This paper presents an overview of the application of the mathematical theory of 'high-Iow' search to firms' pricing and production decisions. We show how this methodology can be used to determine an optimal sequence of price-quantity decisions by a firm through time. We suppose that the firm...

Chapman: Major defects in British naval intelligence were the absence of an effective central department, an inferior network of naval attachés in major capitals prior to 1902 and the lack of secure direct cable communications with Northeast Asia. The performance of the Naval Intelligence...

The welfare economic method for analyzing the case for government intervention is often criticised for ignoring the political determination of policies. The standard method of accounting for this critique studies the case for intervention under the constraint that the level of the instrument in...