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  • 1
    Journal cover
    Cambridge University Press
    Online: 1.1986 – 21.2004
    Publisher: Cambridge University Press
    Print ISSN: 0951-0079
    Topics: Economics
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  • 2
    Publication Date: 2018-06-18
    Description: We investigate the estimation of models of dynamic discrete-choice games of incomplete information, formulating the maximum-likelihood estimation exercise as a constrained optimization problem that can be solved using state-of-the-art constrained optimization solvers. Under the assumption that only one equilibrium is played in the data, our approach avoids repeatedly solving the dynamic game or finding all equilibria for each candidate vector of the structural parameters. We conduct Monte Carlo experiments to investigate the numerical performance and finite-sample properties of the constrained optimization approach for computing the maximum-likelihood estimator, the two-step pseudo-maximum-likelihood estimator, and the nested pseudo-likelihood estimator, implemented by both the nested pseudo-likelihood algorithm and a modified nested pseudo-likelihood algorithm.
    Keywords: ddc:330 ; Dynamic discrete-choice games of incomplete information ; maximum-likelihood estimator ; constrained optimization ; nested pseudo-likelihood estimator
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:article
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  • 3
    Publication Date: 2018-06-28
    Description: This paper presents both theoretical analysis and econometric evidence for the United States, Great Britain and Norway on the extent to which hourly wages of different groups of workers are sensitive to local labour market conditions. We focus on differences by union status. Our theoretical framework captures both a turnover-based efficiency wage mechanism and one originating in union-firm bargaining. Under fairly general conditions, we show that wages are less sensitive to local unemployment the higher is the bargaining power of the union. In accordance with this theoretical prediction, we find that the absolute value of the elasticity of wages with respect to unemployment is higher in the nonunion sector than in the union sector for all three countries. We interpret the evidence as giving support to an efficiency wage interpretation of the wage curve.
    Keywords: J31 ; J41 ; J51 ; ddc:330 ; Wage curves ; efficiency wages ; bargaining ; Lohnniveau ; Effizienzlohn ; Lohntheorie ; Vergleich ; USA ; Großbritannien ; Norwegen
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 4
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2017-02-21
    Description: Using unique survey data from the German Socio-Economic Panel, this study examines the influence of reciprocal inclinations on workers' sorting into codetermined firms. Employees with strong negative reciprocal inclinations are more likely to work in firms with a works council while employees with strong positive reciprocal inclinations are less likely to work in such firms. We argue that these findings conform to hypotheses derived from the experimental literature. Moreover, the results showstriking gender differences in the relationship between reciprocity and taste for representation. These differences can be partially explained by gender-specific differences in the average degree of labor force attachment.
    Keywords: D3 ; J52 ; J53 ; M50 ; ddc:330 ; Works council ; negative reciprocity ; positive reciprocity ; sorting ; gender ; Arbeitskräfte ; Präferenztheorie ; Betriebsrat ; Austauschtheorie ; Geschlecht ; Deutschland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 5
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    Düsseldorf: Hans-Böckler-Stiftung, Wirtschafts- und Sozialwissenschaftliches Institut (WSI)
    Publication Date: 2018-06-27
    Description: In economics and other social sciences, complex processes are often represented by numerical models of reality which more or less well reflect behavioral relationships and interactions. Such attempts are the subject of a lecture course 'Mathematical Theory of Democracy' by the author at the Faculty of Economics of the Karlsruhe Institute of Technology. One new result in this field is presented here in the form of a statistical test to decide whether a political party or coalition of parties represents a majority of the population. For this purpose, party or coalition positions on a sample of policy issues, like introduction of a legal nationwide minimum wage, privatization of railways, and others, are compared with the results of public opinion polls on the same issues. The test is based on estimating the statistical significance of the coincidence observed (i.e. how likely is the coincidence by chance) to the end of accepting or rejecting the representativeness hypothesis. The test is developed for single parties and coalitions of two or three parties. It is illustrated with an estimation of representativeness of five major German parties and their potential coalitions basing on the official party manifestos published before the German parliamentary elections 2009 and on relevant polls of public opinion.
