Cowles Foundation for Research in Economics

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DISCUSSION PAPERS, 2009

No. Author(s) Title
CFDP 1685 Nordhaus, William D. "The Perils of the Learning Model For Modeling Endogenous Technological Change" (January 2009) [abstract, 19pp]
CFDP 1686 Nordhaus, William D. "An Analysis of the Dismal Theorem" (January 2009) [abstract, 26pp]
CFDP 1687 Wang, Qiying
Phillips, Peter C.B.
"Asymptotic Theory for Zero Energy Density Estimation with Nonparametric Regression Applications" (January 2009) [abstract, 26pp]
CFDP 1688 Cheng, Xu
Phillips, Peter C.B.
"Cointegrating Rank Selection in Models with Time-Varying Variance" (January 2009) [abstract, 27pp]
CFDP 1689 Phillips, Peter C.B. "Bootstrapping I(1) Data" (January 2009) [abstract, 11pp]
CFDP 1690 Giraitis, Liudas
Phillips, Peter C.B.
"Mean and Autocovariance Function Estimation Near the Boundary of Stationarity" (January 2009) [abstract, 34pp]
CFDP 1691 Chen, Xiaohong
Wu, Wei Biao
Yi, Yanping
"Efficient Estimation of Copula-based Semiparametric Markov Models" (updated March 2009) [abstract, 55pp] Reprinted in Annals of Statistics (2009), 37(6B): 4214-4253 [CFP 1284]
CFDP 1692 Llavador, Humberto
Roemer, John E.
Silvestre, Joaquim
"Intergenerational Justice when Future Worlds Are Uncertain" (April 2009) [abstract, 48pp]
CFDP 1693 Roemer, John E. "The Ethics of Distribution in a Warming Planet" (April 2009) [abstract, 47pp]
CFDP 1694 Chen, Xiaohong
Hansen, Lars P.
Scheinkman, José
"Principal Components and Long Run Implications of Multivariate Diffusions" (April 2009) [abstract, 51pp]  Reprinted in Annals of Statistics (2009), 37(6B): 4279-4312 [CFP 1283]
CFDP 1695 Bonatti, Alessandro
Hörner, Johannes
"Collaborating" (April 2009) [abstract, 76pp]
CFDP 1696 Campbell, John Y.
Shiller, Robert J.
Viceira, Luis M.
"Understanding Inflation-Indexed Bond Markets" (March 2009) [abstract, 47pp]
CFDP 1697 Bergemann, Dirk
Morris, Stephen
"Rationalizable Implementation" (March 2009) [abstract, 21pp]
CFDP 1698 Miller, David A.
Rozen, Kareen
"Monitoring with Collective Memory" (Revised October 2009) [abstract, 39pp]
CFDP 1699 Phillips, Peter C.B.
Wu, Yangru
Yu, Jun
"Explosive Behavior in the 1990s Nasdaq: When Did Exuberance Escalate Asset Values?" (June 2009) [abstract, 36pp]
CFDP 1700 Kasparis, Ioannis
Phillips, Peter C.B.
"Dynamic Misspecification in Nonparametric Cointegrating Regression" (June 2009) [abstract, 32pp]
CFDP 1701 Han, Chirok
Cho, Jin Seo
Phillips, Peter C.B.
"Infinite Density at the Median and the Typical Shape of Stock Return Distributions" (June 2009) [abstract, 32pp]
CFDP 1702 Phillips, Peter C.B.
Su, Liangjun
"Nonparametric Structural Estimation via Continuous Location Shifts in an Endogenous Regressor" (June 2009) [abstract, 42pp]
CFDP 1703 Cho, Jin Seo
Han, Chirok
Phillips, Peter C.B.
"LAD Asymptotics under Conditional Heteroskedasticity with Possibly Infinite Error Densities" (June 2009) [abstract, 10pp]
CFDP 1704 Phillips, Peter C.B.
Su, Liangjun
"A Paradox of Inconsistent Parametric and Consistent Nonparametric Regression" (June 2009) [abstract, 31pp]
CFDP 1705 Nordhaus, William D. "Measurement of Income with Time Use with Applications to Hedonic Indicators of Happiness and Misery"(June 2009) [abstract, 24pp]
CFDP 1706 Fair, Ray C. "Analyzing Macroeconomic Forecastability" (Updated September 2009) [abstract, 48pp]
CFDP 1707 Nordhaus, William D.
Oneal, John R.
