Several pressures on planetary boundaries are directly linked to the production of goods and services driven by people’s ever-increasing spending of money to improve their material living standard beyond a comfortable life. The over-spending on material consumption by people in industrialized...

This paper uses agent-based simulation to analyze how financial markets are affected by market participants with convex incentives, e.g. option-like compensation. We document that convex incentives are associated with (i) higher prices, (ii) larger variations of prices, and (iii) larger bid-ask...

This paper uses agent-based simulation to analyze how financial markets are affected by market participants with convex incentives, e.g. option-like compensation. We document that convex incentives are associated with (i) higher prices, (ii) larger variations of prices, and (iii) larger bid-ask...

The life-cycle theory of saving behavior (Modigliani, 1988) suggests that humans strive towards an equal intertemporal distribution of wealth. However, behavioral life-cycle theory (Shefrin & Thaler, 1988) proposes that people use self control heuristics to postpone wealth until later in life....

This case note discusses a 2013 decision of Indonesia’s Constitutional Court (Mahkamah Konstitusi) and a series of lower court judgments issued following that decision. In that decision, the Court ruled that, notwithstanding the statutory right to freedom of contract, parties to an Islamic...