Results 71 to 80 of about 50,466 (234)
How Does Progressivity Affect the Tax Cut Multiplier?
International Economic Review, EarlyView.ABSTRACT How does the targeting of personal income tax cuts affect the output multiplier? This paper provides quantitative evidence using a heterogeneous‐agent New‐Keynesian model calibrated to match US distributions of income, wealth, marginal tax rates, and marginal propensities to consume.
Christian Gillitzer
wiley +1 more source
IEEE Photonics Journal, 2020 In multiuser optical wireless communications (OWC), the multiuser interference becomes significant as the number of users increases. This would lead to a poor quality of service with a low signal-to-interference-plus-noise-ratio (SINR) or even a failure ...
Sudhanshu Arya, Yeon Ho Chung
doaj +1 more source
Bargaining and the theory of cooperative games: John Nash and beyond [PDF]
This essay surveys the literature on the axiomatic model of bargaining formulated by Nash ("The Bargaining Problem," Econometrica 28, 1950, 155-162).Nash's bargaining model, Nash solution, Kalai-Smorodinsky solution, Egalitarian ...
William Thomson
core
Liquidity Crises and the Market‐Maker of Last Resort
Journal of Money, Credit and Banking, EarlyView.Abstract We study market illiquidity in an economy subject to nonfundamental shocks. Asset trading occurs via decentralized bargaining. The model has multiple rational expectations equilibria; we associate certain Pareto‐inferior equilibria with liquidity crises.
CHARLES M. KAHN +2 more
wiley +1 more source
What Price Compromise? Testing a Possibly Surprising Implication of Nash Bargaining Theory [PDF]
This paper identifies, and tests experimentally, a prediction of Nash Bargaining Theory that may appear counterintuitive. The context is a simple bargaining problem in which two players have to agree a choice from three alternatives.
John Bone, John D Hey, John Suckling
core
Policy Biases in a Model with Labor‐Market Frictions
Journal of Money, Credit and Banking, EarlyView.Abstract We develop a model with labor‐market matching frictions that is subject to a range of shocks, including shocks to matching efficiency and bargaining power, and use the model to examine how monetary policy should respond to such shocks. We show that optimal monetary policy responds effectively to these shocks, producing economic outcomes that ...
RICHARD DENNIS, TATIANA KIRSANOVA
wiley +1 more source
Consider an n-person Nash Bargaining problem where players bargain over the division of a cake whose size is stochastic. In such a game, the players are not only bargaining for more cake, but they are also sharing risk.
David R. Baqaee
core
The Nash bargaining solution is optimal [PDF]
Journal of Economic Theory, 1986 The author studies the classical two-person bargaining game. The set F consists of all bargaining solutions that satisfy the following known axioms: Pareto optimality, scale invariance, symmetry and risk sensitivity. It is proved that for any bargaining game S the set \(\{\) f(S): \(f\in S\}\) is closed and connected. A meta bargaining game \(\Gamma\) (
openaire +4 more sources
Innovation, Licensing, and Competition: Evidence From Genetically Engineered Crops
The Journal of Industrial Economics, EarlyView.ABSTRACT We provide a novel empirical analysis of the role of technology licensing, between competitors, for genetically engineered (GE) traits in the US seed industry. We extend the standard differentiated‐product Bertrand pricing model to include trait licensing, which permits us to recover marginal costs and (otherwise unobserved) royalty rates ...
GianCarlo Moschini, Edward D. Perry
wiley +1 more source
What Price Compromise? Testing a Possibly Surprising Impliction of Nash Bargaining Theory [PDF]
This paper provides a very simple experimental test of a prediction of Nash Bargaining Theory that seems counterintuitive. The context is a simple bargaining problem between two players who have to agree a choice from three alternatives.
John Bone, John Hey, John Suckling
core