Showing 1 - 10 of 65
The purpose of this paper is to reexamine the seminal belief elicitation experiment by Nyarko and Schotter (2002) under the prism of pattern recognition. Instead of modeling elicited beliefs by a standard weighted fictitious play model this paper proposes a generalized variant of fictitious...
Persistent link: https://www.econbiz.de/10005011947
I study the institution of avoiding to hire one’s school own PhD graduates for assistant professorships. I argue that this institution is necessary to create better incentives for researchers to incorporate new information in studies, facilitating the convergence to asymptotic learning of the...
Persistent link: https://www.econbiz.de/10009360271
Website constructions in the world have progressed at a fast pace. However, compared to the pace of development, the issue of benchmarking of the contents of official websites has not yet received adequate attention. The paper argues that with the proliferation of official websites worldwide,...
Persistent link: https://www.econbiz.de/10008742982
This paper aims at presenting a new voting function which is obtained in Balinski-Laraki's framework and benefits mean and median advantages. The so-called Mean-Median Comprise Method (MMCM) has fulfilled criteria such as unanimity, neutrality, anonymity, monotonicity, and Arrow's independence...
Persistent link: https://www.econbiz.de/10011274903
Aspekte der Aggregation bzw. Mikrofundierung, der Wohlfahrtsanalyse, der Rigorosität der Modellierung und der Lucas …
Persistent link: https://www.econbiz.de/10008739741
This paper compares the different dynamics of simple sum monetary aggregates and the Divisia indexes over time, over the business cycle, and across high and low inflation and interest rate phases. Although the traditional comparison of the series may suggest that they share similar dynamics,...
Persistent link: https://www.econbiz.de/10005836240
This paper compares the different dynamics of the simple sum monetary aggregates and the Divisia monetary aggregate indexes over time, over the business cycle, and across high and low inflation and interest rate phases. Although traditional comparisons of the series sometimes suggest that simple...
Persistent link: https://www.econbiz.de/10005836526
misunderstanding after another. The bad data produced by simple sum aggregation have contaminated research in monetary economics, have … aggregation theory, now exist, the usual official central bank data are not based on that better approach. While aggregation … throughout the world, the only central banks that currently make aggregation-theoretic monetary aggregates available to the …
Persistent link: https://www.econbiz.de/10005836728
People tend, in many ways, to behave like the others they see around them. This note´shows that such reference group behavior tends to reinforce incentives (economic or other) that influence individuals directly only marginally. The workings or such incentives is augmented what might be called...
Persistent link: https://www.econbiz.de/10008515846
Marshall's notion of the representative firm can be read as a macro notion with some resemblance to Keynes' aggregative concepts. Keynes' notions of aggregate demand and aggregate supply are fashioned after Marshall's definitions of demand and supply. Keynes starts with the Marshallian...
Persistent link: https://www.econbiz.de/10008515855