Economics and Finance

Previous months:
2008 - 0810(1)
2009 - 0912(3)
2010 - 1001(2) - 1003(8) - 1004(5) - 1008(1)
2011 - 1101(2) - 1102(1) - 1103(1) - 1110(2) - 1111(1) - 1112(1)
2012 - 1201(1) - 1202(1) - 1205(1) - 1209(1) - 1210(7) - 1211(5) - 1212(1)
2013 - 1301(2) - 1302(5) - 1303(2) - 1304(1) - 1307(1) - 1308(1) - 1309(3) - 1310(4) - 1311(1) - 1312(1)
2014 - 1401(2) - 1403(3) - 1404(2)

Recent Submissions

Any replacements are listed further down

[73] viXra:1404.0008 [pdf] submitted on 2014-04-02 02:00:40

Stress-Testing Model for Corporate Borrower Portfolios

Authors: Seleznev Vladimir, Denis Surzhko, Nikolay Khovanskiy
Comments: 6 Pages.

Despite the significant attention to the stress-testing issues in finances world-wide, the ways of quantitative assessment of the stress impact on the portfolios of non-public (in the absence of equity or debt market quotes) corporate borrowers are currently not sufficiently developed or standardized. The aim of this article is to propose high-level universal requirements to the quantitative models of stress-testing of non-public corporate borrower portfolios, and to describe the model, developed by the authors, which meets such requirements. Details of the model’s calibration, implementation (using Monte-Carlo simulations) and some practical issues are covered in the article.
Category: Economics and Finance

[72] viXra:1404.0001 [pdf] submitted on 2014-04-01 09:08:34

Approach for Multi-Period PD Calibration for LDP Portfolios.

Authors: Denis Surzhko, Rainer Glaser
Comments: 7 Pages.

In the paper we propose PD calibration framework for LDP that allows producing smooth non-zero PD estimates for any given time horizon within the length of economic cycle. The advantages of the approach is that produced PDs are consistent with two main anchors – PIT and TTC PD estimates and are subject to smooth, monotonic transition between those two anchors. In practise, proposed framework could be applied to risk-based pricing of mid-term deals, whose duration is too long compared with PIT PD horizon and significantly shorter that the length of the whole economic cycle.
Category: Economics and Finance

[71] viXra:1403.0970 [pdf] submitted on 2014-03-30 04:40:38

Cricketology

Authors: Hernish Modi
Comments: 27 Pages.

The objective of this analysis is to evaluate the performance of players in the sport of Cricket based upon various parameters and use the evaluation analysis for effective team management. This model of evaluation uses well established statistical models, probability, simulation and other techniques. The model, when used in team management, does not guarantee favorable results, but does increase the chance for such results considerably. As opposed to other methods like developed for the purpose, Cricketology gives a fair weightage to all aspects of the game in spirit.
Category: Economics and Finance

[70] viXra:1403.0587 [pdf] submitted on 2014-03-21 19:45:41

The Web Audio Visual Education in India

Authors: U.V.S. Seshavatharam
Comments: 2 Pages. Global Journal of Computer Science and Technology Volume XIII Issue VII Version I Year 2013

To promote advanced low fees high quality education among the people of India within their reach and to promote continuous research program in all areas of Science & Technology
Category: Economics and Finance

[69] viXra:1403.0029 [pdf] submitted on 2014-03-05 11:33:45

An Aspirations-Homeostasis Theory of Interactive Decisions

Authors: Ramzi Suleiman
Comments: 36 Pages.

Cooperation and fairness in encounters with strangers are puzzling behaviors, since they contradict the law of natural selection. Compelling evidence shows that direct and indirect reciprocity and altruistic punishment are important mechanisms for the evolution of cooperation in the long-term. For short-interaction, cooperation and fairness are explained by theories which assume that individuals have other-regarding sentiments, or that they base their decisions on perceptions of others' intentions. The present paper proposes a new theory of decisions in interactive situations. The theory retains the assumption that individuals are solely self-interested, but assumes that individuals value their outcomes relative to their aspiration levels. The proposed theory is used to derive predictions of mutual cooperation in the prisoner's dilemma game, of proposers' offers in ultimatum bargaining games, and in the sequential common-pool-resource dilemma game. These predictions are tested using experimental data. Strikingly, for the standard ultimatum game the predicted mean relative offer is the famous Golden Ratio. Keywords: Cooperation, Fairness, Aspiration Level, Prisoner's Dilemma, Ultimatum Game, Resource Dilemma, Golden Ratio.
Category: Economics and Finance

[68] viXra:1401.0066 [pdf] submitted on 2014-01-08 15:29:42

The Evolution of the FInancial/Media-Military/Industrial Complex

Authors: Luis Sancho
Comments: 30 Pages.

