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Social and Behavioral Sciences Commons™
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- Mechanism design (33)
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- Adverse selection (24)
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Articles 2161 - 2190 of 2768
Full-Text Articles in Social and Behavioral Sciences
Market Structure In The ‘Research And Development’ Phase, John J. Beggs
Market Structure In The ‘Research And Development’ Phase, John J. Beggs
Cowles Foundation Discussion Papers
No abstract provided.
The Dynamic Interaction Between Industry Level Profits And Research And Development, John J. Beggs
The Dynamic Interaction Between Industry Level Profits And Research And Development, John J. Beggs
Cowles Foundation Discussion Papers
No abstract provided.
Interest Rate Policies And Informational Efficiency, Laurence Weiss
Interest Rate Policies And Informational Efficiency, Laurence Weiss
Cowles Foundation Discussion Papers
Monetary policy may be implemented either by controlling the nominal money supply or by fixing the nominal interest rates. This paper investigates the effects on available information of both kinds of policies in the equilibrium rational expectations model presented in Grossman-Weiss (1980). A necessary and sufficient condition for informational efficiency is that agents have homogenous expectations about the real interest rate. Interest rate policies can be first best in the sense of yielding higher quality information than any feasible money growth feedback policies. Unlike desirable money growth rules, interest rate policies do not require more information on behalf of the …
Estimated Output, Price, Interest Rate, And Exchange Rate Linkages Among Countries, Ray C. Fair
Estimated Output, Price, Interest Rate, And Exchange Rate Linkages Among Countries, Ray C. Fair
Cowles Foundation Discussion Papers
No abstract provided.
Ratio Equilibrium In An Economy With An Externality, Yozo Ito, Mamoru Kaneko
Ratio Equilibrium In An Economy With An Externality, Yozo Ito, Mamoru Kaneko
Cowles Foundation Discussion Papers
No abstract provided.
Strong Core Theorems With Nonconvex Preferences, Robert M. Anderson
Strong Core Theorems With Nonconvex Preferences, Robert M. Anderson
Cowles Foundation Discussion Papers
It is known that in large economies with strongly convex preferences, the commodity bundles agents receive at core allocations are near their demand sets. Without convexity, it is know that agents need not be near their demand sets, although they will satisfy a weaker condition. In this paper, we show that, for “most” economies (in the sense of probability and in the sense of the Baire category theorem), the stronger form of approximation holds without convexity.
Cake Slicing And Revealed Government Preference, John J. Beggs, Samuel Strong
Cake Slicing And Revealed Government Preference, John J. Beggs, Samuel Strong
Cowles Foundation Discussion Papers
No abstract provided.
Existence Of Equilibrium In A Hyperfinite Exchange Economy: I And Ii, Donald J. Brown, Lucinda M. Lewis
Existence Of Equilibrium In A Hyperfinite Exchange Economy: I And Ii, Donald J. Brown, Lucinda M. Lewis
Cowles Foundation Discussion Papers
No abstract provided.
Properties Of Manipulative Government Forecasts, John J. Beggs
Properties Of Manipulative Government Forecasts, John J. Beggs
Cowles Foundation Discussion Papers
No abstract provided.
Marginal Cost Pricing, Taxation And Subsidies In Urban Transport, John J. Beggs
Marginal Cost Pricing, Taxation And Subsidies In Urban Transport, John J. Beggs
Cowles Foundation Discussion Papers
No abstract provided.
An Empirical Note On The Disposition Of U.S. Corporations To Undertake Research And Development Expenditures, John J. Beggs
An Empirical Note On The Disposition Of U.S. Corporations To Undertake Research And Development Expenditures, John J. Beggs
Cowles Foundation Discussion Papers
No abstract provided.
The Demand For Telephone Services In Australia And The Welfare Implications Of Alternative Pricing Policies, John J. Beggs
The Demand For Telephone Services In Australia And The Welfare Implications Of Alternative Pricing Policies, John J. Beggs
Cowles Foundation Discussion Papers
No abstract provided.
