Turnpikes
Article Abstract:
The turnpike theorems can serve as efficient models of optimal capital accumulation and growth. However, these theorems cannot predict the actual outcomes like those of natural sciences. Moreover, the accuracy is refined in the natural sciences mainly because of the controlled environment of the laboratory or in the industry. The Samuelson turnpike was to be the path of most fast balanced growth of the capital stock. The Ramsey turnpike on the other hand says that a the level of capital accumulation reached at a saturation point , a Golden Age or a modified Golden Age.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Auctions versus posted-price selling
Article Abstract:
A private-values model is used to describe the selling techniques of auctions and posted-price selling. Comparisons of the prices of the social optimum and the monopoly seller are provided. The global steepness of the marginal-revenue curve related to the buyer valuation distribution affects the type of sales technique that is used. A uniformly steeper marginal-revenue curve makes auctions more preferable to sellers, even if auctioning is expensive.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
An Economic Model of Welfare Stigma
Article Abstract:
The effects of welfare stigma on consumer choice to participate in welfare programs are modeled. A heterogeneity in the population exists in the degree of distaste for welfare. The amount of benefit to be derived is inconsequential.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1983
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: The optimal auction : a mechanism for optimal third-degree price discrimination. Uncertain contestability
- Abstracts: The functional problems of the agro-industrial complex and ways of solving them. The new course of agrarian policy
- Abstracts: No Other Gods but Mrs. T. Britain, the Hostile Power. A Better Class of Fudge?
- Abstracts: Transitional dynamics and economic growth in the neoclassical model. Financial Structure and Economic Activity
- Abstracts: The Quality of Schooling: Quantity Alone is Misleading. Estimating the effect of mother's schooling on children's schooling using a sample of adoptees