Showing 51 - 60 of 1,382
Persistent link: https://www.econbiz.de/10005085675
Persistent link: https://www.econbiz.de/10005085676
Persistent link: https://www.econbiz.de/10005085677
In this paper, we report on a series of free-form bargaining experiments in which two players have to distribute four indivisible goods among themselves. In one treatment the monetary payoffs associated with each bundle of goods are common knowledge; in a second treatment only the ordinal ranking...
Persistent link: https://www.econbiz.de/10005085678
It is shown how one can effectively use cross-section data in modelling the change over time in aggregate consumption expenditure of a heterogeneous population. The starting point of our aggregation analysis is a dynamic behavioral relation on the household level. Based on certain hypotheses on...
Persistent link: https://www.econbiz.de/10005085679
Let S=(S_t), t=0,1,...,T (T being finite), be an adapted R^d-valued process. Each component process of S might be interpreted as the price process of a certain security. A trading strategy H=(H_t), t= 1,...,T, is a predictable R^d-valued process. A strategy H is called extreme if it represents a...
Persistent link: https://www.econbiz.de/10005085680
We report results of experiments designed to test the predictions of the best reply process. In a Cournot oligopoly with four firms, the best reply process should theoretically explode if demand and cost functions are linear. We find, however, no experimental evidence of such instability....
Persistent link: https://www.econbiz.de/10005085681
Pricing and hedging of long-term interest rate sensitive products require to extrapolate the term structure beyond observable maturities. For the resulting limiting term structure we show two results by postulating no arbitrage in a bond market with infinitely increasing maturities: long...
Persistent link: https://www.econbiz.de/10005085682
I consider a situation, where the agent can acquire payoff-relevant information either before or after the contract is signed. To raise efficiency, the principal might solicit information; to retain all surplus, however, she must prevent precontractual information gathering. The following class...
Persistent link: https://www.econbiz.de/10009651598
The paper addresses the problem of optimally matching heterogeneous players in a two-stage two-type Lazear-Rosen tournament in which the semifinal losers are eliminated. The organizer of the tournament can either choose two homogeneous semifinals -- one between two strong players and the other...
Persistent link: https://www.econbiz.de/10009651599