Unnamed: 0 int64 0 41k | title stringlengths 4 274 | category stringlengths 5 18 | summary stringlengths 22 3.66k | theme stringclasses 8
values |
|---|---|---|---|---|
3,700 | A Dynamical Model of the Industrial Economy of the Humber Region | q-fin.EC | The Humber region in the UK is a large and diverse industrial area centred
around oil refining, chemical industries and energy production. However there
is currently a desire to see the region transition towards a more bio-based
economy. New bio-related industries are being situated in the region as a
consequence of po... | finance |
3,701 | Stability and Identification with Optimal Macroprudential Policy Rules | q-fin.EC | This paper investigates the identification, the determinacy and the stability
of ad hoc, "quasi-optimal" and optimal policy rules augmented with financial
stability indicators (such as asset prices deviations from their fundamental
values) and minimizing the volatility of the policy interest rates, when the
central ban... | finance |
3,702 | The Italian Crisis and Producer Households Debt: a Source of Stability? A Reproducible Research | q-fin.EC | The European Credit Research Institute Research Report 2013 identifies
Households debt "rapid increase and abrupt retrenchment" among the causes of
macroeconomic instability in the European Union after 2008. In our research: i)
we accessed the Bank of Italy Online Statistical Database on Customers and Risk
for Producer... | finance |
3,703 | Can Analysts Predict Rallies Better Than Crashes? | q-fin.EC | We use the copula approach to study the structure of dependence between
sell-side analysts' consensus recommendations and subsequent security returns,
with a focus on asymmetric tail dependence. We match monthly vintages of
I/B/E/S recommendations for the period January to December 2011 with excess
security returns dur... | finance |
3,704 | Strategy-proofness and single-peackedness in bounded distributive lattices | q-fin.EC | Two distinct specifications of single peakedness as currently met in the
relevant literature are singled out and discussed. Then, it is shown that,
under both of those specifications, a voting rule as defined on a bounded
distributive lattice is strategy-proof on the set of all profiles of single
peaked total preorders... | finance |
3,705 | Superstars in politics: the role of the media in the rise and success of Junichiro Koizumi | q-fin.EC | This paper explores the role of mass media in people perceptions of
charismatic leaders, focusing on the case of Junichiro Koizumi, Prime Minister
of Japan from 2001 to 2006. Using survey data collected immediately after his
2005 landslide electoral victory, this study empirically assesses the influence
of television a... | finance |
3,706 | Microscopic Models for Welfare Measures Addressing a Reduction of Economic Inequality | q-fin.EC | We formulate a flexible micro-to-macro kinetic model which is able to explain
the emergence of income profiles out of a whole of individual economic
interactions. The model is expressed by a system of several nonlinear
differential equations which involve parameters defined by probabilities.
Society is described as an ... | finance |
3,707 | A finite set of equilibria for the indeterminacy of linear rational expectations models | q-fin.EC | This paper demonstrates the existence of a finite set of equilibria in the
case of the indeterminacy of linear rational expectations models. The number of
equilibria corresponds to the number of ways to select n eigenvectors among a
larger set of eigenvectors related to stable eigenvalues. A finite set of
equilibria is... | finance |
3,708 | Semiparametric Estimation of First-Price Auction Models | q-fin.EC | We propose a semiparametric method to estimate the density of private values
in first-price auctions. Specifically, we model private values through a set of
conditional moment restrictions and use a two-step procedure. In the first step
we recover a sample of pseudo private values using Local Polynomial Estimator.