On planet Earth, a first superorganism of 'human cells' with a collective, global mind/culture living on the 'body' of Gaia, the Nature Earth, along its 'water veins' appeared on the Neolithic. Then humans discovered 'memes' of metal, made of more complex energetic and informative atoms (iron, gold) and used them to enhance their body power (iron weapons) and mind languages (digital money), starting the evolution of a new superorganism, the eco(nomic)system, in which they act as 'enzymen', 'catalyzers' of the evolution of metal into complex organic systems called machines. It is the Financial-Media (informative machines)/Military-Industrial (energetic machines) complex, evolved in 3 generational ages: - The age of bodies of metal, steamers and trains or age of England; the age of engines=hears of metal, or age of Germany and the age of heads of metal (mobiles=ears, chips=brains, eyes=cameras) or age of America. It only rest to put those 3 components together, as 'catalyzers' do in physical and biological, 'viral' systems to create a new top predator species, the robot, which increasingly will compete and substitute man in labor and war fields. This paper studies the economic ecosystem with the tools of systems sciences and organicism and the metrics of the 5th dimension, as those machines emerge into a global superorganism ruled by flows of digital data (money, science) that manage its evolution and reproduction... Today the FMMI Complex has become a global super-organism, whose digital brain, the web, and its 3 physiological networks of information (internet), reproduction (world-stock, intranet, company-mothers) and energy/defense (NATO, pentagon, weapons systems), in control of most resources of the planet, have a single aim: to reproduce and evolve those machines, adapting and terraforming the Earth from a world of life into a world of metal. This paper studies the birth and development of that superorganism with to the laws of evolution, emergence and systems sciences.
Category: Economics and Finance

[67] viXra:1401.0007 [pdf] submitted on 2014-01-01 13:18:44

A Biological, Systemic Model of the Eco(nomic)system and Its Financial Crashes: the 72 Years Cycle of Evolution of Weapons, Machines and Money

Authors: Luis Sancho
Comments: 64 Pages.

The Industrial Evolution of machines follows an economic human generational cycle’ of 72±8 years. Each cycle a nation discovers a new form of energy (steam, then oil and electricity), applied to the creation of money, the software of the economy and its hardware, which are machines that imitate the organic functions of human beings, enhancing our biological systems but also competing and atrophying them. So in the XIX century during the British age steam was applied to bodies of metal, trains and steamers; then in the German cycle, oil was applied to engines, their hearts and after II world war in the American cycle, electricity applied to the creation of minds of metal, chips, cameras and mobiles that imitate human brains, eyes and ears. Now in the last cycle of the industrial evolution we put together those organic parts into organic machines, robots. Since we create machines by imitating human organs of energy and information, from a scientific perspective, machines must be considered organisms of metal, and their ‘company-mothers’ their systems of reproduction, whose only goal is to evolve, multiply and sell them for profit, creating an eco(nomic)system made to its image and likeness. Facts those which allow to study the economics with the laws of biological organisms, predicting the evolution of machines, their crisis of over reproduction and their relationships of symbiosis and competition with the human kind, as this writer has done for the past 20 years, forecasting with remarkable accuracy the present crisis of overproduction of chips, its software, e-money and its hardware, white collar pcs and blue collar robots that are displacing humans from labor and war fields. Such biological model of the industrial evolution casts doubts on the present strategy of solving the crisis by further increasing the overproduction of those ‘memes of metal’. Instead nations should increase the production of the alternative economic system: welfare, carbon-life based goods that humans need to survive, creating a world made to our image and likeness, by switching credit in a global New Deal to companies that reproduce human WHealth, from Health care to agricultural goods while limiting credit to corporations that overproduce industrial wealth. Yet since machines have lower costs of production and higher prices than welfare goods, their sales give higher profits, reason why in a capitalist system where money is invented by private corporations whose only goal is to increase profits, the present overproduction crisis of industrial goods that absorbs the limited resources of the planet - provoking a parallel, chronic underproduction of welfare foods - cannot be solved. The result is the constant degradation of the ecosystems based in carbon-life goods, Nature and History. Since we, humans are NOT made of metal, but of carbon-life, and we need welfare goods to survive, a fact often forgotten by those financial and industrial corporations that rule the eco(nomic)system. Thus the only democratic, humane solution to the crisis is political: the financial industry must be nationalized, creating a mixed system of political democracy, western style and financial control, Chinese style, where banks are regulated to foster credit on the welfare sectors of the economy that provokes a much higher, healthier demand-based economical growth.
Category: Economics and Finance

