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作者：Mahajan, A
作者单位：Stanford University
摘要：This paper studies the problem of identification and estimation in nonparametric regression models with a misclassified binary regressor where the measurement error may be correlated with the regressors. We show that the regression function is nonparametrically identified in the presence of an additional random variable that is correlated with the unobserved true underlying variable but unrelated to the measurement error. Identification for serniparametric and parametric regression functions f...
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作者：Atakan, AE
作者单位：Northwestern University
摘要：In this paper, I analyze a decentralized search and matching economy with transferable utility composed of heterogeneous agents. I explore whether Becker's assortative matching result generalizes to an economy where agents engage in costly search. In an economy with explicit additive search costs, complementarities in joint production (supermodularity of the joint production function) lead to assortative matching. This is in contrast to previous literature, which had shown that in a search eco...
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作者：Garrat, R; Tröger, T
作者单位：University of California System; University of California Santa Barbara; University of Bonn
摘要：In standard auctions resale creates a role for a speculator-a bidder who is commonly known to have no use value for the good on sale. We study this issue in environments with symmetric independent private-value bidders. For second-price and English auctions the efficient value-bidding equilibrium coexists with a continuum of inefficient equilibria in which the speculator wins the auction and makes positive profits. First-price and Dutch auctions have an essentially unique equilibrium, and whet...
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作者：Andrews, DWK; Moreira, MJ; Stock, JH
作者单位：Yale University; Harvard University
摘要：This paper considers tests of the parameter on an endogenous variable in an instrumental variables regression model. The focus is on determining tests that have some optimal power properties. We start by considering a model with normally distributed errors and known error covariance matrix. We consider tests that are similar and satisfy a natural rotational invariance condition. We determine a two-sided power envelope for invariant similar tests. This allows us to assess and compare the power ...
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作者：Jehiel, P; Meyer-Ter-Vehn, M; Moldovanu, B; Zame, WR
作者单位：University of London; University College London; University of Bonn
摘要：The sensitivity of Bayesian implementation to agents' beliefs about others suggests the use of more robust notions of implementation such as ex post implementation, which requires that each agent's strategy be optimal for every possible realization of the types of other agents. We show that the only deterministic social choice functions that are ex post implementable in generic mechanism design frameworks with multidimensional signals, interdependent valuations, and transferable utilities arc ...
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作者：Hong, CS; Sagi, JS
作者单位：Hong Kong University of Science & Technology; National University of Singapore; University of California System; University of California Berkeley
摘要：Building on the Ramsey-de Finetti idea of event exchangeability, we derive a characterization of probabilistic sophistication without requiring any of the various versions of monotonicity, continuity, or comparative likelihood assumptions imposed by Savage (1954), Machina and Schrneidler (1992), and Grant (1995). Our characterization identifies a unique and finitely-additive subjective probability measure over an algebra of events.
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作者：Honore, BE; Tamer, E
作者单位：Princeton University; Northwestern University
摘要：Identification of dynamic nonlinear panel data models is an important and delicate problem in econometrics. In this paper we provide insights that shed light on the identification of parameters of some commonly used models. Using these insights, we are able to show through simple calculations that point identification often fails in these models. On the other hand, these calculations also suggest that the model restricts the parameter to lie in a region that is very small in many cases, and th...
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作者：Christopeit, N; Hoderlein, SGN
作者单位：University of Bonn; University of Mannheim
摘要：In this paper, we introduce a kernel-based estimation principle for nonparametric models named local partitioned regression (LPR). This principle is a nonparametric generalization of the familiar partition regression in linear models. It has several key advantages: First, it generates estimators for a very large class of semi- and nonparametric models. A number of examples that are particularly relevant for economic applications will be discussed in this paper. This class contains the additive...
