ALBERTO ABADIE Harvard Kennedy School, USAJOSHUA D. ANGRIST Massachusetts Institute of Technology, USABADI H. BALTAGI University of Arizona, USAMOSHE BUCHINSKY University of California Los Angeles, USACOLIN A. CAMERON University of California Davis, USATIMOTHY G. CONLEY University of Chicago, USAJOHN DINARDO University of Michigan, USAJEFF DOMINITZ Carnegie Mellon University, USADAVID DRAPER University of California Santa Cruz, USAJEAN-MARIE DUFOUR McGill University, USAANDREW GELMAN Columbia University, USAJINYONG HAHN University of California Los Angeles, USAVASSILIS A. HAJIVASILIOU London School of Economics, UKJERRY A. HAUSMAN Massachusetts Institute of Technology, USAJAMES J. HECKMAN The University of Chicago, USAKEISUKE HIRANO University of Arizona, USACHENG HSIAO University of Southern California, USAGUIDO W. IMBENS University of California Berkeley, USAYANNIS IOANNIDES Tufts University, USAEKATERINI KYRIAZIDOU University of California Los Angeles, USAEDWARD E. LEAMER University of California Los Angeles, USABRUCE G. LINDSAY Penn State University, USAOLIVER B. LINTON London School of Economics, UKJOHN A. LIST University of Chicago, USATHIERRY MAGNAC University of Toulouse 1, FranceCHARLES F. MANSKI Northwestern University, USAROSA L. MATZKIN University of California Los Angeles, USASALVADOR NAVARRO University of Madison Wisconsin, USAJAMES L. POWELL University of California Berkeley, USADAVID REILEY University of Arizona, USAERIC RENAULT University of North Carolina Chapel Hill, USAJEAN-MARC ROBIN University of Paris 1, FranceDONALD B. RUBIN Harvard University, USAROBERT P. SHERMAN California Institute of Technology, USAMICHAEL STEWART University of Sydney, AustraliaCHRISTOPHER TABER The University of Wisconsin Madison, USAELIE TAMER Northwestern University, USAPETRA E. TODD University of Pennsylvania, USAGERARD J. VAN DEN BERG University of Amsterdam, The NetherlandsWILBERT VAN DER KLAAUW Federal Reserve Bank of New York, USAARTHUR VAN SOEST Tilburg University, The NetherlandsTIEMEN M. WOUTERSEN Johns Hopkins University, USA

Praise for the 8-volume edition: Winner of the 2008 PROSE Award: Best Mutlivolume Reference Work in the Humanitiesand Social Sciences (from the Professional and Scholarly Division of the Association of American Publishers) CHOICE Outstanding Academic Title 2008 "Much has changed in the latest incarnation of this dictionary. ...More than 1,500 economists contributed almost 1,900 signed entries; more than 1,000 of the entries are new or 'heavily revised' and expanded. Along with the descriptions of economic method from earlier editions, this edition includes much information on 'what those methods have found.' It also offers new emphasis on advances that have occurred in microeconomics, Bayesian theory, game theory, and behavioral, international, and experimental economics. ...A regularly updated online version of the dictionary is available www.dictionaryofeconomics.com, with site license pricing based on institution type and FTE. Summing Up: Highly recommended." - CHOICE

• Contents General Preface Introduction List of Contributors List of Entries Entries A-Z Index

ALBERTO ABADIE Harvard Kennedy School, USAJOSHUA D. ANGRIST Massachusetts Institute of Technology, USABADI H. BALTAGI University of Arizona, USAMOSHE BUCHINSKY University of California Los Angeles, USACOLIN A. CAMERON University of California Davis, USATIMOTHY G. CONLEY University of Chicago, USAJOHN DINARDO University of Michigan, USAJEFF DOMINITZ Carnegie Mellon University, USADAVID DRAPER University of California Santa Cruz, USAJEAN-MARIE DUFOUR McGill University, USAANDREW GELMAN Columbia University, USAJINYONG HAHN University of California Los Angeles, USAVASSILIS A. HAJIVASILIOU London School of Economics, UKJERRY A. HAUSMAN Massachusetts Institute of Technology, USAJAMES J. HECKMAN The University of Chicago, USAKEISUKE HIRANO University of Arizona, USACHENG HSIAO University of Southern California, USAGUIDO W. IMBENS University of California Berkeley, USAYANNIS IOANNIDES Tufts University, USAEKATERINI KYRIAZIDOU University of California Los Angeles, USAEDWARD E. LEAMER University of California Los Angeles, USABRUCE G. LINDSAY Penn State University, USAOLIVER B. LINTON London School of Economics, UKJOHN A. LIST University of Chicago, USATHIERRY MAGNAC University of Toulouse 1, FranceCHARLES F. MANSKI Northwestern University, USAROSA L. MATZKIN University of California Los Angeles, USASALVADOR NAVARRO University of Madison Wisconsin, USAJAMES L. POWELL University of California Berkeley, USADAVID REILEY University of Arizona, USAERIC RENAULT University of North Carolina Chapel Hill, USAJEAN-MARC ROBIN University of Paris 1, FranceDONALD B. RUBIN Harvard University, USAROBERT P. SHERMAN California Institute of Technology, USAMICHAEL STEWART University of Sydney, AustraliaCHRISTOPHER TABER The University of Wisconsin Madison, USAELIE TAMER Northwestern University, USAPETRA E. TODD University of Pennsylvania, USAGERARD J. VAN DEN BERG University of Amsterdam, The NetherlandsWILBERT VAN DER KLAAUW Federal Reserve Bank of New York, USAARTHUR VAN SOEST Tilburg University, The NetherlandsTIEMEN M. WOUTERSEN Johns Hopkins University, USA

