46,408 research outputs found
Trade Costs in U.S. Food Manufacturing Industries
This study allows for variation of trade costs among regions, since a single trade costs measure may not appreciate the large number and diverse regions of the United States through which trade in food manufacturing occurs.trade costs, gravity model, regional development, food manufacturing industries, Agricultural and Food Policy, Consumer/Household Economics, Industrial Organization, International Development, International Relations/Trade, Production Economics,
Stability of Mixed-Strategy-Based Iterative Logit Quantal Response Dynamics in Game Theory
Using the Logit quantal response form as the response function in each step,
the original definition of static quantal response equilibrium (QRE) is
extended into an iterative evolution process. QREs remain as the fixed points
of the dynamic process. However, depending on whether such fixed points are the
long-term solutions of the dynamic process, they can be classified into stable
(SQREs) and unstable (USQREs) equilibriums. This extension resembles the
extension from static Nash equilibriums (NEs) to evolutionary stable solutions
in the framework of evolutionary game theory. The relation between SQREs and
other solution concepts of games, including NEs and QREs, is discussed. Using
experimental data from other published papers, we perform a preliminary
comparison between SQREs, NEs, QREs and the observed behavioral outcomes of
those experiments. For certain games, we determine that SQREs have better
predictive power than QREs and NEs
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