Observes that, before 1973, determining a valuation formula for option prices was an elusive goal of financial economics. Discusses Louis Bachelier's early twentieth-century work on the problem. Notes that Bachelier derived a normal distribution for stock price movements by modeling price changes in specific way. Reviews Bachelier's option pricing…

This paper documents how the University of Oklahoma developed discipline cost indices which it then used in its budget allocation process. In order to overcome the interinstitutional comparison problems between universities which use different reporting and accounting methods, discipline cost indices were derived using data collected through the…

The derivation of discipline cost indexes, developed to permit accurate interinstitutional comparisons of relative costs among disciplines, is explained using expenditure data from five peer institutions. How the indexes have been used in one research university's budget allocation process is then described. (Author/MSE)

This study examined faculty salaries at 50 higher education institutions using methods to adjust salaries for geographic differences, cost of living, and tax burdens so that comparisons were based on real rather than nominal value of salaries. The study sample consisted of one public doctorate granting institution from each state and used salary…

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)

Asserts that policymakers and the general public should be well informed about economic and social issues. Contends that a statistical system in a democracy has a heavy responsibility to ensure that the data represent fact, not opinion. Discusses changes made in the Consumer Price Index to prevent it from becoming politicized. (CFR)

This collection of documentation from library materials cost studies conducted by members of the Association of Research Libraries (ARL) member libraries in the United States and Canada contains 11 documents divided into the following sections: (1) methodologies and data collection worksheets from the University of California at Berkeley, the…

Briefly defines and provides some background on Eugen von Bohm-Bawerk's "marginal pairs" theory of pricing. Asserts that Bohm-Bawerk's theory is a good introduction to the Austrian school of economics and illustrates the differences between this approach and neoclassical economic theory. Includes several graphs and tables of data. (MJP)

This report updates a 1985 research study prepared for the New York State Regents Task Force on Education and Economic Development. Average per pupil expenditures in 1984-85 were analyzed for 13 expense categories among 3 groups of school districts in New York State: (1) the New York City suburban counties; (2) the "Big Five" cities (New…

Utilizes two-dimensional price and output graphs to demonstrate the way that the price-level elasticity of aggregate demand affects alternative monetary policy rules designed to cope with random aggregate supply shocks. Includes graphs illustrating price-level, real Gross Domestic Product (GDP), nominal GDP, and nominal money supply targeting.…

The Inferred Program Cost (IPC), a program evaluation indicator in use at Prince George's Community College (PGCC), represents the cost of one student completing the curriculum requirements for a degree or certificate program/option as specified in the current college catalog. The IFP for each program is the dollar amount representing the…

Describes a computer software program that allows students, working independently and interactively with the computer, to select alternative market conditions and/or policies and view the results numerically as well as graphically. Discusses options and models provided by the software as well as classroom applications. (MJP)

Maintains that computer-assisted instruction built around a spreadsheet-based model can illustrate and simplify some of the more difficult concepts concerning economics and fisheries. Describes a software program that illustrates overcapitalization, asset fixity, resource rent capture, economic optimum, and sustainable yield. (MJP)

Describes a computer software program where students define alternative policy sets and compare their effects on the welfare of consumers, producers, and the public sector. Policy sets may be a single tax or quota or a mix of taxes, subsidies, and/or price supports implemented in the marketing chain. (MJP)

This report provides data to evaluate salary and wage trends in education. The statistical measure used to gauge and compare changes in salaries and wages paid by school systems is the Composite Indicator of Changes (CIC). This measure is designed to reflect changes in much the same way as the Dow Jones Average or the Standard and Poor's Index.…