The claim has been made that the Generalized Maximum Entropy (GME) estimator of Golan, Judge and Miller is not sensitive to variations in the support bounds of either the parameters or the error terms. In this paper, we scrutinized this claim by means of Monte Carlo experiments and found that...

We prove that the symmetric and negative semidefinite modified Slutsky matrix derived by Samuelson and Sato (1984) for the money-goods model of the consumer, is identical to that derived by Pearce (1958) a quarter century before and restated sixteen years later by Berglas and Razin (1974). We...

In 1944, Marschak and Andrews published a seminal paper on how to obtain consistent estimates of a production technology. The original formulation of the econometric model regarded the joint estimation of the production function together with the first-order necessary conditions for...

In a recent paper, Mundlak assumes that the price-taking, risk-neutral and profit maximizing entrepreneur makes his decisions on the basis of a planning model that maximizes expected profit using expected prices. In the same paper, the author asserts that when there is no sample price variation...