Review of Economic Studies
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Alternative theories of distribution [статья]
Опубликовано на портале: 19-03-2003Nicholas Kaldor Review of Economic Studies. 1955. Vol. 2. No. 23. P. 83-100.
Дается обзор теорий, касающихся одной из ключевых проблем политической экономии, - проблемы распределения дохода. Имеющиеся теории классифицируются по четырем группам: классические (рикардианские), марксистские, неоклассические и кейнсианские.
Опубликовано на портале: 15-07-2004James Friedman Review of Economic Studies. 1971. Vol. 38. P. 1-12.
Presents a non-cooperative equilibrium concept, applicable to supergames, which fits John Nash's non-cooperative equilibrium and also has some features resembling the Nash cooperative solution. Description of an ordinary game; Definition and discussion of a non-cooperative equilibrium for supergames; Description of supergame and supergame strategies; Information on the Cournot strategy.
Опубликовано на портале: 12-05-2004James Friedman Review of Economic Studies. 1971. Vol. 38. No. 113. P. 1-12.
Presents a non-cooperative equilibrium concept, applicable to supergames, which fits John Nash's non-cooperative equilibrium and also has some features resembling the Nash cooperative solution.
Опубликовано на портале: 30-01-2007Debraj Ray, Kaljan Chatterjee, Kunal Sengupta, Bhaskar Dutta Review of Economic Studies. 1993. Vol. 60. No. 2. P. 463-77.
The authors explore a sequential offers model of n-person coalitional bargaining with transferable utility and with time discounting. Their focus is on the efficiency properties of stationary equilibria of strictly superadditive games when the discount factor 'delta' is sufficiently large. It is shown that delay and the formation of inefficient subcoalitions can occur in equilibrium, the latter for some or all orders of proposer. However, efficient stationary equilibrium payoffs converge to a point in the core as 'delta' approaches one. Strict convexity is a sufficient condition for there to exist an efficient stationary equilibrium payoff vector for sufficiently high 'delta'.
Опубликовано на портале: 31-03-2003William M. Gorman Review of Economic Studies. 1980. Vol. 47. No. 150. P. 843-857.
Provides information on a study which developed a method for analyzing quality differentials in the egg market. Details on the maximum likelihood methods; Hypotheses of the study; Method for minimizing the total variance. (Из Ebsco)
Опубликовано на портале: 21-09-2004Robert M. Anderson, M. Ali Khan, Salim Rashid Review of Economic Studies. 1982. Vol. 49. P. 473-475.
Authors prove the existence of approximate equilibria in exchange economies, giving bounds on the excess demand in terms of the number of traders and norms of the endowments, but independent of the preferences.
Опубликовано на портале: 02-09-2003Andrew B. Abel, Gregory N. Mankiw, Lawrence H. Summers, Richard J. Zeckhauser Review of Economic Studies. 1989. No. 56. P. 1-20.
The issue of dynamic efficiency is central to analyses of capital accumulation and economic growth. Yet the question of what characteristics should be examined to determine whether actual economies are dynamically efficient is unresolved. This paper develops a criterion for determining whether an economy is dynamically efficient. The criterion, which holds for economies in which technological progress and population growth are stochastic, involves a comparison of the cash flows generated by capital with the level of investment. Its application to the United States economy and the economies of other major OECD nations suggests that they are dynamically efficient.
Опубликовано на портале: 12-05-2004Leo K. Simon Review of Economic Studies. 1984. Vol. 51. P. 209-230.
Presents a study which developed a game-theoretic model of a pure exchange, monetary economy in which buyers and sellers announce both quantities and prices. Motivation and outline of the model; Similarities and differences between the model and that of Bertrand's; Components of the strategic market game.
Chamberlin versus Chicago [статья]
Опубликовано на портале: 01-10-2003George C. Archibald Review of Economic Studies. 1961. Vol. 29. No. 1. P. 2-28.
В статье анализируются методологические разногласия между чикагской школой и приверженцами подхода к анализу несовершенной конкуренции, развитого в книге Чемберлина "Теория монополистической конкуренции". Значительное внимание в статье приковано к анализу как предположений, лежащих в основе теории Чемберлина, так и выводов теории монополистической конкуренции.
Churning Bubbles [статья]
Опубликовано на портале: 14-03-2005Franklin Allen, Gary Gorton Review of Economic Studies. 1993. Vol. 60. No. 4. P. 813-836.
Are stock prices determined by fundamentals or can "bubbles" exist? An important issue in this debate concerns the circumstances in which deviations from fundamentals are consistent with rational behaviour. When there is asymmetric information between investors and portfolio managers, portfolio managers have an incentive to churn; their trades are not motivated by changes in information, liquidity needs or risk sharing but rather by a desire to profit at the expense of the investors that hire them. As a result, assets can trade at prices which do not reflect their fundamentals and bubbles can exist.
Cournot equilibrium with free entry [статья]
Опубликовано на портале: 12-05-2004William Novshek Review of Economic Studies. 1980. Vol. 47. P. 473-486.
Provides proof of the Folk Theorem for competitive markets with a single homogenous good and free entry and exit. Model of competition under the theorem; Cournot equilibrium with free entry.
Опубликовано на портале: 07-02-2003Giora Hanoch, Heim Levy Review of Economic Studies. 1969. Vol. 36. No. 3. P. 335-46.
Presents an efficiency analysis of choices involving risk in portfolio selection. Description of a necessary and sufficient condition of efficiency; Computations for the optimal efficiency criterion in the presence of general risk aversion; Analysis of the conditions under which the mean-variance criterion is a valid efficiency criterion. (Из Ebsco)
Опубликовано на портале: 31-03-2003Gerard R. Buttlers Review of Economic Studies. 1977. Vol. 44. No. 138. P. 465-491.
Focuses on the formulation of equilibrium distributions of sales and advertising prices. Development of a model in which sellers have constant average cost curves; Approach to prove assumptions on consumer preferences; Description of the basic model of consumer pricing. (Из Ebsco)
Опубликовано на портале: 31-03-2003Donald J. Brown, Geoffrey M. Heal Review of Economic Studies. 1979. Vol. 46. No. 145. P. 571-585.
Focuses on a study which examined economic equilibria involving increasing returns and optimality. Description of the model; Geometrical and mathematical derivation of the model; Conditions involved in economies with efficient equilibria. (From Ebsco)
Опубликовано на портале: 07-02-2003Pierangelo Garegnani Review of Economic Studies. 1970. Vol. 37. No. 111. P. 407-36.
Focuses on a study which dealt with production function, heterogeneous capital and the theory of distribution. Relations between the wage, the rate of interest and the product per worker in the two-commodity economy; Details on the surrogate production function; Premises of the traditional theory of distribution. (Из Ebsco)