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Articles 2581 - 2610 of 2930

Full-Text Articles in Social and Behavioral Sciences

A Theory Of Money And Financial Institutions. Part Viii. Transactions Costs In A Market Economy, Martin Shubik Apr 1972

A Theory Of Money And Financial Institutions. Part Viii. Transactions Costs In A Market Economy, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


Political Business Cycle, William D. Nordhaus Apr 1972

Political Business Cycle, William D. Nordhaus

Cowles Foundation Discussion Papers

No abstract provided.


Alternative Theories Of Wage Determination And Unemployment In L.D.C.’S: I. The Labor Turn-Over Model, Joseph E. Stiglitz Apr 1972

Alternative Theories Of Wage Determination And Unemployment In L.D.C.’S: I. The Labor Turn-Over Model, Joseph E. Stiglitz

Cowles Foundation Discussion Papers

No abstract provided.


Benefit-Cost Analysis And Trade Policies, Partha Dasgupta, Joseph E. Stiglitz Apr 1972

Benefit-Cost Analysis And Trade Policies, Partha Dasgupta, Joseph E. Stiglitz

Cowles Foundation Discussion Papers

No abstract provided.


Notes On Transactions Costs And The Analysis Of Microeconomic Theory, Ross M. Starr Mar 1972

Notes On Transactions Costs And The Analysis Of Microeconomic Theory, Ross M. Starr

Cowles Foundation Discussion Papers

No abstract provided.


The Effect Of Inflation On The Distribution Of Economic Welfare, William D. Nordhaus Feb 1972

The Effect Of Inflation On The Distribution Of Economic Welfare, William D. Nordhaus

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions. Part Iv. Fiat Money And Noncooperative Equilibrium In A Closed Economy, Martin Shubik Feb 1972

A Theory Of Money And Financial Institutions. Part Iv. Fiat Money And Noncooperative Equilibrium In A Closed Economy, Martin Shubik

Cowles Foundation Discussion Papers

Fiat money is a type of paper or symbol with which any individual may buy most things by law. It has virtually no intrinsic value but immediately assumes a trading value when its shortage can prevent trades that would have been deemed profitable in a nonmonetary competitive equilibrium system. This paper sketches an approach to a theory of fiat money by investigating the properties of a noncooperative dynamic trading games embedded within a closed economic system. Among the conclusions are that inflation and deflation are not symmetric, and that it is not possible to define a noncooperative game involving borrowing …


A Theory Of Money And Financial Institutions. Part Vii. Money, Trust And Equilibrium Points In Games In Extensive Form, Martin Shubik Feb 1972

A Theory Of Money And Financial Institutions. Part Vii. Money, Trust And Equilibrium Points In Games In Extensive Form, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


The Marginal Revolution After One Hundred Years, Ronald G. Bodkin Jan 1972

The Marginal Revolution After One Hundred Years, Ronald G. Bodkin

Cowles Foundation Discussion Papers

No abstract provided.


A General Equilibrium Calculation Of The Effects Of Differential Taxation Of Income From Capital In The U.S., John B. Shoven, John Whalley Jan 1972

A General Equilibrium Calculation Of The Effects Of Differential Taxation Of Income From Capital In The U.S., John B. Shoven, John Whalley

Cowles Foundation Discussion Papers

No abstract provided.


The Cores Of Large Standard Exchange Economies, Donald J. Brown, Abraham Robinson Jan 1972

The Cores Of Large Standard Exchange Economies, Donald J. Brown, Abraham Robinson

Cowles Foundation Discussion Papers

No abstract provided.


A Comparison Of Alternative Estimators For A Dynamic Relationship Estimated From A Time Series Of Cross-Sections When The Disturbances Are Small, Jon K. Peck Jan 1972

A Comparison Of Alternative Estimators For A Dynamic Relationship Estimated From A Time Series Of Cross-Sections When The Disturbances Are Small, Jon K. Peck

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions. Part Iii. The Missing Degree Of Freedom: Commodity Money And Oligopoly In A General Equilibrium Model, Martin Shubik Dec 1971

A Theory Of Money And Financial Institutions. Part Iii. The Missing Degree Of Freedom: Commodity Money And Oligopoly In A General Equilibrium Model, Martin Shubik

Cowles Foundation Discussion Papers

It is suggested that an extra degree of freedom is needed to construct a symmetric noncooperative price game in a market with n monopolists trading in n goods. This calls for the introduction of an n+1 good which can be interpreted as a commodity money. Where there are n monopolists using a commodity money in common a symmetric price or quantity noncooperative game can be constructed. The quantity game is examined. Necessary conditions are shown for the replicated game to have its noncooperative equilibria approach the competitive equilibria of the replicated market. It is demonstrated that unless there is “enough” …


