Showing 41 - 50 of 753
In this paper we extend the work of Simar (2007) introducing noise in nonparametric frontier models. We develop an approach that synthesizes the best features of the two main methods in the estimation of production efficiency. Specifically, our approach first allows for statistical noise,...
Persistent link: https://www.econbiz.de/10005464577
Leading papers in a journal’s issue attract, on average, more citations than those that follow. It is, however, difficult to assess whether they are of better quality (as is often suggested), or whether this happens just because they appear first in an issue. We make use of a natural...
Persistent link: https://www.econbiz.de/10005464578
This paper studies correlation in discounted infinitely repeated games with public monitoring. Two extensions of the perfect public equilibrium are proposed: the public correlated equilibrium, where a correlation device sends private correlated messages to the players at the beginning of each...
Persistent link: https://www.econbiz.de/10005464579
We use panel data on advertising expenditures to check the influence of tobacco advertising bans on the advertising industry. We find no clear evidence of a negative effect of tobacco bans on total per capita advertising expenditures.
Persistent link: https://www.econbiz.de/10005464580
We consider a bargaining problem where one of the players, the intellectual property rights owner (IPRO) can allocate licenses for the use of this property among the interested parties (agents). The agents negotiate with him the allocation of licenses and the payments of the licensees to the...
Persistent link: https://www.econbiz.de/10005464581
An auction house runs a second-price auction with a possibility of resale through re-auctions. It collects listing and closing fees from the seller. We find the fees which maximize the revenue of the auction house. In particular, we show that the optimal listing fee is zero. Our findings are...
Persistent link: https://www.econbiz.de/10005464582
We study the problem of optimal contract design in an environment with an uninformed decision maker and two perfectly informed experts. We characterize optimal contracts and observe that consulting two experts rather than one is always beneficial; this is so even if the bias of a second expert...
Persistent link: https://www.econbiz.de/10005464583
A decision maker is engaged in a repeated interaction with Nature. The objective of the decision maker is to guarantee to himself the average payoff as large as the best-reply payoff to Nature's empirical distribution of play, no matter what Nature does. The decision maker with perfect recall...
Persistent link: https://www.econbiz.de/10005464584
This paper applies a nonparametric heteroskedasticity and autocorrelation consistent (HAC) estimator of error terms in the context of the spatial autoregressive model of GDP per capita convergence of European regions at NUTS 2 level. By introducing the spatial dimension, it looks at how the...
Persistent link: https://www.econbiz.de/10005464585
The high cost of searching for employers borne by prospective employees increases friction in the labor market and inhibits formation of efficient employer-employee relationships. It is conventionally agreed that mechanisms that reduce the search costs (e.g., internet portals for job search)...
Persistent link: https://www.econbiz.de/10005464586