An alternative condition, called reduction invariance, is given to derive Prelec's (1998) form for the weighting function in separable utility theory. The condition, which is a variant on the reduction of compound gambles, is appreciably simpler and more empirically testable than Prelec's...

This paper traces the discovery of the Cobb-Douglas function. There were four antecedents to Cobb and Douglas; von Thunen, Mill, Pareto and Wicksell. The demand functions specified by Mill and Pareto implied the Cobb-Douglas utility function and von Thunen and Wicksell stated the Cobb-Douglas...

A generalization of the endogenous threshold model is developed by extending this class to a multivariate framework and to cases where the feedback acts at multiple lags. The feedback is specified, following Beaudry and Koop, by a variable which measures the depth of recessions. We give...

The purpose of this paper is to present traditional and more recent procedures for estimation and testing of systems that contain non-stationary variables. The aim throughout is not to prove asymptotic results, but rather to weigh the pros and cons of using each method according to the...

The modelling of rare events via a Poisson distribution sometimes reveals substantial over-dispersion, indicating that some unexplained discontinuity arises in the data. We suggest modelling this over-dispersion by a Poisson mixture.

We propose a perfect sampler for mixtures of distributions, in the spirit of Mira and Roberts (1999), building on Hobert, Robert and Titterington (199). The moethod relies on a marginalisation akin to Rao-Blackwellisation which illustrates the Duality Principle of Diebolt and Robert (1994) and...

Prediction is based on past cases. We assume that a predictor can rank eventualities according to their plausibility given any memory that consists of repetitions of past cases. In a companion paper, we show that under mild consistency requirements, these rankings can be represented by numerical...

The paper argues for the formal investigation of conditions under which that preference reltions are definable in various simple languages. An example of such an investigation is given.

I will sketch the history of the so-called turnpike theorems and describe some interesting recent developments regarding them. I will also discuss the attempt to apply the ideas of turnpike theorems in the literature of optimal capital accumulation to the theory of competitive equilibrium over...