Some characterization theorems for generalized measures of uncertainty and information

Summary Some characterization theorems are given for the various generalized measures of information and uncertainty by using two types of functional inequalities. This paper unifies several existing results on the various measures of information and some special cases of interest are mentioned at appropriate places.The work of this paper was done while the author was a visiting postdoctoral fellow with the University of Waterloo. This paper was presented at the Meeting on Information Measures held at the University of Waterloo, Waterloo, Ontario, Canada from April 10–14, 1970.     

The efficiency of interprovincial migration in Canada, 1961-1978

A programming model is used to analyze the impact of the efficiency of migration flows on regional income disparities in Canada. A new method to measure such efficiency is presented in an attempt to show that occupations involving high-level skills and training have efficient migration patterns. The relationship between income differentials and internal migration is discussed.     

Reforming the par-value system

Zusammenfassung Zur Reform des Wechselkurs-Systems. — Der Aufsatz untersucht die Einstellung der Exekutiv-Direktoren des Internationalen W?hrungsfonds zum Wechselkurs-System. Die Direktoren sind der Ansicht, da\ man die W?hrungsparit?ten als ?feste Bezugspunkte? verstehen sollte, die eine heilsame Disziplin für die Aufrechterhaltung der finanziellen Stabilit?t im Inland schaffen. Sie geben zwar zu, da\ ?ungebührlich verz?gerte? Parit?ts?nderungen gef?hrlich sein k?nnen, fürchten aber ?verfrühte? ?nderungen weit mehr, weil diese die monet?re Disziplin schw?chen k?nnten (w?hrend die Disziplin gerade durch das Trauma verz?gerter ?nderungen und W?hrungskrisen angeblich gest?rkt werden würde). Auch fürchten sie bei einem System flexibler Wechselkurse konkurrierende Abwertungen, w?hrend ihnen über- oder Unterbewertungen viel weniger Sorgen machen. Folglich lehnen die Exekutiv-Direktoren das Floating der Wechselkurse, erweiterte Bandbreiten und eine automatische Formel-Flexibilit?t ab. In diesem Aufsatz wird die Ansicht vertreten, da\ diese offizielle Haltung des Fonds zu starr ist und da\ eine gr?\ere Flexibilit?t der Wechselkurse (in der Form eines gleitenden Bandes) in das System eingebaut werden sollte, besonders auch im Hinblick auf die zunehmende Rolle der Sonderziehungsrechte. Die aus einer bedingungslosen Zuwendung von Reserven erwachsende Zunahme der Unabh?ngigkeit der nationalen Wirtschaftspolitik erfordert einen Anpassungsmechanismus, der h?ufige und kleine ?nderungen der Parit?ten vorsieht.

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Résumé Une réforme du système des parités monétaires. — Cet article discute l’attitude des directeurs exécutifs du Fonds Monétaire International en ce qui concerne le système des parités monétaires. Les directeurs sont d’avis qu’il faut comprendre les parités comme des ?points de repère fixes?, qui fournissent une discipline utile pour le maintien d’une stabilité financière à l’intérieur d’un pays. Tout en admettant que des modifications de parité ?ind?ment retardées? peuvent être dangereuses, les directeurs craignent bien plus les modifications ?prématurées?, qui risquent d’affaiblir la discipline monétaire (tandis que celle-ci est jugée être renforcée par la crainte traumatique même des modifications retardées et des crises monétaires). En outre, les directeurs craignent une concurrence de dépréciation des cours des changes sous un régime de taux flexibles, tandis qu’ils se préoccupent bien moins des surou sousévaluations. Par conséquent, ils rejettent le floating des cours des changes, les grandes marges, et l’ajustement automatique des parités au moyen de formules. Cet article explique que l’attitude officielle du Fonds est trop rigide et qu’il faudrait incorporer au système une plus grande flexibilité des cours des changes (en forme d’un glissement), surtout en vue du rêle toujours augmentant des droits spéciaux de tirage. L’indépendance accrue des politiques économiques nationales, qui résulte de l’allocation sans conditions de réserves, demande un mécanisme d’ajustement basé sur de petites et fréquentes modifications des parités.

