# Elsevier

# Journal of Economic Theory

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**Current editor:**A. Lizzeri

**Editor:**

Additional information is available for the following
registered editor(s): Jess Benhabib
Alessandro Lizzeri
Karl Shell
**For corrections or technical questions regarding this series, please contact
(Shamier, Wendy)**

**Series handle:**repec:eee:jetheo

**ISSN:**0022-0531

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### 1991, Volume 55, Issue 2

**323-339 Vintage capital, investment, and growth***by*Benhabib, Jess & Rustichini, Aldo**340-363 Optimal consumption-portfolio policies: A convergence from discrete to continuous time models***by*He, Hua**364-399 Implicit separability: Characterisation and implications for consumer demands***by*Blackorby, Charles & Davidson, Russell & Schworm, William**400-415 Core convergence without monotone preferences and free disposal***by*Manelli, Alejandro M.**416-427 Learning in mis-specified models and the possibility of cycles***by*Nyarko, Yaw**428-434 Correlated equilibria and evolutionary stability***by*Cripps, Martin**435-440 Increases in risk and deductible insurance***by*Eeckhoudt, Louis & Gollier, Christian & Schlesinger, Harris**441-448 Cournot duopoly with two production periods and cost differentials***by*Pal, Debashis**449-454 The optimal lifetime of capital equipment***by*van Hilten, Onno

### 1991, Volume 55, Issue 1

**1-16 Characterizing efficiency in stochastic overlapping generations models***by*Zilcha, Itzhak**17-40 Efficient trading mechanisms with pre-play communication***by*Palfrey, Thomas R. & Srivastava, Sanjay**41-63 Ex ante incentive efficient trading mechanisms without the private valuation restriction***by*Gresik, Thomas A.**64-94 What do discounted optima converge to?: A theory of discount rate asymptotics in economic models***by*Dutta, Prajit K.**95-120 On the continuum approach of spatial and some local public goods or product differentiation models: Some problems***by*Berliant, Marcus & ten Raa, Thijs**121-144 On the existence of a technical efficiency criterion***by*Dmitruk, Andrei V. & Koshevoy, Gleb A.**145-160 Global measures of risk aversion***by*Bardsley, Peter**161-168 Stochastic dynamic models with stock-dependent rewards***by*Nyarko, Yaw & Olson, Lars J.**169-179 Continuity in auction design***by*Robert, Jacques**180-191 The dynamics of competitive equilibrium allocations with borrowing constraints***by*Hernandez D, Alejandro**192-202 Posterior-preserving information improvements and principal-agent relationships***by*Singh, Nirvikar**203-212 Incentive compatibility and individual rationality in public good economies***by*Saijo, Tatsuyoshi**213-219 Multitrade bargaining***by*Bae, Hyung**220-225 Note on Roemer's indecomposability***by*Choliz, JulioSanchez

### 1991, Volume 54, Issue 2

**245-258 Cheap-talk and cooperation in a society***by*Matsui, Akihiko**259-304 Consumption and portfolio policies with incomplete markets and short-sale constraints: The infinite dimensional case***by*He, Hua & Pearson, Neil D.**305-320 Equilibria with options: Existence and indeterminacy***by*Krasa, Stefan & Werner, Jan**321-337 Welfare bounds in the fair division problem***by*Moulin, Herve**338-349 Nonhomothetic preferences and exact price index numbers***by*Bossert, Walter & Pfingsten, Andreas**350-371 Unjust intergenerational allocations***by*Asheim, Geir B.**372-388 Temporary transfers in a simple dynamic general equilibrium model***by*Yano, Makoto**389-400 Comparative statics in matching markets***by*Crawford, Vincent P.**401-408 Atemporal dynamic consistency and expected utility theory***by*Karni, Edi & Schmeidler, David**409-416 Existence of Lindahl equilibria in economies with nonconvex production sets***by*Bonnisseau, Jean-Marc**417-428 Sustainable oligopolies***by*Demange, Gabrielle & Henriet, Dominique**429-447 Common-value auctions with discrete private information***by*Wang, Ruqu**448-459 Class shares and economies of scope***by*Arzac, Enrique R.**460-467 Continuity of optima***by*Mandy, David M.

