We estimate a translog production function based on data from a Japanese automobile plant in the Midwest where output is determined by capital and different supervisory time inputs. We fit a model which allows for heteroskedastic errors, where this heteroskedasticity is a function of various...

This paper assesses the importance of the role of prices as aggregators of private information in the S&P 500 future market. We estimate primitive parameters of the Hellwig (1980) noisy rational expectations model, when both prices and terminal values are observable. The variance-covariance...

We study an entry game under perfect information, with the salient feature that capacity is resalable. We show that an inability to precommit (to final output) can help rather than hurt. In contrast to other analyses of limited commitment (e.g., Maskin-Tirole (1988)), which do not specify the...