Journal Article Pay Dispersion, Information, and Returns to Search in a Professional Labour Market Get access David Metcalf David Metcalf London School of Economics Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 40, Issue 4, October 1973, Pages 491–505, https://doi.org/10.2307/2296583 Published: 01 October 1973

Journal Article Inefficiency and the Demand for “Money” in a Sequence Economy Get access David Starrett David Starrett Harvard University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 40, Issue 4, October 1973, Pages 437–448, https://doi.org/10.2307/2296579 Published: 01 October 1973

Journal Article A Probabilistic Model of Social Choice Get access Michael D. Intriligator Michael D. Intriligator University of California, Los Angeles Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 40, Issue 4, October 1973, Pages 553–560, https://doi.org/10.2307/2296588 Published: 01 October 1973

T HE effects of schooling (as measured both by years attained and by one or more dimensions of quality), and socio-economic background in determining individuals' earnings, have long been controversial issues. In the past decade, with the advent of large scale empirical studies, a number of widely held but not well documented hypotheses about these issues have failed to find broad support in the data. Namely (a) several recent studies, most notably that by Coleman and his associates (1966), have found only a most tenuous relationship between conventional measures of the quality of school inputs and various achievement test scores and (b) the notion that socio-economic background is important in determining an individual's income has been played down in the literature concurrent with the rise in popularity of the human capital explanation of earnings differences (for example, Mincer (1970)). The purpose of this paper is to re-examine the relationship among income, socio-economic background, years of schooling and quality of school inputs. Several models are postulated which permit the examination of both the direct and the indirect effects of the various factors, separately for blacks and for whites. The primary data source is the 1968 Urban Problems Survey conducted by the Survey Research Center. The principal conclusions of this paper are: (a) school quality has a small direct effect on the wage rates of blacks but no apparent effect at all on the wages of whites; (b) for both races school quality has strong indirect effects as it influences the number of years of schooling attained; (c) socio-economic background, as variously measured, appears to have significant direct effects on earnings and, like school quality, indirect effects as it also influences the number of years of education attained; and (d) years of schooling appears to exert a strong influence on earnings independent of other measured variables, especially for whites.

Yiannis P. Venieris, Frederick D. Sebold, Richard D. Harper, The Impact of Economic, Technological and Demographic Factors on Aggregate Births, The Review of Economics and Statistics, Vol. 55, No. 4 (Nov., 1973), pp. 493-497

This article presents information on the use of dynamic programming in analyzing two accounting methods for inventories and their potential effect on manager decisions. The objectives are to consider the viability of dynamic programming in considering alternative accounting methods and their potential decision effects and the potential decision effects of variable and absorption cost inventory methods. These objectives are met by developing quantitative statements of the alternative methods in a decision-making context, transforming these statements to a dynamic programming formulation, solving these mathematical programs via the computer and analyzing the results in view of past research in the area. Inventory valuation methodology alternatives were selected because of the longtime interest of accountants in utilizing and comparing these systems, the resulting literature made available by that interest, and most important the failure of that literature to disclose a general model capable of fully investigating the decision alternatives in either an analytic or empirical manner. The dynamic programming solution technique is employed as the only viable optimizing methodology in existence.

This article presents a reply to the comments made by professor Tsvi Ophir to the author's article on gift tax computation. The author was trying to show that the decision to make a gift is determined by how long the individual is expected to live. It was stated clearly that the property did not appreciate or depreciate during the period of time between the date of gift and date of death of the donor. Thus, in his example the estate tax of $150,000 remained the same whether the individual lived five more years or ten years. What did change, however, was the fact that the taxpayer who elected not to make the gift has the use of the funds in his estate for five additional years. Present value refers to the broad area of time value of money. To be more precise he was attempting to incorporate the concept of time value of money into the problem under consideration. bracket. But the gift tax rate schedule is progressive in nature. As more and more gifts are made, the donor moves into a higher and higher gift tax bracket. After a point the individual's gift tax bracket may become higher than his estate tax bracket.

This article presents information on cognitive factors in accounting. Of particular interest to accountants is the possibility that the cognitive characteristics of an information user may affect his perception of what information is important and, hence, may affect how information influences his ultimate behavior. There is considerable support in the psychological literature on human information processing for the existence of such relationships. This paper describes a field study in which the applicability of some of these findings to the administrative information system domain was investigated. The objective of the study was to determine if the cognitive characteristics of a manager affect his perceptions of what information is important to performing his job role. The cognitive characteristic selected for investigation in this study was the level of an individual's intolerance of ambiguity. Its selection was motivated by the fact that it is conceptually related to both dogmatism and integrative complexity, which were the cognitive variables employed in the psychological studies of information processing cited above, and also is a variable of potential significance to accountants in its own right.

Reviews the book "Probability and Statistics in Engineering and Management Science," by William W. Hines and Douglas C. Montgomery.