Herbert a Simon Kenneth a Arrow (1 results)
Planning Production, Inventories, and Work Force.
Modigliani, Franco; Charles C. Holt; John F. Muth; Herbert A. Simon [Kenneth A. Arrow]
Published by Prentice-Hall, Englewood Cliffs, NJ, 1960
- Hardcover
- First Edition
- Signed
Seller: Raptis Rare Books, Palm Beach, FL, U.S.A.Raptis Rare Books
Contact seller5-star sellerFirst edition of collection of essays, from the library of Nobel Prize-winning economist Kenneth Arrow, with his signature to the front free endpaper. Octavo, original cloth. Fine in a very good dust jacket. Along with Merton Miller, Franco Modigliani formulated the important Modiglianiâ"Miller theorem in corporate finance (1958…). This theorem demonstrated that under certain assumptions, the value of a firm is not affected by whether it is financed by equity (selling shares) or debt (borrowing money). He was also the originator of the life-cycle hypothesis, which attempts to explain the level of saving in the economy. Modigliani proposed that consumers would aim for a stable level of consumption throughout their lifetime, for example by saving during their working years and spending during their retirement.
