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Look Inside The Timing of Economic Activities

The Timing of Economic Activities
Firms, Households and Markets in Time-Specific Analysis


  • Date Published: August 2008
  • availability: Available
  • format: Paperback
  • isbn: 9780521070928

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About the Authors
  • This study introduces 'time-specific' analysis of economic processes. Economic processes are conventionally analysed from one point in time to another over a series of time units - days, weeks, or years. By contrast, these time-specific models focus on the temporal character of events within the unit time - their timing, duration, and sequence - utilizing the information that is lost in the macroscopic time perspective of standard economic theory. What time-specific analysis reveals are economic and technological characteristics of goods and services - prices and cost behaviour and temporal mobility or immobility within the unit time - that affect capital productivity and its utilization, optimal schedules of production, work, and consumption, least-cost methods of producing time-shaped outputs, and efficient welfare-maximizing behavior in time-specific, including peak-load, markets.

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    Product details

    • Date Published: August 2008
    • format: Paperback
    • isbn: 9780521070928
    • length: 360 pages
    • dimensions: 229 x 152 x 20 mm
    • weight: 0.53kg
    • availability: Available
  • Table of Contents

    1. Introduction
    2. Timing, information loss, and unit time in economic analysis
    Part II. Time-specific analysis of production:
    3. Modeling the time-shape of processes, technology, and prices
    Time-shaped costs: optimal scheduling of storable production
    5. Time-shaped output: least-cost production of perishable peak-load products
    Part III. Applications of time-specific analysis:
    6. Shephard's dilemma: duality and the process of production
    7. Factor intensities, capacity, and the Leontief paradox: Part IV. Time-specific analysis of household activities:
    8. Modeling the time-shape of work and consumption: the optimal household schedule and the value of time
    9. The anatomy of household activities: goal and process
    work and home production
    capital and self-control
    Part V. Time-specific markets:
    10. A theory of time-specific markets: generalized peak loads
    11. Welfare and distortions in time-specific exchange
    Part VI. Postscript:
    12. Time-specific analysis of nonrhythmic events: relational exchange and the role of repetition.

  • Author

    Gordon C. Winston

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