This paper presents a case of parsimony and generalization in model comparisons. We submitted two versions of the same cognitive model to the Market Entry Competition (MEC), which involved four-person and two-alternative (enter or stay out) games. Our model was designed according to the...

This thesis consists of three chapters on economic and econometric applications of Bayesian parameter estimation and model comparison. The first two chapters study the incidental parameter problem mainly under a linear autoregressive (AR) panel data model with fixed effect. The first chapter...

Two of the most discussed issues triggered by the so called Feldstein-Horioka puzzle in international macroeconomics are: What does the saving-investment (SI) relation really measure and how should the SI relation be measured? The first contribution of this study is to develop a new variant of...

Military, diplomatic, and intelligence analysts are increasingly interested in having a valid system of models that span the social sciences and interoperate so that one can determine the effects that may arise from alternative operations (courses of action) in different lands. Part I of this...

Military, diplomatic, and intelligence analysts are increasingly interested in having a valid system of models that span the social sciences and interoperate so that one can determine the effects that may arise from alternative operations (courses of action) in different lands. Part I of this...

In recent years, government aid agencies and international organizations have increased their financial commitments to controlling and eliminating malaria from the planet. This renewed emphasis on elimination is reminiscent of a previous worldwide campaign to eradicate malaria in the 1960s, a...

There is no substitute to the intellectual disposition to innovate. To increase the value of creative thinking, ideas have to be transformed into wealth production through generation, promotion, and distribution of appreciated products and/or services in a timely and competitive way. To achieve...

How do institutional arrangements in banking affect the occurrence of crises?The first two chapters present an endeavor in using new modeling techniques toanswer this question. Even if the results are not widely accepted, the way inwhich the problem is tackled here is offered for consideration...

Based on a classical financial market model different model variants known from the literature are discussed and analyzed, each focussing on modeling financial markets as a nonlinear dynamic system by introducing the formation of (heterogeneous) beliefs about future asset prices into the model...