For the past twenty-five years, Dusansky and his associated co-authors have published a longseries of papers which are based on the same price-dependent utility function. The alleged price dependence, however, is fictitious in the sense that the level of exogenous money income can replace the...

The introduction of real-cash balances into the neoclassical model of the consumer wrecks havoc, in general, on the empirically observable refutable comparative statics properties of the model. We provide the most general solution of this problem to date by deriving a symmetric and negative...

This study estimates rates of deterioration and depreciation for a sample of used privately owned single- and twin-engine aircraft over the period 1971-1991. The adoption of a strict liability standard in the 1970s lead to a 775% increase in liability expenses for the manufacturers of private...