This paper develops a model of simple 'reputation systems' that monitor and publish information about the behavior of sellers in a market with search frictions and asymmetric information. The reputations created by these systems influence the equilibrium search patterns of buyers and thus...

For cooperative games with sidepayments the prekernel has been characterized by a reduced game property and its converse. In this paper we investigate the possibilities for a generalization of this result to the environment of cooperative games without sidepayments. This leads to the...

In this article we show that technological parameter estimates obtained by estimating a cost function that is derivable as the dual of a production function can be biased and inconsistent if the stochastic structure of the model arises from certain types of behavioural assumptions made about...

The lack of appropriate production data has hitherto hampered any attempt in estimating changes in labour productivity in pre-industrial economies. The method applied here estimates labour productivity by making inferences from available information on changes in the occupational structure,...

This paper analyses the impact of tax reforms that decrease income tax progression in an equilibrium search model with wage bargaining and endogenous individual working time. The working time is either bargained together with the hourly wage (case 1) or determined solely by workers after...

In this paper, we consider finite normal form games satisfying transference of decisionmaker indifference. We show that any set of strategies surviving k rounds of elimination of some weakly dominated strategies can be reduced to a set of strategies equivalent to the set of strategies surviving...

This article examines how the birth and the development of regional systems of innovation are connected with economic selection and points to implications for regional-level policies. The research questions are explored using an evolutionary model, which emphasises geographical spaces and...

This paper sheds light on the way in which sovereignty is transferred from the state to the sub-national level as a result of European integration. It poses the question whether communication links between public organizations and private companies could improve the 'bottom up' drive from the...

There is concern that prices in a market for Green Certificates (GCs) primarily based on volatile wind power will fluctuate excessively, leading to corresponding volatility of electricity prices. Applying a rational expectations simulation model of competitive storage and speculation of GCs the...