Showing 1 - 10 of 2,360
We integrate a market microstructure model with an exchange competition model with entry in which exchanges supply technological services that enhance market participation, and have market power. We find that technological services can be strategic substitutes or complements in platform...
Persistent link: https://www.econbiz.de/10012892152
In statistics, samples are drawn from a population in a data-generating process (DGP). Standard errors measure the uncertainty in sample estimates of population parameters. In science, evidence is generated to test hypotheses in an evidence-generating process (EGP). We claim that EGP variation...
Persistent link: https://www.econbiz.de/10013312068
We investigate the dynamics of prices, information and expectations in a competitive, noisy, dynamic asset pricing equilibrium model. We show that prices are farther away from (closer to) fundamentals compared with average expectations if and only if traders over- (under-) rely on public...
Persistent link: https://www.econbiz.de/10010272747
We propose a theory that jointly accounts for an asset illiquidity and for the asset price potential over-reliance on …
Persistent link: https://www.econbiz.de/10010274821
The adaptive learning approach has been fruitfully employed to model the formation of aggregate expectations at the macroeconomic level, as an alternative to rational expectations. This paper uses adaptive learning to understand, instead, the formation of expectations at the micro-level, by...
Persistent link: https://www.econbiz.de/10012831652
Differences in annual publication counts may reflect the dynamic of scientific progress. Declining annual numbers of publications may be interpreted as missing progress in field-specific knowledge. In this paper, we present empirical results on dynamics of progress in economic fields (defined by...
Persistent link: https://www.econbiz.de/10014469872
We apply the test of Ijiri and Simon (1974) to a large data set of authors in economics. This test has been used by Tol (2009, 2013a) to identify a (within-author) Matthew effect for authors based on citations. We show that the test is quite sensitive to its underlying assumptions and identifies...
Persistent link: https://www.econbiz.de/10010420737
It is well-known that the distribution of citations to articles in a journal is skewed. We ask whether journal rankings based on the impact factor are robust with respect to this fact. We exclude the most cited paper, the top 5 and 10 cited papers for 100 economics journals and recalculate the...
Persistent link: https://www.econbiz.de/10010435783
This articles investigates the recent trends in co-authorship in economics. Using data from more than 700.000 journal articles we show that the average number of authors per article has increased over the last years. This process is likely to be continued in the future. In a regression analysis...
Persistent link: https://www.econbiz.de/10011388169
We construct a meta–ranking of 315 economics journals based on 38 different individual rankings. Our ranking incorporates both bibliometric measures from three different databases (Web of Knowledge, RePEc and Google Scholar) and previous rankings in the literature. Furthermore, we account for...
Persistent link: https://www.econbiz.de/10011431259