A heuristic approach to explaining of the Black-Scholes option pricing model in undergraduate classes is described. The approach draws upon the method of protocol analysis to encourage students to "think aloud" so that their mental models can be surfaced. It also relies upon extensive visualizations to communicate relationships that are…

Offers a methodological critique of Thomas Hennen's American Public Library Rating Index as well as a response by Hennen. Discusses statistics; indexes; correlations; variables; weighting; and how public libraries should be assessed, and Hennen defends his work and suggests it should be called a scorecard rather than an index. (LRW)

Examines two classes of production functions in which the long-run competitive equilibrium scale of the firm increases when the relative price of the dominant factor decreases. Compares these with a third class of production functions where the equilibrium scale is independent of the relative price of the dominant factor. (MJP)