### 1991, Volume 54, Issue 1

**1-25 Gross substitutability in large-square economies***by*Kehoe, Timothy J. & Levine, David K. & Mas-Colell, Andreu & Woodford, Michael**26-47 An approximate folk theorem with imperfect private information***by*Fudenberg, Drew & Levine, David K.**48-68 Correlated equilibrium in games with type-dependent strategies***by*Cotter, Kevin D.**69-83 Dominant root characterization of Pareto optimality and the existence of optimal equilibria in stochastic overlapping generations models***by*Rao Aiyagari, S. & Peled, Dan**84-97 Fiat money in a pairwise-trading, multi-good, overlapping generations model***by*Maeda, Yasuo**98-105 Revealed preference and intransitive indifference***by*Gensemer, Susan H.**106-123 A local independence condition for characterization of Walrasian allocations rule***by*Nagahisa, Ryo-ichi**124-147 On the competitive pressure created by the diffusion of innovations***by*Mookherjee, Dilip & Ray, Debraj**148-164 Asset trading mechanisms and expansionary policy***by*Levine, David K.**165-179 Pareto irrelevant externalities***by*Parks, Robert P.**180-197 The equivalence of core and cost share equilibria in an economy with a public good***by*Weber, Shlomo & Wiesmeth, Hans**198-203 Incentive compatible mechanisms with full transferability***by*Matsushima, Hitoshi**204-214 A note on cost-share equilibrium and owner-consumers***by*Mas-Colell, Andreu & Silvestre, Joaquim**215-223 Growth, externalities, and sunspots***by*Spear, Stephen E.**224-233 Transversality condition and optimality in a class of infinite horizon continuous time economic models***by*Leung, Siu Fai**234-238 On the feasibility of maximal collusion***by*Segerstrom, Paul S.**239-240 Corrigendum***by*Greenberg, Joseph

### 1991, Volume 53, Issue 2

**215-235 A contribution to the pure theory of money***by*Kiyotaki, Nobuhiro & Wright, Randall**236-260 Perfect Bayesian equilibrium and sequential equilibrium***by*Fudenberg, Drew & Tirole, Jean**261-286 Corporate financial hedging with proprietary information***by*DeMarzo, Peter M. & Duffie, Darrell**287-303 Testing strictly concave rationality***by*Matzkin, Rosa L. & Richter, Marcel K.**304-327 Seasonal patterns of futures hedging and the resolution of output uncertainty***by*Hirshleifer, David**328-344 Linear measures of inequality for cooperative games***by*Einy, Ezra & Peleg, Bezalel**345-368 An axiomatic characterization of some measures of unfairness***by*David Promislow, S.**369-395 Micro adjustment toward long-term equilibrium***by*Dumenil, Gerard & Levy, Dominique**396-427 Social welfare functions on restricted economic domains***by*Redekop, James**428-438 On the dispensability of public randomization in discounted repeated games***by*Fudenberg, Drew & Maskin, Eric**439-451 Existence of sunspot equilibrium and absence of non-sunspot equilibria in a financial economy***by*Pietra, Tito

### 1991, Volume 53, Issue 1

**1-11 A new approach to the existence of equilibria in vector lattices***by*Mas-Colell, Andreu & Richard, Scott F.**12-50 The economics of orchards: An exercise in point-input, flow-output capital theory***by*Mitra, Tapan & Ray, Debraj & Roy, Rahul**51-74 Efficient allocation with continuous quantities***by*McAfee, R. Preston**75-100 Rank- and sign-dependent linear utility models for binary gambles***by*Luce, R. Duncan**101-130 Equilibria in open common value auctions***by*Bikhchandani, Sushil & Riley, John G.**131-145 Ex ante efficient, ex post individually rational trade***by*Gresik, Thomas A.**146-172 Patent competition, rent dissipation, and the persistence of monopoly: The role of research budgets***by*Leininger, Wolfgang**173-184 The efficiency of linear equilibria of sealed-bid double auctions***by*Gresik, Thomas A.**185-198 On the feasibility of arbitrage-based option pricing when stochastic bond price processes are involved***by*Cheng, Susan T.**199-205 Efficient bilateral trade with statistically dependent beliefs***by*Gresik, Thomas A.**206-211 On competitive price systems associated with efficient growth paths***by*Coutinho, Paulo C.**212-212 Bibliography on stochastic orderings : Letter to the Editor***by*Mosler, Karl & Scarsini, Marco

