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 57

Issue 1

Back Matter

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Front Matter

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Submission of Manuscripts to Econometrica

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Efficient and Competitive Rationing

Robert Wilson
p. 1-40

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Implementation with Incomplete Information in Exchange Economies

Sanjay Srivastava, Thomas R. Palfrey
p. 115-134

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The Structure of Financial Equilibrium with Exogenous Yields: The Case of Incomplete Markets

David Cass, Yves Balasko
p. 135-162

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Asset Demand Without the Independence Axiom

Eddie Dekel
p. 163-169

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Testing For Common Roots

A. Monfort, C. Gourieroux, E. Renault
p. 171-185

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1989 Far Eastern Meeting of the Econometric Society: Announcement and Call for Papers

p. 187-187

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Nomination of Fellows, 1989

p. 187-187

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Call for Papers: 1989 North American Summer Meeting of the Econometric Society

p. 188-189

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9th Latin American Meeting of the Econometric Society--1989, Santiago, Chile: Announcement and Call for Papers

p. 189-192

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Australasian Meeting of the Econometric Society: Announcement and Call for Papers

p. 189-189

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Announcement and Call for Papers: North American Winter Meeting of the Econometric Society

p. 192-194

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European Meeting of the Econometric Society, Munich, Federal Republic of Germany, 1989: Announcement and Call for Papers

p. 192-192

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Accepted Manuscripts

p. 194-195

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News Notes

p. 197-201

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Report of the Secretary

Julie P. Gordon
p. 203-209

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Report of the Treasurer

Robert J. Gordon
p. 210-217

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Report of the Editors

Angus S. Deaton, David Kreps, Lars-Peter Hansen, Roger Guesnerie
p. 218-220

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The Econometric Society Research Monograph Series: Report of the Editors

Charles Manski, Jean-Michel Grandmont
p. 221-221

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Submission of Manuscripts to the Econometric Society Monograph Series

p. 222-222

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Program of the Eighth Latin American Meeting of the Econometric Society

p. 223-236

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Program of the 1988 Australasian Meeting of the Econometric Society

p. 237-244

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Program of the 1988 European Meeting of the Econometric Society

p. 245-272

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Erratum: Conditions for Unique Solutions in Stochastic Macroeconomic Models with Rational Expectations

John B. Taylor
p. 273-273

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Optimal Price Dynamics and Speculation with a Storable Good

Roland Benabou
p. 41-80

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Bargaining Foundations of Shapely Value

Faruk Gul
p. 81-95

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Noncooperative Bargaining and Spatial Competition

Helmut Bester
p. 97-113

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Issue 2

[Photograph]: Anthony B. Atkinson, President of the Econometric Society, 1988; First Vice-President of the Econometric Society, 1987; Second Vice-President of the Econometric Society, 1986

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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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Econometrics and the Design of Economic Reform

Michael Bruno
p. 275-306

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Likelihood Ratio Tests for Model Selection and Non-Nested Hypotheses

Quang H. Vuong
p. 307-333

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Nonlinear Hypotheses, Inequality Restrictions, and Non-Nested Hypotheses: Exact Simultaneous Tests in Linear Regressions

Jean-Marie Dufour
p. 335-355

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A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle

James D. Hamilton
p. 357-384

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Estimating the Value of an In-Kind Transfer: The Case of Food Stamps

Robert Moffitt
p. 385-409

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On the Covariance Structure of Earnings and Hours Changes

David Card, John M. Abowd
p. 411-445

Full ContentAbstract

Implicit Contracts, Incentive Compatibility, and Involuntary Unemployment

James M. Malcomson, W. Bentley MacLeod
p. 447-480

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Fertility Choice in a Model of Economic Growth

Gary S. Becker, Robert J. Barro
p. 481-501

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Accepted Manuscripts

p. 503-504

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Nomination of Fellows, 1989

p. 503-503

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News Notes

p. 505-506

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Report of the President

A. B. Atkinson
p. 507-509

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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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Reputation in Bargaining and Durable Goods Monopoly

Lawrence M. Ausubel, Raymond J. Deneckere
p. 511-531

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Multiproduct Duopolists

Jean-Charles Rochet, Paul Champsaur
p. 533-557

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The College Admissions Problem Revisited

Alvin E. Roth, Marilda Sotomayor
p. 559-570

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Subjective Probability and Expected Utility without Additivity

David Schmeidler
p. 571-587

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Potential, Value, and Consistency

Andreu Mas-Colell, Sergiu Hart
p. 589-614

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A Concept of Egalitarianism Under Participation Constraints

Bhaskar Dutta, Debraj Ray
p. 615-635

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Election Goals and the Allocation of Campaign Resources

James M. Snyder
p. 637-660

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An Edgeworth Test Size Correction for the Linear Model with AR(1) Errors

Lonnie Magee
p. 661-674

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Notes and Comments: A Uniform Law of Large Numbers for Dependent and Heterogeneous Data Processes

Benedikt M. Potscher, Ingmar R. Prucha
p. 675-683

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Notes and Comments: Alternative Tests of the Error Components Model

Brent R. Moulton, William C. Randolph
p. 685-693

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Notes and Comments: Efficient Estimation Using Panel Data

Grayham E. Mizon, Peter Schmidt, Trevor S. Breusch
p. 695-700

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Notes and Comments: A Demand System Rank Theorem

Arthur Lewbel
p. 701-705

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Notes and Comments: A Note on Bankruptcy Rules and Credit Constraints in Temporary Equilibrium

