Economic Theory
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This paper studies a general class of pure exchange economies that have multiple equilibria, which...
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There are n boys and m girls. The boys are all expected utility maximizers and...
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Students in a large principles class participated in a market experiment in which they had...
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This paper addresses the question of whether our evolutionary history suggests that humans are likely...
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In many applications,assumptions about the log-concavity of a probability distribution allow just enough special structure...
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Edward Chamberlin conjectured that the number of trades in realistic trading systems is likely to...
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The paper generalizes theorems of Ky Fan and Hugo Sonnenschein on the existence of maximal...
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A retrospective on Vernon Smith's contributions to experimental economics, written for the Scandinavian Journal of...
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How selfish does our evolutionary history suggest that humans will be? We explore models in...
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Suppose that each person's utility depends on his or her own consumption as well as...
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How do rats and squirrels decide how much to hoard for the winter when they...
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In 1951, Paul Samuelson showed that a surprisingly rich class of economies the production possibility...
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If viewers prefer to watch television as soon as they get home from work, how...
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Consider a public utility that offers its service at two different times. We study the...
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This paper was written in the form of two puzzles. One puzzle concerns Romeo and...
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This paper shows that if workers have identical wealths, abilities, and preferences then a draft...
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We present examples of Nash equilibria that do not vary with the distribution of a...
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A question with a nice clean answer. When do market games have transferable utility? Subject...
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One remark explains how Cournot equilibrium responds to taxation on the duopolists. (To maximize revenue,...
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When is the Pareto optimal amount of public goods independent of income distribution? Subject to...
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Can Courtship be Cheatproof? (with Richard Manning), Department of Economics, UCSB (1983)
In 1983, I told Richard Manning about Gale and Shapley's beautiful 1962 paper on matching....
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A Nash equilibria of the Groves-Ledyard mechanism is Pareto optimal. But this may not be...
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This paper develops a "subjectivist" theory of the value that individuals place on risks to...
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This paper finds the conditions under which an allocation branch can determine the efficient amount...
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Cournot's classic oligopoly model has two mineral water sellers whose products are perfect substitutes. Cournot...
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This paper contains a proof of the existence of Lindahl equilibrium in a very general...
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This paper shows how to prove the existence of competitive equilibrium without assuming either monotonic...
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Preferences Which Have Open Graphs (with Robert Parks and Trout Rader), Department of Economics, UCSB (1976)
Gale and Mas-Collel and Shafer and Sonnenschein introduced powerful new theorems on the existence of...
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This paper generalizes results of Ky Fan and Hugo Sonnenschein on the existence of maximal...
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This paper proves that a continuous acyclic relation takes a maximal element on any compact...
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The alpha-core is defined to be the set of feasible allocations such that no coalition...
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This paper shows how to relax several of the standard assumptions used to prove the...
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This paper was my attempt to build a theory of "public factors of production" such...
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This paper presents a model of interrelated preferences for pairs of individuals. It investigates the...
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A famous paper by Conrad and Meyer calculates that on the eve of the American...
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If Persons A and B are both benevolent to C, then a gift from A...
Economics of Altruism
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Transplants of donated stem cells save the lives of many patients with blood diseases. Donation...
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The article focuses on the economics of family partnerships. It states an allegory involving a...
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This paper explores the way that assortative matching can maintain cooperative behavior under evolutionary dynamics.
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Alexander Field was not convinced of a result that I claimed in my JEP 2001...
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Suppose that each person's utility depends on his or her own consumption as well as...
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This paper explores the evolutionary foundations of altruism among siblings and extends biologists' kin-selection theory...
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This paper presents a model of interrelated preferences for pairs of individuals. It investigates the...
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If Persons A and B are both benevolent to C, then a gift from A...
Economics of Publications
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The impact factor of an academic journal for any year is the number of times...
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To answer the question of the paper's title, we looked at the tables of contents...
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The economics of ecology journals (with Carl T. Bergstrom), Frontiers in Ecology and Evolution (2007)
Large commercial publishers charge dramatically higher prices to institutions than do non-profit publishers. These price...
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Here are two comments published by the JEP on my 2001 journals paper my response....
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When academic journals were distributed only as paper editions, the obvious way for scholars to...
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Commercial publishers charge libraries about 6 times as much per page and 16 times as...
Economics of the Family
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William Hamilton developed the biological theory of kin selection before game theory became familiar to...
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The theory of parent-offspring conflict predicts that mothers and their offspring may not agree about...
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This paper is an advertisement for some facts and ideas that I think likely to...
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In an earlier paper Courtship as a Waiting Game, Mark Bagnoli and I proposed a...
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This review explores the theory of household technology and the associated possibilities for distributing utility...
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Courtship as a Waiting Game (with Mark Bagnoli), Journal of Political Economy (1993)
In most times and places, women on average, marry older men. We suggest a partial...
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Gary Becker's ``Rotten Kid Theorem'' asserts that if all family members receive gifts of money...
