A common approach in the literature, whether the investigation is about futures price risk premiums or biases in option-based implied volatility coefficients, is to use samples in which consecutive observations can be regarded as uncorrelated. That will be the case for non- overlapping forecast...

We propose a simple and tractable procedure for evaluating producer welfare under price uncertainty. These properties are achieved at the cost of assuming constant absolute risk aversion, where risk attitude depends on the stock of wealth but not on the flow of income. Numerical examples...

This abstract describes alternative output aggregates that provide both cross-sectional and temporal comparisons appropriate for the analysis of panel data sets. Several of these multidimensional output indices are constructed using detailed data on agricultural production to illustrate the...

This paper focuses on the application of computer-based, iterative methods for deriving analytical solutions to economic models expressed as systems of simultaneous linear and/or nonlinear equations. Practical suggestions for using four specific methods are emphasized. Analogies form economics...

A procedure to test for the significance of violations of revealed preference conditions is described. The procedure is simple and hence may especially be appropriate for large data sets. An application to consumption data is presented.