Economic Theory Commons^™

L S Penrose's Limit Theorem: Tests By Simulation, Pao-Li Chang, Vincent Chua, Moshe Machover

Research Collection School Of Economics

LS Penrose’s limit theorem (PLT) – which is implicit in Penrose [5, p. 72] and for which he gave no rigorous proof – says that, in simple weighted voting games, if the number of voters increases indefinitely while existing voters retain their weights and the relative quota is pegged, then – under certain conditions – the ratio between the voting powers of any two voters converges to the ratio between their weights. Lindner and Machover [3] prove some special cases of PLT; and conjecture that the theorem holds, under rather general conditions, for large classes of weighted voting games, various …

Portals To Knowledge: Confluence And Conflict Between Enlightenment And Postmodern Currencies, Benjamin G. Lanier-Nabors

Reconstruction: Studies in Contemporary Culture

[Editors' Introduction]

In order to provide any viable critique of twenty-first-century discourses -- whether signified by late capitalism, epistemological hegemony, cultural domination, or globalization (the catch-word for all of these) -- one must not employ an ahistorical or static lens; alternatively, one must dredge up and analyze the sediments that underlie current discourses, and many of these sediments are found in the eighteenth century. More specifically, by reading the thoughts of such writers as Joseph Addison and Jonathan Swift, one is forced to read the links and antipathies between the discursive economies of epistemology -- philosophical, scientific, and economic -- …

Future Fiscal And Budgetary Shocks, Hian Teck Hoon, Edmund S. Phelps

Research Collection School Of Economics

We study here the effects of future tax and budgetary shocks on present levels of economic activity and real interest rates in a nonmonetary and possibly non-Ricardian economy. The paper first takes up an (unanticipated) temporary tax cut to be effective on a given future date—a delayed debt bomb. The sudden prospect of this future-dated shock causes at once a drop in the (unit) value placed on the firms’ business asset, the customer, and accordingly on the price of shares—with the result that the hourly wage, hours worked and GDP drop in tandem. This paradox of reduced activity through announcement …

On Patent Licensing In Spatial Competition, Sougata Poddar, Uday Bhanu Sinha

Economics Faculty Articles and Research

We consider the issue of patent licensing in a linear city framework where firms are located at the end points of the city and compete in price. We consider three types of licensing arrangements, namely, auction, fixed fee, royalty; and focus on the optimal licensing strategy of an outsider patentee as well as an insider patentee. Contrary to the findings in the existing literature, first we show offering royalty is the best for the patentee when the patentee is an outsider for both drastic and non-drastic innovation. For insider patentee, offering no-license is the best when the innovation is drastic, …

Full Cost Pricing: An Approach To Internalize The Full-Cost Of A Gallon Of Unleaded Gasoline In The U.S And The Feasibility Of Markets Sustaining This Result, Joseph Mack

Honors Capstones

Capstone submitted as a graduation requirement for the BSU Honors Program.

Three Essays On Real Estate Investment Trusts, Yan Lin

Theses and Dissertations in Business Administration

This dissertation includes three essays that study on Real Estate Investment Trusts (REITs). The first essay examines the shape of market demand curve by employing REIT equity fund flows as a proxy for REIT aggregate demand. An empirical framework is introduced to disentangle the price-pressure effect and the information effect. We do not find evidence for the price-pressure effect, which states that REIT equity fund flows directly affect REIT market prices. Instead, we find that the performance of REIT market prices does influence REIT equity fund flows. The results indicate that investors adjust their demand for REITs by investigating and …

Insights From Economics, Jennifer Gerarda Brown

Journal of Legal Education

No abstract provided.

Bargaining And Competition Revisited, Takashi Kunimoto, Roberto Serrano

Research Collection School Of Economics

We show the robustness of the Walrasian result obtained in models of bargaining in pairwise meetings. Restricting trade to take place only in pairs, most of the assumptions made in the literature are dispensed with. These include assumptions on preferences (differentiability, monotonicity, strict concavity, bounded curvature), on the set of agents (dispersed characteristics) or on the consumption set (allowing only divisible goods).

