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 59

Issue 1

Front Matter

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Aggregation and Social Choice: A Mean Voter Theorem

Andrew Caplin, Barry Nalebuff
p. 1-23

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Aggregation and Imperfect Competition: On the Existence of Equilibrium

Andrew Caplin, Barry Nalebuff
p. 25-59

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Lexicographic Probabilities and Choice Under Uncertainty

Adam Brandenburger, Eddie Dekel, Lawrence Blume
p. 61-79

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Lexicographic Probabilities and Equilibrium Refinements

Adam Brandenburger, Eddie Dekel, Lawrence Blume
p. 81-98

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The Optimality of Boiteux-Ramsey Pricing

Egbert Dierker
p. 99-121

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Monotonic Preferences and Core Equivalence

Alejandro M. Manelli
p. 123-138

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Mixture Symmetry and Quadratic Utility

L. G. Epstein, S. H. Chew, U. Segal
p. 139-163

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Segmented or Competitive Labor Markets

Th. Magnac
p. 165-187

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Job Exit Behavior of Older Men

James Berkovec, Steven Stern
p. 189-210

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A Continuous Time Approximation to the Unstable First-Order Autoregressive Process: The Case Without an Intercept

Pierre Perron
p. 211-236

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Notes and Comments: Solution to a Problem of Stochastic Process Switching

Gregor W. Smith
p. 237-239

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Notes and Comments: Stochastic Process Switching: Some Simple Solutions

Kenneth A. Froot, Maurice Obstfeld
p. 241-250

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Announcements

p. 251-257

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News Notes

p. 259-260

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The Econometric Society Annual Reports, 1990: Report of the Secretary

Julie P. Gordon
p. 261-267

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The Econometric Society Annual Reports, 1990: Report of the Treasurer

Robert J. Gordon
p. 269-276

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The Econometric Society Annual Reports, 1990: Annual Report of the Editors

Andreu Mas-Colell, Lars Hansen, Martin Hellwig, Robert Porter
p. 277-278

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The Econometric Society Annual Reports, 1990: The Econometric Society Research Monograph Series Report of the Editors

Alain Monfort, Avinash Dixit
p. 279-280

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Back Matter

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Issue 2

Front Matter

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Optimal Inference in Cointegrated Systems

P. C. B. Phillips
p. 283-306

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Asymptotic Normality of Series Estimators for Nonparametric and Semiparametric Regression Models

Donald W. K. Andrews
p. 307-345

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Conditional Heteroskedasticity in Asset Returns: A New Approach

Daniel B. Nelson
p. 347-370

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Quadrature-Based Methods for Obtaining Approximate Solutions to Nonlinear Asset Pricing Models

George Tauchen, Robert Hussey
p. 371-396

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The Permanent Income Hypothesis Revisited

David Marshall, Lawrence J. Christiano, Martin Eichenbaum
p. 397-423

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Observing Violations of Transitivity by Experimental Methods

Chris Starmer, Graham Loomes, Robert Sugden
p. 425-439

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The Existence of Ramsey Equilibrium

Ciprian Foias, John H. Boyd III, Robert A. Becker
p. 441-460

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Bayesian Implementation

Mathew O. Jackson
p. 461-477

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Nash Implementation Using Undominated Strategies

Sanjay Srivastava, Thomas R. Palfrey
p. 479-501

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Notes and Comments: Comments on Brown and Rosenthal's Reexamination

Barry O’Neill
p. 503-507

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Notes and Comments: The Division Problem with Single-Peaked Preferences: A Characterization of the Uniform Allocation Rule

Yves Sprumont
p. 509-519

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Notes and Comments: A More Powerful Method for Triangularizing Input-Output Matrices: A Comment

Eric C. Howe
p. 521-523

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Announcements

p. 525-527

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News Notes

p. 528-528

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The Econometric Society Annual Reports, 1990: Report of the President

J.-M. Grandmont
p. 529-531

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Program of the Sixth World Congress of the Econometric Society

p. 532-593

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Back Matter

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Issue 3

Front Matter

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Voting by Committees

Hugo Sonnenschein, Lin Zhou, Salvador Barbera
p. 595-609

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Incentives to Help in Multi-Agent Situations

