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On the behavior of proposers in ultimatum games

Brenner, Thomas; Vriend, Nicolaas J. - 2003

We demonstrate that one should not expect convergence of the proposals to the subgame perfect Nash equilibrium offer in standard ultimatum games. First, imposing strict experimental control of the behavior of the receiving players and focusing on the behavior of the proposers, we show...

Persistent link: https://www.econbiz.de/10010284129

Do asymmetric and nonlinear adjustments explain the forward premium anomaly?

Baillie, Richard T.; Kilic, Rehim - 2005

methodology is motivated by some recent economic theory literature on transactions costs, the limits to speculation and hysteresis … asymmetric behavior in the relationship, it should be noted that parameter estimation uncertainty indicates quite wide confidence …

Persistent link: https://www.econbiz.de/10010284140

Management of a capital stock by Strotz's naive planner

Tyson, Christopher J. - 2007

characterizations leave the discounting function essentially unrestricted, the theory can accommodate, in particular, decision makers …

Persistent link: https://www.econbiz.de/10010284143

A simple test of the New Keynesian Phillips Curve

Carriero, Andrea - 2007

We propose a way to test the New Keynesian Phillips Curve (NKPC) without estimating the structural parameters governing the curve, i.e. price stickiness and firms' backwardness. Using this strategy we can test the NKPC avoiding the identification problems related to the GMM approach. We find...

Persistent link: https://www.econbiz.de/10010284158

Arbitrage, equilibrium, and nonsatiation

Allouch, Nizar; Le Van, Cuong; Page, Frank H. - 2004

contributions to the theory of arbitrage and competitive equilibrium. First, we show that, in general, in unbounded exchange …

Persistent link: https://www.econbiz.de/10010284163

Segregation in networks

Fagiolo, Giorgio; Valente, Marco; Vriend, Nicolaas J. - 2005

Schelling (1969, 1971, 1971, 1978) considered a simple model with individual agents who only care about the types of people living in their own local neighborhood. The spatial structure was represented by a one- or two-dimensional lattice. Schelling showed that an integrated society will...

Persistent link: https://www.econbiz.de/10010284165

Cross-sectional averaging and instrumental variable estimation with many weak instruments

Kapetanios, George; Marcellino, Massimiliano - 2008

Instrumental variable estimation is central to econometric analysis and has justifiably been receiving considerable and … construction of the final instruments, may provide effective estimation strategies. Our use of cross-sectional averaging promotes … of its consistency properties and also show, via a Monte Carlo study, that the approach can provide improved estimation …

Persistent link: https://www.econbiz.de/10010284172

A shrinkage instrumental variable estimator for large datasets

Carriero, Andrea; Kapetanios, George; Marcellino, … - 2008

construction of the final instruments, may provide effective estimation strategies. Shrinkage is a well known approach that …

Persistent link: https://www.econbiz.de/10010284174

Network formation and social coordination

Goyal, Sanjeev; Vega-Redondo, Fernando - 2003

This paper develops a simple model to examine the interaction between partner choice and individual behavior in games of coordination. An important ingredient of our approach is the way we model partner choice: we suppose that a player can establish ties with other players by unilaterally...

Persistent link: https://www.econbiz.de/10010284175

Uncovered set choice rule

Lombardi, Michele - 2006

I study necessary and sufficient conditions for a choice function to be rationalised in the following sense: there exists a complete asymmetric relation T (a tournament) such that for each feasible (finite) choice situation, the choice coincides with the uncovered set of T. This notion of...

Persistent link: https://www.econbiz.de/10010284197