Atlantic Economic Journal articles from September 1993

Atlantic Economic Journal archives from September 1993

Towards a unified theory of the firm: an historical approach.
September 1, 1993... I. Introduction Most microtheorists have been preoccupied with the productive aspects of the firm, tending to neglect the questions of capital investment and finance.(1) The firm is usually modelled as maximizing its profits (either short run...

Cost analysis of water utilities: a goodness-of-fit approach.
September 1, 1993... I. Introduction The existing studies in the literature on the ownership/efficiency issue of private and public water utilities have presented conflicting findings. These studies are an indirect test of the tradeoff between two sources of...

The minimum optimal steel plant and the survivor technique of cost estimation.
September 1, 1993... I. Introduction Economists have long been interested in ways to determine the relationship between plant or firm size and efficiency as reflected by average cost. In many industries, economies of scale are so large relative to market demand...

Entry and competition in the Canadian telecommunications industry: the case of Alberta Government Telephones.
September 1, 1993... I. Introduction In the last few years, the telecommunications industry has undergone tremendous changes throughout the world. Important technological changes have modified and greatly transformed the structure of the telecommunications market...

Managers, specific human capital, and firm productivity in major league baseball.
September 1, 1993... I. Introduction The role of managers has long been an issue in both theories of the firm and applied fields such as industrial organization, organizational behavior, industrial relations, and labor economics. The roles assigned to managers...

Taking Money Seriously and Other Essays.
September 1, 1993... Taking Money Seriously (TMS) contains ten relatively nontechnical articles published during 1976-88. The first five chapters discuss Laidler's "buffer-stock" monetarism, explore his discontents with the Keynesian-Monetarist synthesis, and...

Taking money seriously.
September 1, 1993... Taking Money Seriously (TMS) contains ten relatively nontechnical articles published during 1976-88. The first five chapters discuss Laidler's "buffer-stock" monetarism, explore his discontents with the Keynesian-Monetarist synthesis, and...

Unprofitable collusion. (business losses)
September 1, 1993... Suppose a firm must set its output level before uncertainty is resolved. In some states of the world, unit costs may exceed the demand price, and the firm suffers a loss. Intuition suggests that, for a given negative shock, market power can...

Experimental economics in the classroom: learning to free-ride.
September 1, 1993... The current trend in higher education is to teach using experiential methods. The use of experimental economics in the classroom is part of that trend. Marwell and Ames |JPubE, 15, 1981, pp. 295-310~ and later Brock |EI, 29, 1991, pp. 395-401~...

A random utility maximization model of electricity demand: an update.
September 1, 1993... The emergence of large microeconomic datasets has fostered the development of many analytically superior models of consumer behavior. An example is the Random Utility Maximization model, melding both a discrete choice and a continuous choice into...

Is decomposition of output into permanent and transitory components informative?
September 1, 1993... Since the seminal work of Nelson and Plosser |JMonE, September 1982~, an immense amount of research has gone into testing for unit roots in macro series and estimation of permanent and transitory components of output changes. (See Campbell &...

Velocity and money growth variability: evidence from Japan.
September 1, 1993... A number of studies have been done investigating the behavior of the velocity of money both in the U.S. and U.K. during the early 1980s. The apparent end to the constant trend of velocity has called into question the stability of the demand for...

The recent behavior of M2 velocity?
September 1, 1993... There have been numerous references in recent Federal Reserve Open Market Committee minutes concerning the unusual behavior of M2 velocity. Normally, when interest rates decline (along with the opportunity cost of holding M2 balances), V2 also...

Firm size, business failure, and liabilities.
September 1, 1993... The cost to society of large business bankruptcies is considerable. Moreover, larger firms may potentially be less vulnerable to failure due to their greater access to funds from both internal and external sources. Finally, how large firms fare...

Time diversification and common stocks.
September 1, 1993... Despite Bernstein's |Journal of Portfolio Management, 1976~ observation that longer holding periods seem to insulate against the chance of loss and subsequent JPM articles extolling the virtues of time diversification, diversifying to reduce risk...

Is suicide a rational behavior?
September 1, 1993... Kimenyi and Shughart |AEJ, March 1986, p. 121~ argued that the societal suicide rate might theoretically be viewed as a rational behavior because 1) it was associated in a predictable manner with measures of social stress such as unemployment and...

A note on human capital vs. screening: evidence from sportometrics.
September 1, 1993... Much work has been written on the returns to heterogeneous labor inputs in the market, especially from a human capital perspective. Important among these is Becker |Human Capital, 1975~ and Wise |AER, 1975~. They point out that individuals make...

Intercounty net migration in Ohio, 1980-90.
September 1, 1993... An issue in migration literature centers around the effects of fiscal variables on migration decisions. Tiebout |JPE, 1956, pp. 416-24~ developed a formal model of human mobility in accordance with the movers' preferences for varying packages of...