This paper develops an algorithm that enables to solve macroeconomic models with Rotemberg pricing and imperfect common … knowledge. Under the concept of imperfect common knowledge, Rotemberg pricing requires the solution algorithm to take prices … algorithm has to search for the policy function of the aggregate price and for the policy function of the firm-specific price …

We run an online experiment to study the origins of algorithm aversion. Participants are either in the role of workers … in the role of a manager or by an algorithm. In a second set of experiments, managers choose whether they want to … delegate their hiring decisions to the algorithm. In the baseline treatments, we observe that workers choose the manager more …

dimensionality.” The paper proposes a straightforward algorithm and assesses its accuracy by considering a multiple-country model … with an explicit solution under symmetric states. Combining with the finite volume method, the algorithm can obtain global …

We propose a simple and powerful numerical algorithm to compute the transition process in continuous-time dynamic … system of functional differential equations of the retarded type. We apply the Waveform Relaxation algorithm, i.e., we …

We describe an algorithm that is able to compute the solution of a singular linear difference system under rational … expectations. The algorithm uses the Generalized Schur Factorization and is illustrated by a simple example. …

sufficient condition for constructing the best response. Our methods do not require specific functional forms. Our theory has …

that allows for heterogeneity between students. Reassuringly, this simulation provides a roughly similar result than the …