Prices, planners, and producers : an agency problem in Soviet industry, 1928-1950
Harrison, Mark, 1949-. (1998) Prices, planners, and producers : an agency problem in Soviet industry, 1928-1950. Journal of Economic History, Vol.58 (No.4). pp. 1032-1062. ISSN 0022-0507
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Soviet planners developed the “unchanged prices of 1926/27” to facilitate the solution of an agency problem -- the regulation of self-interested producers as they worked to fulfil plans for heterogeneous products denominated in rubles. The system limited but did not eliminate producers’ opportunistic behavior, which took the form of inflating the plan prices of new products. Through the 1930s and 1940s the “unchanged” prices proved resistant to reform, and following their abolition in 1950 the system was soon afterwards reinstated with a new base year. The history of the “unchanged” prices illustrates the limits of command.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HC Economic History and Conditions|
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||Soviet Union -- Economic conditions -- 20th century, Price fixing -- Soviet Union|
|Journal or Publication Title:||Journal of Economic History|
|Publisher:||Cambridge University Press|
|Date:||25 September 1998|
|Page Range:||pp. 1032-1062|
|Access rights to Published version:||Open Access|
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