This paper is concerned with the problems of posterior simulation and model choice for Poisson panel data models with multiple random effects. Efficient algorithms based on Markov chain Monte Carlo methods for sampling the posterior distribution are developed. A new parameterization of the random effects and fixed effects is proposed and compared with a parameterization in common use, and computation of marginal likelihoods and Bayes factors via Chib’s (1995) method is also considered. The methods are illustrated with two real data applications involving large samples and multiple random effects.
Michael Porter and others have recently argued that suitable environmental regulations are likely to induce cost-reducing innovations. We analyze under which conditions such arguments might be consistent with microeconomic analysis, and under which additional conditions the firms' benefits might exceed the costs. It turns out that this requires fairly specific conditions.
Recently, the 'new economic geography' literature has developed as a theory of the emergence of large agglomerations which relies on increasing returns to scale and transportation costs. This literature builds on diverse intellectual traditions. It combines the insights of traditional regional science with those of modern trade theory and thus attempts to provide an integrative approach to interregional and international trade. The paper surveys this literature and discusses its relation to earlier approaches to similar topics.
Diese Woche startet die BrainFair Zürich, die gemeinsam von der ETH Zürich und der Universität Zürich organisiert wird. Mit dabei ist auch Prof. Christian Ruff vom Institut für Volkswirtschaftslehre: Im Diskussionsforum am Montagabend, 13. März 2017, ab 18.30 Uhr, beleuchtet der Neuroökonom wie unser Gehirn Entscheidungen trifft.
You are warmly invited to the inaugural lecture of Prof. Chat Wacharamanotham titled "How do we read statistics?". As an expert for Human–Computer Interaction (HCI), he studies how people use computers and how computers help, hinder, or (even unconsciously) influence their users. In this talk, Chat Wacharamanotham will discuss works in HCI, information visualization, and eye tracking research that reveal how people read statistics.
Wie schärft die Fakultät ihr Profil, warum wurde das Studienangebot neu strukturiert und weshalb bilden Ökonomie und Informatik ein so zugkräftiges Doppelgespann unter dem Dach der Wirtschaftswissenschaftlichen Fakultät? Diese und andere Fragen beantwortet Dekan Harald Gall im aktuellen Interview mit UZH News.
Als Mitglied der Expertenkommission Forschung und Innovation (EFI) übergab Frau Professor Dr. Uschi Backes-Gellner zusammen mit ihren Kommissionskollegen am 15. Februar 2017 das diesjährige EFI-Jahresgutachten an Bundeskanzlerin Angela Merkel.
Zum ersten Mal besiegt die Maschine den Mensch beim Pokern: Die Software «Libratus» von Tuomas Sandholm und Noam Brown von der Carnegie Mellon University schlägt die besten Pokerspieler, nachdem sie sich das Spiel selber beigebracht hatte. In einer Sendung von Schweizer Radio SRF kommentiert Prof. Abraham Bernstein vom Institut für Informatik die Vorteile von maschinellem Lernen bei unvollständigen Informationen.
He just finished his first semester at our Faculty: Francesco Reggiani joined the Department of Business Administration in August 2016 as Assistant Professor for Financial Accounting. Find out what he finds fascinating about his field of expertise and why he never stops learning.
On Thursday, 26 January 2017, Prof. Nyborg from the Department of Banking and Finance will present new research results on a topic so far neglected in the public discourse: the collateral policy of the European Central Bank. Which securities does the ECB accept in exchange for central bank money and how are these securities priced?
