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developed in the literature.Next, we go beyond testing by defining and estimating the minimal deviations from rational …
Persistent link: https://www.econbiz.de/10012906482
Standard income inequality indices can be interpreted as a measure of welfare loss entailed in departures from equality of outcomes, for egalitarian social welfare functions defined on the distribution of outcomes. But such a welfare interpretation has been criticized for a long time on the...
Persistent link: https://www.econbiz.de/10012957494
This paper is concerned with testing the time series implications of the capital asset pricing model (CAPM) due to …
Persistent link: https://www.econbiz.de/10013107698
We propose a specification test for a wide range of parametric models for the conditional distribution function of an outcome variable given a vector of covariates. The test is based on the Cramer-von Mises distance between an unrestricted estimate of the joint distribution function of the data,...
Persistent link: https://www.econbiz.de/10013110184
In this paper we discuss tests for residual cross section dependence in nonlinear panel data models. The tests are based on average pair-wise residual correlation coefficients. In nonlinear models, the definition of the residual is ambiguous and we consider two approaches: deviations of the...
Persistent link: https://www.econbiz.de/10014051110
This paper considers testing the hypothesis that errors in a panel data model are weakly cross sectionally dependent …
Persistent link: https://www.econbiz.de/10013108232
Asymptotic and bootstrap tests are studied for testing whether there is a relation of stochastic dominance between two … useful form of dominance relation that we can seek to infer in many settings. One testing procedure that we consider is based …
Persistent link: https://www.econbiz.de/10014059083
choices with data on the information acquisition process they follow. Subjects play a repeated Cournot oligopoly, with limited …
Persistent link: https://www.econbiz.de/10013088340
We study experimentally the effect of bargaining power in two sequential mechanisms that offer the possibility to trade at a fixed price before an auction. In the "Buy-It-Now" format, the seller has the bargaining power and offers a price prior to the auction; whereas in the "Sell-It-Now"...
Persistent link: https://www.econbiz.de/10013009500
In this paper we perform inference on the effect of a treatment on survival times in studies where the treatment assignment is not randomized and the assignment time is not known in advance. Two such studies are discussed: a heart transplant program and a study of Swedish unemployed eligible for...
Persistent link: https://www.econbiz.de/10012765090