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Additive decompositions with interaction effects

Biewen, Martin - 2012

This paper proposes a comprehensive, path-independent decomposition formula of changes into ceteris paribus effects and interaction effects. The formula implies a reassessment of sequential decomposition methods that are widely used in the literature and that are restrictive in how they treat...

Persistent link: https://www.econbiz.de/10010287675

Generalized Kuhn-Tucker conditions for N-firm stochastic irreversible investment under limited resources

Chiarolla, Maria B.; Ferrari, Giorgio; Riedel, Frank - 2012

In this paper we study a continuous time, optimal stochastic investment problem under limited resources in a market with N firms. The investment processes are subject to a time-dependent stochastic constraint. Rather than using a dynamic programming approach, we exploit the concavity of the...

Persistent link: https://www.econbiz.de/10010319990

Markovian approach to stock price modelling in the Nigerian oil and gas sector

Ayo, Adekunle S.; Uwabor, Eboigbe S. - In: CBN Journal of Applied Statistics 12 (2021) 1, pp. 23-43

The study investigates the stock price movement of quoted Nigerian oil and gas firms using the Markovian model. Specifically, the study estimates the change in likelihoods and steady-state distribution of the share prices of the firms to determine the average time spent by the share price to...

Persistent link: https://www.econbiz.de/10012604582

Cobweb theorems with production lags and price forecasting

Dufresne, Daniel; Vázquez-Abad, Felisa - 2012

The classical cobweb theorem is extended to include production lags and price forecasts. Price forecasting based on a longer period has a stabilizing effect on prices. Longer production lags do not necessarily lead to unstable prices; very long lags lead to cycles of constant amplitude. The...

Persistent link: https://www.econbiz.de/10010308394

A queuing-based model for optimal dimension of service firms

Parra-Frutos, Isabel - In: SERIEs - Journal of the Spanish Economic Association 1 (2010) 4, pp. 459-474

This paper examines a stochastic model to determine optimal pricing, waiting time, output, and sizing decisions for service firms which compete on time in an uncertain environment. Sizing decisions concern optimal service capacity and maximum physical waiting room (with a given probability)....

Persistent link: https://www.econbiz.de/10010317085

Central bank learning and monetary policy

Tesfaselassie, Mewael F. - 2008

We analyze optimal monetary policy when a central bank has to learn about an unknown coefficient that determines the effect of surprise inflation on aggregate demand. We derive the optimal policy under active learning and compare it to two limiting cases-certainty equivalence policy and...

Persistent link: https://www.econbiz.de/10010263516

Taking a shower in Youth Hostels: risks and delights of heterogeneity

Matzke, Christina; Challet, Damien - 2008

Tuning one's shower in some hotels may turn into a challenging coordination game with imperfect information. The temperature sensitivity increases with the number of agents, making the problem possibly unlearnable. Because there is in practice a finite number of possible tap positions, identical...

Persistent link: https://www.econbiz.de/10010264912

A new unified theory of sociobehavioral forces

Jasso, Guillermina - 2007

This paper proposes a new unified theory of sociobehavioral forces. The goal of the new theory is to integrate theories … characteristics, and primordial sociobehavioral outcomes. The unified theory posits the operation of three sociobehavioral forces … distinctive identity and a distinctive magnitude of happiness. Thus, the theory enables systematic and parsimonious analysis of …

Persistent link: https://www.econbiz.de/10010268702

A new model of wage determination and wage inequality

Jasso, Guillermina - 2008

. We use probability theory to derive initial results, including both distribution-independent and distribution …

Persistent link: https://www.econbiz.de/10010269355

Linking individuals and societies

Jasso, Guillermina - 2009

How do individuals shape societies? How do societies shape individuals? This paper develops a framework for studying the connections between micro and macro phenomena. The framework builds on two ingredients widely used in social science - population and variable. Starting with the simplest case...

Persistent link: https://www.econbiz.de/10010269509