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Bayesian analysis on Engel curves estimation with measurement errors and an instrumental variable

Hasegawa, Hikaru; Kozumi, Hideo - In: Journal of business & economic statistics : JBES ; a … 19 (2001) 3, pp. 292-298

Persistent link: https://www.econbiz.de/10001603247

Kadan, Ohad - 2020

We derive a general expression for the value of information to a price-taking investor in a dynamic environment and … provide a framework for its estimation. We study the value of both private and public information and break it down into its … instrumental value but only a minor psychic value. Estimated values of information increase with the time discount factor, decrease …

Persistent link: https://www.econbiz.de/10012855462

A Bayesian method for characterizing population heterogeneity

Stahl, Dale O. - In: Games 10 (2019) 4/40, pp. 1-12

A stylized fact from laboratory experiments is that there is much heterogeneity in human behavior. We present and demonstrate a computationally practical non-parametric Bayesian method for characterizing this heterogeneity. In addition, we define the concept of behaviorally distinguishable...

Persistent link: https://www.econbiz.de/10012167865

Bayesian and Classical Approaches to Structural Estimation of Risk Attitudes

Georgalos, Konstantinos; Gu, Ariel; Yoo, Hong Il - 2023

Interpersonal heterogeneity in risk attitudes is a regular feature of experimental data on decision making under risk. Despite a growing consensus on the use of the random coefficient or hierarchical model to accommodate this heterogeneity, there is a burgeoning Bayesian-classical divide...

Persistent link: https://www.econbiz.de/10014349488

Consumer misperceptions, uncertain fundamentals, and the business cycle

Hürtgen, Patrick - 2011

cycle model. I embed imperfect information as in Lorenzoni (2009) into a new Keynesian model with price and wage rigidities …

Persistent link: https://www.econbiz.de/10009748252

Inventory Models with Markovian Demands and Cost Functions of Polynomial Growth

Beyer, Dirk; Sethi, Suresh; Taksar, Michael I. - 2008

This paper studies stochastic inventory problems with unbounded Markovian demands, ordering costs that are lower semicontinuous, and inventory/backlog (or surplus) costs that are lower semicontinuous with polynomial growth. Finite-horizon problems, stationary and nonstationary discounted-cost...

Persistent link: https://www.econbiz.de/10014047819