Accession Number:

AD0256379

Title:

ON THE PRICE ADJUSTMENT PROCESSES IN COMPETITIVE ECONOMIES

Descriptive Note:

Corporate Author:

STANFORD UNIV CALIF APPLIED MATHEMATICS AND STATISTICS LABS

Personal Author(s):

Report Date:

1961-04-11

Pagination or Media Count:

1.0

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

Subject Categories:

Distribution Statement:

APPROVED FOR PUBLIC RELEASE