## Content

### 1995

**95111 An Algorithmic Approach Towards the Tracing Procedure of Harsanyi and Selten***by*Van Den Elzen,A. & Talman,D.**95109 Long-run Exchange Rate Determination:a Neural Network Study***by*Verkooijen,W. & Plasmans,J. & Daniels,H.**95108 Spatial Competition with Intermediated Matching***by*Raalte,C.V. & Webers,H.**95107 Should We Offer the Unemploymed Places on labour Market programmes with the Intention that They Reject Them?***by*Miller, J.**95106 The Missing Link in Budget Models of Nonprofit Institutions : Two Practical Dutch Applications***by*Verheyen, P.**95105 Estimating Economic Effects of the Great Leap Forward and the Cultural Revolution in China***by*Kwan, Y. & Chow, G.**95104 Owen's Coalitional Value and Aircraft Landing Fees***by*Vasquez-Brage, M. & Van den Nouweland, A. & Garcia-Jurado,, I.**9599 The Relation Between Wealth and Labour Market Transitions: An Empirical Study for the Netherlands***by*Bloemen, H.**9598 Robustness of Adaptive Expections as an Equilibrium Selection Device***by*Lettau, M. & Van Zandt, T.**9596 Convergence and International Policy Coordination in the EU: A Dynamic Games Approach***by*Douven, R. & Plasmans, J.**9595 Probabilistic Graphs in Cooperative Games: A Model Inspired by Voting Situations***by*Calvo, E. & Lasaga, J. & van den Nouwenland, A.**9594 A Globally Convergent Price Adjustment Process for Exchange Economies***by*Joosten, R. & Talman, D.**9593 Saving and Wealth Holdings of the Elderly***by*Alessie, R. & Lusardi, A. & Kapteyn, A.**9592 Demystifying Rational Expectations Theory Through an Economic-Psychological Model***by*Wameryd, K.E.**9591 reference Priors in Non-Normal Location Problems***by*Fernandez, C. & Steel, M.F.J.**9590 Public Pensions in Representative Democracy***by*Van de Ven, M.**9589 Estimating Life-Cycle Labor Supply tax Effects***by*Ziliak, J. & Kniesner, T.J.**9588 Cooperative Games with Stochastic Payoffs***by*Sujis, J. & Borm, P. & De Waegenaere, A. & Tijs, S.**9587 The Political Economy of Central Bank Independence***by*Eijffinger, S. & De Hann, J.**9586 A Model of Management Teams***by*Ley, E. & Steel, M.FJ.**9585 Labour Supplies Shocks and Neoclassical Theory***by*Canton, E.**9584 Approximations for the Delivery Splitting Model***by*Janssen, F. & De Kok, T. & Van der Duyn Schouten, F.**9582 Capital Income and Profits Taxation with Foreign Ownership of Firms***by*Huizinga, H. & Nielsen, S.B.**9581 A General Solution to King Solomon's Dilemma***by*Perry, M. & Reny, P.J.**9578 Capital Accumulation of a Firm Facing an Emissions Tax***by*Hartl, R.F. & Kort, P.M.**9577 Axiomatizations of Lindhal and Ratio Equilibria in Public Good Economies***by*van den Nouweland, A. & Tijs, S. & Wooders, M.**9572 Consumer's Welfare and Change in Stochatstic Partial- Equilibrium Price***by*Stennek, J.**9569 Age-Dependent Failure Modelling: A Hazard-Function Approach***by*Berg, M.P.**9568 Posterior Analysis of Stochastic Volatility Models with Flexible Tails***by*Steel, M.F.J.**9567 Optimal Desing of Simulation Experiments with Nearly Saturated Queues***by*Cheng, R.C.H. & Kleiinen, J.P.C.**9564 The Division of Profit in Sequential Innovation Reconsidered***by*Haller, H. & Chou, T.**9562 Momopolistic Competition with a Mail Order Business***by*Bouckaert, J.**9555 The Partenered Core of an Economy***by*Page, F.H. & Holtz Wooders, M.**9536 The Instability of Fixed Exchange Rate Systems when Raising the Nominal Interest Rate is Costly***by*Bensaid, B.B. & Jeanne, O.**9517 The Components of Output Growth: A Croos-Country Analysis***by*Koop, G. & Osiewalski, J. & Steel, M.F.J.**9513 Optimization and Sensitivity Analysis of Computer Similation Models by the Score Function Method***by*Kleijnen, J.P.C. & Rubinstein, R.Y.**9510 Testing Nested and Non-Nested Periodically Integrated Autoregressive Models***by*Franses, P.H. & McAleer, M.

