ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1978.tb00278.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1978.tb00279.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY

摘要:

Metaphors of maximization are used repeatedly in biological discussions of evolution. To test whether the usefulness of a maximizing formulation, such as has been developed in economics and physics, is really borne out of sociobiology, some concrete demographic models have been taken from standard Lotka theory. They have been combined with scarcity of resources and the law of diminishing returns. It then turns out that the resulting coupled non‐linear system of difference equations can only sometimes be given a maximizing interpretation. When this can be done, it is shown that no knowledge on the part of the participants or the observers of any preexisting problem to be solved is required. But, even when a maximizing interpretation is possible, it is shown that teleological concepts such as “egotism,”“reciprocal altruism,”“adaptation,” or “fitness” are redundant ways of describing the positivistic fact that Nature's cookie sometimes crumbles in such a way as to make certain patterns recurrent and viable, while certain other patterns are only transiently persistent. Most important of all, for almost every choice of the parameters of a model no maximand can be found to be definable and whose solution constitutes the observable and testable behavior equations. Not only are the imperialist‐economists pretensions debunked by this audit, but in addition various of the concepts of biologists such as R. A. Fisher are seen to be severely limited in sc

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1978.tb00280.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1978.tb00281.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY

摘要:

The proper measurement of unemployment during the 1930's with respect to the classification of relief workers has recently been questioned. This study explores that issue, leading to a number of substantive issues about the operation of the U.S. economy in the Great Depression. Both historical and econometric evidence are utilized. The notion of full displacement of private‐sector and other public employment by relief work is rejected. The conditions of excess demand for jobs, numerous “look‐alike” unemployed, sticky wage adjustment, and sales‐constrained firms are found to undermine the validity of the anticipations‐search model and the natural‐rate hypothesis fo

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1978.tb00282.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY

摘要:

Samuelson (1961) concluded that in a dynamic setting any scalar concept of current economic activity is inherently myopic with respect to the relevant welfare‐space. This conclusion, which virtually undermines any welfare foundations for the concept of income, is shown to be based on an incomplete and inconsistent concept of capital formation. When this is amended, the alleged welfare contradiction in the concept of income vanishe

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1978.tb00283.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY

摘要:

Theory predicts that the combined capacity of two competing utility firms will be greater than the market requires and excess capacity will result. This study tested a set of monopoly and a set of duopoly electric utility firms and found that the outcome predicted by theory did not occur. Even though the duopoly firms did face more downward pressure on capacity utilization than the monopoly firms, the difference was not statistically significant. These results reveal that public policy decisions, predicated upon assumptions that combined capacity of two competing electric firms would be greater than the market requires, should be re‐examine

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1978.tb00284.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY

摘要:

The regulatory environment is assumed to be characterized by changing labor costs and productivity, and by the existence of set‐up costs for rate reviews. If the commission behaves myopically, price changes are shown to occur only when a threshold deviation of actual from target return is reached. During periods where productivity (wage) increases predominate, the actual return is thus consistently higher (lower) than the target level. If, however, the commission incorporates dynamic trends into its decision‐making process, there are intervals where actual return both exceeds and falls short of target levels; on average, the firm earns over time a return that is approximately equal to the target le

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1978.tb00285.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY

摘要:

Can an informationally decentralized mechanism be designed so as to lead society to a predetermined distribution of income and with the resulting allocation being Pareto optimal? In the present paper this question is answered affirmatively by presenting a decentralized mechanism capable of achieving these objectives. As a by‐product of the analysis the redistributive possibilities arising from the creation of accounting “money” are also brough

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1978.tb00286.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY

摘要:

This paper studies the dynamic properties of a simple macro‐economic model where exchange takes place outside equilibrium. It introduces an explicit treatment of the way the economic agents form sales expectations over time and specifies price and wages adjustments. This allows an analysis of the price‐quantity dynamics of an ongoing Neo‐Keynesian economy. The global stability properties of the full employment equilibrium are established although Keynesian results characterize the short run. Unemployment equilibria can only occur when extreme cases of pessimistic expectations are consi

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1978.tb00287.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY