-
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.
-
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...
-
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
-
作者：Dahl, GB
作者单位：University of Rochester
摘要：Self-selected migration presents one potential explanation for why observed returns to a college education in local labor markets vary widely even though U.S. workers are highly mobile. To assess the impact of self-selection on estimated returns, this paper first develops a Roy model of mobility and earnings where workers choose in which of the 50 states (plus the District of Columbia) to live and work. Available estimation methods are either infeasible for a selection model with so many alter...
-
作者：Hu, LJ
作者单位：Northwestern University; Northwestern University
-
作者：Marinacci, M
作者单位：University of Turin
-
作者：Andrews, DWK
作者单位：Yale University
摘要：This paper establishes the higher-order equivalence of the k-step bootstrap, introduced recently by Davidson and MacKinnon (1999), and the standard bootstrap. The k-step bootstrap is a very attractive alternative computationally to the standard bootstrap for statistics based on nonlinear extremum estimators, such as generalized method of moment and maximum likelihood estimators. The paper also extends results of Hall and Horowitz (1996) to provide new results regarding the higher-order improve...
-
作者：Hofbauer, J; Sandholm, WH
作者单位：University of Vienna; University of Wisconsin System; University of Wisconsin Madison
摘要：We establish global convergence results for stochastic fictitious play for four classes of games: games with an interior ESS, zero sum games, potential games, and supermodular games. We do so by appealing to techniques from stochastic approximation theory, which relate the limit behavior of a stochastic process to the limit behavior of a differential equation defined by the expected motion of the process. The key result in our analysis of supermodular games is that the relevant differential eq...
-
作者：Hirano, K
作者单位：University of California System; University of California Los Angeles; University of Miami
-
作者：Rust, J; Traub, JF; Wozniakowski, H
作者单位：University System of Maryland; University of Maryland College Park; University System of Maryland; University of Maryland College Park; University of Warsaw; Columbia University
摘要：This paper analyzes the complexity of the contraction fixed point problem: compute an epsilon-approximation to the fixed point V* = Gamma(V*) of a contraction mapping Gamma that maps a Banach space B-d of continuous functions of d variables into itself. We focus on quasi linear contractions where Gamma is a nonlinear functional of a finite number of conditional expectation operators. This class includes contractive Fredholm integral equations that arise in asset pricing applications and the co...
