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作者：Weinstein, Jonathan; Yildiz, Muhamet
作者单位：Northwestern University; Massachusetts Institute of Technology (MIT)
摘要：Rationalizability is a central solution concept of game theory. Economic models often have many rationalizable outcomes, motivating economists to use refinements of rationalizabitity, including equilibrium refinements. In this paper we try to achieve a general understanding of when this multiplicity occurs and how one should deal with it. Assuming that the set of possible payoff functions and belief structures is sufficiently rich, we establish a revealing structure of the correspondence of be...
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作者：Lobato, Ignacio N.; Velasco, Carlos
作者单位：Instituto Tecnologico Autonomo de Mexico; Universidad Carlos III de Madrid
摘要：In this article we introduce efficient Wald tests for testing the null hypothesis of the unit root against the alternative of the fractional unit root. In a local alternative framework, the proposed tests are locally asymptotically equivalent to the optimal Robinson Lagrange Multiplier tests. Our results contrast with the tests for fractional unit roots, introduced by Dolado, Gonzalo, and Mayoral, which are inefficient. In the presence of short range serial correlation, we propose a simple and...
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作者：Dekel, Eddie; Lipman, Barton L.; Rustichini, Aldo; Sarver, Todd
作者单位：Northwestern University; Tel Aviv University; Boston University; University of Minnesota System; University of Minnesota Twin Cities
摘要：Dekel, Lipman and Rustichini (2001) (henceforth DER) axiomatically characterized three representations of preferences that allow for a desire for flexibility and/or commitment. In one of these representations (ordinal expected utility), the independence axiom is stated in a weaker form than is necessary to obtain the representation; in another (additive expected utility), the continuity axiom is too weak. In this erratum we provide examples showing that the axioms used by DLR are not sufficien...
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作者：Lewbel, Arthur
作者单位：Boston College
摘要：This paper considers identification and estimation of the effect of a mismeasured binary regressor in a nonparametric or serniparametric regression, or the conditional average effect of a binary treatment or policy on some outcome where treatment may be misclassified. Failure to account for misclassification is shown to result in attenuation bias in the estimated treatment effect. An identifying assumption that overcomes this bias is the existence of an instrument for the binary regressor that...
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作者：Harrison, Glenn W.; List, John A.; Towe, Charles
作者单位：State University System of Florida; University of Central Florida; University of Chicago; University System of Maryland; University of Maryland College Park
摘要：Does individual behavior in a laboratory setting provide a reliable indicator of behavior in a naturally occurring setting? We consider this general methodological question in the context of eliciting risk attitudes. The controls that are typically employed in laboratory settings, such as the use of abstract lotteries, could lead subjects to employ behavioral rules that differ from the ones they employ in the field. Because it is field behavior that we are interested in understanding, those co...
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作者：Blundell, Richard; Gosling, Amanda; Ichimura, Hidehiko; Meghir, Costas
作者单位：University of London; University College London; University of London; London School Economics & Political Science; University of Kent; Centre for Economic Policy Research - UK; University of Tokyo; University of Tokyo
摘要：This paper examines changes in the distribution of wages using bounds to allow for the impact of nonrandom selection into work. We show that worst case bounds can be informative. However, because employment rates in the United Kingdom are often low, they are not informative about changes in educational or gender wage differentials. Thus we explore ways to tighten these bounds using restrictions motivated from economic theory. With these assumptions, we find convincing evidence of all increase ...
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作者：Qu, Zhongjun; Perron, Pierre
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; Boston University
摘要：This paper considers issues related to estimation, inference, and computation with multiple structural changes that occur at unknown dates in a system of equations. Changes can occur in the regression coefficients and/or the covariance matrix of the errors. We also allow arbitrary restrictions on these parameters, which permits the analysis of partial structural change models, common breaks that occur in all equations, breaks that occur in a subset of equations, and so forth. The method of est...
