Micro-bias and macro-performance

Micro-bias and macro-performance.

We use agent-based modeling to investigate the effect of conservatism and partisanship on the efficiency with which large populations solve the density classification task - a paradigmatic problem for information aggregation and consensus building. We find that conservative agents enhance the populations' ability to efficiently solve the density classification task despite large levels of noise...

response articles: micro and macro analysis

the present study reports an analysis of response articles in four different disciplines in the social sciences, i.e., linguistics, english for specific purposes (esp), accounting, and psychology. the study has three phases: micro analysis, macro analysis, and e-mail interview. the results of the micro analysis indicate that a three-level linguistic pattern is used by the writers in order to cr...

Micro Data and Macro Technology;

We study the implications of microeconomic heterogeneity for aggregate technology, showing that the aggregate elasticity of substitution between capital and labor can be expressed as a simple function of plant level structural parameters and sufficient statistics for plant heterogeneity. This allows for a new approach to estimating the aggregate elasticity using microeconomic data and allows us...

Micro Frictions and Macro Wedges

Business Cycle Accounting (BCA) is a helpful litmus test for quantitive macroeconomic models. Indeed, deviations from the data and a neo-classical growth model can be summarized as distortion of the efficiency of production or to optimality conditions such as leisure-consumption choices and investment Euler equations. These empirical ”wedges” are then a simple diagnostic test for the empirical ...

Comparing Micro and Macro Rationality