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Resumen La reforma del sistema de paridad cambiaria. — En el artículo se discute la actidud de los directores ejecutivos del Fondo Monetario International con respecto al sistema de paridad cambiaria. Los directores ejecutivos sugieren que se utilicen las paridades como puntos fijos de referencia, de manera que se disponga de una marco de orientación para mantener la estabilidad financiera interior. No cabe duda de que demoras excesivas en los reajustes cambiarios pueden ser peligrosos, pero los directores temen mucho más reajustes prematuros, los cuales debilitarían la disciplina monetaria. Además, temen que surj an devaluaciones competitivas bajo un régimen de tipos de cambio flexibles, mientras que se ocupan mucho menos del problema de sobre y subvaluaciones. En consecuencia, los directores ejecutivos rechazan tipos de cambio flotantes, márgenes de variación cambiaria amplios y reajustes automáticos de la paridad de acuerdo con una fórmula determinada. El autor mantiene que esta actidud oficial del Fonto es demasiado rígida y que se debería introducir en el sistema una mayor flexibilidad de los tipos de cambio (en forma de una ?banda? móvil), particularmente en vista de la importancia creciente de los derechos especiales de giro. La mayor independencia de las políticas económicas nacionales, que resulta de asignaciones incondicionadas de réservas, requière un mecanismo de ajuste que se basa en variaciones frequentes y peque?as de la paridad.

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Riassunto Il riordinamento del sistema delle parità monetarie. — L’articolo esamina la posizione dei direttori gerenti del Fondo monetario internazionale riguardo al sistema delle parità monetarie. I direttori sono d’avviso che le parità monetarie si dovrebbero intendere come ?punti fissi di riferimento? che creino una salutare disciplina in relazione al mantenimento di una stabilità finanziaria all’interno. Essi ammettono invero che modifiche ?eccessivamente ritardate? delle parità possono essere pericolose, temono, peró, molto di più, modifiche ?premature? che indebolirebbero la disciplina monetaria (la quale sarebbe rafforzata presumibilmente già dal trauma di ritardate modifiche e crisi monetarie). Essi temono anche, in un sistema di parità flessibili, concorrenti svalutazioni dei cambi, mentre molto meno preoccupazioni danno loro soprao sottovalutazioni. Di conseguenza i direttori gerenti rigettano una fluttuazione dei cambi, larghi margini e adattamento automatico delle parità per mezzo di formule. L’articolo sostiene l’opinione che questo atteggiamento ufficiale del Fondo è troppo rigido e ehe una maggiore flessibilità dei cambi (nella forma di una fascia mobile) deve essere incorporata nel sistema, soprattutto anche in considerazione del ruolo crescente dei diritti speciali di prelievo. L’incremento dell’indipendenza di politiche economiche nazionali che deriva dall’incondizionata destinazione di riserve esige un meccanismo di adattamento che lavori con frequenti e piccole modificazioni delle parità.

     

PROFIT MAXIMISATION AND IMPERFECT COMPETITION—AN APPLICATION OF QUADRATIC PROGRAMMING TO HORTICULTURE*

This paper discusses the determination of profit-maximising behaviour under conditions of imperfect competition in product and/or factor markets. After stating a quadratic programming model which restricts product demand and factor supply functions to a linear form, an empirical application to a New Zealand nursery firm is discussed. It is concluded that such quadratic programming models should have an important role to play in horticultural management     

On testing the correlation coefficient of a bivariate normal distribution

Summary Here we propose two tests for testing in the bivariate normal population assuming that the ratio of the variances in it is known. The first test (U.M.P.U.) is derived by using the Neyman-Pearson lemma, whereas the second test is obtained through testing the scale parameter of the Cauchy distribution. The powers of the first and second tests are compared with a well-known test, based on the sample correlation coefficient for small and large samples respectively.     

Vasectomy bonuses and completed family size in India

This paper discusses the consequences in rural India of a certain rational household decision function on the number of children born in the family when birth control opportunities are available. Households are assumed to choose whether or not to practice birth control after each child is born on the basis of maximising expected utility as a function of the consumption per head and the number of members in the family. Uncertainty arises on account of the different evaluation of children of different sexes. The model is then used to predict how completed family size would change if a government agency paid bonuses for smaller families.     

Typology formation across socio-economic indicators

Some decisions in planning and policy formation require the comparison of one region or country with another. If the entities being compared are known and have been demonstrated to be either similar or different, then valid comparisons can be made. Unfortunately, many comparisons are made on an ad hoc and often improper basis. The paper describes a method of typology formation which requires the modification and the use of the Euclidean distance measure calculated between countries over a series of social indicators. The potential usefulness of the method is demonstrated by reference to an example using indicators of educational system provision.