### 1994

**9497 Financial Intermediation, Bank Failure and Official Assistance***by*Scheepens, J.P.J.P.**9495 The Incidence of Interest Withholding Taxes: Evidence from the LCD Loan Market***by*Huizinga, H.**9494 Central Bank Independence in Another Eleven Countries***by*Eijffinger, S. & van Keulen, M.**9493 Central Bank Independence: A Panel Data Approach***by*Eijffinger, S. & van Rool, M. & Schaling, E.**9492 General Equilibrium in Asset Markets with or without Short-Selling***by*Dana, R.A. & Le Van, C. & Magnien, F.**9491 Evolution of the Meaning of Messages in Sender-Receiver Games: An Experiment***by*Blume, A. & De Jong, D.V. & Kim, Y.G. & Sprinkle, G.B.**9490 Real Exchange Rate Misalignment and Redistribution***by*Huizinga, H.**9488 Adaptive Estimation in Time Series Models***by*Drost, F.C. & Klaasens, C.A.J. & Werker, B.J.M.**9486 On the Two-Level Uncapacitated Facility Location Problem***by*Aardal, K. & Labbe, M. & Leung, J. & Queyranne, M.**9485 Informational Constraints and the Overlapping Generations Model: Folk and Anti-Folk Theorems***by*Bhaskar, V.**9483 Capacity Precommitment as a Barrier to Entry: A Bertrand- Engeworth Approach***by*Allen, B. & Deneckere, R. & Faith, T. & Kovenock, D.**9482 Phonebanking***by*Bouckaert, J. & Degryse, H.**9480 Capacitated Facility Location: Separation Algorithms and Computational Experience***by*Aardal, K.**9478 Inflation versus Taxation: Representative Democracy and Party Nominations***by*Beetsma, R.**9477 Servicing the Public Debt: Comment***by*Beetsma, R.**9476 The Chineese Postman and Delivery Games***by*Hamers, H. & Borm, P. & van de Leensel, R. & Tijs, S.**9475 A Simplicial Algorithm for Testing the Integral Property of a Polytope***by*Yang, Z.**9474 Constraints in Perfect Foresight Models: The Case of Old- Age Savings and Public Pensions***by*Meijdam, L. & Verhoeven, M.**9407 A Game Theoretic Approach to Problems in Telecommunication***by*van den Nouweland, A. & Borm, P. & van Golstein, W. & Bruinderink, R.G. & Tijs, S.

