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We present a computational model of consumer behavior. Consumers possess expectation-based reference-dependent preferences and are disappointment averse. They interact with each other on static social network. They exchange and update their beliefs about the quality of the product. Individual...
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We present a discrete choice model based on agent interaction. The framework combines the features of two well-known models of word-of-mouthcommunication (Ellison and Fudenberg, 1995 and Bala and Goyal, 2001).Interaction structure is a regular periodic lattice with decision-makers interacting...
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This paper confronts, theoretically and empirically, two estimation methods for the Equilibrium Rate of Unemployment (ERU). By introducing observable variables into the TV-NAIRU approach and unobservable variables into the structural approach, we show how these two methods can converge even...
Persistent link: https://www.econbiz.de/10005440452