We introduce a novel simulated certainty equivalent approximation (SCEQ) method for solving dynamic stochastic problems. Our examples show that SCEQ can quickly solve high-dimensional finite- or infinite-horizon, stationary or non- stationary dynamic stochastic problems with hundreds of state...

There is by now ample evidence from laboratory experiments that individuals exhibit "prosocial" or "other-regarding" preferences. However, a key question is whether the importance of other-regarding preferences documented in the laboratory can be readily generalized to draw conclusions about the...

We measure a specific form of other-regarding behavior, costly cooperation with an anonymous other, among 645 subjects at a trucker training program in the Midwestern US. Using subjects' second-mover strategy in a sequential form of the Prisoners' Dilemma, we categorize subjects as: Free Rider,...

There is by now ample evidence from laboratory experiments that individuals exhibit "prosocial" or "other-regarding" preferences. However, a key question is whether the importance of other-regarding preferences documented in the laboratory can be readily generalized to draw conclusions about the...

We measure a specific form of other-regarding behavior, costly cooperation with an anonymous other, among 645 subjects at a trucker training program in the Midwestern US. Using subjects' second-mover strategy in a sequential form of the Prisoners' Dilemma, we categorize subjects as: Free Rider,...

The latest novel by Alexandru Ivasiuc, ,,The crawl fish” (,,Racul”, Albatros Publishing House, 1976), deals with the human condition, excelling thru parables, psychoanalysis, a world of contrast and human decay up to zoomorphism. Alexandru Ivasiuc used different literature genres to bring...

Antitrust authorities often consider parallel pricing and market share stability to be clues of illegal collusion. To analyze whether this inference is correct, I develop a model of price competition with differentiated products in which demand and costs vary over time. In many cases parallel...