Showing 91 - 100 of 969
We conduct a laboratory experiment with agents working on and principals benefiting from a real effort task in which the agents’ effort/performance can only be evaluated subjectively. Principals give subjective performance feedback to agents and agents have an opportunity to sanction...
Persistent link: https://www.econbiz.de/10008462064
Building on Battigalli and Dufwenberg (2009)'s framework of dynamic psychological games and the recent progress in the modeling of dynamic unawareness, we provide a general framework that allows for `unawareness' in the strategic interaction of players motivated by belief-dependent psychological...
Persistent link: https://www.econbiz.de/10008462065
This paper considers the relationship between external aid and development in Mozambique from 1980 to 2004. The main objective is to identify the specific mechanisms through which aid has influenced the developmental trajectory of the country and whether one can plausibly link outcomes to aid...
Persistent link: https://www.econbiz.de/10005818471
Cost-benefit and health policy studies often model a consequence occurring over time as a continuous stream of events. Such a consequence is measured by the rates at which events occur or by the states that occur, and the value of the consequence is measured by an integral. This paper presents a...
Persistent link: https://www.econbiz.de/10005818472
We consider the class of (finite) spatial games. We show that the problem of determining whether there exists a Nash equilibrium in which each player has a payoff of at least k is NP-complete as a function of the number of players. When each player has two strategies and the base game is an...
Persistent link: https://www.econbiz.de/10005818473
We survey methods for using micro data in the calibration of dynamic general equilibrium models.
Persistent link: https://www.econbiz.de/10005818474
This paper contributes to the micro-foundation of money in centralized markets with idiosyncratic uncertainty. It shows existence of stationary monetary equilibria and ensures that there is an optimum quantity of money. The rational solution of our model is compared with actual behavior in a...
Persistent link: https://www.econbiz.de/10005818475
Several models of intra-household decision making have been suggested in the literature. We present a framework that includes all suggested models and variants as special cases. We derive the theoretical predictions of these models for the relationship between expenditures on goods and the...
Persistent link: https://www.econbiz.de/10005818476
In the present paper a generalization of the Kalai-Smorodinsky solution to nonconvex n-person bargaining problems is provided. The generalization is obtained by a slight weakening of the axioms used in Kalai-Smorodinsky (1975) and Roth (1980).
Persistent link: https://www.econbiz.de/10005818477
Time-budget studies done among contemporary primitive people suggest that the first farmers worked harder to attain subsistence than their foraging predecessors. This makes the adoption of agriculture in the Stone Age one of the major curiosities in human cultural history. Theories offered by...
Persistent link: https://www.econbiz.de/10005818478