This paper investigates the finite sample performance of three semiparametric estimators of the Box-Cox model. Two of the semiparametric estimators are the nonlinear two-stage least squares (NL2SLS) estimator proposed by Amemiya and Powell (1981) and a rescaled version (RNL2SLS) proposed by...

We analyze simple adaptive learning processes to model the evolution of effective communication in cheap-talk games with initially meaningless signals. We suggest that learning rules may be sensitive to the information available to players at the population level. As a consequence, learning...

We conduct Monte Carlo experiments to examine whether the Hansen and Jagannathan (1991) bound is a useful device for evaluating asset pricing models. Specifically, we use recently developed statistical tests, which are based on a 'distance' between the model and the Hansen-Jagannathan bound, to...

This paper is concerned with testing the hypothesis that a conditional median function is linear against a nonparametric alternative with unknown smoothness. We develop a test that is uniformly consistent against alternatives whose distance from the linear model converges to zero at the fastest...

This paper explores how efficiency promotes the use of structure in language. It starts from the premise that one of language's central characteristics is to provide a means for saying noval things about novel circumstances, its creativity. It is reasonable to expect that in a rich and changing...