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Structured additive regression (STAR) models provide a flexible framework for modeling possible nonlinear effects of covariates: They contain the well established frameworks of generalized linear models (GLM) and generalized additive models (GAM) as special cases but also allow a wider class of...
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to adjust aspiration levels if they cannot be satisfied. -- satisficing behavior ; duopoly ; profit aspiration ; theory …
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We propose a learning dynamic with agents using samples of past play to estimate the distribution of other players' strategy choices and best responding to this estimate. To account for noisy play, estimated distributions over other players' strategy choices have full support in the other...
Persistent link: https://www.econbiz.de/10011396934
This paper explores the global economic and climate spillovers of the European Union Emissions Trading System (EU ETS), leveraging exogenous variations in carbon prices identified through a carbon policy surprise series. Findings reveal that higher EU carbon prices lead to significant and...
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We estimate the impact of climate change on agricultural production in a panel of 127 countries from 1961 to 2002. In contrast to the existing literature we account for cross-sectional dependence and technology heterogeneity. We find no significant impact of climate change on agricultural...
Persistent link: https://www.econbiz.de/10010354719