    Description: In der Ökonomie und den anderen Sozialwissenschaften wird immer wieder versucht, komplexe Prozesse der Wirklichkeit durch numerische Modelle abzubilden - was mit Abstraktionen für z. B. Verhaltens- und Wirkungsrelationen mehr oder weniger gut gelingt. Solche Versuche sind Gegenstand einer Vorlesungsreihe 'Mathematische Theorie der Demokratie' des Autors an der Wirtschaftswissenschaftlichen Fakultät des Karlsruhe Institut für Technologie. Ein neues Ergebnis in diesem Bereich wird hier vorgelegt in Form eines statistischen Tests, der entscheiden soll, ob eine politische Partei oder eine Parteienkoalition repräsentativ im Sinn der Bevölkerungsmehrheit agiert. Zu diesem Zweck wird die Übereinstimmung von Parteien- oder Koalitionspositionen mit Ergebnissen von Meinungsumfragen in der Bevölkerung verglichen, etwa zur Einführung eines bundesweiten gesetzlichen Mindestlohns oder der Privatisierung des Schienenverkehrs und anderem mehr. Der Test basiert auf der Einschätzung der statistischen Signifikanz der beobachteten Übereinstimmung (d.h. wie wahrscheinlich ist eine nur zufällige Übereinstimmung), um die Hypothese von der Repräsentativität der Politik zu akzeptieren oder abzulehnen. Die Studie spielt die Repräsentativität von einzelnen Parteien sowie von Zweier- und Dreier-Koalitionen durch. Darunter ist auch die Konstellation der fünf großen deutschen Parteien und ihrer potentiell möglichen Koalitionen auf der Basis der Bundestagswahl von 2009.
    Keywords: C12 ; C44 ; C63 ; D71 ; D72 ; ddc:330 ; mathematical theory of democracy ; statistical test ; parties ; coalitions ; representativeness ; Bernoulli matrices ; sums of random vectors ; Demokratie ; Politische Partei ; Öffentliche Meinung ; Wahlverhalten ; Deutschland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 6
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    GEOMAR Research Center for Marine Geosciences Christian-Albrechts-University in Kiel
    In:  GEOMAR Research Center for Marine Geosciences Christian-Albrechts-University in Kiel, Kiel, 245 pp.
    Publication Date: 2014-12-09
    Description: The circulation of gases and aqueous fluids, as well as the abundance of gas hydrates in convergent margin scenarios, play a significant role in global mass balances. Hence, the study of these processes with various techniques has become a major objective in geosciences research during the previous decade. The main focus of the research expedition HYDGAS during cruise Sonne SO-150 was the qualification and quantification of massive gas hydrates in the sediment using seismic methods. Gas hydrates, or clathrates, are ice-like crystals of gases (predominantly methane) and water, which occur in various forms in subseafloor sediments. According to global estimates, the carbon fixed in such gas hydrates exceeds by far the amount of presently discovered oil and gas occurrences. Thus, gas hydrate research is of both scientific, economic, and environmental importance. The continental margin off Oregon, where the Juan de Fuca Plate is subducted beneath the North American continental plate, is a well studied area which is characterized by its wealth of clathrates and hydrate-related deposits. Within the accumulated sediment of the upper subduction zone, the so called Cascadia accretionary prism, massive gashydrates and associated chemical anomalies (brines), their chemical oxidization products (authigenic carbonate), and typical fauna assemblages related to methane-rich fluids have been previously reported. Apart from shedding more light on the principal understanding of gas hydrate environments, the main aim of the HYDGAS expedition is an estimate of gas hydrate quantities, their potential economic relevance in the future, and the risk of environmental hazards (submarine slides, release of greenhouse gases into the atmosphere) from gas hydrate dissociation. During cruise Sonne SO-150 , improved geophysical methods were used to identify and quantify the spatial variation of gas hydrates across Hydrate Ridge. Narrowly spaced receivers on the seafloor (approximately 200 m apart), shallow and deep towed systems, and a broad range of source frequencies (5 Hz to 2 kHz) were used to guarantee pristine data quality. Here, special attention will be given to parameters which will assist in gas hydrate identification and quantification. The new geophysical data will be compared and calibrated using the results from direct measurements on recovered core as well as along the borehole wall (downhole logging) at ODP Site 892. Calibration of the geophysical information will allow us to optimize data processing and interpretation. The results from cruise Sonne SO-150 will significantly broaden the understanding of seismic signals in hydrate-bearing sediments, and thus will add a quantitative component to the overall gas hydrate research. Five receiver assemblages in three locations, at Site 892 (ODP Leg 146) and at two future ODP drillsites (ODP Leg 204, scheduled for autumn 2002), provided a wealth of data from 5 different sources used. During intervals of data retrieval and OBH/OBS refitting, a total of 1490 km of seismic reflection profiles were acquired using five different source (broad frequency range) and three different streamer (surface and deep tow) configurations. The narrowly spaced grid of seismic reflexion and Parasound lines permits us to tie in the results from the receiver experiments for quantitative estimates.
    Type: Report , NonPeerReviewed
    Format: text
    Format: text
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