Technical Changes and the Rate of Profit in Models with Joint Production and Externalities: A Duality Approach

This paper generalizes a result due to Okishio: the rate of profit increases as a result of cost reducing technical changes. The generalization is carried out first in a model of joint production which allows for new processes and commodities to be introduced or some of the old ones to be discarded. Then we consider nonlinear models incorporating external and internal (dis)economies     

Reducing uninformed responses: The effects of product‐class familiarity and measuring brand knowledge on surveys

Consumers often give answers to survey questions about which they are uninformed. Although research has documented this phenomenon and examined the conditions under which it occurs, the current research project is the first to examine how survey researchers might reduce uninformed response bias through the use of additional questions added to surveys that measure knowledge of brands for which consumers might be uninformed. In the current study, adding brand knowledge questions pertaining to an unknown (fictitious) brand reduced the likelihood of respondents providing uninformed responses when later asked to evaluate that brand. However, the effects of asking for brand familiarity on uninformed response rates differed by consumers' level of product‐class familiarity and the relative placement of the brand knowledge and brand attitude questions on the survey. Brand knowledge questions can suggest the existence of brands, placing them within a knowledge schema, thus leading to more uninformed responses from consumers low in product‐class familiarity. These results, coupled with recent other research findings suggest that researchers must consider the effects of related knowledge on what have been previously considered completely uninformed responses. © 2007 Wiley Periodicals, Inc.     

Nixon’s desperate attempt to fight inflation

Because of continuing Inflation and rising unemployment, Americans were beginning to feel rather frustrated with the Nlxon Administration for their non-actions on the economic front. As an answer to this growing feeling of anxiety the US-President introduced an economic programme which has caused quite a stir in the USA as well as abroad. The author’s intent is to discuss the national and International effects the Nlxon programme will probably have.