Dissertations / Theses on the topic 'Home economics Mathematical models'
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Steeg, Jörg Michael. "Mathematical models and algorithms for home health care services." Tönning Lübeck Marburg Der Andere Verl, 2008. http://d-nb.info/994324375/04.
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Lei, Tianming. "FISCAL MULTIPLIERS IN HOME PRODUCTION MODELS." Miami University / OhioLINK, 2016. http://rave.ohiolink.edu/etdc/view?acc_num=miami1480542791196421.
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Xotyeni, Zukisa Gqabi. "A study of the existence of equilibrium in mathematical economics." Thesis, Rhodes University, 2008. http://eprints.ru.ac.za/1114/.
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Oladi, Gholamreza. "Three essays in international economics." Thesis, McGill University, 2000. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=36784.
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In international economics literature, different variants of the Nash equilibrium have been used to formulate strategic and retaliative behavior. However, the negotiation process underlying the Nash equilibrium does not capture the notion of retaliation properly. We use the "contingent threat situation" (Greenberg, 1990) to reformulate three different international economic environments.First, a two-country, two-commodity model of trade is considered to reformulate the tariff retaliations. It is known that tariff retaliations lead to a Nash equilibrium outcome, a non-free trade outcome. We show, in the framework of the "theory of social situations", that the free trade equilibrium is supported by a "stable standard of behavior".
Second, the basic two-country, single commodity model is employed to formulate the interactive and retaliatory policies regarding the choice between foreign investment and immigration. Considering three different strategic environments, we investigate the outcomes supported by "stable standards of behavior" under these strategic scenarios. We also provide a critical examination of Jones-Coelho-Easton's proposition (Jones, Coelho, and Easton, 1986).
Third, a simple model of international debt is formulated using a strategic form game. In the game, a country in financial crisis and on the verge of default is requesting a new loan, and a bank, with exposure to the foreign country's debt, contemplates whether it should issue the new loan. We show that "issue a new loan" and "not default", a Pareto optimum pair of strategies, is stable. Interestingly, we get this result by using a non-cooperative negotiation process, offered by the "individual contingent threat situation".
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Haven, Emmanuel. "The use of fuzzy set theory in economics : applications in micro-economics and finance." Thesis, McGill University, 1995. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=23335.
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This paper attempts to show how fuzzy set theory can be used to weaken some of the stringent, rationality assumptions used in classical micro-economics. The objective of the paper is to see whether by introducing fuzziness we arrive to new results or just only generalizations of classical micro-economic results. We discover that the axiom of completeness is not needed anymore. Using fuzziness will also allow us to better explain the existing gap between delimiting possible choices and making the actual choice. We also introduce the notions of a fuzzy indifference set with a measurable area. The fuzzy utility surface is also discussed. The demand curve is now 'thick'.In the producer area, the classical hypothesis that maximum profit entails maximum utility of profit is now substantially weakened when introducing fuzziness.
Finally, we consider revealed preference within a fuzzy context.
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Allsopp, Paul, and n/a. "Measuring team performance and modelling the home advantage effect in cricket." Swinburne University of Technology, 2005. http://adt.lib.swin.edu.au./public/adt-VSWT20060713.122306.
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Cricket differs from many team sports in that it is not generally played within easily
definable constraints. Thus, it is difficult to compare and contrast team performances. By
employing a range of linear and logistic modelling techniques this thesis quantifies the
extent to which team quality effects and a range of associated factors such as home
advantage have shaped team performance in Test, ODI and domestic cricket. With regards
to the latter, the thesis established that, in all forms of cricket, a team?s scoring potential
and its capacity to win were both significantly amplified when it played at its home ground.
The thesis proposes a method to estimate a projected score for the team batting second in
ODI cricket. The method scales up the team?s actual winning scores in proportion to its
unused run scoring resources. This creates a projected victory margin when it wins with
unused run scoring resources at its disposal and provides a more realistic measure of its
relative superiority at the point of victory than the current wickets-in-hand method.
Accordingly, the thesis recommends a revised scheme for recording victories in ODI
cricket which is consistent across innings and provides a mechanism for all victories to be
compared and ranked on an equal footing.
The thesis employs linear modelling methods that account for the size of a victory in ODI
cricket and the magnitude of the first innings lead in Test and domestic cricket to compute
team ratings. The ratings are calculated independently of effects such as home advantage
and quantify overall team performance relative to the average rating. They provide a robust
measure of team quality and are not sensitive to the extraneous effects that may
disproportionately impact on team performance. As a consequence, the thesis recommends
that new methods be investigated to officially rate and rank teams in international cricket
competitions. The team ratings also form the basis of a proposed outcome prediction model
that can be instituted in Test cricket.
The thesis established that a surprising trend has emerged in Test cricket, which confirmed
that the team batting second, in general, has enjoyed a distinct winning advantage over its
opposition. Accordingly, the thesis ascertained that relative strength during the final rather
than penultimate innings significantly affected match outcomes and recommends that teams, when winning the coin toss, expose their strongest asset, whether this be batting or
bowling, in the final innings.
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Perry, Stanley Foster. "Distributed Economic Systems with Agents that Learn." PDXScholar, 1992. https://pdxscholar.library.pdx.edu/open_access_etds/1271.
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Economic systems are distributed in the sense that economic agents make decisions without any central control. Prices, quantities, wealth, and market structure emerge from the interaction of agents acting in their own self interest. The concepts and language of systems science are used to define economic systems in a manner that captures and articulates the distributed nature of economic systems. Further, the systems definition permits multiple views of the economic system, and in addition, allows the agents to "step outside" the system in order to study it. Economic systems are defined in such a way that it is feasible to construct artificial economic systems, and in particular, ones that are composed of self-interested agents that operate according to principles that are prescribed by the researcher. An artificial economic system was actually constructed and tested in a computer environment. The model was verified with reference to several theoretical models such as static and adaptive expectations. The system constructed allows up to 1000 agents to interact without any central control. A computer "blackboard system" is used as the architecture for providing common information to the agents in the artificial economic system. The blackboard design successfully allows complex agents to compete and trade in an artificial economic system created by the researcher. Prices, quantities, wealth, and market structure emerge naturally in the artificial economy that depend on the characteristics and prescribed strategies of the agents in the system. After a transition period, the trading frequently produces price and quantity time series that have the characteristics of a random walk, a condition that is well known in real world markets. Three classes of producer agents were used in these artificial economic systems: optimizing agents that incorporate neural networks, satisficing agents that incorporate very simple rule-based approaches, and Stackelberg agents that have knowledge about the consumers in the system, but do not have knowledge about their competitor's strategies or intentions. Neural networks are used to model the behavior and strategies of economic agents that can be said to learn, i.e., those agents that develop general principles for adapting to changing market conditions that transfer across markets. The focus of this research was on the producers in the system. The consumption side of the economic system was represented by a set of simple consumers. An important result emerging from this research is that at least one agent out of four in these experiments with accurate knowledge about market demand increases the wealth of the system as a whole. Markets containing a single Stackelberg or neural agent produced far more wealth than markets composed only of satisficing agents. However, the agents with knowledge do not necessarily capture the highest share of the wealth. The success of individual agents depends on the agent's trading strategy, as expected, and in addition depends on the combination of agents in the system. Certain strategies appeared to be flexible while others were brittle, and were easily foiled by changing the agents in the market, or by changing the market conditions. Earlier studies attempted to use neural networks to simulate an entire economic system, but were rejected because the organizing principles of the two systems are not analogous. Additionally, neural networks were successfully tested for solving various economics problems that were not related to the simulation of economic systems. Neural networks were found to effectively solve problems with missing and redundant data that are not directly solvable with well known methods such as least squares.
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Donald, Stephen Geoffrey. "Estimation of heteroskedastic limited dependent variable models." Thesis, University of British Columbia, 1990. http://hdl.handle.net/2429/30691.
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This thesis considers the problem of estimating limited dependent variable models when the latent residuals are heteroskedastic normally distributed random variables. Commonly
used estimators are generally inconsistent in such situations. Two estimation methods that allow consistent estimation of the parameters of interest are presented and shown to be consistent when the latent residuals are heteroskedastic of unknown form. Both estimators use recent advances in the econometric literature on nonparametric estimation
and deal with the unknown form of heteroskedasticity by approximating the variance using a Fourier series type approximation.
The first estimator is based on the method of maximum likelihood and involves maximising
the likelihood function by choice of the parameters of the variance function approximation
and the other parameters of interest. Consistency is shown to hold in the three most popular limited dependent variable models — the Probit, Tobit, and sample selection models — provided that the number of terms in the approximation increases with the sample size. The second estimator, which can be used to estimate the Tobit and sample selection models, is based on a two-step procedure, using Fourier series approximations
in both steps. Consistency and asymptotic normality are proven under restrictions on the rate of increase of the number of parameters in the approximating functions.
