This article studies growth and income inequality with a model that makes transparent the role of initial resource endowments, the savings rate and financing opportunities. The frame of presentation is the so-called Kuznets curve. We show under what circumstances the inverted U-shaped curve...

We study how subjects extrapolate simple patterns in financial time series in order to develop a descriptive model of actual agent behavior. The laboratory experiment for this analysis was conducted in both Germany and Japan. Statistical analyses indicate considerable similarity in expectations...

Purpose ndash; This paper analyzes forecasting problems from the perspective of information extraction. We study circumstances under which the forecast of an economic variable from one domain (country, industry, market segment) should rely on information regarding the same type of variable from...

William Stanley Jevons suggested that monetary exchange is socially superior to barter exchange because agents' optimization is simplified by the use of money. We experimentally study how subjects perform under monetary and barter exchange and find that a majority of subjects achieve a higher...

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