Showing papers in "Journal of Economic Theory in 1973"

TL;DR: In this paper, the authors studied the competitive equilibrium over time of a one good model in which the agents are members of a population which grows at a constant rate, and the model is thus the n-period generalization of the two and three-period models studied by Samuelson in [4].

TL;DR: In this article, the problems of price and wage inflation and unemployment are discussed in a context of a model of class struggle developed by R. M.Goodwin, which is an analog of the Volterra-Lotka preypredator model.

TL;DR: In this article, the authors considered an optimal control problem with a parameter and developed a systematic method for comparative dynamics, and provided a sufficient condition for the optimum solution to be differentiable with respect to the parameter.

TL;DR: In this paper, the behavior of a profit-maximizing firm in a market characterized by uncertain wage differentials for a homogeneous occupation is studied, and the model is set up as a dynamic optimization problem.

TL;DR: In this article, it is shown that an optimal stationary stochastic program can be sustained by a stochastically equilibria, in which at each date the optimal production decisions maximize expected intertemporal profit, and the optimal aggregate consumption vector has minimum cost among all aggregate consumption vectors yielding no less (social) utility.

TL;DR: In this article, it was shown that a temporary equilibrium exists if price expectations are sufficiently independent of current prices, and that a stationary market equilibrium is Pareto optimal if all traders hold positive cash balances.

TL;DR: In this paper, the optimal allocation of urban land between the generation of traffic and the carrying of traffic which minimizes congestion costs is derived for a circular city, and the existence of a maximum size for a city of a given working population is discussed with special reference to the case where there is no land rent.

TL;DR: In this paper, the authors developed a model for the allocation of urban land among the residential and transportation sectors and the central business district and used it to derive the intensity of land use.

TL;DR: In this article, the relation among Pareto-optimal, stable and equilibrium allocations under different definitions of equilibrium is studied. And the classical results concerning the relation between Pare-tooptimal allocations and equilibrium allocation can be generalized in a satisfactory way.