Econometrica

The Founding of the Econometric Society and Econometrica

Carl F. Christ
p. 3-6

An Analysis of the Principal-Agent Problem

Oliver D. Hart, Sanford J. Grossman
p. 7-46

On the Global Uniqueness of Fix-Price Equilibria

Norbert Schulz
p. 47-68

Worker Heterogeneity, Hours Restrictions, and Temporary Layoffs

Mark A. Loewenstein
p. 69-78

Efficient Methods of Measuring Welfare Change and Compensated Income in Terms of Ordinary Demand Functions

Yrjo O. Vartia
p. 79-98

An Index of Inequality: With Applications to Horizontal Equity and Social Mobility

Mervyn A. King
p. 99-116

Gaussian Estimation of Structural Parameters in Higher Order Continuous Time Dynamic Models

A. R. Bergstrom
p. 117-152

Testing Residuals from Least Squares Regression for Being Generated by the Gaussian Random Walk

Alok Bhargava, J. D. Sargan
p. 153-174

The Identification Problem in Systems Nonlinear in the Variables

Bryan W. Brown
p. 175-196

The Structure of Qualitatively Determinate Relationships

George M. Lady
p. 197-218

Notes and Comments: Ordinal Interpersonal Comparisons in Bargaining

Lars Tyge Nielsen
p. 219-222

Notes and Comments: An Alternative Characterization of Decreasing Absolute Risk Aversion

Philip H. Dybvig, Steven A. Lippman
p. 223-224

Notes and Comments: Sufficient Conditions for the Consistency of Maximum Likelihood Estimation Despite Misspecification of Distribution in Multinomial Discrete Choice Models

Paul A. Ruud
p. 225-228

Notes and Comments: An Approximation to the Distribution of the Least Square Estimator in an Autoregressive Model with Exogenous Variables

Koichi Maekawa
p. 229-238

Latin American Meeting of the Econometric Society--Santiago, Chile, 1983: Announcement and Call for Papers

p. 239-240

European Meeting of the Econometric Society, Pisa 1983: Announcement and Call for Papers

p. 241-241

Winter 1983 Econometric Society North American Meetings: Announcement and Call for Papers

p. 241-242

Call for Papers: 1983 Summer Meeting of the Econometric Society

p. 242-242

Accepted Manuscripts

p. 243-244

Nomination of Fellows, 1983

p. 243-243

News Notes

p. 245-245

Report of the Secretary

Julie P. Gordon
p. 246-250

Report of the Treasurer

Robert J. Gordon
p. 251-255

Report of the Editors

Angus Deaton, Hugo Sonnenschein, James A. Mirrlees, Kenneth F. Wallis
p. 256-258

Program of the 1982 North American Summer Meeting of the Econometric Society

p. 259-265

Program of the Third Latin American Meeting of the Econometric Society

p. 266-275

Exogeneity

David F. Hendry, Jean-Francois Richard, Robert F. Engle
p. 277-304

Closest Empirical Distribution Estimation

Charles F. Manski
p. 305-320

Robust Sets of Regression Estimates

C. Zachary Gilstein, Edward E. Leamer
p. 321-334

Generalized Wald Methods for Testing Nonlinear Implicit and Overidentifying Restrictions

Jerzy Szroeter
p. 335-354

Testing Non-Nested Models After Estimation by Instrumental Variables or Least Squares

L. G. Godfrey
p. 355-366

Consistent Estimation of Minimal Subset Dimension

R. Kohn
p. 367-376

The Dimensionality of the Aliasing Problem in Models with Rational Spectral Densities

