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VU GeoNews 2003
(Vanderbilt University, 2003-11)
Exposé and Excess
(Oxford University Press, 2003)
Markets, Torts and Social Inefficiency
(Vanderbilt University, 2003)
In this paper we examine the nexus between product markets and the legal system. We examine a model wherein oligopolists produce differentiated products that also have a safety attribute. Consumption of these products may ...
Nonparametric Neural Network Estimation of Lyapunov Exponents and a Direct Test for Chaos
(Vanderbilt University, 2003)
This paper derives the asymptotic distribution of the nonparametric neural network estimator of the Lyapunov exponent in a noisy system. Positivity of the Lyapunov exponent is an operational definition of chaos. We introduce ...
Multi-Agent Bilateral Bargaining and the Nash Bargaining Solution
(Vanderbilt University, 2003)
This paper studies a bargaining model where n players play a sequence of (n-1) bilateral bargaining sessions. In each bilateral bargaining session, two players follow the same bargaining process as in Rubinstein's (1982). ...
Multi-Agent Bilateral Bargaining with Endogenous Protocol
(Vanderbilt University, 2003)
Consider a multilateral bargaining problem where negotiation is conducted by a sequence of bilateral bargaining sessions. We are interested in an environment where bargaining protocols are determined endogenously. During ...
The Labor Market Effects of the 1960s Riots
(Vanderbilt University, 2003)
Between 1964 and 1971, hundreds of riots erupted in American cities, resulting in large numbers of injuries, deaths, and arrests, as well as in considerable property damage that was concentrated in predominantly black ...
Independent Monetary Policies and Social Equality
(Vanderbilt University, 2003)
The problem of monetary policy delegation is formulated as a two-stage game between the government and the central bank. In the first stage the government chooses the institutional design of the central bank. Monetary and ...
The Housing Market Impact of State-Level Anti-Discrimination Laws
(Vanderbilt University, 2003)
This paper measures the housing market impact of state-level anti-discrimination laws in the 1960s using household-level and census-tract data. State-level "fair-housing" laws attempted to bar discrimination on the basis ...
Merging Auction Houses
(Vanderbilt University, 2003)
In this paper, we study the incentives for market concentration of (online and traditional) auction houses. Would sellers and buyers be better off if two separate auction houses merged? We suppose that each auction house ...