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Intermediate microeconomics : A modern approach
01 Jan 2006-
TL;DR: The Varian approach as mentioned in this paper gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation, and is still the most modern presentation of the subject.
Abstract: This best-selling text is still the most modern presentation of the subject. The Varian approach gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation.
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TL;DR: In particular, there is a notable lack of recent empirical work to estimate the responsiveness of helium demand, supply, prices, and trade patterns to the ongoing drawdown and sale of helium reserves stored in the U.S. Federal Helium Reserve (FHR) as discussed by the authors.
Abstract: In 2017, disruptions in the global supply of helium reminded consumers, distributors, and policy makers that the global helium supply chain lacks flexibility, and that attempts to increase production from the U.S. Federal Helium Reserve (the FHR) may not be able to compensate for the loss of one of the few major producers in the world. Issues with U.S. and global markets for helium include inelastic demand, economic availability of helium only as a byproduct, only 4–5 major producers, helium’s propensity to escape earth’s crust, an ongoing absence of storage facilities comparable to the FHR, and a lack of consequences for the venting of helium. The complex combination of these economic, physical, and regulatory issues is unique to helium, and determining helium’s practical availability goes far beyond estimating the technically accessible volume of underground resources. Although most of these issues have been analyzed since helium was recognized to be a valuable mineral commodity in the early 1900s, very few economic models have been developed that adequately consider the unique characteristics of helium and helium markets. In particular, there is a notable lack of recent empirical work to estimate the responsiveness of helium demand, supply, prices, and trade patterns to the ongoing drawdown and sale of helium reserves stored in the FHR. In general, existing models of helium either do not account for an oligopoly controlling supply, or they do not evaluate potential helium extraction and storage programs based on an intertemporal maximization of the value of the resource. Such models could be of very limited use to decision makers. This review found only one working paper with a helium market model that has incorporated both of these vital considerations. That and other economic studies along similar lines could be very useful in helping inform current helium policy discussions and decisions.
36 citations
Cites background from "Intermediate microeconomics : A mod..."
...If the demand elasticity is less than one in absolute value, then demand is defined as inelastic (Varian 1990)....
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01 Jan 2008
TL;DR: Through a review of related literature in information visualization and decision support, different roles that visualization technologies could play in decision support are identified and how evaluation studies could help decision makers take better advantage of existing visualization technologies are elaborate.
Abstract: While the amount of business information increases at a phenomenal rate, decision makers could easily feel overloaded. Simultaneously, they could also feel the lack of related information for decisions at hand. Various visualization techniques have been developed to help people gain more value from large-scale information collections, but applying visualization in the context of decision-making is not well understood. Through a review of related literature in information visualization and decision support, we identify different roles that visualization technologies could play in decision support. We also elaborate how evaluation studies could help decision makers take better advantage of existing visualization technologies.
36 citations
TL;DR: A novel sequential latent variable model, named MTLVM, is developed, which is designed for capturing the sequential dependencies of corporate recruitment states and is able to automatically learn the latent recruitment topics within a Bayesian generative framework.
Abstract: Recruitment market analysis provides valuable understanding of industry-specific economic growth and plays an important role for both employers and job seekers. With the rapid development of online recruitment services, massive recruitment data have been accumulated and enable a new paradigm for recruitment market analysis. However, traditional methods for recruitment market analysis largely rely on the knowledge of domain experts and classic statistical models, which are usually too general to model large-scale dynamic recruitment data, and have difficulties to capture the fine-grained market trends. To this end, in this paper, we propose a new research paradigm for recruitment market analysis by leveraging unsupervised learning techniques for automatically discovering recruitment market trends based on large-scale recruitment data. Specifically, we develop a novel sequential latent variable model, named MTLVM, which is designed for capturing the sequential dependencies of corporate recruitment states and is able to automatically learn the latent recruitment topics within a Bayesian generative framework. In particular, to capture the variability of recruitment topics over time, we design hierarchical dirichlet processes for MTLVM. These processes allow to dynamically generate the evolving recruitment topics. Finally, we implement a prototype system to empirically evaluate our approach based on real-world recruitment data in China. Indeed, by visualizing the results from MTLVM, we can successfully reveal many interesting findings, such as the popularity of LBS related jobs reached the peak in the 2nd half of 2014, and decreased in 2015.
36 citations
Cites background from "Intermediate microeconomics : A mod..."
...Recruitment market analysis is a classic topic in human capital economics, where recruitment market is either treated as a factor of macro economic phenomenons or the analysis is focused on advising people to make the best job decisions in a general economic framework [26, 27, 29]....
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...In another Micro perspective, which is more relevant to our paper, all studies are set off from a basic market cleaning framework [29], where all employees choose their best balance between leisure and work, while all employers hire with budget constrain, and consequently the wage is derived as the marginal labor cost....
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TL;DR: How to use IT to deploy trust-based regulation in the government-to-business (G2B) relationship, with the Authorized Economic Operator (AEO) certification in the Netherlands between the Tax and Customs administrations and the businesses as a case study is analyzed.
35 citations
TL;DR: An economic model for resource sharing in large-scale distributed systems captures traditional concepts such as consumer satisfaction and provider revenues and enables us to analyze the effect of different pricing strategies upon measures of performance important for the consumers and the providers.
35 citations