Results 1  10
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11,077
A General Theory of Equilibrium Selection in Games.
, 1988
"... Abstract This paper presents a Downsian model of political competition in which parties have incomplete but richer information than voters on policy effects. Each party can observe a private signal of the policy effects, while voters cannot. In this setting, voters infer the policy effects from the ..."
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Cited by 734 (4 self)
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of the Median Voter Theorem in the classical Downsian model. Our equilibrium analysis suggests similarity between the set of WPBEs in this model and the set of uniformly perfect equilibria of Harsanyi and Selten (1988) in the model with completely informed parties which we studied in a previous paper
An equilibrium characterization of the term structure.
 J. Financial Econometrics
, 1977
"... The paper derives a general form of the term structure of interest rates. The following assumptions are made: (A.l) The instantaneous (spot) interest rate follows a diffusion process; (A.2) the price of a discount bond depends only on the spot rate over its term; and (A.3) the market is efficient. ..."
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Cited by 1041 (0 self)
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The paper derives a general form of the term structure of interest rates. The following assumptions are made: (A.l) The instantaneous (spot) interest rate follows a diffusion process; (A.2) the price of a discount bond depends only on the spot rate over its term; and (A.3) the market is efficient
The Cyclical Behavior of Equilibrium Unemployment and Vacancies
 American Economic Review
, 2005
"... This paper argues that a broad class of search models cannot generate the observed businesscyclefrequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the U.S., the vacancyunemployment ratio is 20 times as volatile as average labor productivity ..."
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Cited by 871 (23 self)
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productivity, while under weak assumptions, search models predict that the vacancyunemployment ratio and labor productivity have nearly the same variance. I establish this claim both using analytical comparative statics in a very general deterministic search model and using simulations of a stochastic version
On the Private Provision of Public Goods
 Journal of Public Economics
, 1986
"... We consider a general model of the noncooperative provision of a public good. Under very weak assumptions there will always exist a unique Nash equilibrium in our model. A small redistribution of wealth among the contributing consumers will not change the equilibrium amount of the public good. Howe ..."
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Cited by 564 (9 self)
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We consider a general model of the noncooperative provision of a public good. Under very weak assumptions there will always exist a unique Nash equilibrium in our model. A small redistribution of wealth among the contributing consumers will not change the equilibrium amount of the public good
The Equity Premium: A Puzzle
 Journal of Monetary Economics
, 1985
"... Restrictions that a class of general equilibrium models place upon the average returns of equity and Treasury bills are found to be strongly violated by the U.S. data in the 18891978 period. This result is robust to model specification and measurement problems. We conclude that, most likely, an equ ..."
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Cited by 1751 (40 self)
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Restrictions that a class of general equilibrium models place upon the average returns of equity and Treasury bills are found to be strongly violated by the U.S. data in the 18891978 period. This result is robust to model specification and measurement problems. We conclude that, most likely
Optimal contracts and competitive markets with costly state verification
 Journal of Economic Theory
, 1979
"... The insight of Arrow [4] and Debreu [7] that uncertainty is easily incorporated into general equilibrium models is doubleedged. It is true that one need only index commodities by the state of nature, and classical results on the existence and optimality of competitive equilibria can be made to ..."
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Cited by 879 (8 self)
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The insight of Arrow [4] and Debreu [7] that uncertainty is easily incorporated into general equilibrium models is doubleedged. It is true that one need only index commodities by the state of nature, and classical results on the existence and optimality of competitive equilibria can be made to
A New Extension of the Kalman Filter to Nonlinear Systems
, 1997
"... The Kalman filter(KF) is one of the most widely used methods for tracking and estimation due to its simplicity, optimality, tractability and robustness. However, the application of the KF to nonlinear systems can be difficult. The most common approach is to use the Extended Kalman Filter (EKF) which ..."
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Cited by 778 (6 self)
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) which simply linearises all nonlinear models so that the traditional linear Kalman filter can be applied. Although the EKF (in its many forms) is a widely used filtering strategy, over thirty years of experience with it has led to a general consensus within the tracking and control community
The impact of trade on IntraIndustry reallocations and aggregate industry productivity.
 Econometrica,
, 2003
"... This paper develops a dynamic industry model with heterogeneous firms to analyze the intraindustry effects of international trade. The model shows how the exposure to trade will induce only the more productive firms to enter the export market (while some less productive firms continue to produce o ..."
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Cited by 1584 (22 self)
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productivity growth generated by the reallocations contributes to a welfare gain, thus highlighting a benefit from trade that has not been examined theoretically before. The paper adapts Hopenhayn's (1992a) dynamic industry model to monopolistic competition in a general equilibrium setting. In so doing
Charging and rate control for elastic traffic
 European Transactions on Telecommunications
, 1997
"... This paper addresses the issues of charging, rate control and routing for a communication network carrying elastic traffic, such as an ATM network offering an available bit rate service. A model is described from which max–min fairness of rates emerges as a limiting special case; more generally, the ..."
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Cited by 936 (7 self)
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This paper addresses the issues of charging, rate control and routing for a communication network carrying elastic traffic, such as an ATM network offering an available bit rate service. A model is described from which max–min fairness of rates emerges as a limiting special case; more generally
Results 1  10
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11,077