Financial accounting has emphasized the historical cost approach because of its objectivity. Yet in the event of bankruptcy and liquidation, assets will be liquidated at their market values. In this paper, we compare the probability of insolvency computed using market values to the probability...

The dual relationship between parameters of normalized quadratic cost and profit functions is determined when firms can implement market power on the output market. An approach is developed to test the market power by comparing the profits of a firm with and without market power. Simulations...

The study estimates potential consumer gains from the introduction of High-Iron Rice in the Philippines. By deriving the demand for dietary iron from a national survey on household food consumption and expenditure, we project consumer welfare implications under both non-market and market...

Agricultural economists rely on aggregated data at various levels depending on data availability and the econometric techniques employed. However, the implication of aggregation on economic relationships remains an open question. To examine the impact of aggregation on estimation, Monte Carlo...