Contributed Papers, MONDAY, AUGUST 28, 2:00 - 4:00 p.m.

Game Theory: Approximations and Continuity (Session 28B-21)

Chair: Dimitri Vayanos (Stanford University, USA)

When are Non-Anonymous Players Negligible?
David LEVINE (University of California, LA, USA)
Drew Fudenberg
Wolfgang Pesendorfer

Dynamic Monopoly as a Finite-Player Game
Marc DUDEY (Rice University, USA)

Payoff Continuity in Incomplete Information Games
Stephen MORRIS (University of Pennsylvania, USA)
Atsushi Kajii

Nash Equilibrium and the Law of Large Numbers
Mario R. PASCOA (Universidade Nova de Lisboa, Portugal)

Evolution and Economic Behavior (Session 28B-22)

Chair: Yuri M. Kaniovsky (IIASA, Laxenburg, Austria)

Comparative Advantage of Organizational Conventions and the Gains from Diversity: Evolutionary Game Approach
Masahiko AOKI (Stanford University, USA)

On the Survival of Irrational Traders: A Darwinian Approach
Bruno BIAIS (IDEI Toulouse University, France)
Raphael Shadur

The Existence and Evolutionary Stability of Moral Objections to Free Riding
Shmuel NITZAN (Bar-Ilan University, Israel)
Werner Guth

Rent, Risk, and Replication
Karl WARNERYD (Stockholm School of Economics, Sweden)

Corporate Finance (Session 28B-23)

Chair: Kjell Nyborg (London Business School, UK)

The Ownership Structure of Firms: The Liquidity/Control Tradeoff
Ernst-Ludwig VON THADDEN (WNZ/Universitat Basel, Switzerland)
Patrick Bolton

New Security Offerings as an Incentive Mechanism
Chun CHANG (University of Minnesota, USA)
Yijiang Wang

State-Contingent Debt and Repeated Oligopolies
Ulrich HEGE (Groupe HEC, France)

Debt, Dividends and Imperfect Competition
Antoine FAURE-GRIMAUD (GREMAQ, Universite de Toulouse, France)

Framing, Anchoring and Choice (Session 28B-25)

Chair: David Kelsey (University of Birmingham, UK)

Norms, Choice and Preferences
Nick BAIGENT (University of Graz -- Institute of Public Economics, Austria)

The Relevance of Irrelevant Alternatives and Other Tales
Christian SEIDL (Christian-Albrechts-Universitaet zu Kiek, Germany)
Stefan Traub

Public Good Provision and Public Bad Prevention: The Effect of Framing
Arthur SCHRAM (Univ. of Amsterdam)
Joep Sonnemans
Theo Offerman

Referendum Contingent Valuation, Anchoring, and Willingness to Pay for Public Goods
Daniel MCFADDEN (Univ. of California)
Donald Green
Karen E. Jacowitz
Daniel Kahneman

Imperfect Competition 2 (Session 28B-26)

Chair: Reiko Aoki (SUNY Stony Brook, USA)

Predation with a Learning Curve
Luis CABRAL (Universidade Nova de Lisboa, Portugal)
Michael Riordan

R&D Investment and Product Differentiation: Cournot vs Bertrand Competition
Larry D. QIU (Hong Kong University of Science & Technology)

The Effects of Airline Codesharing Agreements on International Air Fares
Jong-Hun PARK (University of British Columbia, Canada)
Tae H.Oum
Anming Zhang

Endogenous Horizontal Mergers in Infinitely Repeated Markov-Perfect Games
Gautam GOWRISANKARAN (Yale University, USA)

General Equilibrium 10 (Session 28B-31)

Chair: Jaoquim Silvestre (University of California at Davis, USA)

Equilibrium in an Economy of Information Goods
G.A. KOSHEVOY (CEMI RAS, Russia)
V.I. Danilov
A.I. Sotskov

