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Results 1 - 10
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15,911
A General Theory of Equilibrium Selection in Games.
, 1988
"... Abstract This paper presents a Downsian model of political competition in which parties have incomplete but richer information than voters on policy effects. Each party can observe a private signal of the policy effects, while voters cannot. In this setting, voters infer the policy effects from the ..."
Abstract
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Cited by 734 (4 self)
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Abstract This paper presents a Downsian model of political competition in which parties have incomplete but richer information than voters on policy effects. Each party can observe a private signal of the policy effects, while voters cannot. In this setting, voters infer the policy effects from
Worst-case equilibria
- IN PROCEEDINGS OF THE 16TH ANNUAL SYMPOSIUM ON THEORETICAL ASPECTS OF COMPUTER SCIENCE
, 1999
"... In a system in which noncooperative agents share a common resource, we propose the ratio between the worst possible Nash equilibrium and the social optimum as a measure of the effectiveness of the system. Deriving upper and lower bounds for this ratio in a model in which several agents share a ver ..."
Abstract
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Cited by 847 (17 self)
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In a system in which noncooperative agents share a common resource, we propose the ratio between the worst possible Nash equilibrium and the social optimum as a measure of the effectiveness of the system. Deriving upper and lower bounds for this ratio in a model in which several agents share a
National debt in a neoclassical growth model.'
- American Economic Review,
"... This paper contains a model designed to serve two purposes, to examine long-run competitive equilibrium in a growth model and then to explore the effects on this equilibrium of government debt. Samuelson [8] has examined the determination of interest rates in a singlecommodity world without durable ..."
Abstract
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Cited by 698 (0 self)
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This paper contains a model designed to serve two purposes, to examine long-run competitive equilibrium in a growth model and then to explore the effects on this equilibrium of government debt. Samuelson [8] has examined the determination of interest rates in a singlecommodity world without
The impact of trade on Intra-Industry reallocations and aggregate industry productivity.
- Econometrica,
, 2003
"... This paper develops a dynamic industry model with heterogeneous firms to analyze the intra-industry effects of international trade. The model shows how the exposure to trade will induce only the more productive firms to enter the export market (while some less productive firms continue to produce o ..."
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Cited by 1584 (22 self)
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This paper develops a dynamic industry model with heterogeneous firms to analyze the intra-industry effects of international trade. The model shows how the exposure to trade will induce only the more productive firms to enter the export market (while some less productive firms continue to produce
A model of growth through creative destruction
, 1990
"... This paper develops a model based on Schumpeter's process of creative destruction. It departs from existing models of endogeneous growth in emphasizing obsolescence of old technologies induced by the accumulation of knowledge and the resulting process or industrial innovations. This has both ..."
Abstract
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Cited by 1941 (27 self)
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a tendency for laissez-faire economies to generate too many innovations, i.e too much growth. This "business-stealing" effect is partly compensated by the fact that innovations tend to be too small under laissez-faire. The model possesses a unique balanced growth equilibrium in which
On estimating the expected return on the market -- an exploratory investigation
- JOURNAL OF FINANCIAL ECONOMICS
, 1980
"... The expected market return is a number frequently required for the solution of many investment and corporate tinance problems, but by comparison with other tinancial variables, there has been little research on estimating this expected return. Current practice for estimating the expected market retu ..."
Abstract
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Cited by 490 (3 self)
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return adds the historical average realized excess market returns to the current observed interest rate. While this model explicitly reflects the dependence of the market return on the interest rate, it fails to account for the effect of changes in the level of market risk. Three models of equilibrium
Non equilibrium effects in fragmentation
, 2001
"... We study, using molecular dynamics techniques, how boundary conditions affect the process of fragmentation of finite, highly excited, Lennard-Jones systems. We analyze the behavior of the caloric curves (CC), the associated thermal response functions (TRF) and cluster mass distributions for constrai ..."
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for constrained and unconstrained hot drops. It is shown that the resulting CC’s for the constrained case differ from the one in the unconstrained case, mainly in the presence of a “vapor branch”. This branch is absent in the free expanding case even at high energies. This effect is traced to the role played
Endogenously Chosen Boards of Directors and Their Monitoring of the CEO
- AMERICAN ECONOMIC REVIEW
, 1998
"... This paper develops a model in which the effectiveness of the board's monitoring of the CEO depends on the board's structure or composition. The independence of new directors is determined through a bargaining process between the existing directors and the CEO. The CEO's bargaining po ..."
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Cited by 444 (18 self)
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This paper develops a model in which the effectiveness of the board's monitoring of the CEO depends on the board's structure or composition. The independence of new directors is determined through a bargaining process between the existing directors and the CEO. The CEO's bargaining
AN ESTIMATED STOCHASTIC DYNAMIC GENERAL EQUILIBRIUM MODEL OF THE EURO AREA
, 2002
"... This paper develops and estimates a stochastic dynamic general equilibrium (SDGE) model with sticky prices and wages for the euro area. The model incorporates various other features such as habit formation, costs of adjustment in capital accumulation and variable capacity utilisation. It is estimate ..."
Abstract
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Cited by 363 (11 self)
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This paper develops and estimates a stochastic dynamic general equilibrium (SDGE) model with sticky prices and wages for the euro area. The model incorporates various other features such as habit formation, costs of adjustment in capital accumulation and variable capacity utilisation
Results 1 - 10
of
15,911
