We analyze the contracting structure in a moral hazard setting with several agents whereoutput is produced jointly and is the only contractible variable. Since the salary of each agentis a function of all agents efforts, a positive externality arises between them. This externalityis not...

This paper analyses the evolution of inequality and poverty in Brazil during the 1980s, using a large repeated cross-section household survey data set. We calculate standard scalar measures of inequality and poverty, together with decile means and decile shares. We also present percentile...

We contrast two approaches to the prediction of latent variables in the model of factor analysis. The likelihood statistic is a sufficient statistic for the unobservables when sampling arises from the exponential family of distributions. Linear predictors, on the other hand, can be obtained as...

Lorenz curves and associated tools for ranking income distributions are commonly estimated on the assumption that full, unbiased samples are available. However, it is common to find income and wealth distributions that are routinely censored or trimmed. We derive the sampling distribution for a...

Researchers in many fields of economics often compare distributions using some criterion or another of inequality, poverty or welfare. It is standard practice to base such comparative analysis on aggregated data. But will the results obtained be dependent on the degree of aggregation of the...

We examine the way in which across-the-board additions to incomes are perceived to change inequality. Using a questionnaire we investigate whether subjective inequality rankings correspond to the principle of scale-independence of translation-independence, or to some generalised concept of...

This paper traces the time series (?Growth of Firms?) tradition in the study of market structure and looks at how recent studies on entry and the size distribution of firms have modified thinking in this area.

Strategic patenting is widely believed to raise the costs of innovating,especially in industries characterised by cumulative innovation. This paperstudies the effects of strategic patenting on R&D, patenting and marketvalue in the computer software industry. We focus on two key aspects:patent...

This paper investigates whether the effects, on registered manufacturing out-put,employment, entry and investment, of dismantling the 'license raj' - a system of centralcontrols regulating entry and production activity in this sector - vary across Indian stateswith different labor market...

With strong conceptual arguments in its favor, decentralization is a popular and growing policy trend across the world. And yet dozens of empirical studies have failed to find convincing evidence that past reforms have worked. This begs two questions: 1)Why does decentralization produce...