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A Dynamic Analysis of Moving Average Rules

Chiarella, Carl; He, Tony; Hommes, Cars H. - Tinbergen Instituut - 2005

The use of various moving average (MA) rules remains popular with financial market practitioners. These rules have recently become the focus of a number empirical studies, but there have been very few studies of financial market models where some agents employ technical trading rules of the type...

Persistent link: https://www.econbiz.de/10011256308

Consistent Estimation of Structural Parameters in Regression Models with Adaptive Learning

Christopeit, Norbert; Massmann, Michael - Tinbergen Instituut - 2010

In this paper we consider regression models with forecast feedback. Agents' expectations are formed via the recursive estimation of the parameters in an auxiliary model. The learning scheme employed by the agents belongs to the class of stochastic approximation algorithms whose gain sequence is...

Persistent link: https://www.econbiz.de/10011256878

Strong Consistency of the Least-Squares Estimator in Simple Regression Models with Stochastic Regressors

Christopeit, Norbert; Massmann, Michael - Tinbergen Instituut - 2012

Strong consistency of least squares estimators of the slope parameter in simple linear regression models is established for predetermined stochastic regressors. The main result covers a class of models which falls outside the applicability of what is presently available in the literature. An...

Persistent link: https://www.econbiz.de/10011256174

A Note on Costly Sequential Search and Oligopoly Pricing

Janssen, Maarten C.W.; Moraga-Gonzalez, Jose Luis; … - Tinbergen Instituut - 2004

We modify the paper of Stahl (1989) [Stahl, D.O., 1989. Oligopolistic pricing with sequential consumer search. American Economic Review 79, 700–12] by relaxing the assumption that consumers obtain the first price quotation for free. When all price quotations are costly to obtain, the unique...

Persistent link: https://www.econbiz.de/10011256195

Risk, Balanced Skills and Entrepreneurship

Hsieh, Chihmao; Parker, Simon C.; Praag, C. Mirjam van - Tinbergen Instituut - 2011

This paper proposes that risk aversion encourages individuals to invest in balancedskill profiles, making them more … the impactsboth of risk aversion and balanced skills on the likelihood individuals chooseentrepreneurship. Data on Dutch … university graduates provides evidence which supportsthis contention. It thereby raises the possibility that even risk …

Persistent link: https://www.econbiz.de/10011255496

Information at a Cost: A Lab Experiment

Robalo, Pedro; Sayag, Rei S. - Tinbergen Instituut - 2012

economic literature. In this paper we explore whether individual decision making under risk is affected by the cost of the …

Persistent link: https://www.econbiz.de/10011256591

On the Composition of Committees

Beniers, Klaas J.; Swank, Otto H. - Tinbergen Instituut - 2003

This discussion paper led to a publication in the 'Journal of Law, Economics & Organization', 2004, 20, 353-378.<P> This paper is concerned with the role of committees in collective decision-makingprocesses in a world where agents must be motivated to collect information. Committees improvethe...</p>

Persistent link: https://www.econbiz.de/10011256626

Risk Aversion and Social Networks

Kovarik, Jaromir; Leij, Marco J. van der - Tinbergen Instituut - 2011

. However, the interplay of such uncertainty and risk attitudes has been neglected in the network formation literature. We … information, and risk aversion. The model predicts that an agent's risk aversion is correlated with her network clustering …

Persistent link: https://www.econbiz.de/10011256629

Biodiversity Prospecting over Time and under Uncertainty: A Theory of Sorts

Batabyal, Amitrajeet A.; Nijkamp, Peter - Tinbergen Instituut - 2013

Biodiversity prospecting refers to the exploration of the commercial value of genetic and biochemical resources. In this chapter, we study a drug producing pharmaceutical firm (PF) that searches for potentially useful chemicals made by wild organisms in a conservation area. This PF is able to...

Persistent link: https://www.econbiz.de/10011256729

A Simple Model of Self-Assessments

Martinez, Silvia Dominguez; Swank, Otto H. - Tinbergen Instituut - 2006

We develop a simple model that describes individuals’ self-assessments oftheir abilities. We assume that individuals learn about their abilities from appraisalsof others and experience. Our model predicts that if communicationis imperfect, then (i) appraisals of others tend to be too positive,...

Persistent link: https://www.econbiz.de/10011257106