This paper develops a tractable model for the computational and empirical analysis of infinite-horizon oligopoly dynamics. It features aggregate demand uncertainty, sunk entry costs, stochastic idiosyncratic technological progress, and irreversible exit. We develop an algorithm for computing a...

This paper develops an econometric model of industry dynamics for concentrated markets that can be estimated very quickly from market-level panel data on the number of producers and consumers using a nested fixed-point algorithm. We show that the model has an essentially unique symmetric...

The fact that wineries tend to cluster can be partially explained by the terroir of those areas. However, a gap in our understanding of the spatial relationships among wineries remains. In this article, winery-level data from California and Washington State with GIS coordinates are utilized to...

In this article, we evaluate how sensory qualities of wine, such as astringency, bitterness, aroma, and flavor, affect consumers' willingness to pay for wine. In order to accomplish this objective, we utilize data collected from untrained consumers, a trained panel, and laboratory measurements...

Wetland ecosystem is an essential ecosystem in the world. Its organic carbon stock and carbon cycle are important basis of global carbon cycle researches and also major contents of global climate change researches. Researches have shown that wetland protection and restoration can promote carbon...

This paper develops a tractable model for the computational and empirical analysis of infinite-horizon oligopoly dynamics. It features aggregate demand uncertainty, sunk entry costs, stochastic idiosyncratic technological progress, and irreversible exit. We develop an algorithm for computing a...

The QWERTY keyboard layout can be very inefficient for one-finger typing on virtual keyboards since the letters in many common digrams are placed on opposite sides of the keyboard, resulting in a long finger travel. This paper reports on use of simulated annealing for finding alternate...