Search
Now showing items 1-10 of 45
Semiparametric estimation in perturbed long memory series
(2005-05)
The estimation of the memory parameter in perturbed long memory series has recently attracted attention motivated especially by the strong persistence of the volatility in many financial and economic time series and the ...
Bayesian learning in mis-specified models
(2000-02)
A central unanswered question in economic theory is that of price formation in disequilibrium. This paper lays down the methodological groundwork for a model that has been suggested as an answer to this question (Arrow, ...
Sole Ownership and Common Property Under Management Flexibility: Valuation, Optimal Exploitation and Regulation
(2001-01)
If one were to examine the institutional configurations under which real world fisheries operate, one would find virtually no fisheries operating under either pure open access or rent maximizing conditions. Instead, most ...
Gaussian Semiparametric Estimation in Long Memory in Stochastic Volatility and Signal Plus Noise Models
(2002-04)
This paper considers the persistence found in the volatility of many financial time series by means of a local Long Memory in Stochastic Volatility model and analyzes the performance of the Gaussian semiparametric or local ...
Competition, regulation, and pricing behavior in the Spanish retail gasoline market
(2006)
The restructuring of the Spanish oil industry produced a highly concentrated oligopoly in the retail gasoline market. In June 1990 the Spanish government introduced a system of ceiling price regulation in order to ensure ...
Merging to License: Internal vs. External Patentee
(2003-01)
In this paper, we endogenize the decision of a research laboratory that owns a patented process innovation on whether to remain independent as an external patentee or to merge with a manufacturing firm, becoming an internal ...
A Simple Model of Anticompetitive Vertical Integration
(2003-01)
The result of neutrality of vertical integration for competition postulated by the Chicago School can be supported by a benchmark model with (1) an upstream monopolist, (2) homogeneous goods downstream and (3) observable ...
Product Differentiation with Consumer Arbitrage
(2003-03)
We analyze the consequences of consumers behavior concerning personal arbitrage in a spatial discrimination context where firms know the consumers distribution but cannot distinguish them by location. The firms' equilibrium ...
Is a Small Monte Carlo Analysis a Good Analysis? Checking the Size, Power and Consistency of a Simulation-Based Test
(Springer, 2002)
In this paper we study the relationship between the number of
replications and the accuracy of the estimated quantiles of a distribution
obtained by simulation. A method for testing hypotheses on the quantiles
of a ...
Mixed Duopoly, Merger and Multiproduct Firms
(2000-07)
The literature on mergers has extensively analyzed the decision to merge by private firms but it has not considered the decision to merge by private and public firms. We assume that when a private firm and a public firm ...