In t... | finance |
3,709 | Structural social capital and health in Italy | q-fin.EC | This paper presents the first empirical assessment of the causal relationship
between social capital and health in Italy. The analysis draws on the 2000 wave
of the Multipurpose Survey on Household conducted by the Italian Institute of
Statistics on a representative sample of the population (n = 46,868). Our
measure of... | finance |
3,710 | Indicators of availability of non-market relations in the sphere of labor market in Ukraine | q-fin.EC | There are identified indicators of availability a non-market relations in the
sphere of labor market in Ukraine. It is concluded that illegal tax money paid
by legally working in Ukraine, as insurance premiums in the event of
unemployment. It is concluded that increased pressure from the government on
labor market regu... | finance |
3,711 | Visualising stock flow consistent models as directed acyclic graphs | q-fin.EC | We show how every stock-flow consistent model of the macroeconomy can be
represented as a directed acyclic graph. The advantages of representing the
model in this way include graphical clarity, causal inference, and model
specification. We provide many examples implemented with a new software
package. | finance |
3,712 | Turnpike Property and Convergence Rate for an Investment Model with General Utility Functions | q-fin.EC | In this paper we aim to address two questions faced by a long-term investor
with a power-type utility at high levels of wealth: one is whether the turnpike
property still holds for a general utility that is not necessarily
differentiable or strictly concave, the other is whether the error and the
convergence rate of th... | finance |
3,713 | On the convergence of the Fitness-Complexity Algorithm | q-fin.EC | We investigate the convergence properties of an algorithm which has been
recently proposed to measure the competitiveness of countries and the quality
of their exported products. These quantities are called respectively Fitness F
and Complexity Q. The algorithm was originally based on the adjacency matrix M
of the bipa... | finance |
3,714 | RHOMOLO: A Dynamic Spatial General Equilibrium Model for Assessing the Impact of Cohesion Policy | q-fin.EC | The paper presents the newly developed dynamic spatial general equilibrium
model of European Commission, RHOMOLO. The model incorporates several elements
from economic geography in a novel and theoretically consistent way. It
describes the location choice of different types of agents and captures the
interplay between ... | finance |
3,715 | Conditional Preference Orders and their Numerical Representations | q-fin.EC | We provide an axiomatic system modeling conditional preference orders which
is based on conditional set theory. Conditional numerical representations are
introduced, and a conditional version of the theorems of Debreu on the
existence of numerical representations is proved. The conditionally continuous
representations ... | finance |
3,716 | Comeback kids: an evolutionary approach of the long-run innovation process | q-fin.EC | We provide a theoretical framework to understand when firms may benefit from
exploiting previously abandoned technologies and brands. We model for the long
run process of innovation, allowing for sustainable diversity and comebacks of
old brands and technologies. We present two extensions to the logistic and
Lotka-Volt... | finance |
3,717 | Long Term Risk: A Martingale Approach | q-fin.EC | This paper extends the long-term factorization of the stochastic discount
factor introduced and studied by Alvarez and Jermann (2005) in discretetime
ergodic environments and by Hansen and Scheinkman (2009) and Hansen (2012) in
Markovian environments to general semimartingale environments. The transitory
component disc... | finance |
3,718 | Identifying Multidiemsnional Adverse Selection Models | q-fin.EC | In this paper, I study the nonparametric identification of a multidimensional
adverse selection model. In particular, I consider the screening model of
Rochet and Chone (1998), where products have multiple characteristics and
consumers have private information about their multidimensional taste for these
characteristic... | finance |
3,719 | An Optimal Multiple Stopping Approach to Infrastructure Investment Decisions | q-fin.EC | The energy and material processing industries are traditionally characterized
by very large-scale physical capital that is custom-built with long lead times
and long lifetimes. However, recent technological advancement in low-cost
automation has made possible the parallel operation of large numbers of
small-scale and m... | finance |
3,720 | Market Dynamics and Indirect Network Effects in Electric Vehicle Diffusion | q-fin.EC | The diffusion of electric vehicles (EVs) is studied in a two-sided market
framework consisting of EVs on the one side and EV charging stations (EVCSs) on
the other. A sequential game is introduced as a model for the interactions
between an EVCS investor and EV consumers. A consumer chooses to purchase an EV
or a conven... | finance |
3,721 | Pareto Efficient Nash Implementation Via Approval Voting | q-fin.EC | We study implementation of a social choice correspondence in the case of two
players who have von Neumann - Morgenstern utilities over a finite set of
social alternatives, and the mechanism is allowed to output lotteries. Our main
positive result shows that a close variant of the popular approval voting
mechanism succe... | finance |
