The inclusion of spatial correlation of house price in hedonic pricing model may produce better marginal implicit price estimate(s) of the environmental variable(s) of interest. Most applications where a spatial econometric model is applied to the estimation of a hedonic property value model have used either a spatial lag model or a spatial autoregressive (SAR) error model. Incorrect spatial sp...

The current push for bandwidth caps, tiered usage pricing, and other measures in both wireless and wireline communications is usually justified by invoking the specter of “bandwidth hogs” consuming an unfair share of the transmission capacity and being subsidized by the bulk of the users. This paper presents a conventional economic model of flat rates as a form of bundling, in which consumption...

The economic dispatch problem is to determine a socially optimal allocation of supply and demand subject to transmission constraints. With strategic generators possessing market power, the locational marginal pricing mechanism may not induce the economic dispatch. We investigate the market outcomes from a game-theoretic perspective, employing piecewise constant offer curves as in practice, in c...

This paper examines the behaviour of firms over time using different economic models as a basis for setting price. A simulation model was created in order to examine the behaviour of the economic models over time. The paper examines the behaviour of a firm using two standard neoclassical economic models: a model built on the principle of marginalism, ie. the firm produces at the point where mar...