Finally, a small Monte Carlo experiment is conducted to examine the small sample properties of the estimators. The results show that the estimators perform quite well and in many cases reduce the bias, relative to the commonly used estimators, with little or no efficiency loss.Arts, Faculty of
Vancouver School of Economics
Graduate
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He, Yumei, and 何玉梅. "Essays on public infrastructure, industrial location and regional development." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2008. http://hub.hku.hk/bib/B39707313.
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Tian, Huilan 1964. "Three essays on trade, resource and environment." Thesis, McGill University, 2002. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=38525.
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This dissertation comprises three essays under the title "Three Essays on Trade, Resource and Environment".The first essay develops a model of international duopoly involving competition both in prices and in levels of environmental friendliness, and studies the implications of government policies. It is shown that, contrary to the conventional wisdom, a regulatory increase in the minimum required level of environmental friendliness of the imported goods may harm the home firm, and may result in an increase in the volume of imports. It may also have adverse effects on the environment. Whether consumers lose or gain from such a regulatory increase depends on consumption spillover effects. We also show that, under certain conditions, the duopoly's equilibrium choice of levels of environmental friendliness is socially optimal.
The second essay investigates the properties of the dynamics of population and resource in a model where the objective function is to maximize the utility level of the least advantaged generation. Unlike in models with a utilitarian objective where the typical outcome is a unique steady state, it is found in our model that there is a continuum of steady states. Which steady state will be approached depends on the initial conditions. We show that for relatively large values of the resource stock, each steady state is conditionally stable in the saddlepoint sense; but for small values of the resource stock, the approach path to a steady state is non-monotone in the state space. Along the approach path to a steady state, the implicit discount rate varies over time.
The third essay extends the existing literature on regulation of polluting firms by taking into account the dynamics of investment in pollution abatement capital. It confirms that, under perfect competition, a Pigouvian tax can create the correct incentive for firms to invest and guide firms to achieve the social optimum. This tax path is time consistent. However, when there is a large polluter with price taking behavior, while an efficient and time consistent tax path exists, it is no longer subgame perfect unless the damage cost function is linear in emission. A non-linear taxation rule needs to be designed to achieve the socially optimal outcome. In the case of monopoly, a pair of instruments, an emission tax and a production subsidy, can lead the monopolist to achieve the social optimum. However, if pre-commitment is not possible, it is shown that linear feedback rules cannot achieve the first best outcome.
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Tsuneki, Atsushi. "Essays on the measurement of waste and project evaluation." Thesis, University of British Columbia, 1987. http://hdl.handle.net/2429/27554.
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Harberger's methodology for the measurement of deadweight loss is reformulated in a general equilibrium context with adopting the Allais-Debreu-Diewert approach and is applied to various problems with imperfect markets. We also develop second best project evaluation rules for the same class of economies.
Chapter 1 is devoted to the survey of various welfare indicators. We especially discuss the two welfare indicators due to Allais, Debreu, Diewert and Hicks, Boiteux in relation to Bergson-Samuelsonian social welfare function.
We first show that these two measures generate a Pareto inclusive ordering across various social states, but they are rarely welfarist, so that both are unsatisfactory as Bergson-Samuelsonian social welfare functions. We next show that second order approximations to the Allais-Debreu-Diewert measure of waste can be computed from local information observable at the equilibrium, whereas second order approximations to the Hicks-Boiteux measure of welfare or to the Bergson -Samuelsonian social welfare function require information on the marginal utilities of income of households, which is unavailable with ordinal utility theory. Finally, we give a diagrammatic exposition of the two measures and their approximations to give an intuitive insight into the economic implications of the two measures.
Chapter 2 and Chapter 3 study an economy with public goods. In Chapter 2, we compute an approximate deadweight loss measure for the whole economy when the endogenous choice of public goods by the government is nonoptimal and the government revenue is raised by distortionary taxation by extending the Allais-Debreu-Diewert approach discussed in Chapter 1. The resulting measure of waste is related to indirect tax rates, net marginal benefits of public goods, and the derivatives of aggregate demand and supply functions evaluated at an equilibrium. In Chapter 3, cost-benefit rules for the provision
of a public good are derived when there exist tax distortions. We derive the rules as giving sufficient conditions for Pareto improvement, but we also discuss when these rules are necessary conditions for an interior social optimum. When indirect taxes are fully flexible but lump-sum transfers
are restricted, we recommend a rule which generalized the cost-benefit rule due to Atkinson and Stern (1974) to a many-consumer economy. When both indirect taxes and lump-sum transfers are flexible, we suggest a rule which is based on Diamond and Mirrlees' (1971) productive efficiency principle. When only lump-sum transfers are variable, we obtain a version of the Harberger (1971)-Bruce-Harris (1982) cost-benefit rules.
Chapters 4 and 5 study an economy with increasing returns to scale in production and imperfect competition. In Chapter 4, we discuss a methodology for computing an approximate deadweight loss due to imperfect regulation of monopolistic industries by extending the Allais-Debreu-Diewert approach to incorporate the nonconvex technology. With the assumption of the quasi-con-cavity of production functions and fixed number of firms, we can derive an approximate deadweight loss formula which is related to markup rates of firms, and the derivatives of aggregate demand functions, factor supply and demand functions and the derivatives of marginal cost functions. We also discuss various limitations of our approach and the relation between our work and that of Hotelling (1938). In Chapter 5, we consider cost-benefit rules of a large project applicable in the presence of imperfect competition. We show that the index number approach due to Negishi (1962) and Harris (1978) can be extended to handle situations with imperfect competition.Arts, Faculty of
Vancouver School of Economics
Graduate
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Newhard, Joseph Michael. "The Genesis of the State: Mathematical Models of Conflict and Cooperation." Bowling Green, Ohio : Bowling Green State University, 2009. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=bgsu1237824890.
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Sgroi, Daniel. "Theories of learning in economics." Thesis, University of Oxford, 2000. http://ora.ox.ac.uk/objects/uuid:b8d832af-57e7-45c2-a846-b69de3d25ec0.
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How should we model learning behaviour in economic agents? This thesis addresses this question in two distinct ways. In the first set of chapters the assumption is that agents learn through the observation of others. They use Bayesian updating which together with specific informational assumptions can generate the problem known as herding with the potential for significant welfare losses. In the final set of chapters the agent is instead modelled as learning by example. Here the agent cannot learn by observing others, but has a pool of experience to fall back on. This allows us to examine how an economic agent will perform if he sees a particular economic situation (or game) for the first time, but has experience of playing related games. The tool used to capture the notion of learning through example is a neural network. Throughout the thesis the central theme is that economic agents will naturally use as much information as they can to help them make decisions. In many cases this should mean they take into consideration others' actions or their own experiences in similar but non-identical situations. Learning throughout the thesis will be rational or bounded-rational in the sense that either the best possible way to learn will be utilized (so players achieve full rational play, for example, through Bayesian updating), or a suitable local error-minimizing algorithm will be developed (for example, a rule of thumb which optimizes play in a subclass of games, but not in the overall set of possible games). Several themes permeate the whole thesis, including the scope for firms or planners to manipulate the information that is used by agents for their own ends, the role of rules of thumb, and the realism of current theories of learning in economics.
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Lu, Zhen Cang. "Price forecasting models in online flower shop implementation." Thesis, University of Macau, 2017. http://umaclib3.umac.mo/record=b3691395.
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Do, Viet Dung 1975. "Three essays in the economics of globalization." Thesis, McGill University, 2009. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=111903.
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This thesis consists of three essays which explore different economic issues emerging in today's globalized world economy. Using a model of outsourcing by monopolistically competitive firms, the first essay shows that, even in the case of flexible domestic wages, international outsourcing (and/or re-location of plants to a low-wage economy) by home firms may worsen the welfare of the home country and reduce the profits of all firms in the industry, even though it is individually rational for each firm to choose to outsource. It shows that if a social planner for the home country can choose the extent of international outsourcing, his optimal choice will not coincide with the equilibrium outcome under laissez-faire. A wage subsidy may improve welfare. When the wage in the home country is rigid we show that outsourcing is welfare-improving for the home country if and only if the sum of the "trade creation" effect and the "exploitation effect" exceeds the "trade diversion" effect of the access to the low-wage labour in the foreign country. The essay also assesses the model in a two-period framework, where each domestic firm faces the choice between outsourcing (or re-location) in the first period, or in the second period. Delaying outsourcing can be gainful because the fixed cost of outsourcing may fall over time. On the other hand, delaying means the firm's variable production cost in period 1 will be higher than that of rivals who are outsourcing. The equilibrium of this two-period game may involve some firms outsourcing in period 1, while others will outsource in period 2, even though ex-ante they are identical firms. Under monopolistic competition, in equilibrium, the sum of discounted profits is identical for all firms. Again, a social planner for the home country may choose a different speed of outsourcing than the speed achieved by an industry under laissez-faire.The second essay explores the market for fair-trade products. It employs a duopoly model involving a firm producing a fair-trade product in competition against a conventional firm producing a standard product. The concept of "economic identity" (Akerlof and Kranton, 2000) is used to model consumers' demand for fair-trade products. The essay shows how, in the short run, the parameters of the identity function can impact the equilibrium prices, and in the medium run, how they impact the conventional firm's choice of its position in the product space. In the long run, however, the fair-trade firm may be able to influence the parameters of the identity function, for its own advantage.
