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Now showing items 21-30 of 37
Conformity, Equity and Correlated Equilibrium
(Vanderbilt University, 2008)
We explore the potential for correlated equilibrium to capture conformity to norms and the coordination of behavior within social groups. Given a partition of players into social groups we propose three properties one may ...
Anonymous Price Taking Equilibrium in Tiebout Economies with a Continuum of Agents: Existence and Characterization
(Vanderbilt University, 2008)
We introduce a model of a local public goods economy with a continuum of agents and jurisdictions with finite, but unbounded populations, where the set of possible projects for each jurisdiction/club is unrestricted in ...
Accounting for Persistence and Volatility of Good-Level Real Exchange Rates: The Role of Sticky Information'
(Vanderbilt University, 2008)
Volatile and persistent real exchange rates are observed not only in aggregate series but also in the individual good level data. Kehoe and Midrigan (2007) recently showed that, under a standard assumption on nominal price ...
Privacy, Publicity, and Choice
(Vanderbilt University, 2008)
We develop and explore a new model of the economics of privacy. Previous work has focused on "privacy of type," wherein an agent privately knows an immutable characteristic. We consider "privacy of action," wherein privacy ...
Behavioral Properties of Correlated Equilibrium;Social Group Structures with Conformity and Stereotyping
(Vanderbilt University, 2008)
We explore the potential for correlated equilibrium to capture conformity to norms and the coordination of behavior within social groups. Given a partition of players into social groups we propose properties that one may ...
Trimmed Strategies: Achieving Sequentially Rational Equilibria with only Partially Specified Strategies
(Vanderbilt University, 2008)
Both subgame-perfect equilibrium and weak-perfect Bayesian equilibrium impose rationality at information sets that are irrelevant for a sequentially rational outcome. In this paper, for each of these equilibrium concepts, ...
Strategic Nonlinear Income Tax Competition with Perfect Labor Mobility
(Vanderbilt University, 2008)
The Nash equilibria of a tax-setting game between two governments who can set nonlinear income tax schedules for a perfectly mobile workforce whose members differ in unobserved skill levels are examined. Each government ...
Settlement
(Vanderbilt University, 2008)
This survey of the modeling of pretrial settlement bargaining organizes current main themes and recent developments. The basic concepts used are outlined as core models and then several variations on these core models are ...
Inflation Targeting in Canada: An Expected Loss Analysis in a DSGE Model with Trade Costs
(Vanderbilt University, 2008)
This paper develops an open economy DSGE model with an emphasis on trade costs to evaluate the performance of the Bank of Canada in the Canadian inflation targeting experience. For model parametrization, the New-Keynesian ...
An Analysis of Fiscal Policy with Endogenous Investment-Specific Technological Change
(Vanderbilt University, 2008)
The effects of distortional fiscal policies are studied within a model in which there is endogenous investment-specific technological change. Labor is used in the production of output and also for research purposes. Labor ...