The paper clarified how actual expert dealers made profits and reduced the risk of loss in a virtual foreign exchange market, by comparing the way novice or general investors showed. As a result, we could find that the experts were riskaverse for losses and risk-seeking for profits while the novices showed the opposite behavioral tendency. This result was analyzed in terms of the prospect theor...

Critics of current tying doctrine argue that metering ties can increase consumer welfare and total welfare without increasing output and that they generally increase both welfare measures. Contrary to those claims, we prove that metering ties always lower both consumer welfare and total welfare unless they increase capital good output. We further show that under market conditions we argue are r...

Aquaculture has been considered as an option to cope with the world food demand. However, criticisms have arisen around aquaculture, most of them related to the destruction of ecosystems such as mangrove forest to construct aquaculture farms, as well as the environmental impacts of the effluents on the receiving ecosystems. The inherent benefits of aquaculture such as massive food production an...

In this article we develop a model for determining the appropriate level of inspection sampling for any manufacturing process. The model is useful for manufacturers, who naturally are concerned with profits and therefore with minimizing the cost of production. The model design aims to reduce total manufacturing cost and has general applicability to various manufacturing operations. The model co...

This paper describes and discusses the phenomenon 'predatory publishing', in relation to both academic journals and books, and suggests a list of characteristics by which to identify predatory journals. It also raises the question whether traditional publishing houses have accompanied rogue publishers upon this path. It is noted that bioethics as a discipline does not stand unaffected by this t...

This paper examines the economics of for-profit and not-for-profit hospitals through the prism of capital acquisitions. The exercise suggests that of two hospitals that are equally efficient in producing health care, the for-profit hospital would have to charge higher prices than the not-for-profit hospital would, to break even on capital acquisitions. The reasons for this divergence are (1) th...

In opposition to foundational economic principles, four studies show that people view profit as fundamentally socially harmful. Studies 1 and 2 find a strong negative correlation between profit and perceived social value across both real firms and entire industries. This relationship holds for both perceived profit and actual profit information from public data. Study 3 confirms that this effec...

After embracing globalization, some countries have achieved fast growing. Meanwhile, many multinational corporations (MNCs) have made significant profits and also contributed a lot to economic growth. However, opponents believe that the benefits haven’t been equally shared and view it “as a threat to prosperity, cultural integrity, and the environment” For developed countries that compete succe...

We examine the economics literature on tacit collusion in oligopoly markets and take steps toward clarifying the relation between economists’ analysis of tacit collusion and those in the legal literature. We provide an example to motivate the idea that collusive profits can be achieved via tacit coordination in an environment where there is a unique, salient way for colluders to maximize and di...