The last essay uses the contest model (Tullock, 1980, Rowley et al., 1988, Hillman and Riley, 1989, Nitzan, 1994) to assess welfare effects of bilateral liberalization of government procurement. It shows that there exists a single condition that ensures active participations of all firms in all contests. When this condition is violated, i.e. under a dominant-country case, the dominating country always gains from trade liberalization, while welfare of the dominated country improves only if its corporate tax is sufficiently high. Under full participation of all firms, i.e. no country dominates the markets, and countries are partially symmetric, there exist conditions where bilateral liberalization is mutually beneficial to both countries. When countries are completely asymmetric, it is showed that a country may gain from bilateral trade liberalization if its tax rate is sufficiently high, while the tax rate of the other country is sufficiently low. The results obtained in this essay have shed lights on the current position of negotiations on liberalizing government procurement within the WTO. They suggest plurilateral agreements on government procurement could be formed among countries with similar economic conditions. Such agreements, however, are hard to reach between countries with a large degree of economic asymmetry.
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Burth, Angela J. "Virtual military markets." Thesis, Monterey, Calif. : Springfield, Va. : Naval Postgraduate School ; Available from National Technical Information Service, 2005. http://library.nps.navy.mil/uhtbin/hyperion/05Sep%5FBurth.pdf.
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張麗霞 and Lai-ha Freda Cheung. "On envelopes and envelope theorem." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1991. http://hub.hku.hk/bib/B31976505.
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謝建煌 and Kin-wong Che. "On the formation of property rights." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1991. http://hub.hku.hk/bib/B31976487.
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Chow, Fung-kiu, and 鄒鳳嬌. "Modeling the minority-seeking behavior in complex adaptive systems." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2003. http://hub.hku.hk/bib/B29367487.
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Haworth, H. "Structural models of credit with default contagion." Thesis, University of Oxford, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.437010.
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Multi-asset credit derivatives trade in huge volumes, yet no models exist that are capable of properly accounting for the spread behaviour of dependent companies. In this thesis we consider new ways of incorporating a richer and more realistic dependence structure into multi-firm models. We focus on the structural framework in which firm value is modelled as a geometric Brownian motion, with default as the first hitting time of an exponential default threshold. Specification of a dependence structure consisting of a common driving influence and firm-specific inter-company ties allows for both default causality and default asymmetry and we incorporate default contagion in the first passage framework for the first time. Building on the work by Zhou (2001a), we propose an analytical model for corporate bond yields in the presence of default contagion and two-firm credit default swap baskets. We derive closed-form solutions for credit spreads, and results clearly highlight the importance of dependence assumptions. Extending this framework numerically, we calculate CDS spreads for baskets of three firms with a wide variety of credit dependence specifications. We examine the impact of firm value correlation and credit contagion for symmetric and asymmetric baskets, and incorporate contagion that has a declining impact over time.
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Sagi, Jacob S. "Partial ordering of risky choices : anchoring, preference for flexibility and applications to asset pricing." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 2000. http://www.collectionscanada.ca/obj/s4/f2/dsk1/tape3/PQDD_0019/NQ56611.pdf.
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YE, Zuobin. "A risk-averse newsvendor model with pricing consideration." Digital Commons @ Lingnan University, 2004. https://commons.ln.edu.hk/otd/18.
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A decision maker who is facing a random demand for a perishable product, such as newspapers, decides how many units to order for a single selling period. This single-period inventory problem is often referred to as the \classic newsvendor problem", in which the selling price is ¯xed, the order must be made before the selling period, and the decision maker is risk-neutral. If the decision maker orders too many (overage), the inventory cost will be too high. If the decision maker orders too few (underage), the potential pro¯t will be lost. The optimal order quantity is a balance between the expected costs of overage and underage.
This thesis investigates an extension of the classic newsvendor problem. In this extension the demand depends on the selling price, the decision maker may obtain an additional order at a higher price during the selling period, and the decision maker is risk-averse (not risk-neutral). The problem is to ¯nd optimal order quantity and selling price so that the expected utility of the risk-averse decision maker is maximized.
This thesis examines the relationship between the order quantity and the sell- ing price for di®erent risk-averse decision makers in this extended newsvendor problem de¯ned above. The result shows that the relationships are consistent for some decision makers but not for others. For example, if the decision maker exhibits a constant absolute risk aversion (CARA), the optimal order quantity will decline when the selling price increases. If the decision maker has constant relative risk aversion (CRRA), the relationship is complex. This thesis ¯nds that if it is just known that the decision maker is risk-averse, the optimal order quantity placed is less than that made by a risk-neutral decision maker. Further more, the risk-averse decision maker's optimal order quantity falls when her/his risk aversion increases. However, the relationship between order quantity and selling price is still indeterminate in this case.
This extension of the classic newsvendor problem provides a more realistic dy- namic setting than before, therefore providing an excellent framework for exam- ining how the inventory problem interacting with the marketing issue (selling price) will in°uence decision makers at the ¯rm level. It also provides an inte- grated framework for investigating di®erent variations of newsvendor problems. Thus, this thesis will motivate and encourage more applications of the newsven- dor problem which is a foundation of many supply chain management problems.
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Carpentier, Line Chantal. "Agriculture and the environment : an economic-ecologic input-output model of the Canadian economy." Thesis, McGill University, 1994. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=55482.
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The current environmental movement calls for a re-evaluation of many economic-ecologic relationships. The objective of this study is to identify industrial sectors and final demands most responsible for particular types of residual discharge and resource use. An economic-ecologic model was constructed for the Canadian economy from the Statistics Canada I-O as modified by Thomassin et al. (1992). This modified version with its 12 agricultural sectors and 16 food processing sectors is best suited for agricultural policy analysis. The model estimates national erosion, pesticide and fertilizer use as well as air and water pollutants, solid waste, and water use associated with specified economic activities.Two different scenarios were analyzed. In the first, the impact on both the economy and the environment from changes in the final demand for agricultural and food commodities was simulated. Each commodity's final demand was increased by $1 million and its impact compared to the other simulated results. The ten commodities studied yielded similar economic impacts, while their environmental impacts differed considerably. Changes in the demand for wheat and oilseeds had the largest environmental impacts.
In the second scenario, the effects of a $1 million increase in each final demand category were compared. This scenario focussed on markets rather than products. The construction, exports and personal expenditures categories were the greatest generator of wastes and the largest user of free resources. The exports category yielded twice as much erosion than personal expenditures and twenty times more than the next highest value (construction).
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Cahill, Paul C. "The economics of fisheries and fisheries management : a partial review." Thesis, McGill University, 1985. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=63301.
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Xu, Li Da. "Fuzzy multiobjective mathematical programming in economic systems analysis: design and method." PDXScholar, 1986. https://pdxscholar.library.pdx.edu/open_access_etds/471.
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Economic systems analysis is a systems analysis technique of setting out the factors that have to be taken into account in making economic systems decisions. The inquiring and operational systems of the technique are almost exclusively designed for well-structured systems. In review of economic systems analysis against systems thinking, there is a growing tendency to discard the analytical approach as inappropriate for dealing with an ill-structured issue. Therefore, economic systems analysis needs both the inquiring and operational systems which are appropriate for ill-structured systems. The foregoing leads to the introduction of an extensive methodology. Mainly, the weakness of economic systems analysis methodology can be traced to the philosophical paradigm upon which the technique is based. In this study, four main aspects of both the inquiring and operational systems of economic systems analysis are being explored: (1) A new philosophical paradigm is proposed as the foundation of general methodology in place of the traditional Newtonian-Kantian inquiring system. (2) The new philosophical paradigm needs new problem formulation and analysis space; therefore, a multidimensional, synergetic, and autopoietic model is proposed for systems synthesis and systems analysis. (3) The new philosophical paradigm is characterized as a Singerian inquiry, and as a result, Marglin's multiobjective analysis is replaced by a Singerian multiobjective analysis. (4) Markov communication theory and fuzzy sets theory are proposed as tools for handling complexity. Markov communication theory and fuzzy sets theory are introduced for systems design and multiple objective analysis. This study reports on the first application of a Singerian fuzzy multiobjective mathematical algorithm in economic systems analysis, concluding that fuzzy systems theory, especially Markov communication theory, can realize approximate reasoning in economic systems analysis. Fuzzy modeling offers a deeper understanding of complexity and a means of expressing the insights that result from that understanding; moreover, it provides a means of incorporating subjectivity and adaptation. Therefore, fuzzy modeling increases the validity of the systems approach for dealing with ill-structured systems. The proposed method represents an important theoretical improvement of Marglin's approach. The results, however, also hold practical importance, for they are of practical interest to systems analysts who would improve systems design and multiobjective analysis.
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Bennett, Ashlea R. "Home health care logistics planning." Diss., Georgia Institute of Technology, 2009. http://hdl.handle.net/1853/33989.
