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Competitive Equilibria and the Core of Exchange Economies under Asymmetric Information

Clippel, Geoffroy de - Econometric Society - 2004

I argue in favor of a competitive screening approach for studying the question of coalition formation in exchange economies under asymmetric information. I obtain a new notion of core that refines Wilson (1978)'s coarse core. It is nonempty under the standard regularity conditions. I also...

Persistent link: https://www.econbiz.de/10005130196

The Max-Convolution Approach to Equilibrium Models with Indivisibilities

YANG, Zaifu; SUN, Ning - Econometric Society - 2004

This paper studies a competitive market model for trading indivisible commodities. Commodities can be desirable or undesirable. Agents' preferences depend on the bundle of commodities and the quantity of money they hold. We assume that agents have quasi-linear utilities in money. Using the...

Persistent link: https://www.econbiz.de/10005130244

Global Factor Trade with Differentiated Factor Prices and Factor Intensities

Kwok, Yun-kwong - Econometric Society - 2004

The assumption of internationally identical factor intensity techniques may be one of the major causes of the HOV model's poor performance. To relax this assumption, detailed input-output data are required to compute the factor intensity techniques used in different countries; however, these...

Persistent link: https://www.econbiz.de/10005063671

Demand Side Shocks and Macroeconomic Policy

Dudek, Maciej K. - Econometric Society - 2004

The paper focuses on short run macroeconomic dynamics triggered by demand side shocks. In particular, the paper analyzes, in a general equilibrium framework, the impact of transitory demand side shocks on the behavior of macroeconomic variables and examines the relevance of policy instruments...

Persistent link: https://www.econbiz.de/10005702585

The Dynamic Process of Tax Reform

Krause, Alan - Econometric Society - 2004

The tax reform literature, pioneered by Guesnerie [1977], uses static models but views tax reform as a dynamic process, i.e., as a policy-maker implementing incremental reforms over time. This paper studies tax reform in a dynamic version of the Diamond-Mirrlees-Guesnerie model and focuses on a...

Persistent link: https://www.econbiz.de/10005702588

Optimal Auction Design For Multiple Objects with Externalities

Skreta, Vasiliki; Figueroa, Nicolas - Econometric Society - 2004

In this paper we characterize the optimal allocation mechanism for $N$ objects, (permits), to $I$ potential buyers, (firms). Firms' payoffs depend on their costs, the costs of competitors and on the final allocation of the permits, allowing for externalities, substitutabilities and...

Persistent link: https://www.econbiz.de/10005328894

Network Formation and Cooperation

Balmaceda, Felipe - Econometric Society - 2004

ignores the importance of social networks. In so doing the incentives to mutual cooperation in social matching games in which … the social network is endogenously determined are studied. The main result shows that in atomized societies where there is … is allowed, the type of social networks that arise take different architectures some of them symmetric and some of the …

Persistent link: https://www.econbiz.de/10005328927

Inference of Structural Econometric Models: A Unified Approach

Li, Tong - Econometric Society - 2004

This paper considers the parametric inference of a wide range of structural econometric models. The class of models considered includes those with parameter-dependent support and those derived from game-theoretic models. Inference of those models has raised some important econometric issues....

Persistent link: https://www.econbiz.de/10005328964

Experimental Economics and Other-Regarding Preferences: Public Goods Experiments

Croson, Rachel - Econometric Society - 2004

This talk will describe a stream of research in experimental economics focusing on the illumination and demonstration of other-regarding preferences (ORPs). Evidence will come primarily from public goods experiments, but also bargaining games (ultimatum, dictator, trust, ...

Persistent link: https://www.econbiz.de/10005342182

Efficient Mechanisms for Bilateral Trading with Cooperative Investment

Zhao, Rui Ray - Econometric Society - 2004

This paper analyzes a bilateral trade problem where the seller makes hidden investment that influences the buyer's private valuation. Complete contracts can be written on observable trade decisions. It is shown that efficiency level in investment and trade is negatively related to the scope of...

Persistent link: https://www.econbiz.de/10005063600