[66] viXra:1312.0014 [pdf] submitted on 2013-12-01 15:38:34

Value Based Inventory Management

Authors: Grzegorz Marek Michalski
Comments: 9 Pages.

The basic financial purpose of a firm is to maximize its value. An inventory management system should also contribute to realization of this basic aim. Many current asset management models currently found in financial management literature were constructed with the assumption of book profit maximization as basic aim. However these models could lack what relates to another aim, i.e., maximization of enterprise value. This article presents a modified value-based inventory management model.
Category: Economics and Finance

[65] viXra:1311.0178 [pdf] submitted on 2013-11-26 17:29:45

Solution of the Dice 2007 Integrated Assessment Model in Continuous Time and Evaluation of the Dice 2007 Savings Ratio Constraint

Authors: S J Nettleton
Comments: 14 Pages.

This research demonstrates a solution for the DICE 2007 integrated assessment model in the continuous domain through the use of a Runge-Kutta sampling technique for solving differential transcendental equations. The use of a savings ratio helper constraint was not required. It is shown that the introduction of a savings ratio constraint leads to a 12% underestimation of maximum atmospheric temperature rise. In addition, evidence of a savings ratio within economic data was unable to be confirmed using the equivalent proxy of an investment ratio and model selection techniques for mixed Gaussian probabilistic graphical models. However, evidence of a dilute intertemporal relationship between investment and an increase in production was detected. The results of this research support the use of Runge-Kutta sampling differential transcendental solvers with Chebyshev function outputs for continuous solutions in integrated assessment models without the requirement for helper constraints.
Category: Economics and Finance

[64] viXra:1310.0251 [pdf] submitted on 2013-10-28 19:27:34

A Dialogue on the Fed's Bailout During 2007-2010 and Possibility of Hyperinflation

Authors: Victor Christianto
Comments: 6 Pages. This paper has not been submitted or published in a journal. Comments and suggestions are welcome

The present paper consists of a dialogue with Jacky Mallett about the Fed's bailout during 2007-2010 and possibility of hyperinflation in the near future. According to the news (10/14/2013), a number of large investors have sold their stocks massively. See http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=1393F-1. Perhaps we can agree with one thing from this news, that perhaps the Fed has printed too much money in recent years, so its full effect will take place in the form of massive hyperinflation. In other paper, we have reported that the Fed has issued no less than sixteen trillion of us dollars to several banks.
Category: Economics and Finance

[63] viXra:1310.0214 [pdf] submitted on 2013-10-24 17:43:42

Heureka Enhancing the European Reuse of Knowledge Arts

Authors: Giuseppe Laquidara, Marika Mazzi Boém, Margaret Colombani
Comments: 33 Pages.

