Comment on "growth cycles and market crashes"

Article Abstract:

A model is developed by Boldrin and Levine in which their quantitative analysis shows that in a realistic range of parameter values, it is possible to generate falls in the stock market on the order of 10-20%. However, there is a mistake in these numbers, but once these mistakes in the computations of the paper are rectified, the model is capable of generating falls in stock market on the order of 25-50% for reasonable parameterizations.

Forecasts, trends, outlooks, Forecasts and trends, Market trend/market analysis, Stock markets, Stock market

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Negotiation and take it or leave it in common agency

Article Abstract:

Models of common agency are given wherein principals compete in take it or leave it offers with models where principals offer agents menus of incentive contracts from which the final contract is negotiated. A no-externalities condition is restrictive but applies in most common agency problems and it is given such that any pure strategy equilibrium allocation with menus can be backed with competition in incentive contracts.

Contracts, Externalities (Economics)

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Internet auctions with many traders

Article Abstract:

Empirical modeling of Bayes equilibrium for decentralized trading mechanism of Web-based second price auctions is presented.

Canada, Management dynamics, Management, Usage, Bayesian statistical decision theory, Bayesian analysis, Company Web site/Web page, Web sites (World Wide Web), Web sites, Electronic commerce, E-commerce, Company business management, Probabilities, Probability theory

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