Fujita, Y. (2007) Toward a New Modeling of International Economics: An Attempt to Reformulate an International Trade Model Based on Real Option Theory. Physica A: Statistical Mechanics and its Applications, 383, 507-512.
https://doi.org/10.1016/j.physa.2007.04.041

has been cited by the following article:

• TITLE: Does Immigration Promote the Investment of the Monopolistic Firm?

  AUTHORS: Yasunori Fujita

  KEYWORDS: Optimal Stopping Theory, Geometric Brownian Motion, Value of Waiting, Immigrants, Monopolistic Power over Labor Market

  JOURNAL NAME: Modern Economy, Vol.8 No.3, March 21, 2017

  ABSTRACT: In the present paper, we examine the effect of increasing uncertainty of immigrants’ growth on the optimal timing of investment of a firm that has a monopolistic power over the labor market. It is revealed that when the uncertainty of immigrants’ growth is more than a threshold level, increasing uncertainty of immigrants’ growth accelerates the optimal timing of firms’ investment and enhances the economic growth, even if the uncertainty of immigrants’ growth is formulated by the geometric Brownian motion, which is in sharp contrast to the standard result that an increase in the uncertainty postpones the optimal timing.