The report provides a literature review on the topic of estimation of demand and supply elasticities. To this end, it starts the discussion by summarizing the main facets of production theory and consumer theory to introduce the concept of elasticities, with examples of different types of...

We propose a method based on the distance function to empirically estimate the social cost arising from rent seeking behaviour in declining industries. Due to import competition, the factors of a particular industry undergo losses in real income, and have incentives to seek protection. In the...

This paper points out that the treatment of utility maximization in current textbooks on microeconomic theory is deficient in at least three respects: breadth of coverage, completeness-cum-coherence of solution methods and mathematical correctness. Improvements are suggested in the form of a...

This paper is a brief review and development of a part of the plenary report in the Moscow Institute of Physics and Technology. Three existing tools of sub-interval analysis (sub-interval arithmetic, incomplete data analysis and images) are reviewed and elements of two new tools (sub-interval...

This paper shows a new optical visualization of demand and supply based on the application of surfaces. The objective of initiating the demand and supply surfaces is to propose the application of multi-dimensional graphs among academics, economists and policy makers in the study of...

The article represents a brief review and development of the plenary report in the Moscow Institute of Physics and Technology. Three existing tools of sub-interval analysis (sub-interval arithmetic, incomplete data analysis and images) are reviewed and elements of two new tools (sub-interval...

The article formulates the information theory of firm, introduces the concept of firm as an operating system, which controls the firm’s operation by the means of the information resources processing, in an analogy with the operating system at a microprocessor in the computing devices,...

This paper examines the relationship between the microeconomics of real-estate and the negative impact of the innate flaws of the 30 year mortgage as it relates to elevated Housing Cost To Income Ratio averages (HCTI). The average borrowers housing expense has risen to approximately 50% of an...

With remittances to the developing countries reaching USD 251 billion in 2007, there has been a recent surge of interest to understand the effective channelization of this flow of remittances for providing a variety of financial services desirable to the poor households in the receiving regions,...

The article presents an original research on 1) the information theory of the board of directors and 2) the strategy creation by the interlocking interconnecting directors in the boards of directors in the firms in an information century. We review the possible structures of the board of...