Happiness is a universal state of mind. However, its meaning takes on culture-specific forms, ranging from emotional states of mind to life satisfaction. The definition of 'happiness' is strongly influenced by the respective philosophical background and material living conditions and is shaped...

ABSTRACT & RÉSUMÉ : Happiness is a universal state of mind. However, its meaning takes on culture-specific forms, ranging from emotional states of mind to life satisfaction. The definition of 'happiness' is strongly influenced by the respective philosophical background and material living...

This paper provides a simple development mechanism for African nations, where economic development is low due to not only low level of physical capital but also poor social capital that leads to lot of conflicts. The study suggests for development of social capital, which is a broader concept...

Peer-to-peer lending platforms are increasingly important alternatives to traditional forms of credit intermediation for small value loans. There are high hopes that they improve financial inclusion and provide better terms for borrowers. To study these hopes, we introduce altruistic investors...

Presented is an evolutionary model of consumer non-durable markets, which is an extension of a previously published paper on consumer durables. The model suggests that the repurchase process is governed by preferential growth. Applying statistical methods it can be shown that in a competitive...

We present a microeconomic analysis of subsistence consumption in a standard consumer theory setting. We define 'subsistence and saturation induced irrelevance' (SSI) preferences for an individual who makes choices over two goods: a basic good and a non-basic good. The basic good has two key...

We present a microeconomic analysis of subsistence in the consumer theory framework with two goods: the basic good (food) and the non-basic good (non-food). Subsistence results in two regions in the consumption set: the pre subsistence zone in which the individual's subsistence requirement is...