The Cowles Foundation for Research in Economics at Yale University has as its purpose the conduct and encouragement of research in economics. The Cowles Foundation seeks to foster the development and application of rigorous logical, mathematical, and statistical methods of analysis. Among its activities, the Cowles Foundation provides financial support for research, visiting faculty, postdoctoral fellowships, workshops, and graduate students. Cowles regularly sponsors conferences and publishes a working paper series, a reprint series, and monographs.

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Submissions from 1969

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An Analysis of the Importance of the Malleable Capital Assumption in Optimal Growth Models, David M.C. Newbery

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Distributed Lags, Prediction, and Signal Extraction, David M. Grether

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Borrowing-Lending Interest Rate Differentials and the Time Allocation of Consumption, Thayer H. Watkins

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Economic Aspects of Information, Luigi M. Tomasini

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Money and Income: Post Hoc Ergo Propter Hoc?, James Tobin

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The Choice of Techniques in a Dual Economy, David M.C. Newbery

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A Fixed Point Algorithm for Approximating the Optimal Solution of a Concave Programming Problem, Terje Hansen

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An Example of an Algorithm for Calculating General Equilibrium Prices, Herbert E. Scarf

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Game Theory, Behavior and the Paradox of the Prisoners Dilemma — 3 Solutions, Martin Shubik

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Increasing Risk: A Definition and Its Economic Consequences, Michael Rothschild and Joseph E. Stiglitz

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Price Variation Duopoly with Differentiated Products and Random Demand, Richard E. Levitan and Martin Shubik

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A Note on a Variance-Components Model Useful in the Study of Cross-Sections over Time, Marc Nerlove

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On the Applications of a Recent Combinatorial Algorithm, Terje Hansen and Herbert E. Scarf

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Optimal Growth with Scale Economies in Overhead Capital, Martin L. Weitzman

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Comparison of k-Class Estimators When the Disturbances Are Small, Joseph B. Kadane

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Risk Aversion Over Time and a Capital-Budgeting Problem, Alvin K. Klevorick

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Shiftable vs. Non-Shiftable Capital: A Synthesis, Martin L. Weitzman

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The “Bridge Game” Economy: An Exam,ple of Indivisibilities, Martin Shubik

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An Economic Theory of Technological Change, William D. Nordhaus

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The Time Allocation of Consumption under Debt Limitations, Thayer H. Watkins

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A Note On Behavior Towards Risk with Many Commodities, Joseph E. Stiglitz

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Money and Permanent Income: Some Empirical Tests, James Tobin and Craig Swan

Submissions from 1968

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A Long-Run Cost Function for the Local Service Airline Industry: An Experiment on Non-Linear Estimation, George Eads, Marc Nerlove, and William Raduchel

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Optimal Entrepreneurial Decisions in a Completely Stochastic Environment, Nils H. Hakansson

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Some Properties of “Optimal” Seasonal Adjustment, David M. Grether and Marc Nerlove

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Countably Additive Measures in Cores of Games, Yakar Kannai

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Further Evidence on the Estimation of Dynamic Economic Relations from a Time Series of Cross-Sections, Marc Nerlove

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Soviet Postwar Economic Growth and Capital Labor Substitution, Martin L. Weitzman

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Regularity in the Distribution of Participation in Group Discussions, Joseph B. Kadane and Gordon H. Lewis

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Money Illusion, Price Expectations, and the Aggregate Consumption Function, William H. Branson and Alvin K. Klevorick

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Stochastic Theories of Participation, Joseph B. Kadane, Gordon H. Lewis, and John G. Ramage

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Theory of Liquidity Preference and the Term Structure of Interest Rates, Joseph E. Stiglitz

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Lags in Fiscal and Monetary Impacts on Investment in Producers’ Durable Equipment, Charles W. Bischoff

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The Distribution, When the Residuals Are Small, of Statistics Testing Overidentifying Restrictions, Joseph B. Kadane

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A Note on a Simulated Stock Market, Martin Shubik

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Some Experimental Non-Constant-Sum Games Revisited. Perception of Opponent's Payoffs. Part III, Martin Shubik and David H. Stern

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The Effects of Income, Wealth, and Capital Gains Taxation on Risk Taking, Joseph E. Stiglitz

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An Experimental Research in Oligopoly, James W. Friedman

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Notes on Optimal Monetary Growth, James Tobin

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Pitfalls in Financial Model-Building, William C. Brainard and James Tobin

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Quiz Show Problems, Joseph B. Kadane

Submissions from 1967

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A Re-Examination of the Modigliani-Miller Theorem, Joseph E. Stiglitz

