# Econometric Society

# Econometrica

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### 1977, Volume 45, Issue 5

**1243-55 Estimation of Simultaneous Equation Models with Measurement Error***by*Geraci, Vincent J**1257-62 Bounds for the Bias of the Least Squares Estimator of s2 in the Case of a First-order Autoregressive Process (Positive Autocorrelation)***by*Neudecker, Heinz**1263-77 Conflict among Criteria for Testing Hypotheses in the Multivariate Linear Regression Model***by*Berndt, Ernst R & Savin, N Eugene**1279-88 Application of Pre-Test and Stein Estimators to Economic Data***by*Aigner, Dennis J & Judge, George G**1289-90 A Comment on Consumption Decisions under Uncertainty***by*Ahsan, Syed M**1291-92 Tests of Equality between Sets of Coefficients in Two Linear Regressions when Disturbance Variances Are Unequal***by*Jayatissa, W A**1293-98 Some Further Evidence on the Use of the Chow Test under Heteroskedasticity***by*Schmidt, Peter & Sickles, Robin

### 1977, Volume 45, Issue 4

**783-809 Optimal Allocation of Public Goods: A Solution to the "Free Rider" Problem***by*Groves, Theodore & Ledyard, John O**811-20 Necessary and Sufficient Conditions for a Pareto Optimum in Convex Programming***by*Ben-Israel, A & Ben-Tal, A & Charnes, A**821-42 Economic Environments for Which There Are Pareto Satisfactory Mechanisms***by*Mount, Kenneth & Reiter, Stanley**843-52 A Two-Person Exchange Model***by*Lee, King-Tak**853-70 Maximin Paths of Heterogeneous Capital Accumulation and the Instability of Paradoxical Steady States***by*Burmeister, Edwin & Hammond, P J**871-79 Social Decision Functions and the Veto***by*Blau, Julian H & Deb, Rajat**881-88 On Preferences, Beliefs, and Manipulation within Voting Situations***by*Blin, Jean-Marie & Satterthwaite, Mark A**889-94 The Existence of Choice Functions***by*Mukherji, Anjan**895-903 A Matrix Measure of Multivariate Local Risk Aversion***by*Duncan, George T**905-17 Linear Quadratic Control Theory for Models with Long Lags***by*Norman, Alfred Lorn & Jung, Woo Sik**919-38 Social Experimentation, Truncated Distributions, and Efficient Estimation***by*Hausman, Jerry A & Wise, David A**939-53 Some Properties of a Modification of the Limited Information Estimator***by*Fuller, Wayne A**955-68 The Maximum Likelihood and the Nonlinear Three-Stage Least Squares Estimator in the General Nonlinear Simultaneous Equation Model***by*Amemiya, Takeshi**969-90 The Properties of Autoregressive Instrumental Variables Estimators in Dynamic Systems***by*Hendry, David F & Srba, Frank**991-95 Singular Dynamic Leontief Systems***by*Luenberger, David G & Arbel, Ami**997-1005 Some Small Evidence on the Distribution of Dynamic Simulation Forecasts***by*Schmidt, Peter**1007-12 Spectral Utility Functions and the Design of a Stationary System***by*Bowden, Roger J**1013-21 A Stochastic Optimal Control Technique for Models with Estimated Coefficients***by*Craine, Roger & Havenner, Arthur**1023-26 A Note on Wallis' Bounds Test and Negative Autocorrelation***by*King, M L & Giles, D E A**1027-31 A Comment on the Test of Overidentifying Restrictions***by*Kadane, Joseph B & Anderson, T W**1033-38 A Note on Consumer's Surplus, the Divisia Index, and the Measurement of Welfare Changes***by*Bruce, Neil

