Digital Commons Network^™

Multimarket Oligopoly, Jeremy I. Bulow, John Geanakoplos, Paul D. Klemperer

Cowles Foundation Discussion Papers

Actions a firm takes in one market may affect its profitability in other markets, beyond any joint economies or diseconomies in production. The reason is that an action in one market, by changing marginal costs in a second market, may change competitors’ strategies in that second market. We show how to calculate the strategic consequences in market 2, of a change in conditions in market 1 or of a firm’s action in market 1. Qualitatively, the same results hold for both simultaneous markets and sequential markets: whether a more aggressive (i.e., lower price or higher quantity) strategy in the first …

Information Patterns And Nash Equilibria In Extensive Games, Pradeep Dubey, Mamoru Kaneko

Cowles Foundation Discussion Papers

No abstract provided.

The Exact Distribution Of Zellner's Sur, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper derives the exact finite sample distribution of the two-stage GLS (generalized least squares) estimator in a multivariate linear model with general linear parameter restrictions. This includes the seemingly unrelated regression (SUR) model as a special case and generalizes presently known exact results for the latter system. The usual classical assumptions are made concerning nonrandom exogenous variables and normally distributed errors.

Osteology And Functional Morphology Of Dimorphodon Macronyx (Buckland) (Pterosauria: Rhamphorhynchoidea) Based On New Material In The Yale Peabody Museum, Kevin Padian

Postilla

Two incompfete skeletons and other isolated bones of Dimorphodon macronyx (Buckland), an early rhamphorhynchoid pterosaur from the Lower Lias (Hettangian) of England, have remained undescribed in the collections of the Peabody Museum of Natural History since their acquisition by O. C. Marsh over a century ago. Some of this material comes from Aust Cliff near Bristol, and therefore constitutes the first record of Dimorphodon outside the Lyme Regis area of Dorset. The two individuals are smaller than those in the British Museum (Natural History) described by Owen, and juvenile proportions characterize both cranial and postcranial remains. Much of the material …

Tanyops Undans Marsh, 1894: A Junior Subjective Synonym Of Protapirus Obliquidens Wortman And Earle, 1893 (Mammalia, Perissodactyla), Robert Milton Schoch

Postilla

Tanyops undans Marsh, 1894, a tapirid from upper Oligocene strata of South Dakota, has been almost totally ignored in the literature. Here the unique holotype specimen is redescribed and illustrated for the first time. Tanyops undans is virtually identical in morphology to, and thus a junior subjective synonym of, Protapirus obliquidens Wortman and Earle, 1893.

Organizing Production In A Large Economy With Costly Communication, Paul R. Milgrom, Robert J. Weber

Cowles Foundation Discussion Papers

We show that in a large production economy, the cost of collecting the information required by a planner to set nearly optimal prices is negligible relative to the total output of the economy. The cost of collecting the information required to set a nearly optimal production plan for each firm in the economy is not negligible. This conclusion stands in contrast to common opinion that determining optimal prices requires as much information as determining an optimal plan.

The Exact Distribution Of Exogenous Variable Coefficient Estimators, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper derives the exact probability density function of the instrumental variable (IV) estimator of the exogenous variable coefficient vector in a structural equation containing n + 1 endogenous variables and N degrees of overidentification. A leading case of the general distribution that is more amenable to analysis and computation is also presented. Conventional classical assumptions or normally distributed errors and nonrandom exogenous variables are employed.

Investing In Agricultural Supply, M. Ann Judd, James K. Boyce, Robert E. Evenson

Discussion Papers

No abstract provided.

Forward Rates And Future Policy: Interpreting The Term Structure Of Interest Rates, Robert J. Shiller, John Y. Campbell, Kermit L. Schoenholtz

Cowles Foundation Discussion Papers

No abstract provided.

Worker Asymmetric Information And Involuntary Unemployment, Russell Cooper

Cowles Foundation Discussion Papers

No abstract provided.

Macroeconomics Under Debate, James Tobin

Cowles Foundation Discussion Papers

No abstract provided.

