# Elsevier

# Journal of Economic Theory

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**Current editor:**A. Lizzeri

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

**ISSN:**0022-0531

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### December 1978, Volume 19, Issue 2

**534-547 A general equilibrium model of production with a random marginal rate of substitution***by*Pope, Rulon D. & Just, Richard E.**548-550 A characterization result for the plurality rule***by*Hartfiel, D. J.**551-554 Some error estimates in matrix economic models***by*Hartfiel, D. J.**555-557 Utility theory and participation in unfair lotteries***by*Patel, Nitin R. & Subrahmanyam, Marti G.**558-560 Minimal conditions for upper-hemicontinuity of the choice correspondence***by*Nermuth, Manfred**561-564 Pitfalls in the theory of fairness--Comment***by*Daniel, Terrence E.**565-567 Robustness of the median voter result***by*Kramer, Gerald H.

### October 1978, Volume 19, Issue 1

**1-27 The computation of urban land use equilibria***by*Richter, Donald K.**28-37 Resource extraction, substitute production, and monopoly***by*Hoel, Michael**38-49 Probabilities of election outcomes for large electorates***by*Gehrlein, William V. & Fishburn, Peter C.**50-63 Optimal control problems from second-order difference equations***by*Dechert, Dee**64-83 Time preferences, conditional risk preferences, and two-period cardinal utility***by*Rossman, Michael & Selden, Larry**84-102 Equilibrium with quantity rationing and recontracting***by*Grandmont, Jean-Michel & Laroque, Guy & Younes, Yves**103-122 The Le Chatelier Principle in optimal control problems***by*Epstein, Larry G.**123-149 Correlation and duopoly***by*Gerard-Varet, L. A. & Moulin, H.**150-162 Measuring the technical efficiency of production***by*Fare, Rolf & Knox Lovell, C. A.**163-179 Optimal savings and exhaustible resource extraction in an open economy***by*Aarrestad, Jostein**180-185 Axioms for approval voting: Direct proof***by*Fishburn, Peter C.**186-191 On the speed of adjustment in the classical tatonnement process: A limit result***by*Blad, Michael C.**192-199 A criterion for the global stability of a price adjustment process***by*Sandberg, I. W.**200-209 Barriers to trade and disadvantageous middlemen: Nonmonotonicity of the core***by*Kalai, Ehud & Postlewaite, Andrew & Roberts, John**210-216 On the concept of fairness***by*Goldman, Steven M. & Sussangkarn, Chal**217-221 A comment on "Decentralized planning and increasing returns"***by*Cremer, Jacques

### August 1978, Volume 18, Issue 2

**225-243 Global asymptotic stability results for multisector models of optimal growth under uncertainty when future utilities are discounted***by*Brock, W. A. & Majumdar, M.**244-254 Preference aggregation with randomized social orderings***by*Barbera, Salvador & Sonnenschein, Hugo**255-277 On Keynesian equilibria with unemployment and quantity rationing***by*Hildenbrand, Kurt & Hildenbrand, Werner**278-293 A reexamination of the store of value in a sequence economy with transaction costs***by*Honkapohja, Seppo**294-300 Zero-sum condition: A necessary and sufficient condition for a transitive voting system***by*Hosomatsu, Yasu**301-317 Monopoly and product quality***by*Mussa, Michael & Rosen, Sherwin**318-327 A recursion relation for the probability of the paradox of voting***by*Gillett, Raphael**328-348 Equilibria, the core, and jurisdiction structures in economies with a local public good***by*Wooders, Myrna**349-361 The properties and generation of homothetic production functions: A synthesis***by*Sandler, Todd & Swimmer, A.**362-367 Stochastic reaction functions in 2 x 2 duopoly***by*Sanghvi, Arun P.**368-370 Gift equilibria and pareto optimality***by*Goldman, Steven Marc

