This paper explores the microeconomics and dynamics of food and nutrition. It examines the linkages between malnutrition and the incentive to invest and accumulate capital. The analysis focuses on a dynamic model where preferences about the future depend on nutrition and health. Situations of malnutrition cover both ends of the spectrum: from nutrient deficiency to obesity. The model involves p...

This mathematical model allows calculation of Unit Commitment (hereinafter UC), providing for compliance with all technical limitations in the equipment state and electricity regime parameters to ensure the minimization of the total cost of electric power generation, as determined on the basis of notifications wholesale market participants on the composition and parameters of the generating equ...

one of the measures taken by the 1979 revolutionary government of iran was to denounce the mixed public-private ownership of the banking system of the pre-revolutionary era and implement a full scale banking nationalization and merging scheme. since then the banking system has been operating under close supervision and scrutiny of the government - exercising its power to impose a variety of res...

Economic development requires the growth of productive …rms. However, …nancing constraints may limit …rms’investment abilities. This paper estimates the cost of …nancing constraints to …rms, for example in terms of idle investment opportunities, and their aggregate implications. To this end, I develop and estimate a dynamic model of …rm-level investment. The model allows me to deal with the mai...

The aim of this study is to explain two remarkable changes that occurred in the female labor market between the 1970s and the 1990s using a human capital investment model: (1) labor supply of married women has been more compatible with having children and (2) married women have faced higher wage growth rates as a result of higher participation. To this end, this paper constructs a dynamic stoch...

Financial liberalisation has offered global investors with new investment opportunities via international portfolio diversification. Proper investment planning as well as portfolio diversification and rebalancing require low correlations between the assets under consideration. In general, correlations between countries have increased during the global financial crisis due to contagion, interdep...

Allocating an IT Innovation budget to technologies in different maturity stages (mature vs. fashionable IT innovations) is a demanding task for companies. Due to the dynamic innovation cycles with new emerging technologies, many IT innovation investment decisions follow a bandwagon behavior or fixed investment strategies. Instead of optimizing the IT innovation budget’s allocation to mature or ...

We develop a dynamic nonlinear, noisy REE model of credit risk pricing under dispersed information that can theoretically and quantitatively account for the credit spread puzzle. The first contribution is a sharp analytical characterization of the dynamic REE equilibrium and its comparative statics. Second, we show that the nonlinearity of the bond payoff in the environment with dispersed infor...

We present a dynamic extension of the classic static model of Bertrand price competition that allows competing duopolists to undertake cost-reducing investments in an attempt to “leapfrog” their rival to attain low-cost leadership — at least temporarily. We show that leapfrogging occurs in equilibrium, resolving the Bertrand investment paradox., i.e. leapfrogging explains why firms have an ex a...