Recursive Contracts
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Albert Marcet; Ramon Marimon; Resumen : We obtain a recursive formulation for a general class of contracting problems involving incentive constraints. Under these...
General Preferences for Consumption Goods in the Random Matching Model of Commodity Money
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Xavier Cuadras Morató; Resumen : This paper generalizes the original random matching model of money by Kiyotaki and Wright (1989) (KW) in two aspects: first, the economy...
How Different are Returns to Education? Evidence from German School Choices
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Dörte Dömeland; Resumen : This study presents estimates of returns to post-secondary education and wage differentials among graduates fromdifferent secondary schools in...
Long Term Debt with Hidden Borrowing
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Heski Bar-Isaac; Vicente Cuñat; Resumen : We consider borrowers with the opportunity to raise funds from a competitive baking sector, that shares information about...
A Non-Quasi-Competitive Cournot Oligopoly with Stability
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Ramon Villanova; Jaume Paradís; Pelegrí Viader; Resumen : This paper presents a classical Cournot oligopoly model with some peculiar features: it is non--quasi...
Campaign Rhetoric: A Model of Reputation
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Enriqueta Aragonés; Andrew Postlewaite; Resumen : We analyze conditions under which a candidate's campaign rhetoric may affect the beliefs of the voters over what policy...
Stochastic Uncoupled Dynamics and Nash Equilibrium
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Sergiu Hart; Andreu Mas-Colell; Resumen : In this paper we consider dynamic processes, in repeated games, that are subject to the natural informational restriction of...
The P-Median Problem in a Changing Network: The Case of Barcelona
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Daniel Serra; Vladimir Marianov; Resumen : In this paper a p--median--like model is formulated to address the issue of locating new facilities when there is uncertainty...
How Wide Is the Gap? An Investigation of Gender Wage Differences Using Quantile Regression
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Jaume Garcia; Pedro J. Hernández; Ángel López Nicolás; Resumen : In this paper we examine the determinants of wages and decompose the observed differences across genders...
Corporate Criminal Law and Organization Incentives: A Managerial Perspective
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Nuno Garoupa; Resumen : Corporate criminal liability puts a serious challenge to the economic theory of enforcement. Are corporate crimes different from other crimes? Are...
Endogenous Stackelberg Leadership
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Eric van Damme; Sjaak Hurkens; Resumen : We consider a linear quantity setting duopoly game and analyze which of the players will commit when both players have the...
Constant Coefficient Tests for Random Coefficient Regression
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Pedro Delicado; Juan Romo; Resumen : Random coefficient regression models have been applied in different fields and they constitute a unifying setup for many statistical...
Responsibility-Allevation and Effort Provision in a Gift-Exchange Experiment
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Gary Charness; Resumen : Previous indirect evidence suggests that impulses towards pro-social behavior are diminished when an external authority is responsible for an...
Business Cycles, Unemployment Insurance, and the Calibration of Matching Models
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: James S. Costain; Michael Reiter; Resumen : This paper points out an empirical puzzle that arises when an RBC economy with a job matching function is used to model...
A Process Approach to the Utility for Gambling
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Marc Le Menestrel; Resumen : This paper argues that any specific utility or disutility for gambling must be excluded from expected utility because such a theory is...
Riding the South Sea Bubble
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Peter Tenim; Joachim Voth; Resumen : This paper presents a case study of a well-informed investor in the South Sea bubble. We argue that Hoare's Bank, a fledgling West...
Approximation of Quadratic Irrationals and their Pierce Expansions
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Jaume Paradís; Lluís Bibiloni; Pelegrí Viader; Resumen : In this article two aims are pursued: on the one hand, to present a rapidly converging algorithm for the...
Job Search and Asset Accumulation under Borrowing Constraints
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Silvio Rendon; Resumen : In this paper I show how borrowing constraints and job search interact. I fit a dynamic model to data from the National Longitudinal Survey...
Optimal Magnitude and Probability of Fines
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Nuno Garoupa; Resumen : The economic literature on crime and punishment focuses on the trade-off between probability and severity of punishment, and suggests that...
Dynamic Optimal Law Enforcement with Learning
RECERCAT - Dipòsit de Recerca de Catalunya
Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa Autor/es: Mohamed Jellal; Nuno Garoupa; Resumen : We incorporate the process of enforcement learning by assuming that the agency's current marginal cost is a decreasing function of...
