Joel Dean (economist)
Joel Dean (1906–1979) was an American economist best known for his contributions to corporate finance theory in general, and particularly to the area of capital budgeting.[1] He is regarded as one of the founders of business economics. His work on pricing remains influential in marketing.[2]
Biography
Dean was born in
doctoral dissertation discussed "A Statistical Examination of the Behavior of Average and Marginal Cost".[1] He was one of the founders of business economics with his Managerial Economics (1951)[3] and Capital Budgeting (1951)[4]
His research covered
He taught at
Journal of Industrial Economics and the Journal of Marketing
for many years.
Cost functions
Dean discoveredbased on observation).[12]
It is thought[market price also fails.
[13][14][15]
Selected works
Joel Dean's best known work is Capital Budgeting (New York: Columbia University Press, 1951.
ISBN 0-231-01847-9
). His Statistical Cost Estimation (Indiana University Press, 1976), by contrast, is a forgotten book, perhaps for the reasons outlined above.
Other publications include:
- "Does Advertising Belong in the Capital Budget?" Journal of Marketing, Vol. 30, No. 4., October 1966.
- "Pricing Policies for New Products". Harvard Business Review, Nov 1976.
- "An Approach to Internal Profit Measurement." National Accounting Association Bulletin, March 1958.
- "Better Management of Capital Expenditures through Research." Journal of Finance, May 1953.
- "Break-Even Analysis and the Measure of Capital Productivity." Advanced Management, April 1955.
- "Cost Structures of Enterprises and Break-Even Charts", The American Economic Review, 38(2) pp. 153–164, 1948.
References
- ^ a b c Foundations of Business Economics: The Contributions of Joel Dean Walter J. Primeaux, Karen Fortin; University Presses of Florida, 1984
- ^ Collection of groundbreaking writings in the field of advertising Archived 2007-10-11 at the Wayback Machine, Dr. A. Murdoch, SGH; www.netmba.com
- ^ Joel Dean. Managerial Economics. Pp. xiv, 621. New York: Prentice-Hall, Inc., 1951.
- ^ Joel Dean. Capital Budgeting: Top Management Policy on Plant, Equipment, and Product Development. 174pp. Columbia University Press, (June) 1951.
- ^ Capital Budgeting (New York: Columbia University Press, 1951.
- ^ Great Moments in Financial Economics: Present value Archived 2007-07-13 at the Wayback Machine, Prof. Mark Rubinstein.
- ^ R.H. Parker. Discounted Cash Flow in Historical Perspective. Journal of Accounting Research 6(1): 58-71. 1968.
- ^ Johnson, H.T. and Kaplan R.S. Relevance Lost: The Rize and Fall of Management Accounting, Harvard Business School Press, 1988. Chapter 7.
- ^ Joel Dean 1936 "Statistical determination of cost, with special reference to marginal cost" The University of Chicago Press, Chicago-Ill.
- ^ Joel Dean 1941 The Relation of Cost to Output for a Leather Belt Shop Published by NBER.
- ^ Joel Dean 1976 "Statistical Cost Estimation", Indiana University Press.
- ^ Richard A. Miller 2001 "Firms' Cost Functions: A Reconstruction," Review of Industrial Organization 18(2) 183-200.
- ^ Hans Apel 1948 Margianl Cost Constancy and its Implications. The American Economic Review 38(5): 870-885.
- ^ R. B. Heflebower 1955 Full cost, Cost Changes, and Prices. in NBER (Ed.) Business Concentrateion and Price Policy, Princeton University Press. https://www.nber.org/chapters/c0969
- ^ Frederic S. Lee 1984 The Margianlist Controversy and the Demise of Full Cost Pricing, Journal of Economic Issues 18(4): 1107-1132.
External links
Wikiquote has quotations related to Joel Dean.
- Foundations of Business Economics: The Contributions of Joel Dean Karen Fortin and Walter J. Primeaux, University Press of Florida, 1984.
- The Search For Intrinsic Value: Some Selected Moments in the History of DPV, Professor Eric Kirzner, Rotman School of Management
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