Are financial markets predictable? How to predict the financial markets? These important questions are not answerable in the existing framework of either finance or economics. This paper shows in details that these questions are also not answerable in the existing framework of modern physics. In...

Are financial markets predictable? How to predict the financial markets? These important questions are not answerable in the existing framework of either finance or economics. This paper shows in details that these questions are also not answerable in the existing framework of modern physics. In...

This book examines the field of behavioral economics and provides insights into the following questions: • Does utility bring happiness? • How do emotions and personal perspectives color our economic decisions? • How do altruism, trust, fairness and justice come into play in game theory?...

Why would social science need the help from quantum mechanics? First, there are many unanswerable questions in social science. Are financial markets predictable? How to predict the financial markets? These important questions are not answerable in the existing framework of finance or economics....

The arrow-of-time phenomena are everywhere in the physical world, biological systems, and human society. Despite its great importance in physics, the second law of thermodynamics can only successfully explain small percentages of these arrow-of-time phenomena in the physical world, and generally...

The question of whether lawyers and managers behave selfishly or fairly has inspired discussion for a long time. Empirical evidence, however, is sparse. Using data from an experiment with 359 law and business administration students, we investigate this question empirically and provide first...

The power to take game is a simple two player game where players arerandomly divided into pairs consisting of a take authority and responder.Both players in each pair have earned an own income in an individual realeffort decision-making experiment preceding the take game. The gameconsists of two...

Many experimental studies report that economics students tend to act more selfishly than students of other disciplines, a finding that received widespread public and professional attention. Two main explanations that the existing literature offers for the differences found in the behavior...

Using a dictator game, we examine the other-regarding behavior of allocators who are given the responsibility of unilaterally making an allocation decision without consultation on behalf of a two-person group between their group and another group. We then contrast the behavior of the same...

The power-to-take game is a simple two player game where players are randomly divided into pairs consisting of a take authority and responder. Both players in each pair have earned an income in an individual real effort decision-making experiment preceding the take game. The game consists of two...