economic impact of production bottlenecks caused by disasters impacting interdependent industry sectors abstract this paper provides a new linear programming model based on leontief s input output model to investigate the economic consequences of production capacity bottlenecks caused by disasters an important contribution of the paper is the incorporation of industry sectors preferences in allocating limited products services between final domestic demand foreign final demand and intermediate industries this provides support for estimating some of the indirect economic impacts of disasters the paper also considers recovery operations within disrupted sectors from the standpoint of evaluating the performance of the economy during the transition period after a disaster the models are implemented to investigate the economic consequences of electricity sector disruption in singapore and finally computational results are reported

measuring changes in international production from a disruption case study of the japanese earthquake and tsunami the earthquake and tsunami that struck japan on march 11 2011 caused a tremendous loss of life and property the disaster also disrupted global supply chains which was blamed for anemic growth in the global economy a multiregional input output model can quantify the international impacts on production due to changes in demand from companies reducing their orders because of a disruption by using the input output model to conceptualize a supply chain we present a unique method for calculating indirect production losses caused by disabled production facilities methods for calculating the possible transfer of demand to industries in other countries are also discussed we apply the multiregional input output model to the japanese earthquake and tsunami comparing results generated by japanese consumer sales with those generated by japanese production data reveals that japanese demand was satised by other countries and that inventory in the production pipeline likely allowed consumer sales to remain strong

labor productivity and the law of decreasing labor content this paper analyzes labor productivity and the law of decreasing labor content ldlc originally formulated by farjoun and machover 1983 first it is shown that the standard measures of labor productivity may be rather misleading owing to their emphasis on monetary aggregates instead the conventional classical marxian labor values provide the theoretically and empirically sound measures of labor productivity the notion of labor content and the ldlc are therefore central in order to understand the dynamics of capitalist economies second some rigorous theoretical relations between different forms of proflt driven technical change and productivity are derived in a general input output framework with flxed capital which provide deterministic foundations to the ldlc third the main theoretical propositions are analyzed empirically based on a new dataset of the german economy

heterogeneity and the evaluation of efficiency the case of italian universities a random parameters stochastic frontier model is applied to italian data in order to evaluate the cost function and efficiency of higher education institutions the method yields useful information about inter institutional variation in cost structure and technical efficiency returns to scale and scope are evaluated for the typical university and it is found that these returns are almost ubiquitously decreasing a finding with clear policy implications

do limits matter evidence on the effects of tax limitations on student performance abstract the goal of this research is to determine if limits on the revenue raising ability of school districts translate into constraints on the ability of these districts to affect student performance we use the recent imposition of property tax limitations on school districts in the chicago metropolitan area to determine if these limits have translated into slower growth in student performance we find only limited evidence that student performance in districts subject to the tax limitations has fallen relative to student performance in districts not subject to the limitations

budget constrained frontier measures of fiscal equality and efficiency in schooling equality and efficiency are key issues in educational reform here the authors analyze the efficiency and equality consequences of various school finance reforms using a cost indirect output distance function this function readily models multiple output production under conditions of budgetary constraint and provides a natural measure of performance that is closely related to farrell type measures of efficiency the analysis suggests that despite school district inefficiency finance reforms can affect student achievement however any potential gains in output from redistribution are dwarfed by the potential gains from increased efficiency more strikingly the analysis demonstrates that budgetary reforms designed to equalize expenditures could actually increase the inequality of student achievement

caveat emptor cross country data on education and the labor force abstract cross country data on education and the labor force frequently are used to describe important dimensions of development and to estimate models of economic growth and growth determinants the impact of education and related phenomena this investigation finds 1 there are serious intertemporal and inter country comparability problems with these data that may importantly affect inferences about labor force size trends and productivity and schooling investments and impact 2 data gaps are systematically related to levels of development and literacy and 3 conclusions about the determinants or consequences of development based on constructed data that have been made available to fill data gaps can be seriously misleading

