structural breaks in the factor loadings for the specification and estimation of factor models based on principal components and …

Although it is well known that Markov process theory, frequently applied in the literature on income convergence …

developed in the literature. Next, we go beyond testing by defining and estimating the minimal deviations from rational …

marginal costs and production technologies. The paper models the incentive to collude in a differentiated products Bertrand-oligopoly …

We report results of experiments designed to test the predictions of the best reply process. In a Cournot oligopoly …

We study the efficiency of oligopoly equilibria in a model where firms compete over capacities and prices. The … demands across the firms. We first establish the existence of pure strategy subgame perfect equilibria (oligopoly equilibria … oligopoly equilibria of this game can be arbitrarily low. However, if the best oligopoly equilibrium is selected (among multiple …

find no experimental evidence of such instability in a four firm oligopoly. Moreover, there are no differences between a …