The exception is when there are commitment (holdup) problems, so that equilibrium taxes and regulations are worse than the elite would like them to be from an ex ante point of view. In this case, economic institutions that provide additional security of property rights to other groups can be...
2016, Artificial Intelligence in Medicine Citation Excerpt : This point is increasingly widely understood; we do not restrict the complexity of the model simply because we have limited or poor quality data [12,13]. BN applications which incorporate expert knowledge along with relevant statistical data...
Economics Law InModern Principles, Tyler and I explain that a command and control regulation is a less flexible and thus more expensive way of reducing energy consumption than is a tax. How much more expensive? Arecent analysisestimates that the new fuel economy standards are 6 to 14 times mo...
Fama (1998) and Mitchell and Stafford (2000) point out that buy-and-hold abnormal returns methodology may be problematic because it does not adequately account for potential cross-sectional dependence in returns. Following their suggestions, we also estimate abnormal returns using the calendar-time ...
内容提示: Journal of Mathematical Economics 48 (2012) 445–460Contents lists available at SciVerse ScienceDirectJournal of Mathematical Economicsjournal homepage: www.elsevier.com/locate/jmatecoInefficient entry order in preemption games✩Rossella Argenzianoa,∗, Philipp Schmidt-Denglerb,1aUniversity of...
From the point of view of the incumbent, who cannot observe \mu ^o at the time of choosing d, her (re-)election probability is e(d) = \mathbf {E}[v(d) +(1-v(d))p] = p + (1-p) \mathbf {E}v(d). 2.4 The incumbent’s objective...
The trading robot approach considers the long-term overreactions from a trader’s viewpoint, i.e. whether it is possible to make abnormal profits by exploiting the overreaction anomaly, and simulates the actions of a trader using an algorithm representing a trading strategy. This is a programme...
doi:10.1515/ael-2015-0021CharronJacques-OlivierDe GruyterAccounting, Economics, and Law: A ConviviumCharron, Jacques-Olivier, 2016. Inefficient Debate: The EMH, the "Remarkable Error" and a Question of Point of View. A paraitre.
In particular, if the outcomes of the pretests reveal no statistical evidence that GP possesses a predictive ability superior to a random search or a random trading behavior, then this suggests to us that there is no point in investing further resources in GP. The analysis is illustrated with...
Fluctuations in firms' revenues reduce firms' viability and are costly from a social welfare point of view even when agents are risk neutral if (i) the decisionden Haan, Wouter J.Sedlacek, PetrSocial Science Electronic PublishingDenHaan, W., and P. Sedla´cˇek (2009): "Inefficient ...