STANFORD INSTITUTE FOR THEORETICAL ECONOMICS

1999 SUMMER WORKSHOP - FINAL PROGRAM

JUNE 28 - AUGUST 6, 1999

 



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TABLE OF CONTENTS:


I. SEGMENT #1: Structural Econometric Models of Strategic Interaction and Dynamic Decision-Making

II. SEGMENT #2: Computational Economics and Economic Theory

III. SEGMENT #3: Intergenerational Issues in Public Economics

IV. SEGMENT #4: The Theory of Contracts and Organizations

V. SEGMENT #5: Micro Theory with Emphasis on General Equilibrium

VI. SEGMENT #6: Dynamics, Incentives and Expectations



I. SEGMENT #1: STRUCTURAL ECONOMETRIC MODELS OF STRATEGIC INTERACTION AND DYNAMIC DECISION-MAKING

ORGANIZED BY: FRANK WOLAK, ECONOMICS DEPARTMENT

DATE: JUNE 28 - JULY 1, 1999

MONDAY 28 JUNE

TIME: 10:30 - 11:30 A.M.

SPEAKER: Phillip Leslie - University of California at Los Angeles

TITLE: "Structural Econometric Analysis of Price Discrimination in Broadway Theatre"

TIME: 1:30 - 2:30 P.M.

SPEAKER: William Vogt - Carnegie Mellon University

TITLE: "Competition in the California Hospital Industry"

TIME: 3:00 - 4:00 P.M.

SPEAKER: Peter Davis - Sloan School, MIT

TITLE: "Spatial Competition in Retail Markets: Movie Theaters"


TUESDAY 29 JUNE

TIME: 10:30 - 11:30 A.M.

SPEAKER: Christopher Taber - Northwestern University

TITLE: "Tax Reform and Human Capital Accumation: Evidence from an Empirical General Equilibrium Model of Skill Formation"

TIME: 1:30 - 2:30 P.M.

SPEAKER: Victor Aguirregabiria - University of Chicago

TITLE: "Evaluating the Employment and Productivity Effects of Regulated Severance Payments Using an Industry Equilibrium Model"

TIME: 3:00 - 4:00 P.M.

SPEAKER: George J. Hall - Yale University

TITLE: "An Empirical Model of Inventory Investment by Durable Commodity Intermediaries"[Postscript file]


WEDNESDAY 30 JUNE

TIME: 10:30 - 11:30 A.M.

SPEAKER: Robert Porter - Northwestern University

TITLE: "Empirical Implications of Equilibrium Bidding in First Price, Symmetric, Common Value Auctions" [PDF file]

TIME: 1:30 - 2:30 P.M.

SPEAKER: Matthew Shum - University of Toronto

TITLE: "Structural Estimation of Parametric First-Price Auction Models"[Postscript file]

TIME: 3:00 - 4:00 P.M.

SPEAKER: Harry J. Paarsch - University of Iowa

TITLE: "Identification, Estimation, and Testing in Empirical Models of Sequential Ascending-Price Auctions with Multi-Unit Demand: An Application to Siberian Timber-Export Permits"


THURSDAY 1 JULY

TIME: 10:30 - 11:30 A.M.

SPEAKER: Patrick Bajari - Stanford University

TITLE: "Auction Econometrics When the Number of Bidders is Large"

TIME: 1:30 - 2:30 P.M.

SPEAKER: Richard Blundell - University College London

TITLE: "Nonparametric Engel Curves and Revealed Preference"[PDF file]

TIME: 3:00 - 4:00 P.M.

SPEAKER: Bernard Salanie - INSEE

TITLE: "Breaking Down Married Female Non-Employment in France"[Postscript file]


II. SEGMENT #2: COMPUTATIONAL ECONOMICS AND ECONOMIC THEORY

ORGANIZED BY: KENNETH L. JUDD, HOOVER INSTITUTION

DATE: JULY 6 - 9, 1999

TUESDAY 6 JULY

TIME: 9:30 -10:45 A.M.

SPEAKER: Kenneth L. Judd - Hoover Institution

TITLE: "Mergers in Dynamic Oligopoly"

TIME: 11:00 - 12:15 P.M.

