First, we replicate the remarkable result of Hossain & Morgan (AER 2009), in which subjects in an experimental market tip almost perfectly to the superior platform even if an inferior platform enjoys initial monopoly. Next, ...

We develop a model of oligopolistic competition under imperfect monitoring and dynamic observable demand. Efficient symmetric equilibria feature disciplined cooperative regimes interrupted by rare but severe price wars. ...

Literature review

Dette arbeidsnotatet er en samling av Arne Jon Isachsens "Månedsbrevet" fra årets seks første måneder. Følgende artikler er inkludert i notatet: 1) På vandring; 2) Hva er luksus?; 3) Bjørnen sover, eller…?; 4) LTRO; 5) ...

We aim to explain petro populism|the excessive use of oil revenues to buy political support. To reap the full gains of natural resource income politicians need to remain in office over time. Hence, even a rent-seeking ...

Thomas Piketty’s Capital in the Twenty-First Century is a valuable contribution to the history of wealth and income distribution. But Piketty’s theory about wealth and income distribution as encapsulate in his laws ...

Cryptocurrencies have recently gained a lot of interest from investors, central banks and governments worldwide. The lack of any form of political regu- lation and their market far from being “efficient”, require new forms ...

Literature review

This paper proposes a novel asymmetric continuous probabilistic score (ACPS) for evaluating and comparing density forecasts. It extends the proposed score and defines a weighted version, which emphasizes regions of interest, ...