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Social power as a solution to the Bertrand Paradox

Soeiro, Renato; Adrego Pinto, Alberto - 2019

We show that in a duopoly with homogeneous consumers, if these are negatively influenceable by each other behavior (e.g. congestion/ snob/ Veblen/ network effects), a pure price equilibrium with positive profits for both firms exists. Furthermore, even in the case products are undifferentiated,...

Persistent link: https://www.econbiz.de/10015264213

Action in Economics: Mathematical Derivation of Laws of Economics from the Principle of Least Action in Physics

Kombarov, Sayan - 2021

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...

Persistent link: https://www.econbiz.de/10015267579

New Economics

Obregon, Carlos - 2020

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...

Persistent link: https://www.econbiz.de/10015214327

Patterns of technological progress and corporate innovation

Waśniewski, Krzysztof - 2010

The bulk of the global innovative effort takes place in 5 countries: USA, Japan and China as leaders, with France and United Kingdom as immediate followers, which all display, on the long run, a negative marginal value added on innovation. The present paper attempts to answer the following...

Persistent link: https://www.econbiz.de/10015223233

Impacts of Covid-19 Pandemic on Tourism Industry of India

Publishers, KMF; Vasant Jagdale, Divya; Dr Heena, Ganatra - 2021

The purpose of this study is to examine the effect of COVID-19 on the tourism sector of India. India is a tourist euphoria. Tourism in India has noteworthy potential seeing the rich cultural and historical heritage, variety of ecology, terrains and places of natural beauty spread crossways the...

Persistent link: https://www.econbiz.de/10015259045

Reason-Based Rationalization

Dietrich, Franz; List, Christian - 2013

We introduce a “reason-based” way of rationalizing an agent’s choice behaviour, which explains choices by specifying … which properties of the options or choice context the agent cares about (the “motivationally salient properties”) and how he … non-classical choice behaviour, including boundedly rational and sophisticated rational behaviour, and predict choices in …

Persistent link: https://www.econbiz.de/10015239856

Gauge field theory of market dynamics: Toward a solution of the "man vs. men" dilemma

Yang, Yingrui - 2015

The current economics and psychology are developed within the Newtonian tradition in physics from both conceptual and instrumental perspectives. This paper aims to integrate economics and cognitive science by applying gauge field theory of modern theoretical physics. Many controversies between...

Persistent link: https://www.econbiz.de/10015248188

Another Solution for Allais Paradox: Preference Imprecision, Dispersion and Pessimism

Bayrak, Oben - 2016

Although there are alternative models which can explain the Allais paradox with non-standard preferences, they do not take the emerging evidence on preference imprecision into account. The imprecision is so far incorporated into these models by adding a stochastic specification implying the...

Persistent link: https://www.econbiz.de/10015252118

Preference Cloud Theory: Imprecise Preferences and Preference Reversals

Bayrak, Oben; Hey, John - 2015

This paper presents a new theory, called Preference Cloud Theory, of decision-making under uncertainty. This new theory provides an explanation for empirically-observed Preference reversals. Central to the theory is the incorporation of preference imprecision which arises because of...

Persistent link: https://www.econbiz.de/10015252119

Firm Risk and Performance: The Role of Corporate Governance in Dutch Lady Malaysia

Alyamutty, siti Nasirah - 2017

The objective of this paper to characterize some indicators of overall performance of Dutch Lady Malaysia with specific risk factors and macroeconomics factors (GDP, inflation rate) on return on assets (profitability). The information was collected from Dutch Lady Malaysia annual report for five...

Persistent link: https://www.econbiz.de/10015255692