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A Note on Taxation, Increasing Returns Due to Set-up Costs and Competitive Equilibrium, Martin Shubik

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Distribution of Income and Wealth among Individuals, Joseph E. Stiglitz

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Iterative Multi-Level Planning with Production Targets, Martin L. Weitzman

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Some Experimental Non-Constant-Sum Games Revisited. Part II, Martin Shubik and David H. Stern

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The Optimal Life of a Patent, William D. Nordhaus

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Some Experimental Non-Constant-Sum Games Revisited. Part I, Martin Shubik and David H. Stern

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An Econometric Study of Cotton Production and Trade before 1860, Gavin Wright

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A Noncooperative View of Oligopoly, James W. Friedman

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Cross-Section Analysis and Bank Dynamics, Donald D. Hester and James L. Pierce

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Maximizing Stationary Utility in a Constant Technology, Richard Beals and Tjalling C. Koopmans

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On the Computation of Equilibrium Prices, Herbert E. Scarf

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Price Strategy Oligopoly with Product Variation, Lloyd S. Shapley and Martin Shubik

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Welfare, Static and Dynamic Solution Concepts, Martin Shubik

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Intertemporal Distribution and ‘Optimal’ Aggregate Economic Growth, Tjalling C. Koopmans

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Part VII: The Nonsymmetric Game: The Generalized Beat-the-Average Solution, Richard E. Levitan and Martin Shubik

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Spectral Analysis of the Relation between Employment Changes and Output Changes, 1958-1966, Daniel S. Hammermesh

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Part V: The Nonsymmetric Game: Joint Maximum, Efficient Solution and Measures of Collusion and Welfare, Richard E. Levitan and Martin Shubik

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The Cournot Equilibrium in a Nonsymmetric Oligopolistic Market (A Business Game for Teaching and Research Purposes: Part VI), Richard E. Levitan and Martin Shubik

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An Empirical Analysis of the Postwar Savings and Loan Industry, John E. Spencer

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A Note on the Limit of the Core of an Exchange Economy, Terje Hansen

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Distributed Lags and Unobserved Components in Economic Time Series, Marc Nerlove

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Part IV: Mathematical Structure and Analysis of the Nonsymmetric Game, Richard E. Levitan and Martin Shubik

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The Role of the Neyman-Pearson Lemma in the Theory of Discrete Search, Joseph B. Kadane

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A Further Comparison of Some Models of Duopoly, Martin Shubik

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An Impossibility Result Concerning the Theory of Decision-Making, Gerald H. Kramer

Submissions from 1966

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The Approximation of Fixed Points of a Continuous Mapping, Herbert E. Scarf

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The Approximation of Fixed Points of a Continuous Mapping, Herbert E. Scarf

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A Note on the Role of Money in Providing Sufficient Intermediation, David Cass and Menahem E. Yaari

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Game Theory and Economic Behavior, Martin Shubik

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Objectives, Constraints and Outcomes in Optimal Growth Models, Tjalling C. Koopmans

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Optimal Employment and Inflation Over Time, Edmond S. Phelps

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Simulation of Socio-Economic Systems. Part II: An Aggregative Socio-Economic Simulation of a Latin American Country, Martin Shubik

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Structural Restrictions and Estimation Efficiency in Linear Econometric Models, Thomas J. Rothenberg

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An Algorithm for a Class of Nonconvex Programming Problems, Herbert E. Scarf

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Estimation of a Fixed Coefficients Vintage Model of Production, Richard Attiyeh

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Some Econometric Problems in the Analysis of Inventory Cycles, Kenneth F. Wallis

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Efficient Estimation with A Priori Information: A Classical Approach, Thomas J. Rothenberg

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Equal Profits as a Fair Division, James W. Friedman

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Notes on the Taxonomy of Problems Concerning Public Goods, Martin Shubik

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Structure of Preference over Time, Tjalling C. Koopmans

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Structure of Preference over Time, Tjalling C. Koopmans

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Simulation of Socio-Economic Systems. Part I: General Considerations, Martin Shubik

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An Empirical Analysis of Risk Taking by Firms in the Savings and Loan Industry, Donald D. Hester

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Application of Signal Extraction Techniques in the Study of Economic Time Series, David M. Grether

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Measurable, Transferable, Comparable Utility and Money, Martin Shubik

Submissions from 1965

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Individual Saving, Aggregate Capital Accumulation, and Efficient Growth, David Cass and Menahem E. Yaari

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Quasi and Generalized Golden Rule Paths: A Study of Commanding Growth Paths, Edmond S. Phelps