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This thesis develops quantitative methods which incorporate transportation modeling for tactical and operational home health logistics planning problems. We define home health nurse routing and scheduling (HHNRS) problems, which are dynamic periodic routing and scheduling problems with fixed appointment times, where a set of patients must be visited by a home health nurse according to a prescribed weekly frequency for a prescribed number of consecutive weeks during a planning horizon, and each patient visit must be
assigned an appointment time belonging to an allowable menu of equally-spaced times. Patient requests are revealed incrementally, and appointment time selections must be made without knowledge of future requests. First, a static problem variant is studied to understand the impact of fixed appointment times on routing and
scheduling decisions, independent of other complicating factors in the HHNRS problem. The costs of offering fixed appointment times are
quantified, and purely distance-based heuristics are shown to have potential limitations for appointment time problems unless proposed arc cost transformations are used. Building on this result, a new rolling horizon capacity-based heuristic is developed for HHNRS problems. The heuristic considers interactions between travel times, service times, and the fixed appointment time menu when inserting appointments for currently revealed patient requests into partial
nurse schedules. The heuristic is shown to outperform a distance-based heuristic on metrics which emphasize meeting as much patient demand as possible.
The home health nurse districting (HHND) problem is a tactical planning problem which influences HHNRS problem solution quality. A set of geographic zones must be partitioned into districts to be served by home health nurses, such that workload is balanced across districts and nurse travel is minimized. A set partitioning model for HHND is formulated and a column generation heuristic is developed which integrates ideas from optimization and local search. Methods for estimating district travel and workload are developed and implemented within the heuristic, which outperforms local search
on test instances.
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Schmidt, Gordon 1946. "Dynamics of endogenous economic growth theory and related issues : a case study of the "Romer model"." Monash University, Dept. of Economics, 2001. http://arrow.monash.edu.au/hdl/1959.1/8832.
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Olters, Jan-Peter. "Endogenous ballot decisions and "optimal" fluctuations : an economic model of politics." Thesis, McGill University, 2000. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=36785.
Full textAbstract:
Elections---often to a considerable degree---influence the fiscal policies pursued by governments installed on the basis of their results. Nonetheless, government behaviour is typically modelled exogenously, usually by means of a benevolent, permanently installed "social planner." However, since fiscal policies, devised by democratically elected governments, complement the decentralised pricing system, which---as shown by Samuelson (1954)---is incapable of optimally allocating both private and public goods, the social-planner approach is viewed as being an unsatisfactory tool for the purpose of describing the political aspects of economic decisions.In the absence of a "first-best," Pareto-optimal tax system, fiscal policies are implemented as a result of inter-household "conflicts" over tax rates and public spending. In order to be able to overcome the theoretical difficulties encountered in previous contributions to the Economic Theory of Politics, this text will propose a model that explicitly depicts---"democratically aggregated"---political decisions made on the level of every individual.
In this thesis, it will be shown that (i) a country's overall budget can be derived endogenously without relying on the theoretical shortcut of interpersonal preference aggregation, (ii) electoral fluctuations be explained on the basis of the changes to the individuals' particular income and wealth situations, (iii) political behaviour be described in terms of votes and abstentions as well as party membership and ideology, and (iv) the crucial importance of a country's wealth distribution be discussed in the context of economic stability and the role of government.
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Manna, Ester. "Essays on behavioural economics." Doctoral thesis, Universite Libre de Bruxelles, 2014. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/209225.
Full textAbstract:
Traditional economic theory assumes that individuals are self-interested. They only care about their own well-being and disregard the impact of their actions on the others. However, the assumption of selfish individuals is unable to explain a number of important phenomena and puzzles. Individuals frequently engage in actions that are costly to themselves with noapparent reward. Behavioural economics provides plausible explanations for these actions.
Individuals can be “boundedly rational" (Simon, 1955, and Kahneman et al. 1982) and/or can be driven by altruistic, equity and reciprocity considerations (see for an overview Fehr
and Schmidt, 2006). Over the past decade, researchers have applied behavioural economics
models to the study of organisations and how contracts should be designed in the presence
of non-standard preferences and asymmetric information or incomplete contracts (see for
an overview of the literature Köszegi, 2014).
In my current research, I try to be at the forefront of these new behavioural economics
applications into traditional industrial organisation and contract theory themes. The usual prescriptions of standard models can be misleading if potential differences in the agents' preferences are overlooked. Behavioural economics can make great progress if it takes into proper accountmarket and organisational features.
Doctorat en Sciences économiques et de gestion
info:eu-repo/semantics/nonPublished
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Siegel, Paul B. "The relationship between changing economic structure and performance: diversification, diversity, growth, stability, and distribution impacts." Diss., Virginia Tech, 1992. http://hdl.handle.net/10919/40017.
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Kirkpatrick, Raelene. "A mathematical analysis of the financial and medical impact of hepatitis C among drug users in Perth, Western Australia." Thesis, Edith Cowan University, Research Online, Perth, Western Australia, 2003. https://ro.ecu.edu.au/theses/1332.
Full textAbstract:
The ability of public health planners continues to be hampered by uncertainties encountered with transmissible diseases. Key epidemiological factors such as, how many Western Australian injecting drug users are hepatitis C seropositive or will become infected, duration of intravenous drug use, the intensity of infection, the fraction of those infected that will develop end-stage disease and after how long a period, all combine to limit the ability of a mathematical model to predict future trends. These models can, however, provide information about certain epidemiological parameters and identify data required to predict future trends. They can be applied to make predictions about the course of infection in the individual and provide a guide to the interpretation of the observed data. This research aims to develop a model of the transmission and spread of hepatitis C, adapting existing models used to predict the spread of HIV and AIDS in one and two sex communities. This model will be used to demonstrate the dynamics and incidence of hepatitis C infection among injecting drug users in Perth, Western Australia. Predictions derived from the model will then be used to undertake an analysis of the cost of treating those with hepatitis C and cirrhosis related complications, resulting in a prediction of the financial impact of hepatitis C on the Western Australian community.
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Hites, Gisèle. "Essays on the dynamics of cross-country income distribution and intra-household time allocation." Doctoral thesis, Universite Libre de Bruxelles, 2007. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/210601.
Full textAbstract:
This thesis contributes to two completely unrelated debates in the economic literature, similar only in the relatively high degree of controversy characterizing each one. The first part is methodological and macroeconomic in nature, addressing the question of whether the distribution of income across countries is converging (i.e. are the poor catching up to the rich?) or diverging (i.e. are we witnessing the formation of two exclusive clubs, one for poor countries and another one for rich countries?). Applications of the simple Markov model to this question have generated evidence in favor of the divergence hypothesis. In the first chapter, I critically review these results. I use statistical inference to show that the divergence results are not statistically robust, and I explain that this instability of the results comes from the application of a model for discrete data to data that is actually continuous. In the second chapter, I reposition the whole convergence-divergence debate by placing it in the context of Silverman’s classic survey of non-parametric density estimation techniques. This allows me to use the basic notions of fuzzy logic to adapt the simple Markov chain model to continuous data. When I apply the newly adapted Markov chain model to the cross-country distribution question, I find evidence against the divergence hypothesis, and this evidence is statistically robust.
The second part of the thesis is empirical and microeconomic in nature. I question whether observed differences between husbands’ and wives’ participation in labor markets are due to different preferences or to different constraints. My identification strategy is based on the idea that the more power an individual has relative to his/her partner, the more his/her actions will reflect his/her preferences. I use 2001 PSID data on cohabiting couples to estimate a simultaneous equations model of the spousal time allocation decision. My results confirm the stylized fact that specialization and trade does not explain time allocation for couples in which the wife is the primary breadwinner, and suggest that power could provide a more general explanation of the observations. My results show that wives with relatively more power choose to work more on the labor market and less at home, whereas husbands with more power choose to do the opposite. Since women start out from a lower level of labor market participation than men do, it would seem that spouses’ agree that the ideal mix of market work and housework lies somewhere between the husbands’ and the wives’ current positions.
Doctorat en sciences économiques, Orientation économie
info:eu-repo/semantics/nonPublished
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Mahlasela, Zuko. "Finite fuzzy sets, keychains and their applications." Thesis, Rhodes University, 2009. http://hdl.handle.net/10962/d1005220.
Full textAbstract:
The idea of keychains, an (n+1)-tuple of non-increasing real numbers in the unit interval always including 1, naturally arises in study of finite fuzzy set theory. They are a useful concept in modeling ideas of uncertainty especially those that arise in Economics, Social Sciences, Statistics and other subjects. In this thesis we define and study some basic properties of keychains with reference to Partially Ordered Sets, Lattices, Chains and Finite Fuzzy Sets. We then examine the role of keychains and their lattice diagrams in representing uncertainties that arise in such problems as in preferential voting patterns, outcomes of competitions and in Economics - Preference Relations.
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Wang, Wen-Kai. "Application of stochastic differential games and real option theory in environmental economics." Thesis, University of St Andrews, 2009. http://hdl.handle.net/10023/893.
