This article adds technology choice to a free-entry Cournot model with linear demand and constant marginal costs. Firms can choose from a discrete set of technologies. This simple framework yields non-existence of equilibrium, existence of multiple equilibria and equilibria in which ex-ante identical ̄rms choose di®erent technologies as possible outcomes. I provide a full characterization of th...

in this paper, we consider a class of column-weight two quasi-cyclic low-density paritycheck codes in which the girth can be large enough, as an arbitrary multiple of 8. then we devote a convolutional form to these codes, such that their generator matrix can be obtained by elementary row and column operations on the parity-check matrix. finally, we show that the free distance of the convolution...

A significant public policy trend is the increased use of alternative dispute resolution (ADR) procedures, such as mediation and arbitration, in a variety of settings. Mediation is the most utilized, yet least analyzed, of these procedures. This article proposes a general equilibrium framework to analyze mediation. Mediators function as Walrasian auctioneers by altering tradeoff among bargainin...

A set of su¢ cient conditions for representability of preference orders on real sequence spaces is analyzed. In particular, monotonicity and continuity of the order is not assumed. Two applications are worked out to demonstrate how such a result might be useful. Jel Codes: C60, D01

Fiscal consolidations are currently in the agenda of fiscal authorities in many countries. Using Bayesian model averaging to overcome the problem of model uncertainty, we find that growth-enhancing policies and cuts in public wages are the most appropriate ingredients for successfully reducing debt levels and budget deficits. JEL Codes: H30, H62.

This note provides a new proof of the non–emptiness of the fuzzy core in a pure exchange economy with finitely many agents. The proof is based on the concept of (Π, β)–balanced core for games without side payments due to Bonnisseau and Iehlé (2003). JEL classification codes: D51, C71.

We provide a necessary and a sufficient condition on an individual’s expected utility function under which any zero-mean idiosyncratic risk increases cautiousness (the derivative of the reciprocal of the absolute risk aversion), which is the key determinant for this individual’s demand for options and portfolio insurance. JEL Classification Codes: D51, D58, D81, G11, G12, G13.

This paper derives consistent standard errors for a panel Tobit model in the presence of correlated errors. The problem is framed in the context of Newey and West (1987), considering the Tobit model as a special case of a GMM estimator. JEL codes: C23, C24