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Author : Burnham Putnam Beckwith
Publisher :
ISBN 13 :
Total Pages : 304 pages
Book Rating : 4.3/5 (91 download)
Download or read book Marginal-cost Price-output Control written by Burnham Putnam Beckwith and published by . This book was released on 1955 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jeremy Rifkin
Publisher : Macmillan + ORM
ISBN 13 : 1137437766
Total Pages : 344 pages
Book Rating : 4.1/5 (374 download)
Download or read book The Zero Marginal Cost Society written by Jeremy Rifkin and published by Macmillan + ORM. This book was released on 2014-04-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Zero Marginal Cost Society,New York Times bestselling author Jeremy Rifkin describes how the emerging Internet of Things is speeding us to an era of nearly free goods and services, precipitating the meteoric rise of a global Collaborative Commons and the eclipse of capitalism. Rifkin uncovers a paradox at the heart of capitalism that has propelled it to greatness but is now taking it to its death—the inherent entrepreneurial dynamism of competitive markets that drives productivity up and marginal costs down, enabling businesses to reduce the price of their goods and services in order to win over consumers and market share. (Marginal cost is the cost of producing additional units of a good or service, if fixed costs are not counted.) While economists have always welcomed a reduction in marginal cost, they never anticipated the possibility of a technological revolution that might bring marginal costs to near zero, making goods and services priceless, nearly free, and abundant, and no longer subject to market forces. Now, a formidable new technology infrastructure—the Internet of things (IoT)—is emerging with the potential of pushing large segments of economic life to near zero marginal cost in the years ahead. Rifkin describes how the Communication Internet is converging with a nascent Energy Internet and Logistics Internet to create a new technology platform that connects everything and everyone. Billions of sensors are being attached to natural resources, production lines, the electricity grid, logistics networks, recycling flows, and implanted in homes, offices, stores, vehicles, and even human beings, feeding Big Data into an IoT global neural network. Prosumers can connect to the network and use Big Data, analytics, and algorithms to accelerate efficiency, dramatically increase productivity, and lower the marginal cost of producing and sharing a wide range of products and services to near zero, just like they now do with information goods. The plummeting of marginal costs is spawning a hybrid economy—part capitalist market and part Collaborative Commons—with far reaching implications for society, according to Rifkin. Hundreds of millions of people are already transferring parts of their economic lives to the global Collaborative Commons. Prosumers are plugging into the fledgling IoT and making and sharing their own information, entertainment, green energy, and 3D-printed products at near zero marginal cost. They are also sharing cars, homes, clothes and other items via social media sites, rentals, redistribution clubs, and cooperatives at low or near zero marginal cost. Students are enrolling in free massive open online courses (MOOCs) that operate at near zero marginal cost. Social entrepreneurs are even bypassing the banking establishment and using crowdfunding to finance startup businesses as well as creating alternative currencies in the fledgling sharing economy. In this new world, social capital is as important as financial capital, access trumps ownership, sustainability supersedes consumerism, cooperation ousts competition, and "exchange value" in the capitalist marketplace is increasingly replaced by "sharable value" on the Collaborative Commons. Rifkin concludes that capitalism will remain with us, albeit in an increasingly streamlined role, primarily as an aggregator of network services and solutions, allowing it to flourish as a powerful niche player in the coming era. We are, however, says Rifkin, entering a world beyond markets where we are learning how to live together in an increasingly interdependent global Collaborative Commons.
Author : Robert Ernest Hall
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.3/5 (9 download)
Download or read book The Relation Between Price and Marginal Cost in U.S. Industry written by Robert Ernest Hall and published by . This book was released on 1986 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: An examination of data on labor input and the quantity of output reveals that most U.S. industries have marginal costs far below their prices. The corilusion rests on the empirical finding that cyclical variations in labor input are small compared to variations in output. In booms, firms produce substantially more output and sell it for a price that exceeds the costs of the added inputs. The paper documents the disparity between price and marginal cost, where marginal cost is estimated from variations in cost from one year to the next. It considers a wide variety of explanations of the flndings that are consistent with competition, but none is found to be plausible.
