Showing 1 - 10 of 2,070
Persistent link: https://www.econbiz.de/10005537799
Solow and Hahn proposed an overlapping generations model in 1995 with which to criticize rational expectations. The agents have perfect foresight, but are subjected to an unanticipated shock in the population. The authors showed that the economy couldn't return to the steady state without...
Persistent link: https://www.econbiz.de/10005706500
Dynamic programming with continuous choice variables generally assumes compact search spaces. Collapsing disjoint n-dimensional bubbles within the space, creating and indexing new bubbles as needed, pushes back the "curse of dimensionality." An animal-breeding optimization is used as an example....
Persistent link: https://www.econbiz.de/10005345543
Persistent link: https://www.econbiz.de/10008117146
In our paper we investigate how network effects influence the dynamics of oligopoly on mature telecommunication markets. The model covers four categories of agents: telecommunication operators, customers joined into housholds and market regulator. The market state aware firms use reinforcement...
Persistent link: https://www.econbiz.de/10005537383
This paper sets out first, to quantify the stabilization gains from commitment in terms of household welfare and second, to examine how commitment to an optimal or approximately optimal rule can be sustained as an equilibrium in which reneging hardly ever occurs. We utilize an influential...
Persistent link: https://www.econbiz.de/10005537384
Efficient algorithms for diagnosing influential data points are investigated. Techniques examining potentially influential subsets are considered. Given a list of candidate observations, a new row-dropping algorithm (RDA) computes all possible observation-subset regression models. It employs a...
Persistent link: https://www.econbiz.de/10005537385
Population aging threatens to severely destabilize the public finances of a majority of European countries. This unfavorable demographic prospect is usually reinforced by a widespread tendency to anticipate retirement. Reversing this tendency has been identified as a crucial factor to improve...
Persistent link: https://www.econbiz.de/10005537386
This paper integrates the literature of Mortgage Design with that of Rotating Savings and Credit Associations (ROSCAs) to present a novel way of mortgage financing (with a zero interest rate) using cooperatives. This mode of financing dissipates credit (default) risk better than the normal mode...
Persistent link: https://www.econbiz.de/10005537389
A system of agents interacting in a network with a globalization-polaritation transition is studied in the context of a cultural dissemination model. We consider different types of fields interpreted as forms of mass media acting on the system. Both for autonomous and external fields,...
Persistent link: https://www.econbiz.de/10005537390