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Inelastic Supply: An Economic Approach To Simple Interval Schedule, James Dougan

Scholarship

Economic theory predicts an inverse relationship between the quantity of a commodity supplied to the marketplace and the equilibrium market price of that commodity. This prediction was tested in three experiments. Pigeons responded on simple variable-interval schedules, and quantity of reinforcement supplied was varied in a different way in each experiment. In Experiment 1, quantity supplied was varied by manipulating reinforcement rate while keeping session length constant. In Experiment 2, quantity supplied was varied by manipulating reinforcement rate while keeping reinforcers per session constant. In Experiment 3, quantity supplied was varied by manipulating reinforcer magnitude while keeping number of reinforcers …