The paper presents a one good two country computable general equilibrium model with overlapping generations to evaluate intertemporal and international effects from tax reform. Model treatment of household and firm behavior is firmly rooted in the microeconomic theory of intertemporal choice....

Although their goal is to separate a decision maker's underlying beliefs (their subjective probabilities of events) from their preferences (their attitudes toward risk), classic choice-theoretic derivations of subjective probability all rely upon some form of the Marschak-Samuelson "Independence...

When the asset market is incomplete, equilibrium allocations are not invariant to changes in the financial policies of firms: in the presence of secondary assets, such as options, whose payoffs depend nonlinearly on the price of equity, the range of attainable reallocations of revenue varies as...

This paper considers characterizations of perfect recall in extensive form games. It is shown that perfect recall can be expressed entirely in terms of the choice partition without any reference to any information sets. When information sets are taken into account it is decomposable into an...