Econometrica Vol. 6 No. 1 1938
Pure Economics as a Stochastical Theory
Abstract
THE CLASSICAL THEORY CONSIDER TWO commodities, (0) and (1), the first being denoted as money, and the other being for the sake of representation identified with a certain kind of bills, say payable 20 years hence. By a possible contract (x, y), we shall mean that A buys the amount x of bills from B, paying for it in money y units, the price being p = y/x. In the special case which we shall use as an illustration, we may put
- DOI
- 10.2307/1910083
- Volume
- 6
- Issue
- 1
- Pages
- 40
- Sources
- openalex crossref