None of the known macroeconomic theories are adequate to understand what to do in a global crisis like the 2020 Global Pandemic. Rational Expectations and monetarism cannot even ex-plain how is that a global crisis like this happens. The IS-LM model was designed to manage business cycles, but...

The focus of this study is on black markets which provide an important segment of the parallel economy. These markets operate in disequilibrium,search and information costs become very important.Trafficking in drugs taken as case, to explore both theoretically and empirically. The problem,...

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...

This paper incorporates the interdisciplinary New Institutional and Transaction Costs Economics and suggests a holistic framework for analysis of management agro-ecosystem services. That new approach for analyses and assessment of management of agro-ecosystem services includes: definition of the...

There has been a fundamental development in theory and understanding of market, private, collective and public organizations in recent years. This paper incorporates achievements of the interdisciplinary New Institutional and Transaction Costs Economics (combining Economics, Organization, Law,...

This paper uses a novel experimental design to study the effect of hypothetical personal experience on the adoption of a new insurance product in rural China. Specifically, we conduct a set of insurance games with a random subset of farmers. Our findings show that playing insurance games...

Under the customary land tenure system in Ghana, family land allocated through matrilineal ties is associated with a lower propensity to take up rubber cultivation and lower yields when they do. Land tenure insecurity is associated with lower yields, as conventional wisdom suggests. Much of the...

This article analyzes the territorial resilience of the Mananjary district in Madagascar in response to tropical cyclones, focusing on the communes of Tsaravary and Tsarahafatra. The study employs a multivariate Probit model to examine three hypotheses: the relevance of resilience policies, the...

In this paper we incorporate the interdisciplinary New Institutional and Transaction Costs Economics (combining Economics, Organization, Law, Sociology, Behavioral and Political Sciences), and suggest a framework for analyzing the mechanisms of governance of sustainable development. The...

In this paper we incorporate interdisciplinary New Institutional and Transaction Costs Economics (combining Economics, Organization, Law, Sociology, Behavioral and Political Sciences), and suggest a framework for analysis of mechanisms of governance of agro-ecosystem services. Firstly, we...