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9073 Results

Non-Parametric Identification and Testing of Quantal Response Equilibrium

Staff Working Paper 2024-24 Johannes Hoelzemann, Ryan Webb, Erhao Xie
We show that the utility function and the error distribution are non-parametrically over-identified under Quantal Response Equilibrium (QRE). This leads to a simple test for QRE. We illustrate our method in a Monte Carlo exercise and a laboratory experiment.
June 17, 2024

Enforcement process

This supervisory policy outlines the Bank of Canada’s enforcement process and what individuals, entities and payment service providers should expect if the Bank takes enforcement action against them.
June 17, 2024

Significant adverse impact

This supervisory policy provides an overview of what the Bank of Canada will consider when determining whether a “significant adverse impact” is occurring or has occurred.
June 17, 2024

Issuing public notice of decisions

This supervisory policy provides details on the Bank of Canada’s issuing of public notice for certain retail payments supervision and Governor’s decisions.
June 17, 2024

Governor’s review

This supervisory policy describes the Bank of Canada’s Governor’s review process and outlines what individuals, entities and payment service providers should expect if they request a Governor’s review of a retail payments supervision decision.
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