Full textAbstract:
This thesis presents several problems based on papers written jointly by the author and Dr. Christian-Oliver Ewald. Firstly, the author extends the model presented by Fershtman and Nitzan (1991), which studies a deterministic differential public good game. Two types of volatility are considered. In the first case the volatility of the diffusion term is dependent on the current level of public good, while in the second case the volatility is dependent on the current rate of public good provision by the agents. The result in the latter case is qualitatively different from the first one. These results are discussed in detail, along with numerical examples. Secondly, two existing lines of research in game theoretic studies of fisheries are combined and extended. The first line of research is the inclusion of the aspect of predation and the consideration of multi-species fisheries within classical game theoretic fishery models. The second line of research includes continuous time and uncertainty. This thesis considers a two species fishery game and compares the results of this with several cases. Thirdly, a model of a fishery is developed in which the dynamic of the unharvested fish population is given by the stochastic logistic growth equation and it is assumed that the fishery harvests the fish population following a constant effort strategy. Explicit formulas for optimal fishing effort are derived in problems considered and the effects of uncertainty, risk aversion and mean reversion speed on fishing efforts are investigated. Fourthly, a Dixit and Pindyck type irreversible investment problem in continuous time is solved, using the assumption that the project value follows a Cox-Ingersoll- Ross process. This solution differs from the two classical cases of geometric Brownian motion and geometric mean reversion and these differences are examined. The aim is to find the optimal stopping time, which can be applied to the problem of extracting resources.
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Lee, Seonah. "Study of demand models and price optimization performance." Diss., Georgia Institute of Technology, 2011. http://hdl.handle.net/1853/42914.
Full textAbstract:
Accurately representing the price-demand relationship is critical for the success of a price optimization system. This research first uses booking data from 28 U.S. hotels to investigate the validity of two key assumptions in hotel revenue management. The assumptions are: 1) customers who book later are willing to pay higher rates than customers who book earlier; and, 2) demand is stronger during the week than on the weekend. Empirical results based on an analysis of booking curves, average paid rates, and occupancy rates for group, restricted retail, unrestricted retail, and negotiated demand segments challenge the validity of these assumptions. The combination of lower utilization rates and greater product differentiation suggests that hotels should apply different approaches than simply matching competitor rates to avoid losing market share. On days when inventory is near capacity, traditional yield management tactics deliver tremendous value, but these should be augmented by incorporating price response of demand and competition effects. On days when demand is soft and occupancy is projected to be low, price and competition based strategies should dominate.
The hotel price optimization problem with linear demand model is a quadratic programming problem with prices of products that utilize multiple staynight rooms as the decision variable. The optimal solution of the hotel price optimization problems has unique properties that enables us to develop an alternative optimization algorithm that does not require solving quadratic optimization problem. Using the well known least norm problem as a subroutine, the optimization problem can be solved as finding a minimum distance between a polyhedron defined by non-negative demand and capacity constraints. This algorithm is efficient when only a few of the staynights are highly constrained.
In practice, the choice of a demand model is largely driven by the ease of estimation and model fit statistics such as R2 and mean absolute percentage error (MAPE). These metrics provide measures of statistical validity of the model, however, they do not measure how well the price optimization will perform which is the ultimate interest of the practitioners. In order to measure the impact of demand models on price optimization performance, we first investigate the goodness of fit of linear demand models with different driver variables using actual data from 23 U.S. hotels representing multiple brands and location types. We find that hotels within the same location types (such as urban, suburban, airport) share similar driver variables. Airport and
suburban hotels have simpler model specifications with less drivers compared to the urban hotels. The airport hotel demand models are different from other location hotels in that the airport hotel demand level does not differ by day of week. We then measure the impact of demand model misrepresentation on the performance of price optimization through simulation experiments, which are performed for different levels of demand and forecast accuracy to represent various market environments that hotels operate in. We find that using models with missing driver variables can reduce the potential revenue by 13%∼53% and using the wrong functional form
5%∼43% under our simulation environment. The findings from our research imply that correctly representing the demand model in price optimization is crucial to its success. In order for hotels to realize the maximum potential revenue through pricing, efforts should be focused on identifying the major driver variables influencing demand including the ones that we found to be significant.
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Mankert, Charlotta. "The Black-Litterman Model : mathematical and behavioral finance approaches towards its use in practice." Licentiate thesis, Stockholm, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-3997.
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Espadinha, Daniel Henrique Gomes. "Planning the delivery of home-based long-term care: A mathematical programming-based tool to support routes' planning." Master's thesis, 2018. http://hdl.handle.net/10071/18725.
Full textAbstract:
The adequate planning of home-based long-term care (HBLTC) is essential in the current European setting where long-term care (LTC) demand is increasing rapidly, and where home-based care represents a potential cost-saving alternative from traditional inpatient care. Particularly, this planning should involve proper route planning to ensure visits of health professionals to patients’ homes. Nevertheless, literature in the specific area of HBLTC planning is still scarce.
Accordingly, this paper proposes a tool based on a mathematical programming model – the LTCroutes – for supporting the daily planning of routes to visit LTC patients’ homes in National Health Service-based countries. The model allows exploring the impact of considering different objectives relevant in this sector, including the minimization of costs and the maximization of service level. Patients’ preferences, traffic conditions and budget constraints are also considered in the proposed model.
To illustrate the applicability of the model, a case study based on the National Network of LTC in Portugal (RNCCI) is analysed.O planeamento adequado de cuidados continuados ao domicílio é essencial na conjuntura atual Europeia em que a procura de cuidados continuados está a aumentar rapidamente, e em que os cuidados ao domicílio representam uma alternativa com potencial de poupança de custos relativamente ao tradicional internamento hospitalar. Particularmente, é necessário haver um planeamento adequado das rotas dos profissionais de saúde às casas dos pacientes. No entanto, a literatura na área específica de planeamento de cuidados continuados ao domicílio ainda é escassa. Nesse sentido, este artigo propõe uma ferramenta baseada num modelo de programação matemática - o LTCroutes - para apoiar o planeamento diário das rotas para visitar as casas dos pacientes com necessidade de cuidados continuados em países com Serviço Nacional de Saúde. O modelo desenvolvido permite explorar o impacto de considerar diferentes objetivos relevantes neste setor, incluindo a minimização de custos e a maximização do nível de serviço. As preferências dos pacientes, condições de trânsito e restrições de orçamento também são consideradas no modelo proposto. Para ilustrar a aplicabilidade do modelo, é analisado um caso de estudo baseado na Rede Nacional de Cuidados Continuados Integrados (RNCCI) em Portugal.
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Lourenço, Marta Filipa Cardoso. "Planning the delivery of home social services: a mathematical programming-based approach to support routing and scheduling assignments." Master's thesis, 2020. http://hdl.handle.net/10071/21864.
Full textAbstract:
The increased average lifespan, together with low birth rates, are transforming the European Union's
age pyramid. Currently, we are experiencing a transition towards a much older population structure.
Given that the institutions that provide care to these population groups are limited by budgetary
constraints, it is imperative to optimize several processes, among which route planning and staff
scheduling stand out.
This dissertation aims to develop a mathematical programming model to support the planning of routes
and human resources for providers of Home Social Services. Beyond general Vehicle Routing Problems
assumptions, the proposed model also considers the following features: i) working time regulations, ii)
mandatory breaks, iii) users' autonomy, and iii) meals' distribution. The present model, implemented
using GAMS software, focuses simultaneously on two objective functions: minimization of operating
costs, and maximization of equity through the minimization of differences in teams' working times.
Chebyshev's method was chosen to solve the developed multiobjective model.
The model was built based on a Portuguese Private Institution of Social Solidarity. Through the
application of the model, significant improvements are obtained when compared to the current planning
of the partner institution, such as it is the case of an improved workload distribution between caregivers
and routes that will result in lower costs for the institution. This model is fully enforceable to other
institutions that provide services similar or equal to the institution used as a reference.O aumento da esperança média de vida, juntamente com baixas taxas de natalidade, estão a transformar a pirâmide etária da União Europeia. Atualmente, estamos a vivenciar uma transição direcionada para uma estrutura populacional muito mais envelhecida. Dado que as instituições que prestam cuidados a esta fração se encontram limitadas por restrições orçamentais, torna-se imperativo otimizar vários processos, dos quais se destacam planeamento de rotas e escalonamento de funcionárias. Esta dissertação visa introduzir um modelo de programação matemática com a finalidade de apoiar o planeamento de rotas e recursos humanos para prestadores de Serviços de Apoio Domiciliário. O modelo assenta, além dos pressupostos de um "Vehicle Routing Problem", nos seguintes: i) regulações de tempo de trabalho, ii) pausas obrigatórias, iii) autonomia dos utentes, e iv) distribuição de refeições. O modelo, desenvolvido através de software GAMS, foca-se em duas funções objetivo, simultaneamente: minimização dos custos operacionais, e maximização da equidade, através da minimização das diferenças nos tempos de trabalho das equipas. O método de Chebyshev foi o escolhido para desenvolver o modelo multiobjetivo. O modelo foi construído tendo por base uma Instituição Particular de Solidariedade Social em Portugal. Através da aplicação do modelo, obtêm-se melhorias significativas, quando comparado com o atual planeamento da instituição parceira, como é o caso de uma melhor distribuição da carga de trabalho entre as funcionárias e das rotas que resultam da redução dos custos operacionais da instituição. Este modelo é totalmente extensível a outras instituições que prestem serviços semelhantes ou iguais à instituição utilizada como referência.
