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The aim of this paper is to identify which factors explain why some countries are more prone to enjoy long durations of stability, while others experience crises in shorter intervals. To this end, we analyze the duration of stability periods between currency, debt, and banking crises from 1980...
Persistent link: https://www.econbiz.de/10010635131
This paper provides historical and empirical arguments that can explain the development of the Egyptian informal sector. After recalling the various approaches proposed in the literatures, it identifies the configuration that overrides the Egyptian labor market by allowing for the heterogeneity...
Persistent link: https://www.econbiz.de/10011026091
strategic decision-making and show that TI-games open a new field of strategic interaction. We first establish an equivalence … result between static games of incomplete information and static TI-games. We next develop a new solution concept for non …-commuting dynamic TI-games. The updating rule captures the novelty brought about by Type Indeterminacy namely that in addition to …
Persistent link: https://www.econbiz.de/10010738779
This paper analyses how the scoring systems actually and potentially used in a variety of sports and games affect the …
Persistent link: https://www.econbiz.de/10010820794
their income - the higher the risk aversion, the more stable the cooperatives and the lower the segregation. Learning can … high or low-risk, and while they are learning, they tend to create cooperatives that can last. Eventually we worked on the …
Persistent link: https://www.econbiz.de/10010933864
private agents are gradually learning their uncertain environment. When agents update their beliefs about the parameters that … under adaptive learning are significantly larger than under rational expectations. In our benchmark case calibrated using US … data on leverage, debt-to-GDP and land value-to-GDP ratios for 1996Q1-2008Q4, learning amplifies leverage shocks by a …
Persistent link: https://www.econbiz.de/10010933890
data when the agent's beliefs about the model are updated through linear learning algorithms. We find that learning in this … learning algorithm is recursive least squares, long memory arises when the coefficient on expectations is sufficiently large … endogenous variable is determined exogenously. Finally, this property of learning is used to shed light on some well …
Persistent link: https://www.econbiz.de/10009422119
Young children have been largely neglected in research dedicated to the art museum experience. The art exhibition "Tête à tête" ("Face-to-Face"), designed for 5-12 year olds, became an opportunity to bring an exploratory contribution to three research issues: the relationship that the young...
Persistent link: https://www.econbiz.de/10009353856
This paper analyzes an entry timing game with uncertain entry costs. Two firms receive costless signals about the cost of a new project and decide when to invest. We characterize the equilibrium of the investment timing game with private and public signals. We show that competition leads the two...
Persistent link: https://www.econbiz.de/10009368492
. Particularly, as organizational learning is now anchored as an important part of the building and sustaining of the small and … learning and performance is important for managers and researchers. We could hypothesize that, combined with organizational … learning processes, some leaders' characteristics and behaviours are more important than others to lead the development of an …
Persistent link: https://www.econbiz.de/10010549112