Microeconomic Theory in Canada

 
 

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A website containing information about micro theory in Canada. This contains a working paper repository, linked to RePEc. Also links to the Canadian Economic Theory Conference.

Events
 
  • The faculty at the School of Economics and Finance of the University of Hong Kong and the economics department at the University of British Columbia hold a joint economic theory workshop each summer. The location alternates between UBC and UHK. The program typically consists of invited papers.

    Historically, the conference has had a great selection of junior and senior scholars. The number of invited speakers is quite small, which creates a good atmosphere for discussions and collaboration.

    For 2016, the workshop will take place in recently inaugurated Iona building at the University of British Columbia, in Vancouver, from August 3rd to 5th 2016. The speakers this year are

    • Kevin Leyton-Brown (UBC cs)
    • Joel Watson (UCSD)
    • Guofu tan (USC)
    • Hu Fu (Caltech/UBC cs)
    • Anne-Katrin Roesler (Michigan)
    • Brett Green (UC Berkeley)
    • Anna R. Karlin (University of Washington cs)
    • Simon Board (UCLA)
    • Jianrong Tian (UHK)
    • Yingni Guo (Northwestern)
    For more information contact Vitor Farinha Luz, Wing Suen, Li Hao or Michael Peters.





Recent Papers

  • Interview of Professor W. Erwin Diewert
    , , ,
    Diewert, W. Erwin, , erwin.diewert@ubc.ca
    Fox, Kevin J., , K.Fox@unsw.edu.au
    In this paper, Fox interviews Diewert on his academic career. His contributions to the development of flexible functional forms, superlative index numbers, the difference approach to index number theory, the measurement of waste, the user cost of capital, the measurement of Total Factor Productivity, the use of generalized concavity in economics, the measurement of financial sector outputs and inputs and the comparative statics of maximizing behavior are covered. His work on the development of international manuals on the Consumer Price Index, the Producer Price Index, on Property Prices and on the International Comparison of Prices is also noted. His pioneering work on the nonparametric of preferences and of technologies is also mentioned.
    Creation Date: 2016-04-08   Revision Date: 2016-04-08
  • The User Cost of Nonrenewable Resources and Green Accounting
    A fundamental problem in green accounting is the valuation of non-renewable resources. We derive and compare two alternative user cost approaches: taking unit rent as user cost, as used by the World Bank, and traditional user cost. We show that while they seem quite different, they coincide when beginning of period expectations are realized. Practical considerations lead us to recommend the traditional user cost approach. We show the implications for the calculation of net income for an economy.
    Creation Date: 2016-04-06   Revision Date: 2016-04-06
  • Inference for First-Price Auctions with Guerre, Perrigne, and Vuong's estimator
    Ma, Jun, , jun.ma@ruc.edu.cn
    Marmer, Vadim, , vadim.marmer@ubc.ca
    Shneyerov, Artyom, , achneero@alcor.concordia.ca
    Abstract In this paper, we focus on inference on the probability density function (PDF) of the valuations in the first-price sealed-bid auction models within the independent private value paradigm in the presence of auction-specific heterogeneity. We show the asymptotic normality of the two-step nonparametric estimator of Guerre et al. (2000, GPV), and propose an easily implementable and consistent estimator of the asymptotic variance of the two-step estimator. In addition, we prove the validity of the percentile bootstrap inference with the GPV estimator.
    Creation Date: 2016-03-04   Revision Date: 2016-03-04
  • Identifying Collusion in English Auctions
    Kaplan, Uma, ,
    Marmer, Vadim, , vadim.marmer@ubc.ca
    Shneyerov, Artyom, , achneero@alcor.concordia.ca
    We develop a fully nonparametric identification framework and a test of collusion in ascending bid auctions. Assuming efficient collusion, we show that the underlying distributions of values can be identified despite collusive behaviour when there is at least one bidder outside the cartel. We propose a nonparametric estimation procedure for the distributions of values and a bootstrap test of the null hypothesis of competitive behaviour against the alternative of collusion. Our framework allows for asymmetric bidders, and the test can be performed on individual bidders. The test is applied to the Guaranteed Investment Certificate auctions conducted by US municipalities over the Internet. Despite the fact that there have been allegations of collusion in this market, our test does not detect deviations from competition. A plausible explanation of this finding is that the Internet auction design involves very limited information disclosure.
    Creation Date: 2016-02-26   Revision Date: 2016-02-26
  • Parametric Recovery Methods: A Comparative Experimental Study
    Halevy, Yoram, , yoram.halevy@ubc.ca
    Zrill, Lanny, , lannyzrill@gmail.com
    We propose and implement an experimental methodology for comparing the predictive success of various methods for recovering individual preferences from choice data. We apply the proposed approach to a comparison of two parametric recovery methods: Non Linear Least Squares (NLLS) and the Money Metric Index (MMI). The former is based on minimizing the distance between observed and predicted choices while the latter is based on eliminating incompatibility between the ranking information encoded in choices and the ranking induced by the parametric specification. The experiment, in the context of choice under risk, involves a two-part design where choices made by subjects in the first part are used to construct their choice sets in the second part of the experiment in order to separate the predictions of the two recovery methods. We find that the Money Metric Index predicts better than NLLS in all cases and significantly better when the recovered parameters imply non-convex preferences.
    Creation Date: 2016-01-09   Revision Date: 2016-01-09