Wealth is defined as one that has 'Value in Exchange' and 'Value in use'. Accountants, in financial statements show items like goodwill, loss and depreciation that may/maynot have 'Value in exchange'. Who is right? Mathematics has an answer. Can we add 2a and 3a? Yes. Can we subtract 2a from 7a?...

Law of Conservation is a universal Law and applies to mass, energy and wealth alike. When wealth is changed from one form to the other, the value of transferee form of wealth equals value of transferor form of wealth. This leads to inferance that wealth can neither be created nor be destroyed...

Economists say that Law of Equilibrium applies to systems of wealth as well. There is no clear idea as to how this Law operates. In systems of matter and energy equilibrium is reached by movement of matter/energy from higher level/concentration to lower concentration. Similar process operates in...

The branch of science (or Economics) that deals with nature, properties, laws and classification of wealth is yet to be named. This branch of science is a mirror image of chemistry. The utility ( I call utility as all that a human being needs) is similar to water. The utility complex of every...

This paper explores the links between matching, ranking, rating, Elo- rating, logit modeling, Rasch modeling, Item-Response Theory (IRT), voting, aggregation, and the like. These issues arise e.g. when testing students, or rating web pages or scientific papers. The analysis is at a very basic...

This paper addresses the issue of identifying optimal mix of teaching methods for an instructor when students are of heterogeneous types. The exact student type cannot be identified ex ante which forces the instructor to act impartially and allocate teaching methods according to some...

The use of pay-back period analysis for economic evaluation of solar photovoltaic (PV) system reinforces the importance of the duration of the system. In a dynamic economic environment, the cost of energy increases at a faster rate than the common inflation rate. A time can be ascertained at...

Rewards for publications in good economics journals are very high, while submission fees and other monetary costs associated with submitting an existing manuscript are low. Consequently, the editorial delay (especially the first response time – the time until the first editorial decision), by...