Russett, Bruce
"The Effects of the Security Environment on Military Expenditures: Pooled Analyses of 165 Countries, 1950-2000" (Revised October 2009) [abstract, 34pp]
CFDP 1708 Geanakoplos, John
Karatzas, Ioannis
Shubik, Martin
Sudderth, William D.
"Inflationary Equilibrium in a Stochastic Economy with Independent Agents" [abstract, 30pp]
CFDP 1709 Geanakoplos, John
Dubey, Pradeep
"Credit Cards and Inflation" [abstract, 50pp]
CFDP 1710 Dubey, Pradeep
Geanakoplos, John
"Grading Exams: 100, 99, 98,...or A, B, C?" (June 2009) [abstract, 37pp]
CFDP 1711 Geanakoplos, John
Zeldes, Stephen P.
"Market Valuation of Accrued Social Security Benefits" (June 2009) [abstract, 31pp]
CFDP 1712 Qin, Cheng-Zhong
Shubik, Martin
"Selecting a Unique Competitive Equilibrium with Default Penalties" (July 2009) [abstract, 20pp]
CFDP 1713 Linton, Oliver
Song, Kyungchul
Whang, Yoon-Jae
"An Improved Bootstrap Test of Stochastic Dominance" (July 2009) [abstract, 43pp]
CFDP 1714 Anderson, Gordon
Linton, Oliver
Whang, Yoon-Jae
"Nonparametric Estimation of a Polarization Measure" (July 2009) [abstract, 48pp]
CFDP 1715 Geanakoplos, John "The Leverage Cycle" (July 2009) [abstract, 54pp]
CFDP 1716 Nordhaus, William D. "Alternative Policies and Sea-Level Rise in the RICE-2009 Model" (Revised August 29, 2009) [abstract, 28pp]
CFDP 1717 Kamstra, Mark
Shiller, Robert J.
"The Case for Trills: Giving the People and Their Pension Funds a Stake in the Wealth of the Nation" (August 2009) [abstract, 30pp]
CFDP 1718 Berry, Steven T.
Haile, Philip A.
"Nonparametric Identification of Multinomial Choice Demand Models with Heterogeneous Consumers" (August 2009) [abstract, 43pp]
CFDP 1719 Farmer, J. Doyne
Geanakoplos, John
"Hyperbolic Discounting Is Rational: Valuing the Far Future with Uncertain Discount Rates" (August 2009) [abstract, 17pp]
CFDP 1720 Kitamura, Yuichi
Otsu, Taisuke
Evdokimov, Kirill
"Robustness, Infinitesimal Neighborhoods, and Moment Restrictions" (August 2009) [abstract, 39pp]
CFDP 1721 Gautier, Eric
Kitamura, Yuichi
"Nonparametric Estimation in Random Coefficients Binary Choice Models" (August 2009) [abstract, 50pp]
CFDP 1722 Kitamura, Yuichi
Santos, Andres
Shaikh, Azeem M.
"On the Asymptotic Optimality of Empirical Likelihood for Testing Moment Restrictions" (August 2009) [abstract, 31pp]
CFDP 1723 Engel, Eduardo
Fischer, Ronald
Galetovic, Alexander
"Soft Budgets and Renegotiations in Public-Private Partnerships" (August 2009) [abstract, 34pp]
CFDP 1724 Marmer, Vadim
Otsu, Taisuke
"Optimal Comparison of Misspecified Moment Restriction Models" (August 2009) [abstract, 46pp]
CFDP 1725 Gilboa, Itzhak
Samuelson, Larry
"Subjectivity in Inductive Inference" (August 2009) [abstract, 48pp]
CFDP 1726 Hörner, Johannes
Samuelson, Larry
"Incentives for Experimenting Agents" (September 2009) [abstract, 65pp]
CFDP 1727 Fair, Ray C. "Possible Macroeconomic Consequences of Large Future Federal Government Deficits" (Revised October 2009) [abstract, 26pp]
CFDP 1728 Fair, Ray C. "Has Macro Progressed?" (September 2009) [abstract, 23pp]
CFDP 1729 Qin, Cheng-Zhong
Shapley, Lloyd S.
Shubik, Martin
"Marshallian Money, Welfare, and Side-Payments" (September 2009) [abstract, 26pp]
CFDP 1730 Huber, Juergen
Shubik, Martin
Sunder, Shyam
"Default Penalty as Disciplinary and Selection Mechanism in Presence of Multiple Equilibria" (October 2009) [abstract, 43pp]
CFDP 1731 Ai, Chunrong
Chen, Xiaohong
"Semiparametric Efficiency Bound for Models of Sequential Moment Restrictions Containing Unknown Functions" (October 2009) [abstract, 40pp]
CFDP 1732 Berry, Steven T.
