We prove a theorem on the existence of general equilibrium for a production economy with unordered preferences in a topological vector lattice commodity space. Our consumption sets need not have a lower bound and the set of feasible allocations need not be topologically bounded. Furthermore, we...

Both the theory and practice of using hedonic regressions to quality adjust inflation estimates are implicitly developed for monopolistic competitive markets. We demonstrate conditions required for consistent OLS estimation of hedonic regression for an oligopoly. To reflect firm heterogeneity,...

This paper studies the production and soil depletion choices of a risk averse farmer. The study applies a one period, two date model with uncertainty in both production and end-of-period land price. The farmer makes production, and soil depletion choices at date 1 to maximise the expected...

Subsidised credit, a key component of many programs designed to facilitate rapid adoption of new agricultural technologies in developing countries, has been almost unanimously condemned by economists on both efficiency and equity grounds. This paper argues that such analysis have typically...