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This paper focuses on econometric issues, especially the common assumption that monetary payoff is subjects' actual utility, in estimating subjects' learning behaviors using experimental data. I propose a generalized adaptive learning model that nests commonly used learning rules. First, I show...
Persistent link: https://www.econbiz.de/10012137082
This paper develops and estimates a model of firm-level fixed capital investment when firms face borrowing constraints. Dynamically optimal investment functions are derived for the firms with and without financial constraints. These policy functions are then used to construct the likelihood of...
Persistent link: https://www.econbiz.de/10011992480
Computational methods both open the frontiers of economic analysis and serve as a bottleneck in what can be achieved. Using the quantum Monte Carlo (QMC) algorithm, we are the first to study whether quantum computing can improve the run time of economic applications and challenges in doing so....
Persistent link: https://www.econbiz.de/10013264908
In their IZA Discussion Paper 10247, Johansson and Lee claim that the main result (Proposition 3) in Abbring and Van den Berg (2003b) does not hold. We show that their claim is incorrect. At a certain point within their line of reasoning, they make a rather basic error while transforming one...
Persistent link: https://www.econbiz.de/10011543629
This scoping paper aims to present a summary of the past and present macroeconometric models of the Philippine economy. This paper looks at the various approaches and methodology used in modelling the economy. The various approaches were compared and contrasted in order to find the best possible...
Persistent link: https://www.econbiz.de/10011994053
wide application of these methods as a "credibility revolution" in econometrics that has finally provided persuasive … crisis in econometrics. …
Persistent link: https://www.econbiz.de/10011602961
like wages or GDP growth. Applied econometrics has since evolved to prioritize the estimation of specific causal effects …
Persistent link: https://www.econbiz.de/10011607621
Trygve Haavelmo's The Probability Approach in Econometrics (1944) has been widely regarded as the foundation document … of modern econometrics. Nevertheless, its significance has been interpreted in widely different ways. Some modern … techniques and a close reading of econometrics articles and textbooks to trace the way in which the economics profession received …
Persistent link: https://www.econbiz.de/10011708115
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