Although principles underlying binary economics were first published in 1958 (Kelso and Adler), the many books and papers that discuss the subject, with the exception of Kane (2000) and Kurland (2001), do not utilize conventional economics language. To facilitate the teaching of binary economics in beginning and intermediate college courses in economics and business, the paper explains some maj...

What happens when the bottlenecks that stand between supply and demand in our culture go away and everything becomes available to everyone? The Long Tail is a powerful new force in our economy: the rise of the niche. As the cost of reaching consumers drops dramatically, our markets are shifting from a one-size-fits-all model of mass appeal to one of unlimited variety for unique tastes. From sup...

European countries are much more generous to the poor relative to the US level of generosity. Economic models suggest that redistribution is a function of the variance and skewness of the pre-tax income distribution, the volatility of income (perhaps because of trade shocks), the social costs of taxation and the expected income mobility of the median voter. None of these factors appear to expla...

The Kish key distribution system has been proposed as a classical alternative to quantum key distribution. The idealized Kish scheme elegantly promises secure key distribution by exploiting thermal noise in a transmission line. However, it is vulnerable to nonidealities in its components, such as the finite resistance of the transmission line connecting its endpoints. We introduce a novel attac...

In this paper, a distributed method for reactive power management in a distribution system has been presented. The proposed method focuses on the voltage rise where the distribution systems are equipped with a considerable number of photovoltaic units. This paper proposes the alternating direction method of multipliers (ADMMs) approach for solving the optimal voltage control problem in a distri...

The problem of hypothesis testing of the location parameter of the two-parameter exponential distribution and scale parameter of the pareto and uniform distribution are considered. We construct the test statistics based on Ranked Set Sampling (RSS) and Extreme RSS (ERSS) and compared their powers to the power of Uniformly Most Powerful (UMP) test by numerical computation. The results show that ...