Current Online Version: 2009 eISBN: 9780191726637 Find at OUP.com Google Preview An equilibrium in which agents with differing characteristics choose the same action. For example, in an insurance market a pooling ... Access to the complete content on Oxford Reference requires a subscription or pur...
The evolutionary economics advocates that the "co-evolution" model which features the historical time concept should be substituted for the equilibrium model adopted by the mainstream economics. 演化经济学主张用具有历史时间概念的"共同演化"模式替代新古典经济学的均衡模式,将主流经济学忽略的诸如制度、文化...
Even a minor shift in stop location and departure time may significantly shorten the overall vehicle route and avoid detours39 (or, in other words, shift the user equilibrium solution towards the system optimum one). This can improve the solution and further reduce mileage. On a related note,...
We investigate the effects of carpooling in a dynamic equilibrium model of congestion, which captures various dimensions of heterogeneity: heterogeneity in preference for carpooling, "ratio heterogeneity" between the values of time and the values of schedule delay, and "proportional heterogeneity" that...
where in solving the model we impose the terminal condition that \(\Delta bf=0\) to find the equilibrium real exchange rate. The real exchange rate is defined as: $${q}_{t}=\frac{{Q}_{t}{P}_{h,t}^{*}}{{P}_{h,t}}$$ (20) The real interest rate is calculated by the...
There already exists a well-developed mathematical framework for equilibrium and revenue analysis for each mechanism (for example (Ricardo, 1817) for the Fixed Price Mechanism and (Klemperer, 1999) for Auctions). Nevertheless, the advantage of an “‘experimental”’ multi agent simulation is, that...
is the one required to detect a moderate odds ratio of 2.5, assuming a minimum allele frequency of 0.3, a Bonferroni genome- wide corrected level of significance of 5%, genotype frequencies in cases, controls, and in the combined group in Hardy Weinberg Equilibrium, and using 1 million of SN...
Checking the equilibrium using the last 30 average speeds against a certain threshold value has proven to be very robust. Obstacles that are too low or too narrow are problematic, as they are difficult for the sensors to detect and therefore sometimes do not result in sufficient speed adjustment...
First, utility functions determine individuals' insurance purchasing decisions, which determine the insurance demand curve and hence the equilibrium price of insurance when all risks are pooled. Second, utility functions determine the expected utilities which individuals assign to their outcomes given an ...
As mentioned above, the equilibrium state of the non-pooling market is given by a system of simultaneous Eqs. (1)-(4), which yieldsv=V(qrlr+qnlnL¯v)which is an implicit function of speed v. Similarly, the system of simultaneous Eqs. (2)–(4) and (8) A numerical example To ...