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We examine the effect of research and development (R&D) on long-term economic growth using the Bayesian model averaging (BMA) to deal rigorously with model uncertainty. Previous empirical studies investigated the effect of dozens of regressors on long-term growth, but they did not examine the...
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with unawareness, define equilibrium, and prove existence. We show how equilibria are extended naturally from lower to … investigate the robustness of equilibria to uncertainty about opponents' awareness of actions. We show that a Nash equilibrium of …
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commitment by the third party to a given level of assistance may be welfare-improving. -- Bayesian equilibrium ; Grossman …
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