SPEAKER: Luke M. Froeb - Vanderbilt University

TITLE: "Mergers Among Capacity-Constrained Firms"[PDF file]

TIME: 2:00 -3:15 P.M.

SPEAKER: Sarit Markovich - University of Chicago

TITLE: "Snowball - The Evolution of Dynamic Oligopolies with Network Externalities"[PDF file]

TIME: 3:45 - 5:00 P.M.

SPEAKER: Karl Schmedders - J.L. Kellogg Graduate School of Management

TITLE: "Recursive Equilibria in Economies with Incomplete Markets"


WEDNESDAY 7 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Bernhard von Stengel - London School of Economics

TITLE: "Computing Equilibria for Two-Person Games"[Postscript file]

TIME: 11:00 - 12:15 P.M.

SPEAKER: Ronald Peeters - Tilburg University

TITLE: "A Differentiable Homotopy to Compute Nash Equilibria of n-Person Games"[Postscript file]

TIME: 2:00 -3:15 P.M.

SPEAKER: Richard D. McKelvey - California Institute of Technology

TITLE: "Demonstration of Game-Solving Software"

TIME: 3:45 - 5:00 P.M.

SPEAKER: Mario J. Miranda and Ani Katchova - Ohio State University

TITLE: "Computational Solution of Constrained Dynamic Games with Application to Commodity Markets"


THURSDAY 8 JULY

TIME: 9:30 -10:45 A.M.

SPEAKER: Sevin Yeltekin - Stanford University and Kenneth L. Judd - Hoover Institution

TITLE: "Computing Supergame Equilibria."

TIME: 11:00 - 12:15 P.M.

SPEAKER: Ennio S. Stacchetti - University of Michigan

TITLE: "Sequential Equilibria in a Ramsey Taxes Model"

TIME: 2:00 - 3:15 P.M.

SPEAKER: Harry J. Paarsch - University of Iowa

TITLE: "Extending the Computational Horizon: Effective Distributed Resource-Bounded Computation for Intractable Problems"[Postscript file]

TIME: 3:45 - 5:00 P.M.

SPEAKER: Jacek B. Krawczyk - Victoria University of Wellington

TITLE: "Approximated Numerical Solutions to a Portfolio Management Problem"[Postscript file]


FRIDAY 9 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Jinill Kim - University of Virginia

TITLE: "Spurious Welfare Reversals in International Business Cycle Models"[PDF file]

TIME: 11:00 - 12:15 P.M.

SPEAKER: Yoav Shoham- Stanford University

TITLE: "Considerations of Computational Complexity and Incentive Compatibility in Combinatorial Auctions"



III. SEGMENT #3: INTERGENERATIONAL ISSUES IN PUBLIC ECONOMICS

ORGANIZED BY: THOMAS NECHYBA AND ANTONIO RANGEL

ECONOMICS DEPARTMENT

DATE: JULY 12 - JULY 16, 1999

<P MONDAY 12 JULY

TIME: 10:30 - 12:00 P.M.

SPEAKER: Douglas Bernheim - Stanford University

TITLE: "Bequests as Signals: Explanations for the Equal Division Puzzle, Unigeniture, and Recardian Non-equivalence"

TIME: 1:30 - 3:00 P.M.

SPEAKER: Henning Bohn - University of California at Santa Barbara

TITLE: "Risk Sharing in a Stochastic Overlapping Generations Economy"[Web site]

TIME: 3:50 - 5:00 P.M.

SPEAKER: Jorge Soares - George Washington University

TITLE: "Beyond Serrano vs Priest: National Funding of Education"


TUESDAY 13JULY

TIME: 10:30 - 12:00 P.M.

SPEAKER: Prajit Dutta - Columbia University

TITLE: "A Strategic Analysis of Global Warming"

TIME: 1:30 - 3:00 P.M.

SPEAKER: Laurence Kotlikoff - Boston University

TITLE: "Simulating the Transmission of Wealth Via Bequests"

TIME: 3:30 - 5:00 P.M.

SPEAKER: Casey Mulligan - University of Chicago

TITLE: "Gerontocracy, Retirement, and Social Security"[PDF file]


WEDNESDAY 14 JULY

TIME: 9:00 - 10:30 A.M.