Competitive Equilibrium in an Exchange Economy with Indivisibilities
Sushil BIKHCHANDANI (UCLA, USA)
John W. Mamer

The Existence of Competitive Equilibria with Non-Concavifiable Preferences; an EAPT Application
Dongchul WON (First Economic Research Institute, Korea)

Incomplete Markets in Infinite Horizon: Debt Constraints versus Node Prices
Monique FLORENZANO (CNRS-CEPREMAP, France)
Pascal Gourdel

Transition 2 (Session 28B-32)

Chair: Dilip Mookherjee (Indian Statistical Institute, India)

A Tale of Two Reforms
Wei LI (Duke University, USA)

A Theory of Ambiguous Property Rights in Transitional Economies
David D. LI (University of Michigan, USA)

Regional Decentralization and the Soft Budget Constraint: The Case of China
Yingyi QIAN (Stanford University, USA)
Gerard Roland

Local Maximum Likelihood Estimation of a Disequilibrium Transition Model: The Case of Consumer Goods Market in China, 1954-1991
Hui SHU (Portland State University)
Kuan-Pin Lin

Financial Intermediation 2: Regulation and Competition (Session 28B-33)

Chair: Murgie Krishnan (University of Minnesota, USA)

Closure Rules, Market Power and Risk-Taking in a Dynamic Model of Bank Behavior
Javier SUAREZ (London School of Economics, UK)

Who Should Decide on Bank Closures? An Incomplete Contracts Model
Rafael REPULLO (CEMFI, Spain)

Environmental Economics 2 (Session 28B-35)

Chair: Philippe Jehiel (CERAS, France)

Resource Scarcity and Fertility Decision: Characterization and Existence of Overlapping Generations Equilibria
N.M. HUNG (University Laval, Canada)
N.V. Quyen,
C. Le Van

Long-Run Ground Water Reserves under Uncertainty
Santiago J. RUBIO (University of Valencia, Spain)
Juan P. Castro

Evaluating Environmental investments: A Real Options Approach
Gonzalo CORTAZAR (Pontificia Universidad Catolica de Chile)
Eduardo S. Schwartz
Marcelo Salnas

Doubtful Merits of Equal-Rate Pigovian Taxes and Tradable Emission Permits in Controlling Global Pollution
Hirofumi SHIBATA (Ritsumeikan University, Japan)

Labor Markets 5 (Session 28B-36)

Chair: Dagobert Brito (Rice University, USA)

Job Matching, Learning and the Distribution of Surplus
Leonardo FELLI (London School of Economics, UK)
Christopher Harris

Job Search and Wage Bargaining Power
Johan LINDEN (Uppsala University, Sweden)

A Model of Competition Between Employed, Short-Term and Long-Term: Unemployed Job Searchers
Lourens BROERSMA (Free University, Amsterdam,The Netherlands)

Equilibrium Unemployment and Neutrality of Standard Supply-Side Policy under Competition
Torben TRANAES (Copenhagen Business School, Denmark)

Semiparametric and Nonparametric Methods 2 (Session 28B-41)

Chair:Whitney K. Newey (MIT, USA)

Iterative least Squared Estimator of Binary Choice Models: A Semi-Parametric Approach
Weiren WANG (University of Kentucky)
Mai Zhou

Gasoline Demand Analysis: A Tensor Product Polynomial Splines Approach
Pin T. NG (University of Illinois, USA)
James L. Smith

Educational Attainment (Session 28B-42)

Chair:Wiji Arulampalam (University of Warwick, UK)

Gender, Intrafamily Allocation of Resources and Child Schooling in South India
Palanigounder DURAISAMY (University of Madras, India)

Is Child like Parent? Educational Attainment and Ethnic Origin
Klaus F. Zimmermann(University of Munich, Germany)
Ira Gang

College Quality, Wages and Endowments: Estimates Using Data on Female Twins
Paul TAUBMAN (Univ. of Pennsylvania)
J. R. Behrman
M. R. Rosenzweig

