This paper reports on an experiment designed to analyze information revelation in sequential guessing games. We observe a remarkable frequency of equilibrium outcomes. Deviations from the equilibrium are explained by learning considerations. By means of applying panel data econometric techniques, we find the presence of error cascades, which represent the situation where the deviation from lear...

Heterogeneity in Real Wage Cyclicality This paper presents evidence that real wage cyclicality can be a particularly heterogeneous parameter, depending on different worker characteristics and also on the specific stage of the business cycle. Using matched employer-employee panel data for Portugal covering the period 1986-2004, real wages are shown to be considerably more procyclical during rece...

Several approaches exist for the estimation of technical efficiency. In this paper the four most relevant ones (Data Envelopment Analysis, Stochastic Production Frontiers, Panel Data and Distance Functions) have been compared. The different approaches have been applied to the to the Spanish Trawl fishery that operated in Moroccan waters. The study highlights some of the problems arising from th...

confirmation of convergence hypothesis among provinces, its role in removing divergence among regions and achieving regional convergence is one of the important issues in macroeconomics. the aim of the present study is to examine absolute and conditional income convergence hypotheses among iranian provinces during the period 2000-2010 using panel data. the hypotheses are tested for the whole pr...

abstract: the tax capacity is one of the main concepts in public finance and provides the required information on state economic power in mobilizing the tax resources for responding the financial problems and execution of economic policies. for this purpose, the main objective of this paper is to estimate the tax capacity for oil exporting countries over the period of 1995-2008 by applying pane...

there has been relatively little empirical analysis of the role played by cultural-social-economic policies to promote entrepreneurship. governments, for instance, conduct different entrepreneurship promotion policies. financial assistance and easing of bureaucratic rules are provided to improve the entrepreneurship process in a country. entrepreneurs benefit from education and skills, which ar...