Jurgen Eichberger
p. 707-715

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Accepted Manuscripts

p. 717-717

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News Notes

p. 719-720

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1988 Election of Fellows to the Econometric Society

p. 721-725

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Fellows of the Econometric Society as of February, 1989

p. 727-740

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Program of the 1988 North American Winter Meetings of the Econometric Society

p. 741-757

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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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Reputation and Equilibrium Selection in Games with a Patient Player

David K. Levine, Drew Fudenberg
p. 759-778

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Mortality Risk and Bequests

Michael D. Hurd
p. 779-813

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The Random Utility Hypothesis and Inference in Demand Systems

Bryan W. Brown, Mary Beth Walker
p. 815-829

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Estimation of Multi-Market Fix-Price Models: An Application of Pseudo Maximum Likelihood Methods

Bernard Salanie, Guy Laroque
p. 831-860

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Econometric Analysis of Aggregation in the Context of Linear Prediction Models

M. H. Pesaran, M. S. Kumar, R. G. Pierse
p. 861-888

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Learning Rational Expectations Under Computability Constraints

Stephen E. Spear
p. 889-910

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On the Inventory Cycle and the Instability of the Competitive Mechanism

Guy Laroque
p. 911-935

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Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework

Larry G. Epstein, Stanley E. Zin
p. 937-969

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Notes and Comments: Hajek Inequalities, Measures of Leverage and the Size of Heteroskedasticity Robust Wald Tests

Andrew Chesher
p. 971-977

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Notes and Comments: The Weak Axiom of Revealed Preference for Market Demand Is Strong

Werner Hildenbrand
p. 979-985

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1990 World Congress of the Econometric Society: Announcement and Call For Papers

p. 987-992

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Empirical Applications of Structural Models: Call For Papers

p. 987-987

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Accepted Manuscripts

p. 992-992

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News Notes

p. 993-993

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Submission of Manuscripts to the Econometric Society Monograph Series

p. 994-994

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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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Simulation and the Asymptotics of Optimization Estimators

Ariel Pakes, David Pollard
p. 1027-1057

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Power in Econometric Applications

Donald W. K. Andrews
p. 1059-1090

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Seminonparametric Estimation of Conditionally Constrained Heterogeneous Processes: Asset Pricing Applications

A. Ronald Gallant, George Tauchen
p. 1091-1120

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A Test of the Efficiency of a Given Portfolio

Jay Shanken, Michael R. Gibbons, Stephen A. Ross
p. 1121-1152

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Expectation and Variation in Multi-Period Decisions

Itzhak Gilboa
p. 1153-1169

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Extensive Form Games in Continuous Time: Pure Strategies

Leo K. Simon, Maxwell B. Stinchcombe
p. 1171-1214

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Notes and Comments: Occupational Choice under Uncertainty When Experience Is a Determinant of Earnings

Rachel Connelly
p. 1215-1219

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Notes and Comments: Sampling Performance of Some Joint One-Sided Preliminary Test Estimators under Squared Error Loss

G. G. Judge, Robert Bohrer, T. A. Yancey
p. 1221-1228

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1990 World Congress of the Econometric Society: Announcement and Call for Papers

p. 1229-1234

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Empirical Applications of Structural Models: Call for Papers

p. 1229-1229

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North American Winter Meetings of the Econometric Society: Announcement and Call for Papers

p. 1234-1236

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Accepted Manuscripts

p. 1236-1237

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News Notes

p. 1239-1239

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Erratum: Job Matching, Coalition Formation, and Gross Substitutes

Alexander S. Kelso
p. 1241-1241

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A Method of Simulated Moments for Estimation of Discrete Response Models Without Numerical Integration

Daniel McFadden
p. 995-1026

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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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Supply Function Equilibria in Oligopoly under Uncertainty

Margaret A. Meyer, Paul D. Klemperer
p. 1243-1277

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The Consumption-Based Capital Asset Pricing Model

Darrell Duffie, William Zame
p. 1279-1297

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Proper Posteriors from Improper Priors for an Unidentified Errors-in-Variables Model

Timothy Erickson
p. 1299-1316

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Bayesian Inference in Econometric Models Using Monte Carlo Integration

John Geweke
p. 1317-1339

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t Test in a Structural Equation

Kimio Morimune
p. 1341-1360

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The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis

Pierre Perron
p. 1361-1401

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Semiparametric Estimation of Index Coefficients

James H. Stock, James L. Powell, Thomas M. Stoker
p. 1403-1430

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Notes and Comments: Observable Implications of Models with Multiple Equilibria

Boyan Jovanovic
p. 1431-1437

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Notes and Comments: A Note on the Quadratic Expenditure Model

Arnold H. Q. M. Merkies, Jan Van Daal
p. 1439-1443

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Notes and Comments: Consistent Plans, Consequentialism, and Expected Utility

Peter J. Hammond
p. 1445-1449

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Notes and Comments: Extracting the Surplus in the Common-Value Auction

John McMillan, Philip J. Reny, R. Preston McAfee
p. 1451-1459

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1990 World Congress of the Econometric Society: Announcement and Call For Papers

p. 1461-1466

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Nomination of Fellows, 1990

p. 1461-1461

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North American Winter Meetings of the Econometric Society: Announcement and Call For Papers

p. 1466-1468

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Accepted Manuscripts

p. 1468-1469

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News Notes

p. 1471-1472

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Program of the 1989 Far Eastern Meeting of the Econometric Society

p. 1473-1481

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Program of the 1989 North American Summer Meeting of the Econometric Society

p. 1483-1491

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Program of the 1989 Australasian Meeting of Econometric Society

p. 1493-1499

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Erratum: A Theory of Dynamic Oligopoly, II

Erick Maskin, Jean Tirole
p. 1501-1501

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