SPEAKER: John Ledyard - California Institute of Technology

TITLE: "Repeated Implementation"[PDF file]

TIME: 11:00 - 12:30 P.M.

SPEAKER: Antonio Rangel - Stanford University

TITLE: "Government Investment in Equity Markets"

TIME: 2:00 - 3:30 P.M.

SPEAKER: Raquel Fernandez- New York University

TITLE: "Sorting and Long-run Inequality"[Scientific Word file]

TIME: 4:00 - 5:30 P.M.

SPEAKER: Geoffrey Heal - Columbia University

TITLE: "National Income and the Environment"[PDF file ]


THURSDAY 15 JULY

TIME: 10:30 - 12:00 P.M.

SPEAKER: Ken Shepsle - Harvard University

TITLE: "From Generation to Generation: A Formal Analysis of Intertemporal Strategic Interaction"[PDF file]

TIME: 1:30 - 3:00 P.M.

SPEAKER: Rowena Pecchenino - Michigan State University"

TITLE: "Healthy, Wealthy and Wise? A Macroeconomic Analysis of Publicly Funded Healthcare"[PDF file]

TIME: 3:30 - 5:00 P.M.

SPEAKER: Michele Boldrin- Universidad Carlos III

TITLE: "Intergenerational Transfer Institutions: Public Education and Public Pensions"[PDF file]


FRIDAY 16 JULY

TIME: 10:30 - 12:00 P.M.

SPEAKER: John Conley - University of Illinois

TITLE: "Intergenerational Spillovers and Interjurisdictional Competition"

TIME: 1:30 - 3:00 P.M.

SPEAKER: Christian Gollier - GREMAQ

TITLE: "Discounting an Uncertain Future"

TIME: 3:30 - 5:00 P.M.

SPEAKER: Peter Hammond - Stanford University

TITLE: "History as a Widespread Externality"



IV. SEGMENT #4: THE THEORY OF CONTRACTS AND ORGANIZATIONS

ORGANIZED BY: STEVE TADELIS, ECONOMICS DEPARTMENT AND JEFFREY ZWIEBEL, GRADUATE SCHOOL OF BUSINESS

DATE: JULY 19 - 22, 1999

MONDAY 19 JULY

TIME: 10:30 - 11:45 A.M.

SPEAKER: Hongbin Cai - UCLA

TITLE: "A Theory of Joint Asset Ownership"[PDF file]

TIME: 2:00 - 3:15 P.M.

SPEAKER: Sandeep Baliga - J.L. Kellogg Graduate School of Business

TITLE: "Not Invented Here"

TIME: 3:45 - 5:00 P.M.

SPEAKER: Andrew Newman - Columbia University

TITLE: "Interference: Contracting and Authority with Insecure Channels of Communication"[PDF file]


TUESDAY 20 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Ilya Segal - University of California at Berkeley

TITLE: "Coordination and Discrimination in Contracting With Externalities: Divide and Conquer?"

TIME: 11:00 - 12:15 P.M.

SPEAKER: Steve Tadelis - Stanford University

TITLE: "Incentives versus Transaction Costs: A Theory of Procurement Contracts"[Web site]

TIME: 2:00 - 3:15 P.M.

SPEAKER: Susan Athey - Massachusetts Institute of Technology

TITLE: "Optimal Collusion with Private Information"[PDF file] and "Collusion and Price Rigidity"[PDF file]


WEDNESDAY 21 JULY

TIME: 9:30- 10:45 A.M.

SPEAKER: Suzanne Scotchmer - University of California at Berkeley

TITLE: "Delegating Investment in a Common-Value Project"[PDF file]

TIME: 11:00 - 12:15 P.M.

SPEAKER: Zvika Neeman - Boston University

TITLE: "Corporate Vote-Trading as an Instrument of Corporate Governance"

TIME: 2:00- 3:15 P.M.

SPEAKER: Hideo Owan- Washington University

TITLE: "Specialization, Multiskilling and Human Capital: Complementarity vs. Substitutability"


THURSDAY 22 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: James Dana - J.L. Kellogg Graduate School of Business

TITLE: "Revenue Sharing, Demand Uncertainty, and Vertical Control of Competing Firms"[PDF file]

TIME: 11:00 - 12:15 P.M.

