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To be best prepared for tomorrow's cities we need to forecast urban travel demand. To this end, this study calibrates an urban travel demand model, which uses the principal structural variables that have been identified in the literature. It uses a robust econometric method, which has been...
Persistent link: https://www.econbiz.de/10008876956
measures over the different status concepts consistent with the same underlying data. We investigate the statistical inference …
Persistent link: https://www.econbiz.de/10009643227
In a general equilibrium model of incomplete markets with nominal assets and adverse selection, Cornet-De Boisdeffre (3) introduced refined concepts of "no-arbitrage" prices and equilibria, which extended to the asymmetric information. We now present the model with numeraire assets and study its...
Persistent link: https://www.econbiz.de/10010750811
In a general equilibrium model of incomplete nominal-asset markets and adverse selection, Cornet-De Boisdeffre [3] introduced refined concepts of "no-arbitrage" prices and equilibria, which extended to the asymmetric information setting the classical concepts of symmetric information. In...
Persistent link: https://www.econbiz.de/10010750867
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