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Spencer's Tragedy, Arthur M. Diamond Jr.

Economics Faculty Publications

At Dinner with Huxley, Spencer mentioned that he had once written a tragedy. Huxley immediately replied that he knew what the plot must be: a beautiful theory gets murdered by a nasty fact. Spencer himself delighted in retelling Huxley’s barb, displaying thereby both his good humor and self-awareness. What he was probably not aware of was that he actually did write a tragedy with Huxley’s plot. In The Principles of Ethics the beautiful theory is that an individual’s conduct is to be judged by how well it furthers the individual’s survival. The nasty fact is that much conduct that furthers …

F. A. Hayek On Constructivism And Ethics, Arthur M. Diamond Jr.

Economics Faculty Publications

Long before receiving his Nobel Prize, Friedrich von Hayek was well respected in the academic community. John Maynard Keynes had glowing praise for Hayek's 1944 The Road to Serfdom. Milton Friedman and Paul Samuelson, antagonists on many issues, agree that Hayek's 1945 "The Use of Knowledge in Society" was a major contribution to political-economic thought. These early works by Hayek led a writer for the Nation to express what must have been the view of a great many, that "because [Hayek] is among the most thoughtful and consistent supporters of a market economy. . . those who disagree with him …

The Central Assignment Game And The Assignment Markets, Mamoru Kaneko

Cowles Foundation Discussion Papers

Initially we prove the nonemptiness of the core of an n-person game without side payments called a central assignment game. Next, we provide a market model with indivisible goods but without the transferable utility assumption. Applying the first result to the market model, we prove the nonemptiness of the core and the existence of a competitive equilibrium. Finally, we provide a generalization of the market model and also show the nonemptiness of the core and the existence of a competitive equilibrium using the results in the previous model.

Solution And Maximum Likelihood Estimation Of Dynamic Nonlinear Rational Expectations Models, Ray C. Fair, John B. Taylor

Cowles Foundation Discussion Papers

No abstract provided.

Thinking About Carbon Dioxide: Theoretical And Empirical Aspects Of Optimal Control Strategies, William D. Nordhaus

Cowles Foundation Discussion Papers

The scientific and policy discussion about the CO2 problem can be divided into three different parts: (a) understanding the carbon cycle and climatic effects of CO2 elevation; (b) understanding the economic and social impacts of CO2 and estimating abatement strategies; and (c) weighing the costs and benefits in (a) and (b) to set appropriate policies. Up to now, almost all scientific work has gone into (a); a handful of papers discusses (b); but there have been no attempts to pursue (c), that is to weigh scientific and economic evidence so as to give guidance on national or global policies. The …

Report On Proposed Changes In The New_10-01-1980 (2), Lynn Wombold

BBER Publications

The report evaluates the economic impact of proposed amendments to the New Mexico Water Supply Regulations requiring monitoring and control of total trihalomethanes (TTHMs) in public drinking water systems. Prepared by Lynn Wombold of the University of New Mexico Bureau of Business and Economic Research for the New Mexico Environmental Improvement Division, the study examines the costs associated with sampling, laboratory analysis, reporting, and potential corrective actions for community water systems serving 10,000 or more persons. Using survey responses from major municipal water systems and federal data on trihalomethane concentrations, the report estimates compliance costs under alternative monitoring schedules based …

Report On Proposed Changes In The New_10-01-1980, Lynn Wombold

BBER Publications

The report evaluates the economic impact of proposed amendments to the New Mexico Water Supply Regulations requiring monitoring and control of total trihalomethanes (TTHMs) in public drinking water systems. Prepared by Lynn Wombold of the University of New Mexico Bureau of Business and Economic Research for the New Mexico Environmental Improvement Division, the study examines the costs associated with sampling, laboratory analysis, reporting, and potential corrective actions for community water systems serving 10,000 or more persons. Using survey responses from major municipal water systems and federal data on trihalomethane concentrations, the report estimates compliance costs under alternative monitoring schedules based …

Public Policy: No Longer A Spectator Sport For Business, Murray L. Weidenbaum

Murray Weidenbaum Publications

This piece shows the huge growth of federal regulation in the 1970s. In turn, business needs to become more involved in the public arena to improve business-government relations.