### 1990, Volume 52, Issue 2

**243-267 Rational behavior with payoff uncertainty***by*Dekel, Eddie & Fudenberg, Drew**268-303 A benchmark for comparative dynamics and determinacy in overlapping-generations economies***by*Burke, Jonathan L.**304-331 Fixed-equilibrium rationalizability in signaling games***by*Sobel, Joel & Stole, Lars & Zapater, Inigo**332-363 Rational behavior and rational expectations***by*McAllister, Patrick H.**364-379 Dynamic efficiency in overlapping generations models with stochastic production***by*Zilcha, Itzhak**380-405 Efficiency and adverse selection***by*Bigelow, John P.**406-422 Subgame perfect equilibrium in continuous games of perfect information: An elementary approach to existence and approximation by discrete games***by*Hellwig, Martin & Leininger, Wolfgang & Reny, Philip J. & Robson, Arthur J.**423-432 Equilibrium cycling with small discounting***by*Benhabib, Jess & Rustichini, Aldo**433-439 Convexity and sunspots: A remark***by*Cass, D. & Polemarchakis, H. M.**440-452 Information, associativity, and choice requirements***by*Johnson, Mark R.**453-463 Characterizing optimism and pessimism directly through comonotonicity***by*Wakker, Peter

### 1990, Volume 52, Issue 1

**1-17 Lotteries, insurance, and star-shaped utility functions***by*Landsberger, Michael & Meilijson, Isaac**18-44 Equivariant general equilibrium theory***by*Balasko, Yves**45-67 Limited liability and incentive contracting with ex-ante action choices***by*Innes, Robert D.**68-86 The dynamic structure of optimal debt contracts***by*Chang, Chun**87-110 Regulation, competition, and asymmetric information***by*Caillaud, Bernard**111-122 An axiomatic approach to compensated demand***by*Fuchs-Seliger, Susanne**123-135 On a conjecture by gale about one-sided matching problems***by*Zhou, Lin**136-161 Nonlinear strategies in dynamic duopolistic competition with sticky prices***by*Tsutsui, Shunichi & Mino, Kazuo**162-177 Betweenness satisfying preferences and dynamic choice***by*Gul, Faruk & Lantto, Outi**178-189 Communication, consensus, and knowledge***by*Parikh, Rohit & Krasucki, Paul**190-207 Ignoring ignorance and agreeing to disagree***by*Samet, Dov**208-222 Continuous implementation of constrained rational expectations equilibria***by*Wettstein, David**223-231 Existence of equilibrium in CAPM***by*Nielsen, Lars Tyge**232-236 A letter to the editor on wage bargaining***by*Haller, Hans & Holden, Steinar

### 1990, Volume 51, Issue 2

**233-254 Incentives and the existence of Pareto-optimal revelation mechanisms***by*d'Aspremont, Claude & Cremer, Jacques & Gerard-Varet, Louis-Andre**255-267 Continuity of measures of technical efficiency***by*Robert Russell, R.**268-294 Existence and optimality of currency equilibrium in stochastic overlapping generations models: The pure endowment case***by*Manuelli, Rodolfo**295-312 Limit properties of equilibrium allocations of Walrasian strategic games***by*Otani, Yoshihiko & Sicilian, Joseph**313-345 A necessary condition for decentralization and an application to intertemporal allocation***by*Hurwicz, Leonid & Weinberger, Hans F.**346-366 Subjective expected utility with non-additive probabilities on finite state spaces***by*Nakamura, Yutaka**367-390 Income fluctuation and asymmetric information: An example of a repeated principal-agent problem***by*Thomas, Jonathan & Worrall, Tim**391-402 Behaviorally consistent optimal stopping rules***by*Karni, Edi & Safra, Zvi**403-422 Optimal reimbursement health insurance: An application of profit functions and Frischian demands***by*Besley, Timothy**423-430 Preferences and normal goods: A necessary and sufficient condition***by*Alarie, Yves & Bronsard, Camille & Ouellette, Pierre**431-433 Normal goods and the expenditure function***by*Fisher, Franklin M.**434-442 Factor intensity reversal in a multi-factor, two-good economy***by*Wong, Kar-yiu**443-452 Completely feasible and continuous implementation of the Lindahl correspondence with a message space of minimal dimension***by*Tian, Guoqiang

### 1990, Volume 51, Issue 1

**1-31 Short-term contracts and long-term agency relationships***by*Fudenberg, Drew & Holmstrom, Bengt & Milgrom, Paul**32-47 Can equity be purchased at the expense of efficiency? An axiomatic inquiry***by*Campbell, Donald E.**48-76 Perfect equilibrium and intergenerational conflict in a model of cooperative enterprise growth***by*Mitchell, Janet**77-91 Stochastic dominance in multi sampling environments***by*Fishman, Arthur**92-110 Anonymous repeated games with a large number of players and random outcomes***by*Sabourian, Hamid**111-125 First order versus second order risk aversion***by*Segal, Uzi & Spivak, Avia**126-143 A strategic market game with complete markets***by*Amir, Rabah & Sahi, Siddharta & Shubik, Martin & Yao, Shuntian**144-170 Communication between rational agents***by*Rabin, Matthew**171-183 Characterizations of the equilibrium payoffs of inertia supergames***by*Chakrabarti, Subir K.**184-193 On the logic of "agreeing to disagree" type results***by*Rubinstein, Ariel & Wolinsky, Asher**194-206 Nash and perfect equilibria of discounted repeated games***by*Fudenberg, D. & Maskin, E.**207-227 Implementation of Walrasian expectations equilibria***by*Blume, Lawrence & Easley, David

