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  • 1
    Electronic Resource
    Electronic Resource
    Springer
    Economic theory 4 (1994), S. 131-162 
    ISSN: 1432-0479
    Keywords: Adaptive learning ; monetary policy ; experimental economics ; indeterminacy ; rational expectations ; C62 ; C92 ; E17 ; E32 ; E44
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary We design and analyze experimental versions of monetary overlapping generations economies under alternative policy regimes. Economies with a constant level of real deficit financed through seignorage, economies in which the level of deficit is adapted in order to follow a monetary policy with a target rate of inflation, and economies with preannounced changes in deficit levels are reported here. We also examine the behavior of an economy with no stationary competitive equilibrium. Our time series are compared to rational expectations equilibrium paths and to adaptive learning dynamics.
    Type of Medium: Electronic Resource
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  • 2
    Electronic Resource
    Electronic Resource
    Springer
    Review of accounting studies 3 (1998), S. 7-34 
    ISSN: 1573-7136
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract When the Revelation Principle (RP) holds, managing earnings confers no advantage over revelation. We construct an explanation for earnings management that is based on limitations on owners' ability to make commitments (a violation of the RP's assumptions). Traditionally, earnings management is seen as sneaky managers pulling the wool over the eyes of gullible owners by manipulating accruals; our limited commitment story suggests that the owners, too, can benefit from earnings management. We categorize a variety of extant explanations of earnings management, along with our own, according to which of the assumptions of the RP each explanation violates. Plausibility of multiple simultaneous violations of the assumptions, and strategic use of various accounting and real instruments of earnings management, complicate the task of detecting such management in field data.
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  • 3
    Electronic Resource
    Electronic Resource
    Springer
    Empirical economics 19 (1994), S. 255-277 
    ISSN: 1435-8921
    Keywords: C62 ; C92 ; E40 ; E50
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Overlapping generations model of fiat money yields an infinity of competitive equilibrium solutions, only one of which is stationary. Economies reported in this paper involved a sequence of overlapping generations of three or four individuals; each individual lived for two periods. In their young age individuals were endowed with “chips” that could be traded for fiat money wish the individuals of the old generation. In their old age, individuals could exchange their units o flat money for the consumption good. Results of the experiments exhibit some support for the stationary solution. The results are robust to two designs of exchange institutions (double oral auctior and supply schedule auction) and to two different endogenous ways of converting money into “chips” at the end of the game (average price prevailing during the last period the game is actually played and the average price forecast made during the last period the game is actually played).
    Type of Medium: Electronic Resource
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  • 4
    ISSN: 1573-5036
    Keywords: clays ; disease control ; fungicides ; humic acid ; in vitro growth inhibition ; micronutrients ; Rhizoctonia solani
    Source: Springer Online Journal Archives 1860-2000
    Topics: Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition
    Notes: Abstract Activity of nine fungicides against mycelial growth ofRhizoctonia solani in potato dextrose broth and in pot tests as seed treatment against cowpea seedling rot in infested soil was differentially in fluenced by clay minerals, humic acid and micronutrients. Humic acid, extracted from farmyard manure, considerably lowered the activity, bothin vitro andin vivo, of all fungicides except chloroneb. Montmorillonite caused substantial decrease in disease control by fungicides but enhanced the toxicity of 2-methoxyethyl mercury chloride (MEMC), and quintozene in culture. Kaolinite inactivated carbendazim, benomyl and thiophanatemethyl in nutrient broth but had little effect on disease control by these fugicides. The six micronutrients altered the activity of fungicides to varying levels often without definite correlation betweenin vitro andin vivo results. The results ofin vitro growth inhibition tests are largely inapplicable to dieseas control tests in infested soil mainly due to the differences in the ambient conditions of the two systems.
    Type of Medium: Electronic Resource
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  • 5
    Electronic Resource
    Electronic Resource
    Springer
    Computational economics 16 (2000), S. 257-284 
    ISSN: 1572-9974
    Keywords: competitive equilibrium ; convergence ; zero-intelligence traders ; minimal rationality economics
    Source: Springer Online Journal Archives 1860-2000
    Topics: Computer Science , Economics
    Notes: Abstract Economics is the science of want and scarcity. Weshow that want and scarcity, operating within a simpleexchange institution (double auction), can besufficient for an economy consisting of multipleinter-related markets to attain competitiveequilibrium (CE). We generalize Gode and Sunder's(1993a,b) single-market finding to multi-marketeconomies, and explore the role of the scarcityconstraint in convergence of economies to CE. When thescarcity constraint is relaxed by allowingarbitrageurs in middle markets to enter speculativetrades, prices still converge to CE, but allocativeefficiency of the economy declines.Optimization by individual agents, often used toderive competitive equilibria, is unnecessary for anactual economy to approximately attain suchequilibria. From the failure of humans to optimize incomplex tasks, one need not conclude that theequilibria derived from the competitive model aredescriptively irrelevant. We show that even incomplex economic systems which are highly inefficient,such equilibria can be attained under a range ofsurprisingly weak assumptions about agent behavior.
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  • 6
    Publication Date: 1988-09-01
    Print ISSN: 0032-079X
    Electronic ISSN: 1573-5036
    Topics: Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition
    Published by Springer
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  • 7
    Publication Date: 1986-06-01
    Print ISSN: 0255-660X
    Electronic ISSN: 0974-3006
    Topics: Architecture, Civil Engineering, Surveying , Geosciences
    Published by Springer
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