# Econometric Society

# Econometrica

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### 1983, Volume 51, Issue 1

**219-21 Ordinal Interpersonal Comparisons in Bargaining***by*Neilsen, Lars Tyge**223-24 An Alternative Characterization of Decreasing Absolute Risk Aversion***by*Dybvig, Philip H & Lippman, Steven A**225-28 Sufficient Conditions for the Consistency of Maximum Likelihood Estimation Despite Misspecifications of Distribution in Multinomial Discrete Choice Models***by*Ruud, Paul A**229-38 An Approximation to the Distribution of the Least Squares Estimator in an Autoregressive Model with Exogenous Variables***by*Maekawa, Koichi

### 1982, Volume 50, Issue 6

**1345-70 Time to Build and Aggregate Fluctuations***by*Kydland, Finn E & Prescott, Edward C**1371-91 Costs of Adjustment and the Spatial Pattern of a Growing Open City***by*Hochman, Oded & Pines, David**1393-1414 The Economic Theory of Index Numbers and the Measurement of Input, Output, and Productivity***by*Caves, Douglas W & Christensen, Laurits R & Diewert, W Erwin**1415-30 Information Acquisition in a Noisy Rational Expectations Economy***by*Verrecchia, Robert E**1431-51 Strategic Information Transmission***by*Crawford, Vincent P & Sobel, Joel**1453-82 Efficiency of Resource Allocation by Uninformed Demand***by*Groves, Theodore & Hart, Sergiu**1483-1504 Job Matching, Coalition Formation, and Gross Substitutes***by*Kelso, Alexander S, Jr & Crawford, Vincent P**1505-24 Market Behavior in a Clearing House***by*Mendelson, Haim**1525-46 Portfolio Efficient Sets***by*Dybvig, Philip H & Ross, Stephen A**1547-57 A Decomposition Algorithm for General Equilibrium Computation with Application to International Trade Models***by*Mansur, Ahsan & Whalley, John**1559-71 Estimation and Hypothesis Testing in Dynamic Singular Equation Systems***by*Anderson, G J & Blundell, R W**1573-75 A Note on the Estimation of Symmetric Systems***by*Byron, R P**1577-83 Tests of Linear Hypotheses and l[subscript]1 Estimation***by*Koenker, Roger & Bassett, Gilbert, Jr**1585-90 Simultaneous Equations Analysis of Fertility in the U.S.: A Comment***by*Biswas, Basudeb & Ram, Rati

### 1982, Volume 50, Issue 5

**1089-1122 A Theory of Auctions and Competitive Bidding***by*Milgrom, Paul R & Weber, Robert J**1123-42 The Role of Information in Bargaining: An Experimental Study***by*Roth, Alvin E & Murnighan, J Keith**1143-62 Information in Production***by*MacDonald, Glenn M**1163-81 On the Possibility of Speculation under Rational Expectations***by*Tirole, Jean**1183-1205 Micro-Based Estimates of Demand Functions for Local School Expenditures***by*Bergstrom, Theodore C & Rubinfeld, Daniel L & Shapiro, Perry**1207-18 Fiscal Incidence at the Local Level***by*Martinez-Vazquez, Jorge**1219-42 Relative Prices, Employment, and the Exchange Rate in an Economy with Foresight***by*Obstfeld, Maurice**1243-68 Decreasing Costs in International Trade and Frank Graham's Argument for Protection***by*Ethier, Wilfred J**1269-86 Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models***by*Hansen, Lars Peter & Singleton, Kenneth J**1287-1305 Comparison of Local Power of Alternative Tests of Non-Nested Regression Models***by*Pesaran, M H**1307-24 On the Consistency of Nonlinear FIML***by*Phillips, P C B**1325-28 Correction to a Lemma [The Maximum Likelihood and Nonlinear Three Stage Least Squares Estimator in the General Nonlinear Simultaneous Equations Model]***by*Amemiya, Takeshi**1329-33 Multiple Shooting in Rational Expectations Models [The Solution of Linear Difference Models under Rational Expectations]***by*Lipton, David, et al**1335-36 Stability of Aggregation Procedures, Ultrafilters, and Simple Games-A Comment***by*Muller, Eitan**1337-39 On the Distance between Income Distributions [Inequality Measures between Income Distributions with Applications]***by*Shorrocks, Anthony F

