Economic Theory, Dynamics and Markets Essays in Honor of Ryuzo Sato
Economic Theory, Dynamics, and Markets. The collection of essays in honor of Ryuzo Sato, written by his colleagues and students, covers the many fields of economic theory and policy to which he has contributed. The first section pays tribute to his contri
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Research Monographs in Japan-U.S. Business & Economics
series editors Ryuzo Sato Rama V. Ramachandran Stern School of Business New York University Kazuo Mino Kobe University Japan
Other books published in the series: Sato and Ramachandran Conservation Laws and Symmetry: Applications to Economics and Finance Sato, Ramachandran, and Hori Organization, Performance, and Equity: Perspectives on the Japanese Economy Sato, Grivoyannis, Byrne, and Lian Health Care Systems in Japan and the United States: A Simulation Study and Policy Analysis Sato and Ramachandran Symmetry and Economic Invariance: An Introduction Sato, Ramachandran, and Mino Global Competition and Integration
ECONOMIC THEORY, DYNAMICS AND MARKETS Essays in Honor of Ryuzo Sato
edited by
Takashi N egishi Aoyama Gakuin University Japan Rama V. Ramachandran New York University U.S.A Kazuo Mino Kobe University Japan
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SPRINGER SCIENCE+BUSINESS MEDIA, LLC
Library of Congress Cataloging-in-Publication Data Economic theory, dynamics and markets : essays in honor of Ryuzo Sato / edited by Takashi Negishi, Rama V. Ramachandran, Kazuo Mino. p. cm.-(Research monographs in Japan-U.S. business & economics ; 5) lncludes bibliographical references. ISBN 978-1-4613-5673-8 ISBN 978-1-4615-1677-4 (eBook) DOI 10.1007/978-1-4615-1677-4 1. Economics. 2. Macroeconomics. 3. Statics and dynamics (Social sciences)
4. Sato, Ryuza, 1931-I.Negishi Takashi, 1933-II.Ramachandran, Rama V.III.Mina, Kazua, 1949-IV. Series. HEI71 .E2474 2001 330.1-dc21
00-140183
Copyright © 2001 by Springer Science+Business Media New York Originally published by K1uwer Academic Publishers in 2001 Softcover reprint of the hardcover 1st edition 2001 AlI rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher, Springer Science+Business Media, LLC.
Printed an acid-free paper.
CONTENTS
Preface
xi
Contributing Authors
xv
Section I: Economic Theory and Methodology 1 One Way to Measure How Much Second Best "Second Best" Is Paul A. Samuelson
1
2
The Marshallian Macroeconomic Model Arnold Zellner
19
3
Production Theory as a Part of a Dynamic General Disequilibrium System Wilhelm Krelle
31
4
Kinds of Theory Eric Maskin 5 Maximality, Optimality, and Duality: A Synthesis of Some Recent Results Kotaro Suzumura
45
57
vi
ECONOMIC THEORY, DYNAMICS AND MARKETS
6
FIML Estimation of Sample Selection Models for Count Data William H. Greene
73
7
Long-Run Rigidity in Labor Markets Kiyohiko G. Nishimura, Yoshihiro Tamai 8 Incomplete Contracts in Public Procurement Dieter Bos
93
105
9
Non-Stationary Intergenerational Altruism Hajime Hori
121
Section II: Macroeconomics and Dynamics
10 The Speed of Adjustment Richard A. Musgrave
133
11 Interactions in the Growth of Science and the Economy Martin Beckmann
143
12 Conservation Laws and Optimal Paths in External Two Sector Growth Model Fumiyo Fujiwa