Lars Peter Hansen, Thomas J. Sargent
p. 377-388

Individual Monotonicity and Lexicographic Maxmin Solution

Haruo Imai
p. 389-402

Structure of Tax Equilibria

Gerard Fuchs, Roger Guesnerie
p. 403-434

Actual Labor Values in a General Model of Production

Peter Flaschel
p. 435-454

The Nonexistence of a Free Entry Cournot Equilibrium in Labor-Managed Economies

J. J. Laffont, M. Moreaux
p. 455-462

Bundling Decisions by a Multiproduct Monopolist with Incomplete Information

Thomas R. Palfrey
p. 463-484

The Price Variability-Volume Relationship on Speculative Markets

George E. Tauchen, Mark Pitts
p. 485-506

Notes and Comments: Generalized Econometric Models with Selectivity

Lung-Fei Lee
p. 507-512

Corrigendum: Maximum Likelihood Estimation of Misspecified Models

Halbert White
p. 513-514

Latin American Meeting of the Econometric Society--Santiago, Chile, 1983: Announcement and Call for Papers

p. 515-516

European Meeting of the Econometric Society, Pisa 1983: Announcement and Call for Papers

p. 517-517

Winter 1983 Econometric Society North American Meetings: Announcement and Call for Papers

p. 517-518

Australasian Meeting of the Econometric Society, Canberra 1983: Announcement and Call for Papers

p. 518-518

Accepted Manuscripts

p. 519-519

Nomination of Fellows, 1983

p. 519-519

News Notes

p. 520-521

Program of the 1982 European Meeting of the Society

p. 522-532

Program of the Meeting of Australasian Econometricians

p. 533-534

Submission of Manuscripts to Econometrica

Back Matter

Front Matter

A Model of Stochastic Process Switching

Peter M. Garber, Robert P. Flood
p. 537-552

Testing Rational Expectations and Efficiency in the Foreign Exchange Market

Patrick C. McMahon, Richard T. Baillie, Robert E. Lippens
p. 553-564

Expectations, Demand, and Observability

H. M. Polemarchakis
p. 565-574

Efficient Exchange with a Variable Number of Consumers

Urs Schweizer
p. 575-584

Input-Output Analysis and Technical Change

John Craven
p. 585-598

Inventories and Price Inflexibility

John McMillan, Klaus F. Zimmermann, Seiichi Kawasaki
p. 599-610

Capital Market Equilibrium with Personal Tax

George M. Constantinides
p. 611-636

A Financial Theory of Investment Behavior

Erling Steigum, Jr.
p. 637-646

The Multivariate Flexible Accelerator Model: Its Empirical Restrictions and an Application to U.S. Manufacturing

Larry G. Epstein, Michael G. S. Denny
p. 647-674

An Intertemporal Model of Saving and Investment

Andrew B. Abel, Olivier J. Blanchard
p. 675-692

Equilibrium Trajectories of Economic Growth

V. M. Polterovich
p. 693-730

The Impact of Exogenous Child Mortality on Fertility: A Waiting Time Regression with Dynamic Regressors

Kenneth I. Wolpin, Randall J. Olsen
p. 731-750

More Efficient Estimation in the Presence of Heteroscedasticity of Unknown Form

J. G. Cragg
p. 751-764

Distribution-Free Maximum Likelihood Estimator of the Binary Choice Model

Stephen R. Cosslett
p. 765-782

Nearly Efficient Estimation of Time Series Models with Predetermined, but not Exogenous, Instruments

Christopher Sims, Fumio Hayashi
p. 783-798

Maximum Likelihood Estimation of Regression Models with First Order Moving Average Errors when the Root Lies on the Unit Circle

Alok Bhargava, J. D. Sargan
p. 799-820

Approximate Distributions of k-Class Estimators when the Degree of Overidentifiability is Large Compared with the Sample Size

Kimio Morimune
p. 821-842

Notes and Comments: The Recovery of Risk Preferences from Actual Choices

Charles Wolf, Larry Pohlman
p. 843-850

Notes and Comments: Necessary and Sufficient Conditions for Conditional Cost Functions

M. J. Browning
p. 851-856

Accepted Manuscripts

p. 857-858

News Notes

p. 859-862

1982 Election of Fellows of the Econometric Society

p. 863-865

Fellows of the Econometric Society as of January, 1983

p. 866-877

Program of the 1982 North American Winter Meeting of the Econometric Society

p. 878-893

Submission of Manuscripts of Econometrica

[Photograph]: James A. Mirrlees, President of the Econometric Society, 1982; First Vice-President of the Econometric Society, 1981; Second Vice-President of the Econometric Society, 1980

