We analyze games of incomplete information and offer equilibrium predictions which are valid for all possible private information structures that the agents may have. Our characterization of these robust predictions relies on an epistemic result which establishes a relationship between the set...

Determining whether per capita output can be characterized by a stochastic trend is complicated by the fact that infrequent breaks in trend can bias standard unit root tests towards non-rejection of the unit root hypothesis. The bulk of the existing literature has focused on the application of...

We introduce the concept of structural redundancy as a qualitatively different kind of reconciliation between two long-standing focuses of organizational and groups research - heterogeneity and homogeneity in organizations' personnel. Redundancy captures the structural arrangement whereby...

A method for principal component analysis is proposed that is sparse and robust at the same time. The sparsity delivers principal components that have loadings on a small number of variables, making them easier to interpret. The robustness makes the analysis resistant to outlying observations....

We propose estimators for the parameters of a linear median regression without any assumption on the shape of the error distribution – including no condition on the existence of moments – allowing for heterogeneity (or heteroskedasticity) of unknown form, noncontinuous distributions, and...

n this paper robustness properties of the maximum likelihood estimator (MLE) and several robust estimators for the logistic regression model when the responses are binary are analysed analytically by means of the Influence Function (IF) and empirically by means of simulations. It is found that...

Confirmatory factor analysis (CFA) is a data anylsis procedure that is widely used in social and behavioral sciences in general and other applied sciences that deal with large quantities of data (variables). The classical estimator (and inference) procedures are based either on the maximum...

This paper explores a linear hedge fund replication and alternative beta methodology that is robust to the presence of non linearities and the possibility of model mis-specification. In a fashion similar to Roncalli and Weisang (2009a), the problem is cast as a tracking problem in order to allow...

What makes an actor's position in social structure robust rather than fragile? This article introduces a network model that pictures occupants of robust positions as recipients of diversified support from durably located others, and portrays occupants of fragile positions as dependents on...

We present a method for computing a normalized measure of model risk. The method is based on the definition of a "distance" between models, measured by the conditional entropy of a perturbed model with respect to a reference model. The method is illustrated by numerical examples