Network formation is frequently modeled using link-formation games and typically present a multiplicity of Nash equilibria. Cooperative refinements —such as strong or coalitional proof Nash equilibria— have been the standard ...

This paper reports results of an experimental study of uniform multi-unit auctions in an environment of publicly known common values. We find that the bidding behavior exhibits two clear regularities: agents consistently ...

To explain the core-periphery structure observed in many OTC markets we augment a random matching model in three ways: we introduce preference heterogeneity in types and allow agents to choose how intense they meet specific ...

A semi-empirical likelihood estimator is proposed for models where agents interact under asymmetric information. The methodology focuses on situations where some variables that were privately observed when choices were ...

En este documento se estudia el problema de asignación de recursos de los agentes y la restricción de presupuesto del gobierno, y se establecen las condiciones de existencia de un equilibrio macroeconómico. En este equilibrio, ...

We present a model for the selection of preferences in an Overlaping Generations setting with heterogeneous agents. The distribution of agents' types evolves according to a SPS dynamics {Sign-Preserving Selection dynamics} ...

In this paper we make a critic of the standard stability results already established in a basic two period OLG model. Under an alternative interpretation of the model we obtain in a more general setting that the economy ...