3,722 | International R&D Spillovers and other Unobserved Common Spillovers and Shocks | q-fin.EC | Studies which are based on Coe and Helpman (1995) and use weighted foreign
R&D variables to estimate channel-specific R&D spillovers disregard the
interaction between international R&D spillovers and other unobserved common
spillovers and shocks. Using a panel of 50 economies from 1970-2011, we find
that disregarding t... | finance |
3,723 | Re-visiting the Distance Coefficient in Gravity Model | q-fin.EC | This paper revisits the classic gravity model in international trade and
reexamines the distance coefficient. As pointed out by Frankel (1997), this
coefficient measures the relative unit transportation cost between short
distance and long distance rather than the absolute level of average
transportation cost. Our resu... | finance |
3,724 | Dynamic Games with Almost Perfect Information | q-fin.EC | This paper aims to solve two fundamental problems on finite or infinite
horizon dynamic games with perfect or almost perfect information. Under some
mild conditions, we prove (1) the existence of subgame-perfect equilibria in
general dynamic games with almost perfect information, and (2) the existence of
pure-strategy ... | finance |
3,725 | Empirical Relevance of Ambiguity in First Price Auction Models | q-fin.EC | We study the identification and estimation of first-price auction models
where bidders have ambiguity about the valuation distribution and their
preferences are represented by maxmin expected utility. When entry is
exogenous, the distribution and ambiguity structure are nonparametrically
identified, separately from ris... | finance |
3,726 | The Social Cost of Carbon with Economic and Climate Risks | q-fin.EC | There is great uncertainty about future climate conditions and the
appropriate policies for managing interactions between the climate and the
economy. We develop a multidimensional computational model to examine how
uncertainties and risks in the economic and climate systems affect the social
cost of carbon (SCC)---tha... | finance |
3,727 | Homogenization and Clustering as a Non-Statistical Methodology to Assess Multi-Parametrical Chain Problems | q-fin.EC | We present a new theoretical and numerical assessment methodology for a
one-dimensional process chain with general applicability to management problems
such as the optimization of decision chains or production chains. The process
is thereby seen as a chain of subsequently arranged units with random
parameters influenci... | finance |
3,728 | From 0D to 1D spatial models using OCMat | q-fin.EC | We show that the standard class of optimal control models in OCMat can be
used to analyze 1D spatial distributed systems. This approach is an
intermediate step on the way to the FEM discretization approach presented in
Grass and Uecker (2015). Therefore, the spatial distributed model is
transformed into a standard mode... | finance |
3,729 | On the Failures of Bonus Plans | q-fin.EC | A decision maker (DM) has some funds invested through two investment firms.
She wishes to allocate additional funds according to the firms' earnings. The
DM, on the one hand, tries to maximize the total expected earnings, while the
firms, on the other hand, try to maximize the overall expected funds they
manage. In thi... | finance |
3,730 | Optimal forest rotation age under efficient climate change mitigation | q-fin.EC | This paper considers the optimal rotation of forests when the carbon flows of
forest growth and harvest are priced with an increasing price. Such an
evolution of carbon price is generally associated with economically efficient
climate change mitigation, and would provide incentives for the land-owner for
enhanced carbo... | finance |
3,731 | The Theory of a Heliospheric Economy | q-fin.EC | Despite more than 50 years of human space exploration, no paper in the field
of economics has been published regarding the theory of a space-based economy.
The aim of this paper is to develop quantitative techniques to estimate
conditions of the human heliospheric expansion. An empirical analysis of
current space comme... | finance |
3,732 | Business cycle synchronization within the European Union: A wavelet cohesion approach | q-fin.EC | In this paper, we map the process of business cycle synchronization across
the European Union. We study this synchronization by applying wavelet
techniques, particularly the cohesion measure with time-varying weights. This
novel approach allows us to study the dynamic relationship among selected
countries from a differ... | finance |
3,733 | Time-scale analysis of co-movement in EU sovereign bond markets | q-fin.EC | We study the co-movement of the 10-year sovereign bond yields of 11 EU
countries. Our analysis is focused mainly on changes in co-movement during the
financial crisis period, especially around two significant dates - the fall of
Lehman Brothers, September 15, 2008, and the announcement of the increase of
Greece's publi... | finance |
3,734 | How log-normal is your country? An analysis of the statistical distribution of the exported volumes of products | q-fin.EC | We have considered the statistical distributions of the volumes of the
different products exported by 148 countries. We have found that the form of
these distributions is not unique but heavily depends on the level of
development of the nation, as expressed by macroeconomic indicators like GDP,
GDP per capita, total ex... | finance |
3,735 | Resolute refinements of social choice correspondences | q-fin.EC | Many classical social choice correspondences are resolute only in the case of
