Abstract
My aim in this paper is to provide the equivalent of a’ keynote’ address for our Round Table Meeting. Our task is to give an authoritative and up-to-date statement of the theory and the practice of pricing in economies with very diverse economic, social, and political systems. I want, if I can, to define at the outset our field of interest, to identify the issues within this field which are already settled and to set out some of the unresolved issues. In this way our discussions may be more productive.
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Notes
Joan Robinson, Economic Philosophy, London, 1962, p. 22.
Lionel Robbins, The Economic Problem in Peace and War, London, 1947, p. 24.
J. C. March and H. A. Simon, Organizations, New York, 1958, p. 205.
C. J. Hitch and R. N. McKean, RAND Corporation, California, U.S.A., 1960.
See, for example, ‘A Study of Decision-Making within the Firm’, by E. Mansfield and H. H. Wein, Quarterly Journal of Economics, 1958, pp. 515–536. This study concludes from an investigation of railroad decisions that even if the firm aimed at maximum profits and it was known with certainty what the correct decisions for managers to make were, it would be difficult to ensure that each manager in an intermediate position in the firm made the decisions required to earn maximum profits.
J. A. Schumpeter, Capitalism, Socialism and Democracy, 3rd Ed., London. 1950, p. 84.
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© 1966 International Economic Association
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Hague, D.C. (1966). The Task of the Contemporary Theory of Pricing. In: Hague, D. (eds) Price Formation in Various Economies. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-08467-8_1
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DOI: https://doi.org/10.1007/978-1-349-08467-8_1
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