Consider how an economic model can be viewed as a simplified description of reality, designed to yield hypotheses about economic behavior that can be tested. In essence, a simulation. Hence, one important element of an economic model is that it is necessarily subjective in design because there are no objective measures of economic outcomes. If different economists make different judgments about what is needed, how can we tell if a model is ‘useful’? What does this tell us about economic behavior?
Evaluating the Net Present Value (NPV) of Drug Abuse Sciences (DAS) Investment in a Cure for Drug and Alcohol Addiction Drug and alcohol addiction is a
Evaluating the Net Present Value (NPV) of Drug Abuse Sciences (DAS) Investment in a Cure for Drug and Alcohol Addiction Drug and alcohol addiction is a significant issue in the United States, with approximately 14 million Americans affected. The federal government estimates that these addictions cost the U.S. economy $300