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produced farther away. In this paper, we establish a mathematical theory of real price that determines the optimal global … theory of real price depends on the asymptotic analysis of a Markov chain transition probability matrix related to the … utility, the one with lower label price may not necessarily offer better asymptotic utility. This theory shows that the …
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Problem definition: We consider a monopolist firm selling products to strategic customers who may purchase more than one unit of the product. A key feature of multi-unit purchases is that customers do not value the additional purchases as highly as the first unit, implying the results of...
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Recessions and expansions are often caused or reinforced by developments in private consumption - the largest component of aggregate demand - which, as a result, varies over the business cycle. As such, an accurate measurement of the cyclical component of consumption and an understanding of its...
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Between 1995 and 2008, the global extraction of biomass, fossil fuels, and minerals grew from 48 to 69 billion metric tons. This study investigates how changing consumption and investment patterns affected the aforementioned increase. A series of Structural Decomposition Analyses at a global...
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