Miracle on Sixth Avenue: information externalities and search

Article Abstract:

A theory of search with information externalities was formulated to analyze the resurgence of retail activities in Lower Sixth Avenue, NY after experiencing a long period of recession. The theory explains the Manhattan area's revitalization from a collapsed retail center to one of the country's most fashionable retail area. It emphasizes the significance of learning from the actions of others during search and consolidation process.

Retail Stores, Research, Retail industry, Retail trade

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Trading costs, price, and volume in asset markets

Article Abstract:

The effect of trading costs on valuation and trading practices in an asset market, particularly the housing market, is examined. The use of price and volume indicators by market traders are also evaluated. Using asset markets with frictions as examples, it was found out that volume, as opposed to price, is a better tool in studying market conditions. Moreover, trading costs help explain the downward trend of price rigidity.

Residential Buildings, Residential Building Construction, Residential construction, Housing, Fixed assets

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Mass layoffs and unemployment

Article Abstract:

A new study analyses the incentives provided for groups of workers who are unemployed because of a mass layoff and examines the effect on search behaviour of learning from others.

Unemployment, Layoffs

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