https://www.rivisteweb.it/doi/10.1410/118341
Abstract. The economic causes of nineteenth-century agrarian unrest in the United States continue to be debated. This paper examines how Populism was influenced by errors in farmers’ forecasting of crop prices. These losses are quantified by applying a model that makes minimal assumptions about how farmers formed price expectations. Both wheat and cotton producing states exhibit a pattern of forecasting errors peaking during the height of the Populist movement in the 1890s. The losses from forecasting error were substantial relative to losses from exogenous factors such as weather and pests.
Abstract. The economic causes of nineteenth-century agrarian unrest in the United States continue to be debated. This paper examines how Populism was influenced by errors in farmers’ forecasting of crop prices. These losses are quantified by applying a model that makes minimal assumptions about how farmers formed price expectations. Both wheat and cotton producing states exhibit a pattern of forecasting errors peaking during the height of the Populist movement in the 1890s. The losses from forecasting error were substantial relative to losses from exogenous factors such as weather and pests.
In Qeios, online open access journal with signed reviews, 10/25/2025.
https://www.qeios.com/read/MW5WXQ.2
With William E. Watkins
Economists conventionally attribute inequality in employee compensation to differences in the marginal productivities of workers. However, it is possible that inequality arises from an entirely different source – the network structure of the organizations to which the employees belong.
https://www.qeios.com/read/MW5WXQ.2
With William E. Watkins
Economists conventionally attribute inequality in employee compensation to differences in the marginal productivities of workers. However, it is possible that inequality arises from an entirely different source – the network structure of the organizations to which the employees belong.
Ecological Economics 201 (November 2022)
(with Charles F. Manski and Alan H. Sanstad)
https://authors.elsevier.com/sd/article/S0921-8009(22)00214-2
Abstract
Integrated assessment models have become the primary tools for comparing climate policies aimed at reducing greenhouse gas emissions. Such policies have often been identified by considering a planner who seeks to make optimal trade-offs between the costs of carbon abatement and the economic damages from climate change. The planning problem has been formalized as one of optimal control, the objective being to minimize the total costs of abatement and damages over a time horizon.
SN Business and Economics (2022) 2:92
https://doi.org/10.1007/s43546-022-00260-z
Abstract
The “efficiency-distribution” model introduced by Houthakker in 1955 offers a flexible approach to production theory that does not require the measurement of capital and other fixed assets. Thus it avoids the theoretical problems associated with the Cambridge controversies and with Franklin Fisher’s critiques of aggregation. The efficiency distribution model can be empirically implemented using only observed productivity distributions and the share of output received by the non-fixed factors.
https://doi.org/10.1007/s43546-022-00260-z
Abstract
The “efficiency-distribution” model introduced by Houthakker in 1955 offers a flexible approach to production theory that does not require the measurement of capital and other fixed assets. Thus it avoids the theoretical problems associated with the Cambridge controversies and with Franklin Fisher’s critiques of aggregation. The efficiency distribution model can be empirically implemented using only observed productivity distributions and the share of output received by the non-fixed factors.
(with Charles F. Manski and Alan H. Sanstad)
US CLIVAR VARIATIONS, Vol. 20, No.
US CLIVAR VARIATIONS, Vol. 20, No.
“Behind the scenes solving ODEs of a model of optimal climate policy,” (with Alan Sanstad and Charles Manski), blog post in the Wolfram Community:
https://community.wolfram.com/groups/-/m/t/2255854
https://community.wolfram.com/groups/-/m/t/2255854