History versus expectations in economic geography reconsidered

History versus expectations in economic geography reconsidered

This paper studies global stability of spatial configurations in a dynamic two-region model with quadratic adjustment costs where rational migrants make migration decisions so as to maximize their discounted future utilities. A global analysis is conducted to show that, except for knife–edge cases with symmetric regions, there exists a unique spatial configuration that is absorbing and globally...

Economic geography

Fee versus royalty reconsidered

For an outsider innovator in a Cournot oligopoly, royalty licensing could be superior to both fixed fee and auction. The result depends on a simple fact that has been overlooked in the existing literature, namely, the number of licenses can take only integer values.  2004 Elsevier Inc. All rights reserved. JEL classification: D21; D43; D45

Institutional change in economic geography

This paper develops a rigorous concept of institutions to investigate the interrelationships between institutional and economic change from the perspective of economic geography. We view institutions neither as behavioural regularities nor as organisations or rules, but conceive institutions as stabilisations of mutual expectations and correlated interaction. The paper discusses how economic in...

Reshaping Economic Geography