We "translate" Hotelling's continuous-time, exhaustible resource extraction Model of 1931 into a linear program of present value extraction cost minimization subject to a stock endowment and period by period demand constraints. The appropriate form of the demand constraints allows for resource...

In the Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion we show the following equivalence: If an efficient path has constant (gross and net of population growth) savings rates, then population growth must be quasi-arithmetic and the path is a maximin or a...

We link daily price-changes for 11 Dow-Jones companies for 5 three month periods to the prevailing interest rate. In "normal times", the interest carrying cost of owning a share exceeds average price change. In periods of high volatility (eg. August to November, 2008), average price change...

The relative openness of the economies of the Atlantic provinces vis-a-vis the rest of Canada has important implications for the design of economic policy in Canada and in its constituent parts. This paper reports on the quantification of the relative openness of the economies of the Atlantic...

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...

A group of well-known models in location theory can be classified according to three salient properties--the presence or absence of homogeneity in the geographic space with respect to first the distribution of consumers, secondly the distribution of inputs for production, and thirdly the...

In his classic work, The Economics of Location, August Losch claimed to have proved that the free entry of firms to a market in two dimensional geographic space characterized by uniform quality throughout its area would result in hexagon-shaped market areas.

Hotelling's 1929 article concerning the behavior of duopolists in a spatial setting has had a lasting influence in economics and political science. With a simple model, he was able to elucide why "our cities become uneconomically large and business districts within them too concentrated"; and...

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...

Von Thunen taught us, with the aid of a simple model (15), how to allocate and price agricultural land around a town. Cournot (1), Enke(3), and Samuelson(10) demonstrated how to price commodities at different points in space so as to cause efficient interregional trade to result when...