Capital Budgeting, Resource allocation, Opportunity costs, Programming

Accounting history, Public accounting

Journal Article Embodied Technical Change and the Existence of an Aggregate Capital Stock Get access Franklin M. Fisher Franklin M. Fisher M. I. T. Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 32, Issue 4, October 1965, Pages 263–288, https://doi.org/10.2307/2295835 Published: 01 October 1965

Journal Article Size and The Growth of Firms Get access J. M. Samuels J. M. Samuels University of Birmingham Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 32, Issue 2, April 1965, Pages 105–112, https://doi.org/10.2307/2296055 Published: 01 April 1965

Journal Article On the Goals of the Firm: Comment Get access Franklin M. Fisher Franklin M. Fisher Massachusetts Institute of Technology Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 79, Issue 3, August 1965, Pages 500–503, https://doi.org/10.2307/1882714 Published: 01 August 1965

THE OBSERVATION that large disparity in the variances of the disturbances from different structural equations in a simultaneous system can aid identification is as old as the discovery of the identification problem itself. Thus, in the classic example of E. J. Working [10], it is observed that whereas in the Marshallian cross neither the supply nor the demand curve is identified, this is not the case if one of the curves shifts about a great deal relative to the other. If such shifts do occur, then the relatively stable relationship is approximately traced out by the equilibrium points of intersection. This can, of course, be taken as an early statement of the fact that if one of the equations contains a shifting variable not in the other, the latter equation will be identified by the usual rank condition criterion;2 however, it is clear that even if there is no such explicit variable and all shifts come from the disturbance terms, something is still gained towards the identification of the relatively stable relationship. In other words, the example can be read as implying that information on the variances of the disturbance terms of a multiple equation system can be used for identification of the equation with the smallest disturbance variance.