### 1982, Volume 50, Issue 4

**825-62 Inflation, Tax Rules and Investment: Some Econometric Evidence***by*Feldstein, Martin**863-94 Sequential Equilibria***by*Kreps, David M & Wilson, Robert**895-909 The Determination of Marginal Cost Prices under a Set of Axioms***by*Samet, Dov & Tauman, Yair**911-30 Regulating a Monopolist with Unknown Costs***by*Baron, David P & Myerson, Roger B**931-43 Acyclic Collective Choice Rules***by*Blair, Douglas H & Pollak, Robert A**945-73 The Nonparametric Approach to Demand Analysis***by*Varian, Hal R**975-85 On the Transversality Condition in Infinite Horizon Optimal Problems***by*Michel, Philippe**987-1007 Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation***by*Engle, Robert F**1009-27 Evaluation of the Distribution Function of the Limited Information Maximum Likelihood Estimator***by*Anderson, T W & Kunitomo, Naoto & Sawa, Takamitsu**1029-54 Large Sample Properties of Generalized Method of Moments Estimators***by*Hansen, Lars Peter**1055-63 An Investigation of the Robustness of the Tobit Estimator to Non-Normality***by*Arabmazar, Abbas & Schmidt, Peter**1065-67 Note on Estimating Linear Trend When Residuals are Autocorrelated***by*Kramer, Walter**1069-79 A Stronger Characterization of Declining Risk Aversion***by*Machina, Mark J**1081-83 Sufficient Conditions for Extracting Least Cost Resource First***by*Lewis, Tracy R

### 1982, Volume 50, Issue 3

**537-67 Asset Valuation in an Experimental Market***by*Forsythe, Robert & Palfrey, Thomas R & Plott, Charles R**569-81 The General Equivalence of Granger and Sims Causality***by*Chamberlain, Gary**583-91 A Note on Noncausality***by*Florens, J P & Mouchart, M**593-606 Pairwise, t-Wise, and Pareto Optimalities***by*Goldman, Steven M & Starr, Ross M**607-37 A Theory of Disagreement in Bargaining***by*Crawford, Vincent P**639-47 Risk Aversion and Nash's Solution for Bargaining Games with Risky Outcomes***by*Roth, Alvin E & Rothblum, Uriel G**649-70 Selection and the Evolution of Industry***by*Jovanovic, Boyan**671-88 A Dynamic Game of R and D: Patent Protection and Competitive Behavior***by*Reinganum, Jennifer F**689-711 Two Stage Least Absolute Deviations Estimators***by*Amemiya, Takeshi**713-24 A Class of Decompositions of the Variance-Covariance Matrix of a Generalized Error Components Model***by*Wansbeek, Tom & Kapteyn, Arie**725-36 Sets of Posterior Means with Bounded Variance Priors***by*Leamer, Edward E**737-48 Conflict among the Criteria Revisited: The W, LR and LM Tests***by*Evans, G B A & Savin, N E**749-59 A Remark on Hausman's Specification Test***by*Holly, Alberto**761-64 A Computationally Efficient Quadrature Procedure for the One-Factor Multinomial Probit Model***by*Butler, J S & Moffitt, Robert**765-68 On the Estimation of Structural Hedonic Price Models***by*Brown, James N & Rosen, Harvey S**769-74 Exploitation of Many Deposits of an Exhaustible Resource: Comment***by*Drury, Robert C**775-76 Efficiency of Non-Walrasian Equilibria: A Note***by*Madden, Paul**777-79 Revealed Preference: An Elementary Treatment***by*Sondermann, Dieter**781-83 Stability, Disequilibrium Awareness, and the Perception of New Opportunities: Some Corrections***by*Fisher, Franklin M & Saldanha, Fernando M C B