two alternatives and an odd number of individuals. Thus, in most cases, they
admit several resolute refinements, each of them naturally interpreted as a
tie-breaking rule, satisfying different properties. In this paper we look for
classes of ... | finance |
3,736 | A Bayesian Model of the Litigation Game | q-fin.EC | Over a century ago, Oliver Wendell Holmes invited scholars to look at the law
through the lens of probability theory: "The prophecies of what the courts will
do in fact, and nothing more pretentious, are what I mean by the law." Yet few
legal scholars have taken up this intriguing invitation. As such, in place of
previ... | finance |
3,737 | Note on tax enforcement and transfer pricing manipulation | q-fin.EC | This note proposes the segregation of independent endogenous and exogenous
components of tax penalty probability to introduce a formal demonstration that
enforcement and tax penalties are negatively related with income shifting. JEL
F23; H26. | finance |
3,738 | Analysis of Professional Trajectories using Disconnected Self-Organizing Maps | q-fin.EC | In this paper we address an important economic question. Is there, as
mainstream economic theory asserts it, an homogeneous labor market with
mechanisms which govern supply and demand for work, producing an equilibrium
with its remarkable properties? Using the Panel Study of Income Dynamics (PSID)
collected on the peri... | finance |
3,739 | Inequality and risk aversion in economies open to altruistic attitudes | q-fin.EC | This paper attempts to find a relationship between agents' risk aversion and
inequality of incomes. Specifically, a model is proposed for the evolution in
time of surplus/deficit distribution, and the long-time distributions are
characterized almost completely. They turn out to be weak Pareto laws with
exponent linked ... | finance |
3,740 | Axiomatization of the Choquet integral for 2-dimensional heterogeneous product sets | q-fin.EC | We prove a representation theorem for the Choquet integral model. The
preference relation is defined on a two-dimensional heterogeneous product set
$X = X_1 \times X_2$ where elements of $X_1$ and $X_2$ are not necessarily
comparable with each other. However, making such comparisons in a meaningful
way is necessary for... | finance |
3,741 | Modélisation spatiale de la formation des agglomérations dans la zone algéroise | q-fin.EC | The goal of this study is to analyze the dynamics underlying Algiers urban
area formation with reference to The New Economic Geography (NEG) theories and
more precisely to the paper of Paul Krugman (1991), "Increasing returns and
economic geography" which explains the mechanisms of economic activities
concentration thr... | finance |
3,742 | Existence of continuous euclidean embeddings for a weak class of orders | q-fin.EC | We prove that if $X$ is a topological space that admits Debreu's classical
utility theorem (eg.\ $X$ is separable and connected, second countable, etc.),
then order relations on $X$ satisfying milder completeness conditions can be
continuously embedded in $\mathbb R^I$ for $I$ some index set. In the
particular case whe... | finance |
3,743 | Role of non-timber forest products in sustaining forest-based livelihoods and rural households' resilience capacity in and around protected area- a Bangladesh study | q-fin.EC | People in developing world derive a significant part of their livelihoods
from various forest products, particularly non-timber forest products. This
article attempts to explore the contribution of NTFPs in sustaining
forest-based rural livelihood in and around a protected area of Bangladesh, and
their potential role i... | finance |
3,744 | A Model for Tax Evasion with Some Realistic Properties | q-fin.EC | We present a discrete-time dynamic model of income tax evasion. The model is
solved exactly in the case of a single taxpayer and shown to have some
realistic properties, including avoiding the Yitzhaki paradox. The extension to
an agent-based model with a network of taxpayers is also investigated. | finance |
3,745 | Transfer pricing manipulation, tax penalty cost and the impact of foreign profit taxation | q-fin.EC | This paper analizes the optimal level of transfer pricing manipulation when
the expected tax penalty is a function of the tax enforcement and the market
price parameter. The arm's length principle implies the existence of a range of
acceptable prices shaped by market, and firms can manipulate transfer prices
more freel... | finance |
3,746 | Optimal Taxation with Endogenous Default under Incomplete Markets | q-fin.EC | In a dynamic economy, we characterize the fiscal policy of the government
when it levies distortionary taxes and issues defaultable bonds to finance its
stochastic expenditure. Default may occur in equilibrium as it prevents the
government from incurring in future tax distortions that would come along with
the service ... | finance |
3,747 | The nonlinear Bernstein-Schrödinger equation in Economics | q-fin.EC | In this paper we relate the Equilibrium Assignment Problem (EAP), which is
underlying in several economics models, to a system of nonlinear equations that
we call the "nonlinear Bernstein-Schr\"odinger system", which is well-known in
the linear case, but whose nonlinear extension does not seem to have been
studied. We... | finance |
3,748 | Is Collusion-Proof Procurement Expensive? | q-fin.EC | Collusion among bidders adversely affects procurement cost and in some cases
efficiency, and it seems collusion is more prevalent that we would like.