### 1993

**9381 Specification, Solution and Estimation of a Discrete Time Target Zone Model of EMS Exchange Rates***by*de Jong, F.**9380 The Continuous Multivariate Location-Scale Model Revisited: A Tale of Robustness***by*Fernandez, C. & Osiewalski, J. & Steel, M.F.J.**9379 Capital Mobility and Social Insurance in an Integrated Market***by*Lejour, A. & Verbon, H.**9378 Automata, Matching and Foraging Behavior of Bees***by*Thuijsman, F. & Peleg, B. & Amitai, M. & Shmida, A.**9374 Marginal Equivalence in V-Spherical Models***by*Fernandez, C. & Osiewalski, J. & Steel, M.F.J.**9372 Voters' Power in Indirect Voting Systems with Political Parties: The Square Root Effect***by*Muto, S.**9371 Alternative-Move Preplays and Vn-M Stable Sets in Two Person Strategic Form Games***by*Muto, S.**9370 Intersection Theorems on the Simplotope***by*van der Laan, G. & Talman, D.**9368 The Solution to the Tullock Rent-Seeking Game When R > 2: Mixed Strategy Equilibria and Mean Dissipation Rates***by*Baye, M.R. & Kovenock, D.**9367 The Estimation of Utility Consistent Labor Supply Models by Means of Simulated Scores***by*Bloemen, H.G. & Kapteyn, A.**9366 Sector Participation in Labour Supply Models: Preference or Rationing?***by*Pradhan, M.**9363 On the Connectedness of the Set of Constrained Equilibria***by*Herings, J.J.**9361 An (S,Q) Inventory Model with Stochastic and Interrelated Lead Times***by*Heuts, R. & de Klein, J.**9360 The Power-Series Algorithm Extended to the BMAP/PH/1 Queue***by*van den Hout, W.B. & Blanc, J.P.C.**9359 Estimating and testing Simultaneous Equation Panel Data Models with Censored Endogenous Variables***by*Vella, F. & Verbeek, M.**9358 Neutral Stability in Assymetric Evolutionary Games***by*Bhaskar, V.**9357 On Ring Formation in Auctions***by*Guth, W. & Peleg, B.**9356 Commitment Robust Equilibria and Endogenous Timing***by*Van Damme, E. & Hurkens, S.**9355 A Simplicial Algorithm for Computing Robist Stationary Points of a Continuous Function on the Unit Simplex***by*Yang, Z.**9354 Aspects of Goods Market Integration. A two-Country-two- Sector Analysis***by*De Groof, R.J. & Van Tuijl, M.A.**9353 Alternative Axiomatic Characterizations of the Shapley and Banzhaf Values***by*Feltkamp, V.**9352 Intertemporal Non-Separability or Borrowing Restrictions? A Disaggregate Analysis Using the US CEX Panel***by*Maghir, C. & Weber, G.**9351 Estmating and Interpreting Models with Endogenous Treatment Effects: The Relationship between Competing Estimators of the Union Impact on Wages***by*Vella, F. & Verbeek, M.**9350 Is There Room for Convergence the E.C***by*Douven, R.C. & Engwerda, J.C.**9349 Intercohort Hetergeneneity and Optimal Social Insurance Systems***by*Simonovits, A.**9348 Intramarginal Interventions, Bands and the Patterns of EMS Exchange Distributions***by*Beettsma, R.M.W.J. & Van Der Ploeg, F.**9347 Performance Analysis and Optimization with the Power- Series Algorithm***by*Blanc, J.P.C.**9346 The Power-Series Algorithm Applied to Polling Systems with a Dormant Server***by*Blanc, J.P.C. & Van Der Mei, R.D.**9345 Environmental Policy, Public Goods and the Marginal Cost of Public Funds***by*Van Der Ploeg, F. & Bovenberg, A.L.**9344 Noise-Proof Equilibria in Signaling Games***by*Carlsson, H. & Dasgupta, S.**9343 Eigenvalues and the Diameter of Graphs***by*Van Dam, E.R. & Haemers, W.H.**9342 Theories on the Scope for Foreign Exchange Market Intervention***by*Almekinders, G.J.**9341 Barriers to Portfolio Investments in Emerging Stock Markets***by*Demirguc-Kunt, A. & Huizinga, H.