Social and Behavioral Sciences Commons^™

The Interaction Of Implicit And Explicit Contracts In Repeated Agenc, David G. Pearce, Ennio Stacchetti

Cowles Foundation Discussion Papers

Traditional agency theory assumes that the principal has no more information about the agent’s actions than the enforcement authorities have. This is unrealistic in many settings, and in repeated models, additional information possessed by the principal changes the nature of the problem. Such information can be used in implicit, self-enforcing contracts between principal and agent, that supplement the usual explicit contracts. This paper studies the way in which the two kinds of contracts are combined in constrained efficient equilibria of the agency supergame. The agent’s compensation is comprised of both guaranteed payments and voluntary bonuses from the principal. We give …

Reflections On Econometric Methodology, Peter C.B. Phillips

Cowles Foundation Discussion Papers

General issues about the methodology of empirical econometric research are discussed. It is argued that the most successful paradigms for applied work are the ones that have a capacity to survive and to evolve into more useful forms as these are needed. Paradigms that embrace progressive modeling principles, such as those espoused by David Hendry, seem most amenable to this criterion. It is also argued that econometric theory has a large role to play in helping us to understand the strengths and the weaknesses of a methodology and to codify what its prescriptions entail. The time series methodology of David …

Africa In Economic Crisis, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

No abstract provided.

The Environmental, Economic, And Social Impacts Of Resort Development And Tourism On Native Hawaiians, Jon Matsuoka, Terry Kelly

The Journal of Sociology & Social Welfare

Hawaii is currently undergoing major changes associated with land and industrial development. A shift in focus from agriculture to tourism has led to massive land development throughout the islands in order to accommodate this growing industry. The people affected most by these environmental changes are the indigenous people of Hawaii who exist in close harmony with the land and sea. As natural habitats are destroyed, fish and other food sources disappear. This has profound affects upon the behavior and practices of Hawaiian people who must look to other means for subsistence. Changes in the environment are inherently tied to changes …

An Expanded Role In Taos For Northern _Dec 1988, John L. Temple

BBER Publications

The report combines a census survey of all Taos-area high school seniors (295 students) with a mail survey of 428 Taos households. The results showed overwhelming support for expansion, strong enrollment potential, and broad willingness to provide increased local support.

Employment Decline I Timber Dependent Regions, Anthony M. Rufolo, James G. Strathman, Lois M. Bronfman

Center for Urban Studies Publications and Reports

Employment in the wood products industry in Oregon has declined over the past decade despite the resurgence in demand for the products of the industry in the last few years. Because of the dependency of rural regions on this industry, the Ford Foundation funded the authors to undertake a study of the causes and consequences of employment decline within the industry. Such information can contribute to the development of strategies for improving the economic viability of these regions.

Tunber dependent regions in Oregon fit the classic export-base model of economic development These areas produce wood products for export to other …

The Intendant, The Merchants, And Free Trade In Louisiana, 1778-1788, Brian E. Coutts

DLPS Faculty Publications

Spain acquired Louisiana from France in 1763 but was initially unsuccessful in integrating the distant colony into the Spanish commercial system. Encouraged by the colony’s chief financial officer, Intendant Martín Navarro, the Spanish Crown introduced legislation on January 22, 1782 to promote commerce. Free trade was to be permitted for ten years with designated ports in France. The liberal character of the code fostered the growth of numerous merchant companies in New Orleans who found markets for all of Louisiana’s exports in France, England and the French West Indies. Unfortunately, Spain continued to absorb all of the administrative costs for …

El Intendente, Los Comerciantes Y El "Comercio Libre" En Luisiana 1778-1788, Brian E. Coutts

DLPS Faculty Publications

Spain acquired Louisiana from France in 1763 but was initially unsuccessful in integrating the distant colony into the Spanish commercial system. Encouraged by the colony’s chief financial officer, Intendant Martín Navarro, the Spanish Crown introduced legislation on January 22, 1782 to promote commerce. Free trade was to be permitted for ten years with designated ports in France. The liberal character of the code fostered the growth of numerous merchant companies in New Orleans who found markets for all of Louisiana’s exports in France, England and the French West Indies. Unfortunately, Spain continued to absorb all of the administrative costs for …

Removing Impediments To Water Markets, B. Delworth Gardner

Faculty Publications

A few years ago it was mostly economists, notably those of a libertarian stripe who were advocating voluntary market exchanges of water in the West. Now these exchanges, or transfers as they are sometimes referred to, are being unabashedly recommended by water users, politicians, bureaucrats, and even environmental organizations, who have come to see their value for achieving a more efficient water allocation. Water markets are an idea whose time has finally arrived.

