# Cowles Foundation for Research in Economics, Yale University

# Cowles Foundation Discussion Papers

**Contact information of Cowles Foundation for Research in Economics, Yale University:**

Postal: Yale University, Box 208281, New Haven, CT 06520-8281 USA

Phone: (203) 432-3702

Fax: (203) 432-6167

Web page: http://cowles.econ.yale.edu/

More information through EDIRC

**Order information:**

Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA

**Pricing
information:** There is no charge for up to three items from the lists. Additional items and subsequent requests bringing the total to over three items will be charged at the following rate which must be prepaid: $3.00 each sent to US address, $4.00 each sent to International address
**For corrections or technical questions regarding this series, please contact
(Glena Ames)** **Series handle:** repec:cwl:cwldpp
**Citations RSS feed:** at CitEc
**Impact factors**:
Simple
(last 10 years),
Recursive
(10),
Discounted
(10),
Recursive discounted
(10),
H-Index
(10),
Aggregate
(10)
**Access and download statistics****Top item:** By citations. By downloads (last 12 months).

More pages of listings: 0| 1| 2| 3| 4| 5| 6| 7| 8| **9**| 10

### 1968

**249 A Note on a Simulated Stock Market***by*Martin Shubik**248 The Effects of Income, Wealth, and Capital Gains Taxation on Risk Taking***by*Joseph E. Stiglitz**247 Some Experimental Non-Constant-Sum Games Revisited. Perception of Opponent's Payoffs. Part III***by*Martin Shubik & David H. Stern**246 An Experimental Research in Oligopoly***by*James W. Friedman**245 Notes on Optimal Monetary Growth***by*James Tobin**244 Pitfalls in Financial Model-Building***by*William C. Brainard & James Tobin**243 Quiz Show Problems***by*Joseph B. Kadane

### 1967

**242 A Re-Examination of the Modigliani Miller Theorem***by*Joseph E. Stiglitz**241 The Optimal Life of a Patent***by*William D. Nordhaus**240 Some Experimental Non-Constant-Sum Games Revisited. Part II***by*Martin Shubik & David H. Stern**239 Iterative Multi-Level Planning with Production Targets***by*Martin L. Weitzman**238 Distribution of Income and Wealth Among Individuals***by*Joseph E. Stiglitz**237 A Note on Taxation, Increasing Returns Due to Set-up Costs and Competitive Equilibrium***by*Martin Shubik**236 Some Experimental Non-Constant-Sum Games Revisited. Part I***by*Martin Shubik & David H. Stern**235 An Econometric Study of Cotton Production and Trade Before 1860***by*Gavin Wright**234 A Noncooperative View of Oligopoly***by*James W. Friedman**233 Price Strategy Oligopoly with Product Variation***by*Lloyd S. Shapley & Martin Shubik**232 On the Computation of Equilibrium Prices***by*Herbert E. Scarf**231 Cross-Section Analysis and Bank Dynamics***by*Donald D. Hester & James L. Pierce**230 Welfare, Static and Dynamic Solution Concepts***by*Martin Shubik**229 Maximizing Stationary Utility in a Constant Technology***by*Richard Beals & Tjalling C. Koopmans**228 Intertemporal Distribution and 'Optimal' Aggregate Economic Growth***by*Tjalling C. Koopmans**227 Part VII: The Nonsymmetric Game: The Generalized Beat-the-Average Solution***by*Levitan, Richard E. & Martin Shubik**226 Spectral Analysis of the Relation between Employment Changes and Output Changes***by*Daniel S. Hammermesh**225 Part V: The Nonsymmetric Game: Joint Maximum, Efficient Solution and Measures of Collusion and Welfare***by*Richard E. Levitan & Martin Shubik**224 The Cournot Equilibrium in a Nonsymmetric Oligopolistic Market (A Business Game for Teaching and Research Purposes: Part VI)***by*Richard E. Levitan & Martin Shubik**223 An Empirical Analysis of the Postwar Savings and Loan Industry***by*John E. Spencer**222 A Note on the Limit of the Core of an Exchange Economy***by*Terje Hansen**221 Distributed Lags and Unobserved Components in Economic Time Series***by*Marc Nerlove**220 The Role of the Neyman Pearson Lemma in the Theory of Discrete Search***by*Joseph B. Kadane**219 Part IV: Mathematical Structure and Analysis of the Nonsymmetric Game***by*Richard E. Levitan & Martin Shubik**218 An Impossibility Result Concerning the Theory of Decision-Making***by*Gerald H. Kramer**217 A Further Comparison of Some Models of Duopoly***by*Martin Shubik**216R The Approximation of Fixed Points of a Continuous Mapping***by*Herbert E. Scarf**203BR Simulation of Socio-Economic Systems. Part II: An Aggregative Socio-Economic Simulation of a Latin American Country***by*Martin Shubik

