Microeconomic Theory in Canada


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Canadian Economic Theory Conference
UBC Summer Workshop in Economic Theory
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.

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Recent Papers

  • No Two Experiments are Identical
    Epstein, Larry G., Boston University, lepstein@bu.edu
    Halevy, Yoram, University of British Columbia, yoram.halevy@ubc.ca
    We study choice between bets on the colors of two balls, where one ball is drawn from each of two urns. Though you are told the same about each urn, you are told very little, so that you are not given any reason to be certain that the compositions are identical. We identify choices that reveal an aversion to ambiguity about the relation between urns, thus identifying a source of uncertainty different from the usual Knightian distinction between risk and ambiguity. Choice behavior is studied in a controlled high-stakes laboratory experiment, and the ability of new and existing models to rationalize the experimental findings is examined.
    Creation Date: 2014-02-22   Revision Date: 2014-02-22
  • Competing Mechanisms
    Peters, Michael, University of British Columbia - Economics, peters@econ.ubc.ca
    The recent literature on competing mechanisms has devoted a lot of effort at understanding a very complex and abstract issue. In particular, an agent's type in a competitive environment is hard to conceptualize because it depends on information the agent has about what is going on in the rest of the market. This paper explains why this such an important practical problem and illustrates how the literature has 'solved' it.
    Creation Date: 2014-02-19   Revision Date: 2014-02-19
  • Supplement To "Weak Identification in Fuzzy Regression Discontinuity Designs"
    Feir, Donna, University of Victoria, dfeir@uvic.ca
    Lemieux, Thomas, University of British Columbia, Thomas.Lemieux@ubc.ca
    Marmer, Vadim, University of British Columbia - Economics, vmarmer@interchange.ubc.ca
    Abstract This paper reports the results of a Monte Carlo simulation study, which accompanies Marmer, Feir, and Lemieux, "Weak Identification in Fuzzy Regression Discontinuity Designs".
    Creation Date: 2014-01-23   Revision Date: 2014-01-23
  • Supplement to “Limited Participation in International Business Cycle Models: A Formal Evaluation”
    Gao, Xiaodan, National University of Singapore, bizgx@nus.edu.sg
    Hnatkovska, Viktoria, UBC, hnatkovs@mail.ubc.ca
    Marmer, Vadim, University of British Columbia - Economics, vmarmer@interchange.ubc.ca
    This paper contains supplemental material for Gao, Hnatkovska, and Marmer (2013) "Limited Participation in International Business Cycle Models: A Formal Evaluation".
    Creation Date: 2013-12-21   Revision Date: 2013-12-21
  • Matching by Luck or Search? Empirical Evidence from the Executive Labor Market
    Li, Kun, Toulouse,
    Peters, Michael, University of British Columbia - Economics, peters@econ.ubc.ca
    Xu, Pai, University of Hong Kong, paixu@hku.hk
    This paper provides a dynamic extension of Peters (2010) directed search model. The point is to characterize the evolution of wage outcomes over time. The primary result of that paper, which is reproduced here, is that workers use random application strategies when they are searching for new jobs. As a consequence, matching markets will be characterized by kind of mismatch of worker and firm types. This mismatch varies in a systematic way with worker types, making it possible to look for evidence of this mismatch in market data. The main predictions are that lower worker types should have a larger variance of lifetime income than high types do, and that there should be a limit on the auto correlation of lifetime income. In particular, these predictions make it possible to distinguish between the model presented here and earlier models, like Peters (2001) where market outcomes are uncorrelated over time, or Eeckhout and Kircher (2010) where outcomes are perfectly correlated over time. The paper then explores a dataset on the executive labor market from 1993 to 2009. Using wage histories to identify the unobservable types of the various workers, the paper proceeds to check some of the main predictions of the model. In addition, the 'type' information recovered from the data can be used to increase the explanatory power of the wage equation by up to 22 percentage points relative to what is is accomplished using observable characteristics alone.
    Creation Date: 2013-04-26   Revision Date: 2013-04-30