Mikhail (1972a) found that estimated 2SLS biases, obtained through simulation using antithetic variables and control variate methods, were closer to each other than to Nagar's bias approximation to order T-1. As remarked by Kiviet and Phillips (1996), this result represents one of a very small...

In simultaneous equation models the two stage least squares (2SLS) estimator of the coefficients, though consistent, is biased in general and the nature of this bias has given rise to a good deal of research. However, little if any attention has been given to the bias that arises when an...

Asymptotic expansions are employed in a dynamic regression model with a unit root in order to find approximations for the bias, the variance and for the mean squared error of the least-squares estimator. For this purpose such expansions are shown to be useful only when the autoregressive model...

An approximation to order T-2 is obtained for the bias of the least-squares estimator in the stationary ARX model which yields generalisations of Kendall's and White's classic results for particular variants of AR(1) models. The results show that generally the second-order approximation is...

We study optimal tax policies in a life-cycle economy with risky human capital and permanent ability differences, where both ability and learning effort are private information of the agents. The optimal policies balance several goals: redistribution across agents, insurance against human...

We run experiments with a stag hunt and bargaining coordination game. Using a between-subjects design, we vary the identity of the opponent between someone of the same culture or a different culture. The idea is to see whether cultural norms or identity play a part in coordination decisions. We...

This paper studies the impact of ambiguity in the best shot and weakest link models of public good provision. The models are ?rst analysed theoretically. Then we conduct experiments to study how ambiguity affects behaviour in these games. We test whether subjects? perception of ambiguity differs...

We study the role of village-level religious fragmentation on intra- and inter-group cooperation in India. We report on data on two-player Prisoners’ Dilemma and Stag Hunt experiments played by 516 Hindu and Muslim participants in rural India. Our treatments are the identity of the two players...