Yale University

Displaying 1-40 of 147 results

  • White Papers // Jan 2014

    Query Optimization of Distributed Pattern Matching

    Greedy algorithms for subgraph pattern matching operations are often sufficient when the graph data set can be held in memory on a single machine. However, as graph data sets increasingly expand and require external storage and partitioning across a cluster of machines, more sophisticated query optimization techniques become critical to...

    Provided By Yale University

  • White Papers // Jun 2013

    Modularity and Scalability in Calvin

    Calvin is a transaction scheduling and replication management layer for distributed storage systems. By first writing transaction requests to a durable, replicated log, and then using a concurrency control mechanism that emulates a deterministic serial execution of the log's transaction requests, Calvin sup-ports strongly consistent replication and fully ACID distributed...

    Provided By Yale University

  • White Papers // May 2012

    Icebergs in the Clouds: The Other Risks of Cloud Computing

    Cloud computing is appealing from management and efficiency perspectives, but brings risks both known and unknown. Well-known and hotly-debated information security risks, due to software vulnerabilities, insider attacks, and side-channels for example, may be only the "Tip of the iceberg." As diverse, independently developed cloud services share ever more fluidly...

    Provided By Yale University

  • White Papers // May 2012

    Plugging Side-Channel Leaks With Timing Information Flow Control

    The cloud model's dependence on massive parallelism and resource sharing exacerbates the security challenge of timing side-channels. Timing Information Flow Control (TIFC) is a novel adaptation of IFC techniques that may offer a way to reason about, and ultimately control, the flow of sensitive information through systems via timing channels....

    Provided By Yale University

  • White Papers // Jan 2012

    FORBID: Cope With Byzantine Behaviors in Wireless Multi-Path Routing and Forwarding

    Consider multi-path routing and forwarding scenarios in wireless ad hoc networks. Rational and Byzantine nodes both might deviate from the protocol. However, their intentions and behaviors are different. To extend the authors' previous work on Generalized Second Price (GSP) auction for stimulating rational nodes for cooperation, they propose FORBID mechanism...

    Provided By Yale University

  • White Papers // Jul 2011

    Tranching, CDs And Asset Prices: How Financial Innovation Can Cause Bubbles And Crashes

    The authors show how the timing of financial innovation might have contributed to the mortgage boom and then to the bust of 2007-2009. They study the effect of leverage, tranching, securitization and CDS on asset prices in a general equilibrium model with collateral. They show why tranching and leverage tend...

    Provided By Yale University

  • White Papers // Jul 2011

    Pricing And Investments In Matching Markets

    Different markets are cleared by different types of prices - seller-specific prices that are uniform across buyers in some markets, and personalized prices tailored to the buyer in others. The authors examine a setting in which buyers and sellers make investments before matching in a competitive market. They introduce the...

    Provided By Yale University

  • White Papers // Jun 2011

    Minion - An All-Terrain Packet Packhorse to Jump-Start Stalled Internet Transports

    Transport layer evolution is stuck. A proliferation of middleboxes in the Internet has shifted the waist of the hourglass upward from IP to include legacy transports. While popular for many different reasons, middleboxes deviate from the Internet's end-to-end design, creating large deployment "Black-holes" - singularities where legacy transports get through,...

    Provided By Yale University

  • White Papers // Jun 2011

    A World Macro Saving Fact And An Explanation

    The world macro saving fact concerns the total financial saving of the world's private sector divided by world GDP. Relative to changes before 1994, there was a huge fall in this ratio between 1995 and 2000, a huge increase between 2000 and 2003, a huge fall between 2003 and 2006,...

    Provided By Yale University

  • White Papers // Jun 2011

    Endowments And Investments Within The Household: Evidence From Iodine Supplementation On Tanzania

    Standard theories of resource allocation within the household posit that parents' investments in their children reflect a combination of children's endowments and parents' preferences for child quality. The authors study how changes in children's cognitive endowments affect the distribution of parental investments amongst siblings, using data from a large-scale iodine...

