The type-agent core for exchange economies with asymmetric information

The type-agent core is a new solution concept for exchange economies with asymmetric information. It coincides with the set of subgame-perfect equilibrium outcomes of a simple competitive screening game. Uninformed intermediaries help the agents to cooperate in an attempt to make some profit. The paper extends the work of Perez-Castrillo [Cooperative outcomes through non-cooperative games, Games Econ. Behav. 7 (1994) 428-440] to exchange economies with non-transferable utility and asymmetric information. The type-agent core is a subset of Wilson's coarse core [Wilson, Information, efficiency, and the core of an economy, Econometrica 46 (1978) 807-816]. It is never empty, even though it may be a strict subset of Wilson's fine core. In addition, it converges towards the set of constrained market equilibria as the economy is replicated.     

State Trading and Tariff Rate Quotas: The Case of Korea's Rice Imports

This paper analyzes the effects of trade liberalization of tariff‐rate quotas under import “state trading enterprises” (STEs) in agriculture. An analytical framework is provided to determine the importance of which instrument is binding under competition (the in‐quota or out‐of‐quota tariff or the quota) and under the initial STE equilibrium. It also depends on whether or not the STE controls both the domestic market prices and owns/controls the import quota (and whether it is obligated to fill the quota or not). An empirical example of the rice STE in South Korea has simulations showing that an increase in imports can be achieved through a moderate expansion of the quota or a decrease in the out‐of‐quota tariff to the level where it becomes binding. However, a significant level of quota expansion induces the STE to switch to the autarky solution and social welfare declines.     

Selection dynamics and adaptive behavior without much information

This paper uses the experimental method to investigate behavior in a coordination game when the information available to subjects is limited to their feasible choices and their experienced payoffs. In the experiment subjects converge to an absorbing state at rates that are orders of magnitude faster than reinforcement learning algorithms, but slower than under complete information. This state is very close to a mutual best response outcome. All cohorts converged to the market statistic predicted by the interior equilibrium regardless of the information conditions or the stability conditions. Eric Battalio programmed the graphical user interface. The National Science Foundation and Texas Advanced Research Program provided financial support. Any opinions, findings, and conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of the National Science Foundation or the Texas Advanced Research Program.     

CONSUMPTION GROWTH ACCOUNTING

The methodology in this paper combines an input–output structural decomposition approach with the supply-side perspective of mainstream growth accounting. In explaining the intertemporal change in consumption per worker, three sets of effects are distinguished. First, contributions due to several types of technological changes are considered. Second, effects caused by changes in international trade are discerned. Third, composition effects that reflect structural shifts in demand (including changes in tastes) are quantified. As an empirical illustration, we analyze the developments in the U.K. between 1979 and 1990.     

Bioenergy Crop Production in the United States: Potential Quantities, Land Use Changes, and Economic Impacts on the Agricultural Sector

The U.S. Departments of Agriculture and Energyjointly analyzed the economic potential for,and impacts of, large-scale bioenergy cropproduction in the United States. Anagricultural sector model (POLYSYS) wasmodified to include three potential bioenergycrops (switchgrass, hybrid poplar, and willow). At farmgate prices of US $2.44/GJ, anestimated 17 million hectares of bioenergycrops, annually yielding 171 million dry Mg ofbiomass, could potentially be produced at aprofit greater than existing agricultural usesfor the land. The estimate assumes highproductivity management practices are permittedon Conservation Reserve Program lands. Traditional crops prices are estimated toincrease 9 to 14 percent above baseline pricesand farm income increases annually by US $6.0billion above baseline.At farmgate prices of US $1.83/GJ, anestimated 7.9 million hectares of bioenergycrops, annually yielding 55 million dry Mg ofbiomass, could potentially be produced at aprofit greater than existing agricultural usesfor the land. The estimate assumes managementpractices intended to achieve highenvironmental benefits on Conservation ReserveProgram lands. Traditional crops prices areestimated to increase 4 to 9 percent abovebaseline prices and farm income increasesannually by US $2.8 billion above baseline.     