Society, Land, Love Or Money (A Strategic Model Of How To Glue The Generations Together), Martin Shubik
Society, Land, Love Or Money (A Strategic Model Of How To Glue The Generations Together), Martin Shubik
Cowles Foundation Discussion Papers
No abstract provided.
Duopoly With Differentiated Products And Entry Barriers, Kofi O. Nti, Martin Shubik
Duopoly With Differentiated Products And Entry Barriers, Kofi O. Nti, Martin Shubik
Cowles Foundation Discussion Papers
Product differentiated duopoly with a potential entrant facing a single period fixed cost entry barriers is modeled as a noncooperative game. In addition to characterizing the equilibrium solutions and relating them to entry costs and product differentiation, a comparison of price and quantity competition shows that entry conditions are qualitatively sensitive to the strategic variables used in a given industry. Quantity competition appears to be more favorable for entry than price competition. The use of threats and other exclusionary tactics, such as limit pricing, decisively determine the outcome when entry costs are moderate.
Equilibria Of A Two-Person Non-Zero Sum Noisy Game Of Timing, Carolyn Pitchik
Equilibria Of A Two-Person Non-Zero Sum Noisy Game Of Timing, Carolyn Pitchik
Cowles Foundation Discussion Papers
Necessary and sufficient conditions are obtained for the existence of an equilibrium point (as well as for the existence of a dominating equilibrium point) in a two-person non-zero sum game of timing.
Core Theory With Strongly Convex Preferences, Robert M. Anderson
Core Theory With Strongly Convex Preferences, Robert M. Anderson
Cowles Foundation Discussion Papers
We consider economies with preferences drawn from a very general class of strongly convex preferences, closely related to the class of convex (but intransitive and incomplete) preferences for which Mas-Colell proved the existence of competitive equilibria [13]. We prove a strong core limit theorem for sequences of such economies with a mild assumption on endowments (the largest endowment is small compared to the total endowment) and a uniform convexity condition. The results extend corresponding results in Hildenbrand’s book [8]. The proof, which is based on our earlier result for economies with more general preferences [2], is elementary.
Additively Decompable Quasiconvex Functions, Gerard Debreu, Tjalling C. Koopmans
Additively Decompable Quasiconvex Functions, Gerard Debreu, Tjalling C. Koopmans
Cowles Foundation Discussion Papers
No abstract provided.
National Savings, Economic Welfare, And The Structure Of Taxation, Alan J. Auerbach, Laurence Kotlikoff
National Savings, Economic Welfare, And The Structure Of Taxation, Alan J. Auerbach, Laurence Kotlikoff
Cowles Foundation Discussion Papers
No abstract provided.
Person Game, Ludo Van Der Heyden
Person Game, Ludo Van Der Heyden
Cowles Foundation Discussion Papers
No abstract provided.
The Adequacy Of Savings, Laurence Kotlikoff, Avia Spivak, Lawrence H. Summers
The Adequacy Of Savings, Laurence Kotlikoff, Avia Spivak, Lawrence H. Summers
Cowles Foundation Discussion Papers
No abstract provided.
On The Consistency Of Non-Linear Fiml, John J. Beggs
On The Consistency Of Non-Linear Fiml, John J. Beggs
Cowles Foundation Discussion Papers
No abstract provided.
Characteristic Functions And The Tail Behavior Of Probability Distributions, Peter C.B. Phillips
Characteristic Functions And The Tail Behavior Of Probability Distributions, Peter C.B. Phillips
Cowles Foundation Discussion Papers
The theory of Fourier transforms of generalized functions is used to extract general formulas for the tail behavior of a probability distribution from the behavior of its characteristic function in the locality of the origin. The theory is applied to develop asymptotic formula for the tails of the stable distributions.
A Market Value Approach To Approximate Equilibria, Robert M. Anderson
A Market Value Approach To Approximate Equilibria, Robert M. Anderson
Cowles Foundation Discussion Papers
We consider the market value of excess demand as a measure of disequilibrium. We show that, in a fixed exchange economy, there exist approximate equilibria whose measures of disequilibrium depend only on the endowments and not on the preferences. A related bound on the norm of excess demand, depending on the endowments and the approximate equilibrium price, is also obtained. We show the existence of allocations which are nearly competitive, as measured by the largest proportion of demand given up at the allocation by any trader. We use these results to obtain, for very general sequences of exchange economies, allocations …
Housing Market With Indivisibility, Mamoru Kaneko
Housing Market With Indivisibility, Mamoru Kaneko
Cowles Foundation Discussion Papers
In this paper we present a model of rental housing market in which houses are treated as indivisible commodities. We provide a recursive equation which determines a competitive equilibrium and argue that we can regard the competitive equilibrium as a representative of the set of all competitive equilibria. Using this representative equilibrium, we provide several propositions on comparative statics, that is, we consider how the competitive rents change when certain parameters of the model change.
A Necessary And Sufficient Condition For The Nonemptiness Of The Cores Of Partitioning Games, Mamoru Kaneko
A Necessary And Sufficient Condition For The Nonemptiness Of The Cores Of Partitioning Games, Mamoru Kaneko
Cowles Foundation Discussion Papers
Let N be a finite set of players and let ρ be a class of coalitions of N. We consider games with and without sidepayments such that only the coalitions in pi play essential roles but not the others. For an arbitrary ρ, we get the class of all such games. The purpose of this note is to provide a necessary and sufficient condition with respect to pi for the nonemptiness of the cores of all games in the class.
Solution And Maximum Likelihood Estimation Of Dynamic Nonlinear Rational Expectations Models, Ray C. Fair, John B. Taylor
Solution And Maximum Likelihood Estimation Of Dynamic Nonlinear Rational Expectations Models, Ray C. Fair, John B. Taylor
Cowles Foundation Discussion Papers
No abstract provided.
The Central Assignment Game And The Assignment Markets, Mamoru Kaneko
The Central Assignment Game And The Assignment Markets, Mamoru Kaneko
Cowles Foundation Discussion Papers
Initially we prove the nonemptiness of the core of an n-person game without side payments called a central assignment game. Next, we provide a market model with indivisible goods but without the transferable utility assumption. Applying the first result to the market model, we prove the nonemptiness of the core and the existence of a competitive equilibrium. Finally, we provide a generalization of the market model and also show the nonemptiness of the core and the existence of a competitive equilibrium using the results in the previous model.
Thinking About Carbon Dioxide: Theoretical And Empirical Aspects Of Optimal Control Strategies, William D. Nordhaus
Thinking About Carbon Dioxide: Theoretical And Empirical Aspects Of Optimal Control Strategies, William D. Nordhaus
Cowles Foundation Discussion Papers
The scientific and policy discussion about the CO2 problem can be divided into three different parts: (a) understanding the carbon cycle and climatic effects of CO2 elevation; (b) understanding the economic and social impacts of CO2 and estimating abatement strategies; and (c) weighing the costs and benefits in (a) and (b) to set appropriate policies. Up to now, almost all scientific work has gone into (a); a handful of papers discusses (b); but there have been no attempts to pursue (c), that is to weigh scientific and economic evidence so as to give guidance on national or global policies. The …
On A Lemma Of Amemiya, Peter C.B. Phillips
On A Lemma Of Amemiya, Peter C.B. Phillips
Cowles Foundation Discussion Papers
No abstract provided.
Distribution, Peter C.B. Phillips
Distribution, Peter C.B. Phillips
Cowles Foundation Discussion Papers
Formulae that are given in the literature for the characteristic function of the F distribution are incorrect and imply that the distribution has finite moments of all orders. Correct formulae are derived and the asymptotic behavior of the characteristic function in the neighborhood of the origin is characterized.