Author : Monica Greer
Publisher : Elsevier
ISBN 13 : 0123854660
Total Pages : 369 pages
Book Rating : 4.1/5 (238 download)
Download or read book Electricity Marginal Cost Pricing written by Monica Greer and published by Elsevier. This book was released on 2012-03-13 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Packed with case studies and practical real-world examples, Electricity Marginal Cost Pricing Principles allows regulators, engineers and energy economists to choose the pricing model that best fits their individual market. Written by an author with 13 years of practical experience, the book begins with a clear and rigorous explanation of the theory of efficient pricing and how it impacts investor-owned, publicly-owned, and cooperatively-owned utilities using tried and true methods such as multiple-output, functional form, and multiproduct cost models. The author then moves on to include self-contained chapters on applying estimating cost models, including a cubic cost specification and policy implications while supplying actual data and examples to allow regulators, energy economists, and engineers to get a feel for the methods with which efficient prices are derived in today’s challenging electricity market. A guide to cost issues surrounding the generation, transmission, and distribution of electricity Clearly explains cost models which can yield the marginal cost of supplying electricity to end-users Real-world examples that are practical, meaningful, and easy to understand Explans the policy implications of each example Provide suggestions to aid in the formation of the optimal market price
Author : Patrick M. Emerson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (123 download)
Download or read book Intermediate Microeconomics written by Patrick M. Emerson and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : F. C. Lawrence
Publisher :
ISBN 13 :
Total Pages : 136 pages
Book Rating : 4.3/5 (512 download)
Download or read book Marginal Costing written by F. C. Lawrence and published by . This book was released on 1947 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kofi Kissi Dompere
Publisher : Springer
ISBN 13 : 3540444408
Total Pages : 412 pages
Book Rating : 4.5/5 (44 download)
Download or read book Cost-Benefit Analysis and the Theory of Fuzzy Decisions written by Kofi Kissi Dompere and published by Springer. This book was released on 2013-03-20 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: The genus of definitions for the theoretical sciences is (the province of) the habitus of the intellective intention, for the practical sciences, however, that of the effective intention; the objects and ends constitute the specific differ ence There is nothing in the intellect that has not already been in the senses, that is, in the sensory organs, that has not already been in sensible things from which are distinguished things not perceptible to the senses. Nothing can be of the mind, sensation and the thing inferred therefrom except the operation itself. Real learning is cognition of things in themselves. It thus has the basis of its certainty in the known thing. This is established in two ways: by demon stration in the case of contemplative things, and by induction in the case of things perceptible to the senses. In contrast with real learning there is pos sible, probable and fictive learning. Antonius Gvilielmus Amo Afer (1827) This research has been long in the making. Its conception began in my last years in the doctoral program at Temple University, Philadelphia, Pa. It was simultaneously conceived with my two books on the Neo Keynesian Theory of Optimal aggregate investment and output dynamics [201] [202] as well as reflections on the methodology of decision-choice rationality and development economics [440] [441]. Economic theories and social policies were viewed to have, among other things, one impor tant thing in common in that they relate to decision making under different.
Author : K. K. Dompere
Publisher : Springer Science & Business Media
ISBN 13 : 9783540221548
Total Pages : 424 pages
Book Rating : 4.2/5 (215 download)
Download or read book Cost-Benefit Analysis and the Theory of Fuzzy Decisions written by K. K. Dompere and published by Springer Science & Business Media. This book was released on 2004-07-02 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph is devoted to the identification and measurement theory of costs and benefits in a fuzzy information environment. The process of cost-benefit analysis is presented, requiring the development of real cost-benefit databases and the construction of cost-benefit criterion. These steps are accomplished with various theoretical constructs that provide sets of self-contained algorithms for application. This book integrates cost-benefit analysis, theory of fuzzy decisions and social decisions into unified decision algorithms accessible to practitioners, researchers, and graduate students. It features the essentials of fuzzy mathematics and algorithms in a comprehensive way, exposing a multi-disciplinary approach for the development of cost-benefit decision making in the framework of fuzziness and soft computing.