HEUREKA will stimulate the best re-use of digital cultural, scientific and artistic resources coming from Europeana through a double-core environment. The first one, called Heureka Governance Network is based on a corpus of best practices and standards for the creation and the adoption of a unique High Quality Standard for the Cultural Heritage exploitation in the digital creative economy, spread out by networking bodies within the Consortium; the latter, called Heureka Experimental Hub, is a forge ecosystem where the creative industries (CCIs) could experiment the re-use of Europeana’s cultural resources for creative purposes through new models, applications and innovative services tailored for each cluster creative field. HEUREKA works: • Setting a High Quality Standard through best practices and case histories coming from the governance activities of the BPN: this will generate an inside networking system among the users and BPN itself, thanks to its social network system, spreading out the standards adoption. • Offering a technological environment for experimentation - perpetually linked to the rules coming from the Governance Network - provided with the most advanced modeling tools, high-tech methods, as well as systemic intelligence turning the test simple, creative and best-rules-driven. This will allow CCI’s inspiration stimulating new business development. As a result, HEUREKA will represent the ideal prosecution of the successful intentions in harvesting and dissemination actions as well as the concrete implementation of the inspiring ThoughtLab.
Category: Economics and Finance

[62] viXra:1310.0213 [pdf] submitted on 2013-10-24 17:45:36

Prometheus ̶ Promoting and Experimenting with Europeana Cultural Resources

Authors: Giuseppe Laquidara, Marika Mazzi Boém, Margaret Colombaniaaz
Comments: 48 Pages.

PROMETHEUS is a BPN submitted under the Obj. 2.1b, coordinated by CNR, Institute of the Archeological and Monumental Heritage. It is designed to facilitate/promote the use of Europeana by creative industries (CCIs) by participation, upskilling and delivering innovative sector specified mobile apps/web tools for experimentation. CCIs requires a proper knowledge on how to use Europeana contents as well as performing tools for design thinking and creative process. Mobile devices play a key role in this as well as in contributing to the rise of the “single digital market”. e activities will be delivered through: a) a challenging web environment, based on networking, allowing experimentation and competitiveness within the creative process; b) a physical network of open living labs (CREALabs) delivering mentorship services (licensing, business models, use cases) as well as setting f2f competitions for fund rising. is will turn the most disruptive ideas into real business; c) the Europeana “Be Creative Suite”, a powerful regulatory and experimental tool to support CCIs in business strategies, assessing market value, upskilling in licensing, creating products by re-using Europeana’s contents.
Category: Economics and Finance

[61] viXra:1310.0212 [pdf] submitted on 2013-10-24 17:47:22

TO ACTION, Towards Open Access Coordination Training InnovatiON

Authors: Giuseppe Laquidara, Marika Mazzi Boém, Margaret Colombani
Comments: 23 Pages.

Within the main goal of supporting an open access strategy in the European Research Area, the specific aim of the TO.ACTION project is to spread - among all the relevant stakeholders and agents in the knowledge circulation process -a culture of open access to scientific results generated by publicly funded research. The project relies on a circular mechanism that allows a continuous and dynamic updating of the training actions and contents, a mechanism able to persist even after the project completion. TO.ACTION will enable easier access to the research literature and may speed up the progress of science itself. The project will do so through initiatives that will raise awareness of OA among a range of other stakeholder groups who are essentially consumers (rather than producers) of OA information. These groups would benefit from a better understanding of the potential that OA represents for their respective goals and the skills needed to access and exploit OA outputs.
Category: Economics and Finance

[60] viXra:1309.0119 [pdf] submitted on 2013-09-17 10:10:51

Simultaneous Maximisation in Economic Theory

Authors: Ate Nieuwenhuis
Comments: 31 Pages. 6 black-and-white figures

This document provides translations of two important but neglected articles of Bruno de Finetti, Problemi di "optimum" and Problemi di "optimum" vincolato. The articles deal with the theory of simultaneously maximising a number of functions. A major field of application is economic theory, which through the assumption of rational, maximising behaviour of all participants defines a set of interdependent maximum problems as its model of the world.
Category: Economics and Finance

[59] viXra:1309.0118 [pdf] submitted on 2013-09-17 10:26:47

Reconsidering Nash: the Nash Equilibrium is Inconsistent

Authors: Ate Nieuwenhuis
Comments: 29 Pages. 4 tables, 6 color figures

This paper tries to rekindle the revolution in economic theory that Von Neumann and Morgenstern intended to unleash, but that was smothered by Nash. The assumption of rational, maximising behaviour by the participants in a social exchange economy leads to a set of interdependent maximum problems. The appropriate treatment of this kind of problem is provided by the theory of simultaneous maximisation, systematically studied for the first time by Bruno de Finetti. Cooperative game theory is a branch of simultaneous maximisation. Non-cooperative game theory errs in deriving the first-order conditions and yields conflicting outcomes for equivalent problems; a prime example is the Cournot equilibrium's differing from the Bertrand equilibrium. The analysis implies that large parts of positive economics must be revised, that normative economics is impossible, and that a stronger assumption is needed for economics to make determinate predictions of how money makes the world go round.
Category: Economics and Finance

