Showing 1 - 10 of 409
This paper studies a game of strategic experimentation in which the players have access to two-armed bandits where the risky arm distributes lumpsum payoffs according to a Poisson process with unknown intensity. Because of free-riding, there is an inefficiently low level of experimentation in...
Persistent link: https://www.econbiz.de/10011410236
Despite decades of global attention, effective climate policy implementation remains challenging, with firms and …
Persistent link: https://www.econbiz.de/10015359048
. Consistent with our model, we find significant willingness to pay for ignorance, which we calibrate against morally neutral …
Persistent link: https://www.econbiz.de/10011987011
develop a choice model of survey response behavior under the assumption that the respondent has imperfect self-knowledge about … her individual characteristics. In panel data, the model predicts that the variance in responses for different … observed response patterns. Second, we develop a consistent and unbiased estimator for self-knowledge based on the model. Third …
Persistent link: https://www.econbiz.de/10012597266
evidence. First, we develop a choice model of survey response behavior under the assumption that responses imperfectly reveal …, we provide experimental and survey evidence concerning the performance of the model and estimator. We experimentally test … the model's key predictions in a context where the researcher knows the true characteristics. The data confirm both the …
Persistent link: https://www.econbiz.de/10015421110
highlighted by Akcigit and Ates (2021) and provide an explanation of their emergence by means of a macroeconomic agent-based model … labor and capital goods to produce consumption goods. A key ingredient of the model is the assumption that the entrepreneurs …
Persistent link: https://www.econbiz.de/10014383652
The paper considers a climate change growth model with three R&D sectors dedicated to energy, backstop and CCS (Carbon … problem and we implement it by computing the vector of optimal tools. Finally, we illustrate the theoretical model using some …
Persistent link: https://www.econbiz.de/10003922939
We analyze the growth and welfare effects of globalization in a dynamic Schumpeterian North-South product-cycle model …
Persistent link: https://www.econbiz.de/10003923503
This paper introduces dynamics in the R&D to innovation and innovation to productivity relationships, which have mostly been estimated on cross-sectional data. It considers four nonlinear dynamic simultaneous equations models that include individual effects and idiosyncratic errors correlated...
Persistent link: https://www.econbiz.de/10009764446
We borrow standard assumptions from the non-renewable-resource-taxation and from the directed-technical-change literatures, to take a full account of the incentives to perform R&D activities in a dirty-resource sector and in a clean-resource-substitute sector. We show that a gradual rise in the...
Persistent link: https://www.econbiz.de/10009769158