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A Re-Examination of the Pure Consumption Loans Model, David Cass and Menahem E. Yaari

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Axioms for Factor Augmenting Technical Progress, Edmond S. Phelps

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The Ramsey Problem and the Golden Rule of Accumulation, Edmond S. Phelps

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Uncertainty and Diversification in International Trade, William C. Brainard and Richard N. Cooper

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An Experimental Study of Cooperative Duopoly, James W. Friedman

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Random Measure Preserving Transformations, Robert J. Aumann

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The Core of an N Person Game, Herbert E. Scarf

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Absorptive Capacity and the Golden Rule of Accumulation, Edmond S. Phelps

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A Model of Fixed Capital Without Substitution, Robert M. Solow, James Tobin, Christian C. von Weizsäcker, and Menahem E. Yaari

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Investment in Humans, Technological Diffusion and Economic Growth, Richard R. Nelson and Edmond S. Phelps

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Investment in Humans, Technological Diffusion and the Golden Rule of Education, Edmond S. Phelps

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A Dynamic Model of the Competitive Firm, Edward Zabel

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A Model of Induced Invention, Growth and Distribution, Emmanuel M. Drandakis and Edmond S. Phelps

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Factor-Price-Frontier Estimation of a ‘Vintage’ Production Model of the Post-war U.S. Nonfarm Business Sector, Edmond S. Phelps and Charlotte Phelps

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The Relation Between Bank Portfolios and Earnings: An Econometric Analysis, Donald D. Hester and John F. Zoellner

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Optimal Output and Price Policies for General Distributed Lag Demand Equations, Robert L. Graves and Lester G. Telser

Submissions from 1962

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An Analysis of the Effects of Transitory Income on Expenditure of Norwegian Households, Harold W. Watts

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On Flexibility of Future Preference, Tjalling C. Koopmans

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The Demand for Cash and Working Balances of Corporations, Alan W. Heston

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The Wage-Price Productivity Nexus, Ronald G. Bodkin

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Welfare Economics and the Theory of Second Best, Otto A. Davis and Andrew B. Whinston

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Non-Existence of Consistent Estimator Sequences and Unbiased Estimates: A Practical Example, H. S. Konijn

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On a Theorem of Halmos Concerning Unbiased Estimation of Moments, H. S. Konijn

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Stationary Utility and Time Perspective, Peter A. Diamond, Tjalling C. Koopmans, and Richard E. Williamson

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Models of the Joint Demand for Cash and for an Interest-Bearing Asset. Part One, Tore Johansen

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On the Existence of a Subinvariant Measure, Tjalling C. Koopmans and Richard E. Williamson

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Price Guides in Decentralized Organization, Andrew B. Whinston

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On a Two Sector Model of Growth, T. N. Srinivasan

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The Expenditures of the Firm on Research and Development, Edwin Mansfield

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Unilateral Markets. Part I: Price-Quantity Markets, George J. Feeney

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Size of Firm, Market Structure, and Innovation, Edwin Mansfield

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An Empirical Evaluation of Theories of Saving, Harold W. Guthrie

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Substitution, Fixed Proportions, Growth and Distribution, Edmond S. Phelps

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The Speed of Response of Firms to New Techniques, Edwin Mansfield

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Intrafirm Rates of Diffusion of an Innovation, Edwin Mansfield

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Inventory Investment, Michael C. Lovell

Submissions from 1961

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New Concepts and Techniques for Equilibrium Analysis, Gerard Debreu

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On a Theorem of Scarf, Gerard Debreu

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An Inter-City Consumption Function, Harold W. Watts

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Corporate Cash and Security Holdings: An Empirical Study of Cash, Securities and Other Current Accounts of Large Corporations, Alan W. Heston

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Entry, Gibrat's Law, Innovation, and the Growth of Firms, Edwin Mansfield

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The Construction of a Business Game for Teaching and Research Purposes (Part 3), Martin Shubik

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A Note on Uncertainty, Bayesian Inference and Competitive Behavior, Phoebus J. Dhrymes

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Some Empirical Estimates of Short Run Price and Output Policies, Edwin S. Mills

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A Business Game for Teaching and Research Purposes (Part 2A), Martin Shubik

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Administered Prices and Imports: The Steel Industry, Lawrence B. Krause

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Economic Growth and Wicksell's Cumulative Process, Martin J. Beckmann

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Input-Output and Activity Analysis in Industrial Concerns, Alan S. Manne

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Monetary Policy, Debt Management and Interest Rates: A Quantitative Appraisal, Arthur M. Okun