    Provided By Yale University

  • White Papers // May 2011

    Dynamic Strategic Information Transmission

    This paper studies strategic information transmission in a dynamic environment where, each period, a privately informed expert sends a message and a decision maker takes an action. The authors' main result is that, in contrast to a static environment, full information revelation is possible. The gradual revelation of information and...

    Provided By Yale University

  • White Papers // May 2011

    An Achievable Rate Region for the Broadcast Channel With Feedback

    A single-letter achievable rate region is proposed for the two-receiver discrete memory-less broadcast channel with noiseless or noisy feedback. The coding strategy involves block-Markov superposition coding using Marton's coding scheme for the broadcast channel without feedback as the starting point. If the message rates in the Marton scheme are too...

    Provided By Yale University

  • White Papers // May 2011

    Endogenous Leverage: VAR And Beyond

    The authors study endogenous leverage in a general equilibrium model with incomplete markets. They prove that in any binary tree leverage emerges in equilibrium at the maximum level such that VaR=0, so there is no default in equilibrium, provided that agents get no utility from holding the collateral. When the...

    Provided By Yale University

  • White Papers // May 2011

    Penalized Sieve Estimation And Inference Of Semi-nonparametric Dynamic Models: A Selective Review

    In this selective review, the authors first provide some empirical examples that motivate the usefulness of semi-nonparametric techniques in modelling economic and financial time series. They describe popular classes of semi-nonparametric dynamic models and some temporal dependence properties. They then present Penalized Sieve Extremum (PSE) estimation as a general method...

    Provided By Yale University

  • White Papers // May 2011

    A Practical Asymptotic Variance Estimator For Two-step Semiparametric Estimators

    The goal of this paper is to develop techniques to simplify semiparametric inference. The authors do this by deriving a number of numerical equivalence results. These illustrate that in many cases, one can obtain estimates of semiparametric variances using standard formulas derived in the already-well-known parametric literature. This means that...

    Provided By Yale University

  • White Papers // May 2011

    Empirical Likelihood For Regression Discontinuity Design

    This paper proposes empirical likelihood based inference methods for causal effects identified from regression discontinuity designs. The authors consider both the sharp and fuzzy regression discontinuity designs and treat the regression functions as nonparametric. The proposed inference procedures do not require asymptotic variance estimation and the confidence sets have natural...

    Provided By Yale University

  • White Papers // May 2011

    Large Deviations Of Realized Volatility

    This paper studies large and moderate deviation properties of a realized volatility statistic of high frequency financial data. The authors establish a large deviation principle for the realized volatility when the number of high frequency observations in a fixed time interval increases to infinity. Their large deviation result can be...

    Provided By Yale University

  • White Papers // May 2011

    Social Policy & U.S. Poverty 1960-1999: An Economic History

    Interrogates poverty debate (growth versus redistribution) reignited by underperforming poverty reductions during 1980s' social spending austerity compared to 1960s' "War on Poverty." Growth and inequality explain 75% 1959-1999 poverty variation; census measurement changes 17%. Significantly, census measurement changes plus overestimated inflation biased-up 1980s measured poverty (deflated 1960s) partly explaining eighties'...

    Provided By Yale University

  • White Papers // Apr 2011

    Eyo: Device-Transparent Personal Storage

    Users increasingly store data collections such as digital photographs on multiple personal devices, each of which typically offers a storage management interface oblivious to the contents of the user's other devices. As a result, collections become disorganized and drift out of sync. This paper presents Eyo, a novel personal storage...

    Provided By Yale University

  • White Papers // Apr 2011

    Continuous Workout Mortgages

    This paper models Continuous Workout Mortgages (CWMs) in an economic environment with refinancings and prepayments by employing a market-observable variable such as the house price index of the pertaining locality. The authors' main results include: explicit modelling of repayment and interest-only CWMs; closed form formulae for mortgage payment and mortgage...

