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Tax liability side equivalence in experimental posted-offer markets
Borck, Rainald; Engelmann, Dirk; Müller, Wieland; … - 2000
In theory, the incidence of a tax should be independent of which side of the market it is levied on. This principle of … equivalence. We find that market outcomes are essentially the same when the tax is levied on sellers as when it is levied on … equivalence. -- Tax Liability ; Posted Offer Market ; Experimental Economics …
Persistent link: https://www.econbiz.de/10009582390
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Capacity choices and price competition in experimental markets
Anderhub, Vital; Güth, Werner; Kamecke, Ulrich; … - 2001
setting behavior is in general consistent with the theory. Capacities converge above the Cournot level. Sellers rarely manage …
Persistent link: https://www.econbiz.de/10009612564
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Manipulation in political stock markets : preconditions and evidence
Hansen, Jan; Schmidt, Carsten; Strobel, Martin - 2001
Political stock markets (PSM) are sometimes seen as substitutes for opinion polls. On the bases of a behavioral model, specific preconditions were drawn out under which manipulation in PSM can weaken this argument. Evidence for manipulation is reported from the data of two separate PSM during...
Persistent link: https://www.econbiz.de/10009614875
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Predictive accuracy of political stock markets : empirical evidence from a European perspective
Berlemann, Michael; Schmidt, Carsten - 2001
stock markets relative to the polls is market efficiency. Even though the overall predictions of the political stock markets … attributed to the vote share size and to individual trader biases. -- market efficiency ; forecasting ; political stock markets …
Persistent link: https://www.econbiz.de/10009614879
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Quantile hedging
Föllmer, Hans; Leukert, Peter - 1998
In a complete financial market every contingent claim can be hedged perfectly. In an incomplete market it is possible …
Persistent link: https://www.econbiz.de/10009574876
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On model based seasonal adjustment procedures
Breitung, Jörg - 1998
In this note the unobserved component approach underlying the software package SEATS is compared with the Beveridge-Nelson type of decomposition for seasonal time series. The main strength of the SEATS approach lies in the appealing model formulation and the careful specification and adjustment...
Persistent link: https://www.econbiz.de/10009574877
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The monetary model of the exchange rate : a structural interpretation
Moersch, Mathias; Nautz, Dieter - 1998
We emphasize the importance of properly identifying the long-run relations underlying the monetary model of the exchange rate. The separate estimation of long-run money demands leads to a "structural" error correction equation which allows an interpretation of the various channels affecting the...
Persistent link: https://www.econbiz.de/10009574885
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Sequential versus independent commitment : an indirect evolutionary analysis of bargaining rules
Güth, Werner - 1998 - Rev.
Rational bargaining behavior depends crucially on the rules of bargaining, especially on whether parties decide sequentially or independently. Whereas in ultimatum bargaining the proposer can exploit the responder, independent commitments result in more balanced payoffs. To limit the scope of...
Persistent link: https://www.econbiz.de/10009574886
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Smooth discrimination analysis
Mammen, Enno; Cybakov, Aleksandr B. - 1998
Discriminant analysis for two data sets in IRd with probability densities f and g can be based on the estimation of the set G = {x : f(x) ≥ g(x)}. We consider applications where it is appropriate to assume that the region G has a smooth boundary. In particular, this assumption makes sense if...
Persistent link: https://www.econbiz.de/10009574887
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Local risk-minimization under transaction costs
Lamberton, Damien; Pham, Huyên; Schweizer, Martin - 1998
incomplete market in discrete time. Under the assumptions of a bounded mean-variance tradeoff, substantial risk and a …
Persistent link: https://www.econbiz.de/10009576212