Author : Alfred E. Kahn
Publisher : MIT Press
ISBN 13 : 9780262610520
Total Pages : 620 pages
Book Rating : 4.6/5 (15 download)
Download or read book The Economics of Regulation written by Alfred E. Kahn and published by MIT Press. This book was released on 1988-06-22 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Chairman of the Civil Aeronautics Board in the late 1970s, Alfred E. Kahn presided over the deregulation of the airlines and his book, published earlier in that decade, presented the first comprehensive integration of the economic theory and institutional practice of economic regulation. In his lengthy new introduction to this edition Kahn surveys and analyzes the deregulation revolution that has not only swept the airlines but has transformed American public utilities and private industries generally over the past seventeen years. While attitudes toward regulation have changed several times in the intervening years and government regulation has waxed and waned, the question of whether to regulate more or to regulate less is a topic of constant debate, one that The Economics of Regulation addresses incisively. It clearly remains the standard work in the field, a starting point and reference tool for anyone working in regulation.Kahn points out that while dramatic changes have come about in the structurally competitive industries - the airlines, trucking, stock exchange brokerage services, railroads, buses, cable television, oil and natural gas - the consensus about the desirability and necessity for regulated monopoly in public utilities has likewise been dissolving, under the burdens of inflation, fuel crises, and the traumatic experience with nuclear plants. Kahn reviews and assesses the changes in both areas: he is particularly frank in his appraisal of the effect of deregulation on the airlines. His conclusion today mirrors that of his original, seminal work - that different industries need different mixes of institutional arrangements that cannot be decided on the basis of ideology.
Author : NA NA
Publisher : Springer
ISBN 13 : 134900278X
Total Pages : 232 pages
Book Rating : 4.3/5 (49 download)
Download or read book Royal Economic Society Surveys of Economic Theory written by NA NA and published by Springer. This book was released on 2016-03-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Malcolm Pemberton
Publisher : Manchester University Press
ISBN 13 : 1526173522
Total Pages : 1118 pages
Book Rating : 4.5/5 (261 download)
Download or read book Mathematics for economists written by Malcolm Pemberton and published by Manchester University Press. This book was released on 2023-11-10 with total page 1118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a self-contained treatment of all the mathematics needed by undergraduate and masters-level students of economics, econometrics and finance. Building up gently from a very low level, the authors provide a clear, systematic coverage of calculus and matrix algebra. The second half of the book gives a thorough account of probability, dynamics and static and dynamic optimisation. The last four chapters are an accessible introduction to the rigorous mathematical analysis used in graduate-level economics. The emphasis throughout is on intuitive argument and problem-solving. All methods are illustrated by examples, exercises and problems selected from central areas of modern economic analysis. The book's careful arrangement in short chapters enables it to be used in a variety of course formats for students with or without prior knowledge of calculus, for reference and for self-study. The preface to the new edition and full table of contents are available from https://www.manchesterhive.com/page/mathematics-for-economists-supplementary-materials
Author : Robert Burton Ekelund
Publisher : University of Chicago Press
ISBN 13 : 9780226199993
Total Pages : 494 pages
Book Rating : 4.1/5 (999 download)
Download or read book Secret Origins of Modern Microeconomics written by Robert Burton Ekelund and published by University of Chicago Press. This book was released on 1999-03-15 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using documents previously unavailable in English, the authors present a cohesive and original picture of French economic thought that solidly documents the contributions of Dupuit and his colleagues. Ekelund and Hebert build their argument by focusing on the development of economic theory in the peculiar milieu of postrevolutionary France in an attempt to identify the essence of the French contribution and the extent to which the French legacy benefited other economists of international acclaim. They conclude that the kinds of issues in economic theory and policy that Dupuit and his colleagues found arresting and worthy of analysis in the nineteenth century are still pertinent today and will continue to interest economists into the twenty-first century. This seminal work will be of great importance to historians of economics and all economists interested in the foundations of modern microeconomics.
