We have to consider that natural laws dictate all aspects of our life. These are the First and the Second Law of Thermodynamics. It is therefore necessary to look into details of this fact in order to avoid making mistakes redarding the future life of mankind. To violate these laws could have...

Monte Carlo methods are simulation algorithms to estimate a numerical quantity in a statistical model of a real system. These algorithms are executed by computer programs. Variance reduction techniques (VRT) are needed, even though computer speed has been increasing dramatically, ever since the...

In this fifth article in the Economists' Hubris series, we investigate the practical applications of eight papers that won best-article awards in 2008 and 2009 from the Journal of Finance or the Journal of Financial Economics, the two leading journals in finance. We find that these articles are...

In matching markets the number of blocking pairs is often used as a criterion to compare matchings. We argue that this criterion is lacking an economic interpretation: In many circumstances it will neither reflect the expected extent of partner changes, nor will it capture the satisfaction of...

In the decades following WWII, the Cowles Commission for Research in Economics came to represent new technical standards that informed most advances in economic theory. The public emergence of this community was manifest at a conference held in June 1949 titled Activity Analysis of Production...

Производственная функция является одним из основных понятий экономической теории. Как основа для моделирования поведения предприятий производственные...

В данной работе нами рассматриваются некоторые свойства различных производственных функций. Одним из ключевых моментов при построении эмпирических...

При оценивании производственных функций исследователь сталкивается с рядом проблем, которые в наиболее общем виде можно разделить на две группы: проблемы,...