exploitation and time abstract this paper analyses exploitation and class formation in a dynamic context an intertemporal model of a subsistence economy is set up and among other results it is proved that in an interior equilibrium differential ownership of scarce productive assets is an inherent feature of a capitalist economy while exploitation tends to disappear in the long run asset inequality is therefore proved to be a normatively secondary though causally primary wrong it is also argued that these results raise several doubts about the possibility of providing robust micro foundations to marxian concepts by means of walrasian general equilibrium models

what is this school called neoclassical economics what is this school called neoclassical economics does it exist should it where does the term neoclassical economics come from and is there any connection between any of the current interpretations of the term and its original meaning how do we make sense of competing current interpretations is there a sustainable formulation these and related questions are raised and answered in an attempt to bring clarity to ongoing economic discussion and debate thereby to under labour for a more relevant academic economics discipline

evaluating the productive performance of uk universities as cost constrained revenue maximizers an empirical analysis the study presents an empirical analysis of the relative revenue efficiency of uk universities in providing teaching and research with government policies pressurizing the largely public funded universities to secure efficiency in both input usage and output revenue university producers are modelled as cost constrained revenue maximizers taking explicit account of the quality of research output the methodology uses linear programming techniques to construct nonparametric cost indirect production frontiers and to compute revenue efficiency relative to these frontiers revenue efficiency is then decomposed into its output allocative and technical components further analysis investigates the sources of allocative and technical inefficiencies

an economic model of teaching effectiveness the literature on the determinants of good teaching performance has been largely devoted to empirical measurement a complete review of the publications in this area would require at least an entire issue the size of this journal yet it is virtually impossible to discover attempts to derive hypotheses about the determinants of good teaching from explicit models of behavior this has led researchers into the trap of exploring only the empirical determinants of good teaching performance typically the results of student evaluations are correlated with affective personality traits of the teachers with peer evaluations of psychological compositions or even with the results of various psychological tests examples are the works of robert isaacson et al frank costin et al and wilbert mckeachie et al in most of these studies no substantive conclusions are reached regarding the determinants of effective teaching in the few studies which do contain significant findings the independent variable in question is difficult to explain as a direct determinant of teaching effectiveness for example isaacson et al find that virtually the only statistically significant determinant of effective teaching is the personality characteristic which they label culture this may imply that simply wearing a tweed jacket and taking up pipesmoking is sufficient to improve teaching this paper takes a somewhat different approach to the analysis of teaching assume that the individual in question wishes to maximize teaching effectiveness clearly there are constraints on this maximization process one must necessarily be the time budget constraint a second constraint however adds a good deal of interest to the model this constraint is best described as the bundle of characteristics available to the individual these characteristics could be termed the components of the individual s personality such attributes include physical appearance psychological makeup speaking ability and a myriad of other variables thus this model bears a resemblance to the standard economic models of monopolistic competition see a michael spence before proceeding to a formal statement of the problem a philosophical issue must be addressed what is meant by teaching effectiveness generally this is interpreted as maximizing student evaluations of teachers however this is clearly not always equivalent to maximizing student learning unfortunately the latter variable is difficult but not impossible to measure preand posttesting with standardized tests is becoming increasingly accepted for example the meaning of teaching effectiveness in this paper must unfortunately remain ambiguous some teachers concerned perhaps with obtaining tenure will interpret good teaching as obtaining good evaluations the criterion by which they are judged others may take a more eclectic viewpoint since the problem below is an individual maximization problem the precise definition of effective teaching may simply vary from individual to individual see w r allen formally this problem is exactly analogous to one first addressed by kelvin lancaster he assumes that the consumer attempts to maximize satisfaction through purchase of bundles of attributes each commodity is possessed of certain of these characteristics by consuming various combinations of these commodities the consumer is assistant professor department of economics and director center for economic education california state university hayward i would like to thank alex cassuto nancy sanders and an anonymous referee for helpful discussion in a previously unreported experiment in the department of economics california state universitybakersfield faculty members were required to wear coats and ties in classes it was subsequently observed that teaching evaluations improved unfortunately no detailed statistical results of this experiment are available for analysis

