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Articles 2401 - 2430 of 2768

Full-Text Articles in Social and Behavioral Sciences

Fiat Money In An Economy With One Nondurable Good And No Credit (A Noncooperative Sequential Game), Martin Shubik, Ward Whitt Mar 1973

Fiat Money In An Economy With One Nondurable Good And No Credit (A Noncooperative Sequential Game), Martin Shubik, Ward Whitt

Cowles Foundation Discussion Papers

No abstract provided.


The Theory Of ‘Screening’, Education, And The Distribution Of Income, Joseph E. Stiglitz Mar 1973

The Theory Of ‘Screening’, Education, And The Distribution Of Income, Joseph E. Stiglitz

Cowles Foundation Discussion Papers

No abstract provided.


Some Observations On ‘Optimal’ Economic Growth And Exhaustible Resources, Tjalling C. Koopmans Mar 1973

Some Observations On ‘Optimal’ Economic Growth And Exhaustible Resources, Tjalling C. Koopmans

Cowles Foundation Discussion Papers

No abstract provided.


Game Theory And Political Science, Martin Shubik Feb 1973

Game Theory And Political Science, Martin Shubik

Cowles Foundation Discussion Papers

There are several topics in political science to which the application of game theory is prima facie appealing. They are voting, the study of power, diplomacy, negotiation and bargaining behavior, coalition formation among political groups and logrolling. This brief survey is by no means intended to be comprehensive but is intended to serve as a guide to some of the more immediate applications of game theory to political science.


Money And The Decentralization Of Exchange, Joseph M. Ostroy, Ross M. Starr Jan 1973

Money And The Decentralization Of Exchange, Joseph M. Ostroy, Ross M. Starr

Cowles Foundation Discussion Papers

A pairwise trading process is formulated subject to conditions of nonnegativity of traders’ holdings and quid pro quo. It is shown that that: (i) There is a centralized procedure that achieves the equilibrium allocation for an arbitrary economy. (ii) It is not in general possible to find a decentralized procedure that achieves the equilibrium allocation for an arbitrary economy. (iii) In a monetary economy there is a decentralized procedure that achieves the equilibrium allocation. The usefulness of money is that it allows decentralization of the trading process.


A Note On The Shape Of The Pareto Optimal Surface, Gordon H. Bradley, Martin Shubik Jan 1973

A Note On The Shape Of The Pareto Optimal Surface, Gordon H. Bradley, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


Technological Development And Employment, James Tobin Dec 1972

Technological Development And Employment, James Tobin

Cowles Foundation Discussion Papers

No abstract provided.


Information, Duopoly And Competitive Markets: A Sensitivity Analysis, Martin Shubik Nov 1972

Information, Duopoly And Competitive Markets: A Sensitivity Analysis, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


Social Choice On Pollution Management: The Genossenschaften, Alvin K. Klevorick, Gerald H. Kramer Oct 1972

Social Choice On Pollution Management: The Genossenschaften, Alvin K. Klevorick, Gerald H. Kramer

Cowles Foundation Discussion Papers

No abstract provided.


Input Quality, Obsolescence And Unemployment, J. Kirker Stephens Oct 1972

Input Quality, Obsolescence And Unemployment, J. Kirker Stephens

Cowles Foundation Discussion Papers

No abstract provided.


Existence Of A “Local” Cooperative Equilibrium In A Class Of Voting Games, Gerald H. Kramer, Alvin K. Klevorick Aug 1972

Existence Of A “Local” Cooperative Equilibrium In A Class Of Voting Games, Gerald H. Kramer, Alvin K. Klevorick

Cowles Foundation Discussion Papers

No abstract provided.


Some Further Results On The Measurement Of Inequality, Michael Rothschild, Joseph E. Stiglitz Jul 1972

Some Further Results On The Measurement Of Inequality, Michael Rothschild, Joseph E. Stiglitz

Cowles Foundation Discussion Papers

No abstract provided.


Existence Of A Competitive Equilibrium In A Nonstandard Exchange Economy, Donald J. Brown Jul 1972

Existence Of A Competitive Equilibrium In A Nonstandard Exchange Economy, Donald J. Brown

Cowles Foundation Discussion Papers

No abstract provided.


Voting Behavior And Aggregate Policy Targets, Susan J. Lepper May 1972

Voting Behavior And Aggregate Policy Targets, Susan J. Lepper

Cowles Foundation Discussion Papers

No abstract provided.


