This paper develops a variant of one-step efficient GMM based on the KLIC rather than empirical likelihood. As in other one-step methods, the authors introduce M (the number of moments) auxiliary 'tilting' parameters which are used to construct a reweighting of the data so that the reweighted...

One-step efficient GMM estimation has been developed in the recent papers of Back and Brown (1990), Imbens (1993) and Qin and Lawless (1994). These papers emphasized methods that correspond to using Owen's (1988) method of empirical likelihood to reweight the data so that the reweighted sample...

The ever-growing livestock industry in the Texas High Plains has a significant impact on water usage and groundwater resources throughout the region.  The groundwater sources are depleting at an excessive rate and have low-recharge while precipitation is scarce in this region.  The regional...

This study evaluated the possibility of implementing a proposed cap and trade policy on water use in the Texas Southern High Plains. The results suggested that the decision of producers to enroll in a cap and trade policy introduced under a restricted 50/50 management plan, will be impacted by...

As droughts become more severe and frequent with changing climate, farmers of the Southern High Plains (SHP) of Texas may be forced to adopt new agricultural practices which will enable them to adapt to severe climate conditions. During 2011, scorching temperatures coupled with record low...

This paper investigates the stability of monetary exchange equilibria and the conditions necessary for an equilibrium of this type to emerge endogenously. Previous research on money as a medium of exchange has depended on either initial conditions or steady state conditions to pinpoint...

In an environment of anonymous random matching, Kandori [1992] showed that with a sufficiently rich class of simple information systems the folk theorem holds. We specialize to the Prisoner's Dilemma and examine the stochastic stability of a process of learning and evolution in this setting. If...