VIENNA JOINT ECONOMICS SEMINAR	INVITATION
R E M I N D E R The University of Vienna and the Department of Economics and Finance at the Institute for Advanced Studies cordially invite you to the following Vienna Joint Economics Seminar Thursday, October 1, 2015 Attention – New Address Institute for Advanced Studies Josefstädter Strasse 39, 1080 Vienna Lecture Room E02, ground floor 4:00 pm Ulrich Berger                                 and                        Fabien Postel-Vinay WU Wien                                                                             UCL Cognitive Hierarchies in the Minimizer Game (Ulrich Berger) Abstract: Experimental tests of choice predictions in one-shot games show only little support for Nash equilibrium (NE). Poisson Cognitive Hierarchy (PCH) and level-k (LK) are behavioral models of the thinking-steps variety where subjects differ in the number of levels of iterated reasoning they perform. Camerer et al. (2004) claim that substituting the Poisson parameter  = 1:5 yields a parameter-free PCH model (pfPCH) which predicts experimental data considerably better than NE. We design a new multi-person game, the Minimizer Game, as a testbed to compare initial choice predictions of NE, pfPCH and LK. Data obtained from two large-scale online experiments strongly reject NE and LK, but are well in line with the point prediction of pfPCH. Paper jointly with Hannelore De Silva and Gerlinde Fellner-Röhling Multidimensional Skills, Sorting, and Human Capital Accumulation (Fabien Postel-Vinay) Abstract: We construct a structural model of on-the-job search in which workers differ in skills along several dimensions (cognitive, manual, interpersonal...) and sort themselves into jobs with heterogeneous skill requirements along those same dimensions. We further allow for skills to be accumulated when used, and eroded away when not used. We estimate the model using occupation-level measures of skill requirements based on O*NET data, combined with a worker-level panel from the NLSY79. We use the estimated model to shed light on the origins and costs of mismatch along the cognitive, manual, and interpersonal skill dimensions. Our results clearly suggest that those three types of skills are very different productive attributes. Paper jointly with Jeremy Lise We are looking forward to seeing you! Institute for Advanced Studies Department of Economics and Finance Josefstädter Strasse 39, 1080 Vienna, Austria Tel.: +43 1 599 91 145 e-Mail: economics@ihs.ac.at http://economics.ihs.ac.at		LINKS DIRECTIONS TO IHS on Google maps ECONOMICS SEMINARS IN VIENNA on Google calendar IHS Department of Economics and Finance Dept of Economics and Finance @IHS_Eco_Fin Institute for Advanced Studies @IHS_Vienna
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