This study engineers a household sector where individuals process macroeconomic information to reproduce consumption spending patterns in New Zealand. To do this, heterogeneous artificial neural networks (ANNs) are trained to forecast changes in consumption. In contrast to existing literature,...

This study explores the value of information transmission in training heterogeneous Artificial Neural Network (ANN) models to identify patterns in the growth rate of aggregate per-capita consumption spending in New Zealand. A tier structure is used to model how information passes from one ANN to...

Using search engine query data as a measure for public awareness of sexual health outcomes, this study extracts a measure of general interest in sexually transmitted disease for the United States (2004 - 2012). This trend is compared to a measure of overall economic prosperity. Heightened...

This study proposes an agent-based model of the impact of research success on the structure of scientific communities. In the model, heterogeneous scientists scattered about a ‘social landscape’ influence each other through networking. Peer networks are allowed to change based on...

This study uses artificial neural networks (ANNs) to reproduce aggregate per-capita consumption patterns for the New Zealand economy. Results suggest that non-linear ANNs can outperform a linear econometric model at out-of-sample forecasting. The best ANN at matching in-sample data, however, is...

Data show that educated workers earn higher wages and experience lower unemployment rates. Some researchers believe this occurs because education improves a worker's productivity (or human capital), making them more desirable on the job market. Other researchers believe schooling improves a...

We experimentally test an endogenous-timing investment model in which subjects privately observe their cost of investing and a signal correlated with the common investment return. Subjects overinvest, relative to Nash. We separately consider whether subjects draw inferences, in hindsight, and...

This paper proposes to model the error term in smooth transition autoregressive target zone model as Gaussian with stochastic volatility (STARTZ-SV) or as Student-t with GARCH volatility (STARTZ-TGARCH). Using the dynamics of Norwegian krone exchange rate index, we show that both models produce...

We use a second-price common-value auction, the maximal game, to experimentally study whether the Winner’s Curse (WC) can be explained by models which retain best-response behavior but allow for inconsistent beliefs. In the maximal game, the WC can be rationalized only by a belief that others...

In this paper we propose an asymptotically equivalent single-step alternative to the two-step partially linear model estimator in Robinson (1988). The estimator not only has the potential to decrease computing time dramatically, it shows substantial finite sample gains in Monte Carlo simulations.