**9340 Export Subsidies and Oligopoly with Switching Costs***by*To, T.**9339 Competition or Co-Operation***by*Guth, W. & Kliemt, H.**9338 Provision of Public Goods with Incomplete Information: Decentralization vs. Central Planning***by*Gradstein, M.**9337 Characterizations of a Game Theoretical Cost Allocation Methods***by*Otten, G.J.**9336 On the Economic Independence of the Central Bank and the Persistence of Inflation***by*Schaling, E.**9335 Semi-Parametric Estimation on the Sample Selection Model***by*Bovenberg, A.L. & Van Der Ploeg, F.**9334 Semi-Parametric Estimation on the Sample Selection Model***by*Melenberg, B. & Van Soest, A.**9333 Panic Behavio and the Performance of Circuit Breakers: Empirical Evidence***by*Lauterbach, B. & Ben-Zion, U.**9332 Linear Production with Transport of Products, Resources and Technology***by*Feltkamp, V. & Koster, A. & Van Den Nouweland, A. & Borm, P. & Tijs, S.**9331 Time Preference and International Tax Competition***by*Huizinga, H.**9330 The Welfare Effects of Individual Retirement Accounts***by*Huizinga, H.**9329 A Comparison of Cost of Trading French Shares on the Paris Bourse and on SEAQ International***by*De Jong, F. & Nijman, T. & Roell, A.**9328 Tariffs, Rent Extraction and Manipulation of Competition***by*To, T.**9327 Bankruptcy Litigation ans Optimal Debt Contracts***by*Scheepens, P.J.F.**9322 The Will to Save Money; An Essay on Economic Psychology***by*Warneryd, K.E.**9321 Environmental Quality and Pollution-Saving Technological Change in Two- Sector Endogenous Growth Model***by*Bovenberg, A.L. & Smulders, S.**9320 The Quantity Approach of Financial Integration: The Feldstein-Horioka Criterion Revisited***by*Lemmen, J.J.G. & Eijffinger, S.**9319 Multi-Sided Pre-Play Communication By Burning Money***by*Hurkens, S.**9318 On the Determination of the Control Parameters of the Optimal Can-Order Policy***by*Van Eijs, M.J.G.**9317 On Ultimatum Bargaining Experiments , A Personal Review***by*Guth, W.**9316 A Games Corresponding to Sequencing Situations with Ready Times***by*Hamers, H. & Borm, P. & Tijs, S.**9315 A Note on Robinson's Test of Independence***by*Drost, F.C. & Werker, B.J.M.**9314 Consumption Over the Life Cycle and Over the Business Cycle***by*Attanasio, O.P. & Browning, M.**9313 Communication, Complexity, and Evolutionary Stability***by*Warneryd, K.**9312 Marginalization and Contemporaneous Aggregation in Multivariate Garch Processes***by*Nijman, T. & Sentana, E.**9311 Formal and Informal Sector Employment in Urban Areas of Bolivia***by*Pradhan, M. & Van Soest, A.**9310 Female Labour Supply in Farm Households: Farm and Off-Farm Participation***by*Callan, T. & VAN Soest, A.**9309 Price Commitment in Search Markets***by*Bester, H.**9308 Foreign Direct Investment and Political Economy of Protection***by*Ellingsen, T. & Warneryd, K.**9307 Case-Control Studies with Contaminated Controls***by*Imbens, G. & Lancaster, T.**9306 The Consistency Principle for Games in Strategic Form***by*Peleg, B. & Tijs, S.**9305 A Simple Justification of Quantity Competition and the Cournot-Oligopoly Solution***by*Guth, W.**9304 Euler Equations in Micro Data; Merging Data form Two Samples***by*Lusardi, A.**9303 Some Peculiarities of group Decision Making in Teams***by*Karotkin, D. & Nitzan, S.**9302 Are Moral Objections to Free Riding Evolutionarity Stable?***by*Guth, W. & Nitzan, S.**9301 Credibility and Duration of Political Contests and the Extent of Rent Dissipation***by*Kahana, N. & Nitzan, S.

