Contributed Papers, WEDNESDAY, AUGUST 23, 9:00 - 10:30 a.m.

Bargaining 1 (Session 23A-21)

Chair: Abijay Muthoo (University of Essex)

Sequential Recontracting under Incomplete Information
Lawrence M. AUSUBEL (University of Maryland)
Arijit Sen

On the Role of Arbitration in Negotiations
Olivier COMPTE (Ecole Nationale des Ponts et Chaussees (Noisy le Grand))
Philippe Jehiel

Delegation in a Concession Game with Asymmetric Information
Byoung JUN (Korea University)

Learning and Behavior in Extensive Games (Session 23A-22)

Chair: Vincent Crawford (University of California, San Diego)

Adaptive Learning in Extensive Form Games and Sequential Equilibrium
Hans J. JACOBSEN (University of Copenhagen)
Ebbe Hendon
Birgitte Sloth

A Satisficing Model of Learning in Extensive Form Games
Youngse KIM (University of London)

A Reconsideration of the Centipede Game Experiments
Klaus G. ZAUNER (UC San Diego and University of New South Wales)

Allocation 1 (Session 23A-25)

Chair: Allison Watts (Vanderbilt University)

Strategy-Proof Allotment Rules
Salvador BARBERA (Universitat Autonoma de Barcelona)
Matthew O. Jackson
Alejandro Neme

Market Institutions and Core Allocations
Gordon R. GREEN (The Stern School of Management, New York University, USA)

Maximal Domains for the Existence of Strategy-Proof Rules
Shigehiro SERIZAWA (Shiga University)
Stephen Ching

General Equilibrium 1: Existence and Determinacy(Session 23A-26)

Chair: Murat Sertel (Bogazici University)

On the Uniqueness of Competitive Equilibrium
Anjan MUKHERJI (Jawaharlal Nehru University)

A Globally and Universally Stable Price Adjustment Process
Jean-Jacques HERINGS (Tilburg University)

Consumer Behavior 1(Session 23A-31)

Chair: Elena Antoniadou (University of Cambridge)

An Experiment on the Pure Theory of Consumer's Behavior
Reinhard SIPPEL (Universitat Bonn, Wirtschaftstheoretische Abteilung II) How Quasi-Rational Are You?
Thomas RUSSELL (Santa Clara University)

Revealed Preference and the Slutsky Matrix
Michael JERISON (SUNY, Albany)

Pensions and Social Security(Session 23A-32)

Chair: Christophe Chamley (Universite Louis Pasteur)

Economics of Pensions and Pension Reform: A General Equilibrium Approach
Chongmin KIM (University of Hong Kong)

Mandatory Insurance and Strength of Adverse Selection: I. Price Equilibrium
Bertrand VILLENEUVE (CREST-INSEE)

Transition between Social Security Systems
Selahattin IMROHOROGLU (University of Southern California)
He Huang
Thomas J. Sargent

Financial Market Theory 1: Derivative Pricing (Session 23A-33)

Chair: Jefferey Heisler (New York University)

Path Dependent Options on Yields in the Affine Term Structure Model
Boris LEBLANC (Banque Nationale de Paris)
Olivier Scaillet

Pricing of Contingent Claims from Discrete to Continuous Time Models: On the Robustness of the Black-Scholes Formula
Jean-Luc PRIGENT (University of Cergy-Pontoise)

Price Discrimination (Session 23A-35)

Chair: John Roberts (Stanford University)

Spatial Oligopolies with Discriminatory Pricing
Amoz KATS (Virginia Polytechnic Institute)

Multiproduct Nonlinear Pricing
Mark ARMSTRONG (University of Southampton)

Strategic Nonlinear Pricing
Farid GASMI (GREMAQ and IDEI, Universite de Toulouse I)
M. Moreaux
W. W. Sharkey

Testing Parameter Constancy (Session 23A-36)

Chair: Miguel Delgado (Universidad Carlos III de Madrid, Spain)

Testing Parameter Constancy and Superexogeneity in Econometric Equations
Eilev S. JANSEN (Norges Bank, Norway)
Timo Terasvirta

MOSUM Tests for Parameter Constancy
Chung-Ming KUAN (National Taiwan University, Taiwan, Republic of China)
Chia-Shang J. Chu
Kurt Hornik