Back Matter

Front Matter

Regularity and Index Theory for Economies with Smooth Production Technologies

Timothy J. Kehoe
p. 895-918

On the Informational Size of Message Spaces for Efficient Resource Allocation Processes

Parkash Chander
p. 919-938

Large Indivisibles: An Analysis with Respect to Price Equilibrium and Fairness

Lars-Gunnar Svensson
p. 939-954

Equilibrium Price Dispersion

Kenneth Burdett, Kenneth L. Judd
p. 955-970

Price Responsiveness and Market Conditions

Michael Braulke
p. 971-980

Equilibrium Limit Pricing: The Effects of Private Information and Stochastic Demand

Leonard J. Mirman, Steven A. Matthews
p. 981-996

On the "Law of Demand"

Werner Hildenbrand
p. 997-1020

On State Dependent Preferences and Subjective Probabilities

David Schmeidler, Edi Karni, Karl Vind
p. 1021-1032

Collective Probabilistic Judgements

Federico Valenciano, Salvador Barbera
p. 1033-1046

Endogenous Formation of Coalitions

Mordecai Kurz, Sergiu Hart
p. 1047-1064

A Generalization of the Quasilinear Mean with Applications to the Measurement of Income Inequality and Decision Theory Resolving the Allais Paradox

Chew Soo Hong
p. 1065-1092

The Influence of Classification and Observation Errors on the Measurement of Income Inequality

Aldi Hagenaars, Bernard van Praag, Wim van Eck
p. 1093-1108

Agglomeration as Local Instability of Spatially Uniform Steady-States

T. R. Smith, Y. Y. Papageorgiou
p. 1109-1120

Investment Selection with Imperfect Capital Markets

David G. Cantor, Steven A. Lippman
p. 1121-1144

Computable Qualitative Comparative Static Techniques

Gilbert Ritschard
p. 1145-1168

Solution and Maximum Likelihood Estimation of Dynamic Nonlinear Rational Expectations Models

John B. Taylor, Ray C. Fair
p. 1169-1186

The Properties of the Parameterization of Armax Systems and Their Relevance for Structural Estimation and Dynamic Specification

M. Deistler
p. 1187-1208

Specification Error Analysis with Stochastic Regressors

Kajal Lahiri, Terrence Kinal
p. 1209-1220

Notes and Comments: Asymptotic Expansions Associated with the AR(1) Model with Unknown Mean

Katsuto Tanaka
p. 1221-1232

Notes and Comments: Heteroscedasticity in Models with Lagged Dependent Variables

A. R. Pagan, D. F. Nicholls
p. 1233-1242

Call for Papers: 1984 Summer Meeting of the Econometric Society

p. 1243-1244

Winter 1983 Econometric Society North American Meetings

p. 1243-1243

Accepted Manuscripts

p. 1245-1246

News Notes

p. 1247-1248

Submission of Manuscripts of Econometricia

Back Matter

Front Matter

Expectations, Plans, and Realizations in Theory and Practice

Marc Nerlove
p. 1251-1280

Arbitrage, Factor Structure, and Mean-Variance Analysis on Large Asset Markets

Gary Chamberlain, Michael Rothschild
p. 1281-1304

Funds, Factors, and Diversification in Arbitrage Pricing Models

Gary Chamberlain
p. 1305-1324

On the Efficient Markets Hypothesis

J. S. Jordan
p. 1325-1344

Portfolio Turnpike Theorems, Risk Aversion, and Regularly Varying Utility Functions

Gur Huberman, Stephen Ross
p. 1345-1362

The Determination of Spot and Futures Prices with Storable Commodities

Stephen J. Turnovsky
p. 1363-1388

Efficient, Anonymous, and Neutral Group Decision Procedures

Walter Armbruster, Werner Boge
p. 1389-1406

The Theory of Syndicates and Linear Sharing Rules

Amin H. Amershi, Jan H. W. Stoeckenius
p. 1407-1416

The Determination of the Union Status of Workers

Henry S. Farber
p. 1417-1438

Strategic Considerations in Invention and Innovation: The Case of Natural Resources

