2002

最新文章

• Comparative statics by adaptive dynamics and the correspondence principle AI翻译
  作者：Echenique, F
  作者单位：Universidad Torcuato Di Tella
• Identification of standard auction models AI翻译
  作者：Athey, S; Haile, PA
  作者单位：Stanford University; University of Wisconsin System; University of Wisconsin Madison
  摘要：This paper presents new identification results for models of first-price, second-price, ascending (English), and descending (Dutch) auctions. We consider a general specification of the latent demand and information structure, nesting both private values and common values models, and allowing correlated types as well as ex ante asymmetry. We address identification of a series of nested models and derive testable restrictions enabling discrimination between models on the basis of observed data. ...
• Testing Lorenz curves with non-simple random samples AI翻译
  作者：Zheng, BH
  作者单位：University of Colorado System; University of Colorado Denver
• Multiple referrals and multidimensional cheap talk AI翻译
  作者：Battaglini, M
  摘要：In previous work on cheap talk, uncertainty has almost always been modeled using a single-dimensional state variable. In this paper we prove that the dimensionality of the uncertain variable has an important qualitative impact on results and yields interesting insights into the mechanics of information transmission. Contrary to the unidimensional case, if there is more than one sender, full revelation of information in all states of nature is generically possible, even when the conflict of int...
• A fractional Dickey-Fuller test for unit roots AI翻译
  作者：Dolado, JJ; Gonzalo, J; Mayoral, L
  作者单位：Universidad Carlos III de Madrid
  摘要：This paper presents a new test for fractionally integrated (FI) processes. In particular, we propose a testing procedure in the time domain that extends the well-known Dickey-Fuller approach, originally designed for the I(1) versus I(0) case, to the more general setup of FI(d(0)) versus FI(d(1)), with d(1) < d(0). When d(0) = 1, the proposed test statistics are based on the OLS estimator, or its t-ratio, of the coefficient on Delta(d1)y(t-1) in a regression of Deltay(t) on Delta(d1)y(t-1) and,...
• Nonparametric estimation with nonlinear budget sets AI翻译
  作者：Blomquist, S; Newey, W
  作者单位：Uppsala University; Massachusetts Institute of Technology (MIT)
  摘要：Choice models with nonlinear budget sets provide a precise way of accounting for the nonlinear tax structures present in many applications. In this paper we propose a nonparametric approach to estimation of these models. The basic idea is to think of the choice, in our case hours of labor supply, as being a function of the entire budget set. Then we can do nonparametric regression where the variable in the regression is the budget set. We reduce the dimensionality of this problem by exploiting...
• Ambiguity, risk, and asset returns in continuous time AI翻译
  作者：Chen, ZJ; Epstein, L
  作者单位：Universite PSL; Universite Paris-Dauphine
  摘要：Models of utility in stochastic continuous-time settings typically assume that beliefs are represented by a probability measure, hence ruling out a priori any concern with ambiguity. This paper formulates a continuous-time intertemporal version of multiple-priors utility, where aversion to ambiguity is admissible. In a representative agent asset market setting, the model delivers restrictions on excess returns that admit interpretations reflecting a premium for risk and a separate premium for ...
• Architecture of power markets AI翻译
  作者：Wilson, R
  摘要：Liberalization of infrastructure industries presents classic economic issues about how organization and procedure affect market performance. These issues are examined in wholesale power markets. The perspective from game theory complements standard economic theory to examine effects on efficiency and incentives.
• Spatial price competition: A semiparametric approach AI翻译
  作者：Pinske, J; Slade, ME; Brett, C
  作者单位：University of British Columbia; University of London; Royal Holloway University London
  摘要：We investigate the nature of price competition among firms that produce differentiated products and compete in markets that are limited in extent. We propose an instrumental variables series estimator for the matrix of cross price response coefficients, demonstrate that our estimator is consistent, and derive its asymptotic distribution. Our semiparametric approach allows us to discriminate among models of global competition, in which all products compete with all others, and local competition...
• On the value of competition in procurement auctions AI翻译
  作者：Compte, O; Jehiel, P
  作者单位：Centre National de la Recherche Scientifique (CNRS); Institut Polytechnique de Paris; Ecole des Ponts ParisTech; University of London; University College London