    Provided By Yale University

  • White Papers // Apr 2011

    Deterministic OpenMP for Race-Free Parallelism

    Recent deterministic parallel programming models show promise for their ability to replay computations and reproduce bugs, but they currently require the programmer to adopt restrictive or unfamiliar parallel constructs. Deterministic OpenMP (DOMP) is a new deterministic parallel environment built on the familiar OpenMP framework. By leveraging OpenMP's block-structured synchronization annotations,...

    Provided By Yale University

  • White Papers // Apr 2011

    Quantile Regression With Censoring And Endogeneity

    In this paper, the authors develop a new Censored Quantile Instrumental Variable (CQIV) estimator and describe its properties and computation. The CQIV estimator combines Powell (1986) Censored Quantile Regression (CQR) to deal semiparametrically with censoring, with a control variable approach to incorporate endogenous regressors. The CQIV estimator is obtained in...

    Provided By Yale University

  • White Papers // Apr 2011

    Robustness Of Bootstrap In Instrumental Variable Regression

    This paper studies robustness of bootstrap inference methods for instrumental variable regression models. In particular, the authors compare the uniform weight and implied probability bootstrap approximations for parameter hypothesis test statistics by applying the breakdown point theory, which focuses on behaviors of the bootstrap quantiles when outliers take arbitrarily large...

    Provided By Yale University

  • White Papers // Apr 2011

    Local Identification Of Nonparametric And Semiparametric Models

    In parametric models a sufficient condition for local identification is that the vector of moment conditions is differentiable at the true parameter with full rank derivative matrix. The authors show that there are corresponding sufficient conditions for nonparametric models. A nonparametric rank condition and differentiability of the moment conditions with...

    Provided By Yale University

  • White Papers // Apr 2011

    Breakdown Point Theory For Implied Probability Bootstrap

    This paper studies robustness of bootstrap inference methods under moment conditions. In particular, the authors compare the uniform weight and implied probability bootstraps by analyzing behaviors of the bootstrap quantiles when outliers take arbitrarily large values, and derive the breakdown points for those bootstrap quantiles. The breakdown point properties characterize...

    Provided By Yale University

  • White Papers // Apr 2011

    Empirical Likelihood For Nonparametric Additive Models

    Nonparametric additive modeling is a fundamental tool for statistical data analysis which allows flexible functional forms for conditional mean or quantile functions but avoids the curse of dimensionality for fully nonparametric methods induced by high-dimensional covariates. This paper proposes empirical likelihood-based inference methods for unknown functions in three types of...

    Provided By Yale University

  • White Papers // Apr 2011

    Second-Order Refinement Of Empirical Likelihood For Testing Overidentifying Restrictions

    This paper studies second-order properties of the empirical likelihood overidentifying restriction test to check the validity of moment condition models. The authors show that the empirical likelihood test is Bartlett correctable and suggest second-order refinement methods for the test based on the empirical Bartlett correction and adjusted empirical likelihood. The...

    Provided By Yale University

  • White Papers // Apr 2011

    Political Mergers As Coalition Formation

    Political coalition formation games can describe the formation and dissolution of nations, as well as the creation of coalition governments, the establishment of political parties, and other similar phenomena. These games have been studied from a theoretical perspective, but the resulting models have not been used extensively in empirical work....

    Provided By Yale University

  • White Papers // Mar 2011

    Identification In A Class Of Nonparametric Simultaneous Equations Models

    The authors consider identification in a class of nonparametric simultaneous equations models introduced by Matzkin (2008). These models combine standard exclusion restrictions with a requirement that each structural error enter through a "Residual index" function. They provide constructive proofs of identification under several sets of conditions, demonstrating tradeoffs between restrictions...

