Search
Now showing items 601-610 of 645
On Purification of Equilibrium in Bayesian Games and Ex-Post Nash Equilibrium
(Vanderbilt University, 2005)
Kalai (2002) demonstrates that in semi anonymous Bayesian games with sufficiently many players any Bayesian equilibrium is approximately ex-post Nash. In this paper we demonstrate that the existence of an approximate expost ...
On Kolm's Use of Epistemic Counterfactuals in Social Choice Theory
(Vanderbilt University, 2005)
Serge Kolm's "epistemic counterfactual principle" says that a social choice only needs to be made from the actual feasible set of alternatives given the actual preference profile, but it must be justified by the choices ...
Inflation, Government Transfers, and Optimal Central Bank Independence
(Vanderbilt University, 2005)
The problem of monetary policy delegation is formulated as a two-stage non-cooperative game between the government and the central bank. The solution to this policy game determines the optimal combination of central bank ...
Open Scholarship and Research Universities
(Vanderbilt University, 2005)
Compare the cost per article for publication in commercial journals, not-profit journals, and open-access journals. For universities that support open-archives and open-access journal management software as part of standard ...
Implementing the Friedman Rule by a Government Loan Program: An Overlapping Generations Model
(Vanderbilt University, 2008)
The welfare gains from adopting a zero nominal interest policy depend on the implementation details. Here I argue that implementing the Friedman rule by a government loan program may be better than implementing it by ...
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 ...
Substitution, Risk Aversion and Asset Prices: An Expected Utility Approach
(Vanderbilt University, 2008)
The standard power utility function is widely used to explain asset prices. It assumes that the coefficient of relative risk aversion is the inverse of the elasticity of substitution. Here I use the Kihlstrom and Mirman ...
A Revelation Principle for Dominant Strategy Implementation
(Vanderbilt University, 2008)
We introduce a perfect price discriminating (PPD) mechanism for allocation problems with private information. A PPD mechanism treats a seller, for example, as a perfect price discriminating monopolist who faces a price ...
Can You Earn a Ph.D. in Economics in Five Years?
(Vanderbilt University, 2008)
We investigate which of the students who entered economics Ph.D. programs in fall 2002 were more likely to earn a Ph.D. within five years, and which were more likely to have dropped out. Students enrolled in Top-15 ranked ...