Rational expectations in urban economics

Canonical analysis of the classical general equilibrium model demonstrates the existence of an open and dense subset of standard economies that possess fully-revealing rational expectations equilibria. This paper shows that the analogous result is not true in urban economies. An open subset of economies where none of the rational expectations equilibria fully reveal private information is found. There are two important pieces. First, there can be information about a location known by a consumer who does not live in that location in equilibrium, and thus the equilibrium rent does not reflect this information. Second, if a consumer’s utility depends only on information about their (endogenous) location of residence, perturbations of utility naturally do not incorporate information about other locations conditional on their location of residence. Existence of a rational expectations equilibrium is proved. Space can prevent housing prices from transmitting information from informed to uninformed households, resulting in an inefficient outcome.Urban Economics; General Equilibrium; Private Information; Rational Expectations

Locational signaling and agglomeration

Agglomeration can be caused by asymmetric information and a locational signaling effect: The location choice of workers signals their productivity to potential employers. The cost of a signal is the cost of housing at a location. When workers’ price elasticity of demand for housing is negatively correlated with their productivity, skill-biased technological change causes a core-periphery bifurcation where the agglomeration of high-skill workers eventually constitutes a unique stable equilibrium. When workers’ price elasticity of demand for housing and their productivity are positively correlated, skill-biased technological improvements will never result in a core periphery equilibrium. This paper claims that location can at best be an approximate rather than a precise sieve for high-skill workers.Agglomeration; Adverse Selection; Asymmetric Information; Locational Signaling

Rational expectations in urban economics

Canonical analysis of the classical general equilibrium model demonstrates the existence of an open and dense subset of standard economies that possess fully-revealing rational expectations equilibria. This paper shows that the analogous result is not true in urban economies. An open subset of economies where none of the rational expectations equilibria fully reveal private information is found. There are two important pieces. First, there can be information about a location known by a consumer who does not live in that location in equilibrium, and thus the equilibrium rent does not reflect this information. Second, if a consumer’s utility depends only on information about their (endogenous) location of residence, perturbations of utility naturally do not incorporate information about other locations conditional on their location of residence. Existence of a rational expectations equilibrium is proved. Space can prevent housing prices from transmitting information from informed to uninformed households, resulting in an inefficient outcome.Urban Economics; General Equilibrium; Private Information; Rational Expectations

Rational expectations in urban economics

Canonical analysis of the classical general equilibrium model demonstrates the existence of an open and dense subset of standard economies that possess fully-revealing rational expectations equilibria. This paper shows that the analogous result is not true in urban economies under reasonable modifications for this field. An open subset of economies where none of the modified rational expectations equilibria fully reveals private information is found. There are two important pieces. First, there can be information about a location known by a consumer who does not live in that location in equilibrium, and thus the equilibrium rent does not reflect this information. Second, if a consumer's utility depends only on information about their (endogenous) location of residence, perturbations of utility naturally do not incorporate information about other locations conditional on the consumer's location of residence. Existence of equilibrium is proved. Space can prevent housing prices from transmitting information from informed to uninformed households, resulting in an inefficient outcome.Urban Economics; General Equilibrium; Private Information; Rational Expectations

Locational signaling and agglomeration

Agglomeration can be caused by asymmetric information and a locational signaling effect: The location choice of workers signals their productivity to potential employers. The cost of a signal is the cost of housing at a location. When workers' marginal utility of housing is negatively correlated with their productivity, skill-biased technological change causes a core-periphery bifurcation where the agglomeration of high-skill workers eventually constitutes a unique stable equilibrium. When workers' marginal utility of housing and their productivity are positively correlated, skill-biased technological improvements will never result in a core-periphery equilibrium. Location can at best be an approximate rather than a precise sieve for high-skill workers.Agglomeration; Adverse Selection; Asymmetric Information; Locational Signaling

