Anticipations, Business Planning, and the Cycle
- 1 February 1937
- journal article
- Published by Oxford University Press (OUP) in The Quarterly Journal of Economics
- Vol. 51 (2) , 273-297
- https://doi.org/10.2307/1882089
Abstract
I. Business plans based on anticipations, 273.— II. The optimum plan under subjective certainty, 277; its revision when anticipations change, 281; generalisation for monopolistic competition, 283. — III. Uncertainty leads to flexibility in planning, 285; capital-market uncertainty leads to “liquidity,” 290. — IV. Breakdown of anticipations helps explain business cycles, 291.Keywords
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