This paper presents an empirical micro-simulation model of the teaching and the testing process in the classroomH. It is a non-econometric micro-simulation model describing informational behaviors of the pupils, based on the observation of the pupils’ communication behavior during lessons and...

This article, presented to the Annual Conference of the History of Economics Society, Vancouver July 1996, gives a historical analysis of the origins of the general equilibrium or comparative static approach and demonstrates that economic thought as a whole is divided, in each of its schools of...

The human being can be regarded as a product of evolution. She has prevailed in the evolutionary process because of her ability to create and to use knowledge. The creation and the use of knowledge depend on the cognitive and on the social order. Both types of order are interdependent. Hayek...

Prior to the Asian crisis, benign liquidity conditions contributed to credit expansion and overinvestment in the East Asian economies until they were hit by a deep recession (Saxena and Wong 2002). Similarly to the developments in the tiger economies in the nineties, the CEE economies grew...

Prior to the Asian crisis, benign liquidity conditions contributed to credit expansion and overinvestment in the East Asian economies until they were hit by a deep recession (Saxena and Wong 2002). Similarly to the developments in the tiger economies in the nineties, the CEE economies grew...

The business cycles theories of Wicksell (1898), Schumpeter (1912), Mises (1912), Hayek (1929, 1935) and Minsky (1986, 1992) explain business cycles by distorted prices on capital markets, buoyant credit expansion and overinvestment. The exuberance during the boom endogenously causes the...

The resource-based view (RBV) of the firm has been around for over twenty years - during which time it has been both widely taken up and subjected to considerable criticism. The authors review and assess the principal critiques evident in the literature, arguing they fall into eight categories....

In this paper we present, propose and examine additional membership functions. There is no reason why more functions cannot be proposed. More specifically, we present the tangent hyperbolic, Gaussian and Generalized bell functions. Because Smoothing Transition Autoregressive (STAR) models follow...

Question 1 begins by discussing an area of subjectivism where most economists agree: Is economic value subjective? This area differentiates most modern economists from classical economists and many non-economists. Question 2 probes an area where many but not all economists agree: Are costs...

The political economy of Ludwig von Mises and Frederic Bastiat has been largely ignored even by their admirers. We argue that Mises' and Bastiat's views in this area were both original and insightful. While traditional public choice generally maintains that democracy fails because voters' views...