New Mexico Labor Market Review 09-30-1980, New Mexico Employment Security Department

Historic Publications

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The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers August 1980.

Economic Considerations For Potential Fuel Alcohol Producers Or Investors, Thomas L. Dobbs

Economics Commentator (1972- 2016)

No abstract provided.

Major Tax Reductions And Public Education, Philip Favero

Economics Staff Paper Series (1969 - 2017)

The following discussion of tax reductions uses as an example South Dakota’s own version of Proposition 13, the Dakota Proposition. In the discussion which follows, four major themes are developed. First, Dakota Proposition would have a very major consequence for public finance in South Dakota-beginning in 1982 and extending indefinitely thereafter. Second, Dakota Proposition and other major tax reduction proposals have a variety of origins---some particular to the relevant state, and some more general origins as well. Third, common misunderstanding and, indeed, ignorance exists about the benefits provided by public education and about taxation to support education. And finally, Dakota …

The Melanesian Labor Reserve: Some Reflections On Pacific Labor Markets In The Nineteenth Century, Colin Newbury

Pacific Studies

No abstract provided.

Distribution, Peter C.B. Phillips

Cowles Foundation Discussion Papers

Formulae that are given in the literature for the characteristic function of the F distribution are incorrect and imply that the distribution has finite moments of all orders. Correct formulae are derived and the asymptotic behavior of the characteristic function in the neighborhood of the origin is characterized.

Best Uniform Approximation To Probability Densities In Econometrics, Peter C.B. Phillips

Cowles Foundation Discussion Papers

A new method of approximating the probability density function (pdf’s) of econometric estimators and test statistics is developed. It is shown that best uniform approximants to a general class of pdf’s exist in the form of rational functions. A procedure for extracting approximants is devised and is based on modifying multiple-point Pade approximants to the distribution. The new approximation technique is very general and should be widely applicable in mathematical statistics and econometrics. It has the advantage, unlike the Edgeworth and saddlepoint approximations, of readily incorporating extraneous information on the distribution, even qualitative information. The new procedure is applied to …

Factors Affecting Student Performance In Law School Economics Courses, John J. Siegfried

Journal of Legal Education

No abstract provided.

On A Lemma Of Amemiya, Peter C.B. Phillips

Cowles Foundation Discussion Papers

No abstract provided.

New Mexico Labor Market Review 08-29-1980, New Mexico Employment Security Department

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers July 1980.

Producer Strategies When Transportation Distorts Pricing Of Grain, Arthur Sogn

Economics Staff Paper Series (1969 - 2017)

No abstract provided.

Chapter Xv: An Agenda For Reform, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.

Perfect Or Robust Noncooperative Equilibrium: A Search For The Philosophers Stone?, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.

Heterogeneous Information And The Theory Of The Business Cycle, Sanford Grossman, Laurence Weiss

Cowles Foundation Discussion Papers

No abstract provided.

New Mexico Labor Market Review 07-31-1980, New Mexico Employment Security Department

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers June 1980.

Friedman's Television Series: Free To Choose, Felix Hsia

Economics Staff Paper Series (1969 - 2017)

No abstract provided.

The Failure Of Official Economics, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.

Intergenerational Political Economy (A Game Theoretic Model Of How To Glue The Generations Together), Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.

Extension Of A Dynamical Model Of Political Equilibrium, Gerald H. Kramer

Cowles Foundation Discussion Papers

No abstract provided.

Diverse Treatment Of Claimants By States, Saul J. Blaustein

Book Chapters

No abstract provided.

A Proposal For A New Job Security System With Three Tiers Of Unemployment Insurance, Saul J. Blaustein

Book Chapters

No abstract provided.

New Mexico Labor Market Review 06-30-1980, New Mexico Employment Security Department

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers May 1980.

Estimating Impacts Of Industrial Development In Killingly, Connecticut, Daniel A. Lass, Joseph Diamond

Storrs Agricultural Experiment Station

No abstract provided.