Econometrica

Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica - Volume 50

Issue 1

Back Matter

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Front Matter

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Submission of Manuscripts to Econometrica

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Maximum Likelihood Estimation of Misspecified Models

Halbert White
p. 1-26

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Price-Quantity Strategic Market Games

Pradeep Dubey
p. 111-126

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A Market Value Approach to Approximate Equilibria

Robert M. Anderson
p. 127-136

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Decentralization and Epsilon-Rational Competitive Equilibria

Kenneth M. Kletzer, Steven M. Goldman
p. 137-144

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Voting with Proportional Veto Power

H. Moulin
p. 145-162

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Origins of Exploitation and Class: Value Theory of Pre-Capitalist Economy

John E. Roemer
p. 163-192

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Inequality Decomposition by Factor Components

A. F. Shorrocks
p. 193-212

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Tobin's Marginal q and Average q: A Neoclassical Interpretation

Fumio Hayashi
p. 213-224

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Notes and Comments: Theoretical Restrictions on the Parameters of Indirect Addilog Demand Equations--A Comment

K. N. Murty
p. 225-228

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Notes and Comments: A Note on Seemingly Unrelated Regressions

Denis Conniffe
p. 229-233

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A Call for Papers: 1982 Summer Meeting of the Econometric Society

p. 234-235

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Accepted Manuscripts

p. 235-237

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European Meeting of the Econometric Society, Dublin 1982: Announcement and Call for Papers

p. 235-235

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Nomination of Fellows, 1982

p. 235-235

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News Notes

p. 237-238

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Report of the Secretary

Julie P. Gordon
p. 239-242

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Report of the Treasurer

Robert J. Gordon
p. 243-248

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Report of the Editor

Hugo Sonnenschein
p. 249-250

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The Econometric Society Second Latin American Regional Meeting

p. 251-258

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Program of the 1981 European Meeting of the Econometric Society

p. 258-273

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On the Asymptotic Properties of Estimators of Models Containing Limited Dependent Variables

Peter M. Robinson
p. 27-42

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Erratum: Approximations to Some Finite Sample Distributions Associated with the First Order Stochastic Difference Equations

P. C. B. Phillips
p. 274-274

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Robust Tests for Heteroscedasticity Based on Regression Quantiles

Gilbert Bassett, Jr., Roger Koenker
p. 43-62

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Likelihood Ratio Test, Wald Test, and Kuhn-Tucker Test in Linear Models with Inequality Constraints on the Regression Parameters

Alain Monfort, Alberto Holly, Christian Gourieroux
p. 63-80

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An Algorithm for FIML and 3SLS Estimation of Large Nonlinear Models

William R. Parke
p. 81-96

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Perfect Equilibrium in a Bargaining Model

Ariel Rubinstein
p. 97-110

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Issue 2

[Photograph]: Marc Nerlove, President of the Econometric Society, 1981; First Vice-President of the Econometric Society, 1980; Second Vice-President of the Econometric Society, 1979

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Back Matter

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Front Matter

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Submission of Manuscripts to Econometrica

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Expected Utility Analysis without the Independence Axiom

Mark J. Machina
p. 277-324

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Strategic Behavior in Decentralized Planning Procedures

Guy Laroque, Paul Champsaur
p. 325-344

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Inventory Stability and Resource Allocation under Uncertainty in a Command Economy

Richard E. Ericson
p. 345-376

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Invariant Distributions and the Limiting Behavior of Markovian Economic Models

Carl A. Futia
p. 377-408

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Rational Expectations in Dynamic Linear Models: Analysis of the Solutions

A. Monfort, C. Gourieroux, J. J. Laffont
p. 409-426

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A Support Price Theorem for the Continuous Time Model of Capital Accumulation

Shin-Ichi Takekuma
p. 427-442

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Limit Pricing and Entry under Incomplete Information: An Equilibrium Analysis

John Roberts, Paul Milgrom
p. 443-460

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The Sensitivity of Consumption to Transitory Income: Estimates from Panel Data on Households

Frederic S. Mishkin, Robert E. Hall
p. 461-482

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Instrumental Variables Regression with Independent Observations

Halbert White
p. 483-500

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An Improved Version of the Quandt-Ramsey MGF Estimator for Mixtures of Normal Distributions and Switching Regressions

Peter Schmidt
p. 501-516

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Notes and Comments: A Note on Measuring Immobility

John Conlisk
p. 517-524

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Notes and Comments: Welfare Consequences of Spatial Competition: A Note

H. Ohta
p. 525-526

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Notes and Comments: Dominance Solvable Voting Schemes: A Comment

Rodney J. Gretlein
p. 527-528

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Latin American Meeting of the Econometric Society--Mexico City, 1982: Announcement and Call for Papers

p. 529-530

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Nomination of Fellows, 1982

p. 530-530

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Accepted Manuscripts

p. 531-532

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News Notes

p. 532-534

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Issue 3

Back Matter

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Front Matter

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Submission of Manuscripts to Econometrica