[58] viXra:1309.0103 [pdf] submitted on 2013-09-17 03:17:36

Intellectual Capital

Authors: Rushchak Ekaterina, Chentsova Ekaterina, Lebedev Vladimir, Yadrin Alexander
Comments: 5 Pages. The article was presented in conference of North West Academy of Public Administration

This arcicle has a theoretical description of intellectual capital. Russian authors shows some specifics country's human capital and it's correlation with nation welfare. The article could be interesting for reseachers of questions of economy.
Category: Economics and Finance

[57] viXra:1308.0144 [pdf] submitted on 2013-08-27 22:15:53

The Trickle up Effect: a Collection of Economic and Scientific Papers

Authors: Florentin Smarandache, Victor Christianto
Comments: 139 Pages. This book is not yet published. We welcome comments and suggestions.

This book consists of a number of economics, mathematics, and scientific papers, covering different subjects, from global corporate control to cosmology issues. Hopefully the readers will find some interesting discussions in this collection. The trickle-up effect is defined here as a reverse process from the ‘expected’ trickle-down effect, a well known effect which is supposed to happen during development process. According to an article in the Center of Progressive Economics: “Libertarians contend that the prosperity generated at the top of the economic latter will trickle down to everyone else.” But the problem with pure laissez-faire economics is that the wealth generated at the top does not trickle down to the rest of society to a sufficient extent.
Category: Economics and Finance

[56] viXra:1307.0097 [pdf] submitted on 2013-07-19 19:52:03

On Global Corporate Control, Federal Reserve, and the Great Theft 2007-2010

Authors: Victor Christianto, Florentin Smarandache
Comments: 11 Pages. This paper has not been submitted yet to any journal.

A common intuition among scholars and in the media sees the global economy as being dominated by a handful of powerful transnational corporations (TNCs). However, such an assumption has not been confirmed by numerical data until recently, in a report by Vitali, Glattfelder, and Battiston [1]. They gave a list of 50 most elite TNCs, which were called “super-entity”, along with other 97 TNCs which were not mentioned in their list. This super-entity is supposed to be more powerful than the core, consisting of 1,318 corporations. In this paper we expose for the first time that Vitali et al.’s finding on these super-entity TNCs apparently does not match exactlywith recipients of secret funds given by the Federal Reserve Bank of USA (the Fed) during2007-2010. Therefore, it seems that more investigations are needed on the nature of the financial corporate which received secret funds from the Fed, because those recipients of fund from Fed appear to be more powerful than the 147 super-entity TNCs. Although we give references on several papers which outlined the implications of this finding to global economy, in this paper we give no prescription on how to improve the global economy architecture. We reserve this issue for a future paper.
Category: Economics and Finance

[55] viXra:1304.0033 [pdf] submitted on 2013-04-06 15:09:39

Problems with the "End of Growth" Hypothesis and Its Generalization

Authors: Sierra Rayne, Kaya Forest
Comments: 12 Pages.

The hypothesis that the global economy has entered, or is nearing, the "end of growth" has been proposed in the literature. Overall, we find no significant evidence to support this hypothesis, or that such economic limits are about to be reached in the near-term. Our conclusions in no way diminish concerns over current and proposed rates of non-renewable resource extraction and the negative impacts of continuing human population growth and industrial expansion on the biosphere. However, any natural system limits that have been reached or exceeded (or are about to be) do not appear to be causing sufficiently large negative feedbacks on global economic growth within the scope of the most commonly employed socio-economic indicators in order to warrant claims that future economic growth will halt or regress.
Category: Economics and Finance

[54] viXra:1303.0155 [pdf] submitted on 2013-03-21 07:51:58

Portfolio Investments Spesifics of Commercial Banks

Authors: Yadrin Alexander
Comments: 4 Pages. This article was discussed at PHD Russian- German seminar

This article briefly discusses the modern problem of commercial banks in the fund's formation. It has basic definition and characteristics of the portfolio investment in the banking.
Category: Economics and Finance

[53] viXra:1303.0049 [pdf] submitted on 2013-03-07 11:27:20

What is Economic Surplus?