### 1966

**215 A Note on the Role of Money in Providing Sufficient Intermediation***by*David Cass & Menahem E. Yaari**214 Optimal Employment and Inflation over Time***by*Edmond S. Phelps**213 Structural Restrictions and Estimation Efficiency in Linear Econometric Models***by*Thomas J. Rothenberg**212 Objectives, Constraints and Outcomes in Optimal Growth Models***by*Tjalling C. Koopmans**211 An Algorithm for a Class of Nonconvex Programming Problems***by*Herbert E. Scarf**210 Estimation of A Fixed Coefficients Vintage Model of Production***by*Richard Attiyeh**209 Some Econometric Problems in the Analysis of Inventory Cycles***by*Kenneth F. Wallis**208 Notes on the Taxonomy of Problems Concerning Public Goods***by*Martin Shubik**207 Equal Profits as a Fair Division***by*James W. Friedman**206R Structure of Preference over Time***by*Tjalling C. Koopmans**205 Efficient Estimation with a priori Information: A Classical Approach***by*Thomas J. Rothenberg**204 Game Theory and Economic Behavior***by*Martin Shubik**203B Simulation of Socio-Economic Systems. Part II: An Aggregative Socio-Economic Simulation of a Latin American Country***by*Martin Shubik**203A Simulation of Socio-Economic Systems. Part I: General Considerations***by*Martin Shubik**202 Application of Signal Extraction Techniques in the Study of Economic Time Series***by*David M. Grether**201 An Empirical Analysis of Risk Taking by Firms in the Savings and Loan Industry***by*Donald D. Hester**200 Measurable, Transferable, Comparable Utility and Money***by*Martin Shubik

### 1965

**199 Quasi and Generalized Golden Rule Paths: A Study of Commanding Growth Paths***by*Edmond S. Phelps**198 Individual Saving, Aggregate Capital Accumulation, and Efficient Growth***by*David Cass & Menahem E. Yaari**197 Uncertainty and Diversification in International Trade***by*William C. Brainard & Richard N. Cooper**196 Axioms for Factor Augmenting Technical Progress***by*Edmond S. Phelps**195 A Re-Examination of the Pure Consumption Loans Model***by*David Cass & Menahem E. Yaari**194 The Ramsey Problem and the Golden Rule of Accumulation***by*Edmond S. Phelps**193 Random Measure Preserving Transformations***by*Robert J. Aumann**192 An Experimental Study of Cooperative Duopoly***by*James W. Friedman**191 Absorptive Capacity and the Golden Rule of Accumulation***by*Edmond S. Phelps**190 Investment in Humans, Technological Diffusion and the Golden Rule of Education***by*Edmond S. Phelps**189 Investment in Humans, Technological Diffusion and Economic Growth***by*Richard R. Nelson & Edmond S. Phelps**188 A Model of Fixed Capital without Substitution***by*Robert M. Solow & James Tobin & C.C. Von Weisazacker & Menahem E. Yaari**187 A Dynamic Model of the Competitive Firm***by*Edward Zabel**186 A Model of Induced Invention, Growth and Distribution***by*Emmanuel M. Drandakis & Edmond S. Phelps**185 Factor-Price-Frontier Estimation of a 'Vintage' Production Model of the Post-war U.S. Nonfarm Business Sector***by*Edmond S. Phelps & Charlotte Phelps**184 The Relation Between Bank Portfolios and Earnings: An Econometric Analysis***by*Donald D. Hester & John F. Zoellner**183 Optimal Output and Price Policies for General Distributed Lag Demand Equations***by*Robert L. Graves & Lester G. Telser**182R The Core of an N Person Game***by*Herbert E. Scarf

