This paper uses a modified dictator game to investigate the relationship between response times and social preferences. We find that egoistic subjects make faster decisions than subjects with social preferences. Moreover, our within-analysis reveals that, for a given individual, egoistic payoff...

This paper presents a dynamic model of fertility decisions in which children serve as an incomplete insurance good. The model incorporates uncertainty about future income and the survival of children as well as a discrete representation of the number of children. It provides an alternative...

The ideas behind the bargaining set (Aumann & Maschler, and Mas-Colell) as a solution concept are formalized. An alternative to the Mas-Colell bargaining set is defined and characterized.

We study the consequences of imperfect competition in a macro model with only one imperfection; that of labor market competition. Otherwise the model is ‘clean’; agents are optimizers, prices are endogenous, and expectations are rational. We show that, although imperfect competition in...

A considerable literature seems to argue the use of person trade-offs to estimate the quality-adjustment factor in Quality-Adjusted Life Years (QALY) models. A similar practise is followed by the WHO to estimate the disability weights used in calculation of Disability-Adjusted Life Years (DALY)...

The rate of growth of labor supply will decline or even become negative in many countries in the 1990s, and the main question in the paper is, whether this development by itself will reduce the equilibrium rate of unemployment. Labor market mismatches are imposed on a dynamic macro model, and...

This paper develops an ordinal method of comparison of multidimensional inequality. In our model, population distribution g is more unequal than f when the distributions have common median and can be obtained from f by one or more shifts in population density that increase inequality. For our...

We introduce a description of the power structure which is inherent in a strategic game form using the concept of an interaction sheaf. The latter assigns to each open set of outcomes a set of interaction arrays, specifying the changes that coalitions can make if outcome belongs to this open...

A cointegrated VAR model describing a small macroeconomic system consisting of money, income, prices, and interest rates is estimated on split sample data before and after 1983. The monetary mechanisms were found to be significantly different. Before 1983, the money supply seemed controlable and...

This paper considers the well-known Levhari-Mirman model of resource extraction, and investigates the effects of the information structure of the dynamic game - open-loop, Markovian or history-dependent - on the equilibrium consumption path and the overall utility of the agents. The open-loop...