Authors: Andrew Nassif
Comments: 4 Pages. A short summary on economic surplus

Economic surplus could mean up to three things: excess of supplies, an extent in which people’s assets exceeds their liability, profits remaining after a company subtracts their major expenses. Another word for Economics surplus is Marshallian Surplus, named after the great economics himself Alfred Marshall. The two types of surplus are consumer and producer surplus. Consumer surplus is the monetary gain of an item purchased by the consumer. Producer’s surplus is the producer/company’s benefit of bringing an item to the market for a certain price. Paul Baran, introduced Marshall’s concept as having to do with supply and demand. Meaning when the producer’s supplies meet the consumer’s demand then it is a mutual economic surplus.
Category: Economics and Finance

[52] viXra:1302.0140 [pdf] submitted on 2013-02-20 19:13:40

Collection of Social and Economics Papers

Authors: Florentin Smarandache, Victor Christianto
Comments: 93 Pages. This book is not yet published.

This book consists of six social and economics papers. It discusses a wide range of topics including graph distance, urbanization and capitalism. This book is suitable for economists and also physicists who want to know more about economics issues.
Category: Economics and Finance

[51] viXra:1302.0131 [pdf] submitted on 2013-02-19 13:09:01

Great Minds of Economics

Authors: Andrew Nassif
Comments: 6 Pages.

A history of three hand picked rich CEOs and theorizations on how they achieved to get where they are today. This also includes information on the definition of assets, and keys to using SEO in your business.
Category: Economics and Finance

[50] viXra:1302.0052 [pdf] submitted on 2013-02-09 11:46:12

Loss of Self-Control in Intertemporal Choice May be Attributable to Logarithmic Time-Perception

Authors: Taiki Takahashi
Comments: 7 Pages.

Impulsivity and loss of self-control in drug-dependent patients have been associated with the manner in which they discount delayed rewards. Although drugs of abuse have been shown to modify perceived time duration, little is known regarding the relationship between impulsive decision-making in intertemporal choice and estimation of time-duration. In classical economic theory, it has been hypothesized that people discount future reward value exponentially. In exponential discounting, a temporal discounting rate is constant over time, which has been referred to as dynamic consistency. However, accumulating empirical evidence in biology, psychopharmacology, behavioral neuroscience, and neuroeconomics does not support the hypothesis. Rather, dynamically inconsistent manners of discounting delayed rewards, e.g., hyperbolic discounting, have been repeatedly observed in humans and non-human animals. In spite of recent advances in neuroimaging and neuropsychopharmacological study, the reason why humans and animals discount delayed rewards hyperbolically is unknown. In this study, we hypothesized that empirically-observed dynamical inconsistency in intertemporal choice may result from errors in the perception of time duration. It is proposed that perception of temporal duration following Weber's law might explain the dynamical inconsistency. Possible future study directions for elucidating neural mechanisms underlying inconsistent intertemporal choice are discussed.
Category: Economics and Finance

[49] viXra:1302.0031 [pdf] submitted on 2013-02-05 23:29:10

Molecular Neuroeconomics of Crime and Punishment: Implications for Neurolaw.

Authors: Taiki Takahashi
Comments: 18 Pages.

Criminal behaviors have been associated with risk, time and social preferences in economics (Becker, 1968; Davis, 1988), criminology (Chamlin and Cochran, 1997), and neurolaw (Goodenough and Tucker, 2010). This study proposes a molecular neuroeconomic framework for the investigation into crime and punishment. Neuroeconomic parameters (e.g., risk-attitude, probability weighting, time discounting in intertemporal choice, loss aversion, and social discounting) are predicted to be related to criminal behavior. Neurobiological and neuroendocrinological substrates such as serotonin, dopamine, norepinephrine, cortisol (a stress hormone), sex hormones (e.g., testosterone), and oxytocin in brain regions such as the orbitofrontal cortex, the amygdala, and the cingulate may be related to the neuroeconomic parameters governing criminal behaviors. The present framework may help us develop “neurolaw” based on molecular neuroeconomics of criminal and antisocial decision-making processes.
Category: Economics and Finance

[48] viXra:1302.0030 [pdf] submitted on 2013-02-05 23:39:25

Time Discounting: Psychophysics of Intertemporal and Probabilistic Choices

Authors: Taiki Takahashi, Ruokang Han, Fumihiko Nakamura
Comments: 11 Pages.

