This paper discusses two forecasting experiments involving models of the watermelon market. The first experiment compares the forecasts of an interdependent model estimated by limited information, single equation with those of a model using least squares reduced form. The second experiment compares the forecasts of the interdependent model with those of a causal chain model. It is found that the forecasts of the interdependent model are generally better than those of the alternative models.

I. Introduction, 238. — II. Behavioral assumptions underlying theories of managerial enterprise, 239. — III. Target rate of return pricing as a managerial tool, 244. — IV. Management goals and restraints on managerial autonomy, 248. — V. Implications for the theory of the firm, 253.

Harsanyi [1], after translating Zeuthen's bargaining theory [5, Ch. 4] into modern utility terms, has shown that it implies the same outcome as Nash's theory [4], namely a settlement that maximizes the product of the utility increments of the two parties. In the same paper, Harsanyi also reviewed Hicks's comparable theory [2, pp. 140-45] and found it, understandably, distinctly inferior to Zeuthen's. The context that both Zeuthen and Hicks had in mind was labor-management bargaining, where agreements and conflicts have time dimensions. Specifically in such situations, it will be suggested, it is possible to combine the central conceptions of both Zeuthen and Hicks in a composite theory that is superior to either of the separate ones. To prepare the way for the composite theory's presentation, its components will be briefly summarized.

L. L. Ecker-Racz, Whither State and Local Finance?, The Journal of Finance, Vol. 19, No. 2, Part 1: Papers and Proceedings of the Twenty-Second Annual Meeting of the American Finance Association, Boston, Massachusetts, December 27-29, 1963 (May, 1964), pp. 370-381

Journal Article The Determinants of Wage Rate Changes and the Inflation-Unemployment Trade-off for the United States Get access G. L. Perry G. L. Perry University of Minesota Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 31, Issue 4, October 1964, Pages 287–308, https://doi.org/10.2307/2295900 Published: 01 October 1964

Abstract Under-developed countries and many developed countries need outside capital for expansion. The residents of other countries have capital to invest, but they need accounting that they can understand, at two stages. First, to select the businesses they are going to invest in and second, to know how their investments are doing. They cannot do that today because there are different accounting rules in different countries. There are variations from one country to another not only in accounting principles but also in reporting practices, that is, what management customarily discloses to investors and prospective investors. One simple conclusion is that when the citizens of one country invest capital in enterprises in a second country, the accounting principles of the investor nation will follow the capital. Another reason for differences in accounting is found in the legal traditions of the countries. It is quite possible for two countries having similar practices to diverge during the course of their economic development and adopt different accounting customs.

Abstract In the article, the author attempts various aspects about valuation of assets in terms of the net discounted cash flows that they are expected to generate over their productive lives. While there may be much to be said for modifying some features of conventional accounting, this article attempted to show that the discounted services approach was a snare in the way toward improvement as it suffered from crippling internal weaknesses. The author has also argued that whenever a stream of cash flows is jointly generated by more than one asset, the discounted services method cannot be used to value those assets individually without becoming very arbitrary. From a study, it seems that most actual relationships between assets and net receipts would be nonhomogeneous and that few companies would be able to escape the severe flaws of the discounted services approach. Outside of financial accounting, the discounted services approach is largely unaffected by these arguments. The approach breaks down only when it is used to value individual assets for balance sheet purposes.