### 1982, Volume 50, Issue 2

**277-323 "Expected Utility" Analysis without the Independence Axiom***by*Machina, Mark J**325-44 Strategic Behavior in Decentralized Planning Procedures***by*Champsaur, Paul & Laroque, Guy**345-76 Inventory Stability and Resource Allocation under Uncertainty in a Command Economy***by*Ericson, Richard E**377-408 Invariant Distributions and the Limiting Behavior of Markovian Economic Models***by*Futia, Carl A**409-25 Rational Expectations in Dynamic Linear Models: Analysis of the Solutions***by*Gourieroux, C & Laffont, J J & Monfort, Alain**427-42 A Support Price Theorem for the Continuous Time Model of Capital Accumulation***by*Takekuma, Shin-Ichi**443-59 Limit Pricing and Entry under Incomplete Information: An Equilibrium Analysis***by*Milgrom, Paul & Roberts, John**461-81 The Sensitivity of Consumption to Transitory Income: Estimates from Panel Data on Households***by*Hall, Robert E & Mishkin, Frederic S**483-99 Instrumental Variables Regression with Independent Observations***by*White, Halbert**501-16 An Improved Version of the Quandt-Ramsey MGE Estimator for Mixtures of Normal Distributions and Switching Regressions***by*Schmidt, Peter**517-24 A Note on Measuring Immobility***by*Conlisk, John**525 Welfare Consequences of Spatial Competition: A Note [Pricing under Spatial Competition and Spatial Monopoly]***by*Ohta, H**527-28 Dominance Solvable Voting Schemes: A Comment***by*Gretlein, Rodney, J

### 1982, Volume 50, Issue 1

**1-25 Maximum Likelihood Estimation of Misspecified Models***by*White, Halbert**27-41 On the Asymptotic Properties of Estimators of Models Containing Limited Dependent Variables***by*Robinson, Peter M**43-61 Robust Tests for Heteroscedasticity Based on Regression Quantiles***by*Koenker, Roger & Bassett, Gilbert, Jr**63-80 Likelihood Ratio Test, Wald Test, and Kuhn-Tucker Test in Linear Models with Inequality Constraints on the Regression Parameters***by*Gourieroux, Christian & Holly, Alberto & Monfort, Alain**81-95 An Algorithm for FIML and 3SLS Estimation of Large Nonlinear Models***by*Parke, William R**97-109 Perfect Equilibrium in a Bargaining Model***by*Rubinstein, Ariel**111-26 Price-Quantity Strategic Market Games***by*Dubey, Pradeep**127-36 A Market Value Approach to Approximate Equilibria***by*Anderson, Robert M**137-43 Decentralization and Epsilon-Rational Competitive Equilibria***by*Goldman, Steven M & Kletzer, Kenneth M**145-62 Voting with Proportional Veto Power***by*Moulin, H**163-92 Origins of Exploitation and Class: Value Theory of Pre-Capitalist Economy***by*Roemer, John E**193-211 Inequality Decomposition by Factor Components***by*Shorrocks, A F**213-24 Tobin's Marginal q and Average q: A Neoclassical Interpretation***by*Hayashi, Fumio**225-27 Theoretical Restrictions on the Parameters of Indirect Addilog Demand Equations-A Comment***by*Murty, K N**229-33 A Note on Seemingly Unrelated Regressions***by*Conniffe, Denis

