Showing 71 - 80 of 531
We study a strategic model of dynamic trading where agents are asymmetrically informed over common value sources of uncertainty. There is a continuum of buyers and a finite number n of sellers. All buyers are uninformed, while at least one seller is privately informed about the true state of the...
Persistent link: https://www.econbiz.de/10010261280
We study the dynamic stability of networks in a two-sided economy of agents labelled men and women. Each agent desires relationships with the other type, but having multiple partners is costly. This cost-benefit trade-off results in each agent having a single-peaked utility function, the peak...
Persistent link: https://www.econbiz.de/10015236623
More than half of the HIV/AIDS-infected population today are women. We study a dynamic model of (in)fidelity, which explains the HIV/AIDS gender gap by the configuration of sexual networks. Each individual desires sexual relationships with opposite sex individuals. Two Markov matching processes...
Persistent link: https://www.econbiz.de/10015237231
We extend Nash's bargaining theory to non-convex and coalitional problems. This paper investigates the implications of Nash-like axioms for bilateral problems and the properties of consistency and converse consistency over multilateral settings. The result is a characterization of the Nash set...
Persistent link: https://www.econbiz.de/10010420238
Consider an exchange economy with a finite number of agents, who are arbitragers, in that they try to upset allocations imagining plausible beneficial trades. Their thought process is interactive, in that agents are conscious that the others are also going through the same steps. With this...
Persistent link: https://www.econbiz.de/10010420239
Given any observed demand behavior by means of a demand function, we quantify by how much it departs from rationality. Using a recent elaboration of the "almost implies near" principle, the measure of the gap is the smallest norm of the correcting matrix that would yield a Slutsky matrix with...
Persistent link: https://www.econbiz.de/10010420258
We study the long-run stability of trade networks in a two-sided economy of agents labelled men and women. Each agent desires relationships with the other type, but having multiple partners is costly. This cost-benefit trade-off results in each agent having a single-peaked utility over the...
Persistent link: https://www.econbiz.de/10010420264
An information transaction entails the purchase of information. Formally, it consists of an information structure together with a price. We develop an index of the appeal of information transactions, which is derived as a dual to the agent's preferences for information. The index of information...
Persistent link: https://www.econbiz.de/10010420275
Given any observed finite sequence of prices, wealth, and demand choices, we propose a way to measure and classify the departures from rationality in a systematic fashion, by connecting violations of the underlying Slutsky matrix properties to the length of revealed demand cycles. The approach...
Persistent link: https://www.econbiz.de/10011994625
Top5itis is a disease that currently affects the economics discipline. It refers to the obsession of the profession of academic economists with the so-called "top5 journals".
Persistent link: https://www.econbiz.de/10012058632