Journal of Economic Studies: Volume 4 Issue 1

THE LOGIC OF SCIENTIFIC METHOD IN ECONOMICS

JEREMY BRAY

Keynes' criticisms of Tinbergen's pioneering econometric work are traced back to Keynes' concept of “inductive probability logic”. Induction had already been rejected by Popper as…

THE ILLYRIAN FIRM AND FELLNER'S UNION‐MANAGEMENT MODEL

PETER J. LAW

There is now a considerable literature on the Illyrian firm (that is, the firm which is assumed to maximise income per worker), and it has been argued that the analysis may have…

DISCONTINUITY PROBLEMS IN A GENERALIZED PRICE LEADERSHIP MODEL

GAVIN C. REID

1. Introduction There exists substantial evidence that price leadership is a common form of market structure. By contrast, theoretical treatments of this phenomenon are rare. This…

DOMESTIC AND FOREIGN COMPETITION AND THE DEGREE OF MONOPOLY — A NOTE

T. HITIRIS

It is often stated that profits, which in the long‐run and under perfect competition are supposed by theory to be approaching the “normal rate”, reflect by their observed…

ALTERNATIVE MEASURES OF AGGREGATE EXCESS LABOR DEMAND

WILLIAM S. REECE

I. Introduction In a recent issue of this Journal, G. Briscoe and D.A. Peel present novel estimates of the relationship between aggregate excess labor demand and the rate of…

A REJOINDER ON ALTERNATIVE MEASURES OF EXCESS DEMAND

G. BRISCOE, D.A. PEEL

W.S. Reece (5) has commented on our recent study in this Journal (2) in which we attempted to compare a more comprehensive measure of excess demand for labour in the UK…

MARKET EFFICIENCY: THE ROLE OF ISSUING HOUSES

R. BUCKLAND, K.A. YEOMANS

Introduction In a recent article in this Journal Newbould, Stray and Wilson (1976) analysed the discounts or premiums on the price of newly issued equities by reference to the…

MARKET EFFICIENCY AND THE ROLE OF ISSUING HOUSES: A REJOINDER

K.W. WILSON, S.J. STRAY

In response to the paper by Buckland and Yeomans in this issue, we would make the following points.

THE LEADING SECTOR DEVELOPMENT STRATEGY: A REPLY TO PROFESSOR CURRIE

JAMES A. HANSON

Professor Currie's Comment not only strengthens his already well‐known leading sector strategy of development; it also raises some further interesting questions regarding the…