Econometrica

Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica - Volume 49

Issue 1

Front Matter

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Production Sets with Indivisibilities, Part I: Generalities

Herbert E. Scarf
p. 1-32

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Resource Allocation Under Asymmetric Information

Milton Harris, Robert M. Townsend
p. 33-64

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A Simple Incentive Compatible Scheme for Attaining Lindahl Allocations

Mark Walker
p. 65-71

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What is the Normal Rate of Convergence of the Core? (Part I)

Hsueh-Cheng Cheng
p. 73-83

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Resource Depletion Under Technological Uncertainty

Joseph Stiglitz, Partha Dasgupta
p. 85-104

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Applied Welfare Economics with Discrete Choice Models

Harvey S. Rosen, Kenneth A. Small
p. 105-130

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Efficiency and Speculation in a Model with Price-Contingent Contracts

Lars E. O. Svensson
p. 131-151

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Criteres Simples pour la Prise en Compte du Risque

Claude Henry
p. 153-170

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Rational Expectations in Stationary Linear Models

Carl A. Futia
p. 171-192

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Sets of Estimates of Location

Edward E. Leamer
p. 193-204

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Notes and Comments: OLS Estimation in a Model Where a Microvariable is Explained by Aggregates and Contemporaneous Disturbances are Equicorrelated

T. Kloek
p. 205-207

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Notes and Comments: The Determinateness Test and Economic Price Indices

Rolf Fare, Vern Lyon
p. 209-213

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Notes and Comments: The Existence of Expected Utility Maximizing Decisions when Utility is Unbounded

John Kennan
p. 215-218

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Notes and Comments: An Axiomatic Characterization of Common Knowledge

Paul Milgrom
p. 219-222

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1981 Summer Meeting of the Econometric Society

p. 223-223

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European Meeting of the Econometric Society, Amsterdam, 1981: Announcement and Call for Papers

p. 223-223

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Winter 1981 Econometric Society North American Meetings

p. 223-224

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Accepted Manuscripts

p. 224-225

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News Note

p. 225-225

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Award of Frisch Medal for 1980

p. 227-227

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Report of the Secretary

Julie P. Gordon
p. 229-233

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Report of the Treasurer

Robert J. Gordon
p. 235-240

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Report of the Editor

Hugo Sonnenschein
p. 241-243

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Report of the Program Chairman, Fourth World Congress of the Econometric Society

Werner Hildenbrand
p. 245-246

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Program of the Econometric Society World Congress

p. 247-276

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Errata: The Durbin-Watson Test for Serial Correlation when there is No Intercept in the Regression

R. W. Farebrother
p. 277-277

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Errata: The Fine Structure of Earnings and the On-the-Job Training Hypothesis

John C. Hause
p. 277-277

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Submission of Manuscripts to Econometrica

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Back Matter

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Issue 2

Front Matter

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Stability, Disequilibrium Awareness, and the Perception of New Opportunities

Franklin M. Fisher
p. 279-317

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The Stability of Steady States in Perfect Foresight Models

John P. Laitner
p. 319-333

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Value of Information with Sequential Futures Markets

Jerry Green
p. 335-358

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Myopic Economic Agents

Donald J. Brown, Lucinda M. Lewis
p. 359-368

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A Social Coalitional Equilibrium Existence Lemma

Tatsuro Ichiishi
p. 369-377

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Consumer Surplus when Preferences are Intransitive: Analysis and Interpretation

John Fountain
p. 379-394

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Production Sets with Indivisibilities, Part II: The Case of Two Activities

Herbert E. Scarf
p. 395-423

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Durability and Taxes: Market Structure and Quasi-Capital Market Distortion

Peter L. Swan
p. 425-435

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Job Matching with Heterogeneous Firms and Workers

Elsie Marie Knoer, Vincent P. Crawford
p. 437-450

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A Comparison of the Labor Force Behavior of Married Women in the United States and Canada, with Special Attention to the Impact of Income Taxes

Alice Nakamura, Masao Nakamura
p. 451-489

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What do Economists Know? An Empirical Study of Experts' Expectations

Bryan W. Brown, Shlomo Maital
p. 491-504

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On the Asymptotic Bias of the Ordinary Least Squares Estimator of the Tobit Model

William H. Greene
p. 505-513

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Notes and Comments: Contemporaneous Correlation in Wage Contract Studies

W. Craig Riddell
p. 515-516

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Notes and Comments: Estimation of Time-Independent Markov Processes with Aggregate Data: A Comparison of Techniques

Christina M. L. Kelton
p. 517-518

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Notes and Comments: Une Solution Pour R.A.S.