Intertemporal and probabilistic choices have been attracting attention in behavioral neuroeconomics. Although recent advances in neuroeconomics demonstrated neural processes underlying intertemporal and probabilistic choices, the roles of psychophysical effects on the choices have largely been understudied. In this paper, we review the roles of psychophysical effects in time and risk attitudes. It is shown that Loewenstein-Prelec’s generalized hyperbolic temporal discount function (Loewenstein and Prelec, 1992) and Prelec’s probability weighting function (Prelec, 1998) are naturally derived from psychophysical laws of time-perception.
Category: Economics and Finance

[47] viXra:1301.0182 [pdf] submitted on 2013-01-29 19:13:37

On the Complexity Approach to Economic Development

Authors: Sabiou Inoua
Comments: 30 Pages.

Abstract The standard approach to economic growth and development consists of simplifying the products and the inputs of an economy to aggregate variables, GDP, labor and capital, thus overlooking the complexity of modern economies. Recently, two authors, Hausmann and Hidalgo, initiated an alternative framework where complexity is precisely the key concept, for it is identified to be the driving force behind economic development: rich countries have complex economies, and they make products that reflect this complexity. The aim of this paper is threefold. First, we discuss some conceptual and empirical limitations of the standard theories, in particular the aggregation problem they suffer from. Second, we make a succinct presentation of the complexity approach as an alternative account on economic development. Finally, we use a simple model to explain the phenomenon of divergence and poverty trap, building on ideas developed by the authors. This model allows for more: it provides a rationale for the interpretation of ECI as a measure of the productive knowledge embedded in an economy (i.e. the number of capabilities it has), and its confrontation with the data will make it possible to compute the number of capabilities for each country compatible with its observed ECI.


Category: Economics and Finance

[46] viXra:1301.0094 [pdf] submitted on 2013-01-15 22:19:00

British Columbia's Carbon Tax: Greenhouse Gas Emission and Economic Trends Since Introduction

Authors: Sierra Rayne, Kaya Forest
Comments: 5 Pages.

In 2008, the Canadian province of British Columbia introduced a carbon tax starting at CAD$10 per tonne of carbon dioxide equivalent (CO2e) and rising by CAD$5/tonne CO2e/year to a 2012-2013 value of CAD$30/tonne CO2e. In the current work, we find no clear evidence over the short post-tax period of record that unequivocally links British Columbia's carbon tax to significant reductions in provincial greenhouse gas emissions. There are indications the implementation of this tax may have negatively impacted British Columbia's economic performance relative to the rest of Canada. A longer post-tax period of record is likely necessary in order to reliably determine what, if any, economic and environmental effects have been generated from British Columbia's carbon tax.
Category: Economics and Finance

[45] viXra:1212.0143 [pdf] submitted on 2012-12-24 11:17:22

Do Sovereign Wealth Funds Effectively Dampen Exchange Rate Variability?

Authors: Sierra Rayne, Kaya Forest
Comments: 4 Pages.

Sovereign wealth funds (SWFs) are receiving significant attention from nations with substantial and sustained foreign reserves derived via natural resource development and/or manufacturing based export-led economies as a means of achieving intergenerational equity, government savings, and stable currency exchange rates. Based on an analysis of currency variability for representative export-led nations with and without SWFs between 1999 and 2012, the case for SWF-based currency sterilization requires further investigation. Furthermore, several nations undergoing active policy debates regarding the possible implementation of SWFs may not have current account balances suitable for accruing all perceived SWF benefits.
Category: Economics and Finance

[44] viXra:1211.0135 [pdf] submitted on 2012-11-22 18:28:27

Transitioning from a Goods-Dominant to a Service-Dominant Logic: Visualising the Value Proposition of Rolls-Royce

