Download or read book The Nature of the Firm written by Oliver E. Williamson and published by Oxford University Press, USA. This book was released on 1993 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.
Download or read book Risk Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Download or read book The Theory of Price Uncertainty Production and Profit written by Clement Allan Tisdell and published by Princeton University Press. This book was released on 2015-12-08 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Firms and farmers, under pure competition, must make production decisions in the face of price uncertainty. The author has integrated diverse theories of behavior under uncertainty to provide a new framework for his mathematical analysis of the impact of price uncertainty on the behavior of the firm. Drawing upon the work of Knight, Hicks, von Neumann, and Morgenstern, he develops a schema that accounts for a greater diversity of behavior than do existing theories, yet one which yields simple economic theorems of practical value. The conclusions he draws apply to both socialist and capitalist economics. Originally published in 1968. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Download or read book The Impact of Price Uncertainty written by Don Coes and published by Taylor & Francis. This book was released on 2017-04-21 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1979. This book addresses three questions regarding uncertainty in economic life: how do we define uncertainty and use the concept meaningfully to provide conclusions; how can the level of uncertainty associated with a particular variable of economic interest be measured; and does experience provide any support for the view that uncertainty really matters. It develops a theory of the effect of price uncertainty on production and trade, takes a graphical approach to look at effects of a mean preserving spread to create rules for ordering distributions, and finishes with an econometric analysis of the effects of Brazil’s adoption of a crawling peg in reducing real exchange rate uncertainty. This is an important early study into the significance of uncertainty.
Download or read book Facility Location and the Theory of Production written by Arthur P. Hurter and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: The design and location of production facilities are important aspects of corporate strategy which can have a significant impact on the socio economy of nations and regions. Here, these decisions are recognized as being interrelated; that is, the optimal plant design (input mix and output level) depends on the location of the plant, and the optimal location of the plant depends on the design of the plant. Until the late 1950s, however, the questions of where a firm should locate its plant and what should be its planned input mix and output level were treated, for the most part, as separate questions, and were investigated by different groups of research ers. Although there was some recognition that these questions are inter I 1928; Hoover 1948; Isard 1956], no detailed analysis related [e. g. , Pre doh or formal structure was developed combining these two problems until the work of Moses [1958]. In recent years scholarly interest in the integrated production/locaton decision has been increasing rapidly. At the same time that research on the integrated production/location problem was expanding, significant related work was occurring in the fields of operations research, transportation science, industrial engineering, eco nomics, and geography. Unfortunately, the regional scientists working on the production/location problem had little contact with researchers in other fields. They generally publish in different journals and attend dif ferent professional meetings. Consequently, little of the recent work in these fields has made its way into the production/location research and vice versa.
Download or read book The Location Theory of an Agroindustrial Firm Under Random Input Price written by Song-Ken Hsu and published by . This book was released on 1995 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book New Economics of Risk and Uncertainty written by Moawia Alghalith and published by Nova Publishers. This book was released on 2007 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents an alternative theoretical framework that can serve as the basis for a new age of economic analysis under risk and uncertainty. This work features an endogenous theory that overcomes the major shortcomings of both the expected utility and the rank-dependent models while it possesses the merits of both.
Download or read book Natural Resources Uncertainty and General Equilibrium Systems written by Alan S. Blinder and published by Elsevier. This book was released on 2013-10-22 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural Resources, Uncertainty, and General Equilibrium Systems: Essays in Memory of Rafael Lusky compiles a collection of works by economists who had been friends and colleagues of Rafael Lusky, a teacher in the University of Florida and contributor to theoretical resource economics. This book is divided into four sections— natural resources, uncertainty, general equilibrium systems, and policy and applications. In these sections, this text specifically discusses the resource depletion with technological uncertainty and the Rawlsian fairness principle; monopoly, uncertainty, and exploration; and price discrimination under uncertainty. The insurance theoretic aspects of workers' compensation; adverse selection and optimum insurance policies; and difficulty with Keynesian models of aggregate demand are also elaborated. This compilation likewise deliberates the exchange model of bilateral trade; optimal taxes on foreign lending; and extended linear permanent expenditure system (ELPES). This publication is a useful reference for economists and students concerned with theoretical resource economics.
Download or read book Investment under Uncertainty written by Robert K. Dixit and published by Princeton University Press. This book was released on 2012-07-14 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
Download or read book Inequalities written by G. H. Hardy and published by Cambridge University Press. This book was released on 1952 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This classic of the mathematical literature forms a comprehensive study of the inequalities used throughout mathematics. First published in 1934, it presents clearly and lucidly both the statement and proof of all the standard inequalities of analysis. The authors were well-known for their powers of exposition and made this subject accessible to a wide audience of mathematicians.
