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Social and Behavioral Sciences Commons™
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Articles 1 - 21 of 21
Full-Text Articles in Social and Behavioral Sciences
Inventory Accounting And Profit Evaluation, Riccardo Fiorito
Inventory Accounting And Profit Evaluation, Riccardo Fiorito
riccardo fiorito
In an inventory model with exogenous sales, FIFO and LIFO criteria are formalized and compared with national account estimates for intermediate and finished good products. The model is simulated using manufacturing input and output prices for Italy (1970-88). LIFO and NIPA estimates of inventory are usually close and also imply reliable measures of output levels and changes which can be shown by solving the quantity model. Conversely, FIFO exhibits larger profits and leads in real terms to unsatisfactory estimates of output changes.
The Role Of Federal Taxation In The Supply Of Municipal Bonds: Evidence From Municipal Governments, Gilbert E. Metcalf
The Role Of Federal Taxation In The Supply Of Municipal Bonds: Evidence From Municipal Governments, Gilbert E. Metcalf
Gilbert E. Metcalf
This paper considers ways in which federal tax policy affects municipal asset and debt holdings. The tax treatment of municipal bonds and income creates an arbitrage opportunity for communities to issue tax-exempt debt and invest in financial assets. The author presents evidence that suggests the rules in effect prior to 1986 to prevent this activity were not effective. He then develops and estimates a model of municipal bond supply. The author finds a semielasticity of 1.23 of long-term debt with respect to the spread between the after-tax rate of return and the municipal borrowing rate.
Naked Exclusion, Eric Bennett Rasmusen, J. Mark Ramseyer, John Wiley
Naked Exclusion, Eric Bennett Rasmusen, J. Mark Ramseyer, John Wiley
Eric Bennett Rasmusen
Ordinarily, a monopoly cannot increase its profits by asking customers to sign agreements not to deal with potential competitors. If, however, there are 100 customers and the minimum efficient scale requires serving 15, the monopoly need only lock up 86 customers to forestall entry. If each customer believes that the others will sign, each also believes that no rival seller will enter. Hence, an individual customer loses nothing by signing the exclusionary agreement and will indeed sign. Thus, naked exclusion can be profitable.
The New Soviet - East European Economic Relationship: Post Cmea, Joseph Pelzman
The New Soviet - East European Economic Relationship: Post Cmea, Joseph Pelzman
Joseph Pelzman
No abstract provided.
Demand Induced Price Changes--Substitutes And Complements: A Cautionary Comment, Robert Sexton
Demand Induced Price Changes--Substitutes And Complements: A Cautionary Comment, Robert Sexton
Robert L Sexton
No abstract provided.
Economic Theories Of Legal Liability, Robert D. Cooter
Economic Theories Of Legal Liability, Robert D. Cooter
Robert Cooter
No abstract provided.
The Irrelevance Of Detail In A Computable General Equilibrium Model, Tyler Fox, Don Fullerton
The Irrelevance Of Detail In A Computable General Equilibrium Model, Tyler Fox, Don Fullerton
Don Fullerton
No abstract provided.
Американский Брок: "Никто Не Может Объяснить, Что Такое Социализм?", Gregory J. Brock
Американский Брок: "Никто Не Может Объяснить, Что Такое Социализм?", Gregory J. Brock
Gregory J. Brock
No abstract provided.
Extending The Economic Theory Of Regulation: The Form Of Policy, Eric Bennett Rasmusen, Mark Zupan
Extending The Economic Theory Of Regulation: The Form Of Policy, Eric Bennett Rasmusen, Mark Zupan
Eric Bennett Rasmusen
The mutually beneficial connection between industries and the governments that regulate them is the subject of a large literature led by Stigler (1971). What has not been studied is how firms choose their desired policies from the set including entry barriers, price floors, subsidies, and demand stimulation. We take as given that government and incumbents form the supply and demand for regulation and explore the choice of political product.
Reconciling Recent Estimates Of The Marginal Welfare Cost Of Taxation, Don Fullerton
Reconciling Recent Estimates Of The Marginal Welfare Cost Of Taxation, Don Fullerton
Don Fullerton
No abstract provided.
Recent Developments In The Economics Of Exclusionary Contracts, Eric Bennett Rasmusen
Recent Developments In The Economics Of Exclusionary Contracts, Eric Bennett Rasmusen
Eric Bennett Rasmusen
A short survey of ideas on exclusive-dealing contracts.