    Provided By Yale University

  • White Papers // Mar 2011

    Wire-Compatible Unordered Delivery in TCP and TLS

    The performance of many common Internet applications can benefit from out-of-order delivery, a feature all IETF transports since TCP have included. Yet latency-sensitive applications still frequently build on in-order TCP despite its performance drawbacks, for reasons such as network compatibility and TCP's cultural inertia. The authors introduce uTCP, an API...

    Provided By Yale University

  • White Papers // Mar 2011

    Cost Innovation: Schumpeter And Equilibrium. Part 1. Robinson Crusoe

    Modifying a parallel dynamic programming approach to a simple deterministic economy, the authors consider the effect of an innovation in the means of production. The success of the innovation is assumed to depend on the availability of financing, locus of financial control, the amount of resources invested, and on a...

    Provided By Yale University

  • White Papers // Mar 2011

    Hodges-Lehmann Optimality For Testing Moment

    This paper studies the Hodges and Lehmann (1956) optimality of tests in a general setup. The tests are compared by the exponential rates of growth to one of the power functions evaluated at a fixed alternative while keeping the asymptotic sizes bounded by some constant. The authors present two sets...

    Provided By Yale University

  • White Papers // Mar 2011

    Economists As Worldly Philosophers

    While leading figures in the early history of economics conceived of it as inseparable from philosophy and other humanities, there has been movement, especially in recent decades, towards its becoming an essentially technical field with narrowly specialized areas of inquiry. Certainly, specialization has allowed for great progress in economic science....

    Provided By Yale University

  • White Papers // Mar 2011

    Cost Innovation: Schumpeter And Equilibrium - Part 1: Robinson Crusoe

    Modifying a parallel dynamic programming approach to a simple deterministic economy, the authors consider the effect of an innovation in the means of production. The success of the innovation is assumed to depend on the availability of financing, locus of financial control, the amount of resources invested, and on a...

    Provided By Yale University

  • White Papers // Mar 2011

    Healthcare Choices, Information And Health Outcomes

    Self-selection into healthcare options biases estimates of the effects of healthcare on health outcomes. The authors exploit exogenous variation in the cost of formal-sector care to show that the use of such care improves short-term health outcomes for acutely ill children in Tanzania. Better treatment-specific information, rather than greater access...

    Provided By Yale University

  • White Papers // Mar 2011

    Labor Complementarities And Health In The Agricultural Household

    Models of the agricultural household have traditionally relied on assumptions regarding the complementarity or substitutability of family labor inputs. The authors show how data on time allocations, health shocks and corresponding treatment choices can be used to test these assumptions. Data from Tanzania provide evidence that complementarities exist and can...

    Provided By Yale University

  • White Papers // Mar 2011

    Labor Supply, Schooling And The Returns To Healthcare In Tanzania

    The authors estimate the effects of higher quality healthcare usage on health, labor supply and schooling outcomes for sick individuals in Tanzania. Using exogenous variation in the cost of formal sector healthcare to predict treatment choice, they show that using better quality care improves health outcomes and changes the allocation...

    Provided By Yale University

  • White Papers // Feb 2011

    Building Deterministic Transaction Processing Systems Without Deterministic Thread Scheduling

    Standard implementations of transactional systems such as database systems allow several sources of non-determinism to introduce unpredictable behavior. The recent introduction of an architecture and execution model that isolates sources of nondeterministic behavior in online transaction processing systems in order to yield deterministic transaction results makes active replication easier and...

    Provided By Yale University

  • White Papers // Feb 2011

    Specification Testing For Nonlinear Cointegrating Regression

    The authors provide a limit theory for a general class of kernel smoothed U statistics that may be used for specification testing in time series regression with nonstationary data. The framework allows for linear and nonlinear models of cointegration and regressors that have autoregressive unit roots or near unit roots....

    Provided By Yale University

  • White Papers // Feb 2011

    High-Throughput Routing With Superposition Coding and Successive Interference Cancellation

    Network coding aware routing protocols have been an interesting research topic in recent years. In this paper, the authors explore similar routing gains with physical layer coding techniques. A source routing protocol S3 is proposed to be implemented with a routing metric called iETT. By extending the traditional ETT measurement,...