Haile, Philip A.
"Identification of a Heterogeneous Generalized Regression Model with Group Effects" (October 2009) [abstract, 20pp]
CFDP 1733 Shubik, Martin "El Farol Revisited: A Note on Emergence, Game Theory and Society" (October 2009) [abstract, 4pp]
CFDP 1734 Chen, Yi-Chun
Di Tillio, Alfredo
Faingold, Eduardo
Xiong, Siyang
"Uniform Topologies on Types" (October 2009) [abstract, 37pp]
CFDP 1735 Maggi, Giovanni
Staiger, Robert W.
"Breach, Remedies and Dispute Settlement in Trade Agreements" (October 2009) [abstract, 52pp]
CFDP 1736 Vives, Xavier "Strategic Supply Function Competition with Private Information" (October 2009) [abstract, 79pp]
CFDP 1737 Hörner, Johannes
Rosenberg, Dinah
Solan, Eilon
Vieille, Nicolas
"On a Markov Game with One-Sided Incomplete Information" (November 2009) [abstract, 24pp]
CFDP 1738 Herrera, Helios
Hörner, Johannes
"Biased Social Learning" (November 2009) [abstract, 35pp]
CFDP 1739 Hörner, Johannes
Lovo, Stefano
Tomala, Tristan
"Belief-free Equilibria in Games with Incomplete Information: Characterization and Existence" (November 2009) [abstract, 70pp, Supplemental Appendix]
CFDP 1740 Lee, Sokbae
Whang, Yoon-Jae
"Nonparametric Tests of Conditional Treatment Effects" (November 2009) [abstract, 68pp]

Revised or Updated in 2009

No. Author(s) Title
CFDP 1561RR Bergemann, Dirk
Morris, Stephen
"Robust Implementation in Direct Mechanisms" (January 2009) [abstract, 39pp]
CFDP 1609RR Bergemann, Dirk
Morris, Stephen
"Robust Virtual Implementation" (January 2009) [abstract, 53pp]
CFDP 1622 Angerer, Martin
Huber, Juergen
Shubik, Martin
Sunder, Shyam
"An Economy with Personal Currency: Theory and Evidence" (January 2009) [abstract, 42pp] [Original title: "Everyone-a-banker or the Ideal Credit Acceptance Game: Theory and Evidence"]
CFDP 1623 Huber, Juergen
Shubik, Martin
Sunder, Shyam
"Three Minimal Market Games with Human and Algorithmic Agents: Theory and Experimental Evidence" (Revised June 2009) [56pp, abstract]
CFDP 1633R Bracha, Anat
Brown, Donald J.
"Affective Decision Making: A Behavioral Theory of Choice" (April 2009) [abstract, 22pp]
CFDP 1640R Chen, Xiaohong
Pouzo, Demian
"Efficient Estimation of Semiparametric Conditional Moment Models with Possibly Nonsmooth Residuals" (July 2009) [abstract, 33pp] Reprinted in Journal of Econometrics (September 2009), 152: 46-60 [CFP 1277]
CFDP 1641 Rozen, Kareen "Conflict Leads to Cooperation in Nash Bargaining" (Revised June 2009) [abstract, 17pp]
CFDP 1642R Rozen, Kareen "Foundations of Intrinsic Habit Formation" (March 2009) [abstract, 39pp] Supplemental Appendix
CFDP 1650R Chen, Xiaohong
Pouzo, Demian
"Estimation of Nonparametric Conditional Moment Models with Possibly Nonsmooth Generalized Residuals" (July 2009) [abstract, 50pp]
CFDP 1670 Ambrus, Attila
Rozen, Kareen
"Rationalizing Choice with Multi-Self Models" (October 2009) [abstract, 35pp, Supplementary appendix]
CFDP 1673R Llavador, Humberto
Roemer, John E.
Silvestre, Joaquim
"A Dynamic Analysis of Human Welfare in a Warming Planet" (April 2009) [abstract, 69pp]
CFDP 1682R Bergemann, Dirk
Hege, Ulrich
Peng, Liang
"Venture Capital and Sequential Investments" (March 2009) [abstract, 61pp]
CFDP 1682RR Bergemann, Dirk
Hege, Ulrich
Peng, Liang
"Venture Capital and Sequential Investments" (October 2009) [abstract, 64pp]
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