Risky production with ex-ante prices under monopoly: analytical and simulation results
A production model which treats price and production as ex-ante variables as proposed by Karlin and Carr is analyzed to derive a determinate output volume effect given conditions of constant price elasticity of certainty demand and a uniform probability distribution. Simulation techniques are used to extend the impact of demand uncertainty on ouptut and price. The study supports Karlin and Carr's proposal that optimal price is higher than certainty price when demand is not price-elastic.
Publication Name: Bulletin of Economic Research
Transforming Qualitative Survey Data: Performance Comparisons for the UK
The article examines machinery and plant investment, employment, output, price, cost, and exports variables in testing the conversion of qualitative survey data into quantitative indices. Findings show that the balance statistic is a useful method for converting the variables of output, exports, and investment.
Publication Name: Oxford Bulletin of Economics & Statistics
The effect of business risk on manufacturing investment Sectoral survey evidence from Ireland
Research is presented on interpreting a Sectoral survey regarding investment decisions of large manufacturing firms in Ireland, and understanding these decisions within the framework of different models of risk. The study looks at what influenced each firm's responses within the survey.
Publication Name: Journal of Economic Behavior & Organization
- Abstracts: Demand and productivity components of business cycles: Estimates and implications
- Abstracts: Bayesian model selection and prediction with empirical applications: comments. Trending time series and macroeconomic activity: Some present and future challenges
- Abstracts: Nominal price rigidity, money supply endogeneity, and business cycles. Wages, business cycles, and comparative advantage
- Abstracts: Policy reforms, currency auctions, and production choices in transition economies. An arrears crisis and stabilization failure in a transition economy
- Abstracts: Product differentiation and price competition between a safe and risky seller. Why do workers spend so much time on inferior tasks?