    Provided By Yale University

  • White Papers // Jun 2004

    Affective Decision Making in Insurance Markets

    This paper suggests incorporating affective considerations into decision-making theory and insurance decision in particular. It describes decision maker with two internal accounts - the rational account and the mental account. The rational account decides on insurance to maximize expected (perceived) utility, while the mental account chooses risk perceptions, which then...

    Provided By Yale University

  • White Papers // Sep 2006

    Best Practice In Internal Oversight Of Lobbying Practice

    This paper makes a case for rapid adoption of best practices in corporate governance of corporate lobbying activities. Best practice requires oversight and approval of significant lobbying activities, expenditures and positions by a standing board committee of independent directors. Leading companies on this issue have recognized that lobbying on public...

    Provided By Yale University

  • White Papers // Jan 2010

    On Self Adaptive Routing in Dynamic Environments - An Evaluation and Design Using a Simple, Probabilistic Scheme

    Recently authors have seen an emergent trend of self adaptive routing in both Internet and wireless ad hoc networks. Although there are previous methods for computing the traffic equilibria of self adaptive routing (e.g., selsh routing), these methods use computationally demanding algorithms and require that a precise analytical model of...

    Provided By Yale University

  • White Papers // Jan 2010

    Proportional Fairness in Multi-Rate Wireless LANs

    In multi-rate wireless LANs, throughput-based fair bandwidth allocation can lead to drastically reduced aggregate throughput. To balance aggregate throughput while serving users in a fair manner, proportional fair or time-based fair scheduling has been proposed to apply at each Access Point (AP). However, since a realistic deployment of wireless LANs...

    Provided By Yale University

  • White Papers // Oct 2009

    The WTO: Theory And Practice

    The authors consider the purpose and design of the World Trade Organization (WTO) and its predecessor, GATT. The authors review recent developments in the relevant theoretical and empirical literature. And the authors describe the GATT/WTO architecture and briefly trace its historical antecedents. The authors suggest that the existing literature provides...

    Provided By Yale University

  • White Papers // Jan 2011

    Network Localization in Partially Localizable Networks

    Knowing the positions of the nodes in a network is essential to many next generation pervasive and sensor network functionalities. Although many network localization systems have recently been proposed and evaluated, there has been no systematic study of partially localizable networks, i.e., networks in which there exist nodes whose positions...

    Provided By Yale University

  • White Papers // Oct 2009

    LTML - A Language for Representing Semantic Web Service Workflow Procedures

    The Learnable Task Modeling Language (LTML) was developed by combining features of OWL, OWL-S, and PDDL, using a more compact and readable syntax than OWL/RDF to create human readable representations of web service procedures and hierarchical task models. The goal was in part to develop a more robust and developer-friendly...

    Provided By Yale University

  • White Papers // Aug 2010

    Participatory Decision Making: A Field Experiment On Manipulating The Votes

    Many believe that deliberative democracy, where individuals discuss alternatives before voting on them, should result in collectively superior outcomes because voters become better informed and decisions are justified using reason. These deliberations typically involve a moderator, however, whose role has been under-examined. The authors conduct a field experiment to test...

    Provided By Yale University

  • White Papers // Nov 2009

    Non-Compete Covenants: Incentives To Innovate Or Impediments To Growth

    The authors find that the enforcement of non-compete clauses significantly impedes entrepreneurship and employment growth. Based on a panel of metropolitan areas in the United States from 1993 to 2002, the results indicate that, relative to states that enforce non-compete covenants, an increase in the local supply of venture capital...

    Provided By Yale University

  • White Papers // Mar 2010

    Usability of Browser-Based Tools for Web-Search Privacy

    Web search is currently a source of growing concern about personal privacy. It is an essential and central part of most users' activity online and therefore one through which a significant amount of personal information may be revealed. In an earlier paper, the authors showed that there are security weaknesses...

