Showing 1 - 10 of 20
Persistent link: https://www.econbiz.de/10011086842
This paper compares the performance of stimulus response (SR) and belief-based learning (BBL) using data from game theory experiments. The environment, extensive form games played in a population setting, is novel in the empirical literature on learning in games. Both the SR and BBL models fit...
Persistent link: https://www.econbiz.de/10011092665
Since the pioneering work of Koenker and Bassett (1978), econometric models involving median and quantile rather than the classical mean or conditional mean concepts have attracted much interest.Contrary to the traditional models where the noise is assumed to have mean zero, median-restricted...
Persistent link: https://www.econbiz.de/10011092707
We investigate the effects of fiscal policy surprises for US data, using vector autoregressions.We overcome the difficulties that changes in fiscal policy may manifest themselves in variables other than fiscal variables first and that fiscal variables may respond 'automatically' to business...
Persistent link: https://www.econbiz.de/10011092709
Persistent link: https://www.econbiz.de/10011092933
We take a fresh look at Theil's BLUS residuals and ask why they have gone out of fashion.All our simulation experiments indicate that tests based on BLUS residuals have higher power than those based on the more popular recursive residuals, even in those cases (structural breaks) where intuition...
Persistent link: https://www.econbiz.de/10011092941
We experimentally investigate the development of voluntary transfers in an overlapping generations environment. By varying the information conditions of the game, we study whether the development of transfers is related to the possibility of future generations to monitor and reciprocate...
Persistent link: https://www.econbiz.de/10011090845
Given the assumption that the components of a vector time series are stationary about nonlinear deterministic time trends, nonlinear co-trending is the phenomenon that one or more linear combinations of the time series are stationary about a linear trend, hence the series have common nonlinear...
Persistent link: https://www.econbiz.de/10011091350
This paper discusses the methodological views of David Hendry. A critique is given on the reification of the so-called Data Generating Process. The merits of general to specific modelling are analyzed. Hendry's neo-Popperian philosophy is examined. It is argued that this philosophy is not able...
Persistent link: https://www.econbiz.de/10011091417
The well known Sperner lemma states that in a simplicial subdivision of a simplex with a properly labeled boundary there is a completely labeled simplex. We present two combinatorial theorems on polytopes which generalize Sperner's lemma.Using balanced simplices, a generalized concept of...
Persistent link: https://www.econbiz.de/10011091505