The paper identifies the structural restrictions on preferences required for them to exhibit both translation homotheticity in particular direction and radial homotheticity. The results are illustrated by an application to an asset allocation problem in the absence of riskless asset. Copyright...

This paper shows that the theory of circular causation as stated by Myrdal can be ast in a rigorous microeconomic neoclassical model. In doing this, Myrdal's theory of equilibria is extended by showing that existence of stable and unstable types of equilibria and the conditions under which easy...

In this article we first develop a theoretically consistent supply-response model for producers with invariant preferences facing price risk, and then we empirically apply the model for a group of Cretan olive-oil producers. For doing so, we estimate a Generalized Leontief cost function and we...

As the second book in a three-part series entitled Voices of the Poor, "Crying out for Change" accounts for the voices from comparative fieldwork among twenty three countries. Through participatory, and qualitative research methods, the book presents very directly, poor people's own voices, and...

This paper discusses how a quality indicator can be constructed as a Luenberger indicator using directional distance functions. This leads to a suggested formula for aggregating individual soil quality attributes into an indicator. The method is illustrated using crop trials data from Western...