Benefit-Cost Analysis And Trade Policies, Partha Dasgupta, Joseph E. Stiglitz Apr 1972

Benefit-Cost Analysis And Trade Policies, Partha Dasgupta, Joseph E. Stiglitz

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions. Part Viii. Transactions Costs In A Market Economy, Martin Shubik Apr 1972

A Theory Of Money And Financial Institutions. Part Viii. Transactions Costs In A Market Economy, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


Political Business Cycle, William D. Nordhaus Apr 1972

Political Business Cycle, William D. Nordhaus

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions. Part Ix. Competitive And Controlled Price Economies: The Arrow-Debreu Model Revisited, Martin Shubik Apr 1972

A Theory Of Money And Financial Institutions. Part Ix. Competitive And Controlled Price Economies: The Arrow-Debreu Model Revisited, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


On The Irrelevance Of Corporate Financial Policy, Joseph E. Stiglitz Apr 1972

On The Irrelevance Of Corporate Financial Policy, Joseph E. Stiglitz

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions. Part Vi. The Rate Of Interest, Noncooperative Equilibrium And Bankruptcy, Lloyd S. Shapley, Martin Shubik Apr 1972

A Theory Of Money And Financial Institutions. Part Vi. The Rate Of Interest, Noncooperative Equilibrium And Bankruptcy, Lloyd S. Shapley, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions. Part V. The Rate Of Interest On Fiat Money In A Closed Economy, Martin Shubik Apr 1972

A Theory Of Money And Financial Institutions. Part V. The Rate Of Interest On Fiat Money In A Closed Economy, Martin Shubik

Cowles Foundation Discussion Papers

In a well controlled monetary economy with no uncertainty and a money market, money is not merely a veil, it is a cocoon. There are no idle cash balances in a competitive monetary economy with a money market without uncertainty. The presence of uncertainty calls for the holding of cash. In a trading economy with perfect foresight, without taxes, but with traders having positive time discounts the rate of interest on paper money is positive. With uncertainty, fiat money is a form of insurance or generalized futures contract. The mathematical differences among static general equilibrium theory, a theory of money …


Alternative Theories Of Wage Determination And Unemployment In L.D.C.’S: I. The Labor Turn-Over Model, Joseph E. Stiglitz Apr 1972

Alternative Theories Of Wage Determination And Unemployment In L.D.C.’S: I. The Labor Turn-Over Model, Joseph E. Stiglitz

Cowles Foundation Discussion Papers

No abstract provided.


Notes On Transactions Costs And The Analysis Of Microeconomic Theory, Ross M. Starr Mar 1972

Notes On Transactions Costs And The Analysis Of Microeconomic Theory, Ross M. Starr

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions. Part Vii. Money, Trust And Equilibrium Points In Games In Extensive Form, Martin Shubik Feb 1972

A Theory Of Money And Financial Institutions. Part Vii. Money, Trust And Equilibrium Points In Games In Extensive Form, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


The Effect Of Inflation On The Distribution Of Economic Welfare, William D. Nordhaus Feb 1972

The Effect Of Inflation On The Distribution Of Economic Welfare, William D. Nordhaus

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions. Part Iv. Fiat Money And Noncooperative Equilibrium In A Closed Economy, Martin Shubik Feb 1972

A Theory Of Money And Financial Institutions. Part Iv. Fiat Money And Noncooperative Equilibrium In A Closed Economy, Martin Shubik

Cowles Foundation Discussion Papers

Fiat money is a type of paper or symbol with which any individual may buy most things by law. It has virtually no intrinsic value but immediately assumes a trading value when its shortage can prevent trades that would have been deemed profitable in a nonmonetary competitive equilibrium system. This paper sketches an approach to a theory of fiat money by investigating the properties of a noncooperative dynamic trading games embedded within a closed economic system. Among the conclusions are that inflation and deflation are not symmetric, and that it is not possible to define a noncooperative game involving borrowing …


A Comparison Of Alternative Estimators For A Dynamic Relationship Estimated From A Time Series Of Cross-Sections When The Disturbances Are Small, Jon K. Peck Jan 1972

A Comparison Of Alternative Estimators For A Dynamic Relationship Estimated From A Time Series Of Cross-Sections When The Disturbances Are Small, Jon K. Peck

Cowles Foundation Discussion Papers

No abstract provided.


A General Equilibrium Calculation Of The Effects Of Differential Taxation Of Income From Capital In The U.S., John B. Shoven, John Whalley Jan 1972

A General Equilibrium Calculation Of The Effects Of Differential Taxation Of Income From Capital In The U.S., John B. Shoven, John Whalley

Cowles Foundation Discussion Papers

No abstract provided.


The Cores Of Large Standard Exchange Economies, Donald J. Brown, Abraham Robinson Jan 1972

The Cores Of Large Standard Exchange Economies, Donald J. Brown, Abraham Robinson

Cowles Foundation Discussion Papers

No abstract provided.


The Marginal Revolution After One Hundred Years, Ronald G. Bodkin Jan 1972

The Marginal Revolution After One Hundred Years, Ronald G. Bodkin

Cowles Foundation Discussion Papers

No abstract provided.