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Full-Text Articles in Social and Behavioral Sciences

Models Of Technical Progress And The Golden Rule Of Research, Edmond S. Phelps Oct 1964

Models Of Technical Progress And The Golden Rule Of Research, Edmond S. Phelps

Cowles Foundation Discussion Papers

The primary purpose of this paper is to present a model of technical progress and economic growth from which one can derive a Golden Rule of Research quite analogous to the Golden Rule of Accumulation. The secondary purpose is to discuss various models of technical progress. That there might exist a Golden Rule for research is not surprising since research is a kind of investment – investment in technology – just as “accumulation” denotes investment in tangible capital. Nevertheless “capital” and “technology” differ in important aspects. If, given the technology, the production of commodities is homogeneous of degree one in …


The Construction Of Utility Functions From Expenditure Data, S. N. Afriat Oct 1964

The Construction Of Utility Functions From Expenditure Data, S. N. Afriat

Cowles Foundation Discussion Papers

No abstract provided.


An Experimental Study In Oligopoly, James W. Friedman Sep 1964

An Experimental Study In Oligopoly, James W. Friedman

Cowles Foundation Discussion Papers

A very general model with which many theories of oligopolistic behavior might be tested would be a useful tool for economists. In the first part of this paper a model is proposed for this role. The model is not developed in the fullest degree of generality, but is presented in the way most relevant to experiments of the type presented in the second part of the paper. The experiments employ a simple market model in which each subject takes the role of a business firm, each firm has only one decision variable under its control (its own price) and the …


Second Essay On The Golden Rule Of Accumulation, Edmond S. Phelps Aug 1964

Second Essay On The Golden Rule Of Accumulation, Edmond S. Phelps

Cowles Foundation Discussion Papers

No abstract provided.


A Decomposition Algorithm For Quadratic Programming, Andrew B. Whinston Jun 1964

A Decomposition Algorithm For Quadratic Programming, Andrew B. Whinston

Cowles Foundation Discussion Papers

No abstract provided.


Convexity In The Theory Of Choice Under Risk, Menahem E. Yaari May 1964

Convexity In The Theory Of Choice Under Risk, Menahem E. Yaari

Cowles Foundation Discussion Papers

No abstract provided.


The Existence Of A Competitive Equilibrium In A Monetary Economy, Emmanuel M. Drandakis Apr 1964

The Existence Of A Competitive Equilibrium In A Monetary Economy, Emmanuel M. Drandakis

Cowles Foundation Discussion Papers

No abstract provided.


The Monetary Mechanism: Some Partial Relationships, James L. Pierce Apr 1964

The Monetary Mechanism: Some Partial Relationships, James L. Pierce

Cowles Foundation Discussion Papers

No abstract provided.


An Informal Aggregative Socio-Economic Simulation Of A Latin American Country, Part 1, James W. Friedman, Martin Shubik Apr 1964

An Informal Aggregative Socio-Economic Simulation Of A Latin American Country, Part 1, James W. Friedman, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


Ownership And The Production Function, Lloyd S. Shapley, Martin Shubik Mar 1964

Ownership And The Production Function, Lloyd S. Shapley, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


On Prices, Fiat Money, Credit And Transferable Utility. Part I, Martin Shubik Jan 1964

On Prices, Fiat Money, Credit And Transferable Utility. Part I, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


On The Concept Of Optimal Economic Growth, Tjalling C. Koopmans Dec 1963

On The Concept Of Optimal Economic Growth, Tjalling C. Koopmans

Cowles Foundation Discussion Papers

No abstract provided.


Appendix To ‘On The Concept Of Optimal Economic Growth', Tjalling C. Koopmans Dec 1963

Appendix To ‘On The Concept Of Optimal Economic Growth', Tjalling C. Koopmans

Cowles Foundation Discussion Papers

No abstract provided.


A Two-Country, Three Commodity, Dynamic Model Of International Trade, T. N. Srinivasan Dec 1963

A Two-Country, Three Commodity, Dynamic Model Of International Trade, T. N. Srinivasan

Cowles Foundation Discussion Papers

No abstract provided.


On An Asymptotic Non-Substitution Theorem In The Two-Sector Closed Production Model, Emmanuel M. Drandakis Dec 1963

On An Asymptotic Non-Substitution Theorem In The Two-Sector Closed Production Model, Emmanuel M. Drandakis

Cowles Foundation Discussion Papers

No abstract provided.


