No abstract

We report a laboratory experiment aimed at investigating factors affecting choice between different versions of a full-length movie. In particular, we estimate the willingness to pay for a legal, rather than pirated copy and compare it to the impact of such characteristics as picture quality or delay in delivery. We find a modest but highly significant preference for the authorized version. By conducting otherwise identical choice experiments both with and without actual experiential and monetary consequences, we conclude that the method does not seem to suffer from hypothetical bias. We also find that when the proceeds from legal sale are transferred to a good cause, willingness to pay for the unauthorized copy is reduced.

The paper combines theoretical models of housing and business locations and shows that they have the same determinants. It evidences that classical, behavioural, new economic geography, evolutionary and co-evolutionary frameworks apply simultaneously, and one should consider them jointly when explaining urban structure. We use quantitative tools in a theory-guided factors induction approach to show the complexity of location models. The paper discusses and measures spatial phenomena as distance-decaying gradients, spatial discontinuities, densities, spillovers, spatial interactions, agglomerations, and as multimodal processes. We illustrate the theoretical discussion with an empirical case of interacting point-patterns for business, housing, and population. The analysis reveals strong links between housing valuation and business location and profitability, accompanied by the related spatial phenomena. It also shows that assumptions concerning unimodal spatial urban structure, the existence of rational maximisers, distance-decaying externalities, and a single pattern of behaviour, do not hold. Instead, the reality entails consideration of multimodality, a mixture of maximisers and satisfiers, incomplete information, appearance of spatial interactions, feed-back loops, as well as the existence of persistence of behaviour, with slow and costly adjustments of location.

No abstract

No abstract