We introduce heterogeneous preferences for location in 2-region core-periphery models, thereby generating an additional dispersive force: the home-sweet-home effect. Different forms of heterogeneity induce different long-run spatial distributions economic activity, depending on short-run equilibrium model and distribution that are considered. Our analysis highlights importance convexity/concavi...

This paper assesses whether the market valuation of gold mining firms contain a premium for the option to close. Real options theory states that the managerial flexibility with respect to operating decisions of the firm have a recognisable and identifiable value. Together with the present value of expected cash flows (incorporated via the Hotelling Valuation Principle), existing theory purports...

Transport markets involve interactions between multiple groups of decision-makers, hence they are good candidates to be analyzed through the prism game theory. The many models and algorithms published date tend reflect different academic disciplines, including operations research, economics engineering approaches. Models in research oriented journals often large network components order provide...