Elasticities are often estimated from the results of demand analysis. However, drawing inferences from them may involve assumptions that could influence the outcome. In this paper we investigate one of the most common forms of elasticity which is defined as a ratio of estimated relationships and...

The good health of an individual is a combination of uncontrollable factors that includes genetics and random events and controllable factors through the regulation of activities such as smoking, drinking, eating, exercise and other informed choices. Since the work of Grossman (1972) a...

The paper extends the theory of trade unions. In past studies, the union members derive utility exclusively from the consumption of goods produced in markets. We consider the case where the union insider is a member of a household which derives utility both from market produced goods and from a...