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Survey-elicited ex ante outputs are used to develop an empirical representation of an Arrow–Debreu–Savage state-contingent technology in an activity-analysis framework. An empirical test of output-cubicality is developed for that framework. We apply those tools to assess production...
Persistent link: https://www.econbiz.de/10011154989
use coincides with a unique symmetric equilibrium that guarantees survival of the resource. As the uncertainty about the … under relatively high uncertainty about resource size, CPR users frequently implement decision strategies that terminate the … game immediately. When this uncertainty is reduced, they maintain a positive resource level for longer durations. Copyright …
Persistent link: https://www.econbiz.de/10011155048
This is a theoretic and econometric assessment of Peter Ferderer’s seminal paper published in the Journal of Post Keynesian Economics with the same title in 1993. New data shows that high forecaster discords coincide with a decrease in Investment expenditure. Specifically, the forecaster...
Persistent link: https://www.econbiz.de/10011156960
in a changing scenario. Public utilities operating in the energy industry must «live in the uncertainty», challenging … moving to the analysis of relevant contexts: Global, national, local. Uncertainty and change characterizing such contexts …
Persistent link: https://www.econbiz.de/10011157571
Returns on LBOs are on average higher for developed economies. However, returns of LBOs during high economic growth periods are high for developing economies relative to developed economies. Onthe other hand returns in developing nations are lower when compared to the returns in developed...
Persistent link: https://www.econbiz.de/10011168519
is conveyed through the price system. Specifically, since the learning process yields uncertainty, we study the effect of …
Persistent link: https://www.econbiz.de/10011170399
There is not a clear divide in literature between formal and informal contracts. The classical approach which is based on criteria like court enforcement or written content does not suffice for describing the international contracts under scrutiny in our case study of the Chilean fruit trade....
Persistent link: https://www.econbiz.de/10011170449
.  One of the biggest challenges for economic modeling is the inherent uncertainty of climate events, which crucially affects …
Persistent link: https://www.econbiz.de/10011183192
We consider the effect of an increase in the risk from pollution. We show that in the case of a flow pollution, when the number of players is sufficiently large, the result of Bramoulle and Treich, showing that a marginal increase of risk in the neighborhood of a risk-free world is...
Persistent link: https://www.econbiz.de/10011183755
This article reconsiders the theory of existence of efficient allocations and equilibria when consumption sets are unbounded below under the assumption that agents have incomplete preferences. It is motivated by an example in the theory of assets with short-selling where there is risk and...
Persistent link: https://www.econbiz.de/10011184304