institutions of higher education as multi product firms economies of scale and scope a multiple output cost function is estimated for institutions of higher education in the united states employing data for 1981 82 the authors flexible fixed cost quadratic function includes three outputs undergraduate teaching graduate teaching and research grants and one input price average faculty salaries results indicate the existence of scope economies at least up to a point for both public and private institutions of higher education ray economies of scale are more pronounced in the private sector and product specific economies of scale are observed only in the public sector for research and graduate teaching copyright 1989 by mit press

the current economic crisis its nature and the course of academic economics the current crisis has triggered significant debate concerning economic theory and policy largely absent from this debate is an informed discussion of the methods used by economists in analysing the economy and formulating their proposals but method matters here i argue that current academic research practices need to be transformed before real insight can be achieved specifically i indicate why and how a more grounded framework than that presupposed by current research practices facilitates a potentially more fruitful approach to understanding the crisis

economics of academic research and its implications for higher education the principal output of the highereducation system is knowledge the system generates two kinds of knowledge a disembodied form which appears as information in journals and books and an embod ied form in the grey matter of its graduates these outputs are produced by the activities of research and teaching respectively moreover many of the resources used to produce these outputs are used for both albeit in somewhat different proportions this applies to buildings office space laboratories computer rooms libraries etc staff academic and support staff and equipment computers ex perimental machines measuring instruments etc other resources are more specialized devoted ei ther to research alone research assistants or to teaching lecture rooms finally to function at all all higher educational institutions have to provide a range of central services such as maintaining finan cial staff and student records building mainte nance and repairs catering facilities and so on

production and innovation when techniques are tacit the case of education abstract the central theme of this paper is that the conventional economic theory of production does not hold even approximately in a field like education after examining the result of input output studies in education and the effect of government attempts to enhance education effectiveness we provide a sketch of a new production theory for sectors where techniques are poorly articulated and idiosyncratic

modeling multiple outputs in educational production functions for some time now economists have conceptualized learning as a production process most educational production functions specify only one output usually a measure of cognitive achievement some recent studies have recognized the multidimensional aspects of schooling specifying outputs in both the cognitive and affective domains introducing multiple outputs into the production function raises interesting theoretical and empirical issues one issue is the manner in which various outputs are interrelated how one models output interactions in educational production functions may be important are the outputs multiple products if so are they independently or simultaneously produced or are the outputs joint products answers to these questions may affect empirical estimates of the educational production function s this paper briefly describes how one might approach this problem we argue on conceptual grounds that modeling outputs in the cognitive and affective domains as joint products is preferable in addition we compare the three approaches empirically to evaluate the sensitivity of educational production function parameter estimates to output specification

partial fiscal decentralization reforms and educational outcomes a difference in differences analysis for spain abstract several arguments derived from fiscal federalism theory suggest that decentralization may improve the provision of public goods and services however theory remains inconclusive regarding these effects under partial decentralization the aim of this study is to examine this hypothesis by evaluating the effects on educational outcomes of the partial fiscal decentralization reform that took place in spain during the 1980s since education competences were devolved to the regions at different points in time we can consistently estimate the effects of this reform by applying the differences in differences method and by using the non decentralized regions as the comparison group we find that the reform had a sizeable impact on the percentage of students dropping out early from school the effects are much stronger for regions with a high level of revenues we also find that the effects are concentrated in the high school program and that the reform was not able to improve educational outcomes in the vocational program we interpret these results as evidence that decentralization improved the match between education policy and population preferences

