Knowledge that Transforms

Journal Article Ideal Prices vs. Prices vs. Quantities Get access N. J. Ireland N. J. Ireland University of Warwick Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 44, Issue 1, February 1977, Pages 183–186, https://doi.org/10.2307/2296983 Published: 01 February 1977 Article history Received: 01 March 1975 Accepted: 01 February 1976 Published: 01 February 1977

Arthur T. Denzau, Amoz Kats; Expected Plurality Voting Equilibrium and Social Choice Functions, The Review of Economic Studies, Volume 44, Issue 2, 1 June

David F. Bradford, Harry H. Kelejian; The Value of Information for Crop Forecasting in a Market System: Some Theoretical Issues, The Review of Economic Stu

Journal Article A Note on Producer Taxation and Public Production Get access Efraim Sadka Efraim Sadka Tel-Aviv University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 44, Issue 2, June 1977, Pages 385–387, https://doi.org/10.2307/2297076 Published: 01 June 1977

John S. Flemming, Stephen J. Turnovsky, Murray C. Kemp; On the Choice of Numeraire and Certainty Price in General Equilibrium Models of Price Uncertainty,

In this paper we are concerned with the dynamic properties of a multi-firm model of the Cambridge-type. The essential feature of the model is the assumption that, in making decisions concerning investments and prices, firms lack an exact knowledge of future demands and equilibrium prices. The dual stability-instability property of Leontief models (e.g. [2], [6, pp. 81-84]) or saddle-point property of neoclassical models (e.g. [1], [3]) is essentially due to the unrealistic assumption of perfect foresight. The first object of this paper is to show that, relaxing this assumption, a dual stability property for both quantities and prices holds. As firms must create output capacity for unknown future demand, excess capacity may result when out of equilibrium. But it will be shown that a certain type of investment behaviour where the firms learn from past experience would tend to adjust the structure of productive capacity to steady-state requirements. As for the price system, full cost pricing is assumed. In the short period, the firms produce as much as they can sell at fixed prices and they then revise these prices when a change in costs occurs. Furthermore, it will be assumed that the money wage rate increases at certain periods of time and that the firms pass it on in the form of higher prices. The second object of this paper is to examine under a simple Cambridge saving condition how real phenomena such as the rate of equilibrium growth, the stability of the input-output system, and the level of real wages are affected by the bargaining power of workers as well as by the monopoly power of firms.

Journal Article Uncertainty and Lags in the Investment Decisions of Firms Get access Stephen Nickell Stephen Nickell E.N.S.A.E., Paris, and London School of Economics Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 44, Issue 2, June 1977, Pages 249–263, https://doi.org/10.2307/2297065 Published: 01 June 1977

Journal Article The Effect of State and Private Pensions on Retirement Behaviour and Personal Capital Accumulation Get access R. C L. Hemming R. C L. Hemming Brunei University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 44, Issue 1, February 1977, Pages 169–172, https://doi.org/10.2307/2296980 Published: 01 February 1977 Article history Received: 01 July 1975 Accepted: 01 September 1976 Published: 01 February 1977

W. Brian Arthur, Geoffrey McNicoll; Optimal Time Paths with Age-Dependence: A Theory of Population Policy, The Review of Economic Studies, Volume 44, Issue 1, 1

Franklin M. Fisher, Robert M. Solow, James M. Kearl; Aggregate Production Functions: Some CES Experiments, The Review of Economic Studies, Volume 44, Issue