A New Measure Of Income From Wealth, Donald A. Nichols Nov 1971

A New Measure Of Income From Wealth, Donald A. Nichols

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions: Part Ii. On The Paradox Of The Efficient Price System In A Completely Centralized Economy And In A Capitalist Individual Ownership Economy, Martin Shubik Nov 1971

A Theory Of Money And Financial Institutions: Part Ii. On The Paradox Of The Efficient Price System In A Completely Centralized Economy And In A Capitalist Individual Ownership Economy, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


Alternative Management Of Common Property Resources Under Free Access And Private Ownership, Martin L. Weitzman Nov 1971

Alternative Management Of Common Property Resources Under Free Access And Private Ownership, Martin L. Weitzman

Cowles Foundation Discussion Papers

No abstract provided.


Is Growth Obsolete?, William D. Nordhaus, James Tobin Oct 1971

Is Growth Obsolete?, William D. Nordhaus, James Tobin

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions. Part I. The General Approach Adopted, Martin Shubik Oct 1971

A Theory Of Money And Financial Institutions. Part I. The General Approach Adopted, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


Summary Comment, James Tobin Sep 1971

Summary Comment, James Tobin

Cowles Foundation Discussion Papers

No abstract provided.


Duality Theory Of Convex Programming For Infinite Horizon Economic Models, Martin L. Weitzman Sep 1971

Duality Theory Of Convex Programming For Infinite Horizon Economic Models, Martin L. Weitzman

Cowles Foundation Discussion Papers

The present state of convex programming theory for infinite horizon free endpoint economic models is not entirely satisfactory. Roughly speaking, classical duality principles can be shown to apply tof inite subsections of an optimal trajectory and this avoids classical inefficiencies of the finite horizon variety. But it has never been completely clear how to avoid the kind of non-optimality which results from piling up too much “left over” capital in the limit. While certain rule of thumb “transversality conditions” have been proposed by analogy with finite horizon models, they have not in general been put on a rigorous footing and …


Competitive Equilibrium And Game Theory Solutions: Part I. The Core And Value, Lloyd S. Shapley, Martin Shubik Sep 1971

Competitive Equilibrium And Game Theory Solutions: Part I. The Core And Value, Lloyd S. Shapley, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


On The Scope Of Gaming, Martin Shubik Sep 1971

On The Scope Of Gaming, Martin Shubik

Cowles Foundation Discussion Papers

Gaming and simulation mean different things to different people. Currently there exist separate schools of individuals working on interrelated but basically different areas. Each have their own special goals and terminology. Yet there is a sufficient overlap among them that it is important to clarify the common and different interests and terminology. The general topic of gaming is ripe for an examination to see to what extent there exists a basic methodology and theory of gaming. This paper addresses itself, in part to this problem. Different types of games and different purposes are discussed. It is stressed that there is …


On The Definition And Computation Of A Capital Stock Invariant Under Optimization, Terje Hansen, Tjalling C. Koopmans Jul 1971

On The Definition And Computation Of A Capital Stock Invariant Under Optimization, Terje Hansen, Tjalling C. Koopmans

Cowles Foundation Discussion Papers

No abstract provided.


Systems Of Indirect Management In A Planned Economy: Effectiveness Models And Their Applications In Poland, Witold Trzeciakowski Jul 1971

Systems Of Indirect Management In A Planned Economy: Effectiveness Models And Their Applications In Poland, Witold Trzeciakowski

Cowles Foundation Discussion Papers

No abstract provided.


The Price Of Money In A Pure Exchange Monetary Economy, Ross M. Starr Jun 1971

The Price Of Money In A Pure Exchange Monetary Economy, Ross M. Starr

Cowles Foundation Discussion Papers

No abstract provided.


Wealth, Liquidity, And Consumption, Walter Dolde, James Tobin Jun 1971

Wealth, Liquidity, And Consumption, Walter Dolde, James Tobin

Cowles Foundation Discussion Papers

No abstract provided.


Friedman's Theoretical Framework, James Tobin Jun 1971

Friedman's Theoretical Framework, James Tobin

Cowles Foundation Discussion Papers

No abstract provided.


Nonstandard Exchange Economies, Donald J. Brown, Abraham Robinson May 1971

Nonstandard Exchange Economies, Donald J. Brown, Abraham Robinson

Cowles Foundation Discussion Papers

No abstract provided.


An Estimate Of Racial Discrimination In Rental Housing, Thomas King, Peter M. Mieszkowski Feb 1971

An Estimate Of Racial Discrimination In Rental Housing, Thomas King, Peter M. Mieszkowski

Cowles Foundation Discussion Papers

No abstract provided.


On Transitions Between Steady States, Joseph E. Stiglitz Jan 1971

On Transitions Between Steady States, Joseph E. Stiglitz

Cowles Foundation Discussion Papers

No abstract provided.