Local Coordination And Market Equilibria, Shurojit Chatterji, Sayantan Ghosal

Research Collection School Of Economics

We reformulate the local stability analysis of market equilibria in a competitive market as a local coordination problem in a market game, where the map associating market prices to best-responses of all traders is common knowledge and well-defined both in and out of equilibrium. Initial expectations over market variables differ from their equilibrium values and are not common knowledge. This results in a coordination problem as traders use the structure of the market game to converge back to equilibrium. We analyse a simultaneous move and a sequential move version of the market game and explore the link with local rationalizability.

The Distribution Of Money And Prices In An Equilibrium With Lotteries, Aleksander Berentsen, Gabriele Camera, Christopher Waller

Economics Faculty Articles and Research

We construct a tractable ‘fundamental’ model of money with equilibrium heterogeneity in money balances and prices. We do so by considering randomized monetary trades in a standard search-theoretic model of money where agents can hold multiple units of indivisible ‘tokens’ and can offer lotteries on monetary transfers. By studying a simple trading pattern, we can analytically characterize the monetary distribution. Interestingly, such distributions match those observed in numerically simulated economies with fully divisible money and price heterogeneity.

Notes On Sraffa Money Paper, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Cozzi, T., & Marchionatti, R. (Eds.). (2001). Piero Sraffa’s political economy: A centenary estimate. Routledge.
• Shaikh, A. (2004). On Sraffa's comment that i -> r, with i determined by the Bank or the Stock Exchange (Unpublished handwritten notes).

Circuit Theory + Paradox Of Profit, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2004, March 17). Reproduction in Marx and circuitist tradition [Handwritten notes addressed to Gennaro Zezza]. Unpublished manuscript.

• Shaikh, A. (2004, March 17). More on circuitists and bank credit [Letter to Gennaro Zezza, including embedded email from Zezza]. Unpublished manuscript.

• Shaikh, A. (2004, March 12). Comments on circuitist models [Comments addressed to Gennaro Zezza]. Unpublished manuscript.

• Zezza, G. (n.d.). Some simple, consistent models of the monetary circuit [Unpublished paper]. Unpublished manuscript.

Sraffa, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A. (1992, April 22). Sraffa [Unpublished handwritten notes].

• Shaikh, A. (2004, October 20). Shape of distribution of (K/L)s [Unpublished handwritten notes].

• Shaikh, A. (n.d.). Price–value deviations [Unpublished handwritten notes].

• Shaikh, A. (2004, December 9). Price–value deviations [Unpublished handwritten notes].

• Shaikh, A. (2003, April 23). Mathematical equations [Unpublished handwritten notes].

• Shaikh, A. (2009, March 5). Profits and surplus 2008.xls: Main—Pricing cannot create aggregate profit (Marx Vol. I; Sraffa, pp. 3–5) [Spreadsheet printout].

• Shaikh, A. (n.d.). Notes on Sraffa [Annotated typed manuscript].

• Shaikh, A. (2009, March 5). Sraffa [Unpublished handwritten …

Sraffa Paper Notes, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Cozzi, T., & Marchionatti, R. (Eds.). (2001). Piero Sraffa's political economy: A centenary estimate. Routledge. [Unpublished — contents listed as title and author only: "Monetary analysis in Sraffa's writings," Carlo Panico; "Interest rate and distribution," Riccardo Bellofiore]
• Shaikh, A. (2004, October 28). [Handwritten annotation on title page of Piero Sraffa's political economy: A centenary estimate]. Unpublished manuscript note. New School for Social Research.
• Shaikh, A. (2004, October 28). [Handwritten marginal annotation on text pages regarding Sraffa's claim that i → r, with i determined by the Bank or Stock Exchange, and notation "Sraffa on i …

Two Papers - Profit & Competition Exchange Rates, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Anwar Shaikh. (2004). The power of profit. Social Research, 71(2), 389–431. Johns Hopkins University Press, Baltimore, MD.

