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

Winston, Gordon C.

Hardcover

ISBN 10: 0521247209 ISBN 13: 9780521247207

Publisher: Cambridge University Press, 1982

Synopsis

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.

About this title

Book Description:

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.

About this edition

• Publisher: Cambridge University Press
• Publication date: 1982
• ISBN 10: 0521247209
• ISBN 13: 9780521247207
• Binding: Hardcover
• Number of pages: 359