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We construct a tractable, flexible-functional-form estimator of cumulative distribution functions for non-negative random variables which admits large numbers of covariates. The estimator adopts and extends techniques from the spell-duration literature for estimating hazard functions to...
Persistent link: https://www.econbiz.de/10005673002
We develop and estimate an agency model of worker behavior under piece rates and fixed wages. The model implies optimal decision rules for the firm's choice of a compensation system as a function of working conditions. Our model also implies an upper and lower bound to the incentive effect (the...
Persistent link: https://www.econbiz.de/10005550085
In applications of game theory to auctions, researchers assume that players choose strategies based upon a commo nly known distribution of the latent characteristics. Rational behavior, within an assumed class of distributions for the latent process, imposes testable restrictions upon the data...
Persistent link: https://www.econbiz.de/10005550366