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Asset Valuation in an Experimental Market

Charles R. Plott, Robert Forsythe, Thomas R. Palfrey
p. 537-568

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The General Equivalence of Granger and Sims Causality

Gary Chamberlain
p. 569-582

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A Note on Noncausality

J. P. Florens, M. Mouchart
p. 583-592

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Pairwise, t-Wise, and Pareto Optimalities

Ross M. Starr, Steven M. Goldman
p. 593-606

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A Theory of Disagreement in Bargaining

Vincent P. Crawford
p. 607-638

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Risk Aversion and Nash's Solution for Bargaining Games with Risky Outcomes

Alvin E. Roth, Uriel G. Rothblum
p. 639-648

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Selection and the Evolution of Industry

Boyan Jovanovic
p. 649-670

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A Dynamic Game of R and D: Patent Protection and Competitive Behavior

Jennifer F. Reinganum
p. 671-688

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Two Stage Least Absolute Deviations Estimators

Takeshi Amemiya
p. 689-712

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A Class of Decompositions of the Variance-Covariance Matrix of a Generalized Error Components Model

Arie Kapteyn, Tom Wansbeek
p. 713-724

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Sets of Posterior Means with Bounded Variance Priors

Edward E. Leamer
p. 725-736

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Conflict Among the Criteria Revisited; The W, LR and LM Tests

G. B. A. Evans, N. E. Savin
p. 737-748

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A Remark on Hausman's Specification Test

Alberto Holly
p. 749-760

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Notes and Comments: A Computationally Efficient Quadrature Procedure for the One-Factor Multinomial Probit Model

J. S. Butler, Robert Moffitt
p. 761-764

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Notes and Comments: On the Estimation of Structural Hedonic Price Models

Harvey S. Rosen, James N. Brown
p. 765-768

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Notes and Comments: Exploitation of Many Deposits of an Exhaustible Resource: Comment

Robert C. Drury
p. 769-774

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Notes and Comments: Efficiency of Non-Walrasian Equilibria: A Note

Paul Madden
p. 775-776

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Notes and Comments: Revealed Preference: An Elementary Treatment

Dieter Sondermann
p. 777-780

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Corrigendum: Stability, Disequilibrium Awareness, and the Perception of New Opportunities: Some Corrections

Fernando M. C. B. Saldanha, Franklin M. Fisher
p. 781-784

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1983 Summer Meeting of the Econometric Society: Call for Papers

p. 785-785

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Latin American Meeting of the Econometric Society--Mexico City, 1982: Announcement and Call for Papers

p. 785-787

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Accepted Manuscripts

p. 787-787

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News Notes

p. 787-789

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1981 Election of Fellows of the Econometric Society

p. 790-794

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Fellows of the Econometric Society as of January, 1982

p. 795-806

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Program of the 1981 North American Winter Meeting of the Econometric Society

p. 807-821

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Erratum: Spurious Periodicity in Innappropriately Detrended Time Series

Charles R. Nelson, Heejoon Kang
p. 822-822

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Issue 4

Back Matter

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Front Matter

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Submission of Manuscripts to Econometrica

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Evaluation of the Distribution Function of the Limited Information Maximum Likelihood Estimator

Naoto Kunitomo, T. W. Anderson, Takamitsu Sawa
p. 1009-1028

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Large Sample Properties of Generalized Method of Moments Estimators

Lars Peter Hansen
p. 1029-1054

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Notes and Comments: An Investigation of the Robustness of the Tobit Estimator to Non-Normality

Abbas Arabmazar, Peter Schmidt
p. 1055-1064

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Notes and Comments: Note on Estimating Linear Trend when Residuals are Autocorrelated

Walter Kramer
p. 1065-1068

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Notes and Comments: A Stronger Characterization of Declining Risk Aversion

Mark J. Machina
p. 1069-1080

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Notes and Comments: Sufficient Conditions for Extracting Least Cost Resource First

Tracy R. Lewis
p. 1081-1083

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1983 Summer Meeting of the Econometric Society: Call for Papers

p. 1084-1084

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Accepted Manuscripts

p. 1084-1085

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News Notes

p. 1086-1086

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Erratum: A Limited Information Specification Test

David E. Spencer, Kenneth N. Berk
p. 1087-1087

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Inflation, Tax Rules and Investment: Some Econometric Evidence

Martin Feldstein
p. 825-862

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Sequential Equilibria

David M. Kreps, Robert Wilson
p. 863-894

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The Determination of Marginal Cost Prices under a Set of Axioms

Dov Samet, Yair Tauman
p. 895-910

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Regulating a Monopolist with Unknown Costs

David P. Baron, Roger B. Myerson
p. 911-930

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Acyclic Collective Choice Rules

