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Public Goods and the Technology of Consumption

Review of Economic Studies 1973 40(4), 517-528
Journal Article Public Goods and the Technology of Consumption Get access Agnar Sandmo Agnar Sandmo Norwegian School of Economics and Business Administration, Bergen Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 40, Issue 4, October 1973, Pages 517–528, https://doi.org/10.2307/2296585 Published: 01 October 1973

Odd-Lot Trading in the Stock Market and Its Market Impact: A Comment

Journal of Financial and Quantitative Analysis 1973 8(3), 527
Professor Wu, in his recent article [8], investigated the trading activities of odd-lotters and their market impact. The purpose of this note is to update the data examined by Wu since recent trends are extremely significant and to question the use and interpretation of some of Wu's original data. In addition, some errors in Wu's article will be discussed.

The Variation of the Return on Stocks in Periods of Inflation

Journal of Financial and Quantitative Analysis 1973 8(2), 247
The bear market of the late sixties amidst inflation has led to growing concern over the validity of the proposition that stocks provide a good hedge against inflation. Conflicting arguments have been raised on both sides of the issue but a synthesis has as yet failed to emerge. The gains resulting from a careful assessment of the various propositions are obvious. If stock prices are adversely affected by inflation, the financial analyst must search for other hedges against the erosion of the purchasing power of money, while the economist must note that inflation has a depressing effect on economic growth through the rise of the cost of capital.