Hideshi Itoh
p. 611-636

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Evolutionary Games in Economics

Daniel Friedman
p. 637-666

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A Theory of Disappointment Aversion

Faruk Gul
p. 667-686

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Subgroup Consistent Poverty Indices

Anthony F. Shorrocks, James E. Foster
p. 687-709

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The Rank of Demand Systems: Theory and Nonparametric Estimation

Arthur Lewbel
p. 711-730

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The Relation Between Firm Growth and $Q$ with Multiple Capital Goods: Theory and Evidence from Panel Data on Japanese Firms

Fumio Hayashi, Tohru Inoue
p. 731-753

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Best Nonlinear Three-Stage Least Squares Estimation of Certain Econometric Models

P. M. Robinson
p. 755-786

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Asymptotic Expansions of the Information Matrix Test Statistic

Andrew Chesher, Richard Spady
p. 787-815

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Heteroskedasticity and Autocorrelation Consistent Covariance Matrix Estimation

Donald W. K. Andrews
p. 817-858

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Notes and Comments: Social Stability and Equilibrium

Akihiko Matsui, Itzhak Gilboa
p. 859-867

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Notes and Comments: Nash Implementation of Competitive Equilibria in a Model with Indivisible Goods

Lars-Gunnar Svensson
p. 869-877

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Announcements

p. 879-879

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News Notes

p. 881-881

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1990 Election of Fellows to the Econometric Society

p. 883-889

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Fellows of the Econometric Society as of December, 1990

p. 891-907

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Back Matter

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Issue 4

Front Matter

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Comments on the Interpretation of Game Theory

Ariel Rubinstein
p. 909-924

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The Effects of Male and Female Labor Supply on Commodity Demands

Costas Meghir, Martin Browning
p. 925-951

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Spatial Patterns in Household Demand

Anne C. Case
p. 953-965

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Error Correction and Long-Run Equilibrium in Continuous Time

P. C. B. Phillips
p. 967-980

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The Local Nature of Hypothesis Tests Involving Inequality Constraints in Nonlinear Models

Frank A. Wolak
p. 981-995

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Virtual Implementation in Nash Equilibrium

Arunava Sen, Dilip Abreu
p. 997-1021

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Fair Allocation of Indivisible Goods and Criteria of Justice

Ahmet Alkan, David Gale, Gabrielle Demange
p. 1023-1039

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Arbitrage, Short Sales, and Financial Innovation

Douglas Gale, Franklin Allen
p. 1041-1068

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International Lending with Moral Hazard and Risk of Repudiation

Andrew Atkeson
p. 1069-1089

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Equilibrium in a Production Economy with an Income Tax

Wilbur John Coleman II
p. 1091-1104

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How to Decide How to Decide How to ...: Modeling Limited Rationality

Barton L. Lipman
p. 1105-1125

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Strict Pareto-Improving Multilateral Reforms of Tariffs

Alan D. Woodland, Arja H. Turunen-Red
p. 1127-1152

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Notes and Comments: Testing for Autocorrelated Disturbances in Nonlinear Regression Analysis

Masahito Kobayashi
p. 1153-1159

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Notes and Comments: Uniform Convergence in Probability and Stochastic Equicontinuity

Whitney K. Newey
p. 1161-1167

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Notes and Comments: Existence Theorems in the Capital Asset Pricing Model

Michael Allingham
p. 1169-1174

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Notes and Comments: Implementation of Reduced Form Auctions: A Geometric Approach

Kim C. Border
p. 1175-1187

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Announcements

p. 1189-1190

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News Notes

p. 1191-1192

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A Report on Econometric Society Fellows' Election Procedures

Daniel McFadden, Jean-Michel Grandmont, Kenneth Arrow
p. 1193-1196

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Guidelines for Submission of Manuscripts on Experimental Economics

Robert Porter, Thomas Palfrey
p. 1197-1198

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Program of the 1990 North American Winter Meeting of the Econometric Society

p. 1201-1219

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Back Matter

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Issue 5

Front Matter

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Saving and Liquidity Constraints

