This note describes methods to test for distributional treatment effects under the conditional independence assumption. The differences between latent outcome distributions are judged by testing hypotheses of distributional equality and stochastic dominance. Furthermore, semiparametric efficient versions of the test statistics are given. The latter test statistics are double robust, i.e., they ...

Jamal and Sunder (1996) showed that the median prices in double auctions populated by zero-intelligence (ZI) traders whose trading limits are set by two biased heuristics tend to converge to the same equilibrium as if their trading limits were set by applying Bayes’ Rule. This note provides an analytical explanation of why the repeated use of biased heuristics approximates Bayes rule. JEL class...

This paper suggests a new methodology for evaluating technological change in a multi-sector general equilibrium framework. The double calibration technique was applied to an ex post decomposition analysis of technological change between two periods, enabling a distinction to be made between price-induced and factor-biased technological changes for each sector. The method is applied to an empiri...

We investigated the ability of the engineered paraoxonase-1 variants G3C9, VII-D11, I-F11, and VII-D2 to afford protection against paraoxon intoxication. Paraoxon is the toxic metabolite of parathion, a common pesticide still in use in many developing countries. An in vitro investigation showed that VII-D11 is the most efficient variant at hydrolyzing paraoxon with a kcat/Km of 2.1 × 10(6) M(-1...

I characterize the profit-maximizing pricing and product-availability strategies for a retailer selling two substitute goods to loss-averse consumers. Consumers have unit demand, are interested in buying at most one good, and their reference point is given by their recent rational expectations about what consumption value they would receive and what price they would pay. If the goods are close ...

The mainly used welfare criterion in the social network literature is Bentham ́s utilitarian concept. The shortcomings of this concept are well-known. We compare the outcomes of the utilitarian concept with the Nash social welfare function. By using a Taylor approximation we deduce a formula which allows the direct comparison of both concepts. The implications of welfare considerations of import...

There are many situations in which a customer’s proclivity to buy the product of any firm depends not only on the classical attributes of the product such as its price and quality, but also on who else is buying the same product. We model these situations as games in which firms compete for customers located in a “social network”. Nash Equilibrium (NE) in pure strategies exist in general. In th...

Consumers have shown a willingness to pay a premium for products labeled as “Fair Trade,” and to prefer retailers that are seen as more generous to their suppliers/employees. A fair trade product is essentially a bundle of a base product and a donation to the supplier (e.g., a coffee farmer). An altruistic rational consumer will only choose this bundle if doing so is less expensive than buying ...

La part de l’aide humanitaire croît dans totale. Or les acteurs impliqués restent peu étudiés. Cet article documente la fragmentation à un double niveau : celui des donneurs et terrains. Le jeu délégation entre deux peut réduire effets négatifs l’aide. À partir trois études cas, le lien fragmentation, efficacité est il...