C. Bidard
p. 519-523

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Notes and Comments: Note on a New Measure of Poverty

Nanak Kakwani
p. 525-526

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Notes and Comments: Stability of Aggregation Procedures, Ultrafilters, and Simple Games

Bernard Monjardet, Jean-Marie Blin, Pierre Batteau
p. 527-534

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Notes and Comments: Nash's Bargaining Solution and Utilitarian Choice Rules

William Thomson
p. 535-538

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Accepted Manuscripts

p. 539-540

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European Meeting of the Econometric Society, Amsterdam, 1981

p. 539-539

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Winter 1981 Econometric Society North American Meetings

p. 539-539

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News Notes

p. 540-540

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Program of the 1980 North American Winter Meeting of the Econometric Society

p. 541-553

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Errata: Double k-Class Estimators of Coefficients in Linear Regression

A. Ullah, S. Ullah
p. 554-554

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Errata: Statistical Inference in an Implicit, Nonlinear, Simultaneous Equation Model in the Context of Maximum Likelihood Estimation

A. Ronald Gallant, Alberto Holly
p. 554-554

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Submission of Manuscripts to Econometrica

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Back Matter

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Issue 3

Front Matter

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The Present-Value Relation: Tests Based on Implied Variance Bounds

Richard D. Porter, Stephen F. LeRoy
p. 555-574

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Futures Trading, Rational Expectations, and the Efficient Markets Hypothesis

Margaret Bray
p. 575-596

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Distortion of Utilities and the Bargaining Problem

Joel Sobel
p. 597-619

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Some Stronger Measures of Risk Aversion in the Small and the Large with Applications

Stephen A. Ross
p. 621-638

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Diversified Consumption Characteristics and Conditionally Dispersed Endowment Distribution: Regularizing Effect and Existence of Equilibria

Akira Yamazaki
p. 639-654

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Generalized Duality and Integrability

Larry G. Epstein
p. 655-678

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Infinite Horizon Programs

Michael J. P. Magill
p. 679-711

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A Critique of Tiebout's Theory of Local Public Expenditures

Truman F. Bewley
p. 713-740

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Spurious Periodicity in Inappropriately Detrended Time Series

Charles R. Nelson, Heejoon Kang
p. 741-751

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Testing For Unit Roots: 1

G. B. A. Evans, N. E. Savin
p. 753-779

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Several Tests for Model Specification in the Presence of Alternative Hypotheses

James G. MacKinnon, Russell Davidson
p. 781-793

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Notes and Comments: Sample Selection Bias as a Specification Error: A Comment

William H. Greene
p. 795-798

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Accepted Manuscripts

p. 799-799

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European Meeting of the Econometric Society, Amsterdam, 1981: Announcement and Call for Papers

p. 799-799

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News Notes

p. 800-801

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1980 Election of Fellows of the Econometric Society

p. 802-806

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Fellows of the Econometric Society as of January, 1981

p. 807-817

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Submission of Manuscripts to Econometrica

p. 818-818

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Back Matter

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Issue 4

Front Matter

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The Classical Theorem on Existence of Competitive Equilibrium

Lionel W. McKenzie
p. 819-841

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Intergenerational Transfers and the Distribution of Earnings

Glenn C. Loury
p. 843-867

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Equity Oriented Fiscal Programs

John C. H. Fei
p. 869-881

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Utilitarianism, Egalitarianism, and the Timing Effect in Social Choice Problems

Roger B. Myerson
p. 883-897

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k-Monotone Social Decision Functions and the Veto

Rajat Deb
p. 899-909

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Risk Aversion with Random Initial Wealth

David Romer, Richard E. Kihlstrom, Steve Williams
p. 911-920

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Rational Expectations, Information Acquisition, and Competitive Bidding

Paul R. Milgrom
p. 921-943

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Fixed Costs and Labor Supply

John F. Cogan
p. 945-963

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Individual Effects in a Nonlinear Model: Explicit Treatment of Heterogeneity in the Empirical Job-Search Model

George R. Neumann, Nicholas M. Kiefer
p. 965-979

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A Disaggregate Model of the Demand for Intercity Freight Transportation

Clifford Winston
p. 981-1006

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Stochastic Properties of Fast vs. Slow Growing Economies

Jean-Pierre Danthine, John B. Donaldson
p. 1007-1033

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Exact Density Functions and Approximate Critical Regions for Likelihood Ratio Identifiability Test Statistics

George F. Rhodes, Jr.
p. 1035-1055

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Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root

David A. Dickey, Wayne A. Fuller
p. 1057-1072

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Notes and Comments: Lagged Endogenous Variables and the Cochrane-Orcutt Procedure

Harry Kelejian, Roger Betancourt
p. 1073-1078

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Notes and Comments: A Limited Information Specification Test

David E. Spencer, Kenneth N. Berk
p. 1079-1085

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Notes and Comments: A Note on the Turnpike Properties of Time Dependent Supergames

James W. Friedman
p. 1087-1088

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Accepted Manuscripts

p. 1089-1089

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News Notes

p. 1090-1091

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Submission of Manuscripts to Econometrica

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[Photograph]: John D. Sargan, President of the Econometric Society, 1980; First Vice-President of the Econometric Society, 1979; Second Vice-President of the Econometric Society, 1978

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Back Matter

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Issue 5

Front Matter

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Short-Run Production Functions Based on Microdata