### 1981, Volume 49, Issue 6

**1363-75 Econometrics Faced with the Needs of Macroeconomic Policy***by*Malinvaud, Edmond**1377-98 Panel Data and Unobservable Individual Effects***by*Hausman, Jerry A & Taylor, William E**1399-1416 Random Effects, Fixed Effects, Convolution, and Separation***by*Mundlak, Yair & Yahav, Joseph A**1417-26 Biases in Dynamic Models with Fixed Effects***by*Nickell, Stephen J**1427-42 The Approximate Slopes of Econometric Tests***by*Geweke, John**1443-55 On the Invariance of the Lagrange Multiplier Test with Respect to Certain Changes in the Alternative Hypothesis***by*Godfrey, L G**1457-68 Core Theory with Strongly Convex Preferences***by*Anderson, Robert M**1469-75 Pareto Superiority of Unegalitarian Equilibria in Stiglitz' Model of Wealth Distribution with Convex Saving Function***by*Bourguignon, Francois**1477-99 Allocation Mechanisms and the Design of Auctions***by*Harris, Milton & Raviv, Artur**1501-20 The Comparative Statics of Hedonic Price Functions and Other Nonlinear Constraints***by*Edlefsen, Lee E**1521-32 Functional Forms for Labor Supply and Commodity Demands with and without Quantity Restrictions***by*Deaton, Angus & Meullbauer, John**1533-51 Demographic Variables in Demand Analysis***by*Pollak, Robert A & Wales, Terence J**1553-58 Second Thoughts on Wald's Cost-of-Living Index and Frisch's Double Expenditure Method***by*Balk, Bert M**1559-70 Optimal Spending and Money Holdings in the Presence of Liquidity Constraints***by*Helpman, Elhanan**1571-81 The Durbin-Watson Test for Serial Correlation: Bounds for Regressions with Trend and/or Seasonal Dummy Variables***by*King, Maxwell L**1583-88 On the Relationships among Several Specification Error Tests Presented by Durbin, Wu, and Hausman***by*Nakamura, Alice & Nakamura, Masao**1589-91 A Note on the Consistency of the GLS Estimator in Triangular Structural Systems***by*Cotterman, Robert F**1593-95 A Note on the Variance of Ex-Post Forecasts in Econometric Models***by*Calzolari, Giorgio**1597-1603 A Random Voting Graph Almost Surely Has a Hamiltonian Cycle When the Number of Alternatives Is Large***by*Bell, Colin E**1605-13 A Condition Guaranteeing the Optimality of Public Choice***by*Rob, Rafael

### 1981, Volume 49, Issue 5

**1095-1125 Short-Run Production Functions Based on Microdata***by*Hildenbrand, Werner**1127-48 Monitoring Cooperative Agreements in a Repeated Principal-Agent Relationship***by*Radner, Roy**1149-72 Nash Equilibrium and the Industrial Organization of Markets with Large Fixed Costs***by*Grossman, Sanford J**1173-99 Generic Existence of Completely Revealing Equilibria for Economies with Uncertainty when Prices Convey Information***by*Allen, Beth E**1201-21 Competitive Price Adjustment without Market Clearing***by*Zabel, Edward**1223-24 Necessary and Sufficient Conditions for d-Relative Majority Voting Equilibria [Consistent Majority Rules over Compact Sets of Alternatives]***by*Coughlin, Peter J**1225-44 The Measurement of Deadweight Loss Revisited***by*Diewert, W E**1245-60 Optimal Taxes and the Structure of Preferences***by*Deaton, Angus**1261-88 Funding Criteria for Research, Development, and Exploration Projects***by*Roberts, Kevin & Weitzman, Martin L**1289-1316 Maximum Likelihood Estimator for Choice-Based Samples***by*Cosslett, Stephen R**1317-29 A Test for Misspecification in the Censored Normal Model***by*Nelson, Forrest D**1331-37 Prediction from the Dynamic Simultaneous Equation Model with Vector Autoregressive Errors***by*Baillie, Richard T**1339-43 Further Results on the Value of Sample Separation Information [Discrete Parameter Variation: Efficient Estimation of a Switching Regression Model]***by*Schmidt, Peter**1345-47 On Path Independent Randomized Choice: Comment***by*Machina, Mark J & Parks, Robert P**1349-59 The Impact of Schooling on Wages***by*MacDonald, Glenn M

