This paper develops a novel positive model for departure time choice under road pricing and uncertainty at the individual levels, and analyzes the consequent system-level dynamic properties. The proposed modeling framework avoids assumptions of substantial rationality, and focuses on how individuals actually make decisions. Bayesian learning, knowledge updating, search, and decisionmaking under...

Foreign direct investment (FDI) brings host countries capital, productive facilities, and technology transfers, as well as new jobs and management expertise. Thus, it is important to understand the basic reasons for FDI inflow and make clear what gains from FDI are. In the present paper, based on theoretical findings we formulate clear message stating that inflow of FDI does not need to be expl...

The cultural and creative industries have very distinct features. From the supplier’s perspective, inherent uncertainty and lack of predictability combined with high failure rates. On the demand side, consumers are not autonomous but are directly affected by the behaviour of others. Further, an individual’s demand for a product may either rise the more other people buy it (bandwagon effect), fa...