We consider two semiparametric models for the weight function in a biased sample model. The object of our interest parametrizes the weight function, and it is either Euclidean or non Euclidean. One of the models discussed in this paper is motivated by the estimation the mixing distribution of...

State price density (SPD) contains important information concerning market expectations. In existing literature, a constrained estimator of the SPD is found by nonlinear least squares in a suitable Sobolev space...

In this paper we estimate and empirically test different behavioral theories of consumer reference price formation. Two major theories are proposed to model the reference price reaction: assimilation contrast theory and prospect theory. We assume that different consumer segments will use...

This paper presents a survey on panel data methods in which I emphasize new developments. In particular, linear multilevel models with a new variant are discussed. Furthermore, non linar, nonparametric and semiparametric models are analyzed. In contrast to linear models there do not exist...

The famous game of two cars is a pursuit-evasion dynamic game. In theextended version presented here, a correct driver (evader) on a freeway detectsa wrong-way driver (pursuer in a worst case scenario), i.e., a car driving on thewrong lanes of the road or in the wrong direction. The correct...

In der Literatur zur Abschlußprüfung ist ein negativer Effekt eines ökonomischen Vorteils aus der wiederholten Mandatsannahme, der aufgrund von Transaktionskosten entsteht, auf die Unabhängigkeit des Abschlußprüfers diskutiert worden. Anders als die bisher vorgestellten Ansätze wird im...

We develop a dynamic duopoly model of R&D competition to improve the quality of a finalgood. The innovation process is sequential and cumulative, and takes place alongside productionin an infinite-horizon setting. In this context we study the R&D incentive impacts resultingfrom a “research...

Faced with real and nominal shocks, what should a benevolent central bankdo, …x the money growth rate or target the inflation rate? In this paper, wemake a …rst attempt at studying the optimal choice of monetary policy in-struments in a micro-founded model of money. Speci…cally, we produce...

Successful IT outsourcing is usually for the benefit of both parties: theoutsourcing client and the service provider. With a fixed price contract, the clienttries to lower project risks and costs by transferring parts of a project to theservice provider at a previously negotiated price. In this...

Our purpose is to show how large difference of beliefs induced by fear of crashesis amenable to large and persistent price responses to contemporaneous shocks. Weconstruct a pure exchange economy populated by two agents who estimate strictlydifferent models regarding the fundamental. In...