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Articles 2911 - 2940 of 3476

Full-Text Articles in Economics

Weakly Democratic Regular Tax Equilibria In A Local Public Goods Economy With Perfect Consumer Mobility, Donald K. Richter Mar 1980

Weakly Democratic Regular Tax Equilibria In A Local Public Goods Economy With Perfect Consumer Mobility, Donald K. Richter

Cowles Foundation Discussion Papers

No abstract provided.


A Model Of U.S. Financial And Nonfinancial Economic Behavior, David Backus James Tobin, William C. Brainard, Gary Smith, James Tobin Mar 1980

A Model Of U.S. Financial And Nonfinancial Economic Behavior, David Backus James Tobin, William C. Brainard, Gary Smith, James Tobin

Cowles Foundation Discussion Papers

No abstract provided.


An Application Of The Khachianshor Algorithm To A Class Of Linear Complementary Problems, Ilan Adler, Richard P. Mclean, J. Scott Provan Mar 1980

An Application Of The Khachianshor Algorithm To A Class Of Linear Complementary Problems, Ilan Adler, Richard P. Mclean, J. Scott Provan

Cowles Foundation Discussion Papers

The recent ellipsoidal method for solving linear programs due to Khachian and Shor is shown to process linear complementarity problems with positive semidefinite matrix. Suitable modifications of all lemmas are presented and it is shown that the algorithm operates in polynomial time of the same order as that required for linear programming. Thus quadratic programming problems are solvable in polynomial time.


Rawlsian Justice As The Core Of A Game, John E. Roemer, Roger Howe Feb 1980

Rawlsian Justice As The Core Of A Game, John E. Roemer, Roger Howe

Cowles Foundation Discussion Papers

It is suggested that the ethical notion of social contract can be formally modeled using the well-studied concept of the core of a game. This provides a mathematical technique for studying social contracts and theories of justice. The idea is applied to Rawlsian justice here.


Exploitation And Class: Part Ii, Capitalist Economy, John E. Roemer Feb 1980

Exploitation And Class: Part Ii, Capitalist Economy, John E. Roemer

Cowles Foundation Discussion Papers

No abstract provided.


Inequality, Exploitation, Justice And Socialism: A Theoretical-Historical Approach, John E. Roemer Feb 1980

Inequality, Exploitation, Justice And Socialism: A Theoretical-Historical Approach, John E. Roemer

Cowles Foundation Discussion Papers

No abstract provided.


Some Relationships Between Discrete And Continuous Models Of An Urban Economy, Richard P. Mclean, Thomas J. Muench Dec 1979

Some Relationships Between Discrete And Continuous Models Of An Urban Economy, Richard P. Mclean, Thomas J. Muench

Cowles Foundation Discussion Papers

No abstract provided.


A Multicountry Econometric Model, Ray C. Fair Dec 1979

A Multicountry Econometric Model, Ray C. Fair

Cowles Foundation Discussion Papers

No abstract provided.


A Multicountry Econometric Model, Ray C. Fair Dec 1979

A Multicountry Econometric Model, Ray C. Fair

Cowles Foundation Discussion Papers

No abstract provided.


On The Tendency Toward Convexity Of The Vector Sum Of Sets, Roger Howe Nov 1979

On The Tendency Toward Convexity Of The Vector Sum Of Sets, Roger Howe

Cowles Foundation Discussion Papers

No abstract provided.


An Algorithm For Fiml And 3sls Estimation Of Large Nonlinear Models, William R. Parke Oct 1979

An Algorithm For Fiml And 3sls Estimation Of Large Nonlinear Models, William R. Parke

Cowles Foundation Discussion Papers

This paper presents a numerical algorithm for computing full information maximum likelihood (FIML) and nonlinear three-stage least squares (3SLS) coefficient estimates for large nonlinear macroeconomic models. The new algorithm, which is demonstrated by actually computing FIML and 3SLS coefficient estimates for two versions of the 97 equation Fair Model, is substantially more effective than other algorithms on FIML and 3SLS estimation problems.


