A finite selection model for experimental design of the health insurance study

This paper is concerned with the problem of estimating the parameters of the standard linear model from grouped data, or more generally from aggregated data. A number of alternative solutions are suggested and compared.     

Coordination, Communication, and Common Knowledge: A Retrospective on the Electronic-mail Game

Common knowledge plays an important role in coordination problemsand coordination problems are central to many areas of economicpolicy. In this paper, I review some common-knowledge puzzlesculminating in the electronic-mail game. These puzzles may seemdistant from practical concerns. However, I then argue why insightsderived from this literature are useful in interpreting empiricalevidence of how people coordinate under uncertainty and in understandingthe role of communication in coordinating behaviour.     

Concentration and performance: The new thinking and some Canadian evidence

There is no more pervasive economic doctrine than the belief that an increase in industrial concentration results in greater monopoly power and higher profits, but some recent American research contradicts that traditional hypothesis. This paper summarizes that research and presents new Canadian evidence, taking the first step toward ending Canadian dependence upon cross-section data. Time-series analysis shows that changes in concentration between 1948 and 1965 did not bring the traditionally expected changes in profit rates. Most cross-section tests with the new evidence also contradict the traditional hypothesis. These findings encourage further open-minded questioning and suggest some avenues for additional research.     

ASSET PRICING AND FINANCIAL REPORTING WITH CHANGING PRICES

This study empirically investigates the recent SFAS No. 33 requirements to determine if the inflation disclosures, or information similar to it, are impounded in security returns. An attempt is also made to determine which of the two diverse disclosures best represent the information impomded by the market. The investigation utilizes a methodological framework arising out of currently accepted asset pricing theory. The results suggest that the current cost data parallels the information impounded in security returns and that it provides risk information not included in the commonly employed systematic risk factor, beta.     

The costs and benefits of consumer advisory services: The case of Nottinghamshire

The paper attempts to quantify the costs and benefits arising from consumer protection activity in one area of the UK. The particular activities dealt with in detail are the provision of an agency to assist with consumer complaints, the provision of pre-shopping advice, and the dissemination of price comparison information. In the first case the benefits to consumers substantially outweigh the costs whilst in the last the benefits appear to be trivial. No firm estimate is possible in the case of pre-shopping information since this is jointly supplied and used with other services.