The Cobb–Douglas function is today one of the most widely adopted assumptions in economic modeling, yet both its theoretical and empirical bases have long been under question. This paper builds an alternative function on very different (albeit also neoclassical) microfoundations aimed at both addressing those theoretical drawbacks and providing a better empirical fit than the Cobb–Douglas formu...

The current near a right-angled comer on a perfectly conducting flat scatterer illuminated by a plane wave is expressed as a sum of three currents. The first is the physical optics (PO) current, which describes the surface effect. The second is the fringe wave (FW) current, which is found from the half-plane solution and accounts for the distortion of the current caused by the edges. The third ...

The incentive ratio measures the utility gains from strategic behaviour. Without any restrictions on the setup, ratios for linear, Leontief and Cobb–Douglas exchange markets are unbounded, showing that manipulating the equilibrium is a worthwhile endeavour, even if it is computationally challenging. Such unbounded improvements can be achieved even if agents only misreport their utility function...

Forest management in British Columbia requires that all resource values are considered along with a variety of appropriate management practices. For the past 100 years, partial-cutting practices were the method of choice when harvesting in Interior Douglas-fir (IDF) zone ecosystems. Along with a highly effective fire suppression program and minimal stand tending, these practices have created ne...