Acute Care Bed Need In Maine: General Use Acute Care Facilities In Maine : Utilization, Occupancy Rates, And Bed Need Projected To 1990 And 1995, Stephen Greenberg

Maine Collection

Acute Care Bed Need in Maine: General Use Acute Care Facilities in Maine : Utilization, Occupancy Rates, and Bed Need Projected to 1990 and 1995

by Stephen Greenberg, Planning and Research Associate, Office of Data, Research, and Vital Statistics.

Prepared at the request of the Division of Planning, Bureau of Health, Maine Department of Human Services.

Produced under Appropriations 1310.4, 1305.1065 and 2210.2950 (November, 1988).

Contents: Overview and Discussion of Findings / Using the Data: An Example / List of Detailed Tables / Appendices

The Behavior Of Home Buyers In Boom And Post-Boom Markets, Robert J. Shiller, Karl E. Case

Cowles Foundation Discussion Papers

No abstract provided.

The Interaction Of Implicit And Explicit Contracts In Repeated Agency, Martin Shubik

Cowles Foundation Discussion Papers

This article deals with experimental games as they pertain to game theory. As such there is a natural distinction between experimentation with abstract games devoted to testing a specific hypothesis in game theory and games with a scenario from a discipline such as economics or political science where the game is presented in the context of some particular activity.

Review Of "The Adoption And Diffusion Of Imported Technology: The Case Of Korea" By J. L. Enos And W. H. Park, Larry E. Westphal

Economics Faculty Works

No abstract provided.

Money Demand And The Effects Of Fiscal Policies: A Comment, Farrokh Nourzad, James Mcgibany

Economics Faculty Research and Publications

No abstract provided.

America's Rendezvous With Reality, Murray L. Weidenbaum

Murray Weidenbaum Publications

This piece deals with finding solutions to economic policy problems after the Reagan Administration.

South Dakota's Sustainable Agriculture Farmers, Donald C. Taylor, Thomas L. Dobbs

Economics Commentator (1972- 2016)

No abstract provided.

A Little Magic With The Cauchy Distribution, Peter C.B. Phillips

Cowles Foundation Discussion Papers

The standard Cauchy distribution is completely characterized by theproperty that it has no atmos and is distributionally equivalent under the involution X → – 1/ X , i.e., X ≡ – 1/ X . Since maximum likelihood is invariant to the choice of normalization rule in structural equation estimation this property establishes that the LIML estimator is standard Cauchy in the leading case of a canonical structural equation. This is a proof by identifying characteristics and is a major improvement over the usual apparatus of change of variable methods and reductions by multiple integration. The new approach has applications in …

A New Proof Of Knight's Theorem On The Cauchy Distribution, Peter C.B. Phillips

Cowles Foundation Discussion Papers

We offer a new and straightforward proof of F.B. Knight’s [3] theorem that the Cauchy type is characterized by the fact that it has no atom and is invariant under the involution i : x → –1/ x . Our approach uses the representation X = tan θ where θ is uniform on (–π/2, π/2) when X is standard Cauchy. A matrix generalization of this characterization theorem is also given.

Legislating Infitah: Investment, Currency, And Foreign Trade Laws, Khaled Mahmoud Fahmy

Faculty Books

No abstract provided.

