Suppose a firm faces a “timing problem” in its capacity decision: it must acquire capacity, a strict upper bound on production, and set its price before quantity demanded for its product is known. The paper shows that the uncertainty capacity is greater than the certainty capacity when the...

"Kenneth Boulding (1910-1993) was a notable economist and educator, best known for his contribution to General Systems Theory, ecological economics and conflict and defense. This text gives insight into the life and multidisciplinary work of Boulding. Boulding was born to a working-class family...