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BANKING, FINANCE AND REFORM IN THE NANJING DECADE (1928-1937): A SYNTHETIC ECONOMIC POLICY 南京十年(1928-1937)的银行、金融与改革:综合经济政策
IF 1.7 3区 经济学
Theoretical Economics Pub Date : 2023-01-01 DOI: 10.52342/2587-7666vte_2023_1_127_141
M. Kruglova
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引用次数: 0
Distance on matchings: An axiomatic approach 匹配的距离:一种公理方法
IF 1.7 3区 经济学
Theoretical Economics Pub Date : 2023-01-01 DOI: 10.3982/te4882
B. Can, Mohsen Pourpouneh, Ton Storcken
{"title":"Distance on matchings: An axiomatic approach","authors":"B. Can, Mohsen Pourpouneh, Ton Storcken","doi":"10.3982/te4882","DOIUrl":"https://doi.org/10.3982/te4882","url":null,"abstract":"Matchings in a market may have varying degrees of compromise from efficiency, fairness, and or stability. A distance function allows to quantify such concepts or the (dis)similarity between any two matchings. There are a few attempts to propose such functions; however, these are tailored for specific applications and ignore the individual preferences completely. In this paper, we construct a normative framework to quantify the difference between outcomes of market mechanisms in matching markets, while endogenizing the preferences of the individuals into the distance concept. Several conditions are introduced to capture natural and appealing behavior of such functions. We find a class of distance functions called scaled Borda distances, which is the only class of distance functions that satisfies these conditions simultaneously.","PeriodicalId":46923,"journal":{"name":"Theoretical Economics","volume":"50 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90884076","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
HOW CLIO TURNED INTO A CLIOLATOR, OR A METAMORPHOSIS OF ECONOMIC HISTORY IN THE SECOND HALF OF THE XX - BEGINNING OF THE XXI CENTURIES 克利奥是如何在20世纪下半叶，即21世纪初，变成了一个cliolator，或者是经济史的一个变形者的
IF 1.7 3区 经济学
Theoretical Economics Pub Date : 2023-01-01 DOI: 10.52342/2587-7666vte_2023_1_114_126
A. Maltsev
{"title":"HOW CLIO TURNED INTO A CLIOLATOR, OR A METAMORPHOSIS OF ECONOMIC HISTORY IN THE SECOND HALF OF THE XX - BEGINNING OF THE XXI CENTURIES","authors":"A. Maltsev","doi":"10.52342/2587-7666vte_2023_1_114_126","DOIUrl":"https://doi.org/10.52342/2587-7666vte_2023_1_114_126","url":null,"abstract":"","PeriodicalId":46923,"journal":{"name":"Theoretical Economics","volume":"47 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91047219","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
INSTITUTIONAL SCARS IN «FRONTIER» SOCIETIES (Part 2. Institutional scars in the history of russian transformation and changes in value orientations) “边疆”社会的制度伤痕(第二部分)。俄罗斯转型历史上的制度伤痕与价值取向变迁
IF 1.7 3区 经济学
Theoretical Economics Pub Date : 2023-01-01 DOI: 10.52342/2587-7666vte_2023_1_60_82
N. Pliskevich
{"title":"INSTITUTIONAL SCARS IN «FRONTIER» SOCIETIES (Part 2. Institutional scars in the history of russian transformation and changes in value orientations)","authors":"N. Pliskevich","doi":"10.52342/2587-7666vte_2023_1_60_82","DOIUrl":"https://doi.org/10.52342/2587-7666vte_2023_1_60_82","url":null,"abstract":"","PeriodicalId":46923,"journal":{"name":"Theoretical Economics","volume":"6 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89168937","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Optimal information disclosure and market outcomes 最优信息披露与市场结果
3区 经济学
Theoretical Economics Pub Date : 2023-01-01 DOI: 10.3982/te5104
Hugo Hopenhayn, Maryam Saeedi
{"title":"Optimal information disclosure and market outcomes","authors":"Hugo Hopenhayn, Maryam Saeedi","doi":"10.3982/te5104","DOIUrl":"https://doi.org/10.3982/te5104","url":null,"abstract":"This paper addresses two central questions in markets with adverse selection: How does information impact the welfare of market participants (sellers and buyers)? Also, what is the optimal information disclosure policy and how is it affected by the planner's relative welfare weight on sellers' surplus versus consumers' surplus? We find that as a result of improved information, prices become more strongly associated with the true quality of sellers and, thus, more dispersed. This will result in higher total surplus. Furthermore, we find that better information has opposing welfare effects on consumers and producers that could lead to limited disclosure depending on the social objective and market characteristics.","PeriodicalId":46923,"journal":{"name":"Theoretical Economics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135562267","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Rationalizable implementation of social choice functions: Complete characterization 社会选择功能的合理实施:完整的特征描述
IF 1.7 3区 经济学
Theoretical Economics Pub Date : 2022-02-10 DOI: 10.3982/te4036
Siyang Xiong