Rational Expectations in Urban Economics

Canonical analysis of the classical general equilibrium model demonstrates the existence of an open and dense subset of standard economies that possess fully-revealing rational expectations equilibria. This paper shows that the analogous result is not true in urban economies under reasonable modifications for this field. An open subset of economies where none of the modified rational expectations equilibria fully reveals private information is found. There are two important pieces. First, there can be information about a location known by a consumer who does not live in that location in equilibrium, and thus the equilibrium rent does not reflect this information. Second, if a consumer's utility depends only on information about their (endogenous) location of residence, perturbations of utility naturally do not incorporate information about other locations conditional on their location of residence. Existence of equilibrium is proved. Space can prevent housing prices from transmitting information from informed to uninformed households, resulting in an inefficient outcome.Urban Economics; General Equilibrium; Private Information; Rational Expectations

Cournot Competition Yields Spatial Avoiding Competition in Groups

This paper characterizes the properties of equilibrium location patterns in an Anderson-Neven-Pal model and uses these characteristics to comprehensively find the subgame perfect Nash equilibria, most of which are not yet found in the literature. Since the external competition effect may be exactly canceled out, or internal competition strictly dominates external competition, or the internal competition effect is consistent with the external competition effect, therefore without any externality and prior collusion, a competitive group structure may form endogenously in equilibrium and firms tend to avoid competition inside each group. The analyses of an Anderson-Neven-Pal model are instructive in studying the conditions for a capacity to implement a ``Nash combination."Cournot competition; Spatial competition; Nash equilibrium

Intramuscular Hemangioma of the Temporalis Muscle With Incidental Finding of Bilateral Symmetric Calcification of the Basal Ganglia: A Case Report

We report an 11-year-old boy whose brain computed tomography findings incidentally revealed bilateral basal ganglia calcification. He was symptom-free and had no abnormal neurological findings. He was diagnosed with Fahr's disease based on radiological findings and after excluding other etiologies such as infection, metabolic disorders, congenital malformation and malignancies. Most of the reported cases display an autosomal dominant mode of inheritance. Although Fahr's disease is a rare cause of basal ganglia calcification in children, this disease should be considered in children with a family history of neuropsychiatric disorders

Investigation of Structural Dynamics of Enzymes and Protonation States of Substrates Using Computational Tools.

This review discusses the use of molecular modeling tools, together with existing experimental findings, to provide a complete atomic-level description of enzyme dynamics and function. We focus on functionally relevant conformational dynamics of enzymes and the protonation states of substrates. The conformational fluctuations of enzymes usually play a crucial role in substrate recognition and catalysis. Protein dynamics can be altered by a tiny change in a molecular system such as different protonation states of various intermediates or by a significant perturbation such as a ligand association. Here we review recent advances in applying atomistic molecular dynamics (MD) simulations to investigate allosteric and network regulation of tryptophan synthase (TRPS) and protonation states of its intermediates and catalysis. In addition, we review studies using quantum mechanics/molecular mechanics (QM/MM) methods to investigate the protonation states of catalytic residues of β-Ketoacyl ACP synthase I (KasA). We also discuss modeling of large-scale protein motions for HIV-1 protease with coarse-grained Brownian dynamics (BD) simulations

High-Mobility Pentacene-Based Thin-Film Transistors With a Solution-Processed Barium Titanate Insulator

Abstract—Pentacene-based organic thin-film transistors (OTFTs) with solution-processed barium titanate (Ba1.2Ti0.8O3) as a gate insulator are demonstrated. The electrical properties of pentacene-based TFTs show a high field-effect mobility of 8.85 cm2 · V−1 · s−1, a low threshold voltage of −1.89 V, and a low subthreshold slope swing of 310 mV/decade. The chemical composition and binding energy of solution-processed barium titanate thin films are analyzed through X-ray photoelectron spectroscopy. The matching surface energy on the surface of the barium titanate thin film is 43.12 mJ · m−2, which leads to Stranski–Krastanov mode growth, and thus, high mobility is exhibited in pentacene-based TFTs. Index Terms—Barium titanate, high field-effect mobility, high permittivity, organic thin-filmtransistor (OTFT), solution process