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Full-Text Articles in Social and Behavioral Sciences
Land Abundance, Factor Returns, And Nineteenth Century American And British Technology: A Ricardian/Linear Production Model Retrospective, Alexander J. Field
Land Abundance, Factor Returns, And Nineteenth Century American And British Technology: A Ricardian/Linear Production Model Retrospective, Alexander J. Field
Economics
There are three closely related themes in this essay. The first has to do with the characterization of technological differences in the two regions. Contrary to the Rothbarth/Habakkuk tradition , 2 which claims that the distinctive feature of American technology was its "labor saving" quality, this essay argues, in the spirit of Ricardo's remarks, that the most distinctive feature of American in comparison with British technology in the nineteenth century was its capital-saving quality . Some representative examples of this tendency included the American practices of using structures and equipment with shorter service lives, running and depreciating their equipment more …
Optimal Pricing In The Presence Of Experience Effects, Frank H. Clarke, M. N. Darrough, John Heineke
Optimal Pricing In The Presence Of Experience Effects, Frank H. Clarke, M. N. Darrough, John Heineke
Economics
In this paper we analyze the problem of optimal intertemporal pricing for a monopolist when current (and past) output affect future cost and/or demand conditions through "experience" in production and/or in consumption. Learning by doing, the experience curve, contagion, habit formation, bandwagon, and snob effects are all examples of terminologies used to describe such situations. We call these "experience effects" for convenience and explore profit-maximizing pricing behavior when such effects exist