Pub. in Review of Economic Studies (Scotland) v31 n1 p25-42 1964 (Copies available only to DDC users).

Journal Article The Definition of Selling Costs Get access E. H. Chamberlin E. H. Chamberlin Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 31, Issue 1, January 1964, Pages 59–64, https://doi.org/10.2307/2295935 Published: 01 January 1964

Introduction, 208. — Price policy, 1950–53, 209. — Introduction of compulsory quotas, 1954–55, 216. — Centralization through cooperatives, 1956–57, 219. — Communes and anarchy, 1958–59, 227. — Revisions, 1960–62, 232. — Centralization versus decentralization, 235.

Introduction, 457. — I. Elasticity of expectations and empirical and policy implications of the expectations hypothesis, 459. — II. A simplified elastic expectations model, 462; the model, 462; an empirical estimate of responsiveness of expected rates to current short rates, 463. — III. Effects of a swapping operation on the yield curve, 469.

THEORIES of monetary and financial markets are generally concerned with the behavior of broad aggregates. As yet, economists have not successfully blended the rich variety of institutional details that make up the financial markets with the theory of relative prices. Perhaps as a result of our procedures and the state of knowledge, our policy recommendations are often suggestions for pervasive changes in institutional arrangements. Many of our perennial policy debates are concerned with issues such as whether or not the Federal Reserve should be replaced by an immutable rule or whether banks should be prevented from independently creating money

Introduction, 511. — Income growth and distribution, 513. — The incidence of poverty and its changes, 514. — Measuring the poverty curve, 515. — Subgroup poverty curves, 517. — Poverty status of population subgroups, 1959, 519. — The elasticity of subgroup incomes with respect to economic growth, 521. — Conclusions, 523.

The article informs that much of the accounting data used in management control and administrative decision making is a product of antecedent processes of cost allocation and expense distribution. Both of these operations assume the validity of cost divisibility and recombination. Existing practices of accountants in allocating costs and expenses to relevant production orders, products, processes and/or departments would appear to confirm the general acceptability of such an assumption. Effective cost control depends upon an identification of costs with responsibility centers, and the calculation of unit costs is especially important in measuring product or process profitability. In the analysis of costs, an important first problem which confronts the accountant is the measurement of benefits to be derived from the cost or expense elements which are not dearly identifiable with specific departments or cost centers. The reliability of successive allocations necessarily rests upon this first, basic determination. Once the interdepartmental relationships, or associations, are established quantitatively, there remains a second problem of arithmetically distributing costs in the previously established allocation ratios.

Education is presently set in an environment that is curiously paradoxical in nature. Curricula which give appropriate emphasis to the multivariate character of business problems should not be circumscribed unduly, yet, an overexposure to the myriad of complex influences which compound the difficulty of problem solution may well create for the average student a greater measure of confusion than resolution. Educators have long recognized this phenomenon and have increasingly sought to provide the student with an atmosphere of business and to develop in him an appreciation of the relevance of his field of special interest. This belief in the importance of relating the various business stimuli and the collateral disciplines in a climate which focuses attention on the practical problems of decision-making has resulted in a number of significant educational innovations. In general, they are all essentially variants of two basic concepts namely interim work experience programs and scale simulation, in the classroom, of the interaction of the various business influences.