Statistical methods of detecting collusion just using bid data, in a hope to
deter future collusion, is perilous, and access to additional data is rare and
often always a... | finance |
3,749 | Autonomics: an autonomous and intelligent economic platform and next generation money tool | q-fin.EC | We propose a high level network architecture for an economic system that
integrates money, governance and reputation. We introduce a method for issuing,
and redeeming a digital coin using a mechanism to create a sustainable global
economy and a free market. To maintain a currency's value over time, and
therefore be mon... | finance |
3,750 | The Poker-Litigation Game | q-fin.EC | Is litigation a serious search for truth or simply a game of skill or luck?
Although the process of litigation has been modeled as a Prisoner's Dilemma, as
a War of Attrition, as a Game of Chicken and even as a simple coin toss, no one
has formally modeled litigation as a game of poker. This paper is the first to
do so... | finance |
3,751 | Dynamic Model of the Price Dispersion of Homogeneous Goods | q-fin.EC | Presented is an analytic microeconomic model of the temporal price dispersion
of homogeneous goods in polypoly markets. This new approach is based on the
idea that the price dispersion has its origin in the dynamics of the purchase
process. The price dispersion is determined by the chance that demanded and
supplied pro... | finance |
3,752 | Measuring economic complexity of countries and products: which metric to use? | q-fin.EC | Evaluating the economies of countries and their relations with products in
the global market is a central problem in economics, with far-reaching
implications to our theoretical understanding of the international trade as
well as to practical applications, such as policy making and financial
investment planning. The re... | finance |
3,753 | Interdisciplinary Business Games on Sustainable Development: Theoretical Foundations and Prospects of Implementation | q-fin.EC | The article defines the place of business games among all games in general
based on the classification by F.G. Junger; it provides critical analysis of
existing business games types; it also formulates requirements and lays
theoretical foundations and elements of the methodology and organization of
interdisciplinary bu... | finance |
3,754 | The Principle of the Malevolent Hiding Hand; or, the Planning Fallacy Writ Large | q-fin.EC | We identify and document a new principle of economic behavior: the principle
of the Malevolent Hiding Hand. In a famous discussion, Albert Hirschman
celebrated the Hiding Hand, which he saw as a benevolent mechanism by which
unrealistically optimistic planners embark on unexpectedly challenging plans,
only to be rescue... | finance |
3,755 | IMF Lending and Economic Growth: An Empirical Analysis of Ukraine | q-fin.EC | This study uses Vector Autoregression (VAR) Methodology as well as Vector
Error Correction (VEC) Methodology to examine the existence and direction of
causality between economic growth and IMF lending for Ukraine. The paper
examines the IMF lending data for the period of 1991-2010. Robust empirical
analysis indicates t... | finance |
3,756 | Universalized Prisoner's Dilemma With Risk | q-fin.EC | In this paper I present a mathematically novel approach to the Prisoner's
Dilemma. I do so by first defining recursively a distinct action type, what I
call 'universalizing', that I add to the original prisoner's dilemma. Such a
modified version of the Prisoner's Dilemma provides a very food productive
model of the cho... | finance |
3,757 | Information equilibrium as an economic principle | q-fin.EC | A general information equilibrium model in the case of ideal information
transfer is defined and then used to derive the relationship between supply
(information destination) and demand (information source) with the price as the
detector of information exchange between demand and supply. We recover the
properties of th... | finance |
3,758 | The Corporate Social Responsibility is just a twist in a Möbius Strip | q-fin.EC | In recent years economics agents and systems have became more and more
interacting and juxtaposed, therefore the social sciences need to rely on the
studies of physical sciences to analyze this complexity in the relationships.