• Anwar Shaikh. (1991, December 16; revised 1994, November). Competition and exchange rates: Theory and empirical evidence (Unpublished manuscript). Department of Economics, Graduate Faculty, The New School for Social Research, New York, NY.

Classical Accumulation Analysis, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Classical accumulation analysis [Title page]. (1987, August).

• Shaikh, A. (n.d.). Classical model [Handwritten notes]. Unpublished manuscript.

• Shaikh, A. (1988, February 23). Slow adjustment with limit cycle [Handwritten notes]. Unpublished manuscript.

• Shaikh, A. (1988, February 28). Shape of cost curves and profit margin [Handwritten notes]. Unpublished manuscript.

• Shaikh, A., & Milberg, W. (2000, Spring). Lectures on growth theory for Economics 105 [Course lectures]. Unpublished manuscript.

• Shaikh, A. (2004, May 18). Simple dynamic Keynesian model [Handwritten notes]. Unpublished manuscript.

• Shaikh, A. (2003, October 18). RAL and FROP connection [Handwritten notes]. Unpublished manuscript. …

Dynamics Of Growth With Endogenous Savings, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (n.d.). Dynamics of growth with endogenous savings [Folder]. Includes “Pollin’s point.”

• Shaikh, A., PhD. (2003, November 21). Firm’s budget constraint [Handwritten notes].

• Shaikh, A., PhD. (2003, November 19). The problem of SR equil in a growing eco [Handwritten notes].

• Shaikh, A., PhD. (2003, November 21). Household & business savings rates [Handwritten notes].

• Shaikh, A. (2003, December). Business savings and the business cycle [Typed graphs].

• Shaikh, A., PhD. (2004, January 16). Notes on private expenditure, income, and the Ruggles and Godley hypotheses [Handwritten notes].

• Shaikh, A., PhD. (n.d.). The …

The Economic Mythology Of Neoliberalism, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A., PhD. (2004). The economic mythology of neoliberalism [Manuscript of material included in an edited volume]. In A. Saad-Filho & D. Johnston (Eds.), Neoliberalism: A critical reader. London, England: Pluto Press.

Production, Prices, And Profits, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2004). Production, prices and profit (Unpublished manuscript).
• Shaikh, A. (2004). Wageprices (Unpublished manuscript).
• Shaikh, A. (2004). Foreign profits (Unpublished manuscript).

Folder On Inflation, Part 4, Money Prices Of Gold, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2003, October 30). Note on money & inflation & gold prices [Handwritten notes by Anwar Shaikh, PhD].
• U.S. Global Investors. (2004, February 23). A study on the benefits of gold equities as an asset class for portfolio diversification [Selected online presentation slides].

Two Routes To Effective Demand Comment On Kregel, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Garegnani, P.. (2024). Two routes to effective demand: comment on Kregel. In Capital Theory, the Surplus Approach, and Effective Demand: An Alternative Framework for the Analysis of Value, Distribution and Output Levels (pp. 435-444). Cham: Springer International Publishing.

• Harcourt, G. C. (n.d.). Keynes’s college bursar view of investment: Comment on Kregel [Unpublished manuscript].

Modern Macro, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Taylor, J. B. (2000). Teaching modern macroeconomics at the principles level. The American Economic Review, 90(2), 90–94. American Economic Association (22-28_Mode... pp. 2, 7).
• Shaikh, A. (n.d.). Notes on Alvaro Cencini and macro school models (Handwritten notes) (22-28_Mode... p. 8).
• De Vroey, M., & Hoover, K. D. (2004). Introduction: Seven decades of the IS-LM model. History of Political Economy, 36(Suppl. 1), 1–11. Duke University Press (22-28_Mode... pp. 9-10).
• Cencini, A. (n.d.). Neoclassical, new classical and new business cycle economics: A critical survey (Unpublished manuscript) (22-28_Mode... p. 21).