Now showing items 53-72 of 83 starting with P

    • Partial knowledge restrictions on the two-stage threshold model of choice 

      Manzini, Paola; Mariotti, Marco; Tyson, Christopher J. (2016-05) - Journal article
      In the context of the two-stage threshold model of decision making, with the agent's choices determined by the interaction of three "structural variables," we study the restrictions on behavior that arise when one or more ...
    • Penalizing cartels : the case for basing penalties on the price overcharge 

      Katsoulacos, Yannis; Motchenkova, Evgenia; Ulph, David Tregear (2015-09) - Journal article
      In this paper we set out the welfare economics based case for imposing cartel penalties on the cartel overcharge rather than on the more conventional bases of revenue or profits (illegal gains). To do this we undertake a ...
    • Preferential votes and minority representation in open list proportional representation systems 

      Negri, Margherita (2018-02) - Journal article
      Under open list proportional representation, voters vote both for a party and for some candidates within its list (preferential vote). Seats are assigned to parties in proportion to their votes and, within parties, to the ...
    • Prices and deadweight loss in multiproduct monopoly 

      Amir, Rabah; Jin, Jim Yongtao; Pech, Gerald; Tröge, Michael (2016-06) - Journal article
      The paper investigates prices and deadweight loss in multiproduct monopoly with linear interrelated demand and constant marginal costs. We show that, with commonly used models for linear demand such as the Bowley demand ...
    • Procedures for eliciting time preferences 

      Freeman, David; Manzini, Paola; Mariotti, Marco; Mittone, Luigi (2016-06) - Journal article
      We study three procedures to elicit attitudes towards delayed payments: the Becker-DeGroot-Marschak procedure; the second price auction; and the multiple price list. The payment mechanisms associated with these methods are ...
    • R&D cyclicality and composition effects : a unifying approach 

      Chernyshev, Nikolay (2017-09-27) - Working or discussion paper
      Existing empirical studies do not concur on whether R&D spending is procyclical or countercyclical: the former hypothesis is supported by studies of aggregate R&D spending, whereas the latter is vindicated by firm-level ...
    • Rationally inattentive preferences and hidden information costs 

      de Oliveira, Henrique; Denti, Tommaso; Mihm, Maximilian; Ozbek, Kemal (2017-05-26) - Journal article
      We show how information acquisition costs can be identified using observable choice data. Identifying information costs from behavior is especially relevant when these costs depend on factors–such as time, effort and ...
    • Relative equity market valuation conditions and acquirers’ gains 

      Barbopoulos, Leonidas; Andriosopoulos, Dimitris (2017-10) - Journal article
      We examine whether the relative equity market valuation conditions (EMVCs) in the countries of merging firms help acquirers’ managers to time the announcements of both domestic and foreign targets. After controlling for ...
    • Renormalization method and its economic applications 

      Briec, Walter; Lasselle, Laurence (School of Economics and Finance, University of St Andrews., 2001) - Working or discussion paper
      The purpose of this paper is to give new insights of the method of Helleman (1980) in the context of macrodynamics. This method explains how a difference equation can be locally studied from the Feigenbaum equation in ...
    • Representing a democratic constituency in negotiations : delegation versus ratification 

      Cardona, D.; Ponsatí, C. (2015) - Journal article
      We consider negotiations where one of the parties is a group that must send a representative to the bargaining table. We examine the trade-offs that the group faces in choosing between two different regimes for this ...
    • Revisiting the optimal linear income tax with categorical transfers 

      Slack, Sean Edward (2015-09) - Journal article
      When individuals differ in both productivity and some categorical attribute, optimal linear/piecewise-linear tax expressions are written to capture cases where it is suboptimal to eliminate inequality in the average social ...
    • Satisficing choice procedures 

      Papi, Mauro (2012-09) - Journal article
      Standard choice theory assumes that the budget set is known to the decision-maker in advance. In contrast, we develop a model in which alternatives are examined sequentially and decision-makers exhibit `satisficing' ...
    • Sequential action and beliefs under partially observable DSGE environments 

      Kim, Seong-Hoon (2012) - Journal article
      This paper introduces a classification of DSGEs from a Markovian perspective, and positions the class of POMDP (Partially Observable Markov Decision Process) to the center of a generalization of linear rational expectations ...
    • Size invariant measures of association : characterization and difficulties 

      Negri, Margherita; Sprumont, Yves (2015-05) - Journal article
      A measure of association on cross-classification tables is row-size invariant if it is unaffected by the multiplication of all entries in a row by the same positive number. It is class-size invariant if it is unaffected ...
    • Social groups and credit shocks : evidence of inequalities in consumption smoothing 

      Saxena, Vibhor; Bindal, Ishaan; LeMay-Boucher, Philippe (University of St Andrews, 2019-01-31) - Working or discussion paper
      A strand of research holds the view that restricting access to credit to regulate over-borrowing can worsen consumers’ financial condition. Another strand of research holds the view that access to credit in the developing ...
    • Solving asset pricing models with stochastic volatility 

      de Groot, Oliver (2015-03) - Journal article
      This paper provides a closed-form solution for the price-dividend ratio in a standard asset pricing model with stochastic volatility. The growth rate of the endowment is a first-order Gaussian autoregression, while the ...
    • Spatial takeoff in the first industrial revolution 

      Trew, Alex William (University of St Andrews, 2014-01) - Working or discussion paper
      Using the framework of Desmet and Rossi-Hansberg (forthcoming), we present a model of spatial takeoff that is calibrated using spatially-disaggregated occupational data for England in c.1710. The model predicts changes in ...
    • Stabilization and commitment : forward guidance in economies with rational expectations 

      Hughes Hallett, Andrew; Acocella, Nicola (2018-01) - Journal article
      We construct a theory of forward guidance in economic policy making in order to provide a framework for explaining the role and strategic advantages of including forward guidance as an explicit part of policy design. We ...
    • State dependent choice 

      Manzini, Paola; Mariotti, Marco (2015-09) - Journal article
      We propose a theory of choices that are influenced by the psychological state of the agent. The central hypothesis is that the psychological state controls the urgency of the attributes sought by the decision maker in the ...
    • Subjective well-being, peer comparisons and optimal income taxation 

      Ulph, David; Slack, Sean Edward (University of St Andrews, 2016-11-23) - Working or discussion paper
      Empirical evidence suggests that an important determinant of subjective well-being is how an individual’s consumption compares with that of their immediate peers. We introduce peer comparisons into the standard optimal tax ...