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Transboundary Externalities in the Environmental Transition Hypothesis
(1999-01)
The Environmental Kuznets Curve (EKC) is a hypothesis which implies that it is possible to "grow out of environmental degradation." Most theoretical models of the EKC relation have not accounted for transboundary and ...
Choice of Product Variety for the Durable Goods Monopolist
(1999-01)
This paper analyzes the strategic choice of variety by a monopolist seller of a durable good as a means to mitigate his commitment problem. The monopolist chooses his product variety with a goal of ensuring that a strong ...
Fishing Technology and Optimal Distribution of Harvest Rates
(1999-06)
In this paper we analyze the optimal management of a joint ownership fishery exploitation model where agents use different fishing gears. As opposed to other works, we consider a model in which the fishing technology affects ...
Should Owners of Firms Delegate Long-run Decisions?
(1999-11)
This paper analyzes whether owners of firms have incentives to delegate their long-run decisions to managers or not. The result arising from our analysis shows that owners do have incentives to keep their long-run decisions ...
Finite sample behavior of two step estimators in selection models
(1999-04)
The problem of specification errors in sample selection models has received considerable attention both theoretically and empirically. However, very few is known about the finite sample behavior of two step estimators. In ...
A Semiparametric Estimation of Liquidity Effects on Option Pricing
(1999-09)
This paper proposes a semiparametric option pricing model with liquidity, as proxied by the relative bid-ask spread. The nonparametric volatility function with liquidity as an explanatory variable is estimated using the ...
Time-dependent outside option in an alternating offers bargaining model
(1997)
In this work I consider an alternating offers bargaining model in which a time-dependent outside option is introduced. The purpose of this work is to analyze relationships between S.P.E. utility pairs induced by such a ...
Two-Stage Nonparametric Regression for Longitudinal Data
(1999-01)
In the analysis of longitudinal data it is of main interest to investigate the existence of group and individual effects under correlated observations across time. In this paper, we develop a nonparametric two-step procedure ...