W e use a number of aggregate indicators to construct an index of market size for each of eight illicit drugs. These indices can be constructed routinely on an annual basis and are suitable as a baseline against which to judge the impact of anti-drugs policies. KEYW ORDS Illicit drug markets; latent variables; cubic spline trend JEL CLASSIFICATION C43, C82, K42 *I am grateful to John Corkery an...

Is free entry desirable for social efficiency? We examine this question in an open economy context under a Cournot setup. Specifically, we consider a ‘home market’ where both home and foreign firms compete simultaneously. While free entry always leads to “excessive entry” in a closed economy setup (Mankiw and Whinston (1987), Suzumura and Kiyono (1986)), we find that free entry can be socially ...

In spite of sonic pessimistic attitudes towards methodology of economics, it has succeeded as a central theme in numerous books, refereed journals, international conferences and symposiums whose volume is increasing at an unprecedented rate. The proliferation of methodological literature also is accompanied by a proliferation of issues that concern: the goals of economics, realism of economics,...

Using the event study method, impact of Chinese Super League match results on title sponsors' share prices was empirically analysed from a behavioral economics perspective. The main section considers variables such as win-loss relationship, home and away factors, Friday's important day last five rounds A-share market H-share respectively, draws conclusions. article aims to explore possible patt...

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employment agencies have gained an increasing significance in matching employment and vacancies in the economy. solo searches by workers, and shorterperiods of employment, have necessarilyadded to the need for third party agents for the matching process in labour markets. thus the existence of these agents and sole agent searches has created a multiplicity of wages across labour . markets. we d...

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