Spatial Clustering of Housing Construction in the Tokyo Metropolitan Area: An Application of Spatially Clustered Fixed-Effects and Spatially Correlated Random-Effects Models

We proposed two types of econometric models, a spatially clustered fixed-effects model (SCFEM) and a spatially correlated random-effects model (SCREM), to examine area-based panel data. We investigate what factors influence housing construction in the Tokyo Metropolitan Area, incorporating unobservable factors, local regulatory differences in housing development and spillovers of local public or private goods, which may cause spatial clustering or correlation of housing construction. The SCFEM is a type of fixed-effects model where a cluster has the same effects, so that we have to find which areas constitute a cluster. The issue of finding clusters can be regarded as a problem of model selection from too many possible models. We adopt an aggregate prediction error as a model selection criterion, which is estimated by a resampling method, namely leave-one-out cross-validation. We showed by simulations that the estimated parameters of concern are more efficient than the within estimates. The SCREM is a model where the random-effects are spatially correlated. We use the concentrated maximum likelihood method for the estimation. The unobservable area-effects are large in the east, west and north areas of the TMA but small in the south, where regulations against development are more severe than in the other areas. Clusters are found in huge citiescluster-effects model, housing construction, area-based panel data, spatial correlation, spillover effects

A WAY TO SELL GOODS WITH NETWORK EXTERNALITIES

There are a lot of goods which have network externalities. While the number of players who have such a good is small, they may not get enough utility from the goods. That is, players have an incentive to delay their decision, when they purchase the goods with network externalities. Delay causes negative effects on players' utility, so equilibrium with delay is inefficient. We propose a way to settle this problem using a kind of call option. If we use the way and some conditions are satisfied, all players purchase the good and the delay decreases in equilibriumNetwork externality, strategic delay, coordination game

Subgame-perfect free trade networks in a four-country model

Goyal and Joshi (2006, Int Econ Review) apply the notion of ``pairwise stable networks" introduced by Jackson and Wolinsky (1996, J Econ Theory) to a model of free trade network formation, and show that (i) every pairwise stable network is either complete or almost complete (with all countries except one forming direct links), and (ii) the complete network maximizes global welfare. In this note, we use essentially the same model as their model with four countries, and investigate which network is more likely to be realized than others by considering a dynamic process introduced by Jackson and Watts (2002, J Econ Theory).free trade network, network formation, subgame-perfect equilibrium

Flow Injection Analysis of Nitrite Nitrogen in Seawater Introducing Standard Addition Method

A flow injection analysis of nitrite nitrogen (N-NO2-) in the samples which contain relatively high degrees of salt is described. The N-NO2- was optically detected by use of Griess method. Five pseudo-seawater samples containing 40 μg L-1 N-NO2- with 0, 1, 2, 3, or 4% sodium chloride (NaCl) were tested using two quantitative analysis approaches. In an absolute calibration method, approximately 30% of positive errors were found in the presence of NaCl. On the other hand, the errors fell within the range of −2.6 to +7.3% by introducing a standard addition method. The latter method has successfully been applied to the determination of nitrite nitrogen in real seawater and estuary water

Simulation assisted study on structural degradation in advanced SiC/SiC CMC component during high-temperature fatigue

Please click Additional Files below to see the full abstrac