Contributed Papers, SUNDAY, AUGUST 27, 9:00 - 10:30 a.m.

The Core and Competitive Equilibrium (Session 27A-21)

Chair: Ho-mou Wu (National Taiwan University, Taiwan)

Edgeworth's Conjecture with Infinitely Many Commodities,
Robert M. ANDERSON (University of California at Berkeley, USA)
William Zame

Non-Cooperative Foundations, Extensive Form Implementation, and the Core
James BERGIN (Queen's University, Canada)
John Duggan

Large Finite Economies are almost Balanced
Ajit RANADE (IGIDR, General Vaidya Marg, India)

Adaptive Behavior and Oligopoly (Session 27A-22)

Chair: Maxim Engers (University of Virginia, USA)

Breeding Competitive Strategies
Robert E. MARKS(University of New South Wales, Australia)
David Midgley
Lee Cooper

Axelrod Meets Cournot: Oligopoly and the Evolutionary Metaphor
Huw David DIXON (University of York, UK)
Scott Moss
Steven Wallis

Non-Nash Equilibria of Darwinian Dynamics (with Applications to Duopoly)
Mark STEGEMAN (VPI & SU, USA)
Paul Rhode

Law Enforcement and Auditing (Session 27A-23)

Chair: Hans Jorgen Jacobsen (University of Copenhagen, Denmark)

Prosecutorial Discretion and Criminal Deterrence
Luigi Alberto FRANZONI(University of Bologna, Italy)

Auditing Claims in Insurance Market with Fraud: The Credibility Issue
Pierre PICARD(THEMA, France)

Optimal Auditing When Some Individuals are Tax-Return-Exempt
Ines MACHO-STADLER(Universitat Autonoma de Barcelona, Spain)
David Perez-Castrillo

Strategy-Proofness (Session 27A-25)

Chair: Edward Green (University of Minnesota, USA)

Voting under Constraints
Salvador BARBERA (Universitat Autonoma de Barcelona, Spain)
Jordi Masso
Alejandro Neme

Is Majority Decision Desirable? A Characterization of Pairwise Majority Rule
Stephen CHING (City University of Hong Kong)

Two Definitions of Ordinal Social Choice
Klaus NEHRING (University of California, Davis, USA)

General Equilibrium 7: Rational Beliefs and Sunspots (Session 27A-26)

Chair: Geoffrey Heal (Columbia University, USA)

Rational Belief Structures and Rational Belief Equilibrium
Carsten Krabbe NIELSEN (University of Copenhagen, Denmark)

The Sequential Regularity of Competitive Equilibria and Sunspots
Atsushi KAJII (University of Pennsylvania, USA)

Comparing Four Models of Aggregate Fluctuations due to Self-Fulfilling Expectations
Stephanie SCHMITT-GROHE (Board of Governors of the Federal Reerve, USA)

Growth 6: Technical Issues(Session 27A-31)

Chair: Lakshmi K. Raut (University of California at San Diego, USA)

Stability Issues of Endogenous Growth Models
Karl-Josef KOCH (University of Konstanz, Germany)

Strong Concavity Properties of Indirect Utility Functions in Multisector Optimal Growth Models
Alain VENDITTI (Universite d'Aix-Marseille II,France)

Transition 1 (Session 27A-32)

Chair: Ivan Paak Liang Png (University of Science and Technology,Hong Kong)

Labor Reallocation across Dependent Sectors: Transition in Russia
Claire WAYSAND (CREST, France)

The Game Relationship between Central and Local Governments of China
Guocheng WANG (Chinese Academy of Social Sciences, China)

Endogenous Transformation - an Inquiry into Producer's Behavior under Communist and Post-Communist Economy
Serguey BRAGUINSKY (Yokohama City University, Japan)

Financial Market Theory 5 (Session 27A-33)

Chair: Jerome Detemple (MIT, USA)

The Option Value of Default under Moral Hazard
Ning S. ZHU (The World Bank, USA)
Jeremy Bulow
Kenneth Rogoff

The Theory of Informed Spreading
Gyutaeg OH (The University of Iowa, USA)

The Sources of Risk in a Dynamic Financial Market with Insider Trading
Murugapa KRISHNAN (University of Minnesota, USA)
Jordi Caballe

Environmental Economics 1 (Session 27A-35)

Chair: Marc Dudey (Rice University, USA)

The Regulation of Nonpoint Source Pollution under Asymmetric Information: A New Approach
Beatrice REY (Universite des Sciences Sociales de Toulouse,France)

Incomplete Information and Incentives to Free Ride on International Environmental Resources
Mehmet BAC (Bilkent University, Turkey)

Business Cycles 1 (Session 27A-36)

