Zobrazeno 1 - 10
of 230
pro vyhledávání: '"Goeree, Jacob K"'
We introduce a definition of multivariate majorization that is new to the economics literature. Our majorization technique allows us to generalize Mussa and Rosen's (1978) "ironing" to a broad class of multivariate principal-agents problems. Specific
Externí odkaz:
http://arxiv.org/abs/2308.13804
Autor:
Bedard, Nicholas C., Goeree, Jacob K.
We establish the Subgradient Theorem for monotone correspondences -- a monotone correspondence is equal to the subdifferential of a potential if and only if it is conservative, i.e. its integral along a closed path vanishes irrespective of the select
Externí odkaz:
http://arxiv.org/abs/2308.04593
Autor:
Goeree, Jacob K, Garcia-Pola, Bernardo
In economics, risk aversion is modeled via a concave Bernoulli utility within the expected-utility paradigm. We propose a simple test of expected utility and concavity. We find little support for either: only 30 percent of the choices are consistent
Externí odkaz:
http://arxiv.org/abs/2308.02083
Autor:
Goeree, Jacob K, Garcia-Pola, Bernardo
$S$ equilibrium synthesizes a century of game-theoretic modeling. $S$-beliefs determine choices as in the refinement literature and level-$k$, without anchoring on Nash equilibrium or imposing ad hoc belief formation. $S$-choices allow for mistakes a
Externí odkaz:
http://arxiv.org/abs/2307.06309
Autor:
Goeree, Jacob K
General equilibrium, the cornerstone of modern economics and finance, rests on assumptions many markets do not meet. Spectrum auctions, electricity markets, and cap-and-trade programs for resource rights often feature non-convexities in preferences o
Externí odkaz:
http://arxiv.org/abs/2305.06256
Autor:
Goeree, Jacob K
I introduce a concave function of allocations and prices -- the economy's potential -- which measures the difference between utilitarian social welfare and its dual. I show that Walrasian equilibria correspond to roots of the potential: allocations m
Externí odkaz:
http://arxiv.org/abs/2210.14437
Autor:
Goeree, Jacob K., Louis, Philippos
Publikováno v:
The American Economic Review, 2021 Dec 01. 111(12), 4002-4045.
Externí odkaz:
https://www.jstor.org/stable/27086717
Autor:
Goeree, Jacob K., Louis, Philippos
We introduce a set-valued solution concept, M equilibrium, to capture empirical regularities from over half a century of game-theory experiments. We show M equilibrium serves as a meta theory for various models that hitherto were considered unrelated
Externí odkaz:
http://arxiv.org/abs/1811.05138
Autor:
GOEREE, JACOB K., LINDSAY, LUKE
Publikováno v:
The Review of Economic Studies, 2020 Oct 01. 875 (316), 2230-2255.
Externí odkaz:
https://www.jstor.org/stable/26934256