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Perfection and Stability of Stationary Points with Applications to Noncooperative Games
van der Laan, Gerard; Talman, Dolf; Yang, Zaifu - 2002
It is well known that an upper semi-continuous compact- and convex-valued mapping fi from a nonempty compact and convex set X to the Euclidean space of which X is a subset has at least one stationary point, being a point in X at which the image fi(x) has a nonempty intersection with the normal...
Persistent link: https://www.econbiz.de/10010324999
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Behavioral Learning Equilibria
Hommes, Cars; Zhu, Mei - 2013
We propose behavioral learning equilibria as a plausible explanation of coordination of individual expectations and aggregate phenomena such as excess volatility in stock prices and high persistence in inflation. Boundedly rational agents use a simple univariate linear forecasting rule and...
Persistent link: https://www.econbiz.de/10010326517
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Unemployment, Growth and the Organisation of Work
de Groot, Henri L.F.; van Schaik, Anton B.T.M. - 2002
We develop a two-sector endogenous growth model with a dual labour market resulting from the presence of an effort extraction function in one sector. Effort of workers can be influenced by pay and monitoring. This results in an endogenous non-competitive wage differential between sectors and a...
Persistent link: https://www.econbiz.de/10010324907
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Time-Varying Degree of Wage Indexation and the New Keynesian Wage Phillips Curve
Attey, Jonathan A. - 2016
Cost-of-Living-Adjustment (COLA) coverage figures suggest a time variation in the degree of wage indexation. In spite of this observation, most current literature conveniently assume a constant degree of indexation as this variable is not directly observable. This study intends to empirically...
Persistent link: https://www.econbiz.de/10011586717
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An empirical assessment of the U.S. Phillips curve over time
Vlekke, Marente; Koopman, Siem Jan; Mellens, Martin C. - 2021
We assess the stability of the unemployment gap parameter using linear dynamic Phillips curve models for the United …
Persistent link: https://www.econbiz.de/10012797257
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Wages and employment in the Netherlands, 2017-2023
Klinker, Iris; ter Weel, Bas - 2024
This research documents changes in employment and wages in the Netherlands for different types of workers. We compare 2017 to 2023 using regression-adjusted wages to make sure changes in composition of the workforce do not influence our estimates. The research period has been characterised by...
Persistent link: https://www.econbiz.de/10014547855
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Independence Axioms for Water Allocation
van den Brink, Rene; Estevez-Fernandez, Arantza; van … - 2011
We consider the problem of sharing water among agents located along a river. Each agent has quasi-linear preferences over river water and money, where the benefit of consuming an amount of water is given by a continuous and concave benefit function. A solution to the problem efficiently...
Persistent link: https://www.econbiz.de/10010326510
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The Stability of Subdivision Operator
Protassov, Vladimir - 2001
stability of shifts ofrefinable function is not necessary for the convergence of thesubdivision process. This also leads to some …
Persistent link: https://www.econbiz.de/10010325019
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A Dynamic Analysis of Moving Average Rules
Chiarella, Carl; He, Tony; Hommes, Cars H. - 2005
with high fitness. We characterize the stability and bifurcation properties of the underlying deterministic model via the …
Persistent link: https://www.econbiz.de/10010325427
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Valuation Monotonicity, Fairness and Stability in Assignment Problems
van den Brink, René; Núñez, Marina; Robles, Francisco - 2018
Shapley value, but is incompatible with stability. A main goal in this paper is to weaken valuation fairness in such a way … that it is compatible with stability. It turns out that requiring equal changes only for buyers and sellers that are … matched to each other before as well as after the change, is compatible with stability. In fact, we show that the only stable …
Persistent link: https://www.econbiz.de/10011932342