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Uncertainty and capacity constraints: Reconsidering the aggregate production function

Gracia, Eduard - In: Economics: The Open-Access, Open-Assessment E-Journal 5 (2011) 2011-19, pp. 1-50

The CobbDouglas function is today one of the most widely adopted assumptions in economic modeling, yet both its theoretical and empirical bases have long been under question. This paper builds an alternative function on very different (albeit also neoclassical) microfoundations aimed at both...

Persistent link: https://www.econbiz.de/10010307562

The transformation of values into prices on the basis of random systems revisited: reply to my commentators

Schefold, Bertram - In: Evolutionary and Institutional Economics Review 18 (2020) 1, pp. 317-334

This paper defends The Transformation of Values into Prices on the Basis of Random Systems, published in EIER, by answering to the Comments made in the same journal by Professors Mori, Morioka and Yamazaki. The clarifications mainly concern the justification of the randomness assumptions, the...

Persistent link: https://www.econbiz.de/10014504271

The classical roots of the Austrian theory of capital and entrepreneurship

Meacci, Ferdinando; Ferlito, Carmelo - In: The Review of Austrian Economics 31 (2018) 3, pp. 315-339

The paper deals with the continuities and discontinuities between some classical, Austrian and neo-Austrian authors with regard first to the theory of capital and then to the theory of entrepreneurship. Part I focuses on the elements of continuity between the classical and the Austrian theory of...

Persistent link: https://www.econbiz.de/10011892388

The Cambridge–Cambridge controversy on the theory of capital: 50 years after

Hagemann, Harald - In: European Journal of Economics and Economic Policies: … 17 (2020) 2, pp. 196-207

The paper points out that capital theory has always been a hotly debated subject, partly because the theoretical issues involved are very complex, and partly because rival ideologies and value systems directly affect the issues discussed. The focus is on the history, the main protagonists, and...

Persistent link: https://www.econbiz.de/10014363384

What remains of the Cambridge critique of capital theory, if reswitching and reverse capital deepening are empirically rare and theoretically unlikely?

Schefold, Bertram - In: European Journal of Economics and Economic Policies: … 17 (2020) 2, pp. 220-240

The paper summarises the main results of the Cambridge controversy on capital theory and discusses its actual relevance. The paradoxes that had first been regarded as most relevant (reswitching and reverse capital deepening) have turned out to be empirically rare, and this can be explained...

Persistent link: https://www.econbiz.de/10014363386

The theory of value and distribution and the problem of capital

Kurz, Heinz D. - In: European Journal of Economics and Economic Policies: … 17 (2020) 2, pp. 241-264

The paper identifies as the root of the recent controversy in the theory of capital David Ricardo's finding that competitive prices and costs of production depend not only on the methods of production employed, but also on the wage rate (or rate of profits) and change with it. A consequence of...

Persistent link: https://www.econbiz.de/10014363387

Fundamentos de la Escuela Austriaca sobre el capital y los ciclos económicos e invitación al diálogo con la síntesis neoclásica

Sánchez-Bayón, Antonio; Castro-Oliva, Marcos - In: Atlantic Review of Economics (ARoEc) 6 (2023) 2, pp. 1-36

Review of economic fundamentals and invitation to dialogue between economic schools for a better understanding and management of economic cycles. It is based on the theory of capital and the economic cycles of the Austrian Economics, since it is one of the few that considers money non - neutral...

Persistent link: https://www.econbiz.de/10015326401

A Study of Industry Cost of Equity in Australia Using the Fama and French 5 Factor Model and the Capital Asset Pricing Model (CAPM): A Pitch

Mackay, Will; Haque, Tariq - In: Journal of Accounting and Management Information … 15 (2016) 3, pp. 618-623

This paper describes the use of the Faff (2015) pitching template to formulate a research concept into a formal research proposal. It outlines our experience in applying the various sections of the pitch template and the challenges experienced in doing so. Overall the adoption of the pitch...

Persistent link: https://www.econbiz.de/10015196147

Tail risk management and the skewness premium

Kipp, Martin; Koziol, Christian - In: Journal of Asset Management 23 (2022) 6, pp. 534-546

aversion (DRRA) and different investment horizons. In contrast to the seminal CAPM, two fund separation does no longer hold …

Persistent link: https://www.econbiz.de/10015210347

An extended fama-french multi-factor model in direct real estate investing

Yiu, Chung Yim; Xiong, Chuyi; Cheung, Ka Shing - In: Journal of Risk and Financial Management 15 (2022) 9, pp. 1-14

pricing model (CAPM) to investigate whether direct real estate returns compensate for their risk levels. Based on a panel … real estate portfolio performance in the single-factor CAPM model is compared with the national housing markets stock … evaluated by the five-factor CAPM model, which includes the factors of liquidity risk, value risk, time risk, credit-rating risk …

Persistent link: https://www.econbiz.de/10014332590