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Seminars in Economics Jaap Abbring (Tilburg University)

"Simple Markov-Perfect Industry Dynamics" Abstract This paper develops a tractable model for the computational and empirical analysis of infinite-horizon oligopoly dynamics. It features aggregate demand uncertainty, sunk entry costs, stochastic idiosyncratic technological progress, and irreversible exit. We develop an algorithm for computing a symmetric Markov-perfect equilibrium quickly by finding the fixed points to a finite…

Monday Lunch Seminars Francesca Molinari (Cornell University)

"Inference for Best Linear Approximations to Set Identified Functions" Abstract: This paper provides inference methods for best linear approximations to functions which are known to lie within a band. It extends the partial identification literature by allowing the upper and lower functions defining the band to be any functions, including ones carrying an index, which…

Monday Lunch Seminars Antonio Nicolò (Universita di Padova)

"On the Efficiency of Partial Information in Elections" We study the relation between the electorate’s information about candidates’ policy platforms during an election, and the subsequent provision of inefficient local publicgoods (pork) by the elected government. More information does not lead to better outcomes. We show that the efficient outcome in which no candidate proposes…

Monday Lunch Seminars Aleksey Tetenov (Collegio Carlo Alberto)

"Price as a signal of product quality: experimental evidence from wine tastings" Abstract:We study the determinants of the choice between wines in wine tasting experiments where about 200 nonprofessional tasters were asked to indicate which one of the tasted wines they preferred and which one they would buy. In addition to actually tasting several wines, which differ in terms…

Seminars in Statistics Sergio Bacallado (Stanford University)

A Bayesian analysis of reversible time series with an uncertain length of memory We propose a Bayesian analysis of reversible time series using a Probabilistic Suffix Automaton (PSA) model. We show that PSAs have a representation as higher-order Markov chains, and that the class of reversible PSAs generalize reversible variable-order Markov chains. The analysis uses…

Piet Sercu (KU Leuven)

"Estimating the Elasticity of Intertemporal Substitution: Results from an International Panel"

Distinguished Scientific Lectures 2011 Vilfredo Pareto Conference

"International Capital Markets and the World Economy after the Crisis" 12 pm: Ricardo Caballero (Massachusetts Institute of Technology) "Asset Shortages and the World Economy" Lecture Video 3 pm: Filippo Taddei (Collegio Carlo Alberto) "International Capital Flows under Credit Market Imperfections" Lecture Video