In 1944, Marschak and Andrews published a seminal paper on how to obtain consistent estimates of a production technology. The original formulation of the econometric model regarded the joint estimation of the production function together with the first-order necessary conditions for...

In 1944, Marschak and Andrews published a seminal paper on how to obtain consistent estimates of a production technology. The original formulation of the econometric model regarded the joint estimation of the production function together with the first-order necessary conditions for...

In a recent paper, Mundlak assumes that the price-taking, risk-neutral and profit maximizing entrepreneur makes his decisions on the basis of a planning model that maximizes expected profit using expected prices. In the same paper, the author asserts that when there is no sample price variation...

An exhaustive comparative statics analysis of a general rate-of-return regulated, profit-maximizing model of the firm is carried out under a minimal set of assumptions. The resulting intrinsic comparative statics are contained in a positive semi-definite matrix. Each element of this matrix...

Levy (2002) and Dragone (2009) showed that rational agents tend to become overweight. Their result is shown to be equivalent to a seemingly innocuous assumption placed on the instantaneous utility function. It is also shown that their models can rationalize agents who are underweight, or even...

The intrinsic comparative statics properties of a general rate-of-return regulated, profitmaximizing model of a monopolist facing a command-and-control pollution constraint are derived. Recent advances in the theory of comparative statics are used to derive the basic comparative statics of the...

Necessary and sufficient conditions from optimal control theory that are typically used when studying finite and infinite horizon natural resource economics problems are stated. In the finite horizon case their use is demonstrated by deriving an explicit solution of a model describing the...

The comparative dynamics of locally differentiable feedback Nash equilibria are derived for the ubiquitous class of autonomous and exponentially discounted infinite horizon differential games. The resulting refutable implications are intrinsic to the said class of differential games, and thus...

The envelope theorem is extended to cover the class of discounted and autonomous infinite horizon differential games that possess locally differentiable Nash equilibria. The theorems cover open-loop and feedback information structures and are applied to an analytically solvable linear-quadratic...

A new comparative statics formalism using generalized compensated derivatives is presented that, in contrast to existing methodologies, directly yields constraint-free semidefiniteness results for any differentiable, constrained optimization problem. The formalism provides a natural and powerful...