The effect of a free market price mechanism on total factor productivity: the case of the agricultural crop industry in Greece

Article Abstract:

Implementation of a hypothetical price-liberalization policy is shown to enhance the total factor productivity of Greek agricultural crop industry. Utilization of a multiple indicator multiple cause (MIMIC) model revealed that total factor productivity might have grown five times during 1974 to 1989 if a price-liberalization policy is implemented. Such effect is opposed to the negative effect created by the Common Agricultural Policy of the European Communities on the agricultural sector of Greece.

All Other Miscellaneous Crop Farming, Regulation of Agricultural Marketing and Commodities, Crop Farms, General farms, primarily crop, Agricultural Marketing Regulations, Research, Greece, Agricultural industry, Economic aspects, Agricultural policy, Trade regulation, Agricultural products, Free enterprise

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A fuzzy pooling of investment cost knowledge

Article Abstract:

The analysis of a case study of investment cost estimation points to the inherent characteristics of vagueness and complexity among factors determining investment cost parameters. The acquisition of pertinent knowledge is generally a hit-and-run affair and the use of conditional statements is unavoidable. The creative use of mathematical and statistical analysis should be able to inject more rational results.

Finance, Investments, Knowledge, Theory of, Epistemology

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Cost of free capacity

Article Abstract:

The cost of free capacity remains difficult to determine for several reasons. Cost allocation is often arbitrary while capacity is based on environment such as facility layout. However, it is argued that if the cost of free capacity is important, it can be measured using the modified normal costing method. An example that illustrates the difference between normal and actual costing methods is presented.

Cost accounting, Direct costing

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