### 1992

**9254 Imperfect Credibility of the Band and Risk Premia in the European Monetary System***by*Beetsman, R.**9253 Permanent Income, Current Income and Consumption: Evidence form Panel Data***by*Lusardi, A.**9252 Environmental Taxation and Labour-Market Distortions***by*Bovenberg, A.L. & De Mooij, R.**9251 Central Bank Independence : Searching for the Philosophers Stone***by*Eijffinger, S. & Schaling, E.**9250 Job Search Theory, Labour Supply and Unemployment Duration***by*Bloemen, H.G.**9249 The Welfare Effects of Indidual Retirement Accounts***by*Huizinga, H.**9248 Partisanship as Information***by*Warneryd, K.**9247 A Generalized Method of Moments Estimator for Long-Memory Processes***by*Tieslau, M.A. & Schmidt, P. & Baillie, R.T.**9246 The Long Memory and Variability of Inflation : A Reappraisal of the Friedman Hypothesis***by*Baillie, R.T. & Chung, C,F. & Tieslau, M.A.**9245 Robust tests for Heteroskedasticity and Autocorrelation Using Score Function***by*Bera, A.K. & Ng, P.T.**9244 IRAS and Household Saving***by*Gale, W.G. & scholz, J.K.**9243 Environmental Policy, Public Finance and the Labour Market in a Second- Best World***by*Bovenberg, A.L. & Van Der Ploeg, F.**9242 The Effects of Marketable Pollution Permits on the Firm's Optimal Investment Policies***by*Kort, P.M.**9241 Coalition Formation in Large Network Economies***by*Gilles, R.P. & Ruys, P.H.M. & Jilin, S.**9240 Temporal Aggregation of Garch Processes***by*Drost, F.C. & Nijman, T.E.**9239 A Model of Labour Supply with Job Offer Restrictions***by*Bloemen, H.G.**9238 Individual Income, Incomplete Information and Aggregate Consumption***by*Pishke, J.S.**9237 Tests of Independence in Parametric Models : with Applications and Illustrations***by*Cameron, C. & Trivedi, P.K.**9236 Strategic Bargaining for the Control of Dynamic System in State-Space Form***by*Houba, H. & De Zeeuw, A.**9235 Strategic Decision Making and the Dynamic of Government Debt***by*Meijdam, L. & Van De Ven, M. & Verbon, H.**9234 Average Causal Response with Variable Treatment Intensity***by*Angrist, J.D. & Imbens, G.W.**9233 Technological Change in Markets with Network Externalities***by*De Bijl, P.W.J. & Goyal, S.**9232 Estimating the Impact of Endogenous Unions Choice on Wages Using Panel Data***by*Vella, F. & Verbeek, M.**9231 Daily Bundersbank and Federal Reserve Interventions - Do They Affect the Level and Unexpected Volatility of the DM/$-Rate?***by*Almekinders, G.J. & Eijffinger, S.**9230 Does Inequality Cause Inflation? The Political Economy of Inflation, Taxation and Government Debt***by*Beetsma, R.M.W.J. & Van Der Ploeg, F.**9229 The Joint Estimation of Non-Linear Labour Supply Function and Wage Equation Using Simulated Respose Probabilities***by*Bloemen, H.G. & Kapteyn, A.**9228 Core Implementation in Modified Strong and Coalition Proof Nash Equilibria***by*Borm, P. & Otten, G.J. & Peters, H.**9227 Four Econometric Fashions and the Kalman Filter Alternative - A Simulation Study***by*Bomhoff, E.**9226 Econmomically Applicable Evolutionary Games***by*Friedman, D.**9225 Robust Selection of Equilibria***by*Suehiro, H.**9224 A "Mistaken Theories" Refinement***by*Suehiro, H.**9223 Monotonic Game Are Spanning Network Games***by*Van den Nouweland, A. & Maschler, M. & Tijs, S.**9222 Price Advertising and Advertising in Oligopoly***by*Bester, H. & Petrakis, E.**9220 Investment-Promoting Policies in Open Economies: The Importance of Intergenerational and International Distributional Effects***by*Bovenberg, A.L.**9219 Testing a Parametric Model Against a Semiparametric Alternative***by*Horowitz, J.L.**9218 The Compromise Value for NTU-Games***by*Borm, P. & Keiding, H. & McLean, R.P.