Preferences over solutions to the bargaining problem
Article Abstract:
Reserach considering preferences over solutions to the Nash bargaining problem reveals that there are several interpretations to the assumptions that arise. Remarks on the literature are also discussed with several authors citing alternative models and axioms. Objections to the Nash bargaining solution and the alternative solution include the inconsistencies of the two systems, problems when trying to solve a simpler problem and problems of validity arising from preferences of bargaining agents.
Publication Name: Econometrica
Subject: Mathematics
ISSN: 0012-9682
Year: 1997
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Rational asset pricing bubbles
Article Abstract:
A study of the incidence of asset pricing bubbles in an intertemporal competitive equilibrium framework reveals that asset pricing bubbles are generally non-existent under fairly general assumptions. The analysis goes beyond the paradigm of standard perfect capital markets to study how productive assets, sequentially incomplete markets, arbitrary borrowing limits and partial agent participation affect the incidence of asset pricing bubbles.
Publication Name: Econometrica
Subject: Mathematics
ISSN: 0012-9682
Year: 1997
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Bayesian vector autoregressions with stochastic volatility
Article Abstract:
A study of vector autoregression with stochastic volatility using a Bayesian approach reveals that the key to the proof is a result concerning the conjugacy between singular multivariate beta distributions and Wishart distributions. It is possible to integrate out the disturbance in the position matrix by using this conjugate. Sampling methods are required for posterior based inference.
Publication Name: Econometrica
Subject: Mathematics
ISSN: 0012-9682
Year: 1997
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