Douglas H. Blair, Robert A. Pollak
p. 931-944

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The Nonparametric Approach to Demand Analysis

Hal R. Varian
p. 945-974

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On the Transversality Condition in Infinite Horizon Optimal Problems

Phillippe Michel
p. 975-986

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Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation

Robert F. Engle
p. 987-1008

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Issue 5

Back Matter

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Front Matter

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Submission of Manuscripts to Econometrica

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A Theory of Auctions and Competitive Bidding

Paul R. Milgrom, Robert J. Weber
p. 1089-1122

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The Role of Information in Bargaining: An Experimental Study

Alvin E. Roth, J. Keith Murnighan
p. 1123-1142

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Information in Production

Glenn M. MacDonald
p. 1143-1162

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On the Possibility of Speculation under Rational Expectations

Jean Tirole
p. 1163-1182

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Micro-Based Estimates of Demand Functions for Local School Expenditures

Daniel L. Rubinfeld, Perry Shapiro, Theodore C. Bergstrom
p. 1183-1206

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Fiscal Incidence at the Local Level

Jorge Martinez-Vazquez
p. 1207-1218

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Relative Prices, Employment, and the Exchange Rate in an Economy with Foresight

Maurice Obstfeld
p. 1219-1242

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Decreasing Costs in International Trade and Frank Graham's Argument for Protection

Wilfred J. Ethier
p. 1243-1268

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Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models

Kenneth J. Singleton, Lars Peter Hansen
p. 1269-1286

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Comparison of Local Power of Alternative Tests of Non-Nested Regression Models

M. H. Pesaran
p. 1287-1306

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On the Consistency of Nonlinear FIML

P. C. B. Phillips
p. 1307-1324

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Notes and Comments: Correction to a Lemma

Takeshi Amemiya
p. 1325-1328

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Notes and Comments: Multiple Shooting in Rational Expectations Models

David Lipton, James Poterba, Jeffrey Sachs, Lawrence Summers
p. 1329-1334

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Notes and Comments: Stability of Aggregation Procedures, Ultrafilters, and Simple Games--A Comment

Eitan Muller
p. 1335-1336

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Notes and Comments: On the Distance between Income Distributions

Anthony F. Shorrocks
p. 1337-1340

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Accepted Manuscripts

p. 1341-1342

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Call for Papers: 1983 Summer Meeting of the Econometric Society

p. 1341-1341

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Issue 6

Back Matter

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Front Matter

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Submission of Manuscripts to Econometrica

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Volume Information

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Time to Build and Aggregate Fluctuations

Edward C. Prescott, Finn E. Kydland
p. 1345-1370

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Costs of Adjustment and the Spatial Pattern of a Growing Open City

David Pines, Oded Hochman
p. 1371-1392

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The Economic Theory of Index Numbers and the Measurement of Input, Output, and Productivity

Douglas W. Caves, Laurits R. Christensen, W. Erwin Diewert
p. 1393-1414

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Information Acquisition in a Noisy Rational Expectations Economy

Robert E. Verrecchia
p. 1415-1430

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Strategic Information Transmission

Joel Sobel, Vincent P. Crawford
p. 1431-1451

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Efficiency of Resource Allocation by Uninformed Demand

Sergiu Hart, Theodore Groves
p. 1453-1482

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Job Matching, Coalition Formation, and Gross Substitutes

Alexander S. Kelso, Jr., Vincent P. Crawford
p. 1483-1504

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Market Behavior in a Clearing House

Haim Mendelson
p. 1505-1524

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Portfolio Efficient Sets

Philip H. Dybvig, Stephen A. Ross
p. 1525-1546

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A Decomposition Algorithm for General Equilibrium Computation with Application to International Trade Models

Ahsan Mansur, John Whalley
p. 1547-1557

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Estimation and Hypothesis Testing in Dynamic Singular Equation Systems

G. J. Anderson, R. W. Blundell
p. 1559-1572

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Notes and Comments: A Note on the Estimation of Symmetric Systems

R. P. Byron
p. 1573-1576

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Notes and Comments: Tests of Linear Hypotheses and l"1 Estimation

Gilbert Bassett, Roger Koenker
p. 1577-1584

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Notes and Comments: Simultaneous Equations Analysis of Fertility in the U.S.: A Comment

Basudeb Biswas, Rati Ram
p. 1585-1590

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Call for Papers: 1983 Summer Meeting of the Econometric Society

p. 1591-1592

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European Meeting of the Econometric Society, Pisa 1983: Announcement and Call for Papers

p. 1591-1591

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Nomination of Fellows, 1983

p. 1591-1591

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Accepted Manuscripts

p. 1592-1593

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News Notes

p. 1593-1595

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Erratum: A Computationally Efficient Quadrature Procedure for the One-Factor Multinomial Probit Model

J. S. Butler, Robert Moffitt
p. 1596-1596

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