Publications & Papers by Robert M. Townsend

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International Economic Review

General Competitive Analysis in an Economy with Private Information

International Economic Review 25(1): 1-20
Edward C. Prescott, Robert M. Townsend
February 1984
Econometrica

Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard

Econometrica 52(1): 21-45
Edward C. Prescott, Robert M. Townsend
January 1984
American Economic Review

Financial Structure and Economic Activity

American Economic Review 73(5): 895-911
Robert M. Townsend
December 1983
Journal of Political Economy

Forecasting the Forecasts of Others

Journal of Political Economy 91(4): 546-587
Robert M. Townsend
August 1983

Equilibrium Theory with Disparate Expectations and Learning: Some Issues and Methods

Chapter in: Individual Forecasting and Aggregate Outcomes: 'Rational Expectations' Examined, Edmund S. Phelps and Roman Frydman, eds., Cambridge University Press
Robert M. Townsend
January 1983

Theories of Intermediated Structures

In the Carnegie-Rochester Conference Series on Public Policy 18, Money, Monetary Policy and Financial Institutions, a supplemental series to the Journal of Monetary Economics
Robert M. Townsend
January 1983
Journal of Political Economy

Optimal Multiperiod Contracts and the Gain from Enduring Relationships under Private Information

Journal of Political Economy 90(6): 1166-1186
Robert M. Townsend
December 1982

Theories of Contract Design and Market Organization: Conceptual Bases for Understanding Futures Markets

Prepared for the Conference on the Industrial Organization of Futures Markets: Structure and Conduct, Columbia University, Lexington Books
Robert M. Townsend
November 1982
Econometrica

Resource Allocation under Asymmetric Information

Econometrica 49(1): 33-69
Robert M. Townsend
June 1981

Equilibrium Under Uncertainty: Multi-Agent Statistical Decision Theory

Chapter in: Studies in Bayesian Econometrics and Statistics in Honor of Harold Jeffreys, Arnold Zellner, ed., North-Holland: 169-194
Robert M. Townsend, Edward C. Prescott
January 1980

Models of Money with Spatially Separated Agents

Chapter in: Models of Monetary Economies, John Kareken and Neil Wallace, eds., Federal Reserve Bank of Minneapolis: 265-303
Robert M. Townsend
January 1980
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Optimal Contracts and Competitive Markets with Costly State Verification

Journal of Economic Theory 21(2): 265-293
Robert M. Townsend
October 1979
Review of Economic Studies

Intermediation with Costly Bilateral Exchange

Review of Economic Studies XLV (3): 417-425
Robert M. Townsend
October 1978
International Economic Review 19(2): 481-494

Market Anticipations, Rational Expectations, and Bayesian Analysis

Robert M. Townsend
June 1978
American Economic Review

On the Optimality of Forward Markets

American Economic Review 68(1): 54-56
Robert M. Townsend
March 1978
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The Eventual Failure of Price Fixing Schemes

Journal of Economic Theory 14(3): 190-199
Robert M. Townsend
February 1977

Allocation Mechanisms, Asymmetric Information, and the Revelation Principle

Chapter in: Issues in Contemporary Microeconomics and Welfare, George R. Feiwel ed., SUNY Press
Milton Harris, Robert M. Townsend
January 1975

Creating a Cell Phone-Based Defined Contribution Account