This paper examines the social cost of the pharmaceutical industry in South Africa. From a regulatory perspective the industry is seen to exhibit monopoly-like behaviour resulting in monopoly prices on the supply (manufacturing) side and diminished consumption on the demand (consumer) side. The...

This article introduces (and hopes to encourage thereby) the econometrics practitioner to (use) a homoscedasticity test referred to in the field of statistics as the modified Levene test. Econometrics orthodoxy (from University to practice level) has focused mainly on three heteroscedasticity...