Reexamination of the A−J effect
نویسندگان
چکیده
We establish four necessary and sufficient conditions for the existence of the Averch−Johnson effect in a generalized version of their famous model of the rate−of−return regulated firm. The four necessary and sufficient conditions are then compared to the two stronger sufficient conditions for the Averch−Johnson effect found in the literature. Our analysis also permits us to put to rest a somewhat protracted debate about the very existence of the Averch−Johnson effect. Michael R. Caputo is a professor of Agricultural and Resource Economics and a member of the Giannini Foundation of Agricultural Economics. M. Hossein Partovi is a professor of Physics and Astronomy, and would like to acknowledge partial support by a Research Award from California State University, Sacramento. Citation: Caputo, Michael R. and M. Hossein Partovi, (2002) "Reexamination of the A−J effect." Economics Bulletin, Vol. 12, No. 10 pp. 1−9 Submitted: August 28, 2002. Accepted: August 28, 2002. URL: http://www.economicsbulletin.com/2002/volume12/EB−02L20003A.pdf
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