Optimality of Profit-Including Prices Under Ideal Planning

Planning, Prices and Increasing Returns

Factor Prices under MonoPoly

This paper explains how grants of monopolistic privileges to capitalists can lower labor and land factors’ prices compared to what would prevail in a free market environment. Monopoly gains of privileged business owners are not only “extracted” from their clients but also from factor owners. We revisit Rothbardian monopoly price theory and extend it to the realm of factor pricing. Monopolistic ...

On the optimality of the ideal right-angled 24-cell

Since Coxeter’s work [3], the 24-cell is known for its nice combinatorial and geometric structure in the Euclidean sense. We demonstrate that it possesses optimal properties I and II in the hyperbolic setting. Question I is closely related to the volume spectrum of four-dimensional hyperbolic manifolds [10], question II is new and is both of combinatorial and geometric nature. Furthermore, usin...

Medium range optimization of copper extraction planning under uncertainty in future copper prices

Deterministic mine planning models along a time horizon have proved to be very effective in supporting decisions on sequencing the extraction of material in copper mines. Some of these models have been developed for, and used successfully by CODELCO, the Chilean state copper company. In this paper, we wish to consider the uncertainty in a very volatile parameter of the problem, namely, the copp...

Equilibrium unemployment under negotiated profit sharing

We study employment, employee effort, wages and profit sharing when firms face stochastic revenue shocks and when base wages and profit shares are determined through collective bargaining. The negotiated profit share depends positively on the relative bargaining power of the trade union and has effort-enhancing and wage-moderating effects. We show that higher profit sharing reduces equilibrium ...