Chair: Kajal Lahiri (State University of New York, USA)

Business Cycles: Real Facts or Fallacies?
Gunnar BARDSEN (Norwegian School of Economics, Norway)
Paul G. Fisher
Ragnar Nymoen

Measuring Business Cycle Features
Shigeru IWATA (University of Kansas, USA)
Gregory D. Hess

Business Cycle Duration Dependence: A Gibbs Sampling Approach
MYUNG-JIG Kim (University of Alabama, USA)
Chang-Jin Kim

Long Range Dependence 2 (Session 27A-41)

Chair: Y.K. Tse (National University of Singapore, Singapore 0511)

Time Series Regression with Long Range Dependence
F.J. HIDALGO (London School of Economics, UK)
P.M. Robinson

Multivariate Quasi-Maximum Likelihood Analysis of Long-Memory Series
Ignacio N. LOBATO (University of Iowa, USA)

On the Power of the KPSS Test of Stationarity against Fractionally Integrated Alternatives
Peter SCHMIDT (Michigan State University, USA)
Dongin Lee

Discrete Choice Models (Session 27A-42)

Chair: Frank Windmeijer (University College London, UK)

The Career Decisions of Young Men
Michael KEANE (University of Minnesota, USA)
Kenneth Wolpin

Estimation of an Endogenous Switching Regression Model with Discrete Dependent Variables: Monte-Carlo Analysis and Empirical Application of Three Estimators
Ayal KIMHI (Hebrew University, Israel)

Bayesian Analysis of Nested Logit Models
Dale J. POIRIER (University of Toronto, Canada)

Cost Functions and Production Factor Dynamics (Session 27A-43)

Chair: Robert S. Chirinko (Emory University, USA)

A Supply Side Model of the UK Economy: An Application of Non-Linear Cointegration
Chris ALLEN (University of Sussex, UK)

The Generalized Ozaki-McFadden Cost Function and its Application to a Pooled Data on the Japanese Chemical Industry
Shinichiro NAKAMURA (Waseda University, Japan)

The Origin of Asymmetry in Factor Input Dynamics
Franz C. PALM (University of Limburg - Maastricht, The Netherland)
Gerard Pfann

Testing Functional Form (Session 27A-45)

Chair: Aris Spanos (University of Cyprus, Cyprus)

Log Income versus Linear Income: An Application of the Encompassing Principle
Luigi ERMINI (University of Hawaii at Manoa, Hawaii)
David Hendry

Power Comparisons of Tests of Linear and log-Linear Regression Models
Masahito KOBAYASHI (Yokohama National University, Japan)
Michael McAleer (University of Western Australia)

A Simple Algorithm for Estimating Box-Cox Models
Tomson OGWANG (University of Northern British Columbia, Canada)
U.L. Gouranga Rao

Microeconometrics: Development and Demography 2 (Session 27A-46)

Chair:Sajal Lahiri (University of Essex, UK)

Immigrants and Natives: Comparative Economic Progress in Two Centuries, 1850-1860 and 1970-1980
Joseph F. FERRIE (Northwestern University, USA)

Comparative Advantage, Information and the Allocation of Workers to Tasks: Evidence from an Agricultural Labor Market
Mark R. ROSENZWEIG (University of Pennsylvania, USA)
Andrew D. Foster

Assortative Mating on Age, Education and Marriage Transfers
Junsen ZHANG (Chinese University of Hong Kong)

Exact Inference (Session 27A-53)

Chair:Jean-Pierre Florens (Universite des Sciences Sociales, France)

Monte Carlo Tests with Nuisance Parameters: A General Approach to Finite Sample Inference and nonstandard Asymptotics in Econometrics
Jean-Marie DUFOUR (Universite de Montreal, Canada)

Exact Tests in Single Equation Autoregressive Distributed Lag Models
Jan F. KIVIET (University of Amsterdam, The Netherlands)
Jean-Marie Dufour

Exact Inference in Econometric Models with Stable Disturbances
Efthymios G. TSIONAS (University of Toronto, Canada)

ARCH and Extensions 1(Session 27A-54)

Chair: Doug Steigerwald (University of California, USA)

Intrady Seasonality and Volatility Persistence in Financial Markets
Tim BOLLERSLEV (Northwestern University, USA)
Torben G. Andersen

Does a Time-Varying Liquidity Premium Account for Anomalies in the Expectations Theory of the Term Structure?
Bryan CAMPBELL (Concordia University, Canada)
John W. Galbraith

Conditional Production Smoothing of Inventory Investment
Isamu GINAMA (Hiroshima University, Japan)

Program World Conference Econometric Society Tokyo, August 1995