Choice and costs under uncertainty - Collected works of Armen A. Alchian Vol 1

Armen Alchian has helped found several schools of economic thought and is the founder of the UCLA tradition in economics and one of the most influential voices in the areas of market structure, property rights, and the theory of the firm. Front cover Contents Introduction Introduction to Economic Forces at Work (Ronald H. Coase) Principles of Professional Advancement PART 1 UNCERTAINTY AND INFORMATION COSTS Uncertainty, Evolution and Economic Theory Biological Analogies in the Theory of the Firm: Comment Review of The Investment Decision The Meaning of Utility Measurement Information Costs, Pricing and Resource Unemployment What Is the Best System? Market Value Effects of Take-Overs? An All-or-Nothing Tender of Conjectures Information, Martingales and Prices Why Money? Trading Stamps There Really Is a Free Service Why Brand Names? The Chef, Gourmet and Gourmand PART 2 COST Costs and Outputs Cost Reliability of Progress Curves in Airframe Production PART 3 THE SOURCE AND MEASUREMENT OF INFLATION On a Correct Measure of Inflation Be Wary of the CPI Commission Report! There's Only 1 Cause for Inflation Problems of Rising Prices PART 4 EFFECTS OF INFLATION Effects of Inflation Redistribution of Wealth Through Inflation More Evidence on Inflation-Caused Wealth Redistribution Inflation and Distribution of Income and Wealth Effects of Inflation upon Stock Prices How the Government Gains from Inflation The Meaning and Validity of the Inflation-Induced Lag Real Wages in the North During the Civil War: Mitchell's Data Reinterpreted PART 5 PRICE CONTROLS Review of the Council of Economic Advisers' 1972 Report: A Comment An Introduction to Confusion Abbott and Costello in Washington There's Gas in Your Future Oil Decontrol Windfall: Magical or Real? Energy Economics It's Easy to End Gas Shortage To Be Fair, Let Each Solve His Own Fuel Crisis PART 6 SEMANTICS AND METHODS The Economics of Power Summary Notes on Misleading Economic Jargon Words: Musical or Meaningful? Rent Allocative Efficiency with Edgeworth-Bowley Boxes The Rate of Interest, Fisher's Rate of Return over Costs and Keynes' Internal Rate of Return Linear Progress Curves Are Illusions Linear Progress Curves Are Not Illusions Why the Learning Curve Is Convex on Double Log Scale Review of Dynamic Equipment Policy Meanings and Uses of Equations and Models Review of Essays in Economics and Econometrics: A Volume in Honor of Harold Hotelling Economic Replacement Policy Acknowledgments Summary Contents 1. Introduction 2. Elements of the Replacement Problem 3. Mathematical Formulation 4. Specific Assumptions, Forecasts, and Computations 5. Illustration of Procedure 6. Some Issues Common to All Applications Appendixes (abridged) Analysis Procedures 20. Principles of Statistical Analysis 21. Univariate Analysis 22. Bivariate Analysis 23. Multivariate Analysis Authors Cited Subject Index Back cover V. 1. Choice And Cost Under Uncertainty -- V. 2. Property Rights And Economic Behavior. Armen A. Alchian ; Edited And With An Introduction By Daniel Benjamin.