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作者：Jackson, MO; Swinkels, JM
作者单位：California Institute of Technology; Washington University (WUSTL)
摘要：We show existence of equilibria in distributional strategies for a wide class of private value auctions, including the first general existence result for double auctions. The set of equilibria is invariant to the tie-breaking rule. The model incorporates multiple unit demands, all standard pricing rules, reserve prices, entry costs, and stochastic demand and supply. Valuations can be correlated and asymmetrically distributed. For double auctions, we show further that at least one equilibrium i...
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作者：Arcidiacono, P
作者单位：Duke University
摘要：This paper addresses how changing the admission and financial aid rules at colleges affects future earnings. I estimate a structural model of the following decisions by individuals: where to submit applications, which school to attend, and what field to study. The model also includes decisions by schools as to which students to accept and how much financial aid to offer. Simulating how black educational choices would change were they to face the white admission and aid rules shows that race-ba...
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作者：Nishiyama, Y; Robinson, PM
作者单位：Kyoto University; University of London; London School Economics & Political Science
摘要：In a number of semiparametric models, smoothing seems necessary in order to obtain estimates of the parametric component which are asymptotically normal and converge at parametric rate. However, smoothing can inflate the error in the normal approximation, so that refined approximations are of interest, especially in sample sizes that are not enormous. We show that a bootstrap distribution achieves a valid Edgeworth correction in the case of density-weighted averaged derivative estimates of sem...
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作者：Fréchette, G; Kagel, JH; Morelli, M
作者单位：New York University; University System of Ohio; Ohio State University; University System of Ohio; Ohio State University
摘要：Alternating-offer and demand bargaining models of legislative bargaining make very different predictions in terms of both ex ante and ex post distribution of payoffs, as well as in the role of the order of play. The experiment shows that actual bargaining behavior is not as sensitive to the different bargaining rules as the theoretical point predictions, whereas the comparative statics are in line with both models. We compare our results to studies that attempt to distinguish between these two...
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作者：Billot, A; Gilboa, I; Samet, D; Schmeidler, D
作者单位：Universite Paris-Pantheon-Assas; Institut Polytechnique de Paris; Ecole des Ponts ParisTech; Tel Aviv University; Yale University; University System of Ohio; Ohio State University
摘要：A decision maker is asked to express her beliefs by assigning probabilities to certain possible states. We focus on the relationship between her database and her beliefs. We show that if beliefs given a union of two databases are a convex combination of beliefs given each of the databases, the belief formation process follows a simple formula: beliefs are a similarity-weighted average of the beliefs induced by each past case.
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作者：Bergemann, D; Morris, S
作者单位：Yale University; Princeton University
摘要：The mechanism design literature assumes too much common knowledge of the environment among the players and planner. We relax this assumption by studying mechanism design on richer type spaces. We ask when ex post implementation is equivalent to interim (or Bayesian) implementation for all possible type spaces. The equivalence holds in the case of separable environments; examples of separable environments arise (1) when the planner is implementing a social choice function (not correspondence) a...
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作者：Chesher, A
作者单位：University of London; University College London; London School Economics & Political Science; University of London; University College London
摘要：This paper provides weak conditions under which there is nonparametric interval identification of local features of a structural function that depends on a discrete endogenous variable and is nonseparable in latent variates. The function delivers values of a discrete or continuous outcome and instruments may be discrete valued. Application of the analog principle leads to quantile regression based interval estimators of values and partial differences of structural functions. The results are us...
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作者：Rivkin, SG; Hanushek, EA; Kain, JF
作者单位：Amherst College; Stanford University; University of Texas System; University of Texas Dallas
摘要：This paper disentangles the impact of schools and teachers in influencing achievement with special attention given to the potential problems of omitted or mismeasured variables and of student and school selection. Unique matched panel data from the UTD Texas Schools Project permit the identification of teacher quality based on student performance along with the impact of specific, measured components of teachers and schools. Semiparametric lower bound estimates of the variance in teacher quali...
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作者：Klibanoff, P; Marinacci, M; Mukerji, S
作者单位：Northwestern University; University of Turin; University of Turin
摘要：We propose and characterize a model of preferences over acts such that the decision maker prefers act f to act g if and only if E-mu phi (E(pi)u circle f) >= E-mu phi (E(pi)u circle g), where E is the expectation operator, u is a von Neumann-Morgenstern utility function, phi is an increasing transformation, and mu is a subjective probability over the set Pi of probability measures pi that the decision maker thinks are relevant given his subjective information. A key feature of our model is tha...
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作者：Hong, YM; White, H
作者单位：Cornell University; Cornell University; Tsinghua University; University of California System; University of California San Diego
摘要：Entropy is a classical statistical concept with appealing properties. Establishing asymptotic distribution theory for smoothed nonparametric entropy measures of dependence has so far proved challenging. In this paper, we develop an asymptotic theory for a class of kernel-based smoothed nonparametric entropy measures of serial dependence in a time-series context. We use this theory to derive the limiting distribution of Granger and Lin's (1994) normalized entropy measure of serial dependence, w...
