This paper collects some results of the authors on minimax estimation of parameters in linear (regression) models disturbed by some nuisance parameters. In contrast to conventional modelling, the disturbances are not specified as random variables but rather as unknown parameters, for which some...

This paper deals with deterministic dynamic pricing and advertising differential games which are stylized models of special durable-good oligopoly markets. We analyze infinite horizon models with constant price and advertising elasticities of demand in the cases of symmetric and asymmetric...

In Sethi et al. introduced a particular new-product adoption model. They determine optimal advertising and pricing policies of an associated deterministic infinite horizon discounted control problem. Their analysis is based on the fact that the corresponding Hamilton-Jacobi-Bellman (HJB)...

In a general setting of private information, the possibility (impossibility) theorem is said to be valid, if a balanced and ex post efficient mechanism exists (does not exist) which agents voluntarily participate at. Possibility and impossibility results are called robust if they hold for all...

We present a general equilibrium model of imperfect competition to analyze different policy measures in transition economies. Due to strategic complementarities in technology choice and demand spillovers, the possibility of multiple macroeconomic equilibria arises. Those equilibria can be...

In this note we consider the problem whether contingent commodity allocations can be used when the states are not directly contractible. In such a setting a contingent commodity allocation takes the form of a social choice function, and the question is whether this function is implementable (in...

The study of evolutionary dynamics was so far mainly restricted to finite strategy spaces. In this paper we show that this unsatisfying restriction is unnecessary. We specify a simple condition under which the continuous time replicator dynamics are well defined for the case of infinte strategy...

The paper develops a theoretical framework for studying conspicuous consumption. This is modeled as a device that signals the consumer's social status. Status is some function of the individual's rank in the wealth hierarchy. This approach makes it possible to distinguish between snob and...

This article studies the long-run direction of technological change in an endogenous growth model. Development is modeled as a sequence of temporary equilibria in an overlapping generations framework. We introduce a concept of `long-run efficient development' which excludes persistent...

We present a model where a government chooses the number of individuals to which ownership in a former state-owned firm shall be allocated. When making this decision the government maximizes the political support it gets from the firm's incumbent manager and from potential shareholders,...