The purpose of this note is to explore the problem of non-convex labor supply decision in an economy with imperfect observability of work effort, and the need to use efficiency wages to prevent shirking as in Shapiro and Stiglitz (1984). In addition, the paper and explicitly performs the...

The purpose of this note is to explore the problem of a non-convex labor supply decision in an economy with unobservable e ort and incentive ("fair") wages a la Danthine and Kurmann (2004), and explicitly perform the aggregation presented there without a formal proof, and thus provide - starting...

Consensus forecasts are inefficient, over-weighting older information already in the public domain at the expense of new private information, when individual forecasters have different information sets. Using a cross-country panel of growth forecasts and new methodological insights, this paper...

This paper examines the consequences of data error in data series used to construct aggregate indicators. Using the most popular indicator of country level economic development, the Human Development Index (HDI), we identify three separate sources of data error. We propose a simple statistical...

The Internet of things (IoT) is a wireless network designed to perform specific tasks and plays a crucial role in various fields such as environmental monitoring, surveillance, and healthcare. To address the limitations imposed by inadequate resources, energy, and network scalability, this type...