Efficient allocation of resources is the cornerstone of market economy, and migration of people is an elementary part of the allocation mechanism. This paper presents a simple club theoretic model of migration between cities. In the model, welfare in a city depends on its size, and people migrate between cities in seek for welfare gains. Migration alone can produce stable and efficient market s...

The environmental quality of destination has become a tool that hotels have to hold the tourism demand. In this paper we are going to present a model of vertical differentiation in the accommodation industry, where differentiation is associated with quality. Additionally, we assume the existence of a lump sum tax in the accommodation industry. Two are the main results which will be proved in th...

In this paper, we investigate the role of sunk costs in affecting subsequent actions. With the assumptions that bankruptcy laws limit a firm’s liability and that the demand is uncertain when a firm sets its price, we examine a few situations where lump-sum payments affect a firm’s decision after these payments are sunk. In the case of one license, the winning firm becomes a monopoly and its mon...

In this paper, we consider the vibratory motions of lumped parameter systems wherein the components of the system cannot be described by constitutive expressions for the force in terms of appropriate kinematical quantities. Such physical systems reduce to a system of differentialalgebraic equations, which invariably need to be solved numerically. To illustrate the issues with clarity, we consid...

Richard B. Wells MRC Institute, The University of Idaho Abstract: A lumped element modeling schema is presented that can be usefully applied to modeling and analysis of metabotropic processes affecting the signal processing properties of neurons. The schema is easily applied to qualitative models of such biochemical processes and facilitates the development of differential equation descriptions...

-A lumped element 180 Wilkinson divider consisting of 11 elements was presented in 2003. It used a conventional Wilkinson divider, a -90 and a +90 phase shifter of πand T-type. In this paper, that of 10 elements is newly presented. Frequency characteristics of the two 180 Wilkinson dividers and those of a rat-race divider known as an out of phase circuit are discussed. Key-Words: Wilkinson divi...

If the nodes for the spectral element method are chosen to be the Gauss-LegendreLobatto points, then the resulting mass matrix is diagonal and the method is sometimes then described as the Gauss-point mass lumped finite element scheme. We study the dispersive behaviour of the scheme issue in detail and provide both a qualitative description of the nature of the dispersive and dissipative behavi...

As is well-documented, private sector employers have been moving away from traditional defined benefit pension plans for more than a decade. These plans generally pay benefits to a participant as a life annuity, thereby providing a fixed stream of lifetime income at retirement. Employers have moved toward defined contribution and hybrid plans, that is, individual account plans, which are almost...

Open-ended methods that elicit willingness-to-pay (WTP) in terms of absolute dollars often result in high rates of questionable and highly skewed responses, insensitivity to changes in health state, and raise an ethical issue related to its association with personal income. We conducted a 2x2 randomized trial over the Internet to test 4 WTP formats: 1) WTP in dollars; 2) WTP as a percentage of ...

A switched inertance hydraulic system uses a fast switching valve to control flow or pressure and is potentially very efficient as it does not rely on dissipation of power by throttling. This article studies its performance using an analytical method which efficiently describes the system in the time domain and frequency domain. A lumped parameter model and a distributed parameter model have be...