We propose a spatial competition model to study banks' strategic responses to the asymmetric Spanish geographic deregulation process. We find that once the geographic deregulation process finishes, inter-regional mergers between savings banks are optimal whenever the economies of scale...

Рассмотрены ключевые элементы, определяющие формирование системы инновационного климата региона. Формирование инновационного климата рассматривается как...

We consider an exogenous and reversible shock to a groundwater resource, namely a decrease in the recharge rate of the aquifer. We compare optimal extraction paths and the social costs of optimal adaptation in two cases: under certainty, i.e. when the date of occurrence of the shock is known,...

Energy storage is an important component of life-history variation. A distinction is recognized between species that provision offspring using energy gained concurrently (income breeders) and those that provision offspring using energy stores accumulated at an earlier time (capital breeders)....