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Working Paper No. 4July 10, 1988
Housing Quality Differentials in Urban Areas
AbstractThis paper applies an equilibrium quality theory for differentiated products to estimate the willingness to pay for improvements in the air quality of Chicago, Cleveland, Dallas, Houston, and Indianapolis. The…more
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Working Paper No. 3March 10, 1988
Competing Micro Economic Theories of Industrial Profits
AbstractContrary to the impression given by most textbooks, microeconomics is not a homogeneous discipline. At least two major alternative theories exist which account for the long-run behavior of industrial prices…more
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Working Paper No. 2March 09, 1988
The Firm and Its Profits
AbstractWhat sets the firm apart from other producers is the commercial nature of its operations. The firm produces for the market and only for the market. It produces goods and…more
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Working Paper No. 1November 10, 1987
Macroeconomic Profitability
AbstractThis paper gives an account of recent work on the measurement, statistical analysis, and theoretical analysis of macroeconomic profitability. Measurement issues include the treatment of holding gains on physical assets…more
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