### 1964

**181 A Time Series Analysis of Interest Rates***by*David I. Fand**180 A Business Game for Teaching and Research Purposes. Part III. Discussion and Manual for Users***by*Martin Shubik**179 A Parametric Simplicial Formulation of Houthakker's Capacity Method***by*C. Van De Panne & Andrew B. Whinston**178 Optimum Economic Growth in an Aggregative Model of Capital Accumulation: A Turnpike Theorem***by*David Cass**177 The Construction of Utility Functions from Expenditure Data***by*S.N. Afriat**176 Models of Technical Progress and the Golden Rule of Research***by*Edmond S. Phelps**175 Stock Market Indices: A Principal Components Analysis***by*George J. Feeney & Donald D. Hester**174 An Experimental Study in Oligopoly***by*James W. Friedman**173 Second Essay on the Golden Rule of Accumulation***by*Edmond S. Phelps**172 A Decomposition Algorithm for Quadratic Programming***by*Andrew B. Whinston**171 Convexity in the Theory of Choice under Risk***by*Menahem E. Yaari**170 An Informal Aggregative Socio-Economic Simulation of a Latin American Country***by*James W. Friedman & Martin Shubik**169 The Existence of a Competitive Equilibrium in a Monetary Economy***by*Emmanuel M. Drandakis**168 The Monetary Mechanism: Some Partial Relationships***by*James L. Pierce**167 Ownership and the Production Function***by*Lloyd S. Shapley & Martin Shubik**166 On Prices, Fiat Money, Credit and Transferable Utility. Part I***by*Martin Shubik**161R Anticipated Inflation and Economic Welfare in a Neoclassical Model***by*Edmond S. Phelps**156 Consumption-Saving Decisions When the Horizon is Random***by*Menahem E. Yaari

### 1963

**165 On an Asymptotic Non-Substitution Theorem in the Two-Sector Closed Production Model***by*Emmanuel M. Drandakis**164 A Two-Country, Three Commodity, Dynamic Model of International Trade***by*T.N. Srinivasan**163A Appendix to 'On the Concept of Optimal Economic Growth'***by*Tjalling C. Koopmans**163 On the Concept of Optimal Economic Growth***by*Tjalling C. Koopmans**162 Conjugate Functions and Symmetric Duality***by*Andrew B. Whinston**160b Alternative Fiscal Policies for Targeted Growth***by*T.N. Srinivasan**160a On the Feasibility of Targeted Growth Through Taxation and the Social Virtue of Private Thrift***by*Edmond S. Phelps**159 Commercial Banks as Creators of 'Money'***by*James Tobin**158 On the Existence of an Optimal Plan in a Continuous-Time Allocation Process***by*Menahem E. Yaari**157 A Test of the Specification of the Aggregate Production Function***by*Ronald G. Bodkin**155 On the Consumer's Lifetime Allocation Process***by*Menahem E. Yaari**154R Factor Substitution in the Two-Sector Growth Model***by*Emmanuel M. Drandakis**153 Properties of Efficient Accumulation Paths in a Closed Production Model***by*Emmanuel M. Drandakis**152 Proportional Growth and Turnpike Theorems***by*Tjalling C. Koopmans**151 Seasonal Adjustment of Economic Time Series and Multiple Regression***by*Michael C. Lovell

