摘要:

The Pareto optimality and price behavior of English and Dutch oral auctions, and First‐Price and Second‐Price sealedbid auctions are compared under various procedures for assigning valuations among cash motivated bidders. The Vickrey propositions with respect to the mean and variance of prices under the English, Dutch and Second‐Price auctions are not falsified by the data. Individual behavior and prices in the First‐Price auction deviates considerably from Vickrey's Nash postulate. Behaviorly, the English and Second‐Price auctions appear to be isomorphic, but the Dutch and First‐Price auctions may not be

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1980.tb00556.x

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

摘要:

Rawls (1971) argued that individuals choosing institutions from behind the veil of ignorance would unanimously agree on institutions that maximized the imputations of the least advantaged persons in the post‐choice social outcome. Critics have argued that the Rawlsian contract requires risk averse individuals. Our paper focuses on the contractual element inherent in constitutional choice when individuals have differing subjective estimates of the working properties of different institutions. We show that in genuinely Rawlsian contractual settings there may exist a general bias toward the selection of institutions that embody maximin solutions without the assumption of risk aversio

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1980.tb00557.x

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

摘要:

There are large differences among the states in the degree to which consumer products are regulated. This paper examines the determinants of these state differences in four regulatory areas: credit, prescription drug advertising, mobile home sales, and door to door sales. Costs and benefits expected to result to particular groups from regulation are analyzed and used to explain whether or not particular states enact particular regulations. The results of this paper suggest that both consumer and industry groups play a role in determining regulatory patterns.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1980.tb00558.x

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

摘要:

The health maintenance organization (HMO) is an alternative to the traditional fee‐for‐service health care system in the United States. Other studies have shown that the HMO reduces hospital utilization and offers greater benefit packages than fee‐for‐service. This paper tests whether the presence of HMO's provides effective competitive pressure on Blue Cross, the largest insurer of hospital costs. The cross sectional regression analysis supports the hypotheses that Blue Cross has reduced hospital utilization and increased benefit packages in response to HMO competition. Consequently, competitive forces are shown to be operative in at least one area of heal

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1980.tb00559.x

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

摘要:

The article argues that chronic overgrazing on the Navajo Reservation is the result of policies of the BIA and the Tribal Council. In support of that hypothesis the paper outlines the nature of property rights to grazing land on the Reservation. It shows that BIA and Tribal Council actions have led to the proliferation of small herds since 1933. Small herds increase the resource costs of establishing and enforcing property rights, and they increase the political costs of requiring compliance with grazing rules. Statistical tests reveal a close relationship between herd size and overstocking of the range. The paper concludes that in the absence of the constraints of a private property system, it may be necessary for an outside agency to regulate grazing to avoid the problem of the Commons.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1980.tb00560.x

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

摘要:

Analysis of 1970 census data for eight ethnic groups indicates that, other things equal, recent immigrants generally receive lower wages and earnings than second generation workers, but second generation workers receive higher wages and earnings than do third. Recent immigrants and third generation men work significantly fewer hours per year than do earlier immigrants and second generation men. These findings are consistent with the hypothesis that increases in U. S. specific human capital over generations are offset by decreases in motivation. The higher motivation of immigrants appears to reflect greater preference for money over family ties, leisure, and easy work as compared with non‐immigrants. immigrant

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1980.tb00561.x

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

摘要:

This paper contains estimates of the determinants of the commodity composition of U. S. trade flows and of price‐cost margins in U. S. domestic manufacturing in a simultaneous context. Above‐competitive profits in U. S. manufacturing appear to provide a powerful incentive to import competition. These imports, in turn, provide a check on the ability of domestic firms to earn monopoly rents. The estimates indicate that failure to account for imports leads to a substantial underestimation of the impact of market structure on price‐cost margins. The linkages between exports and domestic market conditions appear to be of second‐order imp

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1980.tb00562.x

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

摘要:

This paper uses detailed data on the salary histories of individuals to show how an individual's observed earnings growth can be decomposed into growth occurring on the job and growth occurring between jobs. It is shown that the relative contributions of these two components to overall earnings growth differ across race and education groups. Further, as predicted by the specific training hypothesis, the more mobile individuals are found to have smaller on‐the‐job earnings gains in absolute terms than the less mob

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1980.tb00563.x

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1980.tb00564.x

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1980.tb00565.x

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY