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Article
Publication date: 1 May 1979

André Gabor and I.F. Pearce

I. Outline of the problem of capital and of the need to reconcile its treatment by Austrian and neo‐classical theorists, as also to establish a link between economics and…

66

Abstract

I. Outline of the problem of capital and of the need to reconcile its treatment by Austrian and neo‐classical theorists, as also to establish a link between economics and accountancy practice. II. Introduction to the concept of the money capital requirement function and the criteria of profit rate maximisation. III. Synthesis of divergent theories by full development of a new generalised money capital requirement function. IV. Comparison of the results here obtained with those of neoclassical theory. V. Summary.

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International Journal of Social Economics, vol. 6 no. 5
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 1 May 1979

André Gabor and I.F. Pearce

If the volume of current writing on the subject can be accepted as evidence, it is clear that economists are becoming increasingly concerned by the fact that business men do not…

101

Abstract

If the volume of current writing on the subject can be accepted as evidence, it is clear that economists are becoming increasingly concerned by the fact that business men do not use or even understand the jargon of marginalism, despite the fact that it would seem to be in their interests to operate their firms according to the rule “marginal costs equals marginal revenue determines optimum output”. Most attempts so far made to explain this phenomenon have followed one or the other of two lines. Either it is argued that the rules of thumb developed by the business man achieve at least approximately the same result as would the strict application of marginal theory, or that short‐period difficulties which are assumed away by the theorist render the operation of the rule impossible or undesirable.

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International Journal of Social Economics, vol. 6 no. 5
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 1 May 1980

Gordon R. Foxall

Introduction Contemporary marketing thought stresses that pricing decisions ought to be made within the context of the firm's entire marketing mix. Price is but one facet of a…

755

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Introduction Contemporary marketing thought stresses that pricing decisions ought to be made within the context of the firm's entire marketing mix. Price is but one facet of a company's appeal to consumers and needs to be fully integrated with the physical product, its package, advertising, promotion, distribution and so on, in such a way as to enable it to complement, support and enhance every other component of the marketing mix. This means, among other things, that prices should be determined by reference to the market, set at levels which consumers are able, willing or can be persuaded to pay. In addition, the price he pays for a product should reinforce the consumer's judgement of its image and quality. Just as, according to the marketing concept, it is the buyer rather than the manager who defines the product and, thereby, the firm's business, so the meaning and level of the price at which the product changes hands should be decided ultimately by the attitudes and behaviour of consumers.

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Management Decision, vol. 18 no. 5
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 1 April 1987

Geoffrey M. Hodgson

Present‐day economics is characterised by the fragmentary and reductionist approach that typifies most social sciences. Economists generally fail to recognise that the economy is…

450

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Present‐day economics is characterised by the fragmentary and reductionist approach that typifies most social sciences. Economists generally fail to recognise that the economy is merely one aspect of a whole ecological and social fabric; a living system composed of human beings in continual interaction with one another and with their natural resources, most of which are, in turn, living organisms. The basic error of the social sciences is to divide this fabric in fragments, assumed to be independent and to be dealt with in separate academic departments (Capra, 1982, pp. 194–5).

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Journal of Economic Studies, vol. 14 no. 4
Type: Research Article
ISSN: 0144-3585

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Publication date: 2 June 2008

Siu-kee Wong

When the factor endowments of two trading countries do not lie in the same diversification cone, trade in commodities may not reduce the international factor return differentials…

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When the factor endowments of two trading countries do not lie in the same diversification cone, trade in commodities may not reduce the international factor return differentials. This chapter specifies some conditions of the demand function in a two-factor, infinite-good model that guarantee partial factor price equalization. The wage-rental ratios of two trading countries are convergent if goods farther apart are poorer substitutes than goods closer together in the factor-intensity ranking. This generalizes the result in the literature, which is usually obtained under the assumption of Cobb–Douglas utility and production functions.

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Contemporary and Emerging Issues in Trade Theory and Policy
Type: Book
ISBN: 978-1-84950-541-3

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Article
Publication date: 1 August 1979

André Gabor

It seems to me that there are two main ways in which the economist can contribute to the solution of the problem which I have been invited to introduce for discussion. First, he…

141

Abstract

It seems to me that there are two main ways in which the economist can contribute to the solution of the problem which I have been invited to introduce for discussion. First, he can help by developing a systematic approach based on a realistic appraisal and analysis of the issues involved. Second, he can develop and test quantitative research methods, designed to produce data on which pricing decisions may be based. I propose to deal with both of them in general terms before I take up the specific issues to which the title of my paper refers and which are basically those of product line pricing and price discrimination.

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Management Decision, vol. 17 no. 8
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 1 August 1979

André Gabor

Synopsis This paper has two purposes, closely connected with one another. The first is to fill a gap by presenting a consistent theory of block tariffs; the second is to dispel…

88

Abstract

Synopsis This paper has two purposes, closely connected with one another. The first is to fill a gap by presenting a consistent theory of block tariffs; the second is to dispel some misconceptions found in the works of standard authors concerning this form of pricing. The main misconceptions here discussed are three in number: first, that the extent to which the consumer's surplus can be exploited depends on the number of blocks; second, that a lower price is necessarily ineffective if it occurs at a quantity which is larger than what the consumer would have bought had the price of the preceding block been valid throughout; and third, that block tariffs may prove inefficient in practice.

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Management Decision, vol. 17 no. 8
Type: Research Article
ISSN: 0025-1747

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Book part
Publication date: 2 July 2004

Abstract

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Functional Structure and Approximation in Econometrics
Type: Book
ISBN: 978-0-44450-861-4

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Book part
Publication date: 2 July 2004

Abstract

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Functional Structure and Approximation in Econometrics
Type: Book
ISBN: 978-0-44450-861-4

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Article
Publication date: 1 August 1979

André Gabor and C.W.J. Granger

Introduction Price is only one of the many elements in the marketing mix which determine the extent of the success or failure of a product, and since in any actual marketing…

453

Abstract

Introduction Price is only one of the many elements in the marketing mix which determine the extent of the success or failure of a product, and since in any actual marketing situation price exerts its influence in combination with all the other factors, it would seem justified to ask whether it is at all reasonable to lift price out of the complex and discuss it by itself.

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Management Decision, vol. 17 no. 8
Type: Research Article
ISSN: 0025-1747

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