Econometrica

最新文章

• Short run and long run causality in time series: Theory AI翻译
  作者：Dufour, JM; Renault, E
  作者单位：Universite de Montreal; Universite de Montreal; Institut Polytechnique de Paris; ENSAE Paris
  摘要：Causality in the sense of Granger is typically defined in terms of predictibility of a vector of variables one period ahead. Recently, Lutkepohl (1993) proposed to define noncausality between two variables in terms of nonpredictibility at any number of periods ahead. When more than two vectors are considered (i.e., when the information set contains auxiliary variables), these two notions are not equivalent. In this paper, we first generalize the notion of causality by considering causality at ...
• Efficient semiparametric estimation of expectations AI翻译
  作者：Brown, BW; Newey, WK
  作者单位：Rice University; Massachusetts Institute of Technology (MIT)
• Communication in repeated games with imperfect private monitoring AI翻译
  作者：Compte, O
  作者单位：Institut Polytechnique de Paris; Ecole des Ponts ParisTech
  摘要：This paper examines repeated games in which each player observes a private and imperfect signal on the actions played, and in which players are allowed to communicate using public messages. Providing incentives for players to reveal their observations generates (revelation) constraints that, combined with signal imperfections, may be a source of inefficiencies. However, by delaying the revelation of their observations, players may economize on the cost of deterring deviations, and thereby avoi...
• Efficiency and voluntary implementation in markets with repeated pairwise bargaining AI翻译
  作者：Jackson, MO; Palfrey, TR
  作者单位：California Institute of Technology
  摘要：We examine a simple bargaining setting, where heterogeneous buyers and sellers are repeatedly matched with each other. We begin by characterizing efficiency in such a dynamic setting, and discuss how it differs from efficiency in a centralized static setting. We then study the allocations which can result in equilibrium when the matched buyers and sellers bargain through some extensive game form. We take an implementation approach? characterizing the possible allocation rules which result as t...
• Maximization and the act of choice AI翻译
  作者：Sen, A
  摘要：The act of choosing can have particular relevance in maximizing behavior for at least two distinct reasons: (1) process significance (preferences may be sensitive to the choice process, including the identity of the chooser), and (2) decisional inescapability (choices may have to be made whether or not the judgemental process has been completed). The general approach of maximizing behavior can - appropriately formulated - accommodate both concerns, but the regularities of choice behavior assum...
• A semiparametric maximum likelihood estimator AI翻译
  作者：Ai, CR
  摘要：This paper presents a procedure for analyzing a model in which the parameter vector has two parts: a finite-dimensional component theta and a nonparametric component lambda. The procedure does not require parametric modeling of lambda but assumes that the true density of the data satisfies an index restriction. The idea is to construct a parametric model passing through the true model and to estimate theta by setting the score for the parametric model to zero. The score is estimated nonparamet...
• Statistical inference for the measurement of the incidence of taxes and transfers AI翻译
  作者：Davidson, R; Duclos, JY
  作者单位：Laval University; Laval University
• Research, patenting, and technological change AI翻译
  作者：Kortum, SS
  作者单位：National Bureau of Economic Research
  摘要：This paper develops a search-theoretic model of technological change that accounts for some puzzling trends in industrial research, patenting, and productivity growth. In the model, researchers sample from probability distributions of potential new production techniques. Past research generates a technological frontier representing the best techniques for producing each good in the economy. Technological breakthroughs, resulting in patents, become increasingly hard to find as the technological...
• The ''devil's horns'' problem of inverting confluent characteristic functions AI翻译
  作者：Abadir, KM; Rockinger, M
  作者单位：University of York - UK; Hautes Etudes Commerciales (HEC) Paris
• Rational route to randomness AI翻译
  作者：Brock, WA; Hommes, CH
  作者单位：Vrije Universiteit Amsterdam; University of Amsterdam
  摘要：The concept of adaptively rational equilibrium (A.R.E.) is introduced. Agents adapt their beliefs over time by choosing from a finite set of different predictor or expectations functions. Each predictor is a function of past observations and has a performance or fitness measure which is publicly available. Agents make a rational choice concerning the predictors based upon their past performance. This results in a dynamics across predictor choice which is coupled to the equilibrium dynamics of ...