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Using Wasserstein Generative Adversarial Networks for the Design of Monte Carlo Simulations
Athey, Susan - 2019
their analytic approach to a given setting, and (ii) systematic simulation studies can be helpful for selecting among …
Persistent link: https://www.econbiz.de/10012480510
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One-node Quadrature Beats Monte Carlo : A Generalized Stochastic Simulation Algorithm
Judd, Kenneth - 2011
In conventional stochastic simulation algorithms, Monte Carlo integration and curve fitting are merged together and … stochastic simulation approach in which integration and curve fitting are separated. We specifically allow for the use of … achieve accuracy of solutions that is orders of magnitude higher than that of the conventional stochastic simulation …
Persistent link: https://www.econbiz.de/10012461949
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Stochastic Problems in the Simulation of Labor Supply
Hausman, Jerry A. - 1981
accurate and low cost computational techniques which would permit extensive use of simulation methodology. Large samples are … simulation results. This paper investigates the tradeoffs available between computational accuracy and cost in simulation …
Persistent link: https://www.econbiz.de/10012478325
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A Simple but Powerful Simulated Certainty Equivalent Approximation Method for Dynamic Stochastic Problems
Cai, Yongyang; Judd, Kenneth L. - National Bureau of Economic Research - 2021
We introduce a novel simulated certainty equivalent approximation (SCEQ) method for solving dynamic stochastic problems. Our examples show that this method only requires a desktop computer to solve high-dimensional finite- or infinite-horizon, stationary or nonstationary dynamic stochastic...
Persistent link: https://www.econbiz.de/10012482717
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Riding the Bubble? Chasing Returns into Illiquid Assets
Yagan, Danny - 2014
Household investors chase stock market returns. Surveys suggest that households intend to "ride the bubble" by buying stocks early in a boom and selling stocks early in a bust. This implies that households use only liquid assets to chase returns. I test this prediction using inflows to fixed...
Persistent link: https://www.econbiz.de/10012458307
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Reference-Dependent Preferences : Evidence from Marathon Runners
Allen, Eric J. - 2014
Models of reference-dependent preferences propose that individuals evaluate outcomes as gains or losses relative to a neutral reference point. We test for reference dependence in a large dataset of marathon finishing times (n = 9,524,071). Models of reference-dependent preferences such as...
Persistent link: https://www.econbiz.de/10012458324
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Is the Time Allocated to Review Patent Applications Inducing Examiners to Grant Invalid Patents? : Evidence from Micro-Level Application Data
Frakes, Michael D. - 2014
We explore how examiner behavior is altered by the time allocated for reviewing patent applications. Insufficient examination time may hamper examiner search and rejection efforts, leaving examiners more inclined to grant invalid applications. To test this prediction, we use application-level...
Persistent link: https://www.econbiz.de/10012458330
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Present-Bias, Procrastination and Deadlines in a Field Experiment
Bisin, Alberto - 2014
We study procrastination in the context of a field experiment involving students who must exert costly effort to complete certain tasks by a fixed deadline. Descriptively, we document a strong demand for commitment, in the form of self-imposed deadlines, which appear to be associated with...
Persistent link: https://www.econbiz.de/10012458790
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Prospect Theory and Asset Prices
Barberis, Nicholas - 1999
We propose a new framework for pricing assets, derived in part from the traditional consumption-based approach, but which also incorporates two long-standing ideas in psychology: prospect theory, and evidence on how prior outcomes affect risky choice. Consistent with prospect theory, the...
Persistent link: https://www.econbiz.de/10012471569
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Airline Hubs : Costs, Markups and the Implications of Customer Heterogeneity
Berry, Steven - 1996
This paper estimates a model of airline competition that captures the two major features of the industry: product differentiation and economies of density. The results not only provide support to some of the traditional common wisdom in the industry, but are also useful for understanding major...
Persistent link: https://www.econbiz.de/10012473287