Thèse--Univ. de Poitiers. / "Bibliographie": p. vii-viii.

Thèse--Univ. de Poitiers. / "Bibliographie": p. vii-viii.

Thesis (Ph. D.)--University of Wisconsin--Madison, 1974. / Typescript. Vita. eContent provider-neutral record in process. Description based on print version record. Includes bibliographical references.

In this thesis an attempt is made to describe the main features and some of the attendant problems of a system of price determination which has been recommended by several economists as the socially most desirable pricing system. The principle on which this pricing method is based is referred to as "marginal cost pricing", because it requires that all prices for economic goods should equal the marginal costs of their production. The basic reasoning which underlies the formula of marginal cost pricing is simply that wherever society can produce an additional item of any product at a cost less than the value which any member of society is willing to surrender for that item, it should be produced. By making the price of each good equal to the cost of producing an additional (marginal) item, consumers will be encouraged to demand exactly the output thus produced. Two analytical approaches to the matter are presented. First a summary is given of Professor Lerner's theory of marginal cost pricing, based on the marginal substitutability concept of the indifference theory of value. However, most of the problems involved lend themselves better to analysis along the lines of the utility theory, in terms of which the remainder of the thesis is written. Special emphasis is placed upon the equilibrium of the firm under marginal cost pricing and upon the influence of taxation. A discussion of the main criticism brought out against the marginal cost pricing theory, both of a theoretical and a practical nature, is also presented. The conclusion reached in the thesis is that if price determination could be considered an isolated problem marginal cost pricing would indeed appear to be desirable. Institutional complications, however, make a universal application of the principle appear both improbable and Inadvisable within the forseeable future. / Arts, Faculty of / Vancouver School of Economics / Graduate

No description available.

Inaugural dissertation--Schlesischen Friedrich-Wilhelms-Universität zu Breslau.

Most models of asset pricing or market equilibrium generally require the assumption of stationary price change generation. That is, the mean and/or variance of the price change is hypothesized to be constant over time. On the other hand, the widely accepted models of speculative price change generation, such as the subordinated stochastic process models, have their basis in mixtures of random variables. These mixtures, or compositisations, define non-stationary, non-Normally distributed forms. Therefore, the models based on mixtures cannot be reconciled to requirements of stationarity. A contaminated process, such as that suggested by Mandelbroit, implies continuously changing mean and/or variance. However, an alternative concept of mixture exists, which is consistent with models requiring stationary moments. This process is referred to as slippage. Slippage defines a state where moments are constant for intervals of time, but do change value. If speculative price changes were found to be characterized by slippage, rather than by contamination, then such a finding would still be consistent with the empirical distributions of price changes. More importantly, slippage would meet the requirement of stationarity imposed on the capital market and options models. This work advanced a methodology that discriminates between contamination-based and slippage-based non-stationarity in speculative price changes. Such a technique is necessary, inasmuch as curve fitting or estimation of moments cannot so discriminate. The technique employs non-parametric range estimators. Any given form of non-Normality induces an identifiable pattern of bias upon these estimators. Once a pattern induced by a time series of price changes is identified; this pattern then infers whether contamination, or, alternatively, slippage, generated the time series. Due to the composition and technique of the procedure developed here, it is referred to as a "Range Spectrum." The results examined here find that stocks do display contamination, as hypothesized by the subordinate stochastic models. A broad based index of price change, however, displays the characteristics of slippage. This quality not only has implications for, but suggests possibilities for further research, in the areas of diversification, securities and options pricing, and market timing.

Thesis (Ph. D.)--University of Hong Kong, 2010. / Includes bibliographical references (p. 67-68). Also available in print.

Thesis (Ph. D.)--University of Wisconsin-Madison, 1995. / Typescript. eContent provider-neutral record in process. Description based on print version record. Includes bibliographical references (leaves 299-314).

Thesis (doctoral)--København, 1906. / Includes bibliographical references.