### 1962

**63R Financial Intermediaries and the Effectiveness of Monetary Controls***by*James Tobin & William C. Brainard**150 On Flexibility of Future Preference***by*Tjalling C. Koopmans**149 An Analysis of the Effects of Transitory Income on Expenditure of Norwegian Households***by*Harold W. Watts**148 The Demand for Cash and Working Balances of Corporations***by*Alan W. Heston**147 The Wage-Price Productivity Nexus***by*Ronald G. Bodkin**146 Welfare Economics and the Theory of Second Best***by*Otto A. Davis & Andrew B. Whinston**145 Non-Existence of Consistent Estimator Sequences and Unbiased Estimates: A Practical Example***by*H.S. Konijn**144 On a Theorem of Halmos Concerning Unbiased Estimation of Moments***by*H.S. Konijn**143 On the Existence of a Subinvariant Measure***by*Tjalling C. Koopmans & Richard E. Williamson**142 Stationary Utility and Time Preference***by*Peter A. Diamond & Tjalling C. Koopmans & Richard E. Williamson**141 Price Guides in Decentralized Organization***by*Andrew B. Whinston**140 Models of the Joint Demand for Cash and for an Interest-Bearing Asset. Part One***by*Tore Johansen**139R On a Two Sector Model of Growth***by*T.N. Srinivasan**138 Part I: Price-Quantity Markets***by*George J. Feeney**137 Size of Firm, Market Structure, and Innovation***by*Edwin Mansfield**136 The Expenditures of the Firm on Research and Development***by*Edwin Mansfield**135 An Empirical Evaluation of Theories of Saving***by*Harold W. Guthrie**134R The Speed of Response of Firms to New Techniques***by*Edwin Mansfield**133 Substitution, Fixed Proportions, Growth and Distribution***by*Edmond S. Phelps**132R Intrafirm Rates of Diffusion of an Innovation***by*Edwin Mansfield**131 Inventory Investment***by*Michael C. Lovell

### 1961

**89R Buffer Stocks, Sales Expectations, and Stability: A Multi-Sector Theory of the Inventory Cycle***by*Michael C. Lovell**130 On a Theorem of Scarf***by*Gerard Debreu**129 New Concepts and Techniques for Equilibrium Analysis***by*Gerard Debreu**128 An Inter-City Consumption Function***by*Harold W. Watts**127 Corporate Cash and Security Holdings: An Empirical Study of Cash, Securities and Other Current Accounts of Large Corporations***by*Alan W. Heston**126 Entry, Gibrat's Law, Innovation, and the Growth of Firms***by*Edwin Mansfield**125 Monetary Policy, Debt Management and Interest Rates: A Quantitative Appraisal***by*Arthur M. Okun**124 A Note on Uncertainty, Bayesian Inference and Competitive Behavior***by*Phoebus J. Dhrymes**123 Some Empirical Estimates of Short Run Price and Output Policies***by*Edwin S. Mills**122 On Devising Unbiased Estimators for the Parameters of a Cobb Douglas Production Function***by*Phoebus J. Dhrymes**121 Spatial Distribution of Industry***by*H.C. Bos**120 Economic Growth and Wicksell's Cumulative Process***by*Martin J. Beckmann**119 Administered Prices and Imports: The Steel Industry***by*Lawrence B. Krause**118 Input-Output and Activity Analysis in Industrial Concerns***by*Alan S. Manne**117 Investment Criteria and Choice of Techniques of Production***by*T.N. Srinivasan**116 The Growth of Television Ownership in the United Kingdom***by*Andrew D. Bain**115R3 A Business Game for Teaching and Research Purposes***by*Martin Shubik**115R2 A Business Game for Teaching and Research Purposes***by*Martin Shubik**115R1 A Business Game for Teaching and Research Purposes***by*Martin Shubik**114 Output, Sales and Inventory Policy in the Competitive Firm and the Stability of a Competitive Market***by*Edwin S. Mills**113 Some Informal Comments on Models of Decision Processes Under Uncertainty***by*Martin Shubik**112 Incentives, Decentralized Control, the Assignment of Joint Costs and Internal Pricing***by*Martin Shubik**111 An Empirical Examination of a Commercial Bank Loan Offer Function***by*Donald D. Hester**110R An Analysis of the New View of Investment***by*Edmond S. Phelps**109 The Accumulation of Risky Capital: A Discrete-Time Sequential Utility Analysis***by*Edmond S. Phelps**108 Estimation in the Linear Decision Model***by*Walter D. Fisher**107 Extended Edgeworth Bargaining Games and Competitive Equilibrium***by*Martin Shubik**105 Some Experimental Non-Zero Sum Games With Lack of Information about the Rules***by*Martin Shubik**104 Objective Functions and Models of Corporate Optimization***by*Martin Shubik

