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Stochastic Dominance: Convexity and Some Efficiency Tests

Lizyayev, Andrey M. - Tinbergen Institute - 2009

This paper points out the importance of Stochastic Dominance (SD) efficient sets being convex. We review

Persistent link: https://www.econbiz.de/10008513225

The Average Tree Solution for Cooperative Games with Communication Structure

Herings, P. Jean-Jacques; Laan, Gerard van der; Talman, Dolf - Tinbergen Institute - 2008

-free communication structure, it is the solution proposed by Herings, van der Laan and Talman (2008). We introduce the notion of link-convexity …, under which the game is shown to have a non-empty core and the average tree solution lies in the core. In general, link-convexity … is weaker than convexity. For games with a cycle-free communication structure, link-convexity is even weaker than super-additivity. …

Persistent link: https://www.econbiz.de/10005137089

On the Extent of Economic Integration: A Comparison of EU Countries and US States

Bowen, Harry P.; Munandar, Haris; Viaene, Jean-Marie - Tinbergen Institute - 2010

This discussion paper led to a forthcoming publication in </I>Journal of Regional Science</I> entitled 'Are EU Countries less Integrated than US States? Theory and Evidence'.<P> European economic integration is commonly believed to be incomplete, and that further reforms are needed. In this context, the...</p>

Persistent link: https://www.econbiz.de/10008513211

Spurious Regression, Cointegration, and Near Cointegration: A Unifying Approach

Haldrup, Niels; Jansson, Michael - Tinbergen Institute - 1999

This paper introduces a representation of an integrated vector time series in which the coefficient of multiple correlation computed from the long-run covariance matrix of the innovation sequences is a primitive parameter of the model. Based on this representation, a notion of near cointegration...

Persistent link: https://www.econbiz.de/10005137044