### 1990, Volume 50, Issue 2

**237-264 Liquidity and interest rates***by*Lucas, Robert Jr.**265-284 Indeterminacy of stationary equilibrium in stochastic overlapping generations models***by*Spear, Stephen E. & Srivastava, Sanjay & Woodford, Michael**285-299 Subgame perfect implementation: A necessary and almost sufficient condition***by*Abreu, Dilip & Sen, Arunava**300-308 Simultaneous offers and the inefficiency of bargaining: A two-period example***by*Dekel, Eddie**309-325 A model of electoral competition with incomplete information***by*Banks, Jeffrey S.**326-345 Recursive utility and the Ramsey problem***by*Boud, John III**346-361 Subjective evaluations of n-person games***by*Blair, Douglas H. & McLean, Richard P.**362-380 An overlapping generations model core equivalence theorem***by*Aliprantis, Charalambos D. & Burkinshaw, Owen**381-413 Strategic stability and uniqueness in signaling games***by*Cho, In-Koo & Sobel, Joel**414-423 Intergenerational social choice without the Pareto principle***by*Campbell, Donald E.**424-444 Coherent behavior in noncooperative games***by*Nau, Robert F. & McCardle, Kevin F.**445-458 Effective cheap talk with conflicting interests***by*Seidmann, Daniel J.**459-464 Maximal elements of weakly continuous relations***by*Campbell, Donald E. & Walker, Mark

### 1990, Volume 50, Issue 1

**1-21 Determinacy of equilibria in dynamic models with finitely many consumers***by*Kehoe, Timothy J. & Levine, David K. & Romer, Paul M.**22-36 Signaling, forward induction, and stability in finitely repeated games***by*Osborne, Martin J.**37-53 The logical foundations of urban economics are consistent***by*Papageorgiou, Yorgos Y. & Pines, David**54-81 Nonexpected utility preferences in a temporal framework with an application to consumption-savings behaviour***by*Chew, Soo Hong & Epstein, Larry G.**82-92 An axiomatization of the single-series Ginis***by*Bossert, Walter**93-126 Partially-revealing rational expectations equilibrium in a competitive economy***by*Ausubel, Lawrence M.**127-154 Equilibrium without independence***by*Crawford, Vincent P.**155-174 Competitive equilibria and the core of overlapping generations economies***by*Esteban, J. & Millan, T.**175-192 Dynamic labor contracts under asymmetric information***by*Osano, Hiroshi**193-203 Multivariate decision-making under risk aversion***by*Olson, Lars J.**204-213 Demand for risky financial assets: A portfolio analysis***by*Landsberger, Michael & Meilijson, Isaac**214-218 Mean-variance efficiency when investors are not required to invest all their money***by*Ehrbar, Hans**219-233 Monetary taxation in a monetary exchange economy***by*Dusansky, Richard

### 1989, Volume 49, Issue 2

**207-240 A unifying approach to axiomatic non-expected utility theories***by*Chew, S. H. & Epstein, L. G.**241-265 Utility functionals with nonpaternalistic intergenerational altruism***by*Hori, Hajime & Kanaya, Sadao**266-277 The nash program: Non-convex bargaining problems***by*Herrero, Maria Jose**278-293 An application of the theory of social situations to repeated games***by*Greenberg, Joseph**294-313 Countervailing incentives in agency problems***by*Lewis, Tracy R. & Sappington, David E. M.**314-323 A note on stochastic dominance and inequality measures***by*Muliere, Pietro & Scarsini, Marco**324-338 Dynamic duopoly with adjustment costs: A differential game approach***by*Driskill, Robert A. & McCafferty, Stephen**339-346 Finite and infinite complexity in axioms of rational choice or Sen's characterization of preference-compatibility cannot be improved***by*Beja, Avraham**347-359 Some classes of functions that preserve the inequality and welfare orderings of income distributions***by*Moyes, Patrick**360-375 Existence, uniqueness, and stability of equilibrium in an overlapping-generations model with productive capital***by*Galor, Oded & Ryder, Harl E.**376-378 Renegotiation-proof equilibrium: Reply***by*Farrell, Joseph & Maskin, Eric**379-382 Equilibrium with incomplete markets without ordered preferences***by*Werner, Jan

