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| Author: | Caputo, M.R. Partovi, M.H. |
| Title: | Intrinsic comparative statics of a general class of profit-maximizing rate-of-return regulated firms |
| Journal: | Oxford Economic Papers
2008 : APR, VOL. 60:2, p. 369-382 |
| Index terms: | companies models |
| Language: | eng |
| Abstract: | This study performs an exhaustive comparative statics analysis of a general rate-of-return regulated, profit-maximizing model of the firm. The resulting comparative statics are set in a positive semi-definite matrix in which each matrix element consists of a product of the A-J effect term and a Slutsky-like expression, thereby permitting the familiar interpretation of a compensated price change. The minimal set of assumptions allows a range of anomalous behaviour including e.g., a reversal of the sign of the A-J effect etc. Mathematical results of the analysis are interpreted with a view to illustrate their intuitive economic significance. |
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