A Geometric Treatment of Averch-Johnson's Behavior of the Firm Model: Comment/Reply

In his March 1970 article in this Review, F. E. Zajac provided a helpful and enlightening graphical exposition of the Averch-Johnson effect. Unfortunately he has made an error in claiming that maximizing the "reward to owners (stockholders)" leads to an indeterminate solution. The difficul...

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Veröffentlicht in:	The American economic review 1972-03, Vol.62 (1), p.140
Hauptverfasser:	Stonebraker, Robert J, Zajac, E E
Format:	Artikel
Sprache:	eng
Schlagworte:	Economic models Mathematical analysis Stockholders
Online-Zugang:	Volltext
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