In this paper we study the relationship between costs, input prices and activity levels in medium sized American police departments. Our focus is on determining the functional structure of law enforcement production technology in agencies of this size

This paper is divided into two parts which deal with closely connected issues, The first section of the paper explores the structure of consumer demand systems necessary and sufficient for exact aggregation. The second section addresses a related empirical question: what, if anything, do the...

A model of the production of wildfire ignitions and damages is developed and used to determine wildland activity-regulation decisions, which minimize total expected cost-plus-loss due to wildfires. In this context, the implications of various policy decisions are considered. The resulting...

In this paper the factor supply results of Leland. Sandmo and Block and Heineke are generalized to include the case of a household making a joint savings-labor supply decision when the returns to each factor are uncertain

In this paper we extend Scitovsky’s classic “A Note on Profit Maximization and its Implications” to a stochastic environment. Implications of the model with and without uncertainty are contrasted

Economists in business schools who co-teach courses with other business school faculty often struggle with integrating constructs and concepts widely used in other disciplines into basic economic theory. In this note we show how the marketing construct, "customer satisfaction," fits rather...

This article summarizes some recent research that explores the role of customer satisfaction in the fortunes of retailers. The goal of the research was to layout precisely (mathematically) how productivity, cost and demand are impacted when a retailer changes labor and/or capital expenditures,...

In this short paper we reformulate and extend Sandmo's (3) well known analysis of “capital risk” to include the effects of savings uncertainty on both the savings decision and the labor-leisure decision