    Provided By Yale University

  • White Papers // Feb 2010

    Life Cycle Cost Disclosure,Consumer Behavior, And Business Implications

    Comprehensive assessments of final consumption have identified "Housing" as a major contributor to total environmental impacts. Do consumers opt for more energy-efficient household appliances if they are provided with Life Cycle Cost (LCC) - that is, the sum of purchase price and operating cost estimated over the life span of...

    Provided By Yale University

  • White Papers // Aug 2010

    Weak Updates and Separation Logic

    Separation logic provides a simple but powerful technique for reasoning about low-level imperative programs that use shared data structures. Unfortunately, separation logic supports only "Strong updates", in which mutation to a heap location is safe only if a unique reference is owned. This limits the applicability of separation logic when...

    Provided By Yale University

  • White Papers // Nov 2010

    Revealed Preferences For Risk And Ambiguity

    The authors replicate the essentials of the Huettel et al. (2006) experiment on choice under uncertainty with 30 Yale undergraduates, where subjects make 200 pair wise choices between risky and ambiguous lotteries. Inferences about the independence of economic preferences for risk and ambiguity are derived from estimation of a mixed...

    Provided By Yale University

  • White Papers // Mar 2011

    Cost Innovation: Schumpeter And Equilibrium. Part 1. Robinson Crusoe

    Modifying a parallel dynamic programming approach to a simple deterministic economy, the authors consider the effect of an innovation in the means of production. The success of the innovation is assumed to depend on the availability of financing, locus of financial control, the amount of resources invested, and on a...

    Provided By Yale University

  • White Papers // Oct 2009

    The Gender And Generational Consequences Of The Demographic Transition and Population Policy: An Assessment Of The Micro And Macro Linkages

    The demographic transition changes the age composition of a population, affecting resource allocations at the household and aggregate level. If age profiles of income, consumption, savings and investments were stable and estimable for the entire population, they might suggest how the demographic transition would affect inputs to growth. However, existing...

    Provided By Yale University

  • White Papers // Jun 2010

    Did the Cooperative Start Life As A Joint-Stock Company? Business Law And Cooperatives In Spain, 1869 - 1931

    Papers of Spanish cooperatives date their spread from the Law on Agrarian Syndicates of 1906. But the first legislative appearance of cooperatives is an 1869 measure that permitted general incorporation for lending companies. The 1931 general law on cooperatives, which were the first act permitting the formation of cooperatives in...

    Provided By Yale University

  • White Papers // Oct 2009

    Collateralized Debt Obligations And Credit Risk Transfer

    Financial institutions face five major risks: credit, interest rate, price, currency, and liquidity. The development of the derivatives markets prior to 1990 provided financial institutions with efficient vehicles for the transfer of interest rate, price, and currency risks, as well as enhancing the liquidity of the underlying assets. However, it...

    Provided By Yale University

  • White Papers // Oct 2010

    Venture Capital And Sequential Investments

    The authors present a dynamic model of venture capital financing, described as a sequential in-vestment problem with uncertain outcome. Each venture has a critical, but unknown threshold beyond which it cannot progress. If the threshold is reached before the completion of the project, then the project fails, otherwise it succeeds....

    Provided By Yale University

  • White Papers // Aug 2010

    Managing Strategic Buyers

    The authors consider the problem of a monopolist who must sell her inventory before some deadline, facing n buyers with independent private values. The monopolist posts prices but has no commitment power. The seller faces a basic trade-off between imperfect price discrimination and maintaining an effective reserve price. When there...

    Provided By Yale University

  • White Papers // Nov 2009

    Thirty Years Of Corporate Governance: Firms Valuations & Stock Returns

    This paper introduces a dataset tracking approximately 1,000 firms' G- and E-index scores, as well the individual corporate governance provisions constituting these indexes, over the 1978-1989 periods. Combining this data with the 1990-2006 IRRC data, the authors are able to track firms' corporate governance over a thirty year period. Most...

