CARESS Working Papres

from University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences
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On Trees and Logs

David Cass and Anna Pavlova

The Drawbacks of Electoral Competition

Alessandro Lizzeri and Nicola Persico

Endogenous Lobbying

Leonardo Felli and Antonio Merlo

Does Competition Solve the Hold-up Problem?

Leonardo Felli and Kevin Roberts

Efficient Non-Contractible Investments in Large Economies

Harold Linh Cole, George J. Mailath and Andrew Postlewaite

Investment and Concern for Relative Position

Harold Linh Cole, George J. Mailath and Andrew Postlewaite

Market Selection and Asymmetrick Information

George J. Mailath and Alvaro Sandroni

Reducing Overlapping Generations Economies to Finite Economies

Julio Dávila

Time and Uncertainty in Overlapping Generations Economies

Julio Dávila

Financial Innovation and Expectations'

Alessandro Citanna and Antonio Villanacci

An Economic Model of Representative Democracy'

Timothy J. Besley and Stephen Coate

The Revelation of Information and Self-Fulfilling Beliefs'

Jayasri Dutta and Stephen Morris

Justifying Rational Expectations'

Stephen Morris

Co-operation and Timing'

Stephen Morris

Statistical Discrimination, Affirmative Action, and Mismatch'

Jaewoo Ryoo

Sufficiently Specialized Economies have Nonempty Cores'

Roger Lagunoff

Necessary and Sufficient Conditions for Convergence to Nash Equilibrium: The Almost Absolute Continuity Hypothesis'

Alvaro Sandroni

Budget-constrained Search'

Richard Manning and Julian R A Manning

Efficient Policy Choice in a Representative Democracy: A Dynamic Analysis'

Timothy J. Besley and Stephen Coate

The Sequential Regularity of Competitive Equilibria and Sunspots'

Atsushi Kajii

Generic Existence of Sunspot Equilibria: The Case of real Assets'

Piero Gottardi and Atsushi Kajii

Speculative Investor Behavior and Learning'

Stephen Morris

Incorporating Concern for Relative Wealth into Economic Models'

Harold Linh Cole, George J. Mailath and Andrew Postlewaite

An 'Anti-Folk Theorem' for a Class of Asynchronously Repeated Games'

Roger Lagunoff and Akihiko Matsui

Correlated Equilibria and Local Interactions'

George J. Mailath, Larry Samuelson and Avner Shaked

A Rudimentary Model of Search with Divisible Money and Prices'

Edward Green and Ruilin Zhou

The Robustness of Equilibria to Incomplete Information*'

Atsushi Kajii and Stephen Morris

Policy Persistence '

Stephen Coate and Stephen Morris

Underemployment of Resources and Self-Confirming Beliefs'

Alessandro Citanna, Herve Cres and Antonio Villancci

Multiplicity of Equilibria'

Christian Ghiglino and Mich Tvede

Word-of-Mouth Communication and Community Enforcement'

Illtae Ahn and Matti Suominen

Dynamic Daily Returns Among Latin Americans and Other Major World Stock Markets'

Yochanan Shachmurove

Class Systems and the Enforcement of Social Norms'

Harold Linh Cole, George J. Mailath and Andrew Postlewaite

Dynamic Liquidation, Adjustment of Capital Structure, and the Costs of Financial Distress'

Matthias Kahl

Approximate Common Knowledge Revisited'

Stephen Morris

Approximate Common Knowledge and Co-ordination: Recent Lessons from Game Theory'

Stephen Morris and Hyun Song Shin

Affirmative Action in a Competitive Economy'

Andrea Moro and Peter Norman

An Alternative Approach to Market Frictions: An Application to the Market for Taxicab Rides'

Ricardo Lagos

Asynchronous Choice in Repeated Coordination Games'

Roger Lagunoff and Akihiko Matsu

Contagion'

Stephen Morrs

Interaction Games: A Unified Analysis of Incomplete Information, Local Interaction and Random Matching'

Stephen Morris

The Premium in Black Dollar Markets'

Yochanan Shachmurove

Using Vector Autoregression Models to Analyze the Behavior of the European Community Stock Markets'

Joseph Friedman and Yochanan Shachmurove

Democratic Choice of an Education System: Implications for Growth and Income Distribution

Mark Gradstein and Moshe Justman

Formulating Optimal Portfolios in South American Stock Markets'

Yochanan Shachmurove

The Burglar as a Rational Economic Agent'

Yochanan Shachmurove, Gideon Fishman and Simon Hakim

Portfolio Analysis of Latin American Stock Markets'

Yochanan Shachmurove

Cooperation, Corporate Culture and Incentive Intensity'

Rafael Rob and Peter Zemsky

On Money as a Medium of Exchange When Goods Vary by Supply and Demand

Xavier Cuadras-Morató and Randall Wright

The Dynamics of Technological Adoption in Hardware/Software Systems: The Case of Compact Disc Players'

Neil Gandal, Michael Kende and Rafael Rob