Browsing by Subject "MATHEMATICAL AND QUANTITATIVE METHODS"
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A Behavioral Foundation for Models of Evolutionary Drift
(200507)Binmore and Samuelson (1999) have shown that perturbations (drift) are crucial to study the stability properties of Nash equilibria. We contribute to this literature by providing a behavioural foundation for models of ... 
A common axiom for classical division rules for claims problems
(Departamento de Economía Aplicada IV, UPV/EHU, 2015)In this paper we introduce a new axiom, denoted claims separability, that is satisfied by several classical division rules defined for claims problems. We characterize axiomatically the entire family of division rules that ... 
A factor model of seasonality in stock returns
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)Most empirical evidence on stock market seasonality is based on the Dummy Variable Approach (DVA). Typically, the DVA leaves too much variability of stock returns unexplained and inference usually leads to weak or null ... 
A Fundamental Contradiction in Keynes' Conception of Income
(200302)I contend that Keynes provides two contradictory definitions of aggregate income. According to the first definition, which is the dominant in Keynes as well as the standard in current Macroeconomics, the full value of ... 
A GameTheoreteic Analysis of Minority Language Use in Multilingual Societies
(Departamento Fundamentos del Análisis Económico I, 201510)This chapter studies multilingual democratic societies with highly developed economies. These societies are assumed to have two languages with official status: language A, spoken by every individual, and language B, spoken ... 
A Marginalist Model of Network Formation
(Departamento de Fundamentos del Análisis Económico I, UPV/EHU, 20160818)We develop a networkformation model where the quality of a link depends on the amount invested in it and is determined by a linkformation "technology" , an increasing strictly concave function which is the only exogenous ... 
A monotonic core concept for convex games: The SDprenucleolus
(Departamento de Fundamentos dle Análisis Económico I, 20130226)We prove that the SDprenucleolus satisfies monotonicity in the class of convex games. The SDprenucleolus is thus the only known continuous core concept that satisfies monotonicity for convex games. We also prove that for ... 
A new solution for the roommate problem: The Qstable matchings
(Departamento de Fundamentos del Análisis Económico I, 20140916)The aim of this paper is to propose a new solution for the roommate problem with strict preferences. We introduce the solution of maximum irreversibility and consider almost stable matchings (Abraham et al. [2])and maximum ... 
A noncooperative view on two consistent aiport cost sharing rules
(200607)This paper provides a noncooperative understanding of the nucleolus and the egalitarian allocation for airport cost problems. We find that every Nash equilibrium of the noncooperative game has the nucleolus as outcome while ... 
A note on bargaining power and managerial delegation in multimarket oligopolies
(University of the Basque Country, Department of Foundations of Economic Analysis II, 201211)In a twostage delegation game model with Nash bargaining between a manager and an owner, an equivalence result is found between this game and Fershtman and Judd's strategic delegation game (Fershtman and Judd, 1987). ... 
A note on collusion sustainability with optimal punishments and detection lags
(University of the Basque Country, Department of Foundations of Economic Analysis II, 200809)In this note we characterize optimal punishments with detection lags when the market consists of n oligopolistic firms. We extend a previous note by Colombo and Labrecciosa (2006) [Colombo, L., and Labrecciosa, P., 2006. ... 
A note on LopezHernandez procedure: New nonhierarchical algorithms in classification of data
(200003)[EN] In this short note, we make a critique about the procedure developed in the Inductive Algorithm in the Objects of LopezHernandez (1997). It is well known that the determination of maximal cliques in a graph is an ... 
A note on the implementation of the BFCMSMIP algorithm in C++ by using COINOR as an optimization engine
(2010)The aim of this technical report is to present some detailed explanations in order to help to understand and use the algorithm Branch and Fix Coordination for solving MultiStage Mixed Integer Problems (BFC MSMIP). We have ... 
A Note on Wavelet Correlation and Cointegration
(201311)In a recent paper LeongHuang:2010 {Journal of Applied Statistics 37, 215–233} proposed a waveletcorrelationbased approach to test for cointegration between two time series. However, correlation and cointegration are ... 
A potential approach to claims problems
(Departamento de Economía Aplicada IV, UPV/EHU, 2015)Hart and Mas Colell (1989) introduce the potential function for cooperative TU games. In this paper, we extend this approach to claims problems, also known as bankruptcy or rationing problems. We show that for appropriate ... 
A Semiparametric Estimation of Liquidity Effects on Option Pricing
(199909)This paper proposes a semiparametric option pricing model with liquidity, as proxied by the relative bidask spread. The nonparametric volatility function with liquidity as an explanatory variable is estimated using the ... 
A time varying coefficient model for panel data: Foreign Direct Investment in European OECD countries
(200704)The present article reexamines some of the issues regarding the KnowledgeCapital Model that encompasses both horizontal and vertical Foreign Direct Investment described in detail in the literature. The empirical support ... 
A Unifying model of strategic network formation
(Departamento de Fundamentos del Análisis Económico I, UPV/EHU, 20150217)We provide a model that merges two basic models of strategic network formation and incorporates them as extreme cases: Jackson and Wolinsky' s connections model based on bilateral formation of links, and Bala and Goyal' s ... 
Absorbing Sets in Coalitional Systems
(200112)The purpose of this paper is twofold: First, to present an approach and a solution for analyzing the stability of coalition structures: We define a coalitional system (a set and a binary relation on that set) that explains ... 
Admissible Hierachic Sets
(200505)In this paper we present a solution concept for abstract systems called the admissible hierarchic set. The solution we propose is a refinement of the hierarchic solution, a generalization of the von Neumann and Morgenstern ...