### 1977, Volume 45, Issue 3

**535-72 Temporary General Equilibrium Theory***by*Grandmont, Jean-Michel**573-90 Non-Walrasian Equilibria***by*Varian, Hal R**591-99 Some Generic Properties of Aggregate Excess Demand and an Application***by*Mas-Colell, Andreu & Neuefeind, Wilhelm**601-20 Smoothness, Comparative Dynamics, and the Turnpike Property***by*Araujo, A & Scheinkman, Jose A**621-40 Risk Invariance and Ordinally Additive Utility Functions***by*Willig, Robert D**641-55 Deductibles and the Demand for Medical Care Services: The Theory of a Consumer Facing a Variable Price Schedule under Uncertainty***by*Keeler, Emmett B & Newhouse, Joseph P & Phelps, C E**657-64 The Shapley Value as a von Neumann-Morgenstern Utility***by*Roth, Alvin E**665-81 Manipulation of Schemes That Mix Voting with Chance***by*Gibbard, Allan**683-701 A Comparison of Automobile Demand Equations***by*Hess, Alan C**703-17 Durability of Capital Goods: Taxes and Market Structure***by*Raviv, Artur & Zemel, Eitan**719-27 Applications of Lorenz Curves in Economic Analysis***by*Kakwani, Nanak C**729-35 Homogeneous Programming: Saddlepoint and Perturbation Function***by*LeBlanc, Gerald**737-44 A Note on Trend Removal Methods: The Case of Polynomial Regression versus Variate Differencing***by*Chan, K Hung & Hayya, Jack C & Ord, J Keith**745-53 The Robustness of Some Standard Tests for Autocorrelation and Heteroskedasticity When Both Problems Are Present***by*Epps, Thomas W & Epps, Mary Lee**755-57 Pooling as a Specification Error: A Comment***by*Ghali, Moheb A**759-63 The K-Class Estimators as Least Variance Difference Estimators***by*McDonald, James B**765-68 Equilibrium in the Market for Land: Obtaining Spatial Distributions by Change of Variable--A Comment***by*Lee, Russell**769-71 A Note on Gross Substitutability of Financial Assets***by*Blanchard, Olivier J & Plantes, Mary Kay**773 An Algorithm for Implementing Fisher's Tests***by*Steuert, James

### 1977, Volume 45, Issue 2

**273-94 Stability Theorems with Economic Applications***by*Champsaur, Paul & Dreze, Jacques H & Henry, Claude**295-316 A Renewal Model of Economic Growth: The Continuous Case***by*Chipman, John S**317-27 Optimal Maximin Accumulation with Uncertain Future Technology***by*Calvo, Guillermo A**329-40 Optimal Tax-Subsidy System for an Economy with Marshallian Externalities***by*Osana, Hiroaki**341-60 Coalition Structure in a Labor-Managed Market Economy***by*Ichiishi, Tatsuro**361-74 The Formation of Small Market Places in a Competitive Economic Process-The Dynamics of Agglomeration***by*Baesemann, Robert C**375-98 Frank Knight's Theorem in Linear Programming Revisited***by*Diewert, W E & Woodland, A D**399-412 Rationing, Quantity Constraints, and Consumption Theory***by*Howard, David H**413-26 Risk Aversion and Consumer Preferences***by*Hanoch, Giora**427-38 Characterization of Satisfactory Mechanisms for the Revelation of Preferences for Public Goods***by*Green, Jerry & Laffont, Jean-Jacques**439-46 Strategy-Proofness and Social Choice Functions without Singlevaluedness***by*Kelly, Jerry S**447-61 The Demand for Housing: A Study in Specification and Grouping***by*Polinsky, A Mitchell**463-85 Approximations to Some Finite Sample Distributions Associated with a First-Order Stochastic Difference Equation***by*Phillips, Peter C B**487-96 Finite Sample Properties of Instrumental Variable Estimators of Structural Coefficients***by*Mariano, Roberto S**497-508 Small Sample Properties of a Class of Two Stage Aitken Estimators***by*Taylor, William E**509-18 Asymptotic Expansions of the Distributions of Estimates in Simultaneous Equations for Alternative Parameter Sequences***by*Anderson, T W**519-26 External Diseconomies in Consumption and Monopoly Pricing: A Comment***by*Lesourne, Jacques**527-30 Ta-Chung Liu, 1914-1975***by*Klein, Lawrence R & Nerlove, Marc & Tsiang, S C