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On Devising Unbiased Estimators for the Parameters of the Cobb-Douglas Production Function, Phoebus J. Dhrymes

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Spatial Distribution of Industry, H. C. Bos

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A Business Game for Teaching and Research Purposes (Part 1), Martin Shubik

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Incentives, Decentralized Control, the Assignment of Joint Costs and Internal Pricing, Martin Shubik

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Investment Criteria and Choice of Techniques of Production, T. N. Srinivasan

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Output, Sales and Inventory Policy in the Competitive Firm and the Stability of a Competitive Market, Edwin S. Mills

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Some Informal Comments on Models of Decision Processes Under Uncertainty, Martin Shubik

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The Growth of Television Ownership in the United Kingdom, Andrew D. Bain

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An Empirical Examination of a Commercial Bank Loan Offer Function, Donald D. Hester

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An Analysis of the New View of Investment, Edmond S. Phelps

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Long Term Consequences of the New View of Investment, Edmond S. Phelps

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The Accumulation of Risky Capital: A Discrete-Time Sequential Utility Analysis, Edmond S. Phelps

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Comparative Advantage and Development Policy, Hollis B. Chenery

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Estimation in the Linear Decision Model, Walter D. Fisher

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Extended Edgeworth Bargaining Games and Competitive Equilibrium, Martin Shubik

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Objective Functions and Models of Corporate Optimization, Martin Shubik

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Some Experimental Non-Zero Sum Games with Lack of Information about the Rules, Martin Shubik

Submissions from 1960

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Approaches to the Study of Decision-Making Relevant to the Firm, Martin Shubik

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Capital Risk and Household Consumption: A Sequential Utility Analysis, Edmond S. Phelps

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Factors Affecting the Occupational Migration of Labor from Agriculture, Charles H. Berry

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Patterns of United States Imports, 1947-1958, Lawrence B. Krause

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An Objective Permanent Income Concept for the Household, Harold W. Watts

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Inter-Generation Transfers of Wealth and the Theory of Saving, James Tobin and Harold W. Guthrie

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Partial Trace Correlation Theory, John W. Hooper

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Corporation Dividend Payout Ratios and Target Ratios — Their Significance and Determination, Guy Stevens

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Product-Mix Alternatives: Flood Control, Electric Power, and Irrigation, Alan S. Manne

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Programming of Economic Development, Alan S. Manne

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Demand for Tourists’ Goods and Services in a World Market, Harold W. Guthrie

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A New Technique in Equilibrium Analysis, Gerard Debreu

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A Keynesian Model Extended by Explicit Demand and Supply Functions for Investment-Goods, Bjorn Thalberg

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Forced Saving in a Keynesian Economy: An Analysis of Demand-Pull Inflation, Michael C. Lovell

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Forced Saving in a Keynesian Economy: An Analysis of Demand-Pull Inflation, Michael C. Lovell

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Buffer Stocks, Sales Expectations, and Stability: A Multi-Sector Theory of the Inventory Cycle, Michael C. Lovell

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Buffer Stocks, Sales Expectations, and Stability: A Multi-Sector Theory of the Inventory Cycle, Michael C. Lovell

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A Model of Bank Portfolio Selection, Richard C. Porter

Submissions from 1959

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Comment on ‘Interindustry Economics’ by Chenery and Clark, Alan S. Manne

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Investment, Replacement, and an Index of Technology, Benton F. Massell

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Manufacturers’ Inventories, Sales Expectations, and the Acceleration Principle, Michael C. Lovell

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On the Appraisal of Cyclical Turning Point Predictors, Arthur M. Okun

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Analysis of a Production Problem by Dynamic Programming, Martin J. Beckmann

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Stationary Ordinal Utility and Impatience, Tjalling C. Koopmans

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Theory of an Efficient Several-Person Firm, Jacob Marschak

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Lagrange Multipliers Revisited, Morton Slater

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Some Examples of Global Instability of the Competitive Equilibrium, Herbert E. Scarf

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Consumers’ Propensities to Hold Liquid Assets, Harold W. Guthrie

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Some Team Models of a Sales Organization, C. Bartlett McGuire

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The Error of Forecast for Multivariate Regression Models, John W. Hooper and Arnold Zellner

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The Error of Forecast for Multivariate Regression Models, John W. Hooper and Arnold Zellner

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Topological Methods in Cardinal Utility Theory, Gerard Debreu

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Binary Choice Constraints on Random Utility Indicators, Jacob Marschak

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On the Job Shop Scheduling Problem, Alan S. Manne

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Comparisons of Information Structures, C. Bartlett McGuire

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On ‘An Identity in Arithmetic', Gerard Debreu