economic resilience of the firm a production theory approach abstract as a result of catastrophic events firms and other organizations are faced with input shortages and price shocks firms can respond to these events using a variety of resilience actions or tactics here we provide a microeconomic foundation for analyzing a comprehensive range of these tactics incorporating both inherent and adaptive concepts of resilience we classify these tactics and derive optimality conditions for production with the use of each class of resilience in the context of a nested constant elasticity of substitution ces function consisting of aggregated capital k labor l infrastructure i and materials m the framework has broad applicability including measurement and scoring of resilience cost effectiveness assessment of resilience tactics individually and as a group calculation of resilience indices and supply chain management

schooling and economic well being the role of nonmarket effects standard estimates of the economic value of additional schooling based on earnings differences associated with differences in the level of schooling attained cover only a portion of the total effects of education that are valued by citizens we first identify a catalog of nonmarketed effects many of which have been recently studied by economists and then propose a procedure for estimating a willingness to pay value for these effects using empirical estimates of the magnitude of a selection of these effects found in the literature we calculate willingness to pay values using our proposed procedure these illustrative calculations suggest that standard estimates of the benefit of incremental schooling substantially understate the full value of such investments

measuring the efficacy of inventory with a dynamic input output model abstract this paper extends the recently developed dynamic inoperability input output model diim for assessing productivity degradations due to disasters inventory policies are formulated and incorporated within the diim to evaluate the impact of inventories on the resilience of disrupted interdependent systems the inventory diim can provide practical insights to preparedness decision making through explicit tradeoff analysis of multiple objectives including inventory costs and economic loss reductions the model is demonstrated in several illustrative examples to depict various nuances of inventory policies the paper then culminates in a case study that utilizes input output and inventory accounts from the bureau of economic analysis

costs efficiency and economies of scale and scope in the english higher education sector an understanding of the production and cost technology of higher education institutions is of considerable policy interest as it motivates the structure of the sector how large universities should be and what mix of outputs they should produce we review the literature and using data for english institutions in 2013 14 apply appropriate frontier methods to model the structure of costs in this diverse sector in doing so we uncover information about the returns to scale and scope within the higher education sector in particular the class of institutions comprising larger research intensive universities and small specialist institutions could benefit from further concentrating postgraduate and research activity we find that the universities comprising the english higher education sector are largely efficient measured relative to observed practices and that there is little scope for gains in technical efficiency from allocating resources on the basis of efficiency scores

a fuzzy linear programming enterprise input output model for optimal crisis operations in industrial complexes abstract industrial complexes may be subject to significant risk of cascading failure caused by various disruptions and emerging economies are potentially more susceptible to the impacts as less established policies are in place to deal with these issues in particular there is a need to develop adaptation strategies to ensure the resilience of industrial activities to various perturbations that may result from climate change the inherent complexity of such systems makes decision making for risk management a non trivial task that is best facilitated with the aid of mathematical models enterprise input output models have been used extensively to model production systems at different scales in this work a fuzzy linear programming enterprise input output model is developed to determine optimal adjustments in production levels of multi product systems when a crisis is induced by a loss of resource inputs the model allows for adjustments that are equitable for different decision makers that may comprise an industrial complex or a supply chain capabilities of the model are illustrated with a case study on the effect of water shortage on an aluminum production system

anticipating the consequences of school reform a new use of dea we use dea type linear programming techniques to simulate a basic component of educational reform eliminating restrictions on the allocation of school personnel our technique allows us to identify potential output gains or equivalently potential cost savings from reform we can also identify which personnel groups are likely to gain and lose under this reform when we apply our model to a sample of texas school districts we find evidence that the educational establishment has substantial economic rents to protect from school reform and that the primary beneficiaries of reform are likely to be affluent school districts with few minority students the technique which relies on the relationship between the direct and indirect distance functions can be easily generalized to measure the potential gains from removing other input restrictions such as union work rules environmental regulations or deed restrictions

