We include initial holdings in the jungle economy of Piccione and Rubinstein (Economic Journal, 2007) in which the unique equilibrium satisfies lexicographic welfare maximization. When we relax assumptions on consumption sets and preferences slightly, equilibria other than lexicographic welfare...

Some scholars have argued that the Framers of the U.S. Constitution did not have a common set of views on economics, or that the Constitution, except perhaps in isolated clauses, does not reflect any specific economic views. The principal Framers did, in fact, share a basic set of economic...

We provide definitive results to close the debate between Eeckhout (2004, 2009) and Levy (2009) on the validity of Zipf's law, which is the special Pareto law with tail exponent 1, to describe the tail of the distribution of U.S. city sizes. Because the origin of the disagreement between...

Degrowth proposes radically reorganizing societies to equitably downscale the economy. The concept remains relatively unknown in the United States, a country whose oversized production and consumption have ample room to degrow. An informal survey suggests that American degrowth advocates tend to...

This paper studies allocation correspondences in the house allocation problems with collective initial endowments. We examine the implications of two axioms, namely “consistency” and “unanimity.” Consistency requires the allocation correspondence be invariant under reductions of...