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Through trial & error to collusion
Huck, Steffen; Oechssler, Joerg; Normann, Hans-Theo - 1999
In this note we study a very simple trial & error learning process in the context of a Cournot oligopoly. Without any knowledge of the payoff functions players increase, respectively decrease, their quantity by one unit as long as this leads to higher profits. We show that despite the absence of...
Persistent link: https://www.econbiz.de/10009580461
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On the profitability of collusion in location games
Huck, Steffen; Knoblauch, Vicky; Müller, Wieland - 2000
On the basis of a real high stakes insurance experiment with small probabilities of losses, we demonstrate that concern is a more important driver of WTP for insurance than subjective probability estimates when there is ambiguity surrounding the estimate. Concern is still important when...
Persistent link: https://www.econbiz.de/10009583427
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A psychological approach to individual differences in intertemporal consumption patterns
Brandstätter, Hermann; Güth, Werner - 1998
When people decide about saving and consumption across the various periods of their life time they take into account their life expectancy when comparing present and future needs and resources for satisfying them. The experimental design, applied at two sites (Humboldt-University at Berlin and...
Persistent link: https://www.econbiz.de/10009578010
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Forecasting performance of market share attraction models : a comparison of different models assuming that competitors’ actions are forecasts
Klapper, Daniel; Herwartz, Helmut - 1998
Persistent link: https://www.econbiz.de/10009578563
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Testing for short and long-run causality : the case of the yield spread and economic growth
Breitung, Jörg; Candelon, Bertrand - 2001
To assess the predictive content of the interest rate term spread for future economic growth, we distinguish short-run from long-run predictability by using two different approaches. First, following Dufour and Renault (1998) a test procedure is proposed to test for causality at different...
Persistent link: https://www.econbiz.de/10009617950
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Money and banks : some theory and empirical evidence for Germany
Holtemöller, Oliver - 2002
In a world with imperfect competition, market externalities or asymmetric information, the impact of money and monetary … in Germany in the period of monetary targeting from 1975 to 1998 is estimated. The implications of the theoretical model …. -- monetary policy ; Endogenous money ; industrial organization approach to banking theory ; money multiplier ; vector error …
Persistent link: https://www.econbiz.de/10009620766
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Intuitive optimizing for time allocation decisions in newly formed ventures
Lévesque, Moren; Schade, Christian D. - 2002
This article investigates whether decision makers intuitively optimize close to the normative prediction in entrepreneurial decision situations where their time must be allocated between a wage job and a newly formed venture. We offer an analytical model based on maximizing expected utility, and...
Persistent link: https://www.econbiz.de/10009621420
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Real estate valuation according to standardized methods : an empirical analysis
Schulz, Rainer - 2002
monthly data on appraisals and prices for commercial apartment houses in Berlin, Germany from 1980 to 2000. The appraisals are …
Persistent link: https://www.econbiz.de/10009625798
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E-privacy : evaluating a new search cost in online environments
Annacker, Dirk; Spiekermann, Sarah; Strobel, Martin - 2001
Electronic Commerce environments increasingly witness a conflict on the subject of e-privacy: While marketers want to maximize their customer knowledge and grasp the identity of their online users, consumers often want to stay anonymous and not reveal private information. The conflict suggests...
Persistent link: https://www.econbiz.de/10009615417
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Multivariate volatility models
Fengler, Matthias R.; Herwartz, Helmut - 2001
Multivariate Volatility Models belong to the class of nonlinear models for financial data. Here we want to focus on multivariate GARCH models. These models assume that the variance of the innovation distribution follows a time dependent process conditional on information which is generated by...
Persistent link: https://www.econbiz.de/10009615423