actual labor values in a general model of production in contrast to counterfactual linear programming definitions of labor values this chapter introduces an at least equivalent definition of such values for the general case of joint production which is exclusively based on actual data this task is accomplished by extending marx s concept of individual values from multiple activities to joint production by means of certain price ratios at those points where production data are insufficient to ensure the positiveness of embodied labor time our approach generalizes the simple formula that relates labor values to monetary input output tables and it reformulates the labor theory of value in such a way that the theoretical priority of the case of a uniform composition of capital is reaffirmed in the concluding pages of his book marx s economics it is suggested by morishima that marxian economists ought radically to change their attitude towards the labor theory of value since in general the value system of the methods of production actually adopted in a capitalistic economy may be determined to be negative indefinite or even contradictory to the postulate of the uniform rate of exploitation morishima 1973 p 193 he then continues by proposing that optimal labor values the shadow prices of certain linear programming problems which minimize the amount of labor needed to produce given bundles of net output should take the place of actual labor values when production models of a more general kind than the simple leontief model are to be considered an interpretation of labor values which has been worked out in detail in morishima 1974 and has become a widely accepted approach to labor values and the labor theory of value for all types of multiple production systems

the economics of schooling production and efficiency in public schools n recent years public and professional interest in schools has been heightened by a spate of reports many of them critical of current school policy these policy documents have added to persistent and long standing concerns about the cost effectiveness and fairness of the current school structure and have made schooling once again a serious public issue as in the past however any renewed interest in education is likely to be short lived doomed to dissipate as frustration over the inability of policy to improve school practice sets in this frustration about school policy relates directly to knowledge about the educational production process and in turn to underlying research on schools although the educational process has been extensively researched clear policy prescriptions flowing from this research have been difficult to derive 2 there exists however a consistency to the research findings that does have an immediate application to school policy schools differ dramatically in quality

school decentralization helping the good get better but leaving the poor behind abstract the decentralization of public services is a major feature of institutional innovation the main argument in support of decentralization is that it brings decisions closer to the people thereby alleviating information asymmetries and improving accountability however decentralization can also degrade service provision in poor communities that lack the ability to voice and defend their preferences in this paper we analyze the average and distributional effects of school decentralization on educational quality in argentina we find that decentralization had an overall positive impact on student test scores the decentralization gains however did not reach the poor thus although bringing decisions closer to the people may help the good get better the already disadvantaged may not receive these benefits

one million miles to go taking the axiomatic road to defining exploitation this paper analyses the marxian theory of exploitation a general axiomatic approach is developed which is appropriate to study the concept of exploitation what it is and how it should be captured empirically two properties are presented that capture some fundamental marxian insights it is shown that contrary to the received view there exists a nonempty class of definitions of exploitation that preserve the relation between exploitation and profits called profitexploitation correspondence principle in general economies with heterogeneous agents complex class structures and production technologies with heterogeneous labour inputs however among the main approaches only the so called new interpretation satisfies the profitexploitation correspondence principle in general jel b51

the efficiency of german universities some evidence from non parametric and parametric methods due to tight public budget constraints the efficiency of publicly financed universities in germany is receiving increasing attention in the academic as well as in the public discourse against this background we analyse the efficiency of 72 public german universities for the years 1998 2003 applying data envelopment and stochastic frontier analysis contrary to earlier studies we account for the faculty composition of universities which proves to be an essential element in the efficiency of higher education our main finding is that east german universities have performed better in total factor productivity change compared to those in west germany however when looking at mean efficiency scores over the sample period west german universities still appear at the top end of relative efficiency outcomes

the transient and persistent efficiency of italian and german universities a stochastic frontier analysis despite measures on the european level to increase the compatibility between the higher education sectors the recent literature exposes variations in their efficiencies to gain insights into thes

the effect on black white wage differences of differences in the quantity and quality of education using data from the national longitudinal survey of youth for the years 1979 88 the author examines the extent to which black white differences in educational attainment educational quality and unmeasured individual ability can explain black white wage differences an analysis that corrects for both selectivity and ability biases inherent in estimating the education wage relationship shows that the main source of the black white wage differential is the racial difference in the quality rather than quantity of schooling in fact the author concludes closing the racial gap in the basic skills learned in school could reduce the wage differential by two thirds

