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Hatfield, John William; Kominers, Scott Duke - In: Economics Letters 119 (2013) 3, pp. 354-357

supplier or end consumer has monotonic effects on the welfare of initial suppliers and end consumers but may simultaneously …

Persistent link: https://www.econbiz.de/10010664125

Fictitious play property of the Nash demand game

In, Younghwan - In: Economics Letters 122 (2014) 3, pp. 408-412

We show that the Nash demand game has the fictitious play property. We also show that almost every fictitious play process and its associated belief path converge to a pure-strategy Nash equilibrium in the Nash demand game.

Persistent link: https://www.econbiz.de/10010743686

Asymmetric partnerships

Figueroa, Nicolás; Skreta, Vasiliki - In: Economics Letters 115 (2012) 2, pp. 268-271

We study asymmetric partnerships and show that efficient dissolution is possible if critical types (where participation constraints bind) are equal. Ownership structures guaranteeing equal critical types always exist, but can be extremely unequal.

Persistent link: https://www.econbiz.de/10011041810

Optimal investment policy with fixed adjustment costs and complete irreversibility

Roys, Nicolas - In: Economics Letters 124 (2014) 3, pp. 416-419

We develop and characterize analytically an investment model in discrete time with a fixed adjustment cost not … proportional to existing capital and complete irreversibility that reproduces the lumpiness of investment at the micro-level. In … agreement with the empirical evidence, as a firm size increases, investment becomes less lumpy. The optimal policy is of the …

Persistent link: https://www.econbiz.de/10010930713

Investment, irreversibility, and financing constraints: Evidence from a panel of transition economies

Guariglia, Alessandra; Tsoukalas, John; Tsoukas, Serafeim - In: Economics Letters 117 (2012) 3, pp. 582-584

exhibit high and significant investment-cash flow sensitivities. Our findings provide a new explanation for why some …

Persistent link: https://www.econbiz.de/10010594188

Productivity with general indices of management and technical change

Triebs, T.P.; Kumbhakar, S.C. - In: Economics Letters 120 (2013) 1, pp. 18-22

We propose a model of production where technical change is both time and management induced. We define a general management index in addition to the general time index of Baltagi and Griffin (1988) and use them as arguments in the translog production function. Time and management induced...

Persistent link: https://www.econbiz.de/10010665684

Influence in the Face of Impunity

Kritikos, Alexander S.; Tan, Jonathan H.W. - In: Economics Letters 141 (2016), pp. 119-121

We compare dictator and impunity games. In impunity games, responders can reject offers but to no payoff consequence to proposers. Because proposers act under impunity, we should expect the same behavior across games, but experimentally observed behavior varies. Responders indeed exercise the...

Persistent link: https://www.econbiz.de/10011687301

The stability of many-to-many matching with max–min preferences

Jiao, Zhenhua; Tian, Guoqiang - In: Economics Letters 129 (2015) C, pp. 52-56

This paper investigates the two-sided many-to-many matching problem, where every agent has max–min preference. The equivalence between the pairwise-stability and the setwise-stability is obtained. It is shown that the pairwise-stability implies the strong corewise-stability and the former may...

Persistent link: https://www.econbiz.de/10011263446

Public offers in the market for lemons with large discounting

Kim, Kyungmin - In: Economics Letters 130 (2015) C, pp. 63-65

I show that bargaining impasse in Hörner and Vieille (2009) can be interpreted as the limit of bargaining delay: the maximal duration of the game increases unboundedly as the seller’s discount factor approaches the threshold level above which bargaining impasse occurs.

Persistent link: https://www.econbiz.de/10011263449

On relationships between substitutes conditions

Afacan, Mustafa Oǧuz; Turhan, Bertan - In: Economics Letters 126 (2015) C, pp. 10-12

In the matching with contracts literature, three well-known conditions (from stronger to weaker)–substitutes, unilateral substitutes (US), and bilateral substitutes (BS)–have proven to be critical. This paper aims to deepen our understanding of them by separately axiomatizing the gap between...

Persistent link: https://www.econbiz.de/10011189502