A dynamic general equilibrium model of search and matching is constructed in which: (i) the stock of public knowledge grows through time and (ii) workers accumulate a fraction of this knowledge through education while young. Once their schooling is complete workers enter a primary labor market,...

We explore the potential for correlated equilibrium to capture conformity to norms and the coordination of behavior within social groups. Given a partition of players into social groups we propose three properties one may expect of a correlated equilibrium: within-group anonymity, group...

We explore the potential for correlated equilibrium to capture conformity to norms and the coordination of behavior within social groups. Given a partition of players into social groups we propose properties that one may expect of a correlated equilibrium: within-group anonymity, group...

In his History of Economic Analysis, Schumpeter stated that although the subject of his book is a history of economic analysis, "analytic effort is of necessity preceded by a preanalytic cognitive act that supplies the raw material for the analytic effort. In this book, this preanalytic...

This article examines the intellectual influences that economists exerted on Nicholas Georgescu Roegen in his formative and mature years. While these include Malthus, Marshall, Pareto and Schumpeter, attention is focused on Marx and Gossen. Karl Marx is the economist whom Georgescu Roegen cited...

Fifty years ago the JPE published Simon Rottenberg's "The Baseball Players' Labor Market", the first professional journal article in sports economics. In this retrospective we review some of his insights and analyses with regard to competitive balance, constraints on payroll and freedoms to...

This article provides an overview of the main events in the life of John Harsanyi and a summary of his research on decision-theoretic foundations for utilitarianism, cooperative bargaining theory, games of incomplete information, and equilibrium selection in noncooperative games.

The paper distinguishes between rigid price and flexible price versions of the Prescott (1975) “hotels” model. I focus on two dynamic models that allow for storage: The Bental and Eden (1993) model of all year round goods and the more recent Deneckere and Peck (2012) model of seasonal goods....

Cloud computing brings together several existing technologies including service oriented architecture, distributed grid computing, virtualization, and broadband networking to provide software, infrastructure, and platforms as services. Under the old IT model, companies built their own server...

I use a flexible price version of the Prescott (1975) hotels model to explain variations in price dispersion across goods sold by supermarkets in Chicago. The main finding is that price dispersion measures are positively correlated with proxies for demand uncertainty. I also find that price...