- In economics, the
Baumol effect, also
known as
Baumol's cost disease,
first described by
William J.
Baumol and
William G.
Bowen in the 1960s, is the tendency...
-
William Jack
Baumol (February 26, 1922 – May 4, 2017) was an
American economist. He was a
professor of
economics at New York University,
Academic Director...
- The
Baumol–Tobin
model is an
economic model of the
transactions demand for
money as
developed independently by
William Baumol (1952) and
James Tobin (1956)...
-
contestable markets, ****ociated
primarily with its 1982
proponent William J.
Baumol, held that
there are
markets served by a
small number of
firms that are...
- (1877–1959), who also
developed the
concept of
economic externalities.
William Baumol was
instrumental in
framing Pigou's work in
modern economics in 1972. In...
- and that
public interest would dictate more
spatial dispersion.
William Baumol provided in his 1977
paper the
current formal definition of a
natural monopoly...
- (p. 810).
Baumol linked the
definition to the
mathematical concept of subadditivity; specifically,
subadditivity of the cost function.
Baumol also noted...
-
average rate of
industrial profit therefore declines in the
longer term.
Baumol effect Brownfield land
Center for
Labor and
Community Research Comparative...
-
example of an
economic model that is
based on such
considerations is the
Baumol-Tobin model. In this
model an
individual receives her
income periodically...
- of production, but they are not
sufficient for
economic growth.
William Baumol wrote in
American Economic Review that "The
theoretical firm is entrepreneurless...
