Hostname: page-component-848d4c4894-wg55d Total loading time: 0 Render date: 2024-05-21T13:53:16.726Z Has data issue: false hasContentIssue false
  • English
  • Français

Capital Utilization and Investment in a «Mixed» Economy

Published online by Cambridge University Press:  17 August 2016

A.P. Hamlin  and
D.F. Heathfield
Get access

Extract

It has become customary to discuss the investment decision of the firm and the capital utilization decision separately. Both topics have commanded considerable attention in recent years (Nickell (1978), Betancourt and Clague (1981) provide good entry points in to the literature) and, at the informal level, the links between utilization decisions and investment decisions have been widely recognised. However, when considering investment decisions more formally, analysts often agree with Nickell that attempting to introduce a utilization dimension makes it « clear that even with just two factors, a specification of the production possibilities is quite tricky given that output will depend on the number of workers using the capital at any given time and also on the number of hours worked by each worker » (Nickell (1978) p. 145).

Type
Part Four: Measurement of Capital Utilisation and Rates of Return
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 50 , Issue 3-4 , 1984 , pp. 331 - 352
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1984 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Betancourt, R., and Clague, C. (1977), The Theory of Capital Utilization in Labour-Managed Enterprises, Quarterly Journal of Economics Vol. 91, pp. 453–467.Google Scholar
Betancourt, R. and Clague, C. (1981), Capital Utilisation, Cambridge University Press.Google Scholar
Estrin, S. (1982), Long-Run Supply Responses under Self-Management, Journal of Comparative Economics, Vol. 6, pp. 363–378.Google Scholar
Hamlin, A.P., and Heathfield, D.F. (1983), Shiftwork and the Choice of Technique under Alternative Maximands, Scandinavian Journal of Economics, Vol. 85, n° 2. pp. 283–294.Google Scholar
Hey, J. (1981), A Unified Theory of the Behaviour of Profit Maximising, Labour Managed and Joint-Stock Firms Operating Under Uncertainty, Economic Journal, Vol. 91, pp. 364–374.Google Scholar
Ireland, N.J. and Law, P.K. (1984), On the Labour Managed Firm with Homothetic Technology, Economic Analysis and Workers’ Management, Vol. 18, pp. 1–13.Google Scholar
Maurice, C. (1971), Factor Price Changes, Profit and Long Run Equilibrium, Western Economic Journal, Vol. 9, pp. 64–77.Google Scholar
Maurice, C. (1972), Long Run Factor Demands in a Perfectly Competitive Industry, Journal of Political Economy, Vol. 80, pp. 1271–1279.Google Scholar
Nickell, S.J. (1978), The Investment Decisions of Firms, Cambridge University Press.Google Scholar
Winston, G. and Mc Coy, T. (1974), Investment and the Optimal Idleness of Capital, Review of Economic Studies, Vol. 41, pp. 419–428.Google Scholar
Vazquez, A. and Puu, T. (1973), Factor Demand Functions in the Long Run Equilibrium, Rivista Internazionale di Science Economiche e Commerciali, Vol. 20, pp. 1209–1229.Google Scholar