This paper complements the results of Hausman and Taylor (1981) and Cornewell, Schmidt and Sickles (1990) and generalizes Park and Simar (1994) by examining the semiparametric efficient estimation of panel models in which the random effects and the regressors have certain patterns of correlation.

Efficiency scores of production units are measured by their distance to an estimated production forntier. Nonparametric DEA estimators are based on a finit sample of observed production units and radial distances are considered. We investigate the consistency and the speed of convergence of...

This paper presents an overlapping generations model of environmental externalities with a depollution technology. We show that if an agent is sufficiently risk averse, voluntary contribution is a decreasing function of average efficiency of depollution technology. If on the contrary, the...

This paper provides a characterization of the consequences of the assumption that a decision maker with a given utility function is Choquet rational: She maximizes expected utility, but possibly with respect to non-additive beliefs, so that her preferences are represented by Choquet expected...

This paper analyses price competition under product differentiation when goods are defined in a two dimensional characteristic space, and consumers do not know which firm sells which quality. Equilibrium prices consist of two additive terms, which balance consumers' relative valuation of goods'...

When "n" individuals satisfy the axioms of subjective expected utility (SEU) theory and these individuals' probabilities or/and utilities are sufficiently diverse, it is impossible to aggregate the individuals' preferences into a (n+1)-preference which is both Paretian and in agreement with SEU...