, Vice President of Government and Community Relations, NV Energy
7) Milgrom and Stokey
(1982) independently established similar results to those in Tirole (1982), although they framed their findings in terms of speculative trading rather than bubbles.
By Finn Kydland, Bjorn Lomborg, Tom Schelling and Nancy Stokey
As a consequence, there would be no variation in the number of products produced, though as in Stokey
(1988), the spectrum of products produced might change over time.
The recursive framework implicated in various economic decision problems requires dynamic programming, which is then, in combination with modern general equilibrium theory, utilized to developed tractable models of dynamic economic systems, as exemplified by Stokey
, Lucas and Prescott (1989).
1998; Nayar and Kaur, 1971; Stokey
and Atkinson, 1957).
The proposition further states that models of firms that meet these conditions fulfill the requirements for the existence theorems outlined in Stokey
and Lucas [1989, chapter 4].
and Lucas also integrated R&D based growth models; Young (1991) modeled this.
Packard and Roger Stokey
worked on software--fine-tuning REMUS shark-approach tactics and eliminating the transponder's blind spots.
The exceptions are Stokey
(1995) and Benassy (1998) who, in models with scale effects, found that for more general preferences or production, overinvestment in R&D can occur.
Sparrow, The Regulatory Craft: Controlling Risks, Solving Problems, and Managing Compliance 53-64, 155-70 (2000) (discussing client service approach and problem-solving infrastructure of an agency); Edith Stokey
& Richard Zeckhauser, A Primer for Policy Analysis 74-88, 201-54 (1978) (describing client service and decision-making protocol of organizations); John D.
see also Green & Stokey
, 1983; Malcomson, 1984; Kordana, 1995) Second, Gilson and Mnookin (1985, 1989), in their application of Portfolio Theory and Agency Costs to large law firms, observe how lawyers can mitigate the risks of specialisation and attendant fluctuations in income through a 'sharing bargain' with lawyers in other areas of specialisation (1985: 338).