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The role of mathematics in economic analysis is not yet a settled question. Smith, Ricardo, Mill and other eminent classical economists did not use mathematics in their economic theorizations. We have defined classical mathematical economics as the whole body of literature in mathematical treatment of economics originating mainly from the contributions of Cournot, Jevons and Walras. There are ...
How was the term "Neoclassical Economics" introduced to economics and what thoughts does it indicate? Does the current use of this term conform with the original efforts of the founders of it? These are among the questions which have always drawn the attention of economists. The term "Neoclassical Economics" was primarily introduced to the modern economics by Veblen. What he meant by it was the...
Some assert that it is impossible to test preference restrictions against revealed preference. The “goodness” preference restriction simply assumes that one value of a nonmarket good is preferred over another other with any fixed commodity consumption. This paper uses a preference-theoretic methodology to show how goodness can be falsified by revealed preference for compensation-based welfare a...
INTRODUCTION The empirical evidence for the effectiveness of excise tax increases as a tool for tobacco control and for generating government revenue is overwhelming. Although initially this evidence was generated primarily in high-income countries, the past two decades has seen much evidence originating in low-income and middle-income countries. The findings are broadly similar. The answer to ...
Department of Neurology, Johns Hopkins University School of Medicine, Baltimore, Maryland, USA Center for Primary Care and Outcomes Research/Center for Health Policy, Stanford University, Stanford, California, USA School of Public Health, University of California, Berkeley, California, USA Department of Medicine, Center for Health and the Social Sciences, University of Chicago, Chicago, Illinoi...
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