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Social and Behavioral Sciences Commons™
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Full-Text Articles in Social and Behavioral Sciences
Runs, Panics And Bubbles: Diamond-Dybvig And Morris-Shin Reconsidered, Eric Smith, Martin Shubik
Runs, Panics And Bubbles: Diamond-Dybvig And Morris-Shin Reconsidered, Eric Smith, Martin Shubik
Cowles Foundation Discussion Papers
The basic two-noncooperative-equilibrium-point model of Diamond and Dybvig is considered along with the work of Morris and Shin utilizing the possibility of outside noise to select a unique equilibrium point. Both of these approaches are essentially nondynamic. We add an explicit replicator dynamic from evolutionary game theory to provide for a sensitivity analysis that encompasses both models and contains the results of both depending on parameter settings.
Does Reducing Spatial Differentiation Increase Product Differentiation? Effects Of Zoning On Retail Entry And Format Variety, Sumon Datta, K. Sudhir
Does Reducing Spatial Differentiation Increase Product Differentiation? Effects Of Zoning On Retail Entry And Format Variety, Sumon Datta, K. Sudhir
Cowles Foundation Discussion Papers
This paper investigates the impact of spatial zoning restrictions on retail market outcomes. We estimate a structural model of entry, location and format choice across a large number of markets in the presence of zoning restrictions. The paper contributes to the literature in three ways: First, the paper demonstrates that the omission of zoning restrictions in the extant literature on entry and location choice leads to biased estimates of the factors affecting market potential and competitive intensity. Second, the cross-market variations in zoning regulations helps us test and provide evidence for the theory that constraints on spatial differentiation will lead …