We study a long-recognised but under-appreciated symmetry called "dynamical similarity" and illustrate its relevance to many important conceptual problems in fundamental physics. Dynamical similarities are general transformations of system where the unit Hamilton's principal function is rescaled, therefore represent kind dynamical scaling with formal properties that differ from standard symmetr...

<p style='text-indent:20px;'>The introduction of the benchmarking mechanism into electricity industry has influenced whether utility firms choose to invest in carbon abatement technology. This study presents an supply chain that includes a firm as leader and retailer follower decide on price technology investment. The discusses impact decision-making enterprises. main conclusions are foll...

Customer co-creation, the practice of involving customer in a firm’s new product development, has received increasing attention. We develop unique analytical model to study co-creation and examine conditions under which is economically beneficial for both firm. In our model, firm determine (simultaneously or sequentially) their innovation share co-created product, directly affecting development...

The paper provides a possible explanation for the occurrence of uniform, fixedproportion rules for sharing surplus in two-sided markets. We study a two-sided matching model with transferable utility where agents are characterized by privately known, multi-dimensional attributes that jointly determine the surplus of each potential partnership. We ask the following question: for what divisions of...

We used time series of biomass and catches for the major commercial groundfish stocks in the Eastern Bering Sea/Aleutian Islands region and in he Gulf of Alaska to compute annual surplus production for 1977–2004. Annual surplus production and average annual biomass were aggregated cross stocks within each region to examine the relationship between total surplus production and total aggregated b...

Unskilled labor is the abundant resource in many developing countries, especially at an early stage of their development. Yet, even as at given technologies labor markets have not cleared, neo-classical economists have rejected the notion of an institutional or bargaining wage not based on competitive full employment marginal productivity fundamentals. This paper puts to rest some objections to...

This paper uses data from the German Socio-economic Panel Study to examine the effect of psychological traits, in particular personality, on the formation and dissolution of marital and cohabiting relationships. Personality traits have substantial effects on propensities to marry and divorce. Changing patterns of selection into and out of domestic partnerships indicate that the determinants of ...

Microgrids (MGs) have become an integral part of smart grid initiatives for future power system networks. Networked microgrids consist several neighbouring connected in a low/medium distribution network. The primary objective network is to share surplus/shortage with achieve mutual cost-effective operation, utilising green energy from renewable resources the and increasing reliability customer ...

We customize the aggregative game approach to oligopoly to study asymmetric media markets. Advertiser, platform, and consumer surplus are tied together by a simple summary statistic. When media are ad-financed and ads are a nuisance to consumers we establish see-saws between consumers and advertisers. Entry of a lower-quality platform increases consumer surplus, but decreases advertiser surplus...