This paper examines the robustness of alliance formation in a three-player, two-stage game in which each of two players compete against a third player in disjoint sets of contests. Although the players with the common opponent share no common interests, we find that under the lottery contest...

We examine a three-player, three-stage game of alliance formation followed by multi-battle conflict. There are two disjoint sets of battlefields, each of which is associated with a player who competes only within that set. The common enemy competes in both sets of battlefields. An...

This paper reports an experiment on two-player sequential bargaining with asymmetric information that features some forces present in multi-round monopoly pricing environments. Buyer-seller pairs play a series of bargaining games that last for either one or two rounds of offers. The treatment...

Tautological structures bring clarity to arguments in macroeconomics: familiar structures relate to the circulation of money, the circular flow of real income, and the balance of international payments. Less familiar is a structure incorporating all aspects of macroeconomic policy interventions....

The detection of explosive behavior in house prices and the implementation of early warning diagnosis tests are of great importance for policy-making. This paper applies the GSADF test developed by Phillips et al. (2012) and Phillips et al. (2013), a novel procedure for testing, detection and...

Much of the recent discussion on the impact of immigrants on the host economies relate to the costs they impose on the host country’s public finances and the labour market rather than their contribution to the growth of incomes, technology and trade. This paper analyses the contribution...

This paper shows that electoral incentives affect the occurrence of trade disputes. Focusing on WTO disputes filed by the United States during the 1995-2012 period, we show that U.S. presidents are more likely to initiate a dispute in the year preceding their re-election date. Moreover, disputes...

We estimate a variety of models to evaluate costs in US higher education institutions. A novel feature of our approach involves the estimation of latent class and random parameter stochastic frontier models of the multiproduct cost function. This allows us fully to accommodate both the...