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Canonical decomposition of linear transformations of two independent Brownian motions
Föllmer, Hans; Wu, Ching-Tang; Yor, Marc - 1998
filtering theory ; enlargement of filtration ; canonical decomposition ; Sturm-Liouville equation ; Volterra kernels …
Persistent link: https://www.econbiz.de/10009578007
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Using private job agencies : optimal screening or cream skimming?
Kübler, Dorothea - 1997
In a model with private information of the worker about her ability and unobservable effort choice, the role of public and private employment services is analyzed. The coexistence of an inefficient employment exchange and an efficient private agency may lead to optimal screening with first best...
Persistent link: https://www.econbiz.de/10009658470
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Private information, risk aversion, and the evolution of market research
Güth, Sandra; Güth, Werner; Müller, Wieland - 2000
On a homogeneous oligopoly market informed sellers are fully aware of market demand whereas uninformed sellers only know the distribution. We first derive the market results when sellers are risk averse, similarly to Ponssard (1979) who assumed risk neutrality throughout. With the help of these...
Persistent link: https://www.econbiz.de/10009612010
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Presents or investments? : an experimental analysis
Genîzî, Ûrî; Güth, Werner; Verboven, Frank - 1998
.’s investment game by introducing an upper bound to what a contributor can be repaid afterwards. By varying this upper bound …
Persistent link: https://www.econbiz.de/10009578011
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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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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 … predictive content of the yield spread for future output growth. For U.S. data we observe good leading indicator properties at …
Persistent link: https://www.econbiz.de/10009617950
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Multiple politico-economic regimes, inequality and growth
Desdoigts, Alain; Moizeau, Fabien - 2001
) income distribution dynamics, intergenerational community formation and growth. In a world in which redistributive policies … long run. -- growth ; Community formation ; human capital ; redistribution ; social mobility …
Persistent link: https://www.econbiz.de/10009615432
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Neoclassical convergence versus technological catch-up : a contribution for reaching a consensus
Desdoigts, Alain - 2000
growthmodels: (i) the standard neoclassical growth model similar to that employed by Mankiw, Romer, and Weil (1992), (ii) an … evidence suggests that the high social returns to investment in equipment (as opposed to structure) reflect technology transfer … contributes to the polarization of the world income distribution. -- economic growth ; neoclassical convergence ; technological …
Persistent link: https://www.econbiz.de/10009583880
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Co-evolution of preferences and information in simple games of trust
Güth, Werner; Kliemt, Hartmut; Peleg, Bezalel - 1998
In standard rational choice modelling decisions are made according to given information and preferences. In the model presented here the 'information technology' of individual decision makers as well as their preferences evolve in a dynamic process. In this process decisions are made rationally...
Persistent link: https://www.econbiz.de/10009578580
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Predictive accuracy of political stock markets : empirical evidence from a European perspective
Berlemann, Michael; Schmidt, Carsten - 2001
In a meta study of 25 political stock markets conducted in Germany in the last decade we analyze their predictive success. Although the predictions of political stock markets are highly correlated with the corresponding polls, the markets are able to aggregate additional information. One...
Persistent link: https://www.econbiz.de/10009614879