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Equilibrium Tuition, Applications, Admissions and Enrollment in the College Market

Fu, Chao - 2010

I develop and structurally estimate an equilibrium model of the college market. Students, who are heterogeneous in both abilities and preferences, make college application decisions, subject to uncertainty and application costs. Colleges observe only noisy measures of student ability and set up...

Persistent link: https://www.econbiz.de/10009439060

Bargaining for bribes under uncertainty

Serra, Danila - 2008

seller of a corrupt service. Individuals differ in the internalized moral cost generated by corruption, and may have only … information with respect to the "corruptibility" of one's potential partner in corruption plays in his or her propensity to engage … in bribery, and, consequently, the equilibrium level of corruption in a society. We find that corruption is lower when …

Persistent link: https://www.econbiz.de/10009441523

Behavioral Incentives, Equilibrium Endemic Disease, and Health Management Policy for Farmed Animals

Hennessy, David A. - 2005

We develop a dynamic capital valuation model in which each farm can take an action with farm-varying cost to increase the probability of not contracting a disease. In the presence of infection externalities, circumstances are identified under which multiple equilibria exist and where the one...

Persistent link: https://www.econbiz.de/10009443105

Three essays on adaptive learning, institutions and multiple equilibria

Steiger, Laura Christina - 2009

x, 132 p. : ill. A print copy of this thesis is available through the UO Libraries. Search the library catalog for the location and call number.

Persistent link: https://www.econbiz.de/10009447394

How To Avoid Self-fulfilling Crises

Boinet, V - 2002

Obstfeld (1994) shows that a currency crisis can be explained by the occurrence of multiple equi-libria (2 interior equilibria). For the same level of economic fundamentals, it may be optimal forthe government either to devalue or to maintain the peg. The decision depends on the...

Persistent link: https://www.econbiz.de/10009465475

Non-existence of market-clearing wages when the output market is imperfectly competitive

Kaas, Leo; Madden, Paul - 2004

In a sector in which oligopolistic firms face a sector-specific labour supply constraint, there may be no marketclearing wage. Instead, at some wages, there can be two equilibria, one with involuntary unemployment and one with unfilled vacancies.

Persistent link: https://www.econbiz.de/10009471635

Human Capital Externalities with Monopsonistic Competition

Kaas, Leo - 2008

This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model of monopsonistic competition. Multiple equilibria arise because of a strategic complementarity in investment decisions.

Persistent link: https://www.econbiz.de/10009471766

Price Uncertainty and Derivative Securities in a General Equilibrium Model

Chichilnisky, Graciela; Dutta, Jayasri; Heal, Geoffrey - 1992

Consider an exchange economy with multiple competitive equilibria. Agents know the set of equilibria, but not which will be selected. To insure against unfavorable equilibrium outcomes, they trade on markets for commodities contingent on the equilibrium price vector. Such price-contingent...

Persistent link: https://www.econbiz.de/10009472288

CONTRACT VIOLATIONS, NEIGHBORHOOD EFFECTS, AND WAGE ARREARS IN RUSSIA

Earle, John S.; Peter, Klara Sabirianova - 2004

We present a model of neighborhood effects in wage payment delays. Positive feedback arises because each employer’s arrears affect the late payment costs faced by other firms in the same local labor market, resulting in a strategic complementarity in the practice. The model is estimated on...

Persistent link: https://www.econbiz.de/10009476703

Speculative hyperinflations : when can we rule them out?

Arce Hortigüela, Óscar Javier - 2006

Motivated by a strong degree of hysteresis in the stock of monetization observed after the end of hyperinflations, I provide a cash-and-credit model in which the use of money exhibits some persistence because individuals can establish long-lasting credit relationships. This feature helps to...

Persistent link: https://www.econbiz.de/10012530116