### 1977, Volume 45, Issue 1

**1-22 Estimating the Returns to Schooling: Some Econometric Problems***by*Griliches, Zvi**23-51 The Systems of Consumer Demand Functions Approach: A Review***by*Barten, Anton P**53-89 Social Choice Theory: A Re-examination***by*Sen, Amartya K**91-100 Kernels of Preference Structures***by*White, D J**101-13 On the Foundations of the Theory of Monopolistic Competition***by*Roberts, John & Sonnenschein, Hugo**115-32 Estimation of the Allocation of Time for Work, Leisure, and Housework***by*Wales, Terence J & Woodland, A D**133-46 Ray-Homothetic Production Functions***by*Fare, Rolf & Shephard, Ronald W**147-62 The Production Structure of the Korean Economy: International and Historical Comparisons***by*Song, Byung Nak**163-73 A Note on New Goods and Quality Changes in the True Cost of Living Index in View of Lancaster's Model of Consumer Behavior***by*Klevmarken, N Anders**175-81 Non-Price Rationing of Intermediate Goods in Centrally Planned Economies: A Comment***by*Murrell, Peter & Green, Donald W**183-98 Estimation of Time-Varying Markov Processes with Aggregate Data***by*MacRae, Elizabeth Chase**199-209 Error Components and Seemingly Unrelated Regressions***by*Avery, Robert B**211-17 Specification of the Disturbance for Efficient Estimation-An Extended Analysis***by*Nicholls, D F & Pagan, A R**219-28 Market Organization and the Durability of Durable Goods***by*Auernheimer, Leonardo & Saving, Thomas R**229-35 Product Durability under Monopoly and Competition: Comment***by*Swan, Peter L

### 1976, Volume 44, Issue 6

**1091-1123 Keynes and Econometrics: On the Interaction between the Macroeconomic Revolutions of the Interwar Period***by*Patinkin, Don**1125-39 Some Theory of Labor Management and Participation***by*Dreze, Jacques H**1141-52 An Interactive Market-Planning Procedure***by*Welch, Robert L**1153-55 Pricing in a Dynamic Model with Saturation***by*Landau, H J**1157-78 Dynamics of Temporary Equilibria and Expectations***by*Fuchs, Gerard & Laroque, Guy**1179-1200 Capital Aggregation in a General Equilibrium Model of Production***by*Brown, Murray & Chang, Winston W**1201-22 The Income Tax and Charitable Contributions***by*Feldstein, Martin S & Taylor, Amy**1223-38 Estimation of the Earnings Profile from Optimal Human Capital Accumulation***by*Haley, William J**1239-51 Social Welfare and Income Distribution***by*Sadka, Efraim**1253-57 The Welfare Loss from Price Distortions***by*Rader, J Trout, III**1259-76 An Econometric Evaluation of a Generalized Consumer Surplus Measure: The Mineral King Controversy***by*Cicchetti, Charles J & Fisher, Anthony C & Smith, V Kerry**1277-87 On the Insensitivity of the Autoregressive Moving Average Representations of Some Australian Qtrly Time Series***by*McDonald, John**1289-1302 Some Experimental Results on the Statistical Properties of Least Squares Estimates in Control Problems***by*Anderson, T W & Taylor, John B**1303-15 Conflict among Testing Procedures in a Linear Regression Model with Autoregressive Disturbances***by*Savin, N Eugene**1317-21 A Note on Bias in the Almon Distributed Lag Estimator***by*Terasvirta, Timo**1323-24 The Malinvaud Eigenvalue Lemma: Correction and Amplification***by*Gale, David & Rockwell, Richard**1325-26 An Algorithm for Determining the Distribution Function of the Durbin-Watson Test Statistic***by*L'Esperance, Wilford L & Chall, Daniel & Taylor, Daniel

