摘要:

Newspaper publishers supposedly profit some sensational events. Focusing on the two different products sold by publishers, newspapers and advertising space, this paper shows why sensational events do not necessarily increase publishers' wealth. It also uses financial market analysis to examine the wealth effects of one sensational event, Watergate, on a portfolio of newspaper stocks and on the Washington Post in particular. No significant effects are found.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1987.tb00728.x

出版商:Blackwell Publishing Ltd    

年代:1987

数据来源: WILEY

摘要:

By increasing the expected wage in low skill jobs, a minimum wage law can reduce the incentive for low skill workers to imitate high skill workers in the signalling process. The gain from reduced investment in the signal can more than offset the loss from unemployment among low skill workers so that total output increases. Moreover, with an appropriate poll tax on workers to compensate owners of capital, the law can make all workers and owners of capital better off.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1987.tb00729.x

出版商:Blackwell Publishing Ltd    

年代:1987

数据来源: WILEY

摘要:

This paper investigates the relationship between single‐family house prices and contingent terms in contracts. Since contingencies create uncertainty, the market should exact a price premium. The results indicate that the contracting for property rights affects house prices in the predicted way

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1987.tb00730.x

出版商:Blackwell Publishing Ltd    

年代:1987

数据来源: WILEY

摘要:

In his famous human capital model, Mincer provides assumptions under which a worker's annual log‐earnings are a function of years of schooling and years of experience. The function has the important property, widely invoked in empirical studies, that its derivative with respect to schooling equals the rate of return to the schooling investment. It is shown here that some of Mincer's assumptions are not needed for the property to hold, but that other assumptions carry troublesome hidden implication

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1987.tb00731.x

出版商:Blackwell Publishing Ltd    

年代:1987

数据来源: WILEY

摘要:

The august title ‘the theory of the firm’ is well known to every student of economics. Less well known is what a firm is exactly, what it may do, or of what use this ‘theory’ may be in understanding the world. W.Y. Oi adds substance to our vague outline of a ‘theory’ in his analysis of heterogeneous firms, while posing a definite challenge of explanation for it. If the result falls short of the mark, it is an interesting attempt, n

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1987.tb00732.x

出版商:Blackwell Publishing Ltd    

年代:1987

数据来源: WILEY

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1987.tb00733.x

出版商:Blackwell Publishing Ltd    

年代:1987

数据来源: WILEY