### June 1978, Volume 18, Issue 1

**1-22 A multistage game representation of sophisticated voting for binary procedures***by*McKelvey, Richard D. & Niemi, Richard G.**23-37 Supportable cost functions for the multiproduct firm***by*Sharkey, William W. & Telser, Lester G.**38-58 Life cycle consumption and homeownership***by*Artle, Roland & Varaiya, Pravin**59-80 Measures of relative equality and their meaning in terms of social welfare***by*Blackorby, Charles & Donaldson, David**81-101 Further results on the informational efficiency of competitive stock markets***by*Grossman, Sanford**102-118 Separably concave utilities or the principle of diminishing eagerness to trade***by*Yaari, Menahem E.**119-155 Escalator clauses and the allocation of cyclical risks***by*Azariadis, Costas**156-170 Spatial monopolistic competition versus spatial monopoly***by*Holahan, William**171-189 Incentive compatibility and incomplete information***by*Ledyard, John O.**190-215 The microeconomic foundations of a flow of funds theory of the demand for money***by*Akerlof, George A.**216-223 A note on efficient growth with irreversible investment and the Phelps-Koopmans theorem***by*Mitra, Tapan

### April 1978, Volume 17, Issue 2

**143-163 Leximin and utilitarian rules: A joint characterization***by*Deschamps, Robert & Gevers, Louis**164-178 Divergent rational expectations equilibrium in a dynamic model of a futures market***by*Feiger, George M.**179-199 Disequilibrium dynamics in a simple macroeconomic model***by*Bohm, Volker**200-226 Dynamic processes for tax reform theory***by*Fogelman, Francoise & Quinzii, Martine & Guesnerie, Roger**227-253 Incremental consumer's surplus and hedonic price adjustment***by*Willig, Robert D.**254-286 Mutual fund separation in financial theory--The separating distributions***by*Ross, Stephen A.**287-311 Price expectations, disequilibrium adjustments, and macroeconomic price stability***by*Burmeister, Edwin & Turnovsky, Stephen J.**312-318 A note on the positivity constraint in Olech's theorem***by*Ito, Takatoshi**319-331 Potential competition and the monopoly price of an exhaustible resource***by*Gilbert, Richard J. & Goldman, Steven M.

### February 1978, Volume 17, Issue 1

**1-20 A theory of money and financial institutions. 28. The non-cooperative equilibria of a closed trading economy with market supply and bidding strategies***by*Dubey, Pradeep & Shubik, Martin**21-37 Market allocations of location choice in a model with free mobility***by*Starrett, David**38-50 A Neo-Austrian two-period multisector model of capital***by*Bernholz, Peter & Faber, Malte & Reiss, Winfried**51-65 The dynamics of some duopoly games involving the Market Share and Nichol strategies***by*Rickard, John A. & Murray, Ian W.**66-78 On the informational size of message spaces for resource allocation processes***by*Osana, Hiroaki**79-98 Information, futures prices, and stabilizing speculation***by*Danthine, Jean-Pierre**99-113 Efficient transitions from a resource to a substitute technology in an economic growth context***by*Hanson, Donald A.**114-129 Efficient growth with exhaustible resources in a neoclassical model***by*Mitra, Tapan**130-133 Extension of Oi's price instability theorem***by*Tisdell, Clem**134-140 Period analysis and continuous analysis in Patinkin's macroeconomic model***by*Karni, Edi

