Browsing Working Papers by Title
Now showing items 256-275 of 319
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(Vanderbilt University, 2005)We introduce a concept of status equilibrium for local public good economies. A status equilibrium specifies one status index for each agent in an economy. These indices determine agents' cost shares in any possible ...
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(Vanderbilt University, 2001)The term "new economy" has, more than anything, come to mean a technological transformation, and in particular its embodiment in the computer and the internet. These technologies are more human capital intensive than earlier ...
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(Vanderbilt University, 2005)We make four main contributions to the theory of network formation. (1) The problem of network formation with farsighted agents can be formulated as an abstract network formation game. (2) In any farsighted network formation ...
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(Vanderbilt University, 2006)Given the preferences of players and the rules governing network formation, what networks are likely to emerge and persist? And how do individuals and coalitions evaluate possible consequences of their actions in forming ...
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(Vanderbilt University, 2011)This paper shows that parallel import policy can act as an instrument of strategic trade policy. We demonstrate this result in two-country international duopoly where a domestic monopolist competes with a rival firm in the ...
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(Vanderbilt University, 2010)Abstract: We develop a strategic model of network interdiction in a non-cooperative game of flow. A security agency operates a network with arc capacities. An adversary, endowed with a bounded quantity of bads, chooses a ...
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(Vanderbilt University, 2008)The Nash equilibria of a tax-setting game between two governments who can set nonlinear income tax schedules for a perfectly mobile workforce whose members differ in unobserved skill levels are examined. Each government ...
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(Vanderbilt University. Dept. of Economics, 2004-04)A social choice function satisfies the tops-only property if the chosen alternative only depends on each person's report of his most-preferred alternatives on the range of this function. On many domains, strategy-proofness ...
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(Vanderbilt University, 2010)Abstract: This paper brings together two of the most important solution concepts of game theory –subgame-perfect Nash equilibrium of a non-cooperative game and the core of a cooperativegame. Our approach rests on two ...
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(Vanderbilt University, 2004)This paper uses a recursive time-non-separable expected utility function to separate between the intertemporal elasticity of substitution (IES) and a measure of relative risk aversion to bets in terms of money (RAM). Risk ...
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(Vanderbilt University, 2008)The standard power utility function is widely used to explain asset prices. It assumes that the coefficient of relative risk aversion is the inverse of the elasticity of substitution. Here I use the Kihlstrom and Mirman ...
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(Vanderbilt University, 2010)Abstract: Syphilis has re-emerged as a global public health issue. In lesser developed countries, millions of people are contracting the disease, which can be fatal without access to proper treatment. In developed countries, ...
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(Vanderbilt University, 2003)In this paper we revisit the issues addressed in Crucini and Kahn (1996) in the light of recent research on the Great Depression. In that paper we had argued that particular features of the Hawley-Smoot tariffs could have ...
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(Vanderbilt University, 2006)In a classic model of tax competition, we show that the level of public good provision and taxation in a decentralized equilibrium can be efficient or inefficient with either too much, or too little public good provision. ...
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(Vanderbilt University, 2000)Using 114 years of U.S. stock market data we try to relate movements in stock prices to changes in technology. We find Measures of technological progress explain 37% of the 3.9% annual growth in the stock market over the ...
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(Vanderbilt University, 2009)Data on U.S. mergers and aquisitions from 1987 to 2006 indicate that firms with high market-to-book values (i.e., Tobin's Q) tend to merge with firms that have lower Q's, but that target Q's are on average higher than those ...
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(Vanderbilt University, 2007)This paper studies the empirical relevance of temptation and self-control using household-level data from the Consumer Expenditure Survey. We construct an infinite-horizon consumption-savings model that allows, but does ...
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(Vanderbilt University, 2005)This paper considers the test of a unit root in transitional autoregressive models. In particular, we develop the asymptotic theory of the inf-t test for the null hypothesis of a unit root in a wide class of nonlinear ...
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(Vanderbilt University, 2011)This paper investigates the role of social learning in the diffusion of different types of innovation in four urban areas of Brazil. A unique database of small sized firms in 19 economic sectors is used to show evidence ...
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(Vanderbilt University, 2003)The College Football Association (CFA) sold rights to broadcast live games of its members from 1984 through 1995. It competed directly with the Big Ten and Pac Ten universities that sold an alternative broadcast package. ...