This paper investigates the properties of a local economy in which personal connections are important in nding jobs. The complementarities in the model generate an interesting nonlinear relationship between the distribution of human capital in the economy, the characteristics of the social network, and equilibrium labor market dynamics. The model is shown to be consistent with a number of styli...

The use of social network media has exploded globally, and many people share facts of their daily lives in these media by posting comments, photos, and videos. Up until 10 years ago, there was no Facebook, Twitter or Instagram, among the many social media apps that keep being developed; however, today people of all ages use them massively. Such integration into personal life often results in pa...

This paper proposes an approach to optimally allocate multiple types of flexible AC transmission system (FACTS) devices in market-based power systems with wind generation. The main objective is to maximize profit by minimizing device investment cost, and the system's operating cost considering both normal conditions and possible contingencies. The proposed method accurately evaluates the long-t...