Dynamic Shortages and Price Rises: The Engineer-Scientist Case

Kenneth Arrow and William M. Capron

The Quarterly Journal of Economics, 1959, vol. 73, issue 2, 292-308

Abstract: Introduction, 292. — I. Shortages and price rises, 293. — II. Empirical evidence of a shortage in the engineer-scientist market, 296. — III. The process of adjustment in the market, 297. — IV. A model of dynamic shortages and price rises, 299. — V. Dynamic shortage in the engineer-scientist market, 302. — VI. Alternate definitions of a shortage, 305. — VII. Conclusion, 307.

Date: 1959
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