Joseph A. Schumpeter’s contributions in the area of fiscal sociology: a first approximation

Fiscal sociology deals with the ramifications of the fiscal activities of the state into areas which are not their primary target. These effects may occur in sectors not directly affected such as related markets, but they may also occur outside the economic sphere proper, such as in politics, culture, religion, or society at large. Schumpeter contributed to the research project of fiscal sociology throughout his life. In this first approximation, his contribution is discussed in terms of his appreciation of three important scholars who all made landmark contributions to fiscal sociology: Franz Oppenheimer, Werner Sombart, and Gustav (von) Schmoller.JEL Classification: B15, H39     

发言摘登

这次会议讨论的是一个很重要的题目──国企转型与企业文化构建。我们现在对企业文化的认识,如果同10年前相比,可以说是跨越了一个世纪。当时感觉企业文化是个新鲜东西,并不知道它有多大用途,好像很时髦,多数人对它的认识还是狭窄的、浮面的。10年后的今天,经过理论界的探索研究,特别是经过企业界的创新实践,使得我们对企业文化的认识有了很大的发展。中外企业文化杂志社利用庆祝创刊10周年的机会,组织大家共同研讨国企转型与企业文化构建,这个题目选得非常好。当前,企业文化在中国的需求,很重要的一点就是与国企转型联系在了一起。企业文化…     

Temporary Liaisons: The Commitment of ‘Temps’ Towards Their Agencies*

abstract The majority of research on organizational commitment has focused on commitment in traditional, ongoing and open‐ended relationships. The commitment of employees in non‐standard work arrangements such as temporary employment has been subject to much less theoretical and empirical investigation. In this study, we examine the affective and continuance commitment of temporary workers towards their agency and its determinants. We distinguish two groups of determinants: the process by which the temporary worker chose a particular agency and the support provided by the agency. The findings can be summarized as follows: (1) affective commitment among temps is generally higher than their continuance commitment; (2) having more alternative agencies to choose from (i.e., volition) does not enhance the commitment of temporary workers; (3) a public choice for a particular agency raises both types of commitment, whereas the perceived agency dependence created by the choice increases continuance, but not affective commitment; and (4) both types of commitment are positively influenced by agency supportiveness, reflected in the way the agency deals with problems, the career support it provides, and the way it keeps in close contact with its temporary workers. Finally, the results suggest that factors raising affective commitment may ‘spill over’ to increase continuance commitment.     

Popularising Delphi method

The article reports on a methodical part of a combined substantive and methodical investigation experimenting with a new type of Policy Delphi method. The common problem defined for both parts was the question whether Delphi method could be transformed in an instrument of controlling technological change by employees. The question was answered positively by the participating (bank) employees, all union members engaged with an automatisation project, themselves. Self rating scales, an evaluation questionnaire and numerous data collected about the research process showed that the most relevant social categories of participants managed to serve as “experts” according to the high levels of cognition, effort, involvement and self-confidence required in a Delphi research project. Participants with low job level, women and non-trained union members joined in very well. The special steps required to broaden a successful participation of all categories, particular methods and techniques of information transmitting questioning and reporting, did not violate the quality of scientifically valid information gathering. So the result was a practical and scientific instrument.     

Municipal welfare functions

In this paper the concept of a municipal welfare function is defined. It reflects the evaluation by local authorities of several levels of local expenditures. On the basis of an extensive survey among all Dutch municipal authorities these functions are estimated for about 550 Dutch municipalities with respect to total expenditures and differentiated with respect to several portfolios, like public works, education, etc. The variation of the estimated municipal welfare parameters is explained by objectively measurable municipal characteristics like the number of the inhabitants, age distribution of inhabitants and houses, number of unemployed, regional situation.