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A Complete and Strongly Anonymous Leximin Relation on Infinite Streams

Asheim, Geir B.; Zuber, Stéphane - 2021

Various extensions of the leximin order to the infinite dimensional setting have been suggested. They relax completeness and strong anonymity. Instead, by removing sensitivity to generations at infinite rank this paper defines a complete and strongly anonymous leximin relation on infinite...

Persistent link: https://www.econbiz.de/10013315971

Experienced Inequality and Preferences for Redistribution

Roth, Christopher - 2017

We examine whether individuals' experienced levels of income inequality affect their preferences for redistribution. We use several large nationally representative datasets to show that people who have experienced higher inequality during their lives are less in favor of redistribution, after...

Persistent link: https://www.econbiz.de/10012964374

Robust Mechanism Design and Social Preferences

Bierbrauer, Felix - 2014

We study a classic mechanism design problem: How to organize trade between two privately informed parties. We characterize an optimal mechanism under selfish preferences and present experimental evidence that, under such a mechanism, a non-negligible fraction of individuals deviates from the...

Persistent link: https://www.econbiz.de/10013055380

Risk Aversion and Prudence in Contests

Sahm, Marco - 2017

I examine the impact of risk preferences on efforts and winning probabilities in generalised Tullock contests between two players. The theoretical analysis yields two main results. First, I specify a sufficient condition on the agents' comparative prudence under which a higher common level of...

Persistent link: https://www.econbiz.de/10012956876

Afriat's Theorem for General Budget Sets

Forges, Françoise - 2006

Afriat (1967) showed the equivalence of the strong axiom of revealed preference and the existence of a solution to a set of linear inequalities. From this solution he constructed a utility function rationalizing the choices of a competitive consumer. We extend Afriat's theorem to a class of...

Persistent link: https://www.econbiz.de/10012780251

Revealed Preferences in a Sequential Prisoners' Dilemma : A Horse-Race between Six Utility Functions

Miettinen, Topi - 2020

We experimentally investigate behavior and beliefs in a sequential prisoner's dilemma. Each subject had to choose an action as first mover and a conditional action as second mover. All subjects also had to state their beliefs about others' second-mover choices. Using these elicited beliefs, we...

Persistent link: https://www.econbiz.de/10012854501

Afriat's Theorem for Indivisible Goods

Forges, Françoise; Iehlé, Vincent - 2021

We identify a natural counterpart of the standard GARP for demand data in which goods are all indivisible. We show that the new axiom (DARP, for “discrete axiom of revealed preference”) is necessary and sufficient for the rationalization of the data by a well-behaved utility function. Our...

Persistent link: https://www.econbiz.de/10013315672

Aggregation in Large Dynamic Panels

Pesaran, M. Hashem - 2015

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which ‘observed' inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

Persistent link: https://www.econbiz.de/10013038262

Forecasting Nonlinear Aggregates and Aggregates with Time-varying Weights

Lütkepohl, Helmut - 2010

Despite the fact that many aggregates are nonlinear functions and the aggregation weights of many macroeconomic …, time-invariant aggregation weights. In this study a framework for nonlinear contemporaneous aggregation with possibly …

Persistent link: https://www.econbiz.de/10013144208

A Mixed Splicing Procedure for Economic Time Series

de la Fuente, Angel - 2010

This note develops a flexible methodology for splicing economic time series that avoids the extreme assumptions implicit in the procedures most commonly used in the literature. It allows the user to split the required correction to the older of the series being linked between its levels and...

Persistent link: https://www.econbiz.de/10013149372