Topic
Intermediate good
About: Intermediate good is a research topic. Over the lifetime, 645 publications have been published within this topic receiving 13239 citations. The topic is also known as: semi-finished product & producer good.
Papers published on a yearly basis
1 / 2
Papers
TL;DR: In this paper, the concept, definition and measurement of a service is discussed, and various ways in which services can be classified for purposes of economic analysis are elaborated, and the distinction between private and public goods is re-examined in the light of the general concept of service proposed in the paper.
Abstract: The paper is concerned with the concept, definition and measurement of a service. Although services are often dismissed as immaterial goods, they are not special kinds of goods and belong in a quite different logical category from goods. The search for appropriate units of quantity in which to measure services is not an idle metaphysical pursuit. Without quantity units there can be no prices, and most economic theory becomes irrelevant. Indeed, large parts of economic theory may be irrelevant to the analysis of services anyway, precisely because they are not goods which can be exchanged among economic units. Services are as important as goods in modern developed economies and they need to be identified and quantified properly if the measurement of economic growth and inflation is to have any meaning for the economy as a whole. The concept of a service is explained in some detail in the paper, and various ways in which services can be classified for purposes of economic analysis are elaborated. The distinction between private and public goods, or rather between private and collective services, is re-examined in the light of the general concept of a service proposed in the paper. Externalities are shown to be simply special kinds of services.
852 citations
TL;DR: In this article, it was shown that certain commodities of a pure individual-consumption variety also possess characteristics of pure collective-consumers good, and that when individual consumption goods cannot be provided profitably by private enterprise, it may serve the social welfare to subsidize their production.
Abstract: Certain commodities of a pure individual-consumption variety also possess characteristics of a pure collective-consumption good, 471. — In certain cases when individual-consumption goods cannot be provided profitably by private enterprise, it may serve the social welfare to subsidize their production, 474. — Conclusion, 476.
779 citations
TL;DR: In this article, the authors analyze pricing strategies for digital information goods, such as those increasingly available via the Internet, and show that a monopolist selling information goods in large bundles instead of individually may nearly eliminate this inefficiency.
Abstract: We analyze pricing strategies for digital information goods, such as those increasingly available via the Internet. Because perfect copies of such goods can be created and distributed almost costlessly, any single positive price for copies is likely to be socially inefficient. However, we show that, under certain conditions, a monopolist selling information goods in large bundles instead of individually may nearly eliminate this inefficiency. In addition, the bundling strategy can extract as profits an arbitrarily large fraction of the area under the demand curve for the individual goods while commensurately reducing consumers' surplus. The bundling strategy is particularly attractive when the marginal costs of the goods are very low, when the correlation in the demand for different goods is low, and when consumer valuations for the individual goods are of comparable magnitude. We also describe the optimal pricing strategies when these conditions do not hold; show how private incentives for bundling can diverge from social incentives; and describe a mechanism to recover information about the underlying demand for each individual good. The predictions of our analysis appear to be consistent with empirical observations of the markets for Internet and on- line content, cable television programming, and copyrighted music.
743 citations
TL;DR: In this paper, a dynamic general equilibrium model is developed in which goods are valued according to the characteristics they contain, the set of goods produced in any period is endogenously determined, and learning by doing is the force behind sustained growth.
Abstract: A dynamic general equilibrium model is developed in which goods are valued according to the characteristics they contain, the set of goods produced in any period is endogenously determined, and learning by doing is the force behind sustained growth. It is shown that the set of produced goods changes in a systematic way over time, with goods of higher quality entering each period and those of lower quality dropping out. The model is then used to study the effect of introducing a "traditional" sector in which there is no learning.
579 citations
Posted Content•
TL;DR: The bulk of international commerce consists of trade in intermediate goods, raw materials, and goods which require further local processing before reaching the final consumer as discussed by the authors.Although this has been shown to be beneficial in some cases, it has not always been the case.
Abstract: The bulk of international commerce consists of trade in intermediate goods, raw materials, and goods which require further local processing before reaching the final consumer. Although this has bec ...
350 citations
Related Topics (5)
Performance Metrics
| Year | Papers |
|---|---|
| 2024 | 2 |
| 2023 | 5 |
| 2022 | 9 |
| 2021 | 4 |
| 2020 | 1 |
| 2019 | 9 |