Experiments and theory characterize the novel chaotic neoclassical transport scaling as νcB in contrast to traditional collisional neoclassical transport scaling as ν 1/2 c B−1/2. This chaotic transport occurs when local trapping separatrices have θ-variations or temporal fluctuations. Experiments observe bulk particle transport, damping of Langmuir waves and diocotron waves, and nonlinear wave...

In neoclassical theory, product differentiation provides consumers with a variety of different products within a particular industry, rather than a homogeneous product that characterizes purely competitive markets. The welfare-enhancing benefit of product differentiation is the greater variety of products available to consumers, which comes at the cost of a higher average total cost of producti...

Can neoclassical theory account for the Great Depression in the United States–both the downturn in output between 1929 and 1933 and the recovery between 1934 and 1939? Yes and no. Given the large real and monetary shocks to the U.S. economy during 1929—33, neoclassical theory does predict a long, deep downturn. However, theory predicts a much different recovery from this downturn than actually ...

Although the Solow’s model with technical change explained the stylised facts, the main problem appeared to be the impossibility to distinguish between a move along the production function and a shift in the production function. Further theoretical developments on growth have attempted to solve this problem. Endogenisation of technological change has been the main aim of new growth theory (NGT)...

Modeling and detailed simulation of neoclassical transport phenomena both in 2D and 3D toroidal configurations are shown. The emphasis is put on the effect of finiteness of the drift-orbit width, which brings a non-local nature to neoclassical transport phenomena. Evolution of the self-consistent radial electric field in the framework of neoclassical transport is also investigated. The combinat...

Recent evidence from laboratory experiments suggests that important disparities exist between willingness to pay (WTP) and compensation demanded for the same good. Because a fundamental postulate in neoclassical theory is that with small income effects and many available substitutes, the willingness to accept (WTA) and WTP measures of value for a commodity should be roughly equivalent, this fin...

Ever since its introduction in the 1990s, the systems of innovations (SI) concept has received a great deal of attention from researchers and politicians. The systems of innovation policy (SIP) approach, which is based on the SI concept, is considered an alternative to neoclassical theory. Its goal is to provide new rationales and criteria for innovation policy, as well as concrete implications...