Substantial evidence has accumulated in recent empirical works on the limited ability of the Nash equilibrium to rationalize observed behavior in many classes of games played by experimental subjects. This realization has led to several attempts aimed at finding tractable equilibrium concepts...

The thesis of this paper is mathematical formulation of the laws of Economics with application of the principle of Least Action of classical mechanics. This paper is proposed as the rigorous mathematical approach to Economics provided by the fundamental principle of the physical science – the...

By casual empiricism, it seems that many firms take explicit account of the family ties connecting workers, often hiring individuals belonging to the same family or passing jobs on from parents to their children. This paper makes an attempt to explain this behaviour by introducing the assumption...

Taking note of the wide variety and growing list of models in the literature to explain patterns of behavior observed in laboratory experiments, this paper identifies two tests, the Variety Test (ability of a model to explain outcomes under variety or alternative scenarios) and the Psychological...

In the last two decades, free markets have swept the globe, bringing with them enormous potential for positive change. But traditional capitalism cannot solve problems like inequality and poverty, because it is hampered by a narrow view of human nature in which people are one-dimensional beings...

Taking note of the wide variety and growing list of models in the literature to explain patterns of behavior observed in laboratory experiments, this paper identifies two tests, the Variety Test (ability of a model to explain outcomes under variety or alternative scenarios) and the Psychological...

This paper offers the first analytical framework to tackle the concept of aporophobia (rejection of the poor), as introduced by Cortina's ground-breaking work. It can be considered a first step towards a fully-fledged theory of aporophobia. More specifically, i) it provides a conceptual analysis...

The Value-Belief-Norm model assumes that egoistic, social-altruistic and biospheric value orientations causally influence how people cognitively structure beliefs regarding adverse environmental consequences. Empirical studies have administered the Awareness of Consequences (AC) scale to...

This study aims to examine and analyze various problems related to the development of productive waqf in Indonesia. With a qualitative-descriptive approach, this study discusses the mechanism of waqf development in Indonesia. Furthermore, with a quantitative approach using Susenas 2014 data, the...

The education systems of many countries emphasize the development of prosocial preferences. Clarifying how these preferences are related to well-being is therefore essential. Although many studies have shown that particular prosocial behaviors increase subjective well-being, it is unclear...