Design of the Data Description Language Processor

The Data Description Language (DDL) is a language for describing the structure of data, and expressing transformations that are to be performed on that data. The DDL Processor is a set of computer programs which interprets DDL statements and generates a computer program to perform the specified transformations. Together the DDL and its Processor provide a utility which can be used to perform jobs such as creating new data bases, reorganizing or extracting data from existing data bases, moving data to different storage devices, interfacing files between different programming languages, or between different operating systems. This report documents the design of the DDL Processor. Special features of the design include the use of special purpose internal languages, compiler-compiler techniques, bootstrapping methods, and a descriptor tree which aids in the parsing of input data

The Impossibility of a Perfectly Competitive Labor Market

Using the institutional theory of transaction cost, I demonstrate that the assumptions of the competitive labor market model are internally contradictory and lead to the conclusion that on purely theoretical grounds a perfectly competitive labor market is a logical impossibility. By extension, the familiar diagram of wage determination by supply and demand is also a logical impossibility and the neoclassical labor demand curve is not a well-defined construct. The reason is that the perfectly competitive market model presumes zero transaction cost and with zero transaction cost all labor is hired as independent contractors, implying multi-person firms, the employment relationship, and labor market disappear. With positive transaction cost, on the other hand, employment contracts are incomplete and the labor supply curve to the firm is upward sloping, again causing the labor demand curve to be ill-defined. As a result, theory suggests that wage rates are always and everywhere an amalgam of an administered and bargained price. Working Paper 06-0

Economic Analysis of Knowledge: The History of Thought and the Central Themes

Following the development of knowledge economies, there has been a rapid expansion of economic analysis of knowledge, both in the context of technological knowledge in particular and the decision theory in general. This paper surveys this literature by identifying the main themes and contributions and outlines the future prospects of the discipline. The wide scope of knowledge related questions in terms of applicability and alternative approaches has led to the fragmentation of research. Nevertheless, one can identify a continuing tradition which analyses various aspects of the generation, dissemination and use of knowledge in the economy