Fixed point theorems are the standard tool used to prove the existence of equilibria in mathematical economics. This paper shows how to prove a slight generalization of Brouwer's and Kakutani's fixed point theorems using the familiar techniques of drawing and shifting curves in the plane and is,...

Water is a limiting factor for sustainable economic growth and development in many countries. Its allocation has significant impacts on overall economic efficiency, particularly with growing physical scarcity in certain regions. Water also has become a strategic resource, involving conflicts...

A thorough analysis of sustainable development requires a better understanding of how economic and ecological systems interact over the long run. This paper provides an integrated model to analyze interactions between economic and ecological systems. The linkages between these two systems are...

This chapter focuses on how the lack of property rights in North-South trade of primary resources can distort trade and threaten the sustainablility of development. This issue is examined within a two-region world economy where one region, the North, represents the industrial countries, and the...

In statistics it is necessary to study the relation among many probability distributions. Information geometry elucidates the geometric structure on the space of all distributions. When combined with Bayesian decision theory, it leads to the new concept of "ideal estimates." They uniquely exist...

This paper discusses regression models with aggregated covariate data. Reparameterized likelihood function is found to be separable when one endogenous variable corresponds to one instrument. In that case, the full-information maximum likelihood estimator has an analytic form, and thus...

Data from surveys often include errors, and such errors can have a serious effect on inferences about behavior or perceptions. In this paper a model is developed for making inferences based on dichotomous survey data with possible errors. A likelihood analysis reveals an identification problem,...

In estimation of the normal covariance matrix, finding a least favorable sequence of prior distributions has been an open question for a long time. This paper addresses the classical problem and accomplishes the specification of such a sequence, which establishes minimaxity of the best...

This paper examines the predictive performance of two representative agent models of earnings momentum using the US S & P 500 sample frame in the years 1991–2006. For successive sequences of quarterly earnings outcomes over a three year horizon of quarterly increases/decreases, etc., we ask...