The consumption function: a basic needs hypothesis

Article Abstract:

The study recommended the division of consumption expenditure on non-durable items into 'basic needs' and other expenditure due to the different characteristics and empirical time series properties of 'basic needs' consumption expenditure. Other expenditure is said to be volatile while basic needs expenditure shows more stability with almost no cyclical movement. The primary conclusion of the study showed that the consideration of basic needs consumption expenditure as another division is being supported by theoretical and empirical reasons.

Research, Consumption (Economics), Basic needs

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Nirvana efficiency: a comparative test of residual claims and routines

Article Abstract:

The relative value of residual claims and routines in generating firm efficiency is tested. The agency view of residual claims argues that ownership structures account for most of efficiency differences between firms while the organization view of routines holds that organizational routines are the major source of efficiency differences between firms. Empirical evidence supports both views, with the average value of routines slightly an order of magnitude higher than residual claims.

Organizational Methods NEC, Economic aspects, Industrial efficiency, Economic efficiency, Organizational change, Organizational behavior, Agency theory

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Paternalism and the credibility problem in a centrally planned economy

Article Abstract:

An infinitely repeated game framework was used to assess concepts of credibility, paternalism, storming, Kornai's soft budget constraint and 'pripiska' under a centrally planned economy. The approach takes into consideration a widely-known assumption to distinguish central points among multiple equilibria identified. Some parameters were also employed to evaluate the occurrence of 'pripiska' phenomenon in a country with a centrally planned economy.

Game theory

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