Joseph Stiglitz, Partha Dasgupta, Richard Gilbert
p. 1439-1448

Technical Progress and Structural Change in the Swedish Cement Industry 1955-1979

Finn R. Forsund, Lennart Hjalmarsson
p. 1449-1468

Natural Oligopolies

Avner Shaked, John Sutton
p. 1469-1484

A Difficulty with the Optimum Quantity of Money

Truman Bewley
p. 1485-1504

ERA's: A New Approach to Small Sample Theory

P. C. B. Phillips
p. 1505-1526

Identification in Linear Simultaneous Equations Models with Covariance Restrictions: An Instrumental Variables Interpretation

Jerry A. Hausman, William E. Taylor
p. 1527-1550

A Generalization of the Durbin Significance Test and Its Application to Dynamic Specification

F. Mehta, J. D. Sargan
p. 1551-1568

Notes and Comments: The Asymptotic Normality of Two-Stage Least Absolute Deviations Estimators

James L. Powell
p. 1569-1576

Notes and Comments: Non-Normality of the Lagrange Multiplier Statistic for Testing the Constancy of Regression Coefficients

Katsuto Tanaka
p. 1577-1582

Notes and Comments: Dynamic Effects of a Shift in Savings; The Role of Firms

Olivier J. Blanchard
p. 1583-1592

Notes and Comments: The Utility Function and the Superneutrality of Money on the Transition Path

Kazumi Asako
p. 1593-1596

Call for Papers: 1984 Summer Meeting of the Econometric Society

p. 1597-1598

Accepted Manuscripts

p. 1598-1598

News Notes

p. 1599-1602

Erratum: Individual Monotonicity and Lexigraphic Maxmin Solution

Haruo Imai
p. 1603-1603

Submission of Manuscripts to Econometrica

Back Matter

Front Matter

Identification and Lack of Identification

J. D. Sargan
p. 1605-1634

Estimating Dynamic Random Effects Models from Panel Data Covering Short Time Periods

Alok Bhargava, J. D. Sargan
p. 1635-1660

An Econometric Analysis of Reservation Wages

Andrew Chesher, Tony Lancaster
p. 1661-1676

Discontinuous Distributions and Missing Persons: The Minimum Wage and Unemployed Youth

David A. Wise, Robert H. Meyer
p. 1677-1698

Price Elasticities for Local Telephone Calls

Bridger M. Mitchell, Bruce M. Wetzel, Rolla Edward Park
p. 1699-1730

An Elasticity can be Estimated Consistently without a Priori Knowledge of Functional Form

A. Ronald Gallant, Geraldo Souza, Ibrahim Elbadawi
p. 1731-1752

Independence of Allocative Efficiency from Distribution in the Theory of Public Goods

Richard C. Cornes, Theodore C. Bergstrom
p. 1753-1766

Mechanism Design by an Informed Principal

Roger B. Myerson
p. 1767-1798

Efficient and Durable Decision Rules with Incomplete Information

Bengt Holmstrom, Roger B. Myerson
p. 1799-1820

Stationary Optimal Policies with Discounting in a Stochastic Activity Analysis Model

Mukul Majumdar, Roy Radner
p. 1821-1838

Notes and Comments: Energy Price Uncertainty and Optimal Factor Intensity: A Mean-Variance Analysis

Andrew B. Abel
p. 1839-1846

Notes and Comments: Identification in the Linear Errors in Variables Model

Arie Kapteyn, Tom Wansbeek
p. 1847-1849

Call for Papers: 1984 Summer Meeting of the Econometric Society

p. 1850-1851

European Meeting of the Econometric Society, Madrid 1984: Announcement and Call for Papers

p. 1851-1851

Announcement and Call for Papers: North American Winter Meeting of the Econometric Society

p. 1852-1852

Accepted Manuscripts

p. 1852-1853

Leif Johansen 1930-1982

p. 1854-1856

Program of the 1983 North American Summer Meeting of the Econometric Society

p. 1857-1863

Volume Information

Submission of Manuscripts to Econometrica

Back Matter