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On Market Games with Misspecified Demand Functions : Long Run Outcomes and Global Dynamics

Bischi, G.I.; Chiarella, C.; Kopel, M. - Society for Computational Economics - SCE - 2002

Persistent link: https://www.econbiz.de/10005345392

Negotiating over Bundles and Prices Using Aggregate Knowledge

Somefun, Koye; Klos, Tomas - Society for Computational Economics - SCE - 2004

Combining two or more items and selling them as one good, a practice called bundling, can be a very effective strategy for reducing the costs of producing, marketing, and selling goods. In this paper, we design a system for a shop, to negotiate both the contents and the price of bundles of goods...

Persistent link: https://www.econbiz.de/10005537632

Evolutionary Learning in the Ultimatum Game

Riechmann, Thomas - Society for Computational Economics - SCE - 2001

The ultimatum game is (in)famous for its `anomalies': The outcomes of laboratory experiments are very different from the results generated by traditional game theory. This paper aims to find to what extent these discrepancies between theory and experiments can be explained by the effects of...

Persistent link: https://www.econbiz.de/10005345615

Employment Fluctuations with Downward Wage Rigidity

Costain, James; Jansen, Marcel - Society for Computational Economics - SCE - 2006

This paper considers a dynamic matching model with imperfectly observable worker effort as in Shapiro and Stiglitz (1994). In our economy the no-shirking condition endogenously imposes real wage rigidity on the matching market. This generates "contractual fragility" and inefficient separations...

Persistent link: https://www.econbiz.de/10005706170

Holdup and the Evolution of Bargaining Conventions

Dawid, Herbert; MacLeod, Bentley - Society for Computational Economics - SCE - 2001

As Posner (1997) has observed, when individuals in a relationship can commit to imposing costs upon each other then efficient behavior in the absence of law is possible. The question is whether efficient norms of behavior evolve endogenously in a population. We show that in a standard hold up...

Persistent link: https://www.econbiz.de/10005706768

New Phenomena Identified in a Stochastic Dynamic Macroeconometric Model: A Bifurcation Perspective

Barnett, William A.; He, Yijun - Society for Computational Economics - SCE - 2004

In this paper, we consider new bifurcation phenomena in a class of stochastic dynamic macroeconometric models as represented by the stochastic model developed by Leeper and Sims (1994). This model serves as a prototype that could be suitable for monetary policy analysis although the complexity...

Persistent link: https://www.econbiz.de/10005537629

Interacting Two-Country Business Fluctuations

Asada, Toichiro; Chiarella, Carl; Flaschel, Peter; … - Society for Computational Economics - SCE

dynamics and discuss in a mathematically informal way its stability properties, concerning asymptotic stability and loss of … stability by way of super- or subcritical Hopf-bifurcations. In a final section we explore numerically a variety of situations …

Persistent link: https://www.econbiz.de/10005537832

Long Memory, Heterogeneity, and Trend Chasing

Li, Youwei; He, Xue-Zhong - Society for Computational Economics - SCE - 2005

Long-range dependence in volatility is one of the most prominent examples of applications in financial market research involving universal power laws. Its characterization has recently spurred attempts at theoretical explanation of the underlying mechanism. This paper contributes to this recent...

Persistent link: https://www.econbiz.de/10005343031

Learning in a Misspecified VAR Model

Guse, Eran A. - Society for Computational Economics - SCE - 2005

perceptions, an increase in inertia will always eventually lead to an explosive RPE if the RPE is not learnable. The stability …

Persistent link: https://www.econbiz.de/10005345066

Stability Analysis of Heterogeneous Learning in Self-Referential Linear Stochastic Models

Giannitsarou, Chryssi - Society for Computational Economics - SCE - 2001

agents and homogeneous learning. We study the local stability of REEs under heterogeneous adaptive learning, for the broad … general conditions for local stability of an REE. Even though in general, hetereogeneity may lead to different stability … conditions, we provide applications to various economic models where the stability conditions are identical to the conditions …

Persistent link: https://www.econbiz.de/10005345570