Purpose – The purpose of this paper is to examine the possibility of using non-income indicators and the self-organizing map (SOM) approach as an alternative analytical tool to map countries' welfare status. Design/methodology/approach – Using data from 27 countries of the East Asia-Pacific...

Purpose – The purpose of this paper is to examine the possibility of using non-income indicators and the self-organizing map (SOM) approach as an alternative analytical tool to map countries' welfare status. Design/methodology/approach – Using data from 27 countries of the East Asia-Pacific...

All the progress made by the economists who established the theory of welfare, are based on the needs for the progress in engineering that marked out the era of the industrial revolution. All the models that go along with these theories are based on the science of engineering and contributed at...

A fundamental question in monopolistic competition theory is whether the market allocates resources efficiently. This paper generalizes the Spence-Dixit-Stiglitz framework to heterogeneous firms, addressing when the market provides optimal quantities, variety and productivity. Under constant...