Demand for Cultural Heritage

Prepared for the Handbook of the Economics of Cultural Heritage. Forthcoming in Edgard Elgar Publisher. Anna Mignosa and Ilde Rizzo (editors)

Monopoly Price Discrimination and Demand Curvature

Published as an article in: American Economic Review, 2010, vol. 100, issue 4, pages 1601-15.

Non-Stationary Demand in a Durable Goods Monopoly

In a context where demand for the services of a durable good changes over time, and this change may be uncertain, the paper shows that social welfare may be higher when the monopolist seller can commit to any future price level she wishes than when she cannot. Moreover, the equilibrium under a monopolist with commitment power may Pareto-dominate the equilibrium under a monopolist without commitment ability. These results affect the desired regulation of a durable goods monopolist in this context.

A review of travel time estimation and forecasting for advanced traveler information systems

Providing on line travel time information to commuters has become an important issue for Advanced Traveler Information Systems and Route Guidance Systems in the past years, due to the increasing traffic volume and congestion in the road networks. Travel time is one of the most useful traffic variables because it is more intuitive than other traffic variables such as flow, occupancy or density, and is useful for travelers in decision making. The aim of this paper is to present a global view of the literature on the modeling of travel time, introducing crucial concepts and giving a thorough classification of the existing tech- niques. Most of the attention will focus on travel time estimation and travel time prediction, which are generally not presented together. The main goals of these models, the study areas and methodologies used to carry out these tasks will be further explored and categorized.

Monopoly price discrimination with constant elasticity demand

This paper presents new results on the welfare e¤ects of third-degree price discrimination under constant elasticity demand. We show that when both the share of the strong market under uniform pricing and the elasticity di¤erence between markets are high enough,then price discrimination not only can increase social welfare but also consumer surplus.

Emergent synchronisation properties of a refrigerator demand side management system

In order to analyse the possibilities of improving grid stability on island systems by local demand response mechanisms,a multi-agent simulation model is presented. To support the primary reserve, an under-frequency load shedding (UFLS)using refrigerator loads is modelled. The model represents the system at multiple scales, by recreating each refrigerator individually, and coupling the whole population of refrigerators to a model which simulates the frequency response of the energy system, allowing for cross-scale interactions. Using a simple UFLS strategy, emergent phenomena appear in the simulation. Synchronisation e ects among the individual loads were discovered, which can have strong, undesirable impacts on the system such as oscillations of loads and frequency. The phase transition from a stable to an oscillating system is discussed.

On demand translation for querying incompletely aligned datasets

More and more users aim at taking advantage of the existing Linked Open Data environment to formulate a query over a dataset and to then try to process the same query over different datasets, one after another, in order to obtain a broader set of answers. However, the heterogeneity of vocabularies used in the datasets on the one side, and the fact that the number of alignments among those datasets is scarce on the other, makes that querying task difficult for them. Considering this scenario we present in this paper a proposal that allows on demand translations of queries formulated over an original dataset, into queries expressed using the vocabulary of a targeted dataset. Our approach relieves users from knowing the vocabulary used in the targeted datasets and even more it considers situations where alignments do not exist or they are not suitable for the formulated query. Therefore, in order to favour the possibility of getting answers, sometimes there is no guarantee of obtaining a semantically equivalent translation. The core component of our proposal is a query rewriting model that considers a set of transformation rules devised from a pragmatic point of view. The feasibility of our scheme has been validated with queries defined in well known benchmarks and SPARQL endpoint logs, as the obtained results confirm.

The Role of the Demand for Environmental Quality in Driving Transitions to Low-Polluting Energy Sources

4 p.

The Long Run Demand for Lighting: Elasticities and Rebound Effects in Different Phases of Economic Development

25 p.

Price Premium for High-Efficiency Refrigerators and Calculation of Price-Elasticities for Close-Substitutes: Combining Hedonic Pricing and Demand Systems

21 p.

The Demand for Environmental Quality in Driving Transitions to Low Polluting Energy Sources

38 p.

Trends in Income and Price Elasticities of Transport Demand (1850-2010)

40 p.

Long Run Demand for Energy Services: the Role of Economic and Technological Development

36 p.

Decarbonising urban transportation

18 p.

Cointegration analysis of money demand in the Euro Area

The analysis of the evolution of the M3 money aggregate is an important element in the definition and implementation of monetary policy for the ECB. A well-defined and stable long run demand function is an essential requisite for M3 to be a valid monetary tool. Therefore, this paper analyzes based in cointegration techniques the existence of a long run money demand, estimating it and testing its stability for the Euro Area and for ten of its member countries. Specifically, bearing in mind the high degree of monetary instability that the current economic crisis has created in the Euro Area, we also test whether this has had a noticeable impact in the cointegration among real money demand and its determinants. The analysis gives evidence of the existence of a long run relationship when the aggregated Euro Area and six of the ten countries are considered. However, these relationships are highly instable since the outbreak of the financial crisis, leading in some cases to even rejecting cointegration. All this suggests that the ECB’s strategy of focusing in the M3 monetary aggregates could not be a convenient approach under the current circumstances