منابع مشابه
Diminishing Marginal Utility of Income? Caveat Emptor
[T]he income and happiness relationship is . . . curvilinear . . . with a decreasing marginal utility for higher levels of income . . . . (Diener, Sandvik, Seidlitz, and Diener, 1993, 204; cf. also Diener and Biswas-Diener, 2002, 119) [W]e not only see a clear positive relationship [between happiness and GNP per capita], but also a curvilinear pattern; which suggest that wealth is subject to a ...
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Communities along the USA coast are highly vulnerable to coastal storms. Trends in population growth, climatic events and land use are likely to exacerbate future damages. Coastal management entities are faced with decisions about how to manage resources in a manner that improves environmental quality and provides the maximum benefit for coastal populations. This is particularly true along the ...
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The optimal allocation of water is importance because Yazd province has very limited access to water resources. The optimal allocation requires that the water price be approximately equal to its economic value. Accordingly, the present paper calculated the economic value of water consumed by manufacturing industries in Yazd province. The Cobb-Douglas, transcendental, translog, generalized quadr...
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We consider a multiagent resource allocation domain where the marginal production of each resource is diminishing. A set of identical, self-interested agents requires access to sharable resources in the domain. We present a distributed and random allocation procedure, and demonstrate that the allocation converges to the optimal in terms of utilitarian social welfare. The procedure is based on d...
متن کاملBid shading and diminishing marginal reputation effects in online auctions
This paper explicitly tests for bid shading behavior in eBay auctions under the equilibrium concept of second-price auctions with common valuations and endogenous entry. Aided by flexible estimation techniques, the dynamics of eBay’s reputation mechanism is confirmed to closely mimic that of Sporas trust systems. The key finding is that bidders reduce their bids in response to a hypothetical in...
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ژورنال
عنوان ژورنال: Economica
سال: 2007
ISSN: 0013-0427,1468-0335
DOI: 10.1111/j.1468-0335.2006.00565.x