William R. Russell, Tae Kun Seo; Ordering Uncertain Prospects: The Multivariate Utility Functions Case, The Review of Economic Studies, Volume 45, Issue 3,

Journal Article Towards a General Comparison of Price Controls and Quantity Controls under Uncertainty Get access Gary W. Yohe Gary W. Yohe Wesleyan University, Connecticut Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 45, Issue 2, June 1978, Pages 229–238, https://doi.org/10.2307/2297337 Published: 01 June 1978 Article history Received: 01 January 1976 Accepted: 01 February 1977 Published: 01 June 1978

This paper deals with a class of models of the demand for money that includes the Baumol-Tobin and other inventory-theoretic models as special cases. Among other things, the analysis shows that many supposedly robust comparative-statics propositions derived by earlier writers do not survive even modest generalization. More generally, the results of the paper strongly reinforce other recent research in indicating the need for a wholesale reconstruction of the microfoundations of contemporary monetary theory.

This paper is an analysis of the effects of anticipations of government sales policies on the real price of gold. Although the risk of a future government gold auction depresses the price, it also causes the price to rise in percentage terms faster than the real rate of interest and at an increasing rate. Even risk-neutral investors require this rate of return as inducement to hold gold in the face of the asymmetric risk of a price collapse. Announcements making a government auction more probable cause a sudden drop in the price. Government attempts to peg the price or to defend a price ceiling with sales from its stockpile must result eventually in a sudden attack by speculators.

This paper deals with a class of models of the demand for money that includes the Baumol-Tobin and other inventory-theoretic models as special cases. Among other things, the analysis shows that many supposedly robust comparative-statics propositions derived by earlier writers do not survive even modest generalization. More generally, the results of the paper strongly reinforce other recent research in indicating the need for a wholesale reconstruction of the microfoundations of contemporary monetary theory.

Abstract ABSTRACT: This study was concerned with Graduate-Level Public Sector Accounting Education (GLPSA) in the United States. A survey was conducted of the 123 graduate MBA programs currently accredited by the American Assembly of Collegiate Schools of Business, with 81 responses (65.8 percent received. From the responses, it was determined that 11 schools currently offer a GLPSA course, while an additional 40 schools are planning such a course for offering within the next five years. Various reasons were suggested by the 70 institutions currently not offering a GLPSA course such as a lack of resources, inadequate student and faculty interest, and low employment opportunities. Schools currently offering a GLPSA course were requested to return a copy of the course syllabus. Analysis of the 11 syllabi received revealed that most of the courses presently offered consider primarily financial accounting and reporting issues related to such public sector entities as municipalities, hospitals, colleges and universities, etc. Although most courses did consider such issues as budgeting and managerial control, the time devoted to these topics generally was limited to a small portion of the course.

Abstract ABSTRACT: This article examines the effects of alternative planning models and accounting variance analysis techniques on a firm's profit and sales performance. Two multiple objective product-mix models, a satisficing goal programming model and an optimizing multiple objective linear programming model, are developed within an uncertain demand situation. Two accounting control systems, a traditional standard cost variance analysis and an ex post variance analysis, are also investigated. A computer simulation experiment is conducted, and F-tests, as well as a multiple-ranking procedure, are used to analyze the simulated results. The simulation results show that profit and sales under multiple objective linear programming are higher than those under goal programming. When comparing ex post variance analysis with traditional variance analysis, the former results in hgher sales, but there is no significant difference in profits. Possible reasons for this is explored and a sensitivity analysis was conducted.

Abstract Reviews the book "Forecasting Methods for Management," 2nd ed., by Steven C. Wheelwright and Spyros Makridakis.

Abstract Reviews the books "Zero-Base Budgeting Comes of Age," by Logan M. Cheek and "Zero-Base Planning and Budgeting: Improved Cost Control and Resource Allocation," by Paul J. Stonich.

Abstract Reviews the books "CPA Review: Theory, Practice, Auditing," and "CPA Review: Problems and Solutions," by David F. Fetyko and Elwyn L. Christensen.