Search Results - subject:"testable restrictions"

Dziewulski, Pawel - 2015

Persistent link: https://www.econbiz.de/10011286057

Dziewulski, Pawel - Volkswirtschaftliche Fakultät, … - 2014

various forms of discounting, including weakly present-biased, quasi-hyperbolic, and exponential, and determine the testable … restrictions for each specification. Moreover, we discuss identification issues which may arise in this class of experiments. …

Persistent link: https://www.econbiz.de/10011111746

On the Empirical Content of Quantal Response Equilibrium

Haile, Philip A.; Hortacsu, Ali; Kosenok, Grigory - Center for Economic and Financial Research (CEFIR), New … - 2006

The quantal response equilibrium (QRE) notion of McKelvey and Palfrey (1995) has recently attracted considerable attention, due in part to its widely documented ability to rationalize observed behavior in games played by experimental subjects. However, even with strong a priori restrictions on...

Persistent link: https://www.econbiz.de/10005357257

Testable Restrictions of Nash Equilibrium in Games with Continuous Domains

Carvajal, Andrés - Department of Economics, Royal Holloway University of London - 2004

falsifiable, as it imposes nontautological, nonparametric testable restrictions. An assessment of these restrictions, however …

Persistent link: https://www.econbiz.de/10005489937

The Strong Law of Demand

Brown, Donald J.; Calsamiglia, Caterina - School of Management, Yale University - 2004

We show that a demand function is derived from maximizing a quasilinear utility function subject to a budget constraint if and only if the demand function is cyclically monotone. On finite data sets consisting of pairs of market prices and consumption vectors, this result is equivalent to a...

Persistent link: https://www.econbiz.de/10005587056

On the Empirical Content of Quantal Response Equilibrium

Haile, Philip A.; Hortacsu, Ali; Kosenok, Grigory - School of Management, Yale University - 2004

The quantal response equilibrium (QRE) notion of McKelvey and Palfrey (1995) has recently attracted considerable attention, due largely to its widely documented ability to rationalize observed behavior in games played by experimental subjects. We show that this ability to fit the data, as...

Persistent link: https://www.econbiz.de/10005587059

Testable Restrictions of General Equilibrium Theory in Exchange Economies with Externalities

Carvajal, Andrés - Department of Economics, Royal Holloway University of London - 2004

Matzkin (1996), which showed the existence of testable restrictions on the equilibrium manifold of exchange economies. This … extremely mild testable restrictions. This, however, is not a pure extension of the Brown-Matzkin result, since some individual … imposes no testable restrictions. This occurs unless one imposes further assumptions, such as weak separability. …

Persistent link: https://www.econbiz.de/10005677869

On the Empirical Content of Quantal Response Equilibrium

Haile, Philip A.; Hortacsu, Ali; Kosenok, Grigory - Cowles Foundation for Research in Economics, Yale University - 2003

Persistent link: https://www.econbiz.de/10005464060

The Strong Law of Demand

Brown, Donald J.; Calsamiglia, Caterina - Cowles Foundation for Research in Economics, Yale University - 2003

Persistent link: https://www.econbiz.de/10005593478

Three Lectures on the Walrasian Hypotheses for Exchange Economies

Brown, Donald J. - 1997

This paper discusses the testable implications of the Walrasian hypotheses: H1 Observed market demand is the sum of consumer's demands derived from utility maximization subject to budget constraints. H2 There exists an observable (locally) unique equilibrium price system such that the observable...

Persistent link: https://www.econbiz.de/10010369219