One can in principle calculate the impact of a development project on various areas of concern to the policymaker. While some relationships among variables are specific to a particular project, there are also relationships that are common to all projects. A model of a latter would therefore be a...

Results of various experiments reported in recent literature have shown repeated violations of expected utility theory. In the model of this paper, expected utility is only first of three criteria that determine choices under uncertainly--the second criterion is the probability of doing better...

This note shows the direct comparability of the beta coefficients of ordinary scalar variables and of classificatory vector variables. Accordingly, even when both kinds of variables appear in a regression equation, their relative contributions to the variation of the regressand can be ranked by...

Assuming that the parties to a conflict have lexicographic preference, an arbitration model is formulated whose solution is fair in the sense that if it is not arbitrary. The solution, which is simply an extension of the idea of Patero optimality to the multidimensional utility case, satisfies...

Two models of group choice, different in the use of the Pareto principle, are considered in a framework of lexicographic preferences. The first model appears to have some explanatory value; the second is more normative. Both give a role to simple majority rule in determining the components that...

This paper explores the model of the imperfectly competitive firm, facing demand uncertainly, that sets a price on its product so as to maximize the probability of obtaining satisfactory profits. It is a consequence that the price is higher with higher demand or higher costs. With all firms as...

This paper sketches a model of choice that is consistent with the observation that a smaller family size is usually associated with female employment and the increasing amount of evidence that fertility rises with family income and the wife's education at relatively low levels of income and...

Risk aversion and the riskiness of assets are interpreted in terms of a model of portfolio choice where the maximand is conditional on the probability of satisfying a minimum constraint on the future value of the portfolio. It is a consequence that the riskiness of the average asset in the...

A safety first decision criterion suggests a secondary objectives when the safety condition is satisfied. In the model of this paper, the product mix of a smallholder pursuing safety first in one where the crops produced are equally safe -- he cannot afford to gamble and he does not. When the...

This paper develops some implications of consumer choice when preferences are lexicographic, by formulating the consumer's choice as a nonlinear programming problem. Under certain conditions, it turns out that some familiar results of standard consumer theory (including the Slutsky equation)...