Authors: Irene Ng, Glenn Parry, Laura Smith, Roger Maull, Gerard Briscoe
Comments: 22 pages, 4 figures

Purpose: This paper presents a visualisation of the firm's offering from a Service-Dominant Logic (S-DLogic) perspective. The case of Rolls-Royce is presented as an avenue through which to explore an alternative view of the firm's value proposition, a visualisation informed by S-DLogic that could aid organisations in their transition from G-DLogic to S-DLogic. Design/methodology/approach: Through integration of an operations management approach in process mapping and design and simulation with choice modelling in B2B marketing this paper operationalises some of the key aspects of S-DLogic, most notably focusing on the constructs of value and resources. This is explored through a single case; Rolls-Royce which provides access to a rich source of internal and customer data. Findings: The study finds that the S-DLogic visualisation of the firm's value proposition in equipment-based service consists of its contribution to 11 value-creating activities towards value- in-use. The visualisation depicts both the highest possible bundle of benefits for the customer along with the resources and their costs associated with delivering those bundles. When brought together these enable the identification of the optimal bundle of value-creating activities from both customer and firms' perspective. Practical implications: Our study suggests that the visualisation of the S-DLogic-informed value- creating service system can assist the firm in their transition from G-DLogic to S-DLogic through changing mindsets and interrogating existing boundaries and legacy knowledge in manufacturing. Originality/value: This paper provides empirical evidence of the difference between a G-DLogic and S-DLogic view of the firm's value proposition. In so doing, extending existing literature on S-DLogic by contributing to a methodological and empirical gap. Notably, it makes abstract concepts of S- DLogic concrete, providing a pathway for future empirical work and begins the process of systematising a methodology in S-DLogic.
Category: Economics and Finance

[43] viXra:1211.0108 [pdf] submitted on 2012-11-18 17:18:57

Empirical Investigation of the Endogenous Regulation of Production by Assets for Cge Models

Authors: Stuart J. Nettleton
Comments: 18 Pages.

Asset turnover has been used for approximately a century in corporate capital allocation. Capital expansion coefficients have been used in the Leontief Dynamic Model but the use of asset turnover ratios to regulating production growth in Computable General Equilibrium models has been limited. This research investigates the hypothesis that there is a causal relationship between productive assets and production of commodities. The hypothesis is tested in global economic data using static and chain probabilistic graphical model selection. It was found that the hypothesis is supported for a significant number of commodities. The confirmation of the hypothesis establishes that production to assets ratios for commodities are endogenous regulators of production growth.
Category: Economics and Finance

[42] viXra:1211.0039 [pdf] submitted on 2012-11-07 15:42:40

Referential JPY based on CPI

Authors: Jose D Perezgonzalez
Comments: 3 pages, Journal of Knowledge Advancement & Integration (ISSN 1177-4576), Wiki of Science, Creative Commons Attribution-ShareAlike 3.0 License

This article provides a standard measure for improving communication in the financial sciences. It provides the inflator/deflator multiplier for calculating referential Japanese yen (rJPY, r¥). It is based on the average annual CPI for Japan (Rate Inflation, 2011).
Category: Economics and Finance

[41] viXra:1211.0030 [pdf] submitted on 2012-11-06 15:44:02

Referential CAD based on CPI

Authors: Jose D Perezgonzalez
Comments: 4 pages, Journal of Knowledge Advancement & Integration (ISSN 1177-4576), Wiki of Science, Creative Commons Attribution-ShareAlike 3.0 License

This article provides a standard measure for improving communication in the financial sciences. It provides the inflator/deflator multiplier for calculating referential Canadian dollars (rCAD, r$). It is based on the average annual CPI for Canada (Statistics Canada, 2011).
Category: Economics and Finance

[40] viXra:1211.0028 [pdf] submitted on 2012-11-05 21:50:33

Referential AUD based on CPI (2011e)

Authors: Jose D Perezgonzalez
Comments: 3 pages, Journal of Knowledge Advancement & Integration (ISSN 1177-4576), Wiki of Science, Creative Commons Attribution-ShareAlike 3.0 License

This article provides a standard measure for improving communication in the financial sciences. It provides