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Abbring, Jaap H. - Tinbergen Instituut

We study a mixed hitting-time (MHT) model that specifies durations as the first time a Lévy process— a continuous-time process with stationary and independent increments— crosses a heterogeneous threshold. Such models are of substantial interest because they can be reduced from...

Persistent link: https://www.econbiz.de/10011255698

Early Retirement Behaviour in the Netherlands: Evidence from a Policy Reform

Euwals, Rob; Vuuren, Daniel J. van; Wolthoff, Ronald P. - Tinbergen Instituut - 2006

In the early 1990s, the Dutch social partners agreed upon transforming the generous and actuarially unfair PAYG early retirement schemes into less generous and actuarially fair capital funded schemes. The starting dates of the transitional arrangements varied by industry sector. In this study,...

Persistent link: https://www.econbiz.de/10011256007

Asymmetric Information and List Price Reductions in the Housing Market

Wit, Erik R. de; Klaauw, Bas van der - Tinbergen Instituut - 2010

This discussion paper resulted in a publication in the 'Regional Science and Urban Economics', 2013, 43, 507-520.<P> In housing markets with asymmetric information list prices may signal unobserved properties of the house or the seller. Asymmetric information is the starting point of many models...</p>

Persistent link: https://www.econbiz.de/10011256150

The Unobserved Heterogeneity Distribution in Duration Analysis

Abbring, Jaap H.; Berg, Gerard J. van den - Tinbergen Instituut - 2006

In a large class of hazard models with proportional unobserved heterogeneity, the distribution of the heterogeneity among survivors converges to a gamma distribution. This convergence is often rapid. We derive this result as a general result for exponential mixtures and explore its implications...

Persistent link: https://www.econbiz.de/10011257597

Stochastic Orders of Proposing Players in Bargaining

Houba, Harold - Tinbergen Instituut - 2005

The bargaining model with stochastic order of proposing players is properly embedded in continuous time and it is … the Nash bargaining solution of a modified bargaining problem and the Maximum Theorem implies convergence to the Nash … bargaining solution when time between proposals vanishes. The model unifies alternating offers, one-sided offers and random …

Persistent link: https://www.econbiz.de/10011255513

Costless Delay in Negotiations

Herings, P. Jean-Jacques; Houba, Harold - Tinbergen Instituut - 2015

We study strategic negotiation models featuring costless delay, general recognition procedures, endogenous voting orders, and finite sets of alternatives. Two examples show: 1. non-existence of stationary subgame-perfect equilibrium (SSPE). 2. the recursive equations and optimality conditions...

Persistent link: https://www.econbiz.de/10011255692

The Condorcet Paradox Revisited

Herings, P. Jean-Jacques; Houba, Harold - Tinbergen Instituut - 2010

We analyze the simplest Condorcet cycle with three players and three alternatives within a strategic bargaining model …

Persistent link: https://www.econbiz.de/10011255823

Alternating Offers in Economic Environments

Houba, Harold - Tinbergen Instituut

bargaining solution of a modified bargaining problem in the contract space yields the pair of stationary subgame perfect … the Nash bargaining solution is immediate by the Maximum Theorem. Numerical implementation in standard optimization …

Persistent link: https://www.econbiz.de/10011256390

On the Strategic Use of Focal Points in Bargaining Situations

Janssen, Maarten C.W. - Tinbergen Instituut - 2006

This paper argues that the notion of focal points is important in understanding bargaining processes. Recent literature … confines a discussion of the usefulness of the notion to coordination problems and when bargaining experiments result in … equal split division and it re-interprets recent experimental evidence in bargaining games. Experimental economists should …

Persistent link: https://www.econbiz.de/10011256649

Preopening and Equilibrium Selection

Calcagno, Riccardo; Lovo, Stefano - Tinbergen Instituut - 2010

We introduce a form of pre-play communication that we call "preopening". During the preopening, players announce their tentative actions to be played in the underlying game. Announcements are made using a posting system which is subject to stochastic failures. Posted actions are publicly...

Persistent link: https://www.econbiz.de/10011257235