8,278 research outputs found
Relationship-Specific Sunk Costs and Exporter Decisions
Using macro-level trade data, we investigate how different types of sunk costs influence decisions of exporters. We find that exportersâ decisions reflect sensibly their desire to minimize the relationship-specific sunk costs. Specifically, exporters of differentiated products are more likely to reenter the export market than exporters of homogenous products. Also, the former are more likely to stay in the export market and exhibit more stability when doing so than the later. All of our findings are consistent with the view that relationship with their foreign partners matters more for trade in differentiated products than in homogenous ones.International Trade; Market Reentry, Market Exit, Networks; Sunk Costs; Transition Probability Matrix
Linearized Asymptotic Stability for Fractional Differential Equations
We prove the theorem of linearized asymptotic stability for fractional
differential equations. More precisely, we show that an equilibrium of a
nonlinear Caputo fractional differential equation is asymptotically stable if
its linearization at the equilibrium is asymptotically stable. As a consequence
we extend Lyapunov's first method to fractional differential equations by
proving that if the spectrum of the linearization is contained in the sector
\{\lambda \in \C : |\arg \lambda| > \frac{\alpha \pi}{2}\} where
denotes the order of the fractional differential equation, then the equilibrium
of the nonlinear fractional differential equation is asymptotically stable
Trading on time
The authors determine how time delays affect international trade using newly collected World Bank data on the days it takes to move standard cargo from the factory gate to the ship in 126 countries. They estimate a modified gravity equation, controlling for endogeneity and remoteness. On average, each additional day that a product is delayed prior to being shipped reduces trade by at least 1 percent. Put differently, each day is equivalent to a country distancing itself from its trade partners by 70 kilometers on average. Delays have an even greater impact on developing country exports and exports of time-sensitive goods, such as perishable agricultural products. In particular, a day's delay reduces a country's relative exports of time-sensitive to time-insensitive agricultural goods by 6 percent.Free Trade,Economic Theory&Research,Trade Policy,Common Carriers Industry,Transport and Trade Logistics
Collaborative Inference of Coexisting Information Diffusions
Recently, \textit{diffusion history inference} has become an emerging
research topic due to its great benefits for various applications, whose
purpose is to reconstruct the missing histories of information diffusion traces
according to incomplete observations. The existing methods, however, often
focus only on single information diffusion trace, while in a real-world social
network, there often coexist multiple information diffusions over the same
network. In this paper, we propose a novel approach called Collaborative
Inference Model (CIM) for the problem of the inference of coexisting
information diffusions. By exploiting the synergism between the coexisting
information diffusions, CIM holistically models multiple information diffusions
as a sparse 4th-order tensor called Coexisting Diffusions Tensor (CDT) without
any prior assumption of diffusion models, and collaboratively infers the
histories of the coexisting information diffusions via a low-rank approximation
of CDT with a fusion of heterogeneous constraints generated from additional
data sources. To improve the efficiency, we further propose an optimal
algorithm called Time Window based Parallel Decomposition Algorithm (TWPDA),
which can speed up the inference without compromise on the accuracy by
utilizing the temporal locality of information diffusions. The extensive
experiments conducted on real world datasets and synthetic datasets verify the
effectiveness and efficiency of CIM and TWPDA
Effects of GATT/WTO on Asia's Trade Performance
Our review of the literature suggests that the effects of GATT/WTO are insignificant or relatively small for participants in general, but potentially very large for groups that make heavy use of it. Our empirical analysis suggests that these gains are disproportionately large for the Asia-Pacific countriesĂâperhaps by reducing resistance to the rapid growth and change in trade patterns in the region. We also highlight a potentially important source of future gains through helping to restrain the costly growth of agricultural protection in rapidly-developing countries in the region.Asian trade growth, GATT commitments, WTO accession
SURGE: Continuous Detection of Bursty Regions Over a Stream of Spatial Objects
With the proliferation of mobile devices and location-based services,
continuous generation of massive volume of streaming spatial objects (i.e.,
geo-tagged data) opens up new opportunities to address real-world problems by
analyzing them. In this paper, we present a novel continuous bursty region
detection problem that aims to continuously detect a bursty region of a given
size in a specified geographical area from a stream of spatial objects.
Specifically, a bursty region shows maximum spike in the number of spatial
objects in a given time window. The problem is useful in addressing several
real-world challenges such as surge pricing problem in online transportation
and disease outbreak detection. To solve the problem, we propose an exact
solution and two approximate solutions, and the approximation ratio is
in terms of the burst score, where is a parameter
to control the burst score. We further extend these solutions to support
detection of top- bursty regions. Extensive experiments with real-world data
are conducted to demonstrate the efficiency and effectiveness of our solutions
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