### December 1977, Volume 16, Issue 2

**123-136 The ratio equilibrium and a voting game in a public goods economy***by*Kaneko, Mamoru**137-150 Existence of an equilibrium with arbitrary tax schemes for financing local public goods***by*Greenberg, Joseph**151-166 Some results on "an income fluctuation problem"***by*Schechtman, Jack & Escudero, Vera L. S.**167-207 A model of insurance markets with incomplete information***by*Wilson, Charles**208-219 Equilibrium in spatial voting: The median voter result is an artifact***by*Hinich, Melvin J.**220-227 The choice between family and individual deductibles in health insurance policies***by*Keeler, Emmett B. & Relles, Daniel A. & Rolph, John E.**228-246 The role of insurance and gambling in allocating risk over time***by*Eden, Benjamin**247-251 Independence of irrelevant alternatives, and solutions to Nash's bargaining problem***by*Roth, Alvin E.**252-292 The permanent income hypothesis: A theoretical formulation***by*Bewley, Truman**293-309 Revealed preference cycles and the slutsky matrix***by*Shafer, Wayne J.**310-334 A dynamical model of political equilibrium***by*Kramer, Gerald H.**335-353 Extending Condorcet's rule***by*Young, H. P.**354-372 Expectations equilibrium and informational efficiency for stochastic environments***by*Jordan, J. S.**373-393 Labor market equilibrium under nonsequential search***by*Wilde, Louis L.**394-402 Advantageous monopolies***by*Greenberg, J. & Shitovitz, B.**403-424 Technical change and the "tendency of the rate of profit to fall"***by*Roemer, John E.**425-442 A model of general equilibrium with monopolistic behavior***by*Silvestre, Joaquim**443-456 Indivisible commodities and general equilibrium theory***by*Mas-Colell, Andreu**457-469 Characterization of domains admitting nondictatorial social welfare functions and nonmanipulable voting procedures***by*Kalai, Ehud & Muller, Eitan**470-474 On the existence of maximal elements***by*Walker, Mark**475-480 Aggregation and the existence of a social utility function***by*Shapiro, Perry**481-489 Utility functions for simple games***by*Roth, Alvin E.**490-495 A characteristic feature of the consumption-loan model***by*Homma, Masaaki**496-503 Compensating wage differences***by*Sattinger, Michael**504-512 The impact of uncertainty in a class of objective functions***by*Feder, Gershon**513-517 Shapley value and disadvantageous monopolies***by*Gardner, Roy**518-520 A note on the game theoretic interpretation of Walras equilibria***by*Keiding, Hans

### October 1977, Volume 16, Issue 1

**1-9 On shifting temporary equilibrium***by*Christiansen, Daniel S. & Majumdar, Mukul K.**10-16 Stability of competitive industry equilibrium***by*Yun, Kwan Koo**17-37 Duration of offers, price structure, and the gain from search***by*Landsberger, Michael & Peled, Dan**38-52 Search theory: The case of search with uncertain recall***by*Karni, Edi & Schwartz, Aba**53-83 Take-over bids and stock market equilibrium***by*Hart, Oliver D.**84-102 Ranking functions and independence conditions***by*Packard, Dennis J. & Heiner, Ronald A.**103-110 On Schwartz's rule***by*Deb, Rajat**111-115 Conditions for the existence of maximal elements in compact sets***by*Birchenhall, C. R.**116-121 Disadvantageous monopolies and disadvantageous endowments***by*Dreze, Jacques H. & Gabszewicz, Jean Jaskold & Postlewaite, Andrew

### August 1977, Volume 15, Issue 2

**235-251 Monopoly, syndicate, and shapley value: About some conjectures***by*Guesnerie, Roger**252-265 The demand for labor in a dynamic model of the firm***by*Sibley, David S.**266-278 Manipulation of social decision functions***by*Barbera, Salvador**279-294 Individual and collective risks in large economies***by*Berninghaus, Siegfried**295-300 Proportional income taxes and cores in a public goods economy***by*Nakayama, Mikio**301-306 Decisive coalitions in the theory of social choice***by*Ferejohn, John A.**307-324 Equilibrium solutions in dynamic dominant-player models***by*Kydland, Finn**325-344 Optimality, the interaction of spot and futures markets, and the nonneutrality of money in the lucas model***by*Muench, Thomas J.**345-350 On the desirability of a "totally random" monetary policy***by*Polemarchakis, H. M. & Weiss, L.**351-352 Reply to muench and polemarchakis and weiss***by*Lucas, Robert Jr.**353-362 Generalized slutsky conditions for aggregate consumer demand functions***by*Diewert, W. E.**363-365 Core and value for a public-goods economy: An example***by*Aumann, R. J. & Gardner, R. J. & Rosenthal, R. W.**366-375 On the informational size of message spaces***by*Walker, Mark**376-380 On partially continuous correspondences***by*Kats, Amoz & Slutsky, Steven**381-391 A note on dependence between a venture and a current prospect***by*Hildreth, Clifford & Tesfatsion, Leigh**392-393 A further note on market equilibrium with fixed supply***by*Tamir, Arie**394-397 A note on resource usage and market structure***by*Kamien, Morton I. & Schwartz, Nancy L.**398-409 Dynamic behavior of a simple neoclassical model with wealth and capital unequal***by*Gale, David

