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Keeping it Fresh : Strategic Product Redesigns and Welfare

Blonigen, Bruce A. - 2013

Product redesigns happen across virtually all types of products. While there is substantial evidence that new varieties of goods increase welfare, there is little evidence on the effect of product redesigns. We develop a model of redesign and exit decisions in a dynamic oligopoly model (a la...

Persistent link: https://www.econbiz.de/10012459665

Entry, Pricing and Product Design in an Initially Monopolized Market

Davis, Steven J. - 2001

We analyze entry, pricing and product design in a model with differentiated products. Under plausible conditions, entry into an initially monopolized market leads to higher prices for some, possibly all, consumers. Entry can induce a misallocation of goods to consumers, segment the market in a...

Persistent link: https://www.econbiz.de/10012470171

Quality Ladders in the Theory of Growth

Grossman, Gene M. - 1989

We develop a model of repeated product improvements in a continuum of sectors. Each product follows a stochastic progression up a quality ladder. Progress is not uniform across sectors, so an equilibrium distribution of qualities evolves over time. But the rate of aggregate growth is constant....

Persistent link: https://www.econbiz.de/10012475946

Optimal Monetary and Fiscal Policy : A Linear Quadratic Approach

Benigno, Pierpaolo - 2003

We propose an integrated treatment of the problems of optimal monetary and fiscal policy, for an economy in which prices are sticky and the only available sources of government revenue are distorting taxes. Our linear-quadratic approach allows us to nest both conventional analyses of optimal...

Persistent link: https://www.econbiz.de/10012468792

The Armington Assumption and the Size of Optimal Tariffs

Li, Chunding - 2015

trade theory …

Persistent link: https://www.econbiz.de/10012457245

Vaccine Approvals and Mandates Under Uncertainty : Some Simple Analytics

Manski, Charles F. - 2014

Social interactions make communicable disease a core concern of public health policy. A prevalent problem is scarcity of empirical evidence that are informative about how interventions affect population behavior and illness. Randomized trials, which have been important to evaluation of...

Persistent link: https://www.econbiz.de/10012458235

Nonlinear Programming Method for Dynamic Programming

Cai, Yongyang - 2013

the linear approach to dynamic programming by using ideas from approximation theory to avoid inefficient discretization …

Persistent link: https://www.econbiz.de/10012459628

A Model of the Optimal Complexity of Rules

Kaplow, Louis - 1992

. Greater complexity thus allows better control of behavior. But individuals may need to incur costs ex ante to determine how … models the effects of complexity on individuals' decisions to acquire information, choices about whether to act, and reports … of their actions to an enforcement authority. It considers how optimal sanctions depend on the complexity of rules and …

Persistent link: https://www.econbiz.de/10012475023

A Dynamic Programming Model of Retirement Behavior

Rust, John - 1987

This paper formulates a model of retirement behavior based on the solution to a stochastic dynamic programming problem. The workers objective is to maximize expected discounted utility over his remaining lifetime. At each time period the worker chooses how much to consume and whether to work...

Persistent link: https://www.econbiz.de/10012476597

Optimal Dynamic R&D Programs

Grossman, Gene M. - 1985

We study the optimal pattern of outlays for a single firm pursuing an R&D program over time. In the deterministic case, (a) the amount of progress required to complete the project is known, and (b) the relationship between outlays and progress is known. In this case, it is optimal to increase...

Persistent link: https://www.econbiz.de/10012477422