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Markov Decision Problems II: Summarized Utility, Memorless Strategies, Stationarity
The analysis of Markov decision problems with expected utility criteria, initiated on Kreps (1975b), is continued. Analogues of the standard dynamic programming concepts of memoryless strategies and stationarity are provided. The key notion is…
Markov Decision Problems with Expected Utility Criteria, I: Basic Notions and Essentially Positive, Essentially Negative and Convergent Utility
A discrete time, finite state and action Markov decision problem is considered where the objective is the maximization of the expectation of an arbitrary utility function defined on the sequence of rewards. Basic concepts are formulated,…
Public Goods, Collective Choice, and the Regulated Firm
Abstract not available.
Women Economists: Career Aspirations, Education and Training
Abstract not available.
Retail Store Credit Card Use A Study of New York Consumers
Abstract not available.
Advertising and the Distribution of Consumer Demand
In this paper, the Houthakker-Taylor model of consumer demand is extended to include the effects of advertising. Industry demand equations are estimated and long-run price and advertising elasticities of demand computed. A primary finding is that…
Expected Inflation Implied by Capital Market Rates
Abstract not available.
External Economic Relationships and the Process of Development: A Framework for Discussion
Abstract not available.
Monopoly and the Distribution of Wealth
Abstract not available.
Subsidies in the Use of Revolving Credit
This paper deals with the measurement of subsidies in the use of consumer retail revolving credit under current local and institutional arrangements. The possibility of subsidies among credit users stems from three basic sources: (i) legal…
The Information Content of Student Evaluations of Faculty and Courses
Abstract not available.
The Rate of Return on Investment in Durable Goods
Abstract not available.
Advertising As A Source Of Monopoly Power
Abstract not available.
A Choice-Theoretic Analysis of Criminal Deterrents
Abstract not available.
Inflation and the Redistribution of Wealth
Abstract not available.
Leverage and the Valuation of Risk Assets: An Empirical Test
Abstract not available.
Outward-Looking Strategies: Policies of Developed Countries
Abstract not available.