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Hicksian Surplus Measures of Individual Welfare Change When There is Price and Income Uncertainty
(Vanderbilt University, 2006)
This article considers measures of individual welfare change for projects that change the state distribution of prices and incomes. For a consumer whose preferences satisfy the expected utility hypothesis, we investigate ...
Strategic Basins of Attraction, the Path Dominance Core, and Network Formation Games
(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 ...
Protests and Reputation
(Vanderbilt University, 2006)
Protests take place for a variety of reasons. In this paper we focus on protests that have a well defined objective, that is in conflict with the objectives of the government. Hence the success or failure of a protest ...
Persistence in Law-of-One-Price Deviations: Evidence from Micro-data
(Vanderbilt University, 2006)
We study the dynamics of good-by-good real exchange rates using a micro-panel of 270 goods prices drawn from major cities in 63 countries and 258 goods prices drawn from 13 major U.S. cities. We find the half-life of ...
The Undergraduate Origins of Ph.D. Economists
(Vanderbilt University, 2006)
We document the types of undergraduate colleges and universities attended by those who earned a doctorate in economics from an American university from 1966 through 2003 and examine relationships between type of undergraduate ...
The Economic Impact of Colleges and Universities
(Vanderbilt University, 2006)
This essay describes methodological approaches and pitfalls common to studies of the economic impact of colleges and universities. Such studies often claim local benefits that imply annualized rates of return on local ...
International Real Business Cycles
(Vanderbilt University, 2006)
This paper is a non-technical review of research developments in the international real business cycle literature. International business cycle facts are summarize with particular attention to the sources of output variance ...
Markets, Torts and Social Inefficiency
(Vanderbilt University, 2003)
In this paper we examine the nexus between product markets and the legal system. We examine a model wherein oligopolists produce differentiated products that also have a safety attribute. Consumption of these products may ...
Nonparametric Neural Network Estimation of Lyapunov Exponents and a Direct Test for Chaos
(Vanderbilt University, 2003)
This paper derives the asymptotic distribution of the nonparametric neural network estimator of the Lyapunov exponent in a noisy system. Positivity of the Lyapunov exponent is an operational definition of chaos. We introduce ...
Multi-Agent Bilateral Bargaining and the Nash Bargaining Solution
(Vanderbilt University, 2003)
This paper studies a bargaining model where n players play a sequence of (n-1) bilateral bargaining sessions. In each bilateral bargaining session, two players follow the same bargaining process as in Rubinstein's (1982). ...