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The Apple-Cinnamon Cheerios War:Valuing New Goods,Identifying Market Power,and Economic Measurement
Apple-Cinnamon Cheerios War Valuing New Goods Identifying Market Power Economic Measurement
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2015/7/15
The contribution of new goods to economic welfare is a first order question for understanding the growth of modern economies. New attention to this question has improved both our understanding of the ...
Kinetic models for the trading of goods
Wealth and income distributions kinetic models Boltzmann equation Fokker-Planck equation.
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2012/9/14
In this paper we introduce kinetic equations for the evolution of the probability distribution of two goods among a huge population of agents.The leading idea is to describe the trading of these goods...
Luxury Goods and the Equity Premium
Luxury Goods the Equity Premium
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2014/3/13
This paper evaluates the equity premium using novel data on the consumption of luxury goods. Specifying utility as a nonhomothetic function of both luxury and basic consumption goods, we derive pricin...