Journal Article A Symposium on Monetary Theory: Monetary and Value Theory: Further Comment Get access G. C. Archibald, G. C. Archibald London Search for other works by this author on: Oxford Academic Google Scholar R. C. Lipsey R. C. Lipsey London Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 28, Issue 1, October 1960, Pages 50–56, https://doi.org/10.2307/2296250 Published: 01 October 1960

This paper investigates Bohm-Bawerk's idea of a preference for advancing the timing of future satisfactions from a somewhat different point of view. It is shown that simple postulates about the utility function of a consumption program for an infinite future logically imply impatience at least for certain broad classes of programs. The postulates assert continuity, sensitivity, stationarity of the utility function, the absence of intertemporal complementarity, and the existence of a best and a worst program. The more technical parts of the proof are set off in starred sections.

Reviews the book "Accounting for Oil and Gas Producers," by C. Aubrey Smith and Horace R. Brock.

Journal Article Mill and the Law of Markets: Comment Get access Laurence C. Hunter Laurence C. Hunter University of Manchester Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 74, Issue 1, February 1960, Pages 158–162, https://doi.org/10.2307/1884140 Published: 01 February 1960

Discussion on two early papers of Professor Kantorovich, from 1939 and 1949, that proved to be remarkable documents in the history of management science, of linear programming, and of economic theory in general. The 1949 paper discusses transportation models for a single commodity and for many commodities (including empty vehicles), and a single-commodity model for a capacitated network, with applications to sections of the Russian railroad network. All problems considered in the 1939 paper reprinted in this issue are what would now be called linear programming problems. The coefficient matrices of the problems labeled “A” and “B” exhibit special structures somewhat similar to that of the transportation problem matrix. Problem “C,” while appearing still to have a somewhat special structure, is in fact equivalent to the general linear programming problem.