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The Conception of the Individual in Non-Cooperative Game Theory

Davis, John B. - Tinbergen Institute - 2003

This paper examines the conception of individuals as being of certain types in Harsanyi's transformation of games of incomplete information into games of complete information. It argues that while the conception of the individual in games of complete information offers potential advances over...

Persistent link: https://www.econbiz.de/10005144523

Reducing the Dimensionality of Linear Quadratic Control Problems

Balvers, Ronald J.; Mitchell, Douglas W. - Tinbergen Institute - 2001

In linear-quadratic control (LQC) problems with singular control cost matrix and/or singular transition matrix, we derive a reduction of the dimension of the Riccati matrix, simplifying iteration and solution. Employing a novel transformation, we show that, under a certain rank condition, the...

Persistent link: https://www.econbiz.de/10005136980

When Clusters become Networks

Phlippen, Sandra; Knaap, Bert van der - Tinbergen Institute - 2007

become networks of strategic collaboration and others don’t, we study link formation within European biopharmaceutical …

Persistent link: https://www.econbiz.de/10005137298

Consumers Networks and Search Equilibria

Galeotti, Andrea - Tinbergen Institute - 2004

I examine a search model a la' Burdett and Judd (1983). Consumers are embedded in a consumers network, they may costly … equilibria consumers search less frequently in denser networks. Finally, when search costs are low the expected price and the … social welfare increase as the consumers network becomes denser. These results are reverse when search costs are high. …

Persistent link: https://www.econbiz.de/10005504914

Analyzing a Flat Income Tax in the Netherlands

Jacobs, Bas; Mooij, Ruud A. de; Folmer, Kees - Tinbergen Institute - 2007

A flat tax rate on income has gained popularity in European countries. This paper assesses the attractiveness of such a flat tax in achieving redistributive objectives with the least cost to labour market performance. We do so by using a detailed applied general equilibrium model for the...

Persistent link: https://www.econbiz.de/10005137282

Heterogeneous Agent Models in Economics and Finance

Hommes, Cars H. - Tinbergen Institute - 2005

This paper surveys work on dynamic heterogeneous agent models (HAMs) in economics and finance. Emphasis is given to simple models that, at least to some extent, are tractable by analytic methods in combination with computational tools. Most of these models are behavioral models with boundedly...

Persistent link: https://www.econbiz.de/10005136868

Pluralism in Economics: A Public Good or a Public Bad?

Dalen, Hendrik P. van - Tinbergen Institute - 2003

A pluralist approach to economics is both necessary from an academic as well a policy point of view. From an academic viewpoint pluralism can be understood as the outcome of competition and specialization in the search for new ideas that can deal with imperfections of the real world. From a...

Persistent link: https://www.econbiz.de/10005137398

Heterogeneous Agent Models: Two Simple Case Studies

Hommes, Cars - Tinbergen Institute - 2005

These notes review two simple heterogeneous agent models in economics and finance. The first is a cobweb model with rational versus naive agents introduced in Brock and Hommes (1997). The second is an asset pricing model with fundamentalists versus technical traders introduced in Brock and...

Persistent link: https://www.econbiz.de/10005450745

The Role and Evolution of Central Authorities

Frijters, Paul; Tieman, Alexander F. - Tinbergen Institute - 1999

In this paper we argue that authorities aid cooperation by means of direct coordination or the enforcement of re-commitment devices such as contract laws.Credible threats of violence allow this role. In a local interaction model, an authority forms if mutually connected individuals with...

Persistent link: https://www.econbiz.de/10005136860

Measuring Power And Satisfaction in Societies with Opinion Leaders: Dictator and Opinion Leader Properties

Brink, René van den; Rusinowska, Agnieszka; Steffen, Frank - Tinbergen Institute - 2009

A well known and established model in communication policy in sociology and marketing is that of opinion leadership. Opinion leaders are actors in a society who are able to affect the behavior of other members called followers. Hence, opinion leaders might have a considerable impact on the...

Persistent link: https://www.econbiz.de/10005036248

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