### 1981, Volume 49, Issue 4

**819-41 The Classical Theorem on Existence of Competitive Equilibrium***by*McKenzie, Lionel W**843-67 Intergenerational Transfers and the Distribution of Earnings***by*Loury, Glenn C**869-81 Equity Oriented Fiscal Programs***by*Fei, John C H**883-97 Utilitarianism, Egalitarianism, and the Timing Effect in Social Choice Problems***by*Myerson, Roger B**899-909 k-Monotone Social Decision Functions and the Veto***by*Deb, Rajat**911-20 Risk Aversion with Random Initial Wealth***by*Kihlstrom, Richard E & Romer, David & Williams, Steve**921-43 Rational Expectations, Information Acquisition, and Competitive Bidding***by*Milgrom, Paul R**945-63 Fixed Costs and Labor Supply***by*Cogan, John F**965-79 Individual Effects in a Nonlinear Model: Explicit Treatment of Heterogeneity in the Empirical Job-Search Model***by*Kiefer, Nicholas M & Neumann, George R**981-1006 A Disaggregate Model of the Demand for Intercity Freight Transportation***by*Winston, Clifford**1007-33 Stochastic Properties of Fast vs. Slow Growing Economies***by*Danthine, Jean-Pierre & Donaldson, John B**1035-55 Exact Density Functions and Approximate Critical Regions for Likelihood Ratio Identifiability Test Statistics***by*Rhodes, George F, Jr**1057-72 Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root***by*Dickey, David A & Fuller, Wayne A**1073-78 Lagged Endogenous Variables and the Cochrane-Orcutt Procedure***by*Betancourt, Roger & Kelejian, Harry**1079-85 A Limited Information Specification Test [Specification Tests in Econometrics]***by*Spencer, David E & Berk, Kenneth N**1087-88 A Note on the Turnpike Properties of Time Dependent Supergames [Non-Cooperative Equilibria in Time Dependent Supergames]***by*Friedman, James W

### 1981, Volume 49, Issue 3

**555-74 The Present-Value Relation: Tests Based on Implied Variance Bounds***by*LeRoy, Stephen F & Porter, Richard D**575-96 Futures Trading, Rational Expectations, and the Efficient Markets Hypothesis***by*Bray, Margaret M**597-619 Distortion of Utilities and the Bargaining Problem***by*Sobel, Joel**621-38 Some Stronger Measures of Risk Aversion in the Small and the Large with Applications***by*Ross, Stephen A**639-54 Diversified Consumption Characteristics and Conditionally Dispersed Endowment Distribution: Regularizing Effect and Existence of Equilibria***by*Yamazaki, Akira**655-78 Generalized Duality and Integrability***by*Epstein, Larry G**679-711 Infinite Horizon Programs***by*Magill, Michael J P**713-40 A Critique of Tiebout's Theory of Local Public Expenditures***by*Bewley, Truman F**741-51 Spurious Periodicity in Inappropriately Detrended Time Series***by*Nelson, Charles R & Kang, Heejoon**753-79 Testing for Unit Roots: 1***by*Evans, G B A & Savin, N E**781-93 Several Tests for Model Specification in the Presence of Alternative Hypotheses***by*Davidson, Russell & MacKinnon, James G**795-98 Sample Selection Bias as a Specification Error: Comment***by*Greene, William H

### 1981, Volume 49, Issue 2

**279-317 Stability, Disequilibrium Awareness, and the Perception of New Opportunities***by*Fisher, Franklin M**319-33 The Stability of Steady States in Perfect Foresight Models***by*Laitner, John P**335-58 Value of Information with Sequential Futures Markets***by*Green, Jerry R**359-68 Myopic Economic Agents***by*Brown, Donald J & Lewis, Lucinda M**369-77 A Social Coalitional Equilibrium Existence Lemma***by*Ichiishi, Tatsuro**379-94 Consumer Surplus When Preferences are Intransitive: Analysis and Interpretation***by*Fountain, John**395-423 Production Sets with Indivisibilities-Part II: The Case of Two Activities***by*Scarf, Herbert E**425-35 Durability and Taxes: Market Structure and Quasi-Capital Market Distortion***by*Swan, Peter L**437-50 Job Matching with Heterogeneous Firms and Workers***by*Crawford, Vincent P & Knoer, Elsie Marie**451-89 A Comparison of the Labor Force Behavior of Married Women in the United States and Canada, with Special Attention to the Impact of Income Taxes***by*Nakamura, Alice & Nakamura, Masao**491-504 What Do Economists Know? An Empirical Study of Experts' Expectations***by*Brown, Bryan W & Maital, Shlomo**505-13 On the Asymptotic Bias of the Ordinary Least Squares Estimator of the Tobit Model***by*Greene, William H**515-16 Contemporaneous Correlation in Wage Contract Studies***by*Riddell, W Craig**517-18 Estimation of Time-Independent Markov Processes with Aggregate Data: A Comparison of Techniques***by*Kelton, Christina M L**519-23 Une Solution Pour R.A.S***by*Bidard, C**525-26 Note on a New Measure of Poverty***by*Kakwani, Nanak**527-34 Stability of Aggregation Procedures, Ultrafilters, and Simple Games***by*Batteau, Pierre & Blin, Jean-Marie & Monjardet, Bernard**535-38 Nash's Bargaining Solution and Utilitarian Choice Rules***by*Thomson, William