SPEAKER: Christopher Snyder - George Washington University

TITLE: "Property Rights, Incomplete Contracts and Social Harm"[PDF file]

TIME: 2:00 -3:15 P.M.

SPEAKER: Joel Watson - University of California at San Diego

TITLE: "Conditioning Institutions and Renegotiation"[PDF file]


V. SEGMENT #5: MICRO THEORY WITH EMPHASIS ON GENERAL EQUILIBRIUM

ORGANIZED BY: MORDECAI KURZ, ECONOMICS DEPARTMENT

DATE: JULY 26 - 30, 1999

 

MONDAY 26 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: William Brock joint with S.N. Durlauf - University of Wisconsin

TITLE: "Interaction-Based Modeling: Econometrics and Theory"[Web site]

TIME: 11:00 - 12:15 P.M.

SPEAKER: Walter Heller - University of California at San Diego

TITLE: "Contagion in Market Formation"

TIME: 1:30 - 2:45 P.M.

SPEAKER: Nabil Al-Najjar joint with R. Casadesus-Masanell and E. Ozdenoren - Northwestern University

TITLE: "Probabilistic Models of Complexity"

TIME: 3:00 - 4:15 P.M.

SPEAKER: Karl Vind - University of Copenhagen

TITLE: "Preferences Over Time"[Scientific Word file]


TUESDAY 27 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Dirk Bergemann - Yale University

TITLE: "Dynamic Common Agency"[Web page]

TIME: 11:00 - 12:15 P.M.

SPEAKER: Nicholas Yannelis - University of Illinois

TITLE: "On Bayesian Incentive Compatible Allocations"

TIME: 1:30 -2:45 P.M.

SPEAKER: Ross Starr- University of California at San Diego

TITLE: "Monetizing Trade: A Tatonnement Example"[PDF file]

TIME: 3:00 - 4:15 P.M.

SPEAKER: John Wooders - University of Arizona (with Diego Moreno)

TITLE: "Prices, Delay, and the Dynamics of Trade"[PDF file]


WEDNESDAY 28 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Mordecai Kurz joint with Maurizio Motolese - Stanford University

TITLE: "Endogenous Uncertainty and Market Volatility"[Web site]

TIME: 11:00 - 12:15 P.M.

SPEAKER: Ho-Mou Wu - National Taiwan University joint with Wen-Chung Guo - Yuan-Ze University

TITLE: "Asset Pricing with Speculative Trading"[PDF file]

TIME: 1:30 - 2:45 P.M.

SPEAKER: Alberto Bisin - New York University and Piero Gottardi - Brown University

TITLE: "On Decentralization Incentive Constraint Optima"

TIME: 3:00 - 4:15 P.M.

SPEAKER: Michael Magill- University of Southern California and Martine Quinzii - University of California at Davis

TITLE: "Efficiency of the Stock Market in the OLG Model with Production"


THURSDAY 29 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Alvaro Sandroni - Northwestern University

TITLE: "Calibration with Many Checking Rules"[Scientific Word file]

TIME: 11:00 - 12:15 P.M.

SPEAKER: Lawrence Blume - Cornell University

TITLE: "The Market Selection Hypothesis"[Web page]

TIME: 1:30 - 2:45 P.M.

SPEAKER: William Zame - University of California at Los Angeles and Chris Shannon - University of California at Berkeley

TITLE: "Quadratic Concavity and Determinacy of Equilibrium"[PDF file]

TIME: 3:00 - 4:15 P.M.

SPEAKER: Tarun Sabarwal - University of California at Berkeley

TITLE: "Default and Bankruptcy in General Equilibrium"


FRIDAY 30 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Beth Allen- University of Minnesota

TITLE: "On the Definition of Differentiated Products in the Real World"

TIME: 11:00 - 12:15 P.M.

SPEAKER: Kenneth L. Judd - Hoover Institution

TITLE: "Bifucation Methods for Asset Market Equilibrium Analysis"

TIME: 1:30 - 2:45 P.M.

SPEAKER: Rabee Tourkey - University of Melbourne and Nicholas Yannelis - University of Illinois

TITLE: "Does Differential Information Cause Market Incomleteness?"


