This paper analyzes responses to an administered questionnaire in which owner-managers of seventy-three small firms were asked how they would respond to booms and recessions. Responses suggest that quantity adjustments to demand fluctuations are more important than price adjustments. There is...

This paper reports on an econometric structure-performance model for a mixed-market developing economy, the East African state of Malawi. A simultaneous equation model, which was cross-sectionally heteroskedastic and time-wise autoregressive, was estimated by instrumental variables using...

This paper examines statistical methods for handling economic data that are expressible as sequences of actions, given a contingent circumstance (e.g., given a fall in demand, which of several courses of action--such as lowering price, increasing stocks, or increasing sales effort--will be taken...