We consider the gravity in the system consisting of the Bogomol’nyi-Prasad-Sommerfield (BPS) D3-brane embedded in the flat background geometry, produced by the solutions of the supergravity. The effective action for this system is represented by the sum of the Hilbert-Einstein and DBI actions. We derive the Wheeler-De Witt equation for this system and obtain analytical solutions in some special...

We consider a linear stochastic univariate rational expectations model, with a predetermined variable, and provide alternative representations of SSEs (stationary sunspot equilibria). For a strict subset of the parameter space there exist SSEs that are locally stable under least squares learning provided agents use a common factor representation for their estimated law of motion. These results ...

This paper shows that the efficiency of relational contracting can be increased by reducing the public information through a novel intertemporalgarbling process of signals. A distinctive and essential feature of our intertemporalgarbling process is that past outputs have enduring effects on future signals. This process reduces the principal’s maximal reneging temptation by linking together the ...

This paper derives analytical results for determination of the window size that explores the trade-off between bias and forecast error variance to minimize the mean squared forecast error in the presence of breaks. We show analytically how to determine the estimation window optimally for the case with strictly exogenous regressors. Through Monte Carlo simulations the paper compares the performa...

This article studies the design of optimal mechanisms to regulate entry in natural oligopoly markets, assuming the regulator is unable to control the behavior of firms once they are in the market. We adapt the Clarke–Groves mechanism, characterize the optimal mechanism that maximizes the weighted sum of expected social surplus and expected tax revenue, and show that thesemechanisms generally av...

Researchers of regional and international productivity comparisons are increasingly adopting various frontier approaches to examine convergence and the possible causes of productivity differences. We argue that economy-wide technology frontiers estimated with aggregate measures of output are downward biased. This bias extends not only to estimates of the technology frontier, but also produces i...

We offer a detailed examination of a broad class of 2 × 2 matrix games as a first step toward considering measures of resource distribution and efficiency of outcomes. In the present essay, only noncooperative equilibria and entropic outcomes are considered, and a crude measure of efficiency employed. Other solution concepts and the formal construction of an efficiency index will be addressed i...

This paper attempts to explain several empirical findings regarding religion. The main one is between religion and the fear of death. Some empirical evidence indicates moderately religious individuals fear death more than either atheists or extremely religious individuals. The model also explains the positive relationship often found between religious activity (e.g. church attendance) and age. ...

We propose an allocation rule that takes into account the importance of players and their links and characterizes it for a fixed network. Unlike previous rules, our characterization does not require component additivity. Next, we extend it to flexible networks à la Jackson (2005). Finally, we provide a comparison with other fixed (network Myerson and Position value) and flexible network (player...

In this paper we study the optimal file-sharing mechanism in a peer-to-peer network with a mechanism design perspective. This mechanism improves upon existing incentive schemes. In particular, we show that peer-approved scheme is never optimal and service-quality scheme is optimal only under certain circumstances. Moreover, we find that the optimal mechanism can be implemented by a mixture of p...