{"title":"Rationalizable implementation of social choice functions: Complete characterization","authors":"Siyang Xiong","doi":"10.3982/te4036","DOIUrl":"https://doi.org/10.3982/te4036","url":null,"abstract":"We provide a complete answer regarding what social choice functions can be rationalizably implemented.","PeriodicalId":46923,"journal":{"name":"Theoretical Economics","volume":"9 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2022-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82078289","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Robust comparative statics for the elasticity of intertemporal substitution 跨期替代弹性的稳健比较静力学
IF 1.7 3区 经济学
Theoretical Economics Pub Date : 2022-01-25 DOI: 10.3982/te4117
Joel P. Flynn, Lawrence D. W. Schmidt, Alexis Akira Toda
{"title":"Robust comparative statics for the elasticity of intertemporal substitution","authors":"Joel P. Flynn, Lawrence D. W. Schmidt, Alexis Akira Toda","doi":"10.3982/te4117","DOIUrl":"https://doi.org/10.3982/te4117","url":null,"abstract":"We study a general class of consumption–savings problems with recursive preferences. We characterize the sign of the consumption response to arbitrary shocks in terms of the product of two sufficient statistics: the elasticity of intertemporal substitution (EIS) between contemporaneous consumption and continuation utility, and the relative elasticity of the marginal value of wealth (REMV). Under homotheticity, the REMV always equals 1, so the propensity of the agent to save or “dis‐save” is always signed by the relationship of the EIS with unity. We apply our results to derive comparative statics in classical problems of portfolio allocation, consumption–savings with income risk, and entrepreneurial investment. Our results suggest empirical identification strategies for both the value of the EIS and its relationship with unity.","PeriodicalId":46923,"journal":{"name":"Theoretical Economics","volume":"1 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2022-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88260481","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
Indifference, indecisiveness, experimentation, and stochastic choice 冷漠、优柔寡断、试验和随机选择
IF 1.7 3区 经济学
Theoretical Economics Pub Date : 2022-01-01 DOI: 10.3982/te4216
Efe A. Ok, Gerelt Tserenjigmid
{"title":"Indifference, indecisiveness, experimentation, and stochastic choice","authors":"Efe A. Ok, Gerelt Tserenjigmid","doi":"10.3982/te4216","DOIUrl":"https://doi.org/10.3982/te4216","url":null,"abstract":"Among the reasons behind the choice behavior of an individual taking a stochastic form are her potential indifference or indecisiveness between certain alternatives, and/or her willingness to experiment in the sense of occasionally deviating from choosing a best alternative to give a try to other options. We introduce methods of identifying if and when a stochastic choice model may be thought of as arising due to any one of these three reasons. Each of these methods furnishes a natural way of making deterministic welfare comparisons within any model that is “rationalized” as such. In turn, we apply these methods, and characterize the associated welfare orderings, in the case of several well‐known classes of stochastic choice models.","PeriodicalId":46923,"journal":{"name":"Theoretical Economics","volume":"13 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88489480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 13
Equilibrium securitization with diverse beliefs 多元信念的均衡证券化
IF 1.7 3区 经济学
Theoretical Economics Pub Date : 2022-01-01 DOI: 10.3982/te4157
Andrew Ellis,Michele Piccione,Shengxing Zhang
{"title":"Equilibrium securitization with diverse beliefs","authors":"Andrew Ellis,Michele Piccione,Shengxing Zhang","doi":"10.3982/te4157","DOIUrl":"https://doi.org/10.3982/te4157","url":null,"abstract":"We study the effects of diverse beliefs on equilibrium securitization under risk neutrality. We provide a simple characterization of the optimal securities. Pooling and tranching of assets emerges in equilibrium as a consequence of the traders' diverse beliefs about asset returns. The issuer of securities tranches the asset pool, and traders sort among the tranches according to their beliefs. We show how the traders' disagreement about the correlation of asset returns is a key factor in determining which assets are pooled.","PeriodicalId":46923,"journal":{"name":"Theoretical Economics","volume":"66 3","pages":"121-152"},"PeriodicalIF":1.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138509412","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
PLATFORM MARKET DEFINITION: ACCOUNTING FOR NETWORK EFFECTS AND PASS-THROUGH EFFECT 平台市场定义:考虑网络效应和传递效应
IF 1.7 3区 经济学
Theoretical Economics Pub Date : 2022-01-01 DOI: 10.52342/2587-7666vte_2022_3_7_30
O. Markova
{"title":"PLATFORM MARKET DEFINITION: ACCOUNTING FOR NETWORK EFFECTS AND PASS-THROUGH EFFECT","authors":"O. Markova","doi":"10.52342/2587-7666vte_2022_3_7_30","DOIUrl":"https://doi.org/10.52342/2587-7666vte_2022_3_7_30","url":null,"abstract":"","PeriodicalId":46923,"journal":{"name":"Theoretical Economics","volume":"24 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79065372","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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