I. Introduction, 466. — II. Capital intensity of the capital goods sector, 467. — III. Capital intensity in a model of two-sector equilibrium, 472. — IV. Multiplicity of commodities and relative prices, 475. — V. Diminishing returns to scale, 481. — Progress of technological knowledge, 482. — Theoretical models and practical choice, 483. — VI. Conclusions, 483.

I. Various criteria and their evaluation, 561; rate-of-turnover criterion, 561; social marginal productivity criterion, 562; reinvestment criterion, 564; an alternative, time series criterion, 568. — II. Application of these criteria to some models, 571; the first model, on the contrast between the criteria; the importance of labor cost, 571; the second model, on the foreign exchange consideration, 577; the third model, on the choice involving time, 582.

This paper undertakes three sets of tasks: (i) it analyzes positive and normative aspects of price scissors (the domestic terms of trade between agriculture and industry) within nonsocialist as well as socialist LDCs. The critical role of the economy's institutional features (e.g., external trade environment, wage and income determination, and wage-productivity effects) is emphasized. Certain aspects of the Soviet Industrialization Debate and subsequent collectivization are interpreted, (ii) It develops simple rules to delineate who gains and who loses (within agriculture) from changes in terms of trade, (iii) It presents powerful (and informationally parsimonious) rules for Pareto-improving price reforms for cash crops and agricultural inputs.

We implement a new survey of firms, focusing on their higher-order macroeconomic expectations. The survey provides a novel set of stylized facts regarding the relationship between first-order and higher-order expectations of economic agents, including how they adjust their beliefs in response to a variety of information treatments. We show how these facts can be used to calibrate key parameters of noisy-information models with infinite regress as well as to test predictions made by this class of models. We also consider a range of extensions to the basic noisy-information model that can potentially better reconcile theory and empirics. Although some extensions like level-k thinking are unsuccessful, incorporating heterogeneous long-run priors can address the empirical shortcomings of the basic noisy-information model.

We conduct a randomized controlled trial to evaluate the effect of an innovative police patrol program on sexual harassment in public spaces in Hyderabad, India. In collaboration with the Hyderabad City Police, we randomize exposure to police patrols and the visibility of officers by deploying both uniformed and undercover officers across 350 hot spots. To assess the effect, we implement a novel, high-frequency observation exercise to measure sexual harassment at these hot spots, where enumerators recorded all observed instances of sexual harassment and women’s responses in real time. We find that although police patrols had no effect on overall street harassment, uniformed police patrols reduced severe forms of harassment (forceful touching, intimidation) by 27% and reduced the likelihood of women leaving the hot spot due to sexual harassment. We uncovered the underlying mechanisms and found that both police visibility and officers’ attitudes toward sexual harassment are key to understanding its incidence.