### June 1977, Volume 15, Issue 1

**1-15 A characterization of the optimality of equilibrium in incomplete markets***by*Grossman, Sanford J.**16-25 Existence and the cass-shell stability condition for Hamiltonian systems of optimal growth***by*Gaines, Robert E.**26-53 Consumption loans under uncertainty***by*Inaba, Frederick S.**54-71 Wealth and the value of generalized lotteries***by*Danforth, John P.**72-91 Collective rationality versus distribution of power for binary social choice functions***by*Fishburn, Peter C. & Gehrlein, William V.**92-98 On the consistency of a gambler with time preference***by*Prakash, Prem**99-111 Existence of stable situations, restricted preferences, and strategic manipulation under democratic group decision rules***by*Dutta, Bhaskar**112-122 Stochastic evolution and control of an economic activity***by*Deshmukh, S. D. & Chikte, S. D.**123-134 The aggregation of controls and the autonomy of subordinates***by*Montias, J. M.**135-144 Separability vs functional structure: A characterization of their differences***by*Blackorby, Charles & Primont, Daniel & Robert Russell, R.**145-159 Sophisticated voting with information for two voting functions***by*Adelsman, Rony M. & Whinston, Andrew B.**160-173 Spaces of economic agents***by*Chichilnisky, Graciela**174-210 Some new results on the local stability of the process of capital accumulation***by*Magill, Michael J. P.**211-219 A local analysis of N-sector capital accumulation under uncertainty***by*Magill, Michael J. P.**220-224 The demand for money and bonds in continuous time models: A comment***by*Meyer, Laurence H.**225-227 Market allocation through search: Equilibrium adjustment and price dispersion: Comment***by*Butters, Gerard R.**228-234 A necessary and sufficient condition for the equality of the expansion rates in the von Neumann growth model***by*Jaksch, Hans Jurgen

### April 1977, Volume 14, Issue 2

**239-251 Externalities and problems of nonconvexity and overhead costs in welfare economics***by*Otani, Yoshihiko & Sicilian, Joseph**252-262 Stability of social choices in infinitely large societies***by*Pazner, Elisha A. & Wesley, Eugene**263-283 Decentralized resource allocation and increasing returns***by*Calsamiglia, Xavier**284-290 Houthakker's axiom in the theory of rational choice***by*Suzumura, Kotaro**291-298 Distortion of preferences, income distribution, and the case for a linear income tax***by*Kurz, Mordecai**299-325 A voting model for the allocation of public goods: Existence of an equilibrium***by*Slutsky, Steven**326-336 Choice among distributions***by*Meyer, Jack**337-348 Protection and real wages: The neoclassical ambiguity***by*Ruffin, Roy & Jones, Ronald**349-372 A unified model of consumption, labor supply, and job search***by*Seater, John J.**373-388 Mixed pricing in oligopoly***by*Shilony, Yuval**389-401 Characterizing optimal policies in a one-sector model of economic growth under uncertainty***by*Mirman, Leonard J. & Zilcha, Itzhak**402-411 An admissible set occurring in various bargaining situations***by*Kalai, Ehud & Schmeidler, David**412-418 The equivalence of strong positive association and strategy-proofness***by*Muller, Eitan & Satterthwaite, Mark A.**419-438 Competitive and value allocations of large exchange economies***by*Mas-Colell, Andreu**439-442 The St. Petersburg paradox: A con games?***by*Shapley, Lloyd S.**443-445 The St. Petersburg paradox: A discussion of some recent comments***by*Aumann, Robert J.**446-453 Lotteries and menus: A comment on unbounded utilities***by*Shapley, Lloyd S.**454-457 A problem with public sector preferences***by*Denzau, Arthur T. & Parks, Robert P.**458-466 Pitfalls in the theory of fairness***by*Pazner, Elisha A.**467-473 A general equilibrium framework for the divvy economy***by*Salas, V. & Whinston, A.