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Mialon, Hugo Marc. "Three essays in the economics of law and language." Thesis, 2004. http://hdl.handle.net/2152/2092.
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"Double auctions with the presence of informed speculators, uninformed speculators and noise traders." 2009. http://library.cuhk.edu.hk/record=b5894026.
Full textAbstract:
Lam, Yim Hung.Thesis (M.Phil.)--Chinese University of Hong Kong, 2009.
Includes bibliographical references (leaves 40).
Abstract also in Chinese.
Chapter 1. --- Introduction --- p.1
Chapter 2. --- Terminology --- p.4
Chapter 3. --- Literature Review --- p.4
Chapter 4. --- The Model --- p.13
Chapter 5. --- Main Results --- p.18
Chapter 6. --- Extensions
Chapter 6.1 --- Market with informed speculators and uninformed speculators --- p.26
Chapter 6.2 --- "Market with informed speculators, uninformed speculators and noise traders" --- p.33
Chapter 7. --- Conclusion --- p.36
Appendix --- p.37
References --- p.40
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"Regime switching models and multiple thresholds cointegrations." 2013. http://library.cuhk.edu.hk/record=b5549796.
Full textAbstract:
門限協整是金融和統計研究中一個充滿活力的課題。其估計方法往往基於向量誤差修正模型，并儘限於單門限情形。本論文研究了多門限協整模型的估計問題。針對多門限協整，我們提出了兩種基於多門限向量誤差修正模型的估計方法：最小二乘估計和光滑最小二乘估計，并給出了最小二乘估計的收斂速度和建立了光滑最小二乘估計的極限分佈。爲了對這兩種估計方法的性能進行評估，我們展開了一項模擬實驗，實驗結果印證了本文給出的極限理論。通過多門限協整模型，我們隊利率期限結構進行了研究。最後，本論文研究了光滑轉移協整的最小二乘估計方法，并給出了其極限分佈。
Threshold cointegration has been a vibrant research topic in finance and statistics. Estimation procedures of threshold cointegrated models are usually based on the so-called threshold vector error correction forms (TVECMs) for one threshold case. In this thesis, we investigate two estimators for multiple thresholds cointegrations via TVECMs, namely the least squares estimator and the smoothed least squares estimator. The convergence rate of the least squares estimator is obtained and limiting distribution of the smoothed least squares estimator is developed. To assess the performance of these two estimators, we conduct a simulation study, the result of which supports the asymptotic theories developed. We study the term structure of interest rates by a two thresholds cointegration as an example.
Finally we also investigate the least squares estimator of smooth transition cointegration and establish the limiting distribution.
Detailed summary in vernacular field only.
Detailed summary in vernacular field only.
Wang, Man.
Thesis (Ph.D.)--Chinese University of Hong Kong, 2013.
Includes bibliographical references (leaves 83-88).
Abstract also in Chinese.
Abstract --- p.i
Acknowledgement --- p.iii
Chapter 1 --- Introduction --- p.1
Chapter 1.1 --- Background --- p.1
Chapter 1.1.1 --- Two-step Estimator --- p.3
Chapter 1.1.2 --- Simultaneous Estimator --- p.4
Chapter 1.2 --- Outline --- p.6
Chapter 2 --- Threshold Cointegration --- p.7
Chapter 2.1 --- Linear Cointegration --- p.7
Chapter 2.1.1 --- Representation --- p.9
Chapter 2.1.2 --- Two-step Estimator --- p.10
Chapter 2.2 --- Threshold Cointegration --- p.12
Chapter 2.2.1 --- SETAR Representation and Estimation --- p.12
Chapter 2.2.2 --- TVECM Representation and Estimation --- p.15
Chapter 3 --- LSE of Multipe Thresholds Cointegration --- p.17
Chapter 3.1 --- Multipe Thresholds Cointegration --- p.17
Chapter 3.2 --- TVECM Representation and LSE --- p.18
Chapter 3.3 --- Assumptions and Results --- p.20
Chapter 4 --- SLSE of Multiple Thresholds Cointegration --- p.25
Chapter 4.1 --- Smoothed LSE (SLSE) --- p.25
Chapter 4.2 --- TVECM and Estimation --- p.27
Chapter 4.3 --- Assumptions and Results --- p.29
Chapter 4.4 --- Asymptotic Variance --- p.34
Chapter 5 --- Simulation and Empirical Studies --- p.38
Chapter 5.1 --- Simulation Study --- p.38
Chapter 5.1.1 --- Experiment Design --- p.38
Chapter 5.1.2 --- Simulation Results --- p.40
Chapter 5.2 --- Term Structure of Interest Rates --- p.42
Chapter 6 --- Smooth Transition Cointegration --- p.50
Chapter 6.1 --- Smooth Transition Cointegration --- p.51
Chapter 6.2 --- Assumptions and Results --- p.52
Chapter 7 --- Conclusion and Further Research --- p.56
Chapter 7.1 --- Conclusion --- p.56
Chapter 7.2 --- Future Research --- p.59
Chapter 7.2.1 --- Nested Testing --- p.59
Chapter 7.2.2 --- Limiting Distribution of LSE --- p.60
Chapter 7.2.3 --- Other Nonlinear Cointegration --- p.60
Chapter A --- Technical Proofs --- p.63
Chapter B --- Some Formulas --- p.82
Bibliography --- p.83
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Du, Yingjuan. "Bargaining, searching and price dispersion in consumption good markets." 2008. http://hdl.handle.net/2152/18067.
Full textAbstract:
In consumption goods markets, we observe both bargaining and searching. However, in this literature, very little work has been done to incorporate both features into one model. This study addresses this problem. In my first chapter, I add a bargaining parameter to a traditional sequential search model and solve for the new equilibrium in this set-up. Then, I do some comparative statics, changing the distribution of the bargaining parameter to see what happens to the equilibrium. Finally, I use the model to explain two seemingly contradicting empirical works in the literature of discrimination in the auto market. Ayres and Siegelman (1995), using data they collected from a controlled experiment, found that the initial offers for the minorities are higher. Yet Goldberg (1996), using consumer expenditure survey data (CES), reported that there is no significant difference between the final prices for minorities and non-minorities. My model reconciles these two results and shows that if minorities have a more dispersed bargaining parameter distribution and if the final transaction prices are the same at the mean level, then the initial offer distribution for the minorities first-order stochastically dominates that for the non-minorities. In my second chapter, I investigate how the bargaining process affects firms’ offer distribution and thus the final price distribution. Based on Varian (1980), I add a bargaining parameter into the model, and solve for the new equilibrium in this set up. Then, I do some comparative statics, changing the distribution of the bargaining parameter to see what would happen to the equilibrium. This model yields the same results as the first chapter. In the third chapter, I applied my theoretical model to the automobile market, and empirically test the model. I used CES data, and my findings support the theoretical model. The minority dummies are not significant in determining the mean level of consumers’ bargaining ability distribution, but are significantly positive in determining the variance of the distribution.text
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Chan, Derek Kwok-Wing. "Competition in auditing : a spatial approach." Thesis, 1995. http://hdl.handle.net/2429/7199.
Full textAbstract:
This dissertation develops variants of the well-known Hotelling’s location model to examine the nature of competition in the audit market where audit firms make strategic specialization and pricing decisions.
In a multi-period spatial oligopoly model of auditing competition, audit firms obtain
market power through their service specialization with respect to client characteristics relevant to audit production. This market power allows audit firms to price discriminate among
clients. Competition among audit firms is localized: an audit firm optimally charges a client,
to whom it has the lowest auditing cost to serve, the marginal auditing cost of the second
lowest-cost audit firm. These equilibrium audit firms’ pricing strategies result in an allocation of clients’ surplus and audit firms’ profits that lies in the core of the economy. The
existence of a specialization-pricing equilibrium is also established. In equilibrium, given its
rivals’ specializations, each audit firm’s profit is maximized by choosing a specialization that
maximizes the social welfare (the sum of clients’ surplus and audit firms’ profits). Moreover,
audit firms never choose the same specialization in equilibrium. Instead, in order to earn
rents as ‘local monopolists’, audit firms differentiate themselves from each other. This result
is consistent with a widely held notion that audit firms search for ‘niche’ markets, such as
industry specialization, to increase their profits.
The dissertation then focuses on a two-period spatial duopoly model in which the market
power created by audit firm specialization is now further fortified by the presence of auditors’
learning and clients’ switching costs. In this case, audit firms optimally price discriminate
among clients by offering them ‘specialization-and-relationship-specific’ audit fee schedules.
