Experimentalists frequently claim that human subjects playing games in the laboratory violate such solution concepts as Nash equilibrium and subgame perfection. This claim is premature. What has been rejected are certain joint hypotheses about preferences, knowledge, and behavior. This note...

Saez-Marti and Weibull [4] investigate the consequences of letting some agents play a myopic best reply to the myopic best reply in Young's [8] bargaining model. This is how they introduce ''cleverness'' of players. We analyze such clever agents in general finite two-player games. We show that...

I förestående undersökning görs ett upprepat tvärsnitt av de svenska hushållens finansiella beteenden (1993 - 1999). Förutom nödvändigheten att följa segmentutvecklingen över tiden, syftar studien också att närmare undersöka hushållens mål för sitt sparande och sin...

This paper examines aggregate savings in a general equilibrium model where infinitely lived households face volatile (and possibly uncertain) income paths, hold a risk-free asset, and face a liquidity constraint. I first show that the equilibrium capital stock in an economy without uncertainty,...

In this study we report an attempt to measure the value adult Swedes impute to an increased survival probability at high ages. A rating scale between the worst possible quality of life (=1) and the best possible quality of life (=10) is used to indicate the quality of life a person expects to...

In the text-book model of dynamic Bertrand competition, competing firms meet the same demand function every period. This is not a satisfactory model of the demand side if consumers can make intertemporal substitution between periods. Each period then leaves some residual demand to future...

This study addresses the question of willingness to pay (WTP) for hormone replacement therapy (HRT) in order to alleviate menopayusal symptoms. A utility model is specified where the individual obtains utility from consumption of goods and health. The purchase of a treatment is represented as a...

In this study we report an attempt to measure the WTP of car owners for a reduction of the probability of being killed in a traffic accident. One group of respondents is offered a safety device to be installed in their car, while another group is offered a public safety program (improved road...

It is not unusual in real-life that one has to choose among finitely many alternatives when the merit of each alternative is not perfectly known. This may be the case when an individual chooses school, doctor or pension plan, or when a firm chooses between alternative R&D projects. Instead of...

In an overlapping generations framework, the effects of exogenous changes in child mortality on fertility and parental welfare in the short run and on fertility, population density and parental welfare in the long run is analyzed in a primitive, land-constrained economy. In a first step a...