Morse Programs, Okitsugu Fujiwara Oct 1979

Morse Programs, Okitsugu Fujiwara

Cowles Foundation Discussion Papers

(Qvu) minimize {f(x) - uTx subject to g(x) < b + v} where f : Rn approaches R, g: Rn approaches Rm; f in C2, g in Cn; u in Rn, v in Rm; n > m; that at any local minimum point x of (Qvu) the Jacobian matrix of g at x has full rank, strict complementary slackness holds and the second order sufficiency conditions hold, for almost every matrix{u v} in Rn x Rm (Lebesgue measure). The purpose of this paper is to explicate the geometry underlying their work and to exploit this geometry in the generic analysis of constrained optimization problems. Namely we show that their work can be reduced to the study of minimizing a Morse function on a manifold with boundary. We follow …


The Spending Behavior Of Wealth- And Liquidity-Constrained Consumers, Kim Kowalewski, Gary Smith Sep 1979

The Spending Behavior Of Wealth- And Liquidity-Constrained Consumers, Kim Kowalewski, Gary Smith

Cowles Foundation Discussion Papers

No abstract provided.


Competitive Bidding And Proprietary Information, Richard Engelbrecht-Wiggans, Robert J. Weber Aug 1979

Competitive Bidding And Proprietary Information, Richard Engelbrecht-Wiggans, Robert J. Weber

Cowles Foundation Discussion Papers

The auction of an object is considered, for the case in which one bidder is better-informed than the others concerning the actual value of the object. An equilibrium point solution of the competitive bidding game is determined; at this equilibrium, the expected revenue of the less-well-informed bidders is zero. The case of an object which can take only values from a discrete set is dealt with as the limit of auctions of continuously-valued objects.


Disequilibrium Models Of Financial Institutions, Gary Smith, William C. Brainard Jul 1979

Disequilibrium Models Of Financial Institutions, Gary Smith, William C. Brainard

Cowles Foundation Discussion Papers

No abstract provided.


Information Aggregation And Policy, Laurence Weiss Jul 1979

Information Aggregation And Policy, Laurence Weiss

Cowles Foundation Discussion Papers

No abstract provided.


Tax-Based Incomes Policies: A Better Mousetrap?, William D. Nordhaus Jul 1979

Tax-Based Incomes Policies: A Better Mousetrap?, William D. Nordhaus

Cowles Foundation Discussion Papers

No abstract provided.


The Energy Crisis And Macroeconomic Policy, William D. Nordhaus Jul 1979

The Energy Crisis And Macroeconomic Policy, William D. Nordhaus

Cowles Foundation Discussion Papers

No abstract provided.


The Design Of Distributed Service Systems, David R. Strip, Richard Engelbrecht-Wiggans Jul 1979

The Design Of Distributed Service Systems, David R. Strip, Richard Engelbrecht-Wiggans

Cowles Foundation Discussion Papers

A variety of practical situations involve supplying a particular commodity by some locations to satisfy the demand at others. If the demands and the costs of producing varying amounts of commodity at each location are known, then the question is how much commodity should be supplied by each location in order to minimize the total system cost. Under some relatively general conditions, there will be an optimal solution with the property that the vector of amounts supplied by the various locations is one of a distinguished set of points. In the case of star networks, this combinatorial nature may be …


“On The Relation Of Various Reliability Measures To Each Other And To Game Theoretic Values, Richard Engelbrecht-Wiggans, David R. Strip Jul 1979

“On The Relation Of Various Reliability Measures To Each Other And To Game Theoretic Values, Richard Engelbrecht-Wiggans, David R. Strip

Cowles Foundation Discussion Papers

A variety of measures have recently been proposed for measuring the relative importance of individual components in the overall reliability of a system. Several of these seemingly different measures are very closely related under the conditions typically assumed in the reliability literature. The measures are also closely related to the probabilistic values of game theory; although the game theoretic literature predates the reliability literature by up to two decades, the similarities have apparently not been previously observed or exploited.