Testing Parameter Constancy in Linear Models Against Stochastic Stationary Parameters
Timo TERASVIRTA (Stockholm School of Economics, Sweden)
Chien-Fu Lin

Modeling Patents and Innovations (Session 23A-41)

Chair: Pravin K. Trivedi (Indiana University, USA)

Patents, R&D and Technological Spillovers at the Firm Level
Michele CINCERA (Universite Libre de Bruxelles, Belgium)

Estimation of a Production Function of Innovations An Application of GMM -- Estimation to Models with Multiplicative Errors
Bruno CREPON (National Bureau of Economic Research)
Emmanuel Duguet

Market Dominance, Market Value and Innovation in a Panel of British Manufacturing Firms
John van REENEN (The Institute for Fiscal Studies, UK)
Richard Blundell
Rachel Griffith

Wage Determination 1 (Session 23A-42)

Chair: Claudio Lucifora (Univesita Cattolica del Sacro Cuore, Italy)

Wage Drift Settlements Over the Business Cycle: Firm Characteristics and the Asymmetric Outcome
Patrizia ORDINE (Universita della Calabria, Italy)

Unemployment, Labour Market Programmes and Wages in Norway
Fredrik WULFSBERG (University of Oslo, Norway)
Oddbjorn Raaum

Panel Estimates of a Two-Tiered Earnings Frontier
Bong Joon YOON (State University of New York)
Solomon W. Polachek

Efficiency Measurement (Session 23A-43)

Chair: Peter Schmidt (Michigan State University, USA)

Parametric Panel Data Approaches to Estimating Price & Technical Inefficiency at the Firm Level
Christopher CORNWELL (Terry College of Business, University of Georgia)
Scott E. Atkinson

Temporal Patterns of Technical Efficiency: Results from Competing Models
Almas HESHMATI (University of Gothenburg, Sweden)
Subal C. Kumbhakar
Lennart Hjalmarsson

A Semi-Parametric Estimation of Stochastic Inefficiency
Jong Bum KIM (University of California)

Trade, Development and IO (Session 23A-45)

Chair: Wendy L. Hansen (University of New Mexico, USA)

Multinationals, Linkages and Economic Development
Andres RODRIGUEZ-CLARE (The University of Chicago)

Cross-Industry Entry: The Case of a Small developing Economy
Ruben TANSINI (Universidad de la Republica Oriental del Uruguay)
Walter Garcia-Fontes
Marcel Vaillant

The Effects of Endogenous Trade Policy on the Industrial Structure
Alejandro M. WERNER (Yale University)

Stock Markets 1 (Session 23A-46)

Chair: Antoni Espasa (Universidad Carlos III de Madrid, Spain)

Non-Linear Dependence in Daily Stock Index Returns: International Evidence
Krishna PAUDYAL (Glasgow Caledonian University, UK)
Pradeep K. Yadav
Peter F. Pope

The Predictability of Stock Returns - A Nonparametric Approach
Zhong-guo ZHOU (University of California)
Peter Chung

Asymptotic Theory (Session 23A-53)

Chair: Garry Phillips (University of Exter, UK)

Strong Laws of Large Numbers for Dependent Heterogeneous Processes: A Synthesis of New Results
James DAVIDSON (University of Wales, Aberystwyth, UK)
Robert M. de Jong

Stochastic Equicontinuity for Empirical Processes of Dependent Random Variables
Robert M. DE JONG (Tilburg University, The Netherlands)

Asymptotic Efficiency with Uncooperative Sample Moments
Carlos B. MARTINS-FILHO (Oregon State University)
David M. Mandy

Cointegration Testing 1 (Session 23A-54)

Chair: Kimio Morimune (Kyoto University, Japan)

Canonical Cointegrating Regression and Testing for Cointegration in the Presence of I(2) Variables
In CHOI (Kookmin University, Korea)
Joon Y. Park
Byungchul Yu

Direct Cointegration Testing in Periodic Vector Autoregressive Models
Philip Hans FRANSES (Erasmus University Rotterdam, The Netherlands)
Frank Kleibergen

Testing Cointegration in Infinite Order Vector Autoregressive Processes
Pentti SAIKKONEN (University of Helsinki, Finland)
Ritva Luukkonen

Program World Conference Econometric Society Tokyo, August 1995