The practice of ‘low-balling’ is found to be a natural consequence of the competition among
audit firms. However, low-balling occurs only in a certain market segment where audit
firms compete quite fiercely. The analysis also demonstrates how equilibrium audit fee
schedules, audit firms’ specializations and profits, clients’ surplus, and social welfare depend
on the auditing costs, the learning rate, and the switching costs. Some interesting policy
implications are illustrated. Finally, the model is used to analyze the impact of banning
audit firms from the practice of low-balling. It is demonstrated that even though a policy of
banning low-balling always reduces competition, it improves social efficiency in some cases.
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"Endogenous growth with imperfect capital market." 1999. http://library.cuhk.edu.hk/record=b5889837.
Full textAbstract:
Lee Sui Fung.Thesis (M.Phil.)--Chinese University of Hong Kong, 1999.
Includes bibliographical references (leaves 59-62).
Abstract also in Chinese.
Declaration --- p.i
Acknowledgement --- p.ii
Table of Contents --- p.iii
List of Illustrations --- p.v
Notation --- p.vi
Chapter Chapter 1 --- Introduction
Chapter 1.1. --- Chapter Preview --- p.1
Chapter 1.2. --- Literature Review --- p.1
Chapter 1.2.1. --- The Development of Research on Endogenous Growth Model --- p.1
Chapter 1.2.2. --- The Development of Research on Dependent-Economy Model --- p.3
Chapter 1.2.3. --- The Development of Research on Capital Accumulation and Economic Growth --- p.4
Chapter 1.3. --- Thesis Objectives --- p.6
Chapter 1.4. --- Organization of the Thesis --- p.7
Chapter 1.5. --- Chapter Summary --- p.8
Chapter Chapter 2 --- The Endogenous Growth Model
Chapter 2.1. --- Chapter Preview --- p.10
Chapter 2.2. --- Theoretical Framework --- p.10
Chapter 2.3. --- Determination of Macroeconomic Equilibrium --- p.16
Chapter 2.3.1. --- Static Allocation Conditions --- p.17
Chapter 2.3.2. --- Macrodynamic Equilibrium --- p.18
Chapter 2.4. --- Chapter Summary --- p.21
Chapter Chapter 3 --- The Steady-State Equilibrium
Chapter 3.1. --- Chapter Preview --- p.24
Chapter 3.2. --- Conditions for Steady-State Equilibrium --- p.24
Chapter 3.2.1. --- Existence and Uniqueness of Balanced Growth Equilibrium --- p.25
Chapter 3.3. --- Long-Run Adjustment --- p.26
Chapter 3.4. --- Application of the Model --- p.31
Chapter 3.4.1. --- Increase in the Costs of Borrowing --- p.31
Chapter 3.4.2. --- Increase in the Rate of Time Preference --- p.32
Chapter 3.4.3. --- Increase in Domestic Productivity --- p.33
Chapter 3.5. --- Chapter Summary --- p.33
Chapter Chapter 4 --- The Transitional Dynamics
Chapter 4.1. --- Chapter Preview --- p.35
Chapter 4.2. --- Derivation of Transitional Adjustment Paths --- p.35
Chapter 4.3. --- Characterisation of the Transitional Dynamics --- p.38
Chapter 4.3.1. --- Increase in the Costs of Borrowing --- p.41
Chapter 4.3.2. --- Increase in the Rate of Time Preference --- p.43
Chapter 4.4. --- Chapter Summary --- p.45
Chapter Chapter 5 --- Conclusions --- p.46
Appendix1 --- p.52
Appendix2 --- p.58
References --- p.59
45
"Commodity trading strategies in the presence of multiple exchanges and liquidity constraints." 2009. http://library.cuhk.edu.hk/record=b5893903.
Full textAbstract:
Li, Xu.Thesis submitted in: December 2008.
Thesis (M.Phil.)--Chinese University of Hong Kong, 2009.
Includes bibliographical references (leaves 41-43).
Abstracts in English and Chinese.
Abstract --- p.i
Acknowledgement --- p.ii
Chapter 1 --- Introduction --- p.1
Chapter 2 --- Background Study --- p.6
Chapter 3 --- Model Formulation --- p.8
Chapter 3.1 --- Trading Cost Function --- p.9
Chapter 3.2 --- Notations and Optimality Equation --- p.11
Chapter 4 --- Optimal Policy --- p.14
Chapter 4.1 --- Preliminary Assumption and Results --- p.14
Chapter 4.1.1 --- "Generalized (s, 5, H) Policy" --- p.14
Chapter 4.1.2 --- Polya Distribution and Quasi-K-convex --- p.15
Chapter 4.1.3 --- Assumptions --- p.20
Chapter 4.2 --- Single Period Problem --- p.23
Chapter 4.3 --- Finite-Period Problem --- p.30
Chapter 4.4 --- The Algorithm --- p.36
Chapter 5 --- Conclusion --- p.39
Bibliography --- p.41
46
Liu, An-Shih 1977. "Three essays on empirical studies of consumer behavior." Thesis, 2007. http://hdl.handle.net/2152/3348.
Full textAbstract:
This dissertation is an empirical study of demand and supply in differentiated products markets using supermarket scanner data on two particular product categories - canned tuna and hot-breakfast cereals. First, I study the impact of retailers' price promotions on consumer demand and retailer profits in the canned-tuna product category. Since canned tuna is storable, I examine whether consumers stock up during sales. The results suggest that only a limited amount of stockpiling exists in this product category. Since inventory is not very important, consumer demand is thus modeled by a static demand model with a random-coefficients-nested-logit specification, which is estimated by the Markov Chain Monte Carlo method. The unit-sales decomposition results show that on average 36% of the demand response to price promotions comes from brand-switching, so market expansion effects due to consumers switching from the outside good and to higher quantities usually dominate the brand-switching effect. Using the demand estimates, I compute optimal retail prices assuming that stores are local monopolists and choose prices to maximize static category-level profits. I find that regular prices at "high-low" stores are typically at or slightly below the optimal prices, but that regular prices at "every-day-low-price" stores are substantially below the optimal prices. These results suggest that retail price levels and price promotions are more likely related to local market conditions such as retail competition. In addition, I study the effects of store-brand (SB) entry on the demand elasticities of incumbent national brands (NB), consumers' substitution patterns for national and store brands, and the implications for consumer welfare in the hot-breakfast-cereals product category. A random-coefficients model of consumer demand is estimated by the generalized-method-of-moments approach. The empirical findings are: (1) After the entry of SB's, demand becomes more elastic for non-imitated NB's, and either more elastic or shows no change for imitated NB's; (2) in general, substitution patterns for NB's and SB's are asymmetric, i.e., when the prices of their favorite products increase, most NB buyers tend to substitute to other NB products, but SB buyers will substitute to the corresponding imitated NB's; (3) the increase in consumer surplus due to SB entry is trivial for an individual consumer, but the aggregate benefit could be quite substantial.
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"The estimation of vector multiplicative error model on contaminated data and its applications in forecasting volatilities." 2013. http://library.cuhk.edu.hk/record=b5549844.
Full textAbstract:
这篇论文研究了当假设的数据分布与实际不符时估计多维乘积误差模型参数的方法，和该模型在预测领域的应用。论文的第一部分讨论了两种在以前的文献中被用来估计该模型的估计方法：最大似然估计法和广义矩估计法。并在对数据做了不同的干扰后比较了这两种方法。比较结果显示这两种方法都易受偏离值的影响。因此论文的第二部分提出了一种新的估计方法：权重经验似然估计法。在模拟实验和使用包含了当前经济危机间断数据的标准普尔指数的实际实验中，对比最大似然估计法和广义矩估计法，权重经验似然函数显示出了对偏离值有更好的抗性。论文的第三部分进一步研究了多维乘积误差模型在预测中的应用。并且这一部分还提出了实波动性的一种新的分解方式。分解得到的两个新的变量可以被多维乘积误差模型所模拟。通过比较标准普尔指数和纳斯达克指数的预测结果，比起以前用来估计实波动性的三种模型，多维乘积向量模型和新的分解方式显示出了更强的预测能力。This thesis studies the estimations of vector Multiplicative Error Model (MEM) under different kinds of model mismatches and its application in forecasting. In the first part of the thesis, two estimation methods, Maximum Likelihood (ML) method and Generalized Method of Moments (GMM), which have previously been used on vector MEM, are compared through different situations of data contaminations. From the comparison results it is found that both ML and GMM estimators are suspected to outliers in data. Therefore in the second part of the thesis a novel estimator is proposed: Weighted Empirical Likelihood (WEL) estimator. It is shown to be more robust than ML and GMM estimators in simulations, and also in forecasting realized volatility and bipower volatility of S&P 500 stock index including the current financial crisis period. The forecast ability of vector MEM is further addressed in the third part of the thesis, where an alternative decomposition of realized volatility is proposed, and vector MEM is used to model and forecast the two components of realized volatility. From the realized volatility forecasts of S&P 500, NASDAQ and Dow Jones, this decomposition together with vector MEM are illustrated to have superior performances over three competing models which have been applied on forecasting realized volatility before.
