existed electricity grids deliver produced power to the consumer passing through transmission and distribution grids. according to high losses of these grids in transmission level and inexistence of bilateral interaction for simultaneous information exchange, a concept of smart grids were made by capabilities such as consciously participation of consumers in the smart electricity grids, an amou...

We have first demonstrated that Debreu’s view regarding the publication of The Theory of Games and Economic Behavior by von Neumann and Morgenstern in 1944 as the birth of modern mathematical economics is not convincing. In this paper, we have proposed the hypothesis that the coordinated research programs in the 1930’s, initiated by the Econometric Society and the Cowles Commission for Research...

We develop a model that explores the link between services and fragmentation. In our model components used in the manufacturing process are made with services and labor. Low foreign wages create an incentive to outsource component production (fragmentation). However, the importance of services in the manufacturing process can play a role in limiting fragmentation. Although advanced economies ha...

ment planning decisions, including asset allocation choices, it is important for them to consider how all of the assets they own fit together to form an overall portfolio of household wealth. Surprisingly often, one of the most important household assets is left out of retirement planning discussions completely: the family home. This issue of Research Dialogues examines in detail the central ro...

Specialization alters the incidence of trade costs to buyers and sellers, with pro-and anti-globalizing effects on 76 countries from 1990-2002. The structural gravity model yields measures of Constructed Home Bias and the Total Factor Productivity effect of changing incidence. A bit more than half the world’s countries experience declining constructed home bias and rising real output while the ...