intergenerational transfers production and income distribution abstract we consider an overlapping generations economy where the aggregative production process uses physical capital and human capital intergenerational transfers from parents to their children are motivated by altruism we distinguish between two types of transfers investment of parents in the education of their offspring and capital transfer the gift bequest motive we show that the intensity of each type of altruism and hence the composition of the two types of transfers affect significantly the equilibrium output and the intragenerational income distributions comparing competitive equilibria from the same initial distributions of capital transfers and human capital we derive a the economy with the higher education inclined altruism attains lower output and more equal intragenerational income distributions if either the production function s elasticity of substitution is not large or the altruism is weak b for more bequest inclined altruism the effects are usually reversed c under public provision of education higher bequest inclined altruism results in lower output and less equal distribution of income in all dates

value price and exploitation the logic of the transformation problem this paper tries to clarify the logical structure of the relationship between labor values and prices from an axiomatic perspective the famous transformation problem is interpreted as an impossibility result for a specific interpretation of value theory based on specific assumptions and definitions a comprehensive review of recent literature is provided which shows that there are various theoretically relevant and logically consistent alternative interpretations based on different assumptions and definitions

the possibility of social choice the subject of social choice includes within its capacious frame various problems with the common feature of relating social judgments and group decisions to the views and interests of the individuals who make up the society or the group some challenges and foundational problems faced by social choice theory as a discipline are discussed social choice theory is a subject in which formal and mathematical techniques have been very extensively used voting based procedures are entirely natural for some kinds of social choice problems such as elections referendums or committee decisions they are however altogether unsuitable for many other problems of social choice impossibility results in social choice theory led by the pioneering work of arrow 1951 have often been interpreted as being thoroughly destructive of the possibility of reasoned and democratic social choice including welfare economics that view is argued against

p graph approach for gdp optimal allocation of resources commodities and capital in economic systems under climate change induced crisis conditions abstract climate change impacts may manifest via multiple pathways often leading to a shortage of resources reduction in production capacities or reduction in available labor inputs that are vital for economic activities effective climate change adaptation strategies are needed to determine the optimal allocation of scarce resources commodities or capital under crisis conditions to minimize the economic consequences in such cases it is necessary to account for structural properties of economic systems to ensure that rational distribution policies are implemented input output models are used to illustrate interdependencies among economic sectors and to assess both direct and indirect effects of disruptive events alternatively these interdependencies may be exploited for developing effective recovery efforts to minimize the ripple effects of a crisis in this paper a process graph representation of the input output model is developed to generate a rational procedure for the allocation of scarce resources commodities or capital during crisis conditions the process graph model is a graph theoretic approach originally developed for chemical process design applications the analogous problem structure allows it to be used for the input output system the method is demonstrated through several case studies to identify allocation policies geared towards reducing the impact of disruptions attributed to critical resources commodities or capital results show that depending on the economic structure the optimal allocation of scarce resources commodities or capital will satisfy the final demands of some economic sectors and reduce the production capacity of others in order to minimize the reduction of total gross domestic product though similar results can be obtained through traditional mathematical programming models the process graph platform has the advantage to visually present the distribution of scarce resources commodities or capital within the system this work is a first attempt to implement the process graph approach in the fields of economics and climate change adaptation in conclusion the process graph based approach developed in this work can be used to provide policymakers with insights in developing appropriate risk mitigation plans associated with climate change induced crisis conditions potential applications include both the development of disaster preparedness measures for anticipated disruptions as well as the implementation of real time emergency response in the midst of a crisis

schools and housing values this study combines historical and quantitative methods to determine the market response to a major nineteenth century american urban architectural form the speculatively built row house the paper estimates a hedonic price index which decomposes the