According to this point of view we rely on the geometrical model of the
M\"obius strip used i... | finance |
3,759 | Dynamics and Stability in Retail Competition | q-fin.EC | Retail competition today can be described by three main features: i)
oligopolistic competition, ii) multi-store settings, and iii) the presence of
large economies of scale. In these markets, firms usually apply a centralized
decisions making process in order to take full advantage of economies of
scales, e.g. retail di... | finance |
3,760 | Basic industrial funds of cargo motor transport enterprises: problems of effective use | q-fin.EC | This work investigates the structure of basic industrial funds of cargo motor
transport enterprises and peculiarities of the processes of their reproduction
in the conditions of social and economic relations transformation. On the basis
of statistic data of cargo-motor transport enterprises of Ivano-Frankivsk, Lviv
and... | finance |
3,761 | Estimating the Impact of Wind Generation in the UK | q-fin.EC | This paper studies the impact of wind generation on market prices and system
costs in the UK between 2013 and 2014. The wider effects and implications of
wind generation is of direct relevance and importance to policy makers, as well
as the grid operator and market traders. We compare electricity generation from
Coal, ... | finance |
3,762 | Mathematics of Predicting Growth | q-fin.EC | Mathematical methods of analysis of data and of predicting growth are
discussed. The starting point is the analysis of the growth rates, which can be
expressed as a function of time or as a function of the size of the growing
entity. Application of these methods is illustrated using the world economic
growth but they c... | finance |
3,763 | A Link between Sequential Semi-anonymous Nonatomic Games and their Large Finite Counterparts | q-fin.EC | We show that equilibria of a sequential semi-anonymous nonatomic game (SSNG)
can be adopted by players in corresponding large but finite dynamic games to
achieve near-equilibrium payoffs. Such equilibria in the form of random
state-to-action rules are parsimonious in form and easy to execute, as they are
both oblivious... | finance |
3,764 | Analysis of Markovian Competitive Situations using Nonatomic Games | q-fin.EC | For dynamic situations where the evolution of a player's state is influenced
by his own action as well as other players' states and actions, we show that
equilibria derived for nonatomic games (NGs) can be used by their large finite
counterparts to achieve near-equilibrium performances. We focus on the case
with quite ... | finance |
3,765 | Wage gap between men and women in Tunisia | q-fin.EC | This paper focuses on estimating wage differences between males and females
in Tunisia by using the Oaxaca-Blinder decomposition, a technical that isolates
wage gap due to characteristics, from wage gap due to discrimination against
women. The data used in the analysis is obtained from the Tunisian Population
and Emplo... | finance |
3,766 | A simple framework for the axiomatization of exponential and quasi-hyperbolic discounting | q-fin.EC | The main goal of this paper is to investigate which normative requirements,
or axioms, lead to exponential and quasi-hyperbolic forms of discounting.
Exponential discounting has a well-established axiomatic foundation originally
developed by Koopmans (1960, 1972) and Koopmans et al. (1964) with subsequent
contributions... | finance |
3,767 | Some Dynamic Market Models | q-fin.EC | In this text, we study the temporal behavior of markets using models
expressible as ordinary differential equations. The markets studied are those
where each customer buys only one copy of the good, for example, subscription
of smartphone service, journals and newspapers, and goods such as books, music
and games. The u... | finance |
3,768 | Water Stress on U.S. Power Production at Decadal Time Horizons | q-fin.EC | Thermoelectric power production at risk, owing to current and projected water
scarcity and rising stream temperatures, is assessed for the contiguous United
States at decadal scales. Regional water scarcity is driven by climate
variability and change, as well as by multi-sector water demand. While a
planning horizon of... | finance |
3,769 | Complex economies have a lateral escape from the poverty trap | q-fin.EC | We analyze the decisive role played by the complexity of economic systems at
the onset of the industrialization process of countries over the past 50 years.
Our analysis of the input growth dynamics, based on a recently introduced
measure of economic complexity, reveals that more differentiated and more
complex economi... | finance |
3,770 | Key drivers of EU budget allocation: Does power matter? | q-fin.EC | We examine the determinants of the EU budget expenditures allocation among
different countries. In line with earlier literature, we consider two
alternative explanations for the EU budget distribution: political power vs.