I. SEGMENT #6: DYNAMICS, INCENTIVES AND EXPECTATIONS

ORGANIZED BY: THOMAS SARGENT, ECONOMICS DEPARTMENT

DATE: AUGUST 2 - 6, 1999

MONDAY 2 AUGUST

TIME: 2:15 - 3:30 P.M.

SPEAKER: Mordecai Kurz and Maurizio Motolese - Stanford University

TITLE: "Endogenous Uncertainty and Market Volatility"[Web site]

TIME: 3:45 - 5:00 P.M.

SPEAKER: In-Koo Cho - University of Illinois, with Thomas Sargent - Stanford University

TITLE: "Escaping Nash Inflation"[Postscript file][PDF file]


TUESDAY 3 AUGUST

TIME: 9:30 - 10:45 A.M.

SPEAKER: Ted Temzelides - University of Iowa, co-authored by D. Corbae and R. Wright

TITLE: "A Model of Matching and Money"[PDF file]

TIME: 11:00 - 12:15 P.M.

SPEAKER: Naryana Kocherlakota - University of Minnesota

TITLE: "The Two-Money Theorem"[PDF file]

TIME: 2:15 - 3:30 P.M.

SPEAKER: Stephen Williamson - University of Iowa, with Ted Temzelides

TITLE: "Payments Systems, Settlement, and Risk"[PDF file]

TIME: 3:45 - 5:00 P.M.

SPEAKER: Ethan Ligon - University of California at Berkeley

TITLE: "Lending in Hierarchies"[PDF file]


WEDNESDAY 4 AUGUST

TIME: 9:30 - 10:45 A.M.

SPEAKER: Cheng Wang - Carnegie-Mellon University

TITLE: "Dynamic Costly State Verification (I)"

TIME: 11:00 - 12:15 P.M.

SPEAKER: Per Krusell - University of Rochester, with Anthony A. Smith, Jr. - Carnegie Mellon University

TITLE: "Consumption and Savings Decisions with Quasi-Hyperbolic Discounting"[PDF file]

TIME: 2:15 - 3:30 P.M.

SPEAKER: Marco Bassetto - Northwestern University

TITLE: "Political Economy of Taxation in an Overlapping-Generations Economy"[PDF file]


THURSDAY 5 AUGUST

TIME: 9:30 - 10:45 A.M.

SPEAKER: Anthony A. Smith, Jr., with Cheng Wang - Carnegie Mellon University

TITLE: "Dynamic Contracts, Firms' Borrowing and Lending, and Equilibrium Investment"[Web page]

TIME: 11:00 - 12:15 P.M.

SPEAKER: Amir Yaron - Carnegie-Mellon University

TITLE: "Risk Sharing Over the Life Cycle: Genes or Labor Market Rick?"[PDF file ]

TIME: 2:15 - 3:30 P.M.

SPEAKER: Marcelo Veracierto - Federal Reserve Bank of Chicago, with Fernando Alvarez - University of Chicago

TITLE: "Firing Taxes and Temporary Contracts in an Equilibrium Search Model"

TIME: 3:45 - 5:00 P.M.

SPEAKER: Adriano Rampini - Northwestern University

TITLE: "Endogenous Risk, Incentives and Aggregate Fluctuations"[PDF file]


FRIDAY 6 AUGUST

TIME: 9:30 - 10:45 P.M.

SPEAKER: Lars Peter Hansen - University of Chicago

TITLE: "Robustness in General Equilibrium"[PDF file][Postscript file]

TIME: 11:00 - 12:15 P.M.

SPEAKER: Harold Cole - Federal Reserve Bank of Minneapolis, with Lee Ohanian

TITLE: "The Great Depression and the Weak Recovery"[Article]

TIME: 2:15 - 3:30 P.M.

SPEAKER: Andrew Atkeson - University of Minnesota and Federal Reserve Bank of Minneapolis, with Patrick Kehoe

TITLE: "Exchange-rate Based versus Money-based Policy: a Model of Transparency versus Control" [PDF file]

TIME: 3:45 - 5:00 P.M.

SPEAKER: Edward J. Green - Federal Reserve Bank of Minneapolis

TITLE: "Sharing the Cost of Settlement Failure" [PDF file]

 

 

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