Economic Journal
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Опубликовано на портале: 31-03-2003
Domenico Mario Nuti
Economic Journal.
1970.
Vol. 80.
P. 32-57 .
The purpose of this paper is that of considering the choice of production techniques
from the point of view of both the capitalist entrepreneur maximising the present
value of his firm's assets at a given interest rate and the socialist planner maximising
the consumption per head associated with the maintenance of a given growth rate.
A model of production is set up, in which output is made of a
versatile consumption and production good, called putty, and of the machines which
are made of putty and are necessary to assist labour in order to produce putty. It
is assumed that technical choice is irreversible, i.e., that putty is moulded and
baked into clay machines of given specifications, which cannot be turned back into
putty or into machines of different specifications. Also, their use is not affected
by technical progress, which improves the design of new machines but not the operation
of those already constructed. The assumption of the costless transformation putty
into clay and the use of gross measures evade this fundamental issue of capital theory.
[Авторский текст]
Опубликовано на портале: 07-02-2003
B. Curtis Eaton, Richard G. Lipsey
Economic Journal.
1978.
Vol. 88.
No. 351.
P. 455-69.
We have demonstrated that zero pure profit is not a necessary condition of free-entry
equilibrium in a model in which the market is spatially extended and longrun cost
curves decline over some initial range. We have shown that neither price competition
among existing firms nor the entry of new firms will necessarily drive profits to
zero. This is true even when firms assume that they can cut their own price without
reaction from their competitors, and when new entrants rationally calculate whether
or not their entry will force existing firms to relocate. We have further shown,
in a specific example, that rates of return on capital of up to twice the competitive
rate are possible in free-entry equilibrium. The model of this paper is formulated
in terms of geographical differentiation among firms. There would seem, however,
to be significant applications to product differentiation, where firms sell products
with different locations in characteristics space, and a new product fitting in between
two established ones must expect a market significantly smaller than those obtained
by "neighbouring" products before entry. For a discussion of some of the issues involved
in handling monopolistic competition in characteristic space see Archibald and Kosenbluth
(1975) and for a practical application that uses some of the properties developed
in our model see Schmalensee (1977). [Авторский текст]
Опубликовано на портале: 31-03-2003
Joseph Hadar
Economic Journal.
1969.
Vol. 36.
No. 1.
P. 67-74.
The main results of the analysis can be briefly summarized. It was shown that it
is possible to specify the nature of the effects of advertising on the demand function
of a monopolistically competitive firm in a fashion which leads to meaningful and
testable hypotheses. The approach followed in this paper produced a model in which
the effects of changes in the shift parameters on the levels of output and advertising
are always determinate. Furthermore, we saw that if the firm is a competitive buyer
of advertising, then it turns out that the advertising ratio is invariant to changes
in parameters belonging to a certain class, an example of which is an excise tax.
Changes in parameters in the latter class also result in a predictable 4 Sufficient
conditions for stability of much an adjustment process are given in Hadar [4]. change
in the price of the firm's output, since the price always moves in a direction opposite
to that of the change in output whenever output and advertising change by the same
proportion. [Авторский текст]
The social costs of monopoly power [статья]
Опубликовано на портале: 07-02-2003
Keith Cowling, Dennis C. Mueller
Economic Journal.
1978.
Vol. 88.
No. 352.
P. 727-748.
In 1954, Arnold Harberger estimated the welfare losses from monopoly for the United
States at o.i of 1% of GNP. Several studies have appeared since, reconfirming Harberger's
early low estimates using different assumptions. The present paper levels several
objections against the Harberger-type approach. It then calculates estimates of the
welfare loss from monopoly using procedures derived to meet these objections, and
obtains estimates significantly greater than those of previous studies. Although
several of the objections we make have been made by other writers, none has systematically
adjusted the basic Harberger technique to take them into account. Thus all previous
estimates of monopoly welfare losses suffer in varying degrees from the same biases
incorporated in Harberger's original estimates. We present estimates for both the
United States and the United Kingdom based on data gathered at the firm level. [Авторский
текст]
Опубликовано на портале: 01-10-2003
Harold Demsetz
Economic Journal.
1964.
Vol. 74.
No. 295.
P. 623-641.
Статья является продолжением статьи Демсеца 1959 года и сосредотачивается на анализе
аспектов теории благосостояния применительно к модели монополистической конкуренции,
а также на выработке таких характеристик данной модели, которые поддавались бы эмпирической
проверке. В рамках статьи доказывается, что положения о неизбежном наличии в ситуации
равновесия на рынке монополистической конкуренции "избыточных мощностей", а также
о негативном влиянии продуктовой дифференциации на экономическую эффективность являются
необоснованными.
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