**9217 Credible Equilibria in Games with Utilities Changing During the Play***by*Ferreira, J.L. & Gilboa, I. & Maschler, M.**9216 Indexation of Pensions in Hungary: A Simple Cohort Model***by*Simonovits, A.**9215 On Durable Goods Monopolies and the (Anti-) Coase- Conjecture***by*Guth, W. & Ritzberger, K.**9214 Discrete Choice Models of Family Labour Supply***by*Van Soest, A.**9213 Exchange Rate Bands and Optimal Monetary Accomodatin under a Dirty Flow***by*Beetsma, R.M. & Van Der Ploeg, F.**9212 Extensions of Choice Behaviour***by*Storcken, T.J. & Ruys, P.H.**9211 Endogenous Timing in a Game with Incomplete Information***by*Albaek, S.**9209 Upstream Pricing and Advertising Signal Downstream Demand***by*Albaek, S. & Overgaard, P.B.**9208 How Sensitive are Average Derivatives?***by*Hardle, W. & Tsybakov, A.B.**9207 Incomplete Panels and Selection Bias: A Survey***by*Verbeek, M. & Nijman, T.**9206 Applied Nonparametric Methods***by*Hardle, W.**9205 Money and Specialization in Production***by*Siandra, E.**9204 Strategies for Growth in a Macroeconomic Setting***by*van de Klundert, T. & Smulders, S.**9203 The Axiomatic Basis of Anticipated Utility: A Clarification***by*Quiggin, J. & Wakker, P.**9202 Strategies for Growth in a Macroeconomic Setting***by*van de Klundert, T. & Smulders, S.**9201 Minimum MSE Estimatin of a Regression Model with Fixed Effects from a Series of Cross Sections***by*Verbeek, M. & Nijman, T.

### 1991

**9170 Equilibrium Selection in Stag Hunt Games***by*Carlsson, H. & Van Dame, E.**9169 Individual and Collective Time Consistency***by*Asheim, G.B.**9168 Recent Developments in Modeling Volatility in Financial Data***by*Nijman, T.E. & Palm, F.C.**9167 Strategic Advertising and Pricing with Sequential Buyer Search***by*Stahl II, D.O.**9166 Evolution of Smart Players***by*Stahl II, D.O.**9165 Selecting Estimated Models Using Chi-Square Statistics***by*Vuong, Q.H. & Wang, W.**9164 The Stable Value***by*Greenberg, J.**9163 The Missing Equilibria in Hotelling's Location Game***by*Bester, H. & de Palma, A. & Leininger, W.**9162 Sovereign Debt, Creditor-Country Governments, and Multilateral Institutions***by*Bhattacharya, S.**9161 Centralized and Decentralized Decision Making on social Insurance in an Integrated Market***by*Lejour, A.M. & Verbon, H.A.**9160 Bands and Statistical Properties of EMS Exchange Rates: A Monte Carlo Investigation of Three Traget Zone Model***by*Beetsma, R.M.W.J.**9159a Intersection Theorems on the Unit Simplex and the Simplotope***by*Talman, A.J.J.**9159 The Risk Properties of A Pre-Test Estimator for Zellner's Seemingly Unrelated Model***by*Ozcam, A. & Judge, G. & Bera, A. & Yancey, T.**9158 A Model of price Advertising and Sales***by*Bester, H.**9156 Economies in Transition***by*Le Blanc, B.**9155 A Univariate Analysis of EMS Exchange Rates Using a Target Zone Model***by*De Jong , F.**9154 Information Matrix Test, Parameter Heterogeneity and Arch : A Synthesis***by*Bera, A.K & Lee, S.**9153 Bayesian Inference in Time Series***by*Steel, M.F.J.**9152 Bear Sequeese, Volatility Spillovers and Speculative Attacks inthe Hyperinflation 1920s Foreign Exchange***by*Baillie, R.T. & Bollerslev, T. & Redfearn, M.**9151 Consumer Allocation Models: Choice of Functional Form***by*Barten, A.**9150 A Decision Theoretic Analysis of the Unit Root Hypothesis Using Mixtures of Elliptical Models***by*Koop, G. & Steel, M.F.J.**9149 Intertemporal Speculation , Shortages annd the Political Economy of Price Reform***by*Van Wijnbergen, S.**9148 Trade Reform, Policy Uncertainty and the Current Account : A Non-Expected Utility Approach***by*Van Wijnbergen, S.