Similar Search Results

Stochastic stability in finite extensive-form games of perfect information

Xu, Zibo - Economics Institute for Research (SIR), … - 2013

We consider a basic stochastic evolutionary model with rare mutation and a best-reply (or better-reply) selection mechanism. Following Young's papers, we call a state stochastically stable if its long-term relative frequency of occurrence is bounded away from zero as the mutation rate decreases...

Persistent link: https://www.econbiz.de/10010631448

Finding all minimal CURB sets

Klimm, Max; Weibull, Jörgen - Economics Institute for Research (SIR), … - 2009

replies to all probabilistic beliefs over the set. We present an algorithm that computes all minimal sCURB sets in any given … finite game. Runtime measurements on two-player games (where the concepts of CURB and sCURB coincide) show that the algorithm … is considerably faster than the earlier developed algorithm, that of Benisch et al. (2006). …

Persistent link: https://www.econbiz.de/10008556972

Voting over tax schedules in the presence of tax avoidance

Roine, Jesper - Economics Institute for Research (SIR), … - 2003

This paper reconsiders the classical problem of majority voting over tax schedules, adding the possibility to avoid taxes. In this setting preferences over tax schedules are not determined by earned income, but rather by taxable income, which depends on the joint decisions of labor supply and...

Persistent link: https://www.econbiz.de/10005190899

Trade Deficits in the Baltic States: How Long Will the Party Last?

Bems, Rudolfs; Jönsson Hartelius, Kristian - Economics Institute for Research (SIR), … - 2003

Since their opening up to international capital markets, the economies of Estonia, Latvia and Lithuania have experienced large and persistent capital inflows and trade deficits. This paper investigates whether a calibrated two-sector neoclassical growth model can explain the magnitudes and the...

Persistent link: https://www.econbiz.de/10005649209

Real Exchange Rate and Consumption Fluctuations following Trade Liberalization

Jönsson, Kristian - Economics Institute for Research (SIR), … - 2004

Two-sector models with traded and non-traded goods have problems accounting for the stylized fact that the real exchange rate appreciates and consumption booms for several years following trade liberalization, or exchange-rate-based stabilization programs, in small open economies. The paper...

Persistent link: https://www.econbiz.de/10005649267

Optimal Investment under Partial Information

Björk, Tomas; Davis, Mark H.A.; Landén, Camilla - Economics Institute for Research (SIR), … - 2010

We consider the problem of maximizing terminal utility in a model where asset prices are driven by Wiener processes, but where the various rates of returns are allowed to be arbitrary semimartingales. The only information available to the investor is the one generated by the asset prices and, in...

Persistent link: https://www.econbiz.de/10010611627

An axiomatization of the Euclidean compromise solution

Voorneveld, Mark; van den Nouweland, Anne; McLean, Rich - Economics Institute for Research (SIR), … - 2008

The utopia point of a multicriteria optimization problem is the vector that specifies for each criterion the most favourable among the feasible values. The Euclidean compromise solution in multicriteria optimization is a solution concept that assigns to a feasible set the alternative with...

Persistent link: https://www.econbiz.de/10005771185

Comparative Dynamics in Health Economics: Some Useful Results

Johansson, Per-Olov; Löfgren, Karl-Gustav - Economics Institute for Research (SIR), … - 1994

In analysis of atemporal models, comparative statics experiments are typically carried out, often employing envelope properties, such as Roy's identity, Hotelling's lemma and Shephard's lemma, in order to simplify the analysis. In analysis of dynamic models, such experiments are seldom...

Persistent link: https://www.econbiz.de/10005423796

Building neural network models for time series: A statistical approach

Medeiros, Marcelo C.; Teräsvirta, Timo; Rech, Gianluigi - Economics Institute for Research (SIR), … - 2002

This paper is concerned with modelling time series by single hidden-layer feedforward neural network models. A coherent modelling strategy based on statistical inference is presented. Variable selection is carried out using existing techniques. The problem of selecting the number of hidden units...

Persistent link: https://www.econbiz.de/10005649189

Solution and Estimation of RE Macromodels with Optimal Policy

Söderlind, Paul - Economics Institute for Research (SIR), … - 1998

Macro models of monetary policy typically involve forward looking behavior. Except in rare circumstances, we have to apply some numerical method to find the the optimal policy and the rational expectations equilibrium. This paper summarizes a few useful methods, and shows how they can be...

Persistent link: https://www.econbiz.de/10005649196