The limits of the utilitarian approach have led to a search for different notions of welfare. The income approach to well-being, in fact, doesn’t account for the diversity in human beings and for the heterogeneities of contingent circumstances. Amartya Sen, looking for broader notions of...

This paper compares profits and consumer surplus under non-cooperation and collusion in the product market when the firms have the option for R&D before production. We show that whether R&D investment would be higher under non-cooperation or product market collusion depends on the R\&D...

Extending and combining concepts from consumer surplus of product availability and personalization strategies under privacy concern we made a model to comprehend and justify the reasons for the increase in the spending on online advertisements. We inductively found that with higher capability to...

Using on-site survey data from Gros Morne National Park in Newfoundland, this paper estimates and compares several truncated count data models of recreation demand. The model that not only accounts for the truncated and overdispersed nature of the data but also for endogenous stratification duet...

Prais (1958) showed that the standard CPI computed by most statistical agencies can be interpreted as a weighted average of household price indexes, where the weight of each household is determined by its total expenditures. In this paper, we analytically decompose the difference between the...

This paper discusses the econometric model of inflation processes in the Republic of Belarus which makes it possible to explain major factors determining the dynamics of the GDP deflator, consumer price index and producer price index during the period 1994 - 2003. For estimation of the model the...