### 1976, Volume 44, Issue 5

**841-65 Turnpike Theory***by*McKenzie, Lionel W**867-78 Optimal Growth in a Putty-Clay Model***by*Calvo, Guillermo A**879-905 The Specification of Adaptive Expectations in Continuous Time Dynamic Economic Models***by*Burmeister, Edwin & Turnovsky, Stephen J**907-38 A Non-Tatonnement Model with Production and Consumption***by*Fisher, Franklin M**939-46 Limit Pricing, Uncertain Entry, and the Entry Lag***by*De Bondt, Raymond R**947-61 Input-Output Analysis with Scale-Dependent Coefficients***by*Lahiri, Sajal**963-70 A Function for Size Distribution of Incomes***by*Singh, S K & Maddala, G S**971-78 The Demand Theory of the Weak Axiom of Revealed Preference***by*Kihlstrom, Richard E & Mas-Colell, Andreu & Sonnenschein, Hugo**979-99 Community Preferences and the Representative Consumer***by*Muellbauer, John**1001-15 Irrelevant Alternatives and Social Welfare***by*Osborne, Dale K**1017-32 Self-Dual Preferences***by*Sato, Ryuzo**1033-43 Representable Choice Functions***by*Fishburn, Peter C**1045-75 Bayesian Limited Information Analysis of the Simultaneous Equations Model***by*Dreze, Jacques H**1077-84 Testing for Serial Correlation in Dynamic Simultaneous Equation Models***by*Godfrey, L G**1085 Estimation and Prediction from Aggregate Data When Aggregates Are Measured More Accurately Than Their Components: Comment***by*Greene, William H**1087-89 Decentralized Nonmonetary Trade***by*Starr, Ross M

### 1976, Volume 44, Issue 4

**631-50 Personal Taxation and Portfolio Composition: An Econometric Analysis***by*Feldstein, Martin S**651-69 An Indirect Test of Complementarity in a Family Labor Supply Model***by*Kniesner, Thomas J**671-84 Compensation of Cooperating Factors***by*Deardorff, Alan V & Stafford, Frank P**685-95 The Control of Nonlinear Econometric Systems with Unknown Parameters***by*Chow, Gregory C**713-23 The Identification and Parameterization of ARMAX and State Space Forms***by*Hannan, E J**725-39 Prior Information on the Coefficients When the Disturbance Covariance Matrix is Unknown***by*Taylor, William E**741-50 An Indirect Least Squares Estimator for Overidentified Equations***by*Khazzoom, J Daniel**751-64 The Estimation of Linear Differential Equations with Constant Coefficients***by*Robinson, P M**765-76 Instrumental Variables Estimation of Differential Equations***by*Robinson, P M**777-86 Optimum Trade Restrictions and Their Consequences***by*Thurow, Lester C & White, Halbert**787-91 A Theorem on Decentralized Exchange***by*Madden, Paul J**793-804 Equity, Arrow's Conditions, and Rawls' Difference Principle***by*Hammond, Peter J**805-09 Linear Measures of Income Inequality***by*Mehran, Farhad**811-14 Conventional Returns to Scale and Financing Pollution Control***by*Greenwald, Bruce**815-18 A Note on Identification and Information Loss Through Aggregation***by*Hester, Donald D**819-21 The Relative Factor Intensities of Investment-and Consumer-Goods Industries: A Note***by*Sutton, John**823-24 The Effect of Transformations on Lorenz Curves***by*Fellman, J**825-28 A Slutsky Equation for Demand Correspondences***by*Ellis, Dennis F**829-30 Existence of Approximate Cores with Incomplete Preferences***by*Grodal, Birgit**831-32 Smooth Preferences: A Corrigendum***by*Debreu, Gerard**833 Small Computer Programs for OLS and Principal Components Regression Calculations***by*Nash, J C**835 A Program for Econometric and Spectral Analysis-EAS***by*Just, Richard E & Fletcher, Stanley M**836 Computer Algorithm: Derived Reduced Form Coefficient Covariances***by*Havenner, Arthur M