Werner Hildenbrand
p. 1095-1125

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Monitoring Cooperative Agreements in a Repeated Principal-Agent Relationship

Roy Radner
p. 1127-1148

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Nash Equilibrium and the Industrial Organization of Markets with Large Fixed Costs

Sanford J. Grossman
p. 1149-1172

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Generic Existence of Completely Revealing Equilibria for Economies with Uncertainty when Prices Convey Information

Beth Allen
p. 1173-1199

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Competitive Price Adjustment without Market Clearing

Edward Zabel
p. 1201-1221

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Necessary and Sufficient Conditions for @s-Relative Majority Voting Equilibria

Peter J. Coughlin
p. 1223-1224

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The Measurement of Deadweight Loss Revisited

W. E. Diewert
p. 1225-1244

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Optimal Taxes and the Structure of Preferences

Angus Deaton
p. 1245-1260

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Funding Criteria for Research, Development, and Exploration Projects

Kevin Roberts, Martin L. Weitzman
p. 1261-1288

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Maximum Likelihood Estimator for Choice-Based Samples

Stephen R. Cosslett
p. 1289-1316

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A Test for Misspecification in the Censored Normal Model

Forrest D. Nelson
p. 1317-1329

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Prediction from the Dynamic Simultaneous Equation Model with Vector Autoregressive Errors

Richard T. Baillie
p. 1331-1337

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Notes and Comments: Further Results on the Value of Sample Separation Information

Peter Schmidt
p. 1339-1343

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Notes and Comments: On Path Independent Randomized Choice

Mark J. Machina, Robert P. Parks
p. 1345-1347

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Notes and Comments: The Impact of Schooling on Wages

Glenn M. MacDonald
p. 1349-1359

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Accepted Manscripts

p. 1360-1360

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News Notes

p. 1360-1361

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Submission of Manuscripts to Econometrica

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Back Matter

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Issue 6

Front Matter

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Econometrics Faced with the Needs of Macroeconomic Policy

E. Malinvaud
p. 1363-1375

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Panel Data and Unobservable Individual Effects

Jerry A. Hausman, William E. Taylor
p. 1377-1398

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Random Effects, Fixed Effects, Convolution, and Separation

Joseph A. Yahav, Yair Mundlak
p. 1399-1416

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Biases in Dynamic Models with Fixed Effects

Stephen Nickell
p. 1417-1426

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The Approximate Slopes of Econometric Tests

John Geweke
p. 1427-1442

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On the Invariance of the Lagrange Multiplier Test with Respect to Certain Changes in the Alternative Hypothesis

L. G. Godfrey
p. 1443-1455

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Core Theory with Strongly Convex Preferences

Robert M. Anderson
p. 1457-1468

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Pareto Superiority of Unegalitarian Equilibria in Stiglitz' Model of Wealth Distribution with Convex Saving Function

Francois Bourguignon
p. 1469-1475

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Allocation Mechanisms and the Design of Auctions

Artur Raviv, Milton Harris
p. 1477-1499

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The Comparative Statics of Hedonic Price Functions and Other Nonlinear Constraints

Lee E. Edlefsen
p. 1501-1520

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Functional Forms for Labor Supply and Commodity Demands with and without Quantity Restrictions

Angus Deaton, John Muellbauer
p. 1521-1532

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Demographic Variables in Demand Analysis

Robert A. Pollak, Terence J. Wales
p. 1533-1551

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Second Thoughts on Wald's Cost-of-Living Index and Frisch's Double Expenditure Method

Bert M. Balk
p. 1553-1558

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Optimal Spending and Money Holdings in the Presence of Liquidity Constraints

Elhanan Helpman
p. 1559-1570

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Notes and Comments: The Durbin-Watson Test for Serial Correlation: Bounds for Regressions with Trend and/or Seasonal Dummy Variables

Maxwell L. King
p. 1571-1581

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Notes and Comments: On the Relationships Among Several Specification Error Tests Presented by Durbin, Wu, and Hausman

Alice Nakamura, Masao Nakamura
p. 1583-1588

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Notes and Comments: A Note on the Consistency of the GLS Estimator in Triangular Structural Systems

Robert F. Cotterman
p. 1589-1591

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Notes and Comments: A Note on the Variance of Ex-Post Forecasts in Econometric Models

Giorgio Calzolari
p. 1593-1595

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Notes and Comments: A Random Voting Graph Almost Surely has a Hamiltonian Cycle when the Number of Alternatives is Large

Colin E. Bell
p. 1597-1603

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Notes and Comments: A Condition Guaranteeing the Optimality of Public Choice

Rafael Rob
p. 1605-1613

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1982 Summer Meeting of the Econometric Society

p. 1614-1615

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Accepted Manuscripts

p. 1615-1615

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News Notes

p. 1615-1616

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North American Summer Meeting of the Econometric Society

p. 1617-1617

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Program of the 1981 North American Summer Meeting of the Econometric Society

p. 1618-1623

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Volume Information

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Back Matter

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