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The current value Hamiltonian in an aggregate optimal growth problem with heterogeneous capital stocks including exhaustible, renewable and environmental stocks is the NNP function. Routine substitutions reveal that the using up of environmental capital (more pollution) is representable as an...
Persistent link: https://www.econbiz.de/10005497245
The consumer's world is extended to include spatially separate employment and commodity markets. Income available for the purchase of commodities varies with location because of commuting costs. The delivered prices of commodities depend on consumer location. Utility maximization involves the...
Persistent link: https://www.econbiz.de/10005653062
In a simple two factor, two good, two person general equilibrium model with pollution, we indicated a case in which the introduction of optimal Pigovian corrective taxes results in an equilibrium with a higher level of pollution. Our argument turns on our two persons earning incomes from...
Persistent link: https://www.econbiz.de/10005653091
Mills' programming model of efficient resource allocation in an urban area is extended to include multiple nuclei and intermediate goods. The new model is a decomposable linear program in which the primary resource value of the city plus transportation costs are minimized subject to a prescribed...
Persistent link: https://www.econbiz.de/10005653097
The current value Hamiltonian in an aggregate optimal growth problem with heterogeneous capital stocks including exhaustible, renewable and environmental stocks is the NNP function. Routine substitutions reveal that the using up of natural resource stocks is representable as an easy-to-interpret...
Persistent link: https://www.econbiz.de/10005653118
The Hitchcock-Koopmans transportation problem is linked to the gravity model of regional analysis with the aid of two new analytical results. Eighty transportation problems are generated by Monte Carlo methods and solved by linear programming. The transportation cost minimizing flows are...
Persistent link: https://www.econbiz.de/10005653241
Interregional input-output models have seldom been empirically articulated owing no doubt to the inordinate demands made on research teams to collect data on economic flows and to prepare the oeffecients required int he models. This paper talks about a more recent model, which is that of...
Persistent link: https://www.econbiz.de/10005653264
The Hitchcock-Koopmans (HK) transportation problem in linear programming (4), (5) and the Cournot-Enke-Samuelson (KES) pricing problem in spatial price equilibrium (2), (3), (6) are two classic analyses in the theory of transportation costs. In this paper, I generalize the HK analysis to take...
Persistent link: https://www.econbiz.de/10005688244
At each date, the two players play an R & D investment game "followed" by a Cournot quantity setting game. Each player's R & D augments the common stock of technical knowledge and lowers goods production costs for each player. Profit gross of R & D investment expenditures are quadratic in the...
Persistent link: https://www.econbiz.de/10005688272
We characterize the multiplicity of patterns of trade in the neo-classical two country, two factor, two final good model extended to incorporate an essential intermediate good. With factor price equalization and no trade in the intermediate good, there are no gains from trade by opening up the...
Persistent link: https://www.econbiz.de/10005688293