In choosing a bidding strategy, the original multivariate approach cannot handle a more general and usual bidding situation when the mean value of the bid price for the strategic bidder is not zero. This problem is solved by extending the original approach, assuming that the cost estimate is...

Empirical studies show that the most successful continuous-time models of the short term rate in capturing the dynamics are those that allow the volatility of interest changes to be highly sensitive to the level of the rate. However, from the mathematics, the high sensitivity to the level...

Post-reform urban conditions -- Establishing the land market -- Establishing the housing market -- Market configuration and actors in urban development -- State, governance, and land management -- Changing city planning : from resource allocation to place promotion -- Entrepreneurial city and...