This paper explores some implications for valuation and investment of challenging the standard assumption that there are no aggregate pure profits in the US economy. First, it highlights the theoretical importance of monopoly rents for fluctuations in average Q. A series for such rents is then computed by assuming that production is Cobb-Douglas, as fluctuations in the output share of pure prof...

to measure an unbiased farm-specific efficiency of individual dairy farmers, a shadow-price profit frontier adjusted for market distortion was applied to a sample of 860 iranian small intensive dairy farms surveyed in 2005-2006. this measure was then compared with that of unadjusted measure that assumes undistorted market. a multiple general linear model (glm) technique was applied to the data ...

This study derives pure strategy Bertrand equilibria in a duopoly in which two firms produce a homogeneous good with convex cost functions and seek to maximize the weighted sum of their absolute and relative profits. The study shows that there exists a range of equilibrium prices in duopolistic equilibria. This range of equilibrium prices is narrower and lower than the range of equilibrium pric...

To measure an unbiased farm-specific efficiency of individual dairy farmers, a shadow-price profit frontier adjusted for market distortion was applied to a sample of 860 Iranian small intensive dairy farms surveyed in 2005-2006. This measure was then compared with that of unadjusted measure that assumes undistorted market. A multiple general linear model (GLM) technique was applied to the data ...

Pure plays use the Internet as a market entry strategy and brick and clicks use the Internet as an alternate channel of distribution. Several theoretical frameworks are used to explore strategic and performance differences between business models. Results from a sample of 240 firms engaged in Internet-based consumer marketing suggest that brick and clicks are more effective than pure plays at u...

This paper establishes that the profit-seeking activities of private intermediaries can ensure Pareto efficiency in the standard pure-exchange monetary overlapping generations economy without the need for government monetary or fiscal policy intervention. Moreover, these profit-seeking activities are shown to rule out all aperiodic and kperiodic cycles for k greater than 2. Contrary to much rec...