Profit-Sharing In A Collusive Industry, Martin J. Osborne, Carolyn Pitchik

Cowles Foundation Discussion Papers

We study a model in which collusive duopolists divide up the monopoly profit according to their relative bargaining power. We are particularly interested in how the negotiated profit shares depend on the sizes of the firms. If each can produce at the same constant unit cost up to its capacity, we show that the profit per unit of capacity of the small firm is higher than that of the large one. We also study how the ratio of the negotiated profits depends on the size of demand relative to industry capacity, and how this ratio changes with variations in demand.

Linear Complementarity And The Average Volume Of Simplicial Cones, Roger Howe

Cowles Foundation Discussion Papers

Samle [S] has recently shown how to estimate the average number of pivot steps in Lemke’s algorithm for the linear complementarity problem (LCP) in terms of the “volumes” of certain cones. In this paper we discuss the notion of average volumes of cones, and give two applications to the LCP.

Federal Reserve Bulletin - June 1983, Federal Reserve System

Documents

No abstract provided.

Yale Scientific Magazine: Volume 57, Number 4

Yale Scientific Magazine

No abstract provided.

Banca D'Italia: Abridged Version Of The Report For The Year 1982, Banca D'Italia

Documents

No abstract provided.

Hospital Of Saint Raphael, Report To The Community, 1982, Hospital Of Saint Raphael

Hospital of St. Raphael Annual Reports

No abstract provided.

Good-Bye Financial Repression, Hello Financial Crash, Carlos F. Diaz-Alejandro

Discussion Papers

No abstract provided.

Multiperiod Insurance Contracts, Russell Cooper, Beth Hayes

Cowles Foundation Discussion Papers

No abstract provided.

Yale Political Monthly 1983 May, The Politic, Inc.

The Politic

No abstract provided.

Yale Nurse: Yale University School Of Nursing Alumnae/I Association Newsletter, Spring 1983, Yale University School Of Nursing

Yale School of Nursing Alumni Newsletters and Magazines

This issue's feature article is "Walking Through History: 60 Years at YSN" which focuses on the launch of a School archive of historical items donated by alumni.

Please contact the Medical Historical Library if you need a higher resolution version.

Fertility Choice In A Growth Model With Land: Malthus Reconsidered, Zvi Eckstein, Steven Stern, Kenneth Wolpin

Discussion Papers

No abstract provided.

The Dynamics Of Agricultural Supply: A Reconsideration, Zvi Eckstein

Discussion Papers

No abstract provided.

Fiscal Incidence In A Dynamic Life-Cycle Model With Land, Christophe Chamley

Cowles Foundation Discussion Papers

No abstract provided.

A New Species Of Isectolophus (Mammalia, Tapiroidea) From The Middle Eocene Of Wyoming, Robert Milton Schoch

Postilla

A partial right dentary bearing M3 from the middle Eocene (Bridger) of Wyoming represents a new species of Isectolophus here designated I. radinskyi. I. radinskyi differs from all other Isectolophus in its smaller size; it is intermediate in size between Homogalax protapirinus and its supposed descendant Isectolophus latidens.

Treasury And Federal Reserve Foreign Exchange Operations (August 1982-January 1983), Federal Reserve System: Federal Reserve Bank Of New York

Documents

No abstract provided.

The U.S. Strategic Petroleum Reserve: An Analytic Framework, Jonathan Eaton, Zvi Eckstein

Discussion Papers

No abstract provided.

First Order Autoregressive Processes And Strong Mixing, Donald W.K. Andrews

Cowles Foundation Discussion Papers

A sufficient condition is given such that first-order autoregressive processes are stong mixing. The condition is specified in terms of the univariate distribution of the independent identically distributed innovation random variables. Normal, exponential, uniform, Cauchy, and many other continuous innovation random variables are shown to satisfy the condition. In addition, an example of a first-order autoregressive process which is not strong mixing is given. This process has Bernoulli (p) innovation random variables and any autoregressive parameter in (0, 1/2).

A Strategic Market Game With Transaction Costs, J. D. Rogawski, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.

Blockmodeling Complex Statutes: Mapping Techniques Based On Combinatorial Optimization For Analyzing Economic Legislation And Its Stress Points Over Time, Scott A. Boorman, Paul R. Levitt

Cowles Foundation Discussion Papers

Blockmodeling, a combinatorial technique for relational data analysis, is applied to studying texts of complex economic legislation. By making this area a subject for mathematical modeling, using methods related to combinatories, logic, and discrete optimization, we describe a new type of frontier between law and economics.