We study the welfare impact of revenue management, i.e. intertemporal price discrimination when the product availability is limited both in time and quantity, and consumers' arrival is random. This practice is particularly relevant, and widely spread, in the transport industry, but little is...

There are three methods for analysing the flow and pressure distribution in looped water supply networks (the loop method, the node method, the pipe method), accounting for the chosen unknown hydraulic parameters. For all of these methods, the nonlinear system of equations can be solved using...

We study the welfare effects of earnings testing flat-rate old-age benefits in a quantitative overlapping generations model with idiosyncratic labor income risk. In our model economy, even a moderate earnings testing reduces individualsŽ expected lifetime utility. Moreover, it also lowers the...

To overcome market failures society creates common laws that stimulate or penalize individual actions, the enforcement of which depends on the actions of public authorities who may be susceptible to corruption. Thus, a new market emerges where ‘influences’ are traded. Legislators have...

This paper explores the macroeconomic implications of changing fiscal policy in a Heterogeneous Interacting Agent (“HIA”) model. The key contributions to the existing HIA complex adaptive trivial system (“CATS”) literature include the addition of a progressive income tax structure, an...

The motivation for the research presented in this thesis stems from the recentavailability of high frequency limit order book data, relative scarcity of studiesemploying such data, economic significance of transaction costs management, anda perceived potential of data mining for uncovering...

Two sentiments are common among economists who study state and local public finance—that source-based capital taxation by subnational governments is a bad idea, and that state governments are powerless to redistribute income. These claims are consistent with the optimal tax literature, if the...