I construct the life-cycle model with equilibrium default and preferences featuring temptation and self-control. The model provides quantitatively similar answers to positive questions such as the causes of the observed rise in debt and bankruptcies and macroeconomic implications of the 2005 bankruptcy reform, as the standard model without temptation. However, the temptation model provides cont...

This paper examines the phenomenon of training teachers of Physical Education and Sports (PES) in Turkey with respect to its dimensions of student quotas, graduates, and employment; and performs analytical evaluations through the numeric data. In the last five years, the number of labor force participants in PES teaching posts was 14,459 on average and the average employment volume was 10.29%, ...

Maynard-Smith (1974) has presented a game of attrition model for animal conflict. He assumed that the penalty function, giving the cost in terms of fitness, of displaying for a given time period, is a linear function of the time of display. Under this assumption he shows that an evolutionary stable strategy (ESS) always exists: one such is a mixed strategy for which display times have a negativ...

We employ a simple two-period model to show that the use of confidential settlement as a strategy for a firm facing tort litigation leads to lower average product safety than that which would be produced if a firm were committed to openness. Moreover, confidentiality can even lead to declining average product safety over time. We also show that a rational risk-neutral consumer’s response to a m...

Perturbation analysis is a powerful tool to study population and community dynamics. This article describes expressions for sensitivity metrics reflecting changes in equilibrium occupancy resulting from small changes in the vital rates of patch occupancy dynamics (i.e., probabilities of local patch colonization and extinction). We illustrate our approach with a case study of occupancy dynamics ...

These notes analyze the production of financial services in general equilibrium. 1 Real Economy 1.1 Households The finance industry provides credit as well as liquidity and payment services to households (and savers more generally). In addition, household debt has an important life-cycle component (i.e., mortgages). The model must therefore incorporate these features. To do so, I consider a set...

For the last 20 years, it has been hypothesized that well-coordinated, multijoint movements are executed without complex computation by the brain, with the use of springlike muscle properties and peripheral neural feedback loops. However, it has been technically and conceptually difficult to examine this "equilibrium-point control" hypothesis directly in physiological or behavioral experiments....

We review previous research showing that representations formed during language processing are sometimes just "good enough" for the task at hand and propose the "online cognitive equilibrium" hypothesis as the driving force behind the formation of good-enough representations in language processing. Based on this view, we assume that the language comprehension system by default prefers to achiev...

We construct a quantitative equilibrium model of the housing sector that accounts for the homeownership rate, the average foreclosure rate, and the distribution of home-equity ratios across homeowners prior to the recent boom and bust in the housing market. We analyze the key mechanisms that account for these facts, including the preferential tax treatment of housing and inflation. We then use ...