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Comments on ‘Equilibrium Interpretations of Employment and Real Wages
Employment Real Wages
2015/8/4
Finally, we certainly have weak priors on how to attribute causes of serial
persistence. For instance, I would have guessed a different pattern than
Kennan suggests for allocating the two large root...
Experimental economics has repeatedly demonstrated that the Nash equilibrium makes inaccurate predictions for a vast set of games. Instead, several alternative theoretical concepts predict behavior th...
Pricing in an equilibrium based model for a large investor
large investor liquidity utility optimization equilibrium
2010/10/21
We study a financial model with a non-trivial price impact effect. In this model we consider the interaction of a large investor trading in an illiquid security, and a market maker who is quoting pric...
General equilibrium with endogenous uncertainty and default
Graciela ChichilniskyColumbia University, United States
Ho-Mou WuCollege of Management, University of Taiwan and China Center for Economic R...