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Classical, Modern, and New Game Theory / Klassische, Moderne und Neue Spieltheorie

Holler, Manfred J. - In: Jahrbücher für Nationalökonomie und Statistik 222 (2002) 5, pp. 556-583

Summary This paper is a brief history of game theory with its main theme being the nature of the decision makers … developments of what many believe to be progress in game theory. The first stage, classical game theory, is defined by John von … Neumann’s and Oskar Morgenstern’s pioneering book “Game Theory and Economic Behavior” which introduced the concept of …

Persistent link: https://www.econbiz.de/10014608902

Blood, Sweat, and Tears: The Rise and Decline of the East German Economy, 1949–1988 / Blut, Schweiß, Tränen: Aufstieg und Niedergang der ostdeutschen Wirtschaft, 1949–1988

Blum, Ulrich; Dudley, Leonard - In: Jahrbücher für Nationalökonomie und Statistik 220 (2000) 4, pp. 438-452

Zusammenbruch in den 70er und 80er Jahren mit Hilfe der neoklassischen Theorie zu erklären. Die alte und neue Institutionenökonomik …

Persistent link: https://www.econbiz.de/10014608780

Explaining Speculative Expansions

Xiao, Wei - In: Contributions in Macroeconomics 4 (2004) 1

Abstract In this paper we use a modified neoclassical business cycle model to test two competing explanations of the expansion of the 1990s. The model can have indeterminate, multiple equilibria that give rise to expectation-driven business cycles. We fit into the model series of estimated...

Persistent link: https://www.econbiz.de/10014588447

Indeterminacy and the Stability Puzzle in Non-Convex Economies

Evans, George W; McGough, Bruce - In: Topics in Macroeconomics 5 (2005) 1

bivariate reduced form contains parameter regions in which sunspots are stable under learning. However, for parameters … sunspots exist, and under another information assumption, that they exist only for a very small part of the indeterminacy …

Persistent link: https://www.econbiz.de/10014588457

A Herding Perspective on Global Games and Multiplicity

Costain, James S - In: The B.E. Journal of Theoretical Economics 7 (2007) 1

Recently, it has been claimed that full-information multiple equilibria in games with strategic complementarities are not robust, because generalizing to allow slightly heterogeneous information implies uniqueness. This paper argues that this "global games" uniqueness result is itself not...

Persistent link: https://www.econbiz.de/10014589094

Sunspot Rational Beliefs Structures, Equilibria and Excess Volatility

Nielsen, Carsten K - In: The B.E. Journal of Theoretical Economics 7 (2007) 1

RB in general equilibrium models. Individual rational beliefs are assumed correlated by means of sunspots which at the …

Persistent link: https://www.econbiz.de/10014589121

The Productivity of European Co‐operative Banks

Molyneux, Philip; Williams, Jonathan - In: Managerial Finance 31 (2005) 11, pp. 26-35

This paper examines the cost and profit productivity of European co‐operative banks between 1996 and 2003 using the parametric productivity decomposition suggested by Berger and Mester (2003). We find that over the period co‐operative banks benefited from substantial gains in both profit and...

Persistent link: https://www.econbiz.de/10014939831

Site-Seeing. Zur räumlichen Form des städtetouristischen Blicks

Pott, Andreas - In: Zeitschrift für Tourismuswissenschaft 2 (2010) 2, pp. 185-200

-und Erwartungsbildung im (Städte-)Tourismus ist. … touristic comparison and observation. Using notions and concepts derived from sociological systems theory the functions of …

Persistent link: https://www.econbiz.de/10014624235

Monetary and Fiscal Policy Analysis With an Agent-Based Macroeconomic Model

Haber, Gottfried - In: Jahrbücher für Nationalökonomie und Statistik 228 (2008) 2-3, pp. 276-295

Summary Macroeconomic policy analysis is a challenge for agent-based models because these types of model are generally much elaborated on the specific market levels for partial (micro) markets, but have been of limited use for macroeconomic policy issues due to calibration and “model...

Persistent link: https://www.econbiz.de/10014609201

Income Risk, Coping Strategies, and Safety Nets

Dercon, Stefan - In: World Bank Research Observer 17 (2002) 2, pp. 141-166

Poor rural and urban households in developing countries face substantial risks, which they handle with risk-management and risk-coping strategies, including self-insurance through savings and informal insurance mechanisms. Despite these mechanisms, however, vulnerability to poverty linked to...

Persistent link: https://www.econbiz.de/10015361040