Hungary on the Road to a Mixed Economy: A Kaleckian Computable General Equilibrium Approach

The change from a centrally planned economy into a market economy is likely to have created a unique situation in economic history. Consequently, no existing economy theory is able to depict the process of transformation. It is argued in this paper that a Kaleckian theoretical approach may provide a starting point for the analysis of the formerly centrally planned economies of Central and Eastern Europe. This approach is applied to Hungary, within the framework of a computable general equilibrium model. A number of policy measures, such as wage constraint, devaluation and mark-up reduction, are considered and their effects on production, inflation and income distribution assessed.     

A GENERAL CHARACTERIZATION OF MULTIPRODUCT COURNOT COMPETITION

The problem of oligopolistic competition between multiproduct firms is analysed using a general framework, where a given number of firms have access to the same technology, and play a Cournot game, by simultaneously choosing a quantity vector.
Conditions guaranteeing the symmetry of the Cournot equilibrium are sought. The results obtained are very general, and can be given a straightforward natural economic interpretation, essentially requiring convexity of the cost function and the ruling out of pathological demand functions.     

The historical evolution of female earnings functions and occupations

The ambition of the school girl to “work in an office” in preference to work in a factory has often been commented on by vocational counsellers and others in touch with girls who are seeking their first jobs.     

The status of business ethics: Past and future

Business ethics, which grew out of religion's interest in ethics in business and management education's concern with social issues, has become an interdisciplinary academic field. Thus far it has centered on teaching undergraduates. The easy work has now been done and the field has reached a plateau. To develop further it requires development on the MBA level, high quality research on new questions, positive models, better interdisciplinary integration, and attention to international business. Ultimately the field will stand or fall on the quality of research those in it produce. Richard T. De George, University Distinguished Professor of Philosophy at the University of Kansas is the author or editor of fifteen books, including Ethics, Free Enterprise and Public Policy; Business Ethics, 2nd ed.; and The Nature and Limits of Authority.     

Brand promotions as a lottery

This paper shows that imprecisely stated discounts in brand promotions offered in the form of a low-probability lottery can lead to higher sales (purchase intentions) and consequently profits than equally costly conventional promotions offering a precise discount on the entire stock. Results from two different experimental studies support our findings. For high-probability lottery-like promotions, imprecise discounts lead to a lower performance for the brand than conventional promotions. We attempt to explain the findings by drawing on the behavioral decision theory literature.