### 1976, Volume 44, Issue 3

**421-48 Econometric Estimators and the Edgeworth Approximation***by*Sargan, J D**449-60 The Iterated Minimum Distance Estimator and the Quasi-Maximum Likelihood Estimator***by*Phillips, P C B**461-65 Estimating Regression Models with Multiplicative Heteroscedasticity***by*Harvey, A C**467-73 Point Estimation in Multiplicative Models***by*Evans, I G & Shaban, S A**475-77 A Remark on the Wu Test***by*Farebrother, R W**479-83 The Interpolation of the Lorenz Curve and Gini Index from Grouped Data***by*Gastwirth, Joseph L & Glauberman, Marcia**485-507 Taxes in a Labor Supply Model with Joint Wage-Hours Determination***by*Rosen, Harvey S**509-35 Extensions of the Le Chatelier-Samuelson Principle and Their Applications to Analytical Economics-Constraints and Economic Analysis***by*Kusumoto, Sho-Ichiro**537-46 Existence of a Competitive Equilibrium in a Nonstandard Exchange Economy***by*Brown, Donald J**547-59 Solutions of General Equilibrium Problems for a Trading World***by*Helpman, Elhanan**561-73 A Small Open Economy with More Produced Commodities Than Factors***by*Mayer, Wolfgang**575-91 Stability Conditions for Linear Constant Coefficient Difference Equations in Generalized Differenced Form***by*Folsom, Roger Nils & Boger, Dan C & Mullikin, Harry C**593-95 Multiplier Effects for Higher Than First Order Linear Dynamic Econometric Models***by*Brissimis, Sophocles N**597-600 Distributed Lags, Morishima Matrices, and the Stability of Economic Models***by*Tarr, David G**601-02 Stability of Monopoly***by*Allingham, Michael G**603 Neutrality, Monotonicity, and the Right of Veto: A Comment***by*Blau, Julian H**605-08 Aspects of Partial Decisionmaking-Kernels of Quasi-Ordered Sets***by*Hartley, Roger**609-10 A Note on the Derivation of Theil's BLUS Residuals***by*Chow, Gregory C**611-14 Norm Minimizing Estimation and Unbiasedness***by*Hogan, William W**615-16 Constraints Often Overlooked in Analyses of Simultaneous Equation Models: Comment***by*Maddala, G S**617-18 Constraints Often Overlooked in Analyses of Simultaneous Equation Models: Comment***by*Engle, Robert F**619-24 Constraints Often Overlooked in Analyses of Simultaneous Equation Models: Reply***by*Zellner, Arnold**625 Constraints Often Overlooked in Analyses of Simultaneous Equation Models: Rejoinder***by*Maddala, G S**627-28 Constraints Often Overlooked in Analyses of Simultaneous Equation Models: Further Reply***by*Zellner, Arnold

