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Testing for the option value of migration
Locher, Lilo - 2001
Using uncertainty about the future returns to migration, the option value theory of migration can explain low migration … rates in spite of huge wage differences. This paper presents the theory in a simple two-period framework and uses ethnic … as theory predicts. …
Persistent link: https://www.econbiz.de/10011405562
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Uncertainty and the politics of employment protection
Vindigni, Andrea (contributor) - 2008
; political economy ; rents ; volatility ; growth ; institutional divergence …
Persistent link: https://www.econbiz.de/10003719624
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Supply theory sans profit-maximization
Dasgupta, Indraneel - 2009
predictive content of the traditional theory of competitive supply. A number of key results in the deterministic theory follow as … predictive content of the classical theory of competitive firm behavior from its a priori roots in profit maximization, while … subsuming the traditional theory as a special case. -- Supply aggregation ; stochastic supply function ; stochastic consistency …
Persistent link: https://www.econbiz.de/10003810898
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The identification and economic content of ordered choice models with stochastic thresholds
Cunha, Flávio (contributor); Heckman, James J. (contributor) - 2007
This paper extends the widely used ordered choice model by introducing stochastic thresholds and interval-specific outcomes. The model can be interpreted as a generalization of the GAFT (MPH) framework for discrete duration data that jointly models durations and outcomes associated with...
Persistent link: https://www.econbiz.de/10003608454
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Testing for restricted stochastic dominance
Davidson, Russell (contributor);  … - 2006
Asymptotic and bootstrap tests are studied for testing whether there is a relation of stochastic dominance between two distributions. These tests have a null hypothesis of nondominance, with the advantage that, if this null is rejected, then all that is left is dominance. This also leads us to...
Persistent link: https://www.econbiz.de/10003301664
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Dynamic efficiency and pareto optimality in a stochastic OLG model with production and social security
Barbie, Martin; Hagedorn, Marcus; Kaul, Ashok - 2000
We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimality. Our characterization also subsumes equilibria with a PAYG social security system. In a competitive equilibrium...
Persistent link: https://www.econbiz.de/10011339089
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Searching for rehabilitation in nonparametric regression models with exogenous treatment assignment
Henderson, Daniel J.; Maasoumi, Esfandiar - 2012
This paper offers some new directions in the analysis of nonparamertric models with exogenous treatment assignment. The nonparametric approach opens the door to the examination of potentially different distributed outcomes. When combined with cross-validation, it also identifies potentially...
Persistent link: https://www.econbiz.de/10009629111
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Stochastic choice and consideration sets
Manzini, Paola; Mariotti, Marco - 2012
We model a boundedly rational agent who suffers from limited attention. The agent considers each feasible alternative with a given (unobservable) probability, the attention parameter, and then chooses the alternative that maximises a preference relation within the set of considered alternatives....
Persistent link: https://www.econbiz.de/10009629645
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The virtue of being underestimated : a note on discriminatory contracts in hidden information models
Schnedler, Wendelin - 2001
A standard hidden information model is considered to study the influence of the a priori productivity distribution on the optimal contract. A priori more productive (hazard rate dominant) agents work less, enjoy lower rents, but generate a higher expected surplus.
Persistent link: https://www.econbiz.de/10011403219
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Stochastic complementarity
Manzini, Paola; Mariotti, Marco; Ülkü, Levent - 2018
The Hicksian definition of complementarity and substitutability may not apply in contexts in which agents are not utility maximisers or where price or income variations, whether implicit or explicit, are not available. We look for tools to identify complementarity and substitutability satisfying...
Persistent link: https://www.econbiz.de/10011795820