The electricity price is the sensitive signal of the supply-demand balance and some other market incidents. The analysis of the price data can provide plenty of the market information. It is helpful for the participants to understand the market and improve future strategies. However, most of the...

We study a commons problem under uncertainty, where individual actions affect the risk of a future damage event. We show that for risk-averse agents, an extra risk on the amount of the damage induces more precautionary actions in Nash equilibrium. Similarly, for prudent agents an extra risk in...

I revisit the question of which motive underlies insurance demand. I draw on the literature of state-dependent utility and on the literature of imperfectly divisible consumption to argue that the general purpose of insurance is not a risk transfer, but meeting a conditional need. In this way,...

The paper presents a pilot version of spatial agent-based model simulating the national economy of Russia. The model is supposed to be used for evaluation the effects of industrial and spatial policies. The object of modeling is multi-regional economic space of Russia in its interaction with...

Equilibrium in the Hotelling model of spatial competition is guaranteed if the distribution of consumers is log concave. In the real world, nothing guarantees such a log concave distribution however, rendering the analytical model unable to provide a primer as to what one might expect from...

The notion of compact city has become an important planning agenda to achieve a sustainable urban future. Although there is no universally accepted definition of a compact city, in terms of land use, the concept generally focuses on high-density and mixed-use development along with the promotion...

Through the experiences of the Great 1994 Hanshin-Awaji earthquake and The Great 2011 (Higashi-Nihon) East Japan Earthquake, it has been important for Japanese local Government to build a comprehensive evacuation program on a large earthquake occurrence in near future. According to the experts'...

We simulate a closed rental housing market with search and matching frictions, in which both landlord and tenant agents may be imperfectly informed of the characteristics of the market. The model hypotheses are set so as to match a rent posting search model in the spirit of search models of the...