April 2000 <p> As is well known, a continuous parameter process with mutually independent random variables is not jointly measurable in the usual sense. This paper proposes using a natural ``one-way Fubini'' property that guarantees a unique meaningful solution to this joint measurability problem...</p>

March 2000 <p> Diamond and Mirrlees (1971) provide sufficient conditions for a second-best Pareto efficient allocation with linear commodity taxation to require efficient production when a finite set of consumers have continuous single-valued demand functions. This paper considers a continuum...</p>

May 1997 (Revised May 1998) <p> By definition, multilaterally strategy-proof mechanisms are immune to manipulation not only by individuals misrepresenting their preferences, but also by finite coalitions exchanging tradeable goods on the side. Continuum economies are defined in which both agents'...</p>

July 1997 <p> Changes in the market work and wages of women from 1975 to 1994 are documented. Women are organized into nine birth cohorts, five schooling groups, and each year of age from 25 to 60 years and their weekly and annual work hours, their annual work weeks, their employment-population...</p>

October 2001 <p> We derive some theoretical economic properties of standard discrete choice econometric models that we believe are undesirable if the models are to be used as structural models of demand. We show that many standard models have the following properties: as the number of products...</p>

July 2000 <p> Marshallian consumer surplus (MCS) is generally an inaccurate measure of welfare change because it neglects income effects. Suppose these effects overturn the usual demand response to a price change. Then, the deadweight loss from a distortionary tax or subsidy has the wrong sign,...</p>

June 2001 <p> We study the identification and estimation of preferences in hedonic discrete choice models of demand for differentiated products. In the hedonic discrete choice model, products are represented as a finite dimensional bundle of characteristics, and consumers maximize utility subject...</p>

First draft: April 1996 This draft: October 1996 <p>This paper investigates the rationale for statistical discrimination and networks effects in the allocation of supplier credit. It examines the role they may play in favoring market participation and, hence, in the emergence and persistence of...</p>