Author : Colander
Publisher : McGraw Hill
ISBN 13 : 1526815001
Total Pages : 1021 pages
Book Rating : 4.5/5 (268 download)
Download or read book Ebook: Economics written by Colander and published by McGraw Hill. This book was released on 2016-09-16 with total page 1021 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ebook: Economics
Author : Maurice Dobb
Publisher : CUP Archive
ISBN 13 : 9780521099370
Total Pages : 288 pages
Book Rating : 4.0/5 (993 download)
Download or read book Welfare Economics and the Economics of Socialism written by Maurice Dobb and published by CUP Archive. This book was released on 1975 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Richard G. Lipsey
Publisher : Oxford University Press, USA
ISBN 13 : 9780297821205
Total Pages : 548 pages
Book Rating : 4.8/5 (212 download)
Download or read book First Principles of Economics written by Richard G. Lipsey and published by Oxford University Press, USA. This book was released on 1992 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to economics for complete beginners
Author : Jill Collis
Publisher : Red Globe Press
ISBN 13 : 0333694074
Total Pages : 0 pages
Book Rating : 4.3/5 (336 download)
Download or read book Cost and Management Accounting written by Jill Collis and published by Red Globe Press. This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of cost and management accounting is to provide managers with information which helps them to control, plan and make decisions. This book covers the basic principles and techniques including methods and procedures. Sample questions from CIMA papers (stages 1
Author : Alan Blinder
Publisher : Russell Sage Foundation
ISBN 13 : 1610440684
Total Pages : 412 pages
Book Rating : 4.6/5 (14 download)
Download or read book Asking About Prices written by Alan Blinder and published by Russell Sage Foundation. This book was released on 1998-01-08 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do consumer prices and wages adjust so slowly to changes in market conditions? The rigidity or stickiness of price setting in business is central to Keynesian economic theory and a key to understanding how monetary policy works, yet economists have made little headway in determining why it occurs. Asking About Prices offers a groundbreaking empirical approach to a puzzle for which theories abound but facts are scarce. Leading economist Alan Blinder, along with co-authors Elie Canetti, David Lebow, and Jeremy B. Rudd, interviewed a national, multi-industry sample of 200 CEOs, company heads, and other corporate price setters to test the validity of twelve prominent theories of price stickiness. Using everyday language and pertinent scenarios, the carefully designed survey asked decisionmakers how prominently these theoretical concerns entered into their own attitudes and thought processes. Do businesses tend to view the costs of changing prices as prohibitive? Do they worry that lower prices will be equated with poorer quality goods? Are firms more likely to try alternate strategies to changing prices, such as warehousing excess inventory or improving their quality of service? To what extent are prices held in place by contractual agreements, or by invisible handshakes? Asking About Prices offers a gold mine of previously unavailable information. It affirms the widespread presence of price stickiness in American industry, and offers the only available guide to such business details as what fraction of goods are sold by fixed price contract, how often transactions involve repeat customers, and how and when firms review their prices. Some results are surprising: contrary to popular wisdom, prices do not increase more easily than they decrease, and firms do not appear to practice anticipatory pricing, even when they can foresee cost increases. Asking About Prices also offers a chapter-by-chapter review of the survey findings for each of the twelve theories of price stickiness. The authors determine which theories are most popular with actual price setters, how practices vary within different business sectors, across firms of different sizes, and so on. They also direct economists' attention toward a rationale for price stickiness that does not stem from conventional theory, namely a strong reluctance by firms to antagonize or inconvenience their customers. By illuminating how company executives actually think about price setting, Asking About Prices provides an elegant model of a valuable new approach to conducting economic research.