Praise for the 8-volume edition: Winner of the 2008 PROSE Award: Best Mutlivolume Reference Work in the Humanitiesand Social Sciences (from the Professional and Scholarly Division of the Association of American Publishers) CHOICE Outstanding Academic Title 2008 "Much has changed in the latest incarnation of this dictionary. ...More than 1,500 economists contributed almost 1,900 signed entries; more than 1,000 of the entries are new or 'heavily revised' and expanded. Along with the descriptions of economic method from earlier editions, this edition includes much information on 'what those methods have found.' It also offers new emphasis on advances that have occurred in microeconomics, Bayesian theory, game theory, and behavioral, international, and experimental economics. ...A regularly updated online version of the dictionary is available www.dictionaryofeconomics.com, with site license pricing based on institution type and FTE. Summing Up: Highly recommended." - CHOICE

• Contents General Preface Introduction List of Contributors List of Entries Entries A-Z Index

ALBERTO ABADIE Harvard Kennedy School, USAJOSHUA D. ANGRIST Massachusetts Institute of Technology, USABADI H. BALTAGI University of Arizona, USAMOSHE BUCHINSKY University of California Los Angeles, USACOLIN A. CAMERON University of California Davis, USATIMOTHY G. CONLEY University of Chicago, USAJOHN DINARDO University of Michigan, USAJEFF DOMINITZ Carnegie Mellon University, USADAVID DRAPER University of California Santa Cruz, USAJEAN-MARIE DUFOUR McGill University, USAANDREW GELMAN Columbia University, USAJINYONG HAHN University of California Los Angeles, USAVASSILIS A. HAJIVASILIOU London School of Economics, UKJERRY A. HAUSMAN Massachusetts Institute of Technology, USAJAMES J. HECKMAN The University of Chicago, USAKEISUKE HIRANO University of Arizona, USACHENG HSIAO University of Southern California, USAGUIDO W. IMBENS University of California Berkeley, USAYANNIS IOANNIDES Tufts University, USAEKATERINI KYRIAZIDOU University of California Los Angeles, USAEDWARD E. LEAMER University of California Los Angeles, USABRUCE G. LINDSAY Penn State University, USAOLIVER B. LINTON London School of Economics, UKJOHN A. LIST University of Chicago, USATHIERRY MAGNAC University of Toulouse 1, FranceCHARLES F. MANSKI Northwestern University, USAROSA L. MATZKIN University of California Los Angeles, USASALVADOR NAVARRO University of Madison Wisconsin, USAJAMES L. POWELL University of California Berkeley, USADAVID REILEY University of Arizona, USAERIC RENAULT University of North Carolina Chapel Hill, USAJEAN-MARC ROBIN University of Paris 1, FranceDONALD B. RUBIN Harvard University, USAROBERT P. SHERMAN California Institute of Technology, USAMICHAEL STEWART University of Sydney, AustraliaCHRISTOPHER TABER The University of Wisconsin Madison, USAELIE TAMER Northwestern University, USAPETRA E. TODD University of Pennsylvania, USAGERARD J. VAN DEN BERG University of Amsterdam, The NetherlandsWILBERT VAN DER KLAAUW Federal Reserve Bank of New York, USAARTHUR VAN SOEST Tilburg University, The NetherlandsTIEMEN M. WOUTERSEN Johns Hopkins University, USA

Praise for the 8-volume edition: Winner of the 2008 PROSE Award: Best Mutlivolume Reference Work in the Humanitiesand Social Sciences (from the Professional and Scholarly Division of the Association of American Publishers) CHOICE Outstanding Academic Title 2008 "Much has changed in the latest incarnation of this dictionary. ...More than 1,500 economists contributed almost 1,900 signed entries; more than 1,000 of the entries are new or 'heavily revised' and expanded. Along with the descriptions of economic method from earlier editions, this edition includes much information on 'what those methods have found.' It also offers new emphasis on advances that have occurred in microeconomics, Bayesian theory, game theory, and behavioral, international, and experimental economics. ...A regularly updated online version of the dictionary is available www.dictionaryofeconomics.com, with site license pricing based on institution type and FTE. Summing Up: Highly recommended." - CHOICE

• Contents General Preface Introduction List of Contributors List of Entries Entries A-Z Index