needs view. Extending the original data set from Kauppi and Widgr\'en (2004),
we analyze the robus... | finance |
3,771 | Optimal environmental tax swaps and double dividend hypothesis | q-fin.EC | Taking environmental tax rate as given, is there an optimal allocation of tax
revenues to benefit economic variables? This paper analyzes this issue in an
overlapping-generations model with the pollution-related health damage. It
finds the optimal allocations towards pollution abatement and labor income to
maximize the... | finance |
3,772 | Sovereign Default Risk and Uncertainty Premia | q-fin.EC | This paper studies how international investors' concerns about model
misspecification affect sovereign bond spreads. We develop a general
equilibrium model of sovereign debt with endogenous default wherein investors
fear that the probability model of the underlying state of the borrowing
economy is misspecified. Conseq... | finance |
3,773 | Unified Growth Theory Contradicted by the Economic Growth in Europe | q-fin.EC | Historical economic growth in Western and Eastern Europe is analysed. These
regions should have produced the best and the most convincing confirmation of
the Unified Growth Theory because they, and in particular Western Europe, were
the centre of the Industrial Revolution, which according to Galor was the prime
engine ... | finance |
3,774 | Essay on the State of Research and Innovation in France and the European Union | q-fin.EC | Innovation in the economy is an important engine of growth and no economy,
whatever its complexity and degree of advancement, whether it is based on
industry, agriculture, high tech or the providing of services, can be truly
healthy without innovating actors within it. The aim of this work, done by an
applied mathemati... | finance |
3,775 | Teaching Economics and Providing Visual "Big Pictures" | q-fin.EC | The goal of this paper is to investigate the importance of providing visual
"big pictures" in the teaching of economics. The plurality and variety of
concepts, variables, diagrams, and models involved in economics can be a source
of confusion for many economics students. However, reviewing the existing
literature on th... | finance |
3,776 | Do Mature Economies Grow Exponentially? | q-fin.EC | Most models that try to explain economic growth indicate exponential growth
paths. In recent years, however, a lively discussion has emerged considering
the validity of this notion. In the empirical literature dealing with drivers
of economic growth, the majority of articles is based upon an implicit
assumption of expo... | finance |
3,777 | A Statistical Model of Inequality | q-fin.EC | This paper develops a nonparametric statistical model of wealth distribution
that imposes little structure on the fluctuations of household wealth. In this
setting, we use new techniques to obtain a closed-form household-by-household
characterization of the stable distribution of wealth and show that this
distribution ... | finance |
3,778 | Empirical Methods for Dynamic Power Law Distributions in the Social Sciences | q-fin.EC | This paper introduces nonparametric econometric methods that characterize
general power law distributions under basic stability conditions. These methods
extend the literature on power laws in the social sciences in several
directions. First, we show that any stationary distribution in a random growth
setting is shaped... | finance |
3,779 | On the parameter identifiability problem in Agent Based economical models | q-fin.EC | Identifiability of parameters is a fundamental prerequisite for model
identification. It concerns uniqueness of the model parameters determined from
experimental or simulated observations. This dissertation specifically deals
with structural or a priori identifiability: whether or not parameters can be
identified from ... | finance |
3,780 | The Postulate of the Three Regimes of Economic Growth Contradicted by Data | q-fin.EC | Economic growth in Western Europe, Eastern Europe, Asia, countries of the
former USSR, Africa and Latin America were analysed. It is demonstrated that
the fundamental postulate of the Unified Growth Theory about the existence of
the three regimes of growth (Malthusian regime, post-Malthusian regime and
sustained-growth... | finance |
3,781 | The Invisible Hand of Laplace: the Role of Market Structure in Price Convergence and Oscillation | q-fin.EC | A fundamental question about a market is under what conditions, and then how
rapidly, does price signaling cause price equilibration. Qualitatively, this
ought to depend on how well-connected the market is. We address this question
quantitatively for a certain class of Arrow-Debreu markets with continuous-time
proporti... | finance |
3,782 | Fairs for e-commerce: the benefits of aggregating buyers and sellers | q-fin.EC | In recent years, many new and interesting models of successful online
business have been developed. Many of these are based on the competition
between users, such as online auctions, where the product price is not fixed
and tends to rise. Other models, including group-buying, are based on
cooperation between users, cha... | finance |
3,783 | Conjoint axiomatization of the Choquet integral for heterogeneous product sets | q-fin.EC | We propose an axiomatization of the Choquet integral model for the general
case of a heterogeneous product set $X = X_1 \times \ldots \times X_n$. In MCDA
elements of $X$ are interpreted as alternatives, characterized by criteria
taking values from the sets $X_i$. Previous axiomatizations of the Choquet
integral have b... | finance |
3,784 | Commodity Dynamics: A Sparse Multi-class Approach | q-fin.EC | The correct understanding of commodity price dynamics can bring relevant
improvements in terms of policy formulation both for developing and developed
countries. Agricultural, metal and energy commodity prices might depend on each
other: although we expect few important effects among the total number of
possible ones, ... | finance |
3,785 | Aggregating time preferences with decreasing impatience | q-fin.EC | It is well-known that for a group of time-consistent decision makers their
collective time preferences may become time-inconsistent. Jackson and Yariv
(2014) demonstrated that the result of aggregation of exponential discount
functions always exhibits present bias. We show that when preferences satisfy
the axioms of Fi... | finance |
3,786 | On the survival of poor peasants | q-fin.EC | Previously, in underdeveloped countries, people tried to keep the prices of
food products artificially low, in order to help the poor to buy their food.
