Narrow search
Showing 1 - 10 of 403
Cover Image
SMALL WORLD NETWORKS WITH SEGREGATIONPATTERNS AND BROKERS
Gallo, Edoardo - University <Oxford> / Department of Economics - 2010
small worldnetwork. This paper develops a strategic network formation model where agents haveheterogeneous knowledge of the … network: cognizant agents know the whole network,while ignorant ones are less knowledgeable. For a broad range of parameters … higher betweenness centrality: they are the brokerswho connect di®erent parts of the network. Ignorant agents cause the …
Persistent link: https://www.econbiz.de/10005870099
Cover Image
JBendge: An Object-Oriented System for Solving, Estimating and Selecting Nonlinear Dynamic Models
Winschel, Viktor; Krätzig, Markus - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2008
We present an object-oriented software framework allowing to specify, solve, and estimate nonlinear dynamic general equilibrium (DSGE) models. The implemented solution methods for finding the unknown policy function are the standard linearization around the deterministic steady state, and a...
Persistent link: https://www.econbiz.de/10005860533
Cover Image
Solving, Estimating and Selecting Nonlinear Dynamic Models without the Curse of Dimensionality
Winschel, Viktor; Krätzig, Markus - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2008
We present a comprehensive framework for Bayesian estimation of structural nonlinear dynamic economic models on sparse grids. The Smolyak operator underlying the sparse grids approach frees global approximation from the curse of dimensionality and we apply it to a Chebyshev approximation of the...
Persistent link: https://www.econbiz.de/10005860578
Cover Image
Bayesian option pricing using mixed normalheteroskedasticity models
Rombouts, Jeroen; Stentoft, Lars - Center for Operations Research and Econometrics … - 2009
While stochastic volatility models improve on the option pricing error when compared to theBlack-Scholes-Merton model, mispricings remain. This paper uses mixed normalheteroskedasticity models to price options. Our model allows for significant negative skewnessand time varying higher order...
Persistent link: https://www.econbiz.de/10005868652
Cover Image
Simultaneous Search and Network Efficiency
Gautier, Pieter A.; Holzner, Christian - Institut zur Zukunft der Arbeit <Bonn> - 2011
When workers send applications to vacancies they create a network. Frictions arise becauseworkers typically do not know … affects network formation, whilethe second coordination friction affects network clearing. We show that those frictions and … arise and the number of matches on a given network.Equilibria that exhibit wage dispersion are inefficient in terms of …
Persistent link: https://www.econbiz.de/10009347589
Cover Image
Cooperative Networks: Theory and Experimental Evidence
Pantz, Katinka; Ziegelmeyer, Anthony - Max-Planck-Institut für Ökonomik <Jena> - Abteilung …
We consider a modi¯ed pure public good game characterized by a pre-play negotiation stage, onwhich pairs of players can form binding cooperation commitments. As the introduced mecha-nism only supports pairwise rather than more inclusive commitments, it does not implement thee±cient outcome. We...
Persistent link: https://www.econbiz.de/10005866705
Cover Image
Learning Foundation for the Cursed Equilibrium
Miettinen, Topi - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008
Recent literature has questioned the existence of a learning foundationfor the partially cursed equilibrium. This paper closes the gap by showingthat a partially cursed equilibrium corresponds to a particular analogy-based expectation equilibrium.
Persistent link: https://www.econbiz.de/10005866430
Cover Image
On the Absorbability of the Guessing Game Theory -A Theoretical and Experimental Analysis
Morone, Andrea; Sandri, Serena; Uske, Tobias - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
Theory absorption, a notion introduced by Morgenstern and Schwödiauer (1972)and further elaborated by Güth and Kliemt (2004), discusses the problem whether atheory can survive its own acceptance. Whereas this holds for strategic equilibria accordingto the assumptions on which they are based,...
Persistent link: https://www.econbiz.de/10005866646
Cover Image
Out of Sight: Problem Sequences and Epistemic Boundaries of Medical Know-How on Glaucoma
Consoli, Davide; Ramlogan, Ronnie - Manchester Business School - 2008
characterized 150 years of medical research in ophthalmology. This is complemented in the second part by a network analysis of …
Persistent link: https://www.econbiz.de/10005870378
Cover Image
Are Momentum Traders Different?Implications for the Momentum Puzzle
Menkhoff, Lukas - Universität <Hannover> / Wirtschaftswissenschaftliche … - 2010
This paper examines the puzzlingly high unexploited momentum returns from a new perspective.We analyze characteristics of momentum traders in a sample of 692 fund managers. Wefind that momentum traders are “defined” by their short-term horizon, by a behavioural viewon the market and by a...
Persistent link: https://www.econbiz.de/10009302618