Conjugate Functions And Symmetric Duality, Andrew B. Whinston Nov 1963

Conjugate Functions And Symmetric Duality, Andrew B. Whinston

Cowles Foundation Discussion Papers

No abstract provided.


Two Papers Commerating Domar's “ ‘Burden Of The Debt’ And The National Income, Edmond S. Phelps, T. N. Srinivasan Sep 1963

Two Papers Commerating Domar's “ ‘Burden Of The Debt’ And The National Income, Edmond S. Phelps, T. N. Srinivasan

Cowles Foundation Discussion Papers

No abstract provided.


Anticipated Inflation And Economic Welfare In A Neoclassical Model, Edmond S. Phelps Sep 1963

Anticipated Inflation And Economic Welfare In A Neoclassical Model, Edmond S. Phelps

Cowles Foundation Discussion Papers

No abstract provided.


Commercial Banks As Creators Of ‘Money, James Tobin Jul 1963

Commercial Banks As Creators Of ‘Money, James Tobin

Cowles Foundation Discussion Papers

No abstract provided.


On The Existence Of An Optimal Plan In A Continuous-Time Allocation Process, Menahem E. Yaari May 1963

On The Existence Of An Optimal Plan In A Continuous-Time Allocation Process, Menahem E. Yaari

Cowles Foundation Discussion Papers

No abstract provided.


A Test Of The Specification Of The Aggregate Production Function, Ronald G. Bodkin Apr 1963

A Test Of The Specification Of The Aggregate Production Function, Ronald G. Bodkin

Cowles Foundation Discussion Papers

No abstract provided.


Consumption-Saving Decisions When The Horizon Is Random, Menahem E. Yaari Mar 1963

Consumption-Saving Decisions When The Horizon Is Random, Menahem E. Yaari

Cowles Foundation Discussion Papers

No abstract provided.


On The Consumer's Lifetime Allocation Process, Menahem E. Yaari Mar 1963

On The Consumer's Lifetime Allocation Process, Menahem E. Yaari

Cowles Foundation Discussion Papers

No abstract provided.


Proportional Growth And Turnpike Theorems, Tjalling C. Koopmans Jan 1963

Proportional Growth And Turnpike Theorems, Tjalling C. Koopmans

Cowles Foundation Discussion Papers

No abstract provided.


Properties Of Efficient Accumulation Paths In A Closed Production Model, Emmanuel M. Drandakis Jan 1963

Properties Of Efficient Accumulation Paths In A Closed Production Model, Emmanuel M. Drandakis

Cowles Foundation Discussion Papers

No abstract provided.


Factor Substitution In The Two-Sector Growth Model, Emmanuel M. Drandakis Jan 1963

Factor Substitution In The Two-Sector Growth Model, Emmanuel M. Drandakis

Cowles Foundation Discussion Papers

No abstract provided.


Seasonal Adjustment Of Economic Time Series And Multiple Regression, Michael C. Lovell Jan 1963

Seasonal Adjustment Of Economic Time Series And Multiple Regression, Michael C. Lovell

Cowles Foundation Discussion Papers

After demonstrating that any nontrivial technique for seasonally adjusting time series inevitably leads to certain distortions of the data, an effort is made to provide explicit motivation for the process of seasonal adjustment for purposes of appraising current economic conditions. Inherent advantages in terms of certain consistency requirements of a least square procedure for seasonal adjustment are pointed out. Problems encountered by the econometrician when seasonally adjusted time series are to be employed in regression analysis are also explored. The dummy variable technique for dealing with seasonal fluctuations is generalized to encompass a flexible pattern of seasonal movement. It is …


An Analysis Of The Effects Of Transitory Income On Expenditure Of Norwegian Households, Harold W. Watts Dec 1962

An Analysis Of The Effects Of Transitory Income On Expenditure Of Norwegian Households, Harold W. Watts

Cowles Foundation Discussion Papers

No abstract provided.


On Flexibility Of Future Preference, Tjalling C. Koopmans Dec 1962

On Flexibility Of Future Preference, Tjalling C. Koopmans

Cowles Foundation Discussion Papers

No abstract provided.


The Demand For Cash And Working Balances Of Corporations, Alan W. Heston Nov 1962

The Demand For Cash And Working Balances Of Corporations, Alan W. Heston

Cowles Foundation Discussion Papers

No abstract provided.