### February 1977, Volume 14, Issue 1

**1-18 Management production functions and the theory of the firm***by*Beckmann, Martin J.**19-31 Weak path independence***by*Ferejohn, John A. & Grether, David M.**32-43 A note on "fulfilled expectations" equilibria***by*Kreps, David M.**44-67 Decentralized control problems in neumann-economies***by*Kornai, Janos & Simonovits, Andras**68-83 The general equilibrium theory of tax incidence under uncertainty***by*Ratti, Ronald A. & Shome, Parthasarathi**84-112 Existence of equilibria in economies with a local public good***by*Westhoff, Frank**113-129 Revealed favorability, indirect utility, and direct utility***by*Sakai, Yasuhiro**130-148 Dual price and quantity aggregation***by*Blackorby, Charles & Primont, Daniel & Robert Russell, R.**149-171 Transitivity of preferences on a smooth manifold of alternatives***by*Schofield, Norman**172-179 Asymmetric duopoly and the core***by*Jaskold-Gabszewicz, Jean**180-189 Candidates with policy preferences: A dynamic model***by*Wittman, Donald**190-199 The eventual failure of price fixing schemes***by*Townsend, Robert M.**200-220 Excess supply equilibria***by*Futia, Carl A.**223-227 Closedness of convex hulls***by*Sakuma, Itsuo**228-231 An empirical implication of Auspitz-Lieben-Edgeworth-Pareto complementarity***by*Chipman, John S.**232-234 The definition of risk: An extension***by*Levy, Haim**235-237 A note on the Arrow-Kurz model of public investment***by*Bernstein, Jeffrey I.

### December 1976, Volume 13, Issue 3

**341-360 The arbitrage theory of capital asset pricing***by*Ross, Stephen A.**361-379 Impossibility theorems without collective rationality***by*Blair, Douglas H. & Bordes, Georges & Kelly, Jerry S. & Suzumura, Kotaro**380-395 Issues in optimal educational policy in the context of balanced growth***by*Manning, R.**396-413 Comparative statics of a residential economy with several classes***by*Hartwick, John & Schweizer, Urs & Varaiya, Pravin**414-427 Choice functions, "rationality" conditions, and variations on the weak axiom of revealed preference***by*Schwartz, Thomas**428-438 Increasing returns to scale and productive systems***by*Dierker, E. & Fourgeaud, C. & Neuefeind, W.**439-447 Differential properties of functions which are solutions to maximization or minimization problems***by*Glustoff, Errol**448-457 Age-income profiles, income distribution and transition proportions***by*Hartog, Joop**458-471 A note on the core of economies with atoms or syndicates***by*Champsaur, Paul & Laroque, Guy**472-477 The welfare implications of Becker's discrimination coefficient***by*Toikka, Richard S.**478-483 A household consumption model of solid waste***by*Lackman, Conway L.**484-485 Technological condition for balanced growth: A note on professor Whitaker's contribution***by*Gomulka, Stanislaw**486-487 On the history of concepts of fairness***by*Varian, Hal R.

### October 1976, Volume 13, Issue 2

**169-183 Sequences of temporary equilibria, stationary point expectations, and Pareto efficiency***by*Svensson, Lars E. O.**184-192 An advantage of the bargaining set over the core***by*Maschler, Michael**193-200 A proof technique for social choice with variable electorate***by*Hansson, Bengt & Sahlquist, Henrik**201-216 Asymptotic stability of stationary temporary equilibria and changes in expectations***by*Fuchs, Gerard**217-228 Manipulation of social choice functions***by*Gardenfors, Peter**229-244 Indexation in a rational expectations model***by*Barro, Robert J.**245-263 Portfolio selection with transactions costs***by*Magill, Michael J. P. & Constantinides, George M.**264-271 The preferability of investment through a mutual fund***by*Magill, Michael J. P.**272-297 Habit formation and long-run utility functions***by*Pollak, Robert A.**298-318 Adaptive behavior, demand and preferences***by*El-Safty, Ahmad E.**319-328 Adaptive behavior and the existence of Weizsacker's long-run indifference curves***by*El-Safty, Ahmad E.**329-340 Endogenous tastes and stable long-run choice***by*Hammond, Peter J.

### August 1976, Volume 13, Issue 1

**1-13 A model of economic growth with altruism between generations***by*Kohlberg, Elon**14-25 The probability of the paradox of voting: A computable solution***by*Gehrlein, William V. & Fishburn, Peter C.**26-46 On efficiency and Pareto optimality of competitive programs in closed multisector models***by*Majumdar, Mukul & Mitra, Tapan & McFadden, Daniel