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1 - 10 van 55 voor representative consumer
competition and access price regulation broadband market pdf
... analysis tractable, we assume that a representative consumer has a linear inverse demand function given by p -bq where p denotes the vector of prices that a consumer pays for the services, q ... qt b q from this utility function exactly the same demand system arises when the representative consumer maximizes his utility given his budget constraint. 4 since the analysis is ex post with ...
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discounting investments mitigation and adaptation pdf
... representative consumer maximizes expected utility of these consumption goods over time ( ), ( ) t o j e e u c t t t dt - (2.1) where (.)u denotes the utility function of the representative consumer ... special case where the growth of the economy follows a stationary random process and the representative agent has a constant relative risk aversion, the wealth and uncertainty effect exactly compensate ...
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G:\data\pdf\lijesen\disc16.wpd [PFP#1221338023]
... energy from retailers. the number of retailers is determined exogenously. consider the case where a representative consumer in sector s purchases energy from retailer i. his net utility consists of the utility ... . we assume customers to switch between providers based on the net utility they offer. the representative consumer will switch from firm i to firm j if .jsis vv obviously, this would imply ...
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Microsoft Word - memo140.doc
... consumer chooses a product closest to their ideal variety subject to the price of the good. monopolistic competition is usually conceptualized using the representative consumer model. the utility of the representative consumer ...
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memo43.pdf
... expanded to a larger number of players. we start with a simple framework. consider a representative consumer, purchasing energy from firm i. his net utility consists of the utility gained from being ... this is a discrete choice, any consumer chooses one provider. we assume consumers to switch between providers based on the net utility they offer. the representative consumer will switch from firm i to ...
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Microsoft Word - discussion49.doc
... there is no home bias in preferences. the utility of the representative consumer in country j is framed as a ces-utility function a ... representative consumer in country j reads r i n v vijvij j j jxp p y ij where jy represents real income in country j, vijp is the consumer ... less general nature, or at least they can be considered as representative (pars pro toto) for a country's overall product market ...
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skill premium technological change and appropriability pdf
... clear. 2.2 preferences and households' behaviour the consumer side of the model follows the by now standard approach of growth theory. the representative consumer cares about an index (c) of differentiated consumption ... assume that firms are symmetric. because the mass of firms is one, in equilibrium the representative firm absorbs all labour (li l and hfi hf h). the symmetry assumption 15 13 ...
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worldscan-core-version.pdf
... consume relatively more now than in the future. ct represents the consumption volume of the representative agent in period t, and its utility is given by v(ct). utility is thus ... with the cobb-douglas specification of the instantaneous utility function. maximisation of utility (by a representative consumer) is constrained by total nominal consumption expenditure. as a result, we get pscs gs pcc ...
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Microsoft Word - discussion130.doc
... he associates with each location i a collection of consumers, modelled as a single, representative, consumer i. this agrees with the practice of transportation modelling. we generalize by considering ... 38(2), pp. 275-307. kidokoro, yukihiro, 2006, benefit estimation of transport projects - a representative consumer approach, transportation research part b, 40, pp. 512-542. mackie, p., j. nellthorp, j ...
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cpb discussion paper 196 wage inequality trade tasks models pdf
... for the imported intermediate inputs . finally, throughout our setting welfare (w) is defined as the representative consumer's utility. 7 3.1 offshoring costs to run numerical simulations on the grh model ...
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