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On the Stability of Intertemporal Equilibria with Rational Expectations

Hens, Thorsten - University of Bonn, Germany - 1994

In this Paper we propose a concept of stability for intertemporal equilibria with rational expectations: current period … prices move proportionally to current period excess demand while future prices are formed according to the perfect foresight … Hicks' and exceptional stability. In an intertemporal variant of Scarf's example on the instability of Walrasian t …

Persistent link: https://www.econbiz.de/10004968170

An analysis of the German university admissions system

Westkamp, Alexander - University of Bonn, Germany

. Complete information equilibrium outcomes are shown to be characterized by a \emph{stability} condition that is adapted to the … notion of \emph{procedural stability}. Two simple assumptions guarantee existence of a student optimal procedurally stable …

Persistent link: https://www.econbiz.de/10010535252

A Characterization of Melioration in Game Theoretic Frameworks

Apesteguia, Jose - University of Bonn, Germany - 2001

all players. Further, the question of stability of such a distribution is studied. …

Persistent link: https://www.econbiz.de/10004989621

Litigation and settlement II: Stability and other criteria

Schweizer, Urs - University of Bonn, Germany - 1986

Persistent link: https://www.econbiz.de/10004993101

Anticipatory learning in two-person games

Selten, Reinhard - University of Bonn, Germany

Persistent link: https://www.econbiz.de/10005028406

Joint measurement of risk aversion, prudence and temperance

Ebert, Sebastian; Wiesen, Daniel - University of Bonn, Germany - 2010

. Women demand higher risk compensations for all orders. The highest compensation is demanded for taking downside risk, not …

Persistent link: https://www.econbiz.de/10008725919

Existence and Uniqueness of Equilibria in the CAPM with a Riskless Asset

Hens, Torsten; Löffler, Andreas - University of Bonn, Germany - 1995

In the standard CAPM with a riskless asset we prove existence of equilibria without assuming concavity of the investor's utility functions. Moreover, we give a uniqueness result using assumptions on the risk aversion of investors.

Persistent link: https://www.econbiz.de/10004968125

Risk Aversion in International Relations Theory

O'Neill, Barry - University of Bonn, Germany - 1998

|When international relations theorists use the concept of risk aversion, they usually cite the economics conception involving concave utility functions. However, concavity is meaningful only when the goal is measurable on an interval scale. International decisions are usually not of this type,...

Persistent link: https://www.econbiz.de/10004968215

Limited Liability and the Trade-off between Risk and Incentives

Kräkel, Matthias - University of Bonn, Germany - 2007

everal empirical findings have challenged the traditional trade-off between risk and incentives. By combining risk aversion and limited liability in a standard principal-agent model the empirical puzzle on the positive relationship between risk and incentives can be explained.

Persistent link: https://www.econbiz.de/10004968389

Individual Behavior of First-Price Sealed-Bid Auctions: The Importance of Information Feedback in Experimental Markets

Neugebauer, Tibor; Selten, Reinhard - University of Bonn, Germany - 2002

This article reports the results of a first-price sealed-bid auction experiment, which has been designed to test the Nash equilibrium predictions of individual bidding behavior. Subjects faced in 100 auctions always the same resale value and competed with computerized bids. Three treatments were...

Persistent link: https://www.econbiz.de/10004968447