I argue that a households interdependent decisions over their childrens labor and school activities are not only a function of observable hard facts but also of its intrinsic values and beliefs. Applying econometric methods, after all observable factors have been controlled for, the degree to...

This paper presents results of an on-going joint European Commission / OECD project, aimed at monitoring the direct influence of tax and benefit instruments on household incomes. Indicators of financial work incentives are needed for identifying any undesired influences of taxes and social...

Data on physical capital are an indispensable part of economic growth and efficiency studies. In the case of China, economy-wide fixed asset series are usually derived by aggregating gross fixed capital formation (net of depreciation) over time, and sectoral/ownership-specific series by...

A merging function synthesizes a vector of numbers (representing measurements, scores or quantitative opinions) into a single number (representing a consensus or collective measurement, score or quantitative opinion). Assuming that all the involved numbers are drawn from a discrete set, it is...

Data on physical capital are an indispensable part of economic growth and efficiency studies. In the case of China, fixed asset time series are usually derived either by aggregating gross fixed capital formation data over time, net of depreciation, or by correcting the limited official fixed...

Modica and Rustichini [Theory and Decision 37, 1994] provided a logic for reasoning about knowledge where agents may be unaware of certain propositions. However, their original approach had the unpleasant property that nontrivial unawareness was incompatible with partitional information...

Aumann has proved that common knowledge of substantive rationality implies the backwards induction solution in games of perfect information. Stalnaker has proved that it does not. Roughly speaking, a player is substantively rational if, for all vertices $v$, if the player were to reach vertex...

Given a finite game with common payoffs (i.e. the players have completely common interests), we show that the problem of determining whether there exists a joint strategy where each player nets at least k is NP-complete.

Logical characterizations of the common prior assumption (CPA) are investigated. Two approaches are considered. The first is called frame distinguishability and is similar in spirit to the approaches considered in the economics literature. Results similar to those obtained in the economics...

Currently there is a jungle of software for economics, for both professional and educational software, and including the supportive mathematics and statistics. A comparison of 1993 showed and now in 1999 shows again - at least to this author - that Mathematica is the most useful and promising...