FIXED PREFERENCES AND CHANGING TASTES

The New Soviet Incentive Model

A new reform in the Soviet economy makes the size of the bonus fund depend on the plan target as well as the degree to which it has been fulfilled.By instituting this change, So...

Conglomerate and Vertical Responses to Market Imperfection: Discussion

The General Theory of Employment

I. Comments on the four discussions in the previous issue of points in the General Theory, 209. — II. Certain definite points on which the writer diverges from previous theories...

Rational Expectations and the Theory of Price Movements

In order to explain fairly simply how expectations are formed, we advance the hypothesis that they are essentially the same as the predictions of the relevant economic theory. I...

Uncertain Imitability: An Analysis of Interfirm Differences in Efficiency under Competition

Causal ambiguity inherent in the creation of productive processes is modeled by attaching an irreducible ex ante uncertainty to the level of firm efficiency that is achieved by ...