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Remarks on the Economics of Information, Jacob Marschak

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A Dynamic Programming Model of the Consumption Function, Martin J. Beckmann

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Consumer Expenditures and the Capital Account, James Tobin and Harold W. Watts

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Random Orderings and Stochastic Theories of Response, H. D. Block and Jacob Marschak

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A Capital-Intensive Approach to the Small Sample Properties of Various Simultaneous Equation Estimators, Robert Summers

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A Few Remarks on the Assortment Problem, Wieslaw Sadowski

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Efficient and Viable Organizational Forms, Jacob Marschak

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Financial Intermediaries and the Effectiveness of Monetary Controls, James Tobin and William C. Brainard

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Financial Intermediaries and the Effectiveness of Monetary Controls, James Tobin and William C. Brainard

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Linear Programming and Sequential Decision Models, Alan S. Manne

Submissions from 1958

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A Theory of Life Insurance Company Portfolio Selection, Leroy S. Wehrle

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Economic Theory of Teams. Chapter 3, Jacob Marschak and Roy Radner

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Economic Theory of Teams. Chapter 5, Jacob Marschak and Roy Radner

An Inventory Model for Repair Parts — Approximations in the Case of Variable Delivery Time, Martin J. Beckmann and Richard F. Muth

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An Inventory Policy for Repair Parts, Martin J. Beckmann

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Testing for Neutrality of Technological Change (Is Technological Change Neutral?), Sidney G. Winter

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Economic Theory of Teams. Chapter 2, Jacob Marschak and Roy Radner

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Capital Formation and Technological Change, Benton F. Massell

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Cardinal Utility for Even-chance Mixtures of Pairs of Sure Prospects, Gerard Debreu

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Consumer Conformity in a Sample of College Students, Donald D. Hester

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Economic Theory of Teams. Chapter 1, Jacob Marschak and Roy Radner

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Limit Distributions of Failure Time for Series — Parallel Systems, Roy Radner

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Capacity Expansion and Probabilistic Growth, Alan S. Manne

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Capacity Expansion and Probabilistic Growth, Alan S. Manne

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Some Models of a Sales Organization, C. Bartlett McGuire

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Estimation of an Index of Site Productivity, George M. Furnival and Richard N. Rosett

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Returns to Scale in Business Administration, Martin J. Beckmann

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An Analysis of the Distribution of Wages and Salaries in Great Britain, T. P. Hill

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On Incentives to Forecasters and to Decision Makers under Uncertainty, John C. Harsanyi

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The Measurement of Capacity, Lawrence R. Klein and M. David

Submissions from 1957

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A Review of Some Economic Forecasts for 1955 and 1957, Arthur M. Okun

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Bargaining in Ignorance of the Opponents’ Utility Function, John C. Harsanyi

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Restatement of the Theory of Normal Backwardation, Hendrik S. Houthakker

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Measures of Relative Income for Testing Theories of Consumer Behavior, Harold W. Guthrie

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On the Predictive Value of Consumer Intentions and Attitudes, James Tobin

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Random Orderings, H. D. Block and Jacob Marschak

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The Value of Anticipations Data in Forecasting National Product, Arthur M. Okun

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A Target Assignment Problem, Alan S. Manne

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Consumer Response to Innovation: Television, Thomas F. Dernburg

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Long-Run Income Expectations and Consumer Saving, Harold W. Watts

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Stochastic Choice and Cardinal Utility, Gerard Debreu

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Alternative Forecasts of Saving 1947-56, James Tobin

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The Estimation of Distributed Lags, Lawrence R. Klein

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Working Wives: An Econometric Study, Richard N. Rosett

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A Note on Least Squares Bias in Household Expenditure Analysis, Robert Summers

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The Application of Linear Programming to Team Decision Problems, Roy Radner

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The Estimation of Relationships in which the Dependent Variable is Subject to Inertia, Richard N. Rosett

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Theory of Teams: Introduction, Jacob Marschak

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Minimax Estimation for Linear Regressions, Roy Radner

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A Simplex Method for the Portfolio Selection Problem, Harry M. Markowitz

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On the Two Bin Inventory Policy: An Application of the Arrow-Harris-Marschak Model, Martin J. Beckmann and Richard F. Muth

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Water Storage Policy in a Simplified Hydroelectric System, Tjalling C. Koopmans

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Consumer Debt and Spending: Some Evidence from Analysis of a Survey, James Tobin

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Experimental Tests of Stochastic Decision Theory, Jacob Marschak and Donald Davidson

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Programming of Economic Lot Sizes, Alan S. Manne