Law Commons^™

The Dynamics Of Firm Behavior Under Alternative Cost Structures, George A. Hay

Cornell Law Faculty Publications

A large and growing number of studies attempt to determine the important factors affecting firms' decisions with respect to price, output, and inventories. A striking feature of this literature is the embarrassingly large number of alternative models—all allegedly consistent with the principles of profit maximization—which are used to justify various reduced form or behavioral equations to be estimated with the appropriate firm or industry data.

It is rare, however, that the equations to be estimated are derived rigorously from the underlying model. Because of this, the restrictions placed on the equations to be estimated are often limited at worst to …

The Why, Where And How Of Broadened Public Participation In The Administrative Process, Roger C. Cramton

Cornell Law Faculty Publications

The actions of federal administrative agencies – rules, orders, licenses, loans, grants, contracts, and the like – have enormous effects on individuals and groups. Yet affected persons and groups are not always accorded the opportunity to participate in decision making procedures that affect them. Mr. Cramton argues that broadened public participation will improve administrative decisions and give them greater legitimacy and acceptance. After discussing the types of proceedings in which public participation is desirable and the limitations that should be placed upon it, Mr. Cramton evaluates various proposals for assuring the desired degree of public participation.