The Dynamics of School Enrollment and Labor Market Situation among Young Spanish People: Inheritance of Unemployment
Arantza UGIDOS-OLAZABAL (Universidad del Pais Vasco, Spain)
Namkee Ahn

Consumer Demand 2 (Session 28B-45)

Chair:Christopher J. Nicol (University of Regina, Canada)

Distribution of Preferences and Measurement Errors in a Disaggregated Expenditure System
Jorgen AASNESS
Erik Biorn
Terje Skjerpen

Maximum Simulated Likelihood Estimation of Consumer Demand Systems with Binding Non-Negativity Constraints
Chihwa KAO(Syracuse University, USA)
Lung-Fei Lee

Spatial Variations of Prices & Household Demand Analysis in Tunisia
Mohamed Salah MATOUSSI (University of Tunis III)
Mohamed Ayadi
Rafiq Baccouche
Mohamed Goaid

Nonlinear Budget Constraints and Estimation: Effects of Subsidized Home Loans on Housing Decisions in Japan
Miki SEKO (Nihon University, Japan)

Estimation & Identification of Time Series Models (Session 28B-46)

Chair: Wolfgang Polasek (University of Basel, Switzerland)

Simple Estimation & Identification Techniques for Stationary & Non-Stationary ARMA Models
John W. GALBRAITH (McGill University)
Victoria Zinde-Walsh

Estimation of Stationary Stochastic Processes via the Empirical Characteristic Function
John L. KNIGHT (Univ. of W. Ontario)
Stephen E. Satchell

Some Results on the Identification and Estimation of Threshold Moving Average Models
Kuldeep KUMAR (Bond University, Australia)
Jan G. de Gooijer

Estimation Error and the Specification of Unobserved Component Models
Agustin MARAVALL (European university Institute, Italy)
Christophe Planas

Unit Root Testing 2 (Session 28B-53)

Chair:Claudio Lupi (ISTAT, Italy)

Confirmatory Data Analysis: the Joint Application of Stationarity and Unit Root Tests
Simon P. BURKE (University of Reading, UK)

Testing for Null of Stationarity Based on the Error Component Representation
Biing-Shen KUO (University of Rochester, USA)

Testing and Modeling Stochastic Unit Roots with Applications in Financial Time Series
S.J. LEYBOURNE (University of Nottingham, UK)
B.P.M. McCabe

Testing for Unit Roots and Non-Linear Transformations
Michael MCALEER (University of Western Australia)
Philip Hans Franses

Econometric Methodology (Session 28B-54)

Chair: Harry H. Kelejian (University of Maryland, USA)

The Lucas Critique in Practice: Theory without Measurement
Neil R. ERICSSON (Federal Reserve Board, USA)
John S. Irons

Simplicity, Accommodation and Prediction
Hugo KEUZENKAMP (Tilburg University, The Netherlands)
Michael McAleer

Progressive Modelling of Macroeconomic Time Series: The LSE Methodology
Grayham E. MIZON (European University Institute, Italy)

Hypothesis Testing, Scientific Explanation, and Prediction in Economics
Bernt P. STIGUM (University of Oslo, Norway)

Estimation & Identification of Time Series Models(Session 28B-55)

Chair:Wolfgang Polasek (University of Basel, Switzerland)

Simple Estimation & Identification Techniques for Stationary & Non-Stationary ARMA Models
John W. GALBRAITH(McGill University)
Victoria Zinde-Walsh

Estimation of Stationary Stochastic Processes via the Empirical Characteristic Function
John L. KNIGHT(Univ. of W. Ontario)
Stephen E. Satchell

Some Results on the Identification and Estimation of Threshold Moving Average Models
Kuldeep KUMAR(Bond University, Australia)
Jan G. de Gooijer

Program World Conference Econometric Society Tokyo, August 1995