A linear demand curve is a line representing the relationship between the demand for a product or service and its price. Everyone knows that sales are proportional to price: The more you charge for an ...

This article presents a Monte Carlo evaluation of some alternative estimators for a demand model when the budget constraint is piecewise-linear and the budget set is convex. We examine the performance ...

Total factor productivity (TFP) is considered as a good measure of productivity. However, empirical TFP, often calculated from ordinary least squares (OLS) residuals from production function estimates ...

Consumer surplus is the amount exceeding an equilibrium price the consumer is willing to pay. The equilibrium price is an idealized price, in which the demand for the good equals its supply. If the ...