In markets for experience goods where sellers cannot build reputations, buyers may refrain from purchasing, leading to low efficiency. A product testing institution can mitigate this problem by offering buyers a noisy but informative signal about product quality for a fee before they decide...

Sustainable aviation fuels (SAFs) are promising solutions for reducing carbon emissions in the aviation industry and achieving the 2050 net-zero target. Despite their environmental benefits, the adoption and deployment of SAFs remain significantly below expectations. This paper systematically...

A method for estimating and testing the distribution parameters of an asymmetric distribution when a large number of moment estimates are available -- Dynamic model explaining asymmetric distribution of deviations from the production frontier -- Technical inefficiency and X-inefficiency --...

This book revitalises the labour theory of value as a framework for determining production prices and explores its implications for economic theory and policy. Through an in-depth review of economists such as Adam Smith, David Ricardo, Karl Marx, and Piero Sraffa, it uncovers that the profit...