Download or read book The Pure Theory of International Trade under Uncertainty written by Raveendra N. Batra and published by Springer. This book was released on 1975-06-18 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on the Behavior of Firms Under Uncertainty and International Finance written by Nobumori Yagi and published by . This book was released on 1985 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Comprehensive Assessment of the Role of Risk in U S Agriculture written by Richard E. Just and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: After all the research on agricultural risk to date, the treatment of risk in agricultural research is far from harmonious. Many competing risk models have been proposed. Some new methodologies are largely untested. Some of the leading empirical methodologies in agricultural economic research are poorly suited for problems with aggregate data where risk averse behavior is less likely to be important. This book is intended to (i) define the current state of the literature on agricultural risk research, (ii) provide a critical evaluation of economic risk research on agriculture to date and (iii) set a research agenda that will meet future needs and prospects. This type of research promises to become of increasing importance because agricultural policy in the United States and elsewhere has decidedly shifted from explicit income support objectives to risk-related motivations of helping farmers deal with risk. Beginning with the 1996 Farm Bill, the primary set of policy instruments from U.S. agriculture has shifted from target prices and set aside acreage to agricultural crop insurance. Because this book is intended to have specific implications for U.S. agricultural policy, it has a decidedly domestic scope, but clearly many of the issues have application abroad. For each of the papers and topics included in this volume, individuals have been selected to give the strongest and broadest possible treatment of each facet of the problem. The result is this comprehensive reference book on the economics of agricultural risk.
Download or read book Advances in DEA Theory and Applications written by Kaoru Tone and published by John Wiley & Sons. This book was released on 2017-06-26 with total page 579 pages. Available in PDF, EPUB and Kindle. Book excerpt: A key resource and framework for assessing the performance of competing entities, including forecasting models Advances in DEA Theory and Applications provides a much-needed framework for assessing the performance of competing entities with special emphasis on forecasting models. It helps readers to determine the most appropriate methodology in order to make the most accurate decisions for implementation. Written by a noted expert in the field, this text provides a review of the latest advances in DEA theory and applications to the field of forecasting. Designed for use by anyone involved in research in the field of forecasting or in another application area where forecasting drives decision making, this text can be applied to a wide range of contexts, including education, health care, banking, armed forces, auditing, market research, retail outlets, organizational effectiveness, transportation, public housing, and manufacturing. This vital resource: Explores the latest developments in DEA frameworks for the performance evaluation of entities such as public or private organizational branches or departments, economic sectors, technologies, and stocks Presents a novel area of application for DEA; namely, the performance evaluation of forecasting models Promotes the use of DEA to assess the performance of forecasting models in a wide area of applications Provides rich, detailed examples and case studies Advances in DEA Theory and Applications includes information on a balanced benchmarking tool that is designed to help organizations examine their assumptions about their productivity and performance.
Download or read book The Theory of the Firm written by Daniel F. Spulber and published by Cambridge University Press. This book was released on 2009-04-13 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Theory of the Firm presents an innovative general analysis of the economics of the firm.
Download or read book Uncertainty and the Employment Dynamics of Small and Large Businesses written by Vivek Ghosal and published by International Monetary Fund. This book was released on 2015-01-14 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based on the survey of professional forecasters, and regressionbased forecasting models for GDP growth, inflation, S&P500 stock price index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of employment, and the effects are primarily felt by the relatively smaller businesses; the impact on large businesses are generally non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on employment dynamics, we need to focus on the relatively smaller and entrepreneurial businesses. We discuss implications for the framing of economic policy.
Download or read book The Geography of Competition written by John R. Miron and published by Springer Science & Business Media. This book was released on 2010-03-16 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive, up-to-date, and expert synthesis of location theory. What are the impacts of a firm’s geographic location on the locations of customers, suppliers, and competitors in a market economy? How, when, and why does this result in the clustering of firms in space? When and how is society made better or worse off as a result? This book uses dozens of locational models to address aspects of these three questions. Classical location problems considered include Greenhut-Manne, Hitchcock-Koopmans, and Weber-Launhardt. The book reinterprets competitive location theory, focusing on the linkages between Walrasian price equilibrium and the localization of firms. It also demonstrates that competitive location theory offers diverse ideas about the nature of market equilibrium in geographic space and its implications for a broad range of public policies, including free trade, industrial policy, regional development, and investment in infrastructure. With an extensive bibliography and fresh, interdisciplinary approach, the book will be an invaluable reference for academics and researchers with an interest in regional science, economic geography, and urban planning, as well as policy advisors, urban planners, and consultants.
