Economic theory

In 1877 Arthur M. Wellington, in his book The Economic Theory of the Location of Railroads, published a famous definition of engineering (Petroski, 1995) ... 

Ruegg, R. T., and Marshall, II. E. (1990). Building Economics Theory and Practice. New York Van Nostrand Remhold. 

Stoft, S. Eto, J. and Kitom M. 1995. DSM Shareholder Incentives Current Designs and Economic Theory. LBL-38059. Berkeley, CA Lawrence Berkeley National Laboratory. 

The production of welfare approach assumes that the final outcomes of a mental health-care intervention will be influenced ( produced ) by the nature of the services provided, the types, levels and mixes of resources employed, the social environment of the care setting and other non-resource factors. This core theme of the production of welfare model is obviously not built up from economic theory as such, but it is a logical corollary of theory and evidence from psychology, psychiatry and certain other disciplines. However, the formalization of the links between intervention characteristics, resource inputs and patient and family outcomes owes much to economic theories of cost and production relations and their... 

The simplest economic theories assume— somewhat unrealistically—that markets work sufficiendy well to ensure that society s scarce resources are allocated efficiendy. Of course, few markets are as well-behaved as in the elementary textbook, but nevertheless market forces can often be relied upon to allocate goods and services reasonably well between competing demands. If this is the case, then the need for economic evaluation of the costs and outcomes flowing from alternative uses of scarce resources is lessened. Mental health-care services in Britain are purchased and provided within internal markets (quasi-markets) within the state sector (mainly), and these muted market forces have clearly had some influence over allocations. Market forces have a more overt role in countries such as the USA, strongly influencing who obtains what service and at what cost to different parties. However, it is difficult to imagine circumstances in which techniques such as... 

In addition, global warming is characterized by other important features that imply some difficulties in the implementation of the instruments provided by the standard economic theory of policy choice. First, we cannot determine with certainty both the dimension and the timing of climate change and the costs of the abatement of emissions. Second, the effects of GHG concentration in the atmosphere on climate are intergenerational and persistent across... 

Background Economic Theory Related to External Effects. Ill... 

In the standard neoclassical economic theory, individuals are following a utilitarian ethical norm and are making decisions as if they are economically rational. 

Plant, A. (1934), The economic theory concerning patents for inventions , Economic NS, 1, 30-51, reprinted in A. Plant (1974), Selected Economic Essays and Addresses, London Routledge Kegan Paul, pp. 35-56. 

The implication of economic theory for price regulation is clear in this case policies that tend to force international prices to converge (price regulation based on comparisons between countries or parallel imports) are hkely to reduce welfare in the long run. The level of R D that can be financed would be lower with uniform prices than with Ramsey prices.613... 

Economic theory on price regulation in public services with market power considers two alternatives (RORR) and price-cap regulation (PCR). The following two sections of this chapter deal with the advantages and disadvantages of these two forms of regulation as applied to the pharmaceutical sector.14... 

J. Darba Coll Full lecturer, Department of Economic Theory, University of Barcelona... 

Baumol, W. J. Economic Theory and Operations Analysis, 3rd ed. Prentice Hall, Englewood Cliffs, New Jersey (1972). 

From the viewpoint of economic theory, the factors of production— i.e. raw materials, labour, knowledge and capital goods—provide services which increase the value of a product X relative to the cost per unit of intermediate goods used up in the production of X. 

Depending on the market constellations, market participants can dominate sales price and quantity decisions in micro-economic theory. Relationships between and price and quantity in the market constellations are reflected by price-quantity functions as shown in fig. 10 (N.N. 2006d). 

This analysis draws on a wide range of economic theory, both within the Marxian economic tradition and further a field in the traditions of Keynes, Kalecki, Domar, Sraffa and Leontief. In the same way that Marx was open to the whole corpus of classical economics in the nineteenth century, this book has as its aim the incorporation of various strands of economic thought in an attempt to understand and clarify the structure of the reproduction schema. 

At the other extreme, there is the danger that all mention of value as labour embodied is written out of economic theory. Steedman (1981 15) has argued that Marxists, in avoiding the use of embodied labour, are in danger of draining it of all content . The problem is that without labour... 

The purpose of this chapter is to review particular aspects of these two interpretations of the reproduction schema in the light of the macro monetary model developed in previous chapters. How do these interpretations relate to our emphasis in the reproduction schema upon the importance of money, credit and the multiplier And what is the distinctive contribution of the macro monetary model relative to these golden age interpretations By re-interpreting these approaches through the lens of our macro monetary model, the objective is to explore in more depth the role of the reproduction schema in Marxian economic theory. 

Understanding Capital Marx s Economic Theory, Cambridge, MA ... 

Laibman, D. (1992) Value, Technical Change and Crisis Explorations in Marxist Economic Theory, New York M.E. Sharpe. 

Mandel, E. (1962) Marxist Economic Theory, London Merlin Press. 

It can play one of two roles. First, as an end in itself or as an alternative or adjunct to profitability and shareholder equity, or, second, as an intermediate objective leading to one of these more fundamental outcomes. If we examine the first of these alternatives we see a range of theories that have subordinated profitability to other variables as primary outcomes. For example, research in the economic theory of commercial banking modifies the basic economic goal of profitability to include a superordinate need for liquidity (Cooper, 1949), and Margolis (1958) argues that the context of uncertainty in which business activities are conducted will lead so-called deliberative firms to utilize criteria that they believe will lead to profitability in this... 

Casson, M. 1982. The Entrepreneur An Economic Theory. Totowa, NJ Barnes Noble. 

Fishman, A. Rob, R. 2003. Consumer inertia, firm growth and industry dynamics./oMrtw/ of Economic Theory, 109 24-38. 

If the economist s question is asked, it is often assumed that it is unlikely that organic farming as a fixed system coincides in respect to environmental performance with the aspiration level of society for each indicator (Alvensleben 1998). This point of view follows the Tinbergen rule of economic theory that tells us that the number of policy instruments chosen should at least equal to the number of targets set (Ahrens and Lippert 1994, Henrichsmeyer and Witzke 1994). This is theoretically sound if the following prerequisites are given ... 

In their essential book on the gold standard, Maria Cristina Marcuzzo and Annalisa Rosselli show that David Ricardo s contribution to economic theory was distinguishing between variation in the value of money and variation in price. In Ricardo s time, the Bank of England issued handwritten... 

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