### 1989, Volume 49, Issue 1

**1-9 Small talk and cooperation: A note on bounded rationality***by*Zemel, Eitan**10-32 Cournot-Walras and locally consistent equilibria***by*Gary-Bobo, Robert J.**33-83 Optimal consumption and portfolio policies when asset prices follow a diffusion process***by*Cox, John C. & Huang, Chi-fu**84-92 On the extension of preferences over a set to the power set: An axiomatic characterization of a quasi-ordering***by*Bossert, Walter**93-112 A consistent bargaining set***by*Dutta, Bhaskar & Ray, Debraj & Sengupta, Kunal & Vohra, Rajiv**113-134 Continuum economies with finite coalitions: Core, equilibria, and widespread externalities***by*Hammond, Peter J. & Kaneko, Mamoru & Wooders, Myrna Holtz**135-168 The core of a continuum economy with widespread externalities and finite coalitions: From finite to continuum economies***by*Kaneko, Mamoru & Wooders, Myrna Holtz**169-178 A simple model of optimum life-cycle consumption with earnings uncertainty***by*Sheshinski, Eytan**179-188 Arc-connectedness of the set of efficient allocations in overlapping-generations economies***by*Burke, Jonathan L.**189-194 On incentive compatible, individually rational, and ex post efficient mechanisms for bilateral trading***by*Matsuo, Toshihide**195-202 Deriving strong and coalition-proof nash equilibria from an abstract system***by*Greenberg, Joseph

### 1989, Volume 48, Issue 2

**337-368 Convergence of least squares learning mechanisms in self-referential linear stochastic models***by*Marcet, Albert & Sargent, Thomas J.**369-385 Large symmetric games are characterized by completeness of the desirability relation***by*Einy, Ezra & Neyman, Abraham**386-415 Technological competition, uncertainty, and oligopoly***by*Vives, Xavier**416-427 Equilibrium without uniform conditions***by*Araujo, A. & Monteiro, P. K.**428-442 Efficiency in repeated games with imperfect monitoring***by*Matsushima, Hitoshi**443-475 A dictionary for voting paradoxes***by*Saari, Donald G.**476-496 Stable equilibria and forward induction***by*van Damme, Eric**497-509 Commodity price fluctuations: Price dependent delays and nonlinearities as explanatory factors***by*Mackey, Michael C.**510-525 Product variety and competitive discounts***by*Spulber, Daniel F.**526-547 On the optimality and stability of competitive paths in continuous time growth models***by*Sorger, Gerhard

### 1989, Volume 48, Issue 1

**1-17 Introduction: Symposium on Noncooperative Bargaining***by*Linhart, Peter & Radner, Roy & Satterthwaite, Mark**18-46 A direct mechanism characterization of sequential bargaining with one-sided incomplete information***by*Ausubel, Lawrence M. & Deneckere, Raymond J.**47-62 Bargaining with common values***by*Vincent, Daniel R.**63-106 Equilibria of the sealed-bid mechanism for bargaining with incomplete information***by*Leininger, W. & Linhart, P. B. & Radner, R.**107-133 Bilateral trade with the sealed bid k-double auction: Existence and efficiency***by*Satterthwaite, Mark A. & Williams, Steven R.**134-151 The bilateral monopoly model: Approaching certainty under the split-the-difference mechanism***by*Broman, Elizabeth M.**152-178 Minimax-regret strategies for bargaining over several variables***by*Linhart, P. B. & Radner, R.**179-220 The sealed-bid mechanism: An experimental study***by*Radner, Roy & Schotter, Andrew**221-237 Cheap talk can matter in bargaining***by*Farrell, Joseph & Gibbons, Robert**238-263 Pre-play communication in two-person sealed-bid double auctions***by*Matthews, Steven A. & Postlewaite, Andrew**264-303 Credible negotiation statements and coherent plans***by*Myerson, Roger B.**304-332 The rate at which a simple market converges to efficiency as the number of traders increases: An asymptotic result for optimal trading mechanisms***by*Gresik, Thomas A. & Satterthwaite, Mark A.

### 1989, Volume 47, Issue 2

**239-256 Cost share equilibria: A Lindahlian approach***by*Mas-Colell, Andreu & Silvestre, Joaquim**257-281 Arrovian theorems with private alternatives domains and selfish individuals***by*Bordes, Georges & Breton, Michel Le