Browsing Working Papers by Title
Now showing items 166-185 of 319
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(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 ...
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(Vanderbilt University, 2007)We explore how the incentives of a plaintiff and her attorney, when considering filing suit and bargaining over settlement, can differ between those suits associated with stand-alone torts cases and those suits involving ...
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(Vanderbilt University, 2006)Using a sample of 26 U.S. economics Ph.D. programs in Fall 2003, we estimate that only about 12 percent of the U.S. and Canadian students accepted for doctoral study did not enroll in any U.S. economics Ph.D. program in ...
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(Vanderbilt University, 2003)This paper presents and examines a new algorithm for solving a score equation for the maximum likelihood estimate in certain problems of practical interest. The method circumvents the need to compute second order derivatives ...
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(Vanderbilt University, 2005)This article reconsiders the Harsanyi-Sen debate concerning whether Harsanyi is justified in interpreting his Aggregation and Impartial Observer Theorems as providing axiomatizations of utilitarianism. Sen's criticism and ...
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(Vanderbilt University, 2003)Data from Okinawa's monetary union with the United States in 1958 and with Japan in 1972 are used to obtain a quantitative indication of how monetary union might affect the behavior of nominal and real shocks across two ...
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(Vanderbilt University, 2006)Abstract: In this article, we introduce an index of ex ante exchange market pressure (EMP) that can be used as a benchmark against which to measure the effectiveness of sterilized intervention. Ex ante EMP is the change ...
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(Vanderbilt University, 2005)We consider the classic puzzle of why people turn out for elections in substantial numbers even though formal analysis strongly suggests that rational agents would not vote. If one assumes that voters do not make systematic ...
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(Vanderbilt University, 2006)We revisit a foundational theoretical paper in the menu cost literature, Sheshinski and Weiss (1983), one of the few to treat stochastic inflation with persistent deviations from trend. In contrast to the original finding, ...
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(Vanderbilt University, 2001)We analyze mergers over the past century in a growth model that emphasizes technological change. We explain the positive relation between mergers and stock prices, the positive relation between internal growth of firms and ...
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(Vanderbilt University, 2003)In this paper, we study the incentives for market concentration of (online and traditional) auction houses. Would sellers and buyers be better off if two separate auction houses merged? We suppose that each auction house ...
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(Vanderbilt University, 2009)In this essay I propose that the adoption of the U.S. dollar as a common currency shortly after the ratification of the Federal Constitution and the accompanying transition from a fiat to specie standard was a pivotal ...
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(Vanderbilt University, 2000)We study price determination and exchange patterns in a monopolistically competitive economy, in which both goods and (fiat) money are perfectly divisible. The decentralized trading environment features 'multiple matches,' ...
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(Vanderbilt University, 2004)The release of Enovid in 1960, the first birth control pill, afforded U.S. women unprecedented freedom to plan childbearing and their careers. This paper uses plausibly exogenous variation in state consent laws to evaluate ...
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(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). ...
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(Vanderbilt University, 2003)Consider a multilateral bargaining problem where negotiation is conducted by a sequence of bilateral bargaining sessions. We are interested in an environment where bargaining protocols are determined endogenously. During ...
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(Vanderbilt University, 2003)The axioms used to characterize the generalized Gini social evaluation orderings for one-dimensional distributions are extended to the multidimensional attributes case. A social evaluation ordering is shown to have a ...
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(Vanderbilt University, 2000)This article examines the intellectual influences that economists exerted on Nicholas Georgescu Roegen in his formative and mature years. While these include Malthus, Marshall, Pareto and Schumpeter, attention is focused ...
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(Vanderbilt University, 2003)This paper extends the diffusion index (DI) forecast approach of Stock and Watson (1998, 2002) to the case of possibly nonlinear dynamic factor models. When the number of series is large, a two-step procedure based on the ...
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(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 ...