This paper analyses the technical efficiency problem in Gansu Province, West China, using firm-level cross-sectional data. Compared with previous studies, which mostly focus on industries, this paper focuses on a geographic area instead. By applying the stochastic frontier framework, this paper...

The world's oil consumption has been increasing for more than a century with a few exceptions. However, there would be a possibility that the recent increase in oil consumption in developing countries such as China and India tighten the long term oil market. Since the exact amount of oil...

Myopia is important in environmental and resource management problems because they often involve inter temporal decisions over a long time horizon. We present a parsimonious extension of a standard dynamic programming equation in a continuous time and continuous state setting, which enables rich...

With crude oil price largely fluctuating, both oil producing and consuming countries have come to identify the challenges brought by the destabilization of crude oil price. Among those, there have been discussions on fair price, that is, the price level which both consuming and oil producing...

We consider estimation and inference of parameters in discrete games allowing for multiple equilibria, without using an equilibrium selection rule. We do a set inference while a game model can contain infinite dimensional parameters. Examples can include signaling games with discrete types where...

In this paper, we develop a model of collusion in which two firms play an infinitelyrepeated Bertrand game when each firm has a privately-informed agent. The colluding firms, fixing prices, allocate market shares based on the agents information as to cost types. We emphasize that the presence of...

We consider a (deterministic) evolutionary model where players have dynamic expectations about the strategy distribution. We provide a global analysis of the co-evolution of play and expectations for a generic two{by{two game. Besides the the typical indeterminacy of the evolutionary dynamics,...

This paper studies an econometric modeling of a signaling game with two players where one player has one of two types. In particular, we develop an estimation strategy that identies the payos structure and the distribution of types from data of observed actions. We can achieve uniqueness of...

We consider a deterministic evolutionary model where players form expectations about future play. Players are not fully rational and have expectations that change over time in response to current payoffs and feedback from the past. We provide a complete characterization of the qualitative...