    Provided By Yale University

  • White Papers // Mar 2006

    Optimal Pricing With Recommender Systems

    The authors study optimal pricing in the presence of recommender systems. A recommender system affects the market in two ways: It creates value by reducing product uncertainty for the customers and hence, its recommendations can be offered as add-ons which generate informational externalities. The quality of the recommendation add-on is...

    Provided By Yale University

  • White Papers // Aug 2009

    Soft Budgets And Renegotiations In Public-Private Partnerships

    Public-Private Partnerships (PPPs) are increasingly used to provide infrastructure services. Even though PPPs have the potential to increase efficiency and improve resource allocation, contract renegotiations have been pervasive. The authors show that existing accounting standards allow governments to renegotiate PPP contracts and elude spending limits. This model of renegotiations leads...

    Provided By Yale University

  • White Papers // Sep 2009

    Incentives For Experimenting Agents

    The authors examine a repeated interaction between an agent, who undertakes experiments, and a principal who provides the requisite funding for these experiments. The agent's actions are hidden, and the principal, who makes the offers, cannot commit to future actions. They identify the unique Markovian equilibrium (whose structure depends on...

    Provided By Yale University

  • White Papers // Jan 2010

    Pricing In Matching Markets

    Different markets are cleared by different types of prices a universal price for all buyers and sellers in some markets, seller-specific prices that are uniform across buyers in others, and personalized prices tailored to the buyer and the seller in yet others. The authors introduce the notion of remuneration values...

    Provided By Yale University

  • White Papers // Mar 2010

    Targeting In Advertising Markets: Implications For Offline Vs. Online Media

    The authors develop a model with many heterogeneous advertisers (products) and advertising markets (media). Each advertiser has a different consumer segment for its product, and each medium has a different ability to target advertisement messages. They characterize the competitive equilibrium in the media markets and investigate the role of targeting...

    Provided By Yale University

  • White Papers // Mar 2010

    Affective Decision-Making: A Theory Of Optimism-Bias

    Optimism-bias is inconsistent with the independence of decision weights and payoffs found in models of choice under risk, such as expected utility theory and prospect theory. Hence, to explain the evidence suggesting that agents are optimistically biased, the authors propose an alternative model of risky choice, affective decision-making, where decision...

    Provided By Yale University

  • White Papers // May 2010

    The Role Of Commitment In Bilateral Trade

    The authors examine the buyer-seller problem under different levels of commitment. The seller is informed of the quality of the good, which affects both his cost and the buyer's valuation, but the buyer is not. They characterize the allocations that can be achieved through mechanisms in which, unlike with full...

    Provided By Yale University

  • White Papers // Oct 2010

    Is There Surplus Labor In Rural India?

    The authors show empirically using panel data at the plot and farm level and based on a model incorporating supervision costs, risk, credit-market imperfections and scale-economies associated with mechanization that small-scale farming is inefficient in India. Larger farms are more profitable per acre, more mechanized; less constrained in input use...

    Provided By Yale University

  • White Papers // Dec 2010

    A New Achievable Rate Region for the Multiple Access Channel With Noiseless Feedback

    A new single-letter achievable rate region is proposed for the two-user discrete memoryless Multiple-Access Channel(MAC) with noiseless feedback. The proposed region includes the Cover-Leung rate region, and it is shown that the inclusion is strict. The proof uses a block-Markov superposition strategy based on the observation that the messages of...

    Provided By Yale University

  • White Papers // Mar 2010

    Microeconomic Approaches To Development: Schooling, Learning, And Growth

    The author illustrates the variety of approaches to development issues microeconomists employ, focusing on studies that illuminate and quantify the major mechanisms posited by growth theorists who highlight the role of education in fostering growth. The author begins with a basic issue: what are the returns to schooling? The author...