### 1960

**99 An Objective Permanent Income Concept for the Household***by*Harold W. Watts**98 Inter-Generation Transfers of Wealth and the Theory of Saving***by*James Tobin & Harold W. Guthrie**97 Partial Trace Correlation Theory***by*John W. Hooper**96 Programming of Economic Development***by*Alan S. Manne**95 Product-Mix Alternatives: Flood Control, Electric Power, and Irrigation***by*Alan S. Manne**94 Corporation Dividend Payout Ratios and Target Ratios -- Their Significance and Determination***by*Guy Stevens**93 Demand for Tourists' Goods and Services in a World Market***by*Harold W. Guthrie**92 A New Technique in Equilibrium Analysis***by*Gerard Debreu**91 A Keynesian Model Extended by Explicit Demand and Supply Functions for Investment-Goods***by*Bjorn Thalberg**90R Forced Saving in a Keynesian Economy: An Analysis of Demand-Pull Inflation***by*Michael C. Lovell**88 A Model of Bank Portfolio Selection***by*Richard C. Porter**85R Investment, Replacement, and an Index of Technology***by*Benton F. Massell**106 Comparative Advantage and Development Policy***by*Hollis B. Chenery**103 Factors Affecting the Occupational Migration of Labor from Agriculture***by*Charles H. Berry**102 Patterns of United States Imports, 1947-1958***by*Lawrence B. Krause**101 Capital Risk and Household Consumption: A Sequential Utility Analysis***by*Edmond S. Phelps**100 Approaches to the Study of Decision-Making Relevant to the Firm***by*Martin Shubik

### 1959

**87 On the Appraisal of Cyclical Turning Point Predictors***by*Arthur M. Okun**86 Manufacturers' Inventories, Sales Expectations, and the Acceleration Principle***by*Michael C. Lovell**84 Comment on 'Interindustry Economics' by Chenery and Clark***by*Alan S. Manne**83 Analysis of a Production Problem by Dynamic Programming***by*Martin J. Beckmann**82 Theory of an Efficient Several-Person Firm***by*Jacob Marschak**81 Stationary Ordinal Utility and Impatience***by*Tjalling C. Koopmans**80 Lagrange Multipliers Revisited***by*Morton Slater**79 Some Examples of Global Instability of the Competitive Equilibrium***by*Herbert E. Scarf**78 Consumers' Propensities to Hold Liquid Assets***by*Harold W. Guthrie**77R The Error of Forecast for Multivariate Regression Models***by*John W. Hooper & Arnold Zellner**76 Topological Methods in Cardinal Utility Theory***by*Gerard Debreu**75 Some Team Models of a Sales Organization***by*C.B. McGuire**74 Binary Choice Constraints on Random Utility Indicators***by*Jacob Marschak**73 On the Job Shop Scheduling Problem***by*Alan S. Manne**72 On 'An Identity in Arithmetic'***by*Gerard Debreu**71 Comparisons of Information Structures***by*C.B. McGuire**70 Remarks on the Economics of Information***by*Jacob Marschak**69 Consumer Expenditures and the Capital Account***by*James Tobin & Harold W. Watts**68 A Dynamic Programming Model of the Consumption Function***by*Martin J. Beckmann**67 A Few Remarks on the Assortment Problem***by*Wieslaw Sadowski**66 Random Orderings and Stochastic Theories of Response***by*H.D. Block & Jacob Marschak**65 Efficient and Viable Organizational Forms***by*Jacob Marschak**64 A Capital-Intensive Approach to the Small Sample Properties of Various Simultaneous Equation Estimators***by*Robert Summers**62 Linear Programming and Sequential Decision Models***by*Alan S. Manne

### 1958

**61 Testing for Neutrality of Technological Change. (Is Technological Change Neutral?)***by*Sidney G. Winter**60 A Theory of Life Insurance Company Portfolio Selection***by*Leroy S. Wehrle**59e Economic Theory of Teams. Chapter 5***by*Jacob Marschak & Roy Radner**59c Economic Theory of Teams. Chapter 3***by*Jacob Marschak & Roy Radner**59b Economic Theory of Teams. Chapter 2***by*Jacob Marschak & Roy Radner**59a Economic Theory of Teams. Chapter 1***by*Jacob Marschak & Roy Radner

**9**| 10