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In this paper we develop a likelihood based approach for estimating the joint equilibrium parameter distribution in random coefficient-random utility models. Under this demand specification and a profit maximizing supply specification, the equilibrium distribution of prices and quantities has an...
Persistent link: https://www.econbiz.de/10005132881
problems identify the marginal cost, average price sensitivity of demand, marginal consumer type, and indexing parameters …
Persistent link: https://www.econbiz.de/10005343051
controls the short-term prices, imposing a perfect competition outcome for “low†demand hours and a price cap at times where …: 1. The impact of a given investment on the market price is independent of the player investing. 2. The impact of an … investment on price is a function of the technology in which the investment takes place and of the cycle to which the price …
Persistent link: https://www.econbiz.de/10005345053
A global multi-sectoral, multi-regional computational general equilibrium model is employed to assess carbon taxes under perfect competition and monopoly. We found that regional studies of carbon taxation maybe inaccurate due to the carbon emission spillover effects. Emission taxes have stronger...
Persistent link: https://www.econbiz.de/10005345068
Persistent link: https://www.econbiz.de/10005345442
costs and ii) the use of informational intermediaries such as price comparison agents (shopbots). We build a simple agent … enlarging buyers' information space and so enhance price comparisons - they have a destabilizing role on buyers' and sellers …
Persistent link: https://www.econbiz.de/10005345741
Persistent link: https://www.econbiz.de/10005706638
Persistent link: https://www.econbiz.de/10005706658
approach to unemployment. We derive the NAIRU from a standard imperfect competition model. The price- and wage …
Persistent link: https://www.econbiz.de/10005132585
The asymptotic distribution of the QML estimator for GARCH processes, with coefficients possibly equal to zero, is established. This distribution is the projection of a normal vector distribution onto a convex cone. The results are derived under mild conditions which, for important subclasses,...
Persistent link: https://www.econbiz.de/10005132594