Showing 1 - 10 of 14
Since they have been increasingly used in economics, elicitation rules for subjective beliefs are under scrutiny. In this paper, we propose an experimental design to compare the performance of such rules. Contrary to previous works in which elicited beliefs are compared to an objective...
Persistent link: https://www.econbiz.de/10008727364
Internet is a very attractive technology for experiments implementation, both in order to reach more diverse and larger samples and as a field of economic research in its own right. This paper reports on an experiment performed both online and in the laboratory, designed so as to strengthen the...
Persistent link: https://www.econbiz.de/10010711856
The LP formula is based upon the substitution of the exogenous risk aversion hypothesis by a credit equilibrium …-off curve is almost identical across asset classes. In equilibrium, an asset expected blue-sky return is proportional to its …
Persistent link: https://www.econbiz.de/10011123705
characterization of equilibria in pure strategy in this setting. Simple examples show that the existence of a pure strategy equilibrium … does depend on the structure of the network. The characterization of equilibrium we obtain emphasizes on the one hand the …, the strategic players generally have differentiated equilibrium targets, the high-impacts agent focusing on centrality and …
Persistent link: https://www.econbiz.de/10011194457
We consider a pure exchange overlapping generations economy with finitely many commodities and consumers per period having possibly non-complete non transitive preferences. We provide a geometric and direct proof of the Balasko-Shell characterization of Pareto optimal allocation. To avoid some...
Persistent link: https://www.econbiz.de/10011194459
to study the mechanism of transfer between generations, and we show that the existence of an equilibrium can be …
Persistent link: https://www.econbiz.de/10010791256
coalition structure, we show that the stability index relative to the equilibrium, to the beta core and to the exact core is a …
Persistent link: https://www.econbiz.de/10008520968
existence of an equilibrium under assumptions, which are at the same level of generality than the ones for the existence in an …
Persistent link: https://www.econbiz.de/10009645283
We consider the model of a financial exchange economy with finitely many periods having financial restricted participation i.e., each agents portfolio choice is restricted to a closed convex set containing zero, as in Siconolfi [1989]. Time and uncertainty are represented by a finite event-tree....
Persistent link: https://www.econbiz.de/10010617541
general existence result of equilibrium via the existence of quasi-equilibrium, in a financial exchange economy for which …
Persistent link: https://www.econbiz.de/10010617545