In this paper, we study implementation in "economic environments". It is shown that there is a dense subset of the set of preference profiles such that given an arbitrary social choice function, f and e 0, there exits another social choice function g, g within e of f uniformly, and g...

We develop a theoretical model of the dynamics of an industry over the business cycle. In the economy, both aggregate demand and the productivity of a firm's technology evolve stochastically. Each period, firms must choose whether to produce or to exit and attempt to sell off their resources to...

When individual statistics are aggregated through a strictly monotone function to an aggregate statistic, common knowledge of the value of the aggregate statistic does not imply, in general, constancy of the individual statistics. This paper discusses two circumstances where it does occur. The...

In this paper we study the production and pricing of a good by a single supplier (such as a monopolist or government) under some given optimality criterion--for example, profit maximization or social benefit maximization. In general, this may require discriminatory pricing. The primary focus...

When individual statistics are aggregated through a strictly monotone function to anaggregate statistic, common knowledge of the value of the aggregate statistic does not imply, in general, that the individual statistics are either equal or constant. This paper discusses circumstances where...