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Monopoly
Kempe, Wolfram - 1996
This is the first chapter of a graduate text entitled Topics in Microeconomics. It covers the basics of monopoly theory … time consistency problem ("durable goods monopoly"), and how the basic theory of third-degree price discrimination needs to … be modified accordingly. The Chapter closes with the noncooperative bargaining theory of bilateral monopoly and suggests …
Persistent link: https://www.econbiz.de/10009631756
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On the regulation of social norms
Kübler, Dorothea - 2000
inappropriate or that following a certain new norm is appropriate. Both forms of norm regulation are incorporated into Akerlof … different types of norms. -- social norms ; regulation ; conformity …
Persistent link: https://www.econbiz.de/10009583884
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Implementing efficient market structure
Grimm, Veronika; Riedel, Frank; Wolfstetter, Elmar - 2000
This article studies the design of optimal mechanisms to regulate entry in natural oligopoly markets, assuming the regulator is unable to control the behavior of firms once they are in the market. We adapt the Clarke-Groves mechanism, characterize the optimal mechanism that maximizes the...
Persistent link: https://www.econbiz.de/10009583432
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Quantile-VaR is the wrong measure to quantify market risk for regulatory purposes
Jaschke, Stefan R. - 2001
normative point of view, as significant public resources are used for banking supervision. -- VaR ; banking regulation …
Persistent link: https://www.econbiz.de/10009614286
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The Cornish-Fisher-Expansion in the context of Delta - Gamma - Normal approximations
Jaschke, Stefan R. - 2001
Qualitative and quantitative properties of the Cornish-Fisher-Expansion in the context of Delta-Gamma-Normal approaches to the computation of Value at Risk are presented. Some qualitative deficiencies of the Cornish-Fisher-Expansion - the monotonicity of the distribution function as well as...
Persistent link: https://www.econbiz.de/10009614287
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The great demand depression
Weder, Mark - 2001
This paper entertains the notion that disturbances on the demand side play a central role in our understanding of the Great Depression. In fact, from Euler equation residuals we are able to identify a series of unusually large negative demand shocks that appeared to have hit the U. S. economy...
Persistent link: https://www.econbiz.de/10009614288
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Semiparametric estimation in single index poisson regression : a practical approach
Climov, Daniela; Delecroix, Michel; Simar, Léopold - 2001
In a single index Poisson regression model with unknown link function, the index parameter can be root-n consistently estimated by the method of pseudo maximumum likelihood. In this paper, we study, by simulation arguments, the practical validity of the asymptotic behavior of the pseudo maximum...
Persistent link: https://www.econbiz.de/10009614290
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Fractional integration and business cycle features
Candelon, Bertrand; Gil-Alaña, Luis A. - 2001
We show in this article that fractionally integrated univariate models for GDP may lead to a better replication of business cycle characteristics. We firstly show that the business cycle features are clearly affected by the degree of integration as well as by the other short run components of...
Persistent link: https://www.econbiz.de/10009614295
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Experimental "beauty contests" with homogeneous and heterogeneous players and with interior and boundary equilibria
Güth, Werner; Kocher, Martin; Sutter, Matthias - 2001
We study behavior in experimental beauty contests with, first, boundary and interior equilibria, and, second, homogeneous and heterogenous types of players. We find quicker and better convergence to the game-theoretic equilibrium with interior equilibria and homogeneous players. -- beauty...
Persistent link: https://www.econbiz.de/10009614296
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Simultaneous over- and underconfidence : evidence from experimental asset markets
Maciejovsky, Boris; Kirchler, Erich - 2001
In this paper individual overconfidence within the context of an experimental asset market is investigated. Overall, 72 participants traded one risky asset on six markets of 12 participants each. The results indicate that individuals were not generally overconfident. Moreover, overconfidence was...
Persistent link: https://www.econbiz.de/10009614297