Condorcet profiles are responsible for a number of well known preference aggregation paradoxes. It is reasonable to claim that these profiles represent complete ties between the candidates and should therefore be excluded to determine election outcomes. Established profile decomposition...

The paper studies asset prices and capital accumulation in a monetary economy with non-diversifiable idiosyncratic risks. A government issued unbacked currency is introduced into agent's preferences in a dynamic GEI (General Equilibrium with Incomplete market) model with CARA preferences and...

In games with strategic substitutes (GSS), convergence of the best-response dynamic starting from the inf (or sup) of the strategy space is equivalent to global stability (convergence of every adaptive dynamic to the same pure strategy Nash equilibrium). Consequently, in GSS, global stability...

Under some conditions, parameterized games with strategic substitutes exhibit monotone comparative statics of equilibria. These conditions relate to a tradeoff between a direct parameter effect and an opposing, indirect strategic substitute effect. If the indirect effect does not dominate the...

A worker's decision whether to apply for public transfers may depend not only on his expected level of foregone labor earnings but also on his degree of uncertainty about such earnings. This paper provides theory and evidence about the effects of earnings and eligibility uncertainty on...

This paper provides new evidence about the impact of Social Security Disability Insurance on male labor force participation decisions based on estimates from a structural model of applications, awards, and state-contingent lifetime income flows. The lifetime framework makes it possible to...