Detailed summary in vernacular field only.
Ding, Hao.
Thesis (Ph.D.)--Chinese University of Hong Kong, 2013.
Includes bibliographical references (leaves 203-213).
Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web.
Abstracts also in Chinese.
Abstract --- p.i
Acknowledgement --- p.iv
Chapter 1 --- Introduction --- p.1
Chapter 1.1 --- Outline of the thesis --- p.5
Chapter 1.2 --- Conclusion --- p.7
Chapter 2 --- Background study --- p.9
Chapter 2.1 --- Multiplicative Error Model --- p.9
Chapter 2.1.1 --- Introduction --- p.9
Chapter 2.1.2 --- Developments of MEM --- p.12
Chapter 2.1.3 --- Vector MEM --- p.17
Chapter 2.2 --- Two functions for multivariate analysis --- p.25
Chapter 2.2.1 --- Copula function --- p.25
Chapter 2.2.2 --- Depth function --- p.32
Chapter 3 --- Two Estimators for Vector MEM --- p.39
Chapter 3.1 --- Two Stage Maximum Likelihood --- p.40
Chapter 3.1.1 --- Introduction --- p.41
Chapter 3.1.2 --- Simulation of two stage ML --- p.44
Chapter 3.2 --- Maximum Likelihood estimator --- p.48
Chapter 3.2.1 --- Derivatives of score function --- p.50
Chapter 3.3 --- GMM estimator --- p.57
Chapter 3.4 --- Comparing ML and GMM through simulations --- p.60
Chapter 3.4.1 --- Generation of clean data --- p.61
Chapter 3.4.2 --- Data contamination --- p.62
Chapter 3.4.3 --- Optimization --- p.64
Chapter 3.4.4 --- Resutls on clean data --- p.65
Chapter 3.4.5 --- Results on contaminated data --- p.66
Chapter 3.5 --- conclusion --- p.69
Chapter 4 --- Weighted Empirical Likelihood Estimator --- p.77
Chapter 4.1 --- Introduction --- p.78
Chapter 4.2 --- Vector multiplicative error model and two estimation methods --- p.83
Chapter 4.3 --- Weighted Empirical Likelihood --- p.88
Chapter 4.3.1 --- Inner optimization --- p.93
Chapter 4.3.2 --- Calculation of weights --- p.97
Chapter 4.4 --- Simulation study on outliers --- p.101
Chapter 4.4.1 --- Clean data --- p.103
Chapter 4.4.2 --- Outliers --- p.105
Chapter 4.4.3 --- Simulation results --- p.108
Chapter 4.5 --- Computations of high dimension vector MEM --- p.111
Chapter 4.5.1 --- The influences of dimension on ML --- p.111
Chapter 4.5.2 --- The influences of dimension on GMM --- p.113
Chapter 4.5.3 --- The influences of dimension on WEL --- p.115
Chapter 4.5.4 --- Simulation --- p.116
Chapter 4.6 --- Compare weighted empirical likelihood and empirical likelihood --- p.118
Chapter 4.7 --- Empirical example --- p.121
Chapter 4.7.1 --- Model --- p.123
Chapter 4.7.2 --- Forecast comparison criteria --- p.125
Chapter 4.7.3 --- Results --- p.126
Chapter 4.8 --- Conclusions --- p.127
Chapter 5 --- Forecast RV by Vector MEM --- p.142
Chapter 5.1 --- Introduction --- p.143
Chapter 5.2 --- Multiplicative jump and vector MEM --- p.148
Chapter 5.2.1 --- Multiplicative jump --- p.148
Chapter 5.2.2 --- Vector MEM for jump and continuous components --- p.153
Chapter 5.3 --- Empirical analysis --- p.156
Chapter 5.3.1 --- Data summary --- p.157
Chapter 5.3.2 --- Models --- p.160
Chapter 5.3.3 --- Forecast comparison criteria --- p.164
Chapter 5.3.4 --- Before-crisis period --- p.166
Chapter 5.3.5 --- Crisis period --- p.172
Chapter 5.3.6 --- Comparing M-jump and log M-jump --- p.176
Chapter 5.3.7 --- Conclusion on empirical analysis --- p.183
Chapter 5.4 --- Conclusion --- p.185
Chapter 6 --- Conclusion and future Work --- p.198
Bibliography --- p.203
48
Lich-Tyler, Stephen Woolfley. "The dynamics of individual and household behavior." 2002. http://wwwlib.umi.com/cr/utexas/fullcit?p3114772.
Full text
49
Tuladhar, Sugandha Dhar. "Confidence intervals for computable general equilibrium models." Thesis, 2003. http://wwwlib.umi.com/cr/utexas/fullcit?p3116212.
Full text
50
Lu, Lina. "Three Essays on Panel Data Models in Econometrics." Thesis, 2017. https://doi.org/10.7916/D8NZ8M02.
Full textAbstract:
My dissertation consists of three chapters that focus on panel data models in econometrics and under high dimensionality; that is, both the number of individuals and the number of time periods are large. This high dimensionality is widely applicable in practice, as economists increasingly face large dimensional data sets. This dissertation contributes to the methodology and techniques that deal with large data sets.
All the models studied in the three chapters contain a factor structure, which provides various ways to extract information from large data sets. Chapter 1 and Chapter 2 use the factor structure to capture the comovement of economic variables, where the factors represent the common shocks and the factor loadings represent the heterogeneous responses to these shocks. Common shocks are widely present in the real world, for example, global financial shocks, macroeconomic shocks and energy price shocks. In applications where common shocks exist, failing to capture these common shocks would lead to biased estimation. Factor models provide a way to capture these common shocks. In contrast to Chapter 1 and Chapter 2, Chapter 3 directly focuses on the factor model with the loadings being constrained, in order to reduce the number of parameters to be estimated.
In addition to the common shocks effect, Chapter 1 considers two other effects: spatial effects and simultaneous effects. The spatial effect is present in models where dependent variables are spatially interacted and spatial weights are specified based on location and distance, in a geographic space or in more general economic, social or network spaces. The simultaneous effect comes from the endogeneity of the dependent variables in a simultaneous equations system, and it is important in many structural economic models. A model including all these three effects would be useful in various fields.
In estimation, all the three chapters propose quasi-maximum likelihood (QML) based estimation methods and further study the asymptotic properties of these estimators by providing a full inferential theory, which includes consistency, convergence rate and limiting distribution. Moreover, I conduct Monte-Carlo simulations to investigate the finite sample performance of these proposed estimators.
Specifically, Chapter 1 considers a simultaneous spatial panel data model with common shocks. Chapter 2 studies a panel data model with heterogenous coefficients and common shocks. Chapter 3 studies a high dimensional constrained factor model.
In Chapter 1, I consider a simultaneous spatial panel data model, jointly modeling three effects: simultaneous effects, spatial effects and common shock effects. This joint modeling and consideration of cross-sectional heteroskedasticity result in a large number of incidental parameters. I propose two estimation approaches, a QML method and an iterative generalized principal components (IGPC) method. I develop full inferential theories for the two estimation approaches and study the trade-off between the model specifications and their respective asymptotic properties. I further investigate the finite sample performance of both methods using Monte-Carlo simulations. I find that both methods perform well and that the simulation results corroborate the inferential theories. Some extensions of the model are considered. Finally, I apply the model to analyze the relationship between trade and GDP using a panel data over time and across countries.
Chapter 2 investigates efficient estimation of heterogeneous coefficients in panel data models with common shocks, which have been a particular focus of recent theoretical and empirical literature. It proposes a new two-step method to estimate the heterogeneous coefficients. In the first step, a QML method is first conducted to estimate the loadings and idiosyncratic variances. The second step estimates the heterogeneous coefficients by using the structural relations implied by the model and replacing the unknown parameters with their QML estimates. Further, Chapter 2 establishes the asymptotic theory of the estimator, including consistency, asymptotic representation, and limiting distribution. The two-step estimator is asymptotically efficient in the sense that it has the same limiting distribution as the infeasible generalized least squares (GLS) estimator. Intensive Monte-Carlo simulations show that the proposed estimator performs robustly in a variety of data setups.
Chapter 3 documents the estimation and inferential theory of high dimensional constrained factor models. Factor models have been widely used in practice. However, an undesirable feature of a high dimensional factor model is that the model has too many parameters. An effective way to address this issue, proposed in Tsai and Tsay (2010), is to decompose the loadings matrix by a high-dimensional known matrix multiplying with a low-dimensional unknown matrix, which Tsai and Tsay (2010) name the constrained factor models. Chapter 3 proposes a QML method to estimate the model and develops the asymptotic properties of its estimators. A new statistic is proposed for testing the null hypothesis of constrained factor models against the alternative of standard factor models. Partially constrained factor models are also investigated. Monte-Carlo simulations confirm the theoretical results and show that the QML estimators and the proposed new statistic perform well in finite samples. Chapter 3 also considers the extension to an approximate constrained factor model where the idiosyncratic errors are allowed to be weakly dependent processes.