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Econometric issues in the analysis of contagion
Pesaran, M. Hashem; Pick, Andreas - 2004
This paper presents a canonical, econometric model of contagion and investigates the conditions under which contagion … the solution is not unique, and for sufficiently large values of the contagion coefficients it has interesting bifurcation … contagion effects in the presence of inter-dependencies the equations for the individual markets or countries must contain …
Persistent link: https://www.econbiz.de/10011402451
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A dynamic model of predation
Rey, Patrick; Spiegel, Yossi; Stahl, Konrad - 2022
We study the feasibility and profitability of predation in a parsimonious infinite-horizon, complete information …, which can be of three types: accommodation, predation with no future entry, and predation with hit-and-run entry. We use the …
Persistent link: https://www.econbiz.de/10013284883
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A dynamic model of predation
Rey, Patrick; Spiegel, Yossi; Stahl, Konrad - 2024
We study the feasibility and profitability of predation in a dynamic environment, using a parsimonious infinite … Markov perfect equilibrium, which can be of three types: accommodation, monopolization, and recurrent predation. We then … analyze and compare the welfare effects of different antitrust policies, accounting for the possibility that recurrent predation …
Persistent link: https://www.econbiz.de/10014556715
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The impact of entrepreneurial risk aversion on wages in general equilibrium
Feng, Ying; Rauch, James E. - 2015
One of the leading theories of entrepreneurship is that less risk averse individuals become entrepreneurs and more risk averse individuals become their employees. Kihlstrom and Laffont (1979) formalized this insight in an elegant and widely taught general equilibrium model. However, their model...
Persistent link: https://www.econbiz.de/10010519937
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Closed-form integrated assessment and uncertainty
Traeger, Christian - 2015
The paper derives the optimal carbon tax in closed-form from an integrated assessment of climate change. The formula shows how carbon, temperature, and economic dynamics quantify the optimal mitigation effort. The model's descriptive power is comparable to numeric models used in policy advising....
Persistent link: https://www.econbiz.de/10011305430
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Measuring time and risk preferences : realiability, stability, domain specificity
Wölbert, Eva; Riedl, Arno - 2013
To accurately predict behavior economists need reliable measures of individual time preferences and attitudes toward risk and typically need to assume stability of these characteristics over time and across decision domains. We test the reliability of two choice tasks for eliciting discount...
Persistent link: https://www.econbiz.de/10009772925
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Export decision under risk
Sousa, José de; Disdier, Anne-Célia; Gaigné, Carl - 2016
Using firm and industry data, we establish two facts: (i) Uncertainty about demand conditions not only reduces export sales and exporting probabilities but also makes exports less sensitive to trade policy; (ii) the most productive exporters are more affected by higher industry-wide expenditure...
Persistent link: https://www.econbiz.de/10011547934
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Risk aversion and the subjective time discount rate : a joint approach
Praag, Bernard M. S. van; Booij, Adam S. - 2003
In this paper we analyze a large sample of individual responses to six lottery questions. We derive a simultaneous estimate of risk aversion and the time preference discount rate per individual. This can be done because the consumption of a large prize is smoothed over a larger time period. It...
Persistent link: https://www.econbiz.de/10011507761
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Does risk aversion accelerate optimal forest rotation under uncertainty?
Alvarez, Luis H. R.; Koskela, Erkki - 2004
We use a Wicksellian single rotation framework to analyze the impact of the intertemporally fluctuating and stochastic mean-reverting interest rate process on the optimal harvesting threshold and thereby the expected length of the rotation period, when forest value is also stochastic following...
Persistent link: https://www.econbiz.de/10011450936
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Pay few subjects but pay them well : cost-effectiveness of random incentive systems
March, Christoph; Ziegelmeyer, Anthony; Greiner, Ben; … - 2016
Most large-scale economic experiments use a between-subjects random incentive system-BRIS-which selects a subset of the participants at random and offers real payment only to the selected participants. We evaluate the relative impact of nominal payoffs and the selection probability on the...
Persistent link: https://www.econbiz.de/10011500169