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Testing for Symmetry and Conditional symmetry Using Asymmetric Kernels

Fernandes, Marcelo; Mendes, Eduardo F.; Scaillet, Olivier - National Centre of Competence in Research - Financial … - 2011

We derive nonparametric tests of symmetry using asymmetric kernels with either shrinkingor fixed bandwidths. We show … how to extend the approach to examine conditional symmetry byderiving conditions under which our tests are applicable to … perform well even in very small samples, entailing better size andpower properties than some of the existing symmetry tests.[...] …

Persistent link: https://www.econbiz.de/10009419009

Win-Win Partnerships in Sourcing:Empirical Evidence from Germany

Reiß, Michael; Präuer, Arndt - Betriebswirtschaftliches Institut <Stuttgart> - 2002

-win partnerships are examined on thebasis of the three structural dimensions interdependence, integration and symmetry.[...] …

Persistent link: https://www.econbiz.de/10005868443

When inefficiency begets efficiency

Gersbach, Hans; Haller, Hans - 2003

Collective consumption decisions taken by the members of a household may prove inefficient. The impact of such inefficient household decisions on market performance is investigated. At one extreme, market efficiency can occur even when household decisions are inefficient, namely when household...

Persistent link: https://www.econbiz.de/10010292768

Household Formation and Markets

Gersbach, Hans; Haller, Hans; Konishi, Hideo - 2013

We consider competitive markets for multiple commodities with endogenous formation of one- or two-person households. Within each two-person household, externalities from the partner's commodity consumption and unpriced actions are allowed. Each individual has two types of traits: observable...

Persistent link: https://www.econbiz.de/10010323019

Saving Private Pareto

Houba, Harold; Luttens, Roland Iwan; Weikard, Hans-Peter - 2013

We include initial holdings in the jungle economy of Piccione and Rubinstein (Economic Journal, 2007) and relax the assumptions on consumption sets and preferences. We show that initial holdings are irrelevant for lexicographic welfare maximization. Equilibria other than such maximizers can be...

Persistent link: https://www.econbiz.de/10010326389

¿Impacta la calidad regulatoria de los servicios de infraestructura en el crecimiento económico y la distribución del ingreso? El caso de América Latina y el Caribe

Mastronardi, Leonardo; Chisari, Omar O.; Mercatante, Juan I. - 2022

Persistent link: https://www.econbiz.de/10014518308

Pareto Efficiency in the Jungle

Houba, Harold; Luttens, Roland Iwan; Weikard, Hans-Peter - 2014

We include initial holdings in the jungle economy of Piccione and Rubinstein (Economic Journal, 2007) in which the unique equilibrium satisfies lexicographic welfare maximization. When we relax assumptions on consumption sets and preferences slightly, equilibria other than lexicographic welfare...

Persistent link: https://www.econbiz.de/10010491374

Mistakes in cooperation: The stochastic stability of Edgeworth's recontracting

Serrano, Roberto; Volij, Oscar - 2003

In an exchange economyw ith a finite number of indivisible goods, we analyze a dynamic trading process of coalitional recontracting where agents may make mistakes with small probability. We show first that the recurrent classes of the unperturbed (mistakefree) process consist of (i) all core...

Persistent link: https://www.econbiz.de/10010318892

When inefficiency begets efficiency

Gersbach, Hans; Haller, Hans - 2003

Persistent link: https://www.econbiz.de/10009725479

Markets as Economizers of Information : Field Experimental Examination of the 'Hayek Hypothesis'

Al-Ubaydli, Omar - 2012

The work of Friedrich Von Hayek contains several testable predictions about the nature of market processes. Vernon Smith termed the most important one the 'Hayek Hypothesis': equilibrium prices and the gains from trade can be achieved in the presence of diffuse, decentralized information, and in...

Persistent link: https://www.econbiz.de/10013115213