We revisit the effect of traders' experience on price bubbles by introducing either one-third or two-thirds steady inflow of new traders in the repeated experimental asset markets. We find that bubbles are not significantly abated by the third repetition of the market with the inflow of new...

As one of environmentally friendly refrigeration methods, solid adsorption refrigeration has tracked much interest over the world. Silica gel is popularly used in adsorption refrigeration systems as the adsorbent. Like a compressor in a compression refrigeration system, the adsorbent is vital to...

"With more than half of today's global GDP being produced by approximately four hundred metropolitan centers, learning about the economics of cities is vital to understanding economic prosperity. This textbook introduces graduate and upper-division undergraduate students to the field of urban...

Many urban school districts in the United States and OECD countries confront the necessity of closing schools due to declining enrollments. To address this important policy question, we formulate a sequential game where a superintendent is tasked with closing down a certain percentage of student...

The goal of this paper is to analyze consumer demand in markets with large price uncertainty. We develop a demand model for goods that are subject to habit formation. We show that consumption plans of forward looking individuals depend not only on preferences and current period prices, but also...

Environmental policy analyses increasingly require the evaluation of benefits from large changes in spatially differentiated public goods. Such changes are likely to induce general equilibrium effects through changes in household expenditures and local migration, yet current practice "transfers"...