作者：Ellingsen, Tore; Ostling, Robert
作者单位：Stockholm School of Economics; Stockholm University
摘要：We study costless pre-play communication of intentions among inexperienced players. Using the level-k model of strategic thinking to describe players' beliefs, we fully characterize the effects of preplay communication in symmetric 2 x 2 games. One-way communication weakly increases coordination on Nash equilibrium outcomes, although average payoffs sometimes decrease. Two-way communication further improves payoffs in some games but is detrimental in others. Moving beyond the class of symmetri...
作者：Leon-Ledesma, Miguel A.; McAdam, Peter; Willman, Alpo
作者单位：University of Kent; European Central Bank
摘要：The capital-labor substitution elasticity and technical biases in production are critical parameters. The received wisdom claims their joint identification is infeasible. We challenge that interpretation. Putting the new approach of normalized production functions at the heart of a Monte Carlo analysis we identify the conditions under which identification is feasible and robust. The key result is that jointly modeling the production function and first-order conditions is superior to single-equ...
