We prove that this qualitative finding extends when there is additional firm heterogeneity so that one firm has a “better product”, one that, ceteris paribus, all consumers prefer, and/or has lower costs of product development: in equilibrium, the “disadvantaged” firm earns zero net profits...
(K2 − AMθ)S − K1K6 = 0 (A5) Substituting into the expressions of K1, K2, K6, S, and wn, the unitary cubic equation of B, can be derived, namely, (BM − N) × 2[(BM − N)2θ + 2(BM − N)θ + 1] + cr M[(BM − N)θ + 1] + AMθ(BM − N)(...
We start the analysis by estimating the ERPT relationship via Equation (3). The results from a simple OLS estimation are displayed in Table 1. According to the results, the four log-prices are strongly and significantly dependent on the prices of the corresponding substitute commodities and excha...
For any given positive integer n, there exists a set of three positive integers a, b, and c satisfying the equation a2 + b2 + c2 - abc = n if and only if there exists such a set where a2 + b2≤ n. For example, if there are no positive integer solutions...
The use of stumps and roots in energy production has not been standard practice in Finland until the beginning of the 21st century [31]. In 2011 the share of forest chips produced from stumps was 14% in heat and power production. The collection of stumps for use in energy production has ...