    Provided By Yale University

  • White Papers // Apr 2011

    Eyo: Device-Transparent Personal Storage

    Users increasingly store data collections such as digital photographs on multiple personal devices, each of which typically offers a storage management interface oblivious to the contents of the user's other devices. As a result, collections become disorganized and drift out of sync. This paper presents Eyo, a novel personal storage...

    Provided By Yale University

  • White Papers // Jan 2006

    Understanding Overbidding In Second Price Auctions: An Experimental Study

    This paper presents results from a series of Second Price Private value Auction (SPA) experiments in which bidders are either given for free, or are allowed to purchase, noisy signals about their opponents' value. Even though theoretically such information about opponents' value has no strategetic use in the SPA, it...

    Provided By Yale University

  • White Papers // Jan 2011

    How Financial Literacy And Impatience Shape Retirement Wealth And Investment Behaviors

    Two competing explanations for why consumers have trouble with financial decisions are gaining momentum. One is that people are financially illiterate since they lack understanding of simple economic concepts and cannot carry out computations such as computing compound interest, which could cause them to make suboptimal financial decisions. A second...

    Provided By Yale University

  • White Papers // Jan 2011

    On Self Adaptive Routing in Dynamic Environments- An Evaluation and Design Using a Simple, Probabilistic Scheme

    Recently the authors have seen an emergent trend of self adaptive routing in both Internet and wireless ad hoc networks. Although there are previous methods for computing the traffic equilibria of self adaptive routing (e.g., selfish routing), these methods use computationally demanding algorithms and require that a precise analytical model...

    Provided By Yale University

  • White Papers // Jun 2011

    Endowments And Investments Within The Household: Evidence From Iodine Supplementation On Tanzania

    Standard theories of resource allocation within the household posit that parents' investments in their children reflect a combination of children's endowments and parents' preferences for child quality. The authors study how changes in children's cognitive endowments affect the distribution of parental investments amongst siblings, using data from a large-scale iodine...

    Provided By Yale University

  • White Papers // Apr 2010

    Aggregate Implications Of Lumpy Investment: New Evidence And A DSGE Model

    The sensitivity of U.S. aggregate investment to shocks is procyclical: the response upon impact increases by approximately 50% from the trough to the peak of the business cycle. This feature of the data follows naturally from a DSGE model with lumpy microeconomic capital adjustment. Beyond explaining this specific time variation,...

    Provided By Yale University

  • White Papers // Jul 2011

    Tranching, CDs And Asset Prices: How Financial Innovation Can Cause Bubbles And Crashes

    The authors show how the timing of financial innovation might have contributed to the mortgage boom and then to the bust of 2007-2009. They study the effect of leverage, tranching, securitization and CDS on asset prices in a general equilibrium model with collateral. They show why tranching and leverage tend...

    Provided By Yale University

  • White Papers // Jul 2011

    Pricing And Investments In Matching Markets

    Different markets are cleared by different types of prices - seller-specific prices that are uniform across buyers in some markets, and personalized prices tailored to the buyer in others. The authors examine a setting in which buyers and sellers make investments before matching in a competitive market. They introduce the...

    Provided By Yale University

  • White Papers // May 2011

    Social Policy & U.S. Poverty 1960-1999: An Economic History

    Interrogates poverty debate (growth versus redistribution) reignited by underperforming poverty reductions during 1980s' social spending austerity compared to 1960s' "War on Poverty." Growth and inequality explain 75% 1959-1999 poverty variation; census measurement changes 17%. Significantly, census measurement changes plus overestimated inflation biased-up 1980s measured poverty (deflated 1960s) partly explaining eighties'...

    Provided By Yale University

  • White Papers // Apr 2010

    Preventing Active Timing Attacks in Low-Latency Anonymous Communication

    Low-latency anonymous communication protocols in general and the popular onion-routing protocol in particular, are broken against simple timing attacks. While there have been few proposed solutions to this problem when the adversary is active, several padding schemes have been proposed to defend against a passive adversary that just observes timing...

    Provided By Yale University