class and exploitation in general convex cone economies abstract in this paper we examine what appropriate formulations for labor exploitation are in order to explain the emergence of class and exploitation status in capitalist economies given the well known controversy pertaining to plausible formulations for labor exploitation in joint production economies we propose an axiom axiom for labor exploitation le which every appropriate formulation of labor exploitation should satisfy using this axiom the necessary and sufficient condition for plausible formulations of labor exploitation is characterized to verify class exploitation correspondence principle cecp roemer 1982 according to this cecp no longer holds in general convex cone economies if the well known formulations of labor exploitation such as morishima 1974 and roemer 1982 chapter 5 are applied therefore we propose two new definitions of labor exploitation each of which verifies cecp

best practice benchmarking in uk higher education new nonparametric approaches using financial ratios and profit efficiency methodologies the neglected issue of using profit efficiency for the best practice benchmarking of uk universities is explored to see whether this supports the policy stance of encouraging more specialized university production the article also investigates whether nonparametric modelling with financial ratios in contrast to nonparametric modelling based on the prices and quantities of each university s inputs and outputs can yield ready insights into this profit efficiency issue the empirical results using two new approaches confirm that more specialized university production yields relatively higher performance on average than less specialized production the results also highlight certain advantages of financial ratios modelling

the benefits of higher education a comparison of universities and polytechnics the binary divide between the universities and polytechnics is ending should university teaching become more like polytechnic teaching or do the older universities provide a better model for the expanded university sector polytechnic teaching is often regarded as being cheaper but one should not look at the costs without also looking at the benefits one obvious measure of these is given by a comparison of the incomes earned by the gradu ates of the two types of institutions

on the contract curve a test of alternative models of collective bargaining the traditional model of collective bargaining confines unions to settlements constrained by the employer s labor demand curve but an alternative model places wage employment outcomes on a contract curve that extends beyond the labor demand curve this paper derives a multidimensional hedonic contract curve model in which employment security provisions are used to maintain efficient bargains outside the employer s demand curve and distinguishes empirically between the contract curve and demand constraint models using data for public school teachers in new york state estimates clearly support the contract curve model over the demand constraint model by linking the gap between compensation and the value of the marginal product to the strength of employment security provisions

heterogeneous labour and the fundamental marxian theorem as was pointed out by morishima at the end of his famous book on marx s economics the heterogeneity of labour is a serious dilemma for marx s theory of exploitation especially for the so called fundamental marxian theorem the problem which should be separated from the peculiarities of joint production consists in finding an appropriate reduction of the various types of labour to one common unit recently bowles and gintis have undertaken an interesting reformulation of the marxian theory of value with respect to heterogeneous labour by avoiding any reduction at all bowles and gintis 1977 1978 cf also steedman 1977 holliinder 1978 but for the purpose of the fundamental marxian theorem this only shifts the problem from the heterogeneity of labour to the heterogeneity of the respective rates of exploitation the aim of the present paper is to extend the fundamental marxian theorem without joint production from homogeneous to heterogeneous labour section 3 this extension is based on a new concept called the standard reduction of labour because of its dual relationship to sraffa s standard commodity section 2 for some arguments a certain type of matrices called sraffa matrices is needed which generalize the quasiirreducible matrices as introduced by bowles and gintis appendix standard reduction implies always a uniform rate of exploitation whereas the same is true for the reduction by wage rates only in special cases for example uniform consumption labour inputs only prices proportional to labour values for the first two cases cf morishima 1978 hence in general standard reduction and reduction by wage rates are different

input output models for the analysis of a local global supply chain abstract a supply chain can be analysed as a network of production processes which can be localised within and outside a given geographic area each process can be defined as a system that produces output flows in consequence of input flows in this paper an input output approach based on production processes is used to develop specific models that investigate flows among production processes either of a whole global supply chain or of a part of the supply chain localised within a given area local by product and waste outputs are also considered the developed models can help improve design and management of supply chains also in terms of sustainable development of a local area in fact this use of the input output analysis entails a deeper understanding of the relationships among the processes and the environment