### 1976, Volume 44, Issue 2

**219-31 Poverty: An Ordinal Approach to Measurement***by*Sen, Amartya K**233-40 Collective Choice Correspondences as Admissible Outcomes of Social Bargaining Processes***by*Kalai, Ehud & Pazner, Elisha A & Schmeidler, David**241-46 A Problem on Rankings by Committees***by*Moon, J W**247-56 Fisher's Tests Revisited***by*Eichhorn, W**257-63 An Approximate Divisia Index of Total Factor Productivity***by*Star, Spencer & Hall, Robert E**283-94 Existence d'un Equilibre General de Concurrence Imparfaite: Une Introduction. (Existence of a General Equilibrium with Imperfect Competition: An Introduction. With English summary.)***by*Laffont, Jean-Jacques & Laroque, Guy**295-303 Analysis of Models for Commercial Fishing: Mathematical and Economical Aspects***by*Leung, Anthony & Wang, Ar-Young**305-21 The Stochastic Dependence of Security Price Changes and Transaction Volumes: Implications for the Mixture-of-Distributions Hypothesis***by*Epps, Thomas W & Epps, Mary Lee**323-36 On the Properties of Linear Decision Rules and Their Derivation by an Iterative Procedure***by*Nickell, Stephen J & Tymes, Jan**337-43 Discriminating among Linear Models with Interdependent Disturbances***by*Gaver, Kenneth M & Geisel, Martin S**345-51 Weak Priors and Sharp Posteriors in Simultaneous Equation Models***by*Maddala, G S**353-63 The Variances of Regression Coefficient Estimates Using Aggregate Data***by*Welsch, Roy E & Kuh, Edwin**365-75 Optimal Critical Values for Pre-Testing in Regression***by*Toyoda, Toshihsa & Wallace, T D**377-85 Demand and Supply Functions for Money: Another Look at Theory and Measurement***by*Teigen, Ronald L**387-89 Demand and Supply Functions for Money: A Comment***by*Gibson, William E**391-99 The Distributional Implications of Public Goods***by*Brennan, Geoffrey**401-04 Reply to Geoffrey Brennan, "The Distributional Implications of Public Goods."***by*Aaron, Henry J & McGuire, Martin**405-07 Public Goods and Income Distribution: A Rejoinder to the Aaron-McGuire Reply***by*Brennan, Geoffrey**409-11 A Proof That Both the Bias and the Mean Square Error of the Two-Stage Least Squares Estimator Are Monotonically Non-Increasing Functions of Sample Size***by*Owen, A D

### 1976, Volume 44, Issue 1

**1-16 Autoregressive and Nonautoregressive Elements in Cross-Section Forecasts of Inflation***by*Kane, Edward J & Malkiel, Burton G**17-41 An Experimental Study of Expectation Formation***by*Schmalensee, Richard**43-52 Rational Expectations and the Natural Rate Hypothesis: Some Consistent Estimates***by*McCallum, Bennett T**53-66 Asymmetric Policymaker Utility Functions and Optimal Policy Under Uncertainty***by*Waud, Roger N**67-78 On the Role of Separability Assumptions in Determining Impatience Implications***by*Burness, H Stuart**79-89 Unite and Conquer: A Multiplicative Inequality for Choice Probabilities***by*Sattath, Shmuel & Tversky, Amos**91-103 Threats, Counter-Threats, and Strategic Voting***by*Pattanaik, Prasanta K**105-14 A Social Choice Interpretation of the von Neumann-Morgenstern Game***by*Bloomfield, Stefan D**115-27 The Incentives for Price-Taking Behavior in Large Exchange Economies***by*Roberts, Donald John & Postlewaite, Andrew**129-35 The Liquidity Trap***by*Grandmont, Jean-Michel & Laroque, Guy**137-48 Efficient Estimation of the Lorenz Curve and Associated Inequality Measures from Grouped Observations***by*Kakwani, Nanak C & Podder, N**149-65 Some Finite Sample Properties of Spectral Estimators of a Linear Regression***by*Engle, Robert F & Gardner, Roy**167-84 Estimation in the Presence of Stochastic Parameter Variation***by*Cooley, Thomas F & Prescott, Edward C**185-94 Specificaton Error Tests and Investment Functions***by*Loeb, Peter D

### 1975, Volume 43, Issue 5-6

**815-43 Policy Related Voting and Electoral Equilibrium***by*McKelvey, Richard D**845-52 Degrees of Cardinality and Aggregate Partial Orderings***by*Blackorby, Charles**853-66 The Continuity of Majority Rule Equilibrium***by*Denzau, Arthur T & Parks, Robert P**867-75 Bounded One-Way Expected Utility***by*Fishburn, Peter C**877-92 A Disaggregate Analysis of Consumer Choice under Uncertainty***by*Epstein, L**893-906 An Adaptive Learning Rule for Multiperiod Decision Problems***by*MacRae, Elizabeth Chase**907-12 The Graph of the Walras Correspondence***by*Balasko, Yves