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Large, short-run fluctuations in the birth rate have been an important demographic feature of industrialized,...
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We develop a model of marriage market equilibrium that can be used to study effects...
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This paper was written in the form of two puzzles. One puzzle concerns Romeo and...
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If event histories are recorded in discrete intervals of times, errors are introduced when the...
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Can Courtship be Cheatproof? (with Richard Manning), Department of Economics, UCSB (1983)
In 1983, I told Richard Manning about Gale and Shapley's beautiful 1962 paper on matching....
Evolution and Economics
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The article focuses on the economics of family partnerships. It states an allegory involving a...
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This paper addresses the question of whether our evolutionary history suggests that humans are likely...
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Scientific publishing is rapidly shifting from a paper-based system to one of predominantly electronic distribution,...
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This paper explores the way that assortative matching can maintain cooperative behavior under evolutionary dynamics.
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Alexander Field was not convinced of a result that I claimed in my JEP 2001...
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How selfish does our evolutionary history suggest that humans will be? We explore models in...
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William Hamilton developed the biological theory of kin selection before game theory became familiar to...
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The theory of parent-offspring conflict predicts that mothers and their offspring may not agree about...
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How do rats and squirrels decide how much to hoard for the winter when they...
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This paper explores the evolutionary foundations of altruism among siblings and extends biologists' kin-selection theory...
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This paper explores the workings of stratified societies in which there is primogeniture and where...
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About 80% of all societies recorded by anthropologists are polygynous (men have many wives). Even...
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This paper considers a series of examples in which evolution supports cooperative behavior in single-shot...
Health Economics
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Transplants of donated stem cells save the lives of many patients with blood diseases. Donation...
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This paper incorporates medical insurance, life insurance, annuities, and the value of risks to human...
Public Finance
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Transplants of donated stem cells save the lives of many patients with blood diseases. Donation...
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This paper addresses the question of whether our evolutionary history suggests that humans are likely...
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How should benefit-cost analysis account for the value that benevolent individuals place on other people's...
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The net present value of costs and benefits from a pay-as-you-go social security system are...
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One of the most disconcerting results in welfare economics is the "paradox of the second...
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Can the government get people to contribute more to public goods by subsidizing voluntary contributions....
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This paper presents a theoretical model of political support for public provision of day care....
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This little paper is presented in the form of two puzzles. It shows that simple...
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This paper conducts an empirical test of whether local governments spend more or less than...
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This paper shows that if workers have identical wealths, abilities, and preferences then a draft...
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We consider a general model of the non-cooperative provision of a public good. Under very...
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Mineral deposits in Australia are generally owned by states. Exploration licenses and mining leases are...
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When is the Pareto optimal amount of public goods independent of income distribution? Subject to...
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A Nash equilibria of the Groves-Ledyard mechanism is Pareto optimal. But this may not be...
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This paper develops a "subjectivist" theory of the value that individuals place on risks to...
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We devise and apply a new method for estimating demand for local public goods from...
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This paper argues that since the supply of oil in the ground is inelastic, the...
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This paper finds the conditions under which an allocation branch can determine the efficient amount...
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This paper extends Bowen's theorem on the efficiency of majority-chosen public expenditures. It also discusses...
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H.R. Bowen showed that if voters have equal tax shares and if marginal rates of...
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This paper contains a proof of the existence of Lindahl equilibrium in a very general...
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This paper presents a general equilibrium model with marketable pollution permits. It shows that competitive...
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This paper develops a method for using data for a large cross-section of municipalities relating...
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This note was inspired by a 1970 JPE paper by Robin Barlow, who claimed that...
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This paper was my attempt to build a theory of "public factors of production" such...
Resource Economics
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Consider a public utility that offers its service at two different times. We study the...
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Mineral deposits in Australia are generally owned by states. Exploration licenses and mining leases are...
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This paper argues that since the supply of oil in the ground is inelastic, the...
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We show that for a depletable resource, if the competitive time path of prices is...
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This paper presents a general equilibrium model with marketable pollution permits. It shows that competitive...
Teaching Economics
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This paper describes techniques that I use to teach economics principles "interactively". These techniques include...
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Students in a large principles class participated in a market experiment in which they had...
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Edward Chamberlin, who initiated classroom market experiences, used the results of his experiments to argue...
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Edward Chamberlin conjectured that the number of trades in realistic trading systems is likely to...
No subject area
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Scientific publishing is rapidly shifting from a paper-based system to one of predominantly electronic distribution,...
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In many applications, assumptions about the log-concavity of a probability distribution allow just enough...
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This paper explores the quantitative relation between non random, assortative matching and the maintenance of...
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Commercial publishers charge libraries about 6 times as much per page and 16 times as...
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One of the most disconcerting results in welfare economics is the "paradox of the second...
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This paper was stimulated by a paper by Peter Ware, who used calculus first-order conditons...
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This paper argues that since the supply of oil in the ground is inelastic, the...
