ON THE PRICE ADJUSTMENT PROCESSES IN COMPETITIVE ECONOMIES

Abstract

The economic implications of some representative price adjustment processes are discussed. The processes are classified as normalized process and non-normalized process. In the former process there is a numeraire commodity and its price is fixed as one throughout the adjustment process. In the latter process there is no numeraire commodity and all commodities are treated symmetrically. The two types of price adjustment processes have essentially different economic implications. (Author)

Document Details

Document Type
Technical Report
Publication Date
Apr 11, 1961
Accession Number
AD0256379

Entities

People

  • Ken-ichi Inada

Organizations

  • Stanford University

Tags

Communities of Interest

  • Materials and Manufacturing Processes

DTIC Thesaurus Topics

  • Commodities

Fields of Study

  • Economics

Readers

  • Economics
  • Organizational Process Management (OPM).
  • Regression Analysis.