This economist created a model whose convergent case occurs when the demand curve is more elastic than the supply curve, and whose divergent case occurs when the opposite is true. A growth model formulated by this man specifies a "technical progress function" dependent on the rate of capital accumulation. This coiner of the term "convenience yield" assisted Gunnar Myrdal in refining the theory of circular cumulative causation. This man posited th
This economist created a model whose convergent case occurs when the demand curve is more elastic than the supply curve, and whose divergent case occurs when the opposite is true. A growth model formulated by this man specifies a "technical progress function" dependent on the rate of capital accumulation. This coiner of the term "convenience yield" assisted Gunnar Myrdal in refining the theory of circular cumulative causation. This man posited that real wage and capital per workers grow over time, whereas output per worker, capital/output ratio, rate of return to capital, and share of capital and labor in net income are constant, in a set of six observations that popularized the term (*) "stylized fact." This developer of the cobweb model is the alphabetically later formulator of a metric that accounts for those who are made better off by an action compensating those who are worse off, thus having less stringent criteria than Pareto efficiency. For 10 points, name this Cambridge economist who names a type of efficiency with John Hicks.
This economist created a model whose convergent case occurs when the demand curve is more elastic than the supply curve, and whose divergent case occurs when the opposite is true.