The note explores a vertical differentiation model with a continuous nonuniform consumers’ distribution. First a result concerning the finiteness property obtained with uniform consumers’ distribution is generalized. Second we prove an existence result of price equilibrium when the distribution is concave. Finally we exhibit a counter-example to the existence of price equilibrium to show that t...

In a continuous time, arbitrage free, non-complete market with a zero bond, we nd the intertemporal price for risk to equal the standard deviation of the discounted variance optimal martingale measure divided by the zero bond price. We show the Hedging Num eraire to equal the Market Portfolio and nd the mean-variance eÆcient portfolios.

BACKGROUND A large-scale survey was conducted in 2008 in north west England, a region with high levels of alcohol-related harm, during a regional 'Big Drink Debate' campaign. The aim of this paper is to explore perceptions of how alcohol consumption would change if alcohol prices were to increase or decrease. METHODS A convenience survey of residents (≥ 18 years) of north west England measure...

According to static models of industrial organization, a rise in competition decreases prices. In this paper, I test whether this conclusion can be reversed in the mobile telecommunications markets where dynamic e ciency e ects might be signi cant. The empirical test relies on the change in the intensity of competition introduced by the entry of the fourth mobile operator in France and the merg...

This paper continues investigation of randomness-type properties emerging in idealized financial markets with continuous price processes. It is shown that the strong variation exponent of non-constant price processes has to be 2, as in the case of Brownian motion.

In manufacturing institutes the only access way to maximum profit is identifying the production mix of the products based on the limitations such as policies and politics, demand and production processes. This study identifies the constraints of a tile-manufacturing company including constraints in its production and demand line using LINGO software version 15, and identifying production bottle...

During disasters, citizens call for “anti-price gouging” policies. However, majorities of economists oppose such For democracy to function, should be responsive policy-relevant information—especially from experts. What impact does exposure the potential negative externalities have on public support anti-price gouging policies? We hypothesize that if were exposed information, they would less sup...

Is the stock market boom a result of the baby boom? This paper develops an overlapping generations model in which a baby boom is modeled as a high realization of a random birth rate, and the price of capital is determined endogenously by a convex cost of adjustment. A baby boom increases national saving and investment and thus causes an increase in the price of capital. The price of capital is ...

In the measurement of inequality, adjustments for differences across households in their demographic composition and in the price regimes they face are usually very simple. Often, nominal expenditure (or income) is adjusted with an expenditure-independent price deflator and a price-independent equivalence scale. I show that using more flexible expendituredependent price deflators and price-depe...

We investigate how price ceilings and floors affect outcomes in continuous time, double auction markets with discrete goods and multiple qualities. When price controls exist, the existence of competitive equilibria (the solution concept of classical market theory) is no longer guaranteed; hence, we investigate the nature of non-price competition and how markets might evolve in its presence. We ...