On the Relationship between Historic Cost, Forward-looking Cost and Long-Run Marginal Cost英文.pdfVIP

ON THE RELATIONSHIP BETWEEN HISTORIC COST, FORWARD-LOOKING COST AND LONG RUN MARGINAL COST by William P. Rogerson* Northwestern University October 3, 2005 * I would like to thank Debra Aron, Kathleen Hagerty, Jack Hughes, Volcker Nocke, Stefan Reichelstein, William Sharkey, and Jean Tirole for helpful discussions and comments. ABSTRACT This paper considers a sim