But it became soon clear that such system, although helpful for the city poor,
was disastrous for the peasants (who usually are even poorer), so that hunger
increased,... | finance |
3,787 | Knight--Walras Equilibria | q-fin.EC | Knightian uncertainty leads naturally to nonlinear expectations. We introduce
a corresponding equilibrium concept with sublinear prices and establish their
existence. In general, such equilibria lead to Pareto inefficiency and coincide
with Arrow--Debreu equilibria only if the values of net trades are
ambiguity--free i... | finance |
3,788 | A constraint-based framework to study rationality, competition and cooperation in fisheries | q-fin.EC | In this paper, we present a simplified framework to represent competition,
coordination and bargaining in fisheries when they operate under financial and
technological constraints. Competition within constraints leads to a particular
type of mathematical game in which the strategy choice by one player changes
strategy ... | finance |
3,789 | A Contextual Model Of The Secessionist Rebellion in Eastern Ukraine | q-fin.EC | This paper explores the possible contextual factors that drove some
individuals to lead, and others to join the pro-secessionist rebellion in the
2013-2014 conflict in Eastern Ukraine. We expand on the existing rational
choice literature on revolutionary participation and rebellious movements by
building a contextual c... | finance |
3,790 | Incentivizing Resilience in Financial Networks | q-fin.EC | When banks extend loans to each other, they generate a negative externality
in the form of systemic risk. They create a network of interbank exposures by
which they expose other banks to potential insolvency cascades. In this paper,
we show how a regulator can use information about the financial network to
devise a tra... | finance |
3,791 | Note on level r consensus | q-fin.EC | We show that the hierarchy of level $r$ consensus partially collapses. In
particular, any profile $\pi\in \mathcal{P}$ that exhibits consensus of level
$(K-1)!$ around $\succ_0$ in fact exhibits consensus of level $1$ around
$\succ_0$. | finance |
3,792 | Inferring the contiguity matrix for spatial autoregressive analysis with applications to house price prediction | q-fin.EC | Inference methods in traditional statistics, machine learning and data mining
assume that data is generated from an independent and identically distributed
(iid) process. Spatial data exhibits behavior for which the iid assumption must
be relaxed. For example, the standard approach in spatial regression is to
assume th... | finance |
3,793 | Matrix-vector representation of various solution concepts | q-fin.EC | A unified matrix-vector representation is developed of such solution concepts
as the core, the uncovered, the uncaptured, the minimal weakly stable, the
minimal undominated, the minimal dominant and the untrapped sets. We also
propose several new versions of solution sets. | finance |
3,794 | Alternative versions of the global competitive industrial performance ranking constructed by methods from social choice theory | q-fin.EC | The Competitive Industrial Performance index (developed by experts of the
UNIDO) is designed as a measure of national competitiveness. Index is an
aggregate of eight observable variables, representing different dimensions of
competitive industrial performance. | finance |
3,795 | Fair division with divisible and indivisible items | q-fin.EC | In the work the fair division problem for two participants in presence of
both divisible and indivisible items is considered. The set of all divisions is
formally described; it is demonstrated that fair (in terms of Brams and Taylor)
divisions, unlikely the case where all the items are divisible, not always
exist. The ... | finance |
3,796 | Fashion, fads and the popularity of choices: micro-foundations for diffusion consumer theory | q-fin.EC | Knowledge acquisition by consumers is a key process in the diffusion of
innovations. However, in standard theories of the representative agent, agents
do not learn and innovations are adopted instantaneously. Here, we show that in
a discrete choice model where utility-maximising agents with heterogenous
preferences lea... | finance |
3,797 | The Oxford Olympics Study 2016: Cost and Cost Overrun at the Games | q-fin.EC | Given that Olympic Games held over the past decade each have cost USD 8.9
billion on average, the size and financial risks of the Games warrant study.
The objectives of the Oxford Olympics study are to (1) establish the actual
outturn costs of previous Olympic Games in a manner where cost can consistently
be compared a... | finance |
3,798 | Self-organization in a distributed coordination game through heuristic rules | q-fin.EC | In this paper we consider a distributed coordination game played by a large
number of agents with finite information sets, which characterizes emergence of
a single dominant attribute out of a large number of competitors. Formally, $N$
agents play a coordination game repeatedly which has exactly $N$ Nash
equilibria and... | finance |
3,799 | Multidimensional Polarization Index and its Application to an Analysis of the Russian State Duma | q-fin.EC | The multidimensional extension of the Aleskerov-Golubenko polarization index
is developed. Several versions of the polarization index are proposed based on
different distance functions. Basic properties of the index are examined. | finance |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.