Human Rights, Women, And Third World Development, Winston E. Langley

William Monroe Trotter Institute Publications

As part of the effort to inaugurate a new international socio-political order after World War II, international emphasis was given to certain moral and legal entitlements we have come to call human rights. That emphasis initially found its most forceful expression in the Charter of the United Nations, which not only asserts its members' faith in fundamental human rights, in the dignity and worth of the human person, as well as in the equal rights of men and women of all nations, but also recites its members' commitment to employ international machinery for the promotion of the social and economic …

The Macroeconomics Of Government Finance, Michael Haliassos, James Tobin

Cowles Foundation Discussion Papers

This paper establishes the asymptotic normality of series estimators for nonparametric regression models. Gallant’s Fourier flexible form estimators, trigonometric series estimators, and polynomial series estimators are prime examples of the estimators covered by the results. The results apply to a wide variety of estimands in the regression model under consideration, including derivatives and integrals of the regression function. The errors in the model may be homoskedastic or heteroskeclastic. The paper also considers series estimators for additive interactive regression (AIR), seimparametric regression, and semiparametric index regression models and shows them to be consistent and asymptotically normal. All of the consistency and …

Economic Impact Of Proposed Solid Waste_October 1988, Anna Weigner Lamberson

BBER Publications

The study evaluates the anticipated economic effects of proposed New Mexico solid waste regulations and compares them with proposed federal regulations under the Resource Conservation and Recovery Act (RCRA) Subtitle D. Prepared by Anna Weigner Lamberson for the University of New Mexico Bureau of Business and Economic Research under contract with the New Mexico Environmental Improvement Division, the study analyzes compliance costs associated with landfill operation, monitoring, closure, and post-closure requirements. Using cost models derived from federal regulatory impact analyses and applying them to eight hypothetical landfill sites representative of New Mexico conditions, the report estimates the financial burden of …

Economic Impact Of Proposed Solid Waste_Oct 1988, Anna Weniger Lamberson

BBER Publications

The report evaluates the likely economic effects of proposed revisions to New Mexico solid waste regulations and compares them with proposed federal standards under Resource Conservation and Recovery Act (RCRA) Subtitle D. The study uses eight hypothetical landfill scenarios representing typical New Mexico communities to estimate compliance costs associated with monitoring, liners, closure requirements, staffing, methane control, and post-closure care.

Reduced Tillage Economics Research, Donald C. Taylor, Thomas L. Dobbs

Economics Commentator (1972- 2016)

No abstract provided.

New Mexico Vocational Education Sex _09-29-1988, Richard Zimmerman

BBER Publications

The research focused on 13 technical occupations, including drafting, electronics, manufacturing technologies, welding, construction management, instrumentation and control, hazardous materials, wastewater treatment, and nondestructive testing. Three surveys were conducted: a survey of women graduates from 1985-1988, a survey of employers who hired those graduates, and a survey of New Mexico firms likely to employ workers in these technical fields.

Commentary: The "Negro" Problem In The 1980s, Wornie L. Reed

Trotter Review

Since 1984 the National Research Council (NRC) of the National Academy of Science has been conducting a study on the status of black Americans. And since 1986 the William Monroe Trotter Institute has been conducting a similar study. The Trotter Institute study was developed because we wanted to have the widest possible discussion of the present condition of blacks and the social policy implications of that condition.

Metropolitan Report - September 6, 1988, Division Of Business And Economic Research, College Of Business Administration, University Of New Orleans

UNO Metropolitan Report (1986-2017)

No abstract provided.

Private Sector Shrinkage And The Growth Of Industrialized Economies: Reply, Michael L. Marlow

Economics

No abstract provided.

Controlling Leviathan Through Tax Reduction, Michael L. Marlow, William Orzechowski

Economics

No Abstract

Vol. 12 No. 1 (1988): Pacific Studies Front Matter, The Jonathan Nāpela Center For Hawaiian And Pacific Islands Studies

Pacific Studies

Pacific Studies is published two times a year by The Jonathan Nāpela Center for Hawaiian and Pacific Studies, Brigham Young University Hawai‘i #1979, 55–220 Kulanui Street, Lāʻie, Hawai‘i 96762, but responsibility for opinions expressed in the articles rests with the authors alone. Subscription rate is US$40.00 yearly, payable to The Jonathan Nāpela Center for Hawaiian and Pacific Studies. The Jonathan Nāpela Center for Hawaiian and Pacific Studies (formerly The Pacific Institute) is an organization funded by Brigham Young University Hawai‘i. The Center assists the University in meeting its cultural and educational goals by undertaking a program of teaching, research, and …