Research
Among his better-known contributions are the theory of contestable markets, the Baumol-Tobin model of transactions demand for money, Baumol's cost disease, which discusses the rising costs associated with service industries, and Pigou taxes. His research on environmental economics recognized the fundamental role of non-convexities in causing market failures.
Read more about this topic: William Baumol
Famous quotes containing the word research:
“Feeling that you have to be the perfect parent places a tremendous and completely unnecessary burden on you. If we’ve learned anything from the past half-century’s research on child development, it’s that children are remarkably resilient. You can make lots of mistakes and still wind up with great kids.”
—Lawrence Kutner (20th century)
“The great question that has never been answered, and which I have not yet been able to answer, despite my thirty years of research into the feminine soul, is “What does a woman want?””
—Sigmund Freud (1856–1939)
“The research on gender and morality shows that women and men looked at the world through very different moral frameworks. Men tend to think in terms of “justice” or absolute “right and wrong,” while women define morality through the filter of how relationships will be affected. Given these basic differences, why would men and women suddenly agree about disciplining children?”
—Ron Taffel (20th century)