A simple neo‐classical theory of the demand for capital goods service is presented to clarify the relationship between the marginal productivity of capital and Keynes′s concept of the marginal efficiency of capital. How the latter concept is related to con‐temporary understanding of the...

This paper empirically examines the impact of state government purchasing preference laws on expenditures and revenue of individual states. Purchasing preferences allow firms located within a state to win state contracts without being the low bidder. We find that states with purchasing...

Abstract Recently, Ohta et al. [Quality and Reliability Engineering International 17: 439-446, 2001] have studied the economic design of CCC (Cumulative Count of Conforming)- r charts for high-yield processes assuming a fixed hazard rate. Generally, however, the hazard rate is varying over time....

When the spot price and production risk are jointly normally distributed, the mean-variance approach has little theoretical justification. The authors use Taylor approximations instead and show the three results. One, farmers hedge less than expected production when the futures price is less...