How Should We Revise Our Beliefs About Nuclear Power Safety After Three Mile Island?, William D. Nordhaus Jul 1979

How Should We Revise Our Beliefs About Nuclear Power Safety After Three Mile Island?, William D. Nordhaus

Cowles Foundation Discussion Papers

In light of the accident at Three Mile Island, the paper presents a preliminary analysis of the compatibility between the analytical work of the Reactor Safety Study (Rasmussen Report) and actuarial experience. The technique is a “macroanalytic” approach rather than the “microanalytic” method of the Reactor Safety Study. The first question asked is how likely it is that an accident as severe as that at Three Mile Island would occur if the Reactor Safety Study is correct. Using the most likely estimates, it is concluded that the chances are 1 in 80 that such an accident would occur this soon, …


The Alep Definition Of Complementarity And Least Concave Utility Functions, Yakar Kannai Jun 1979

The Alep Definition Of Complementarity And Least Concave Utility Functions, Yakar Kannai

Cowles Foundation Discussion Papers

The use of least concave utility functions describing a given concavifiable preference relation is suggested for determining the complementary vis-à-vis substitute nature of a pair of commodities.


Production Sets With Indivisibilities: Generalities And The Case Of Two Variables, Herbert E. Scarf May 1979

Production Sets With Indivisibilities: Generalities And The Case Of Two Variables, Herbert E. Scarf

Cowles Foundation Discussion Papers

No abstract provided.


Most Convex Functions Are Smooth, Roger Howe May 1979

Most Convex Functions Are Smooth, Roger Howe

Cowles Foundation Discussion Papers

No abstract provided.


Stochastic Games, Oligopoly Theory And Competitive Resource Allocation, Martin Shubik, Matthew J. Sobel May 1979

Stochastic Games, Oligopoly Theory And Competitive Resource Allocation, Martin Shubik, Matthew J. Sobel

Cowles Foundation Discussion Papers

We define discrete time sequential games which are multiperson Markov decision processes. The extant theory is sketched and compared with our assessment of research needs in dynamic models of oligopoly and other competitive resource allocation problems. A special class of economic survival games is noted.


The Short-Run Macroeconomics Of Floating Exchange Rates: An Exposition, James Tobin, Jorge B. De Macedo Apr 1979

The Short-Run Macroeconomics Of Floating Exchange Rates: An Exposition, James Tobin, Jorge B. De Macedo

Cowles Foundation Discussion Papers

No abstract provided.


A Strategic Market Game With Price And Quantity Strategies, Pradeep Dubey, Martin Shubik Apr 1979

A Strategic Market Game With Price And Quantity Strategies, Pradeep Dubey, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


On The Non-Existence Of Multiplicative Equilibrium Bidding Strategies, Richard Engelbrecht-Wiggans, Robert J. Weber Apr 1979

On The Non-Existence Of Multiplicative Equilibrium Bidding Strategies, Richard Engelbrecht-Wiggans, Robert J. Weber

Cowles Foundation Discussion Papers

Extensive use has been made of multiplicative bidding strategies in the literature relating to auctions of mineral leases. It is shown that, generally, multiplicative strategies are not in equilibrium. It is also established that an equilibrium bidding strategy is not a function merely of a sufficient statistic for the true value, or of any other of a class of related statistics, if an individual bidder observes more than one piece of information. The general insufficiency of a single simple statistic is briefly discussed and a special class of models is identified in which a single statistic is indeed strategically sufficient.


Price-Quantity Strategic Market Games, Pradeep Dubey Mar 1979

Price-Quantity Strategic Market Games, Pradeep Dubey

Cowles Foundation Discussion Papers

No abstract provided.


Full Information Estimates Of A Nonlinear Macroeconometric Model, Ray C. Fair, William R. Parke Mar 1979

Full Information Estimates Of A Nonlinear Macroeconometric Model, Ray C. Fair, William R. Parke

Cowles Foundation Discussion Papers

No abstract provided.