Dynamic Bargaining With Transaction Costs, Peter Cramton
Dynamic Bargaining With Transaction Costs, Peter Cramton
Peter Cramton
A buyer and seller alternate making offers until an offer is accepted or someone terminates negotiations. The seller's valuation is common knowledge, but the buyer's valuation is known only by the buyer. Impatience to reach an agreement comes from two sources: the traders discount future payoffs and there are transaction costs of bargaining. Equilibrium behavior involves either immediate trade, delayed trade, or immediate termination, depending on the size of the gains from trade and the relative bargaining costs. This contrasts with the pure discounting model where termination never occurs, and the pure transaction cost model where delayed trade never occurs.
Shrewd Bargaining On The Moral Frontier: Toward A Theory Of Morality In Practice, Peter Cramton, J Gregory Dees
Shrewd Bargaining On The Moral Frontier: Toward A Theory Of Morality In Practice, Peter Cramton, J Gregory Dees
Peter Cramton
From a traditional moral point of view, business practitioners often seem overly concerned about the behavior of their peers in deciding how they ought to act. We propose to account for this concern by introducing a mutual trust perspective, where moral obligations are grounded in a sense of trust that others will abide by the same rules. When grounds for trust are absent, the obligation is weakened. We illustrate this perspective by examining the widespread ambivalence with regard to deception about one’s settlement preferences in negotiation. On an abstract level, such deception generally seems undesirable, though in many individual cases …
Characterization Of Sh Groups In Porin Of Bovine Heart Mitochondria. Porin Cysteines Are Localized In The Channel Walls., Philadelphia University
Characterization Of Sh Groups In Porin Of Bovine Heart Mitochondria. Porin Cysteines Are Localized In The Channel Walls., Philadelphia University
Philadelphia University, Jordan
No abstract provided.
Multimarket Amenity Compensation And The Behavior Of The Elderly, Philip E. Graves, Donald M. Waldman
Multimarket Amenity Compensation And The Behavior Of The Elderly, Philip E. Graves, Donald M. Waldman
PHILIP E GRAVES
There is no abstract for this work.
Problems In The Communications Branch, Gregory J. Brock
Problems In The Communications Branch, Gregory J. Brock
Gregory J. Brock
No abstract provided.
"The Nation As An Economic Unit:" Keynes, Roosevelt, And The Managerial Ideal, Richard Adelstein
"The Nation As An Economic Unit:" Keynes, Roosevelt, And The Managerial Ideal, Richard Adelstein
Richard Adelstein
The First New Deal as central economic planning, and the lost opportunity to reconstruct the federal government toward peaceful Keynesianism.
Racial Differences In Adult Labor Force Transition Trends, Michael C. Seeborg, Mark Israel
Racial Differences In Adult Labor Force Transition Trends, Michael C. Seeborg, Mark Israel
Michael Seeborg
No abstract provided.
Deciding For Bigness, Richard Adelstein
Deciding For Bigness, Richard Adelstein
Richard Adelstein
Antitrust as a constitutional constraint on the growth of firms.
Using Auction Theory To Inform Takeover Regulation, Peter Cramton, Alan Schwartz
Using Auction Theory To Inform Takeover Regulation, Peter Cramton, Alan Schwartz
Peter Cramton
This paper focuses on certain mechanisms that govern the sale of corporate assets. Under Delaware law, when a potential acquirer makes a serious bid for a target, the target’s Board of Directors is required to act as would "auctioneers charged with getting the best price for the stock-holders at a sale of the company.’’ The Delaware courts’ preference for auctions follows from two premises. First, a firm’s managers should maximize the value of their shareholders’ investment in the company. Second, auctions maximize shareholder returns. The two premises together imply that a target’s board should conduct an auction when at least …
Efficient Spatial Allocation Of Irrigation Water, Ujjayant N. Chakravorty, James Roumasset
Efficient Spatial Allocation Of Irrigation Water, Ujjayant N. Chakravorty, James Roumasset
Ujjayant Chakravorty
In the presence of conveyance losses, the efficient quantity of water applied falls with distance from the water source, but the amount of water "sent" (including conveyance losses) actually increases with distance from the source, except toward the tail end of the irrigation system. This implies that if marginal cost pricing were implemented, farmers at the middle and lower reaches of the system would have to pay more money for less water received. The model is illustrated and alternative financing schemes compared for an empirically derived demand function for irrigation water.