IN THE GROWTH model of Kemeny-Morgenstern-Thompson [2, pp. 115-135], the production space is a closed convex and polyhedral cone in R2, with some further properties. In the growth model of Gale [1, pp. 285-303], the production space has to fulfil the same assumptions except that the cone need not be polyhedral. Therefore the model of Gale can be regarded as a generalization of the KMT-model. In this paper it will be shown that in contradiction to a central theorem of Gale, the existence of an optimal price vector cannot be guaranteed in this generalized production space. To describe the difficulty in the growth model of Gale, we enumerate the properties of the production space and the basic definitions given by him. The technological possibilities of production are described by the production space

Wallace and Hussain (1969) considered the use of an error components regression model in the analysis of time series of cross-sections and developed an estimator of the coefficient vector based on an estimated variance-covariance matrix of error terms. In this paper, we have shown that under the set of assumptions adopted by Wallace and Hussain there are an infinite number of estimators which have the same asymptotic variancecovariance matrix as the Wallace-Hussain estimator and also that it is not possible to choose an estimator on the basis of asymptotic efficiency. We have developed an alternative estimator of the variance-covariance matrix of error terms and have used this estimator in developing a feasible Aitken type estimator for the coefficient vector. We have derived some small sample properties of this estimator and have compared them with those of other estimators of the coefficient vector.

This paper attempts an international comparison of production structures, using the input-output framework. An earlier study in this field has shown that the production structures of advanced countries such as Italy, Japan, Norway, and the United States are similar, in spite of the wide differences in their levels of per capita income. This paper extends the analysis to a comparison of the production structure of India, a developing country with a very low per capita income, with those of the above developed countries. The result shows that in spite of the differences in the levels of development and per capita incomes, the similarity is preserved. THE PURPOSE of this study is to find out whether the structure of production of India is in any way comparable to those of Italy, Japan, Norway, and the United States. Looking at the present stage of India's development, low per capita income, and the overwhelming importance of the agricultural sector, the general impression would be that the production structure of India is unlikely to be in any way similar to the production structures of industrially developed countries. It might, therefore, be suggested that any attempt to compare the structure of production in India with that of a relatively more developed country like the United States or Italy would yield poor results. The results of a pioneering study by Chenery and Watanabe [1], however, indicated that there could be similarities in production and use of intermediate products among such countries as Italy (1950), Japan (1951), Norway (1950), and the United States (1947), though there were wide differences among these countries with respect to their resource endowments, per capita income, and the level of dependence on foreign trade. In a recent study [3] Simpson and Tsukui, while pointing out similarities in the structure of production of Japan and the United States, reported what appeared to them to be an important empirical regularity, the existence of a fundamental structure of production. The present study provides some further evidence that irrespective of differences in resource endowments and the level of economic development similarities in the production structures of different countries appear to exist. It would be of some interest to note here briefly the basic forces that tend to create similarities or dissimilarities in the national structure of production before

Economic Models, Estimation and Risk Programming: Essays in Honor of Gerhard Tintner. Lecture Notes in Operations Research and Mathematical Economics 15 by K. A. Fox; J. K. Sengupta; G. V. L. Narasimham