Angus Deaton
p. 1221-1248

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Monte Carlo Methodology and the Finite Sample Properties of Instrumental Variables Statistics for Testing Nested and Non-Nested Hypotheses

Neil R. Ericsson
p. 1249-1277

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Long-Term Memory in Stock Market Prices

ndrew W. Lo
p. 1279-1313

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Semiparametric Estimation of Monotone and Concave Utility Functions for Polychotomous Choice Models

Rosa L. Matzkin
p. 1315-1327

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Automatic Frequency Domain Inference on Semiparametric and Nonparametric Models

P. M. Robinson
p. 1329-1363

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Smoothness of the Policy Function in Discrete Time Economic Models

Manuel S. Santos
p. 1365-1382

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The Once But Not Twice Differentiability of the Policy Function

A. Araujo
p. 1383-1393

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Sequential Bargaining as a Noncooperative Foundation for Walrasian Equilibrium

Andrew McLennan, Hugo Sonnenschein
p. 1395-1424

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Ex Ante Price Offers in Matching Games Non-Steady States

Michael Peters
p. 1425-1454

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Durable Goods Monopoly with Entry of New Consumers

Joel Sobel
p. 1455-1485

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Notes and Comments: A Bargaining Model Where Parties Make Errors

Hans Carlsson
p. 1487-1496

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Notes and Comments: A Generalization of Hicksian $q$ Substitutes and Complements with Application to Demand Rationing

Paul Madden
p. 1497-1508

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Announcements

p. 1509-1512

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News Notes

p. 1513-1514

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Program of the 1991 North American Summer Meeting of the Econometric Society

p. 1515-1524

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Back Matter

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Issue 6

Front Matter

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Empirical Evidence on the Law of Demand

Michael Jerison, Werner Hildenbrand, Wolfgang Hardle
p. 1525-1549

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Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models

Soren Johansen
p. 1551-1580

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Robust HPD Regions in Bayesian Regression Models

Klaus Potzelberger, Wolfgang Polasek
p. 1581-1589

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Understanding Unit Rooters: A Helicopter Tour

Christopher A. Sims, Harald Uhlig
p. 1591-1599

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Invariance, Nonlinear Models, and Asymptotic Tests

Jean-Marie Dufour, Marcel G. Dagenais
p. 1601-1615

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Endogenous Price Fluctuations in an Optimizing Model of a Monetary Economy

Kiminori Matsuyama
p. 1617-1631

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Asset Prices in an Exchange Economy with Habit Formation

Fernando Zapatero, Jerome B. Detemple
p. 1633-1657

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Dynamic $(S, s)$ Economies

Eduardo M. R. A. Engel, Ricardo J. Caballero
p. 1659-1686

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Fiscal Policy with Impure Integenerational Altruism

Andrew B. Abel, B. Douglas Bernheim
p. 1687-1711

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Information and Timing in Repeated Partnerships

David Pearce, Dilip Abreu, Paul Milgrom
p. 1713-1733

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Moral Hazard and Verifiability: The Effects of Renegotiation in Agency

Benjamin E. Hermalin, Michael L. Katz
p. 1735-1753

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No-Envy and Consistency in Economies with Indivisible Goods

Koichi Tadenuma, William Thomson
p. 1755-1767

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Notes and Comments: Decentralizing Public Good Supply

Ian Jewitt, Timothy Besley
p. 1769-1778

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Notes and Comments: Axioms of Revealed Preference for Nonlinear Choice Sets

Rosa L. Matzkin
p. 1779-1786

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Notes and Comments: Independence of Irrelevant Alternatives and Revealed Group Preferences

Hans Peters, Peter Wakker
p. 1787-1801

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Announcements

p. 1803-1806

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News Notes

p. 1807-1810

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Program of the 1991 Far Eastern Meeting of the Econometric Society

p. 1811-1826

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Program of the 1991 Australasian Meetings of the Econometric Society

p. 1827-1833

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Volume Information

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Back Matter

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