Showing 81 - 90 of 2,033
This paper extends the Puga (1999) model by introducing urban frictions. It assumes that the agglomeration of manufacturing in a city imposes a cost on the inhabitants of the agglomerated region. Furthermore, an implicit function methodology is developed to provide a numerical stability function...
Persistent link: https://www.econbiz.de/10010756759
An inconsistency is found in the demand side of the NEG models developed in Pflüger (2004) that follows from the absence of a non-negativity constraint on the consumption of agricultural goods. This seriously weakens the results of the original paper and those of ensuing contributions in...
Persistent link: https://www.econbiz.de/10010756886
An information-theoretic thought experiment is developed to provide a methodology for predicting endowment distributions in the absence of information on agent preferences. The allocation problem is first presented as a stylised knapsack problem. Although this knapsack allocation is intractable,...
Persistent link: https://www.econbiz.de/10010756888
The maximum entropy methodology is applied to the Schelling model of urban segregation in order to obtain a reliable prediction of the stable configuration of the system without resorting to numerical simulations. We show that this approach also provides an implicit equation describing the...
Persistent link: https://www.econbiz.de/10010757001
Using a generalised version of the Venables (1996) model, this paper explores the relative locations of two vertically linked sectors with knowledge spillovers. Analytical investigation shows that the dynamic properties of the Venables model are significantly affected by the presence of...
Persistent link: https://www.econbiz.de/10010757014
Persistent link: https://www.econbiz.de/10010758286
The present paper aims to test a new model comparison methodology by calibrating and comparing three agent-based models of financial markets on the daily returns of 18 indices. The models chosen for this empirical application are the herding model of Gilli & Winker, its asymmetric version by...
Persistent link: https://www.econbiz.de/10011276604
Persistent link: https://www.econbiz.de/10012953489
This paper attempts to model directly the "folk theorem" of spatial economics, according to which increasing returns to scale are essential for understanding the geographical distributions of activity. The model uses the simple structure of most New Economic Geography papers, with two identical...
Persistent link: https://www.econbiz.de/10003491151
Persistent link: https://www.econbiz.de/10003880846