### 1981, Volume 49, Issue 1

**1-32 Production Sets with Indivisibilities-Part I: Generalities***by*Scarf, Herbert E**33-64 Resource Allocation under Asymmetric Information***by*Harris Milton & Townsend, Robert M**65-71 A Simple Incentive Compatible Scheme for Attaining Lindahl Allocations***by*Walker, Mark**73-83 What Is the Normal Rate of Convergence of the Core? (Part I)***by*Cheng, Hsueh-Cheng**85-104 Resource Depletion under Technological Uncertainty***by*Dasgupta, Partha & Stiglitz, Joseph**105-30 Applied Welfare Economics with Discrete Choice Models***by*Small, Kenneth A & Rosen, Harvey S**131-51 Efficiency and Speculation in a Model with Price-Contingent Contracts***by*Svensson, Lars E O**153-70 Criteres Simples Pour La Prise En Compte Du Risque. (With English summary.)***by*Henry, Claude**171-92 Rational Expectations in Stationary Linear Models***by*Futia, Carl A**193-204 Sets of Estimates of Location***by*Leamer, Edward E**205-07 OLS Estimation in a Model Where a Microvariable Is Explained by Aggregates and Contemporaneous Disturbances Are Equicorrelated***by*Kloek, T**209-13 The Determinateness Test and Economic Price Indices***by*Fare, Rolf & Lyon, Vern**215-18 The Existence of Expected Utility Maximizing Decisions When Utility Is Unbounded***by*Kennan, John**219-22 An Axiomatic Characterization of Common Knowledge***by*Milgrom, Paul

### 1980, Volume 48, Issue 7

**1585-93 Walrasian Analysis via Strategic Outcome Functions***by*Schmeidler, David**1595-1615 Computation of Competitive Equilibria by a Sequence of Linear Programs***by*Manne, Alan S & Chao, Hung-po & Wilson, Robert**1617-34 The Prisoner's Dilemma and Dynamical Systems Associated to Non-Cooperative Games***by*Smale, Steve**1635-65 Equilibrium Contracts for Syndicates with Differential Information***by*Kobayashi, Takao**1667-74 Global Strong Le Chatelier-Samuelson Principle***by*Fujimoto, Takao**1675-1702 On the General Structure of Ricardian Models with a Continuum of Goods: Applications to Growth, Tariff Theory, and Technical Change***by*Wilson, Charles A**1703-10 On the Uniqueness of Mean Demand for Dispersed Families of Preferences***by*Hildenbrand, Werner**1711-25 Parallel Preference Structures in Labor Supply and Commodity Demand: An Adaptation of the Gorman Polar Form***by*Dickinson, Jonathan G**1727-44 The Comparative Statics of Quantity Constraints and Conditional Demands: Theory and Applications***by*Mackay, Robert J & Whitney, Gerald A**1745-53 Congestion of Production Factors***by*Fare, Rolf & Svensson, Leif**1755-62 Intertemporal Duality: Application to the Theory of the Firm***by*McLaren, Keith R & Cooper, Russel J