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SSRN Research Paper Series
The Social Science Research Network’s Research Paper Series includes working papers produced by Stanford GSB and the Rock Center.
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Trade Policy, Development, and the New Political Economy
This paper considers some political economy aspects of trade policy in the less developed countries—more than 30 years on. A more literary title might be “Ideas, Ideology, and Interests.” Writing in the 1950’s Meier and Baldwin [1957], as still…
Coordination and the Potential for Self-Sacrifice
An extension of games is proposed, where players are given the option of incurring costs. This extension allows players to signal their intended strategy in the original game. We apply the logic of forwards and backwards induction, without…
Further Distribution Results for Correlation Coefficients and F Tests in Normal Samples
Fisher’s finite sample distribution results for squared multiple correlation coefficients and F tests are extended to situations in which the observations are drawn from independent, but not necessarily identical, normal samples. This…
Longer Trading Periods in the Townsend Turnpike Model
Abstract not available.
A Model Of Optimal Equilibrium Growth
Our aim in these notes is to exposit a model of optimal equilibrium growth. The model is strictly in the Solow tradition. The model has two features which distinguish it from most other work on the subject. These are, first, that the model is…
Nearly Redundant Parameters and Measures of Persistence in Economic Time Series
Many economic time series are nonstationary, apparently exhibiting persistent cycles around a smoothly growing trend. First-differencing removes the nonstationarity, but creates another problem: near parameter redundancy. This paper explores the…
On the Competitive Pressure Created by the Diffusion of Innovations
We consider the decision of a dominant firm to adopt (part or all of) a sequence of potential cost-reducing innovations, as well as the precise time sequence of adoption, when a fixed cost must be incurred at the date of adoption, and the latest…
Power Functions of Some Common Regression Tests
This paper reviews and extends nonnull distribution results for ratios of normal quadratic forms found in R2S, F-tests, and likelihood ratio criteria. The extensions cover misspecified regression models and models with normal scale mixture errors…
The Complexity of Computing a Best Response Automaton in Repeated Games with Mixed Strategies
I examine the complexity of computing a best response automaton in a two-person repeated game when there is uncertainty about the automaton selected by the other player. There are two versions of this problem: 1. Finding a best response automaton…
Entry in Monopoly Markets
Existing empirical models of entry in concentrated markets make indirect inferences about the competitive effect of entry. We propose empirical models whose structural equations are those of several different game-theoretic models of entry. These…
Alternative Non-nested Specification Tests of Time Series Investment Models
This paper develops and compares nonnested hypothesis tests for linear regression models with first-order serially correlated errors. It extends the nonnested testing procedures of Pesaran, Fisher and MacAleer, and Davidson and MacKinnon, and…
An Equilibrium Model with Keynesian Unemployment at Walrasian Prices
One of the oldest and most central open problems confronting economic theory is to reconcile the fact of involuntary unemployment with the hypothesis of equilibrium by constructing a closed, reasonably complete economic model which admits such…
Competitive Efficiency Wage Models with Keynesian Features
Competitive general equilibrium models with efficiency wage features are used to analyze some Keynesian propositions. The models are characterized by fully optimizing agents, flexible prices, competitive markets, and absence of demand uncertainty…
Contributions to The New Palgrave
This “paper” consists of six separate, individually authored entries to appear in “The New Palgrave: A Dictionary of Economic Theory and Doctrine”. The contributions are: “Nash Equilibrium” by Kreps, “Large Economies,” “Lindahl Equilibrium and “…
Detecting Multiple Outliers with an Application to R&D Productivity Studies
Multiple outlying observations are frequently encountered in applied studies in business and economics. Several multiple outlier tests exist, but little evidence is available on their relative power against alternative types of outliers and…
Dynamic Price Games With Learning-by-Doing
Learning-by-doing and increasing returns are often perceived to have similar implications for industrial concentration. We analyze this issue in the context of an infinite horizon. price-setting game. A complete characterization of market sharing…
Excess Capacity as a Barrier to Entry: An Empirical Appraisal
This paper examines excess capacity barriers to entry and investment dynamics in a sample of thirty-eight chemical product industries. Logit and log-linear models of investment behavior are estimated, and specific case examples are considered.…