We propose a strategy to identify the complementarity or substitutability amongtechnology bundles. Under the assumption that alternative technologies are independent,we develop a hypothetical distribution of multiple technology adoptions. Differencesbetween the observed distribution of...

We propose a strategy to identify the complementarity or substitutability amongtechnology bundles. Under the assumption that alternative technologies are independent,we develop a hypothetical distribution of multiple technology adoptions. Differencesbetween the observed distribution of...

Sometimes authorities are unable to identify rapidly the origin of a tainted product.In such cases, recalls or warnings often apply to all suppliers, even to those thathad not contributed to the contamination. Traceability enables more targetedrecalls by identifying more specically the product's...

This study provides a basic introduction to agent-based modeling (ABM) as apowerful blend of classical and constructive mathematics, with a primary focus onits applicability for social science research. The typical goals of ABM social scienceresearchers are discussed along with the culture-dish...

T.W. Schultz (1975) proposed that returns to human capital were highest in economicenvironments where technology, price or production shocks were common and managerial skillsto adapt resource allocations to those shocks were most in need. We hypothesize that variationin returns to human capital...

In this study, we regard the oligopolistic-oligopsonistic markets within the framework of a“double auction” in which both buyers and sellers make bids. To this end, we introduce gameswhere declarations of supply and demand functions (which need not be true) are treated asstrategic variables...

Recent increases in Iowa farmland values and the turbulence in the stock market have resurrected a perennial question. Which is a better investment - the stock market or farmland?[...]

A framework is developed to examine the 2011 pilot program established by the RiskManagement Agency (RMA) to insure organic crops. Given that for insurance purposes RMAlinks organic crop prices to their conventional counterparts by a fixed percentage, we calibrateour model to reflect the organic...

The evidence strongly suggests a robust negative relationship between income and fertility, anda positive relationship between income and longevity. This is puzzling for standard dynamicmodels. For instance, altruistic models that use the most standard preferences in macro-timeseparable CRRA...

Universities spend almost $2 billion subsidizing their collegiate sports programs. Even the mostpopular women’s sport, basketball, fails to break even. An application of Becker’s theory ofcustomer discrimination is used to calculate the relative preference for men’s basketball for bothmen...