Editorial

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Editorial

     

Errata

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Errata

     

Buchbesprechungen

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Book reviews

     

In memoriam Alexander Mahr

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In memoriam Alexander Mahr

     

In memoriam Ludwig Mises

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In memoriam Ludwig Mises

     

In memoriam Richard Schüller (1870–1972)

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In memoriam Richard Schüller (1870–1972)

     

Adolf Kozlik † (1912–1964)

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Adolf Kozlik (1912–1964)

     

Franz Redl † (1921–1965)

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Franz Redl (1921–1965)

     

Mathematische Programmierung und ihre Anwendung auf die Wirtschaft

Zusammenfassung Wir betrachten hier die Anwendung deterministischer und stochastischer Methoden auf Probleme der Wirtschaftswissenschaften. Verschiedene Versionen des deterministischen Programmierens (h. h. Fälle in denen keine zufälligen Variablen auftreten) werden zuerst behandelt. Wenn die Parameter der verschiedenen Versionen des deterministischen Programmierens zufällige Variable sind, haben wir stochastische Programme. Schließlich befaßt sich der letzte Abschnitt mit den Algorithmen für die Berechnung der Lösungen.

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On the application of deterministic and stochastic programming methods to problems of economics

We consider here the application of deterministic and stochastic programming methods to problems of economics. Various versions of deterministic programming (i. e. cases in which there are no random variables) are treated first. If the parameters of the various forms of deterministic programming are random variables, we obtain stochastic programming. In the last paragraph we concern ourselves with algorithms for the calculation of solutions.

     

Indexbindung von Einkommen und progressive Besteuerung

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Index-linking of incomes and progressive taxation

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Für Diskussionen über eine vorläufige Fassung dieser Arbeit danke ich meinen Kollegen Otwin Becker, Bernd Genser und Christian Seidl. Es muß nicht separat betont werden, daß etwa verbliebene Fehler ganz zu meinen Lasten gehen.     

Der Einfluß von Einkommens-, Zinssatz- und Inflationserwartungen auf die Geldnachfrage in der Bundesrepublik Deutschland

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Expectations with respect to income, rate of interest and inflation and their impact on the demand for money in the FRG

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Die Arbeit entstand mit finanzieller Unterstützung der Australischen Notenbank sowie der School of Economic and Financial Studies der Macquarie University. Frau Janice Houghton, B. A., verdanken wir wertvolle Forschungsunterstützung.     

Technological progress and regress in pre-industrial times

This paper offers micro-foundations for the dynamic relationship between technology and population in the pre-industrial world, accounting for both technological progress and the hitherto neglected but common phenomenon of technological regress. A positive feedback between population and the adoption of new techniques that increase the division of labor explains technological progress. A transient shock to productivity or population induces the neglect of some techniques rendered temporarily unprofitable, which are therefore not transmitted to the next generation. Productivity remains constrained by the smaller stock of knowledge and technology has thereby regressed. A slow process of rediscovery is required for the economy to reach its previous level of technological sophistication and population size. The model is employed to analyze specific historical examples of technological regress.

Jared Diamond, Ten Thousand Years of Solitude, 1993.

     

A representation of consistent binary relations

We give sufficient conditions for the existence of a numerical representation which is equivalent to consistency as defined by Suzumura (Economica 43:381–390).      

Budgetdefizit und Leistungsbilanzsaldo: Ein weiterer Kommentar

Summary In this comment we point out that a consistent policy cannot rely solely on the instrument of demand management to attain internal and external stability simultaneously.     

策略性产品投放市场研究方法

This paper proposes a method to analyze how the manufacturers make product launch decisions in a multi-product oligopoly market, and how the heterogeneity in their products affects the manufacturers’ decisions on model launch and withdrawal.      

Existence of solutions in continuous-time optimal growth models

This paper studies the existence of solutions in continuous time optimization problems. It provides a theorem whose conditions can be easily checked in most models of the optimal growth theory, including those with increasing returns and multi-sector economies.      

Foundations for contest success functions

In the literature, the outcome of contests is either interpreted as win probabilities or as shares of the prize. With this in mind, we examine two approaches to contest success functions (CSFs). In the first, we analyze the implications of contestants’ incomplete information concerning the ‘type’ of the contest administrator. While in the case of two contestants this approach can rationalize prominent CSFs, we show that it runs into difficulties when there are more agents. Our second approach interprets CSFs as sharing rules and establishes a connection to bargaining and claims problems which is independent of the number of contestants. Both approaches provide foundations for popular CSFs and guidelines for the definition of new ones.

“The strategic approach also seeks to combine axiomatic cooperative solutions and non-cooperative solutions. Roger Myerson recently named this task the ‘Nash program’.”(Rubinstein 1985, p. 1151)

     

On the dynamics of a three-sector growth model

Uzawa’s two-sector growth model is extended into a three-sector model, where the labor growth rate is variable and bounded over time. The solution of this economic system is determined, as well as its long-run growth and asymptotic stability are investigated.      

Wage,labour mobility and working time effects of profit sharing

This study presents empirical tests of a number of labour market hypotheses related to profit sharing using individual-level data from the German Socio-Economic Panel. It examines questions of differing wage, mobility (inter-and intra-firm) and working time responses under profit sharing as compared to conventional compensation arrangements.

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Zusammenfassung Auf Basis der Daten des deutschen Sozio-ökonomischen Panels werden verschiedene Hypothesen über Wirkungen der Gewinnbeteiligung auf dem Arbeitsmarkt getestet. Im einzelnen geht es um Fragen der Lohndifferenzierung, der inner- und zwischenbetrieblichen Mobilität sowie der Arbeitszeit. Es wird untersucht, ob und in welchem Umfang Effekte von der Gewinnbeteiligung ausgehen.

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We thank anonymous referees for helpful comments.     

Unanimous subjective probabilities

This note shows that if the space of events is sufficiently rich and the subjective probability function of each individual is non-atomic, then there is a σ-algebra of events over which everyone will have the same probability function, and moreover, the range of this common probability is the entire unit interval.