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We study a selection game between two committee members (the players). They interview candidates sequentially and have to decide, after each interview, whether to hire the candidate or to interview the next candidate. Each player can either accept or reject the candidate, and if he rejects the...
Persistent link: https://www.econbiz.de/10008565482
This paper shows that when workers have some market power and face substantial uncertainty concerning their productivity, it may be in their interest to formulate their wage claims with a view to the information thereby revealed. This learning behaviour may in turn be responsible for...
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This paper presents an overview of the application of the mathematical theory of 'high-low' search to firms' pricing and production decisions. We show how this methodology can be used to determine an optimal sequence of price-quantity decisions by a firm through time. We suppose that the firm...
Persistent link: https://www.econbiz.de/10005656333
In this paper we develop a nonparametric estimator for the local average response of a censored dependent variable to endogenous regressors in a nonseparable model where the unobservable error term is not restricted to be scalar and where the nonseparable function need not be monotone in the...
Persistent link: https://www.econbiz.de/10010884902
Recent literature promotes commitment products as a new remedy for overcoming self-control problems and savings constraints. Committing to a welfare-improving contract requires knowledge about one's preferences, including biases and inconsistencies. If agents are imperfectly informed about their...
Persistent link: https://www.econbiz.de/10010884903
Abstract. Since Manski's (1975) seminal work, the maximum score method for discrete choice models has been applied to various econometric problems. Kim and Pollard (1990) established the cube root asymptotics for the maximum score estimator. Since then, however, econometricians posed several...
Persistent link: https://www.econbiz.de/10010888648