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  • Engineering General
  • D90
  • 2020-2020
  • 1995-1999  (4)
  • 1999  (4)
  • 1
    Digitale Medien
    Digitale Medien
    Optimal accumulation in a small open economy with technological uncertainty (1999)
    Springer
    Economic theory 13 (1999), S. 207-219 
    Details
    ISSN: 1432-0479
    Schlagwort(e): JEL Classification Numbers: C61 ; D90 ; O41.
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Wirtschaftswissenschaften
    Notizen: Summary. This paper analyzes the optimal allocation problem of a small trading country facing an uncertain technology. It is involved in production of many commodities. Differentiability cannot be guaranteed, hence, the Ramsey-Euler condition of optimality needs to be modified. From the optimality criterion, we derive a pair of conditions, which does not require differentiability. If “enough” uncertainty is allowed, the sequence of the distribution functions of investment expenditure converges uniformly to a unique invariant measure. In addition to the weak convergence of the stochastic process of investment expenditure we also have the sequences of the stochastic process of investment expenditure converging weakly.
    Materialart: Digitale Medien
    URL: http://dx.doi.org/10.1007/s001990050249
    Standort Signatur Erwartet Verfügbarkeit
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    Artikel (Nationallizenzen)
    Volltext
  • 2
    Digitale Medien
    Digitale Medien
    Eliciting individual discount rates (1999)
    Springer
    Experimental economics 2 (1999), S. 107-127 
    Details
    ISSN: 1573-6938
    Schlagwort(e): experimental economics ; discount rates ; censored dependent variable ; C91 ; D90
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Wirtschaftswissenschaften
    Notizen: Abstract Controlled laboratory conditions using monetary incentives have been utilized in previous studies that examine individual discount rates, and researchers have found several apparently robust anomalies. We conjecture that subject behavior in these experiments may be affected by (uncontrolled) factors other than discount rates. We address some experimental design issues and report a new series of experiments designed to elicit individual discount rates. Our primary treatments include: (i) informing subjects of the annual and effective interest rates associated with alternative payment streams, and (ii) informing subjects of current market interest rates. We also test for the effect of real (vs. hypothetical) payments and for the effect of delaying both payment options (vs. offering an immediate payment option). The statistical analysis uses censored data techniques to account for the interactions between field and lab incentives. Each of the information treatments appears to reduce revealed discount rates. When both types of information are provided, annual rates in the interval of 15%–17.5% are revealed, whereas rates of 20%–25% are revealed in the control session. Each of the treatments also lowers the residual variance of subject responses.
    Materialart: Digitale Medien
    URL: http://dx.doi.org/10.1007/BF01673482
    Standort Signatur Erwartet Verfügbarkeit
    BibTip Andere fanden auch interessant ...
    Artikel (Nationallizenzen)
    Volltext
  • 3
    Digitale Medien
    Digitale Medien
    Infinite-horizon competitive programs are optimal (1999)
    Springer
    Journal of economics 69 (1999), S. 217-238 
    Details
    ISSN: 1617-7134
    Schlagwort(e): optimal programs ; competitive conditions ; transversality condition ; intertemporal decentralization ; C61 ; D90 ; O41
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Wirtschaftswissenschaften
    Notizen: Abstract For infinite-horizon optimal-growth problems the standard result in the literature says that a program is optimal if and only if associated with it is a sequence of present-value prices at which the program satisfies (i) a set of myopic “competitive conditions,” and (ii) an asymptotic “transversality condition”. The principal result of this paper points out the interesting and surprising fact that at least for a class of multisector models where the production side is described by a simple linear model, and there are some limiting primary factors, the competitive conditions alone characterize an optimal program.
    Materialart: Digitale Medien
    URL: http://dx.doi.org/10.1007/BF01231160
    Standort Signatur Erwartet Verfügbarkeit
    BibTip Andere fanden auch interessant ...
    Artikel (Nationallizenzen)
    Volltext
  • 4
    Digitale Medien
    Digitale Medien
    On the equivalence between the overlapping-generations model and cyclical general-equilibrium models (1999)
    Springer
    Journal of economics 70 (1999), S. 187-207 
    Details
    ISSN: 1617-7134
    Schlagwort(e): overlapping generations ; general equilibrium ; cycles ; D51 ; D90 ; E32
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Wirtschaftswissenschaften
    Notizen: Abstract We show that equilibrium cycles in an overlapping-generations model are equivalent to asymmetric equilibria in a general-equilibrium model. We use this equivalence to find equilibrium cycles in the overlapping-generations model with two and three generations, respectively. For the example with two generations we show that for certain parameter values cycles of all periods occur.
    Materialart: Digitale Medien
    URL: http://dx.doi.org/10.1007/BF01224768
    Standort Signatur Erwartet Verfügbarkeit
    BibTip Andere fanden auch interessant ...
    Artikel (Nationallizenzen)
    Volltext
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