infonet-economy

We analyze a model of oligopolistic competition with ongoing investment. Special cases include incremental investment, patent races, learning by doing, and network externalities. We investigate circumstances under which a firm with low costs or high quality will extend its initial lead through investments. To this end, we derive a new comparative statics result for general games with…

Health policy makers know that their decisions affect the chances of well-being and survival of individuals and that they implicitly are valuing human lives. Evidence with regard to willingness-to-pay (WTP) informs about the value individuals themselves put on these chances; it thus holds the promise of contributing to consistent decisions that lead to an improved benefit-cost ratio…

This paper establishes stylized facts about business cycles in the late 19th century, using spectral analysis techniques which allow an intuitive description and analysis of cyclical structure in economic fluctuations. Analysis of industrial production data for 13 countries permits the following generalizations. In the advanced North Atlantic economies, a fairly regular long cycle…

Let Ω be a bounded domain with fractal boundary, for instance von Koch's snowflake domain. First we determine the range and the kernel of the trace on ∂Ω of Sobolev spaces of fractional order defined on Ω. This extends some earlier results of H. Wallin and J. Marschall Secondly we apply these results in studying Dirichlet forms related to subordinate reflecting diffusions in non…

Information and communication technologies are in the process of transforming the way business is conducted in a large number of industries. The impact of this change is not well understood. This paper develops a research agenda that helps to investigate the implications of information and communication technology on selected management fields. In particular, the implications are…

This paper analyzes the efficiency of three simple cost-based pricing heuristics in a twoperiod capacity planning model with uncertain demand. All policies start with full cost introductory prices but differ in second-period pricing. Under “adaptive full-cost pricing”, the firm updates second-period prices on the basis of current demand conditions and full unit costs. Under “wait-and…