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Coordination of Expectations in Asset Pricing Experiments

Hommes, Cars; Sonnemans, Joep; Tuinstra, Jan; Velden, … - Tinbergen Institute - 2003

expectations. Each market is populated by six subjects and a small fraction of fun- damentalist traders. Realized prices differ …

Persistent link: https://www.econbiz.de/10005137028

On Expectations, Realizations and Partial Retirement

Mastrogiacomo, Mauro - Tinbergen Institute - 2004

whether the related expectations and realizations match each other. We use the Dutch Social Economic Panel survey data, where … expectations about the next year's financial situation are reported. We show that realized changes exceed expectations, and that … conditional distribution of expectations and realizations, suggest that individuals around retirement are overly pes- simistic and …

Persistent link: https://www.econbiz.de/10005137265

Learning in Cobweb Experiments

Hommes, C.H.; Sonnemans, J.H.; Tuinstra, J.; Velde, H. … - Tinbergen Institute - 2003

from individual expectations. Subjects have no information about underlying market equilibrium equations, but can learn by … stable treatment, rational expectations (RE) yield a good description of observed aggregate price fluctuations: prices remain …

Persistent link: https://www.econbiz.de/10005137330

Explicit and Latent Authority in Hierarchical Organizations

Brink, René van den; Gilles, Robert P. - Tinbergen Institute - 2003

In this paper we consider the problem of the control of access to a firm's productive asset, embedding the relevant decision makers into a general structure of formal authority relations. Within such an authority structure, each decision maker acts as a principal to some decision makers, while...

Persistent link: https://www.econbiz.de/10005144514

Positional Power in Hierarchies

Brink, René van den; Steffen, Frank - Tinbergen Institute - 2007

Power is a core concept in the analysis and design of organisations. In this paper we consider positional power in hierarchies. One of the problems with the extant literature on positional power in hierarchies is that it is mainly restricted to the analysis of power in terms of the bare...

Persistent link: https://www.econbiz.de/10005137145

Axiomatizations of a Positional Power Score and Measure for Hierarchies

Brink, René van den; Steffen, Frank - Tinbergen Institute - 2008

Power is a core concept in the analysis and design of organizations. One of the problems with the extant literature on positional power in hierarchies is that it is mainly restricted to the analysis of power in terms of the bare positions of the actors. While such an analysis informs us about...

Persistent link: https://www.econbiz.de/10005450751

Network Formation with Heterogeneous Players

Galeotti, Andrea; Goyal, Sanjeev - Tinbergen Institute - 2002

This paper studies network formation in settings where players are heterogeneous with respect to benefits as well as the costs of forming links. Our results demonstrate that centrality, center-sponsorship and short network diameter are robust features of equilibrium networks. We find that in a...

Persistent link: https://www.econbiz.de/10005450764

Evolutionary Thinking in Environmental Economics

Bergh, Jeroen C.J.M. van den - Tinbergen Institute - 2007

Evolutionary and environmental economics have a potentially close relationship. This paper reviews past and identifies potential applications of evolutionary concepts and methods to environmental economics. This covers a number of themes: resource use and ecosystem management; growth and...

Persistent link: https://www.econbiz.de/10005144510

Optimal Diversity in Investments with Recombinant Innovation

Bergh, Jeroen C.J.M. van den; Zeppini-Rossi, Paolo - Tinbergen Institute - 2008

We address the notion of dynamic, endogenous diversity and its role in theories of investment and technological innovation. We develop a formal model of an innovation arising from the combination of two existing modules with the objective to optimize the net benefits of diversity. The model...

Persistent link: https://www.econbiz.de/10005144531

Basic Exchange Rate Theories

Marrewijk, Charles van - Tinbergen Institute - 2005

expectations. We provide ample anecdotal, historical, and heuristic information on the goodness-of-fit of the various exchange rate …

Persistent link: https://www.econbiz.de/10005144534