Economics of Space and Time: Scientific Papers of Tönu Puu by Tönu Puu (auth.), Professor Dr. Åke E. Andersson, Professor

By Tönu Puu (auth.), Professor Dr. Åke E. Andersson, Professor Dr. Martin J. Beckmann, Professor Dr. Karl-Gustaf Löfgren, M. A. Anders Stenberg (eds.)

This e-book incorporates a pattern of Professor Tönu Puu's contributions to fiscal conception. the themes diversity from seminal effects on funding standards lower than imperfect capital markets and principles for optimum source extraction while the grade of the ore is heterogeneous, to purposes of recent nonlinear dynamics to famous financial fields like enterprise cycle research and oligopoly conception. Puu's pondering on cultural economics and his perspectives at the technique of financial technological know-how also are fortunately uncovered via the papers during this quantity. Readers drawn to the spatial size of the economic climate will locate unique rules at the optimum allocation of street capital.

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Extra resources for Economics of Space and Time: Scientific Papers of Tönu Puu

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Formal optimum conditions. After this introductory discussion of terminological problems the formal treatment may commence. A firm is assumed to manufacture one product, the quantity denoted q, and to use n different production factors, the quantities denoted VI' ... , V n , in the process. The firm is assumed to be so small that it may not influence product price, denoted p, or factor prices, denoted rl> ... , rn , by its own supply or demand. The choice of production scale and technique is assumed to be made according to a production function, expressed in explicit form as [1J and assumed to have derivatives at least up to second order.

In the absence of such a compensatory income change, the substitution effect is modified by such a change as would be caused by an isolated income change (at constant prices) of a magnitude adequate to shift the consumer's optimum to the new indifference curve. This modifying change is called" income effect. " As the substitution effect is proved to be negative under the assumptions of the theory considered, provided that the demand of a good is concerned whose own price has changed, the splitting of effects yields some of the very few empirically (1) The author is indebted to Professor Tord Palander for many stimulating discussions on the subject.

C'est Irving Fisher qui a expose les raisons pour lesquelles Ie critere de la valeur capital maxima devrait etre employe par tout investiteur rationnel, sans egard pour ses preferences subjectives de terme, ni pour les revenus provenant d'activites autres que celles envisagees par la decision d'investir. II I'a fait pour Ie cas au des sommes illimitees d'argent peuvent etre pretees et empruntees a un seul et identique taux d'interet. Plus tard, d'autres auteurs ont essaye d'etendre Ie principe de la valeur capital maxima aux cas ou les taux d'interet des prets different de ceux des emprunts.

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