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Structural equation models for finite mixtures : simulation results and empirical applications

Temme, Dirk; Williams, John R.; Hildebrandt, Lutz - 2002

Unobserved heterogeneity is a serious but often neglected problem in structural equation modelling (SEM) challenging the validity of many empirical results. Recently, a finite mixture approach to SEM has been proposed to resolve this problem but until now only a few studies analyse the...

Persistent link: https://www.econbiz.de/10009621412

A Monte Carlo study of structural equation models for finite mixtures

Williams, John R.; Temme, Dirk; Hildebrandt, Lutz - 2002

Empirical applications of structural equation modeling (SEM) typically rest on the assumption that the analysed sample is homogenous with respect to the underlying structural model or that homogenous subsamples have been formed based on a priori knowledge. However, researchers often are ignorant...

Persistent link: https://www.econbiz.de/10009624842

Strategic delegation in experimental markets

Huck, Steffen; Müller, Wieland; Normann, Hans-Theo - 2000

, while the second contract gives an additional sales bonus. Although theory predicts the second contract to be chosen, it is …

Persistent link: https://www.econbiz.de/10009583883

I want you! : an experiment studying the selection effect when assigning distributive power

Brandts, Jordi; Güth, Werner; Stiehler, Andreas - 2002

We study whether selection affects motivation. In our experiment subjects first answer a personality questionnaire …

Persistent link: https://www.econbiz.de/10009625802

Efficient contracting and fair play in a simple principal-agent experiment

Anderhub, Vital; Gächter, Simon; Königstein, Manfred - 1999

Modern 'principal-agent theory' has made a lot of progress in proposing theoretical Solutions to agency problems. This … evidence on offered contracts and effort choices in a simple agency game. In line with principal-agent theory we find that in … design has to regard an equity constraint that has so far been neglected by contract theory. In fact, most contract offers …

Persistent link: https://www.econbiz.de/10009581090

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

Trust in the shadow of the courts if judges are no better

Brennan, Geoffrey; Güth, Werner; Kliemt, Hartmut - 1997

theory ; Intrinsic motivation ; Court system ; Legal litigation ; Hobbesian problem of social order … formation the complex interactions between "moral" intrinsic motivation to behave non-opportunistically and extrinsic "formal …

Persistent link: https://www.econbiz.de/10009657895

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 to stay on the safe side by superhedging. But such strategies may require a large amount of initial capital. Here we study the question what an investor can do who is unwilling...

Persistent link: https://www.econbiz.de/10009574876

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

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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