James L. Bicksler, World, National, and Industry Factors in Equity Returns: Discussion, The Journal of Finance, Vol. 29, No. 2, Papers and Proceedings of the Thirty-Second Annual Meeting of the American Finance Association, New York, New York, December 28-30, 1973 (May, 1974), pp. 395-398

William L. White, Debt Management and the Form of Business Financing, The Journal of Finance, Vol. 29, No. 2, Papers and Proceedings of the Thirty-Second Annual Meeting of the American Finance Association, New York, New York, December 28-30, 1973 (May, 1974), pp. 565-577

[This paper presents a method for obtaining the large sample distribution of the mean deviation and related measures of income inequality.]

An infinite horizon consumption model is considered where the labor part of income is random. An upper bound on optimal consumption is obtained by considering the expected value of the optimal return function in the deterministic labor income case. This upper bound on consumption is easily shown to be lower than the value of optimal consumption in the case where the random labor income is replaced by its mean.

Journal Article Advertising and the Theory of Consumer Choice Get access D. A. L. Auld D. A. L. Auld University of Guelph Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 88, Issue 3, August 1974, Pages 480–487, https://doi.org/10.2307/1881946 Published: 01 August 1974

Abstract This article reports that any set of business accounting statements implies a redundant set of linear equations that specifies the interactions in that business. That is, from a set of accounting statements, one can construct a system of linear equations. In order to understand the underlying business, it appears useful to construct that linear system to specify relations that make the system one of full rank, and to solve it. Management can be expected to learn about the number of degrees of freedom it has in setting goals or parameters for its business, or financial statements, the relations between various possible sets of independent decisions, and the effects of possible future actions. Economists have prepared a series of interactive computer programs that will facilitate the kind of analysis about to be described. These flows show the Gross National Product for the U.S. economy for 1972. These data have been condensed from more detailed national income accounts. Implied by the data underlying these statements are a flow of funds and a system of equations.