a technically level playing field profit efficiency analysis of enforced competition between publicly funded institutions abstract the study demonstrates how recent advances in the data envelopment analysis dea of profit efficiency and in combining dea and stochastic frontier analysis sfa to measure producer performance can be used to obtain a technically level playing field profit efficiency performance measure a three stage analysis is used to provide an empirical investigation of public sector universities facing regulatory pressures to attain both profit efficiency and output quality stage one employs directional distance function analysis to decompose dea profit efficiency measures into technical and allocative components as these performance measures incorporate the impacts of managerial inefficiency the operating environment and luck statistical noise stage two applies sfa to total radial and non radial slacks to obtain a degree of disentanglement from the latter two impacts the stage two results are used to define a common environment and common luck scenario thus permitting university producers inputs to be adjusted so as to reflect operation within this more level playing field scenario stage three recomputes the first stage dea for this scenario to yield an input focused technically level playing field measure of profit efficiency that unifies the regulatory financial audit and output quality indicators in a single best practice benchmarked performance measure

the quality of schooling quantity alone is misleading although much research discusses the quantity of schooling as an effective impact on productivity and earnings most such research leaves out the idea of the quality of schooling which may cause biases in the estimated returns to schooling this paper consequently attempts to extend the standard mincerian approach to incorporate school quality as well as quantity it demonstrates how exclusion of quality in the standard procedure may cause biases in the estimated returns to years of schooling probably in the upward direction the paper explores the implications of this extension of the standard model for the case of young brazilian males it shows that the estimate of the private return to years of schooling using the preferred quality inclusive specification is only one half the estimate using the standard procedure indicating substantial upward bias in the standard estimates it further outlines a method for estimating a social return to quality and finds that it exceeds substantially the social return to quantity the paper then shows why this in turn suggests there may be an equity productivity trade off in schooling investments

a progress report on marxian economic theory on the controversies in exploitation theory since okishio 1963 this report explores the development of exploitation theory in mathematical marxian economics by reviewing the main controversies surrounding the proper definition of exploitation since the contribution of okishio the report first examines the debates on the fundamental marxian theorem and class exploitation correspondence principle developed mainly in the 1970s and 1980s followed by the property relation theory of exploitation by roemer then the more recent exploitation theory proposed by vrousalis and wright is introduced finally the report introduces and comments on recent axiomatic studies of exploitation by focusing on the work of veneziani and yoshihara

the dynamics of inequalities and unequal exchange of labor in intertemporal linear economies abstract introducing a concept of fairness of economic allocations namely exploitation as the unequal exchange of labor henceforth ue exploitation by generalizing roemer s 1981 1982a seminal models this paper aims to answer the following two questions in the context of an intertemporal economy with linear technology how is income and wealth inequality related or unrelated to the existence and persistence of ue exploitation what are the mechanisms driving the persistent existence of ue exploitation in growing economies agents are ue exploited resp exploiters if the amount of labor that they contribute to the economy is bigger resp smaller than the amount of labor received by them via their income it is proved first that ue exploitation is monotonically correlated to functional income inequality second it is shown that unless agents discount the future asset inequalities are necessary but not sufficient for the persistence of ue exploitation and capital accumulation leading to the disappearance of ue exploitation cannot be ruled out in equilibrium third it is shown that regardless of whether agents discount the future labor saving technical progress may yield sustained growth with persistent ue exploitation by keeping labor abundant relative to capital which restrains wages from rising unlike in models with differentiable production functions this mechanism does not rely on changes in the marginal productivity of inputs and it is entirely driven by the interaction between innovation and labor markets

estimating the economic impacts of power supply interruptions abstract the cost of power system rationing which is a crucial parameter for determining optimal resilience investments is usually estimated using reduced form linear models or ordinary input output analysis however such methods do not properly address either consumers rational reactions to rationing policy or policy design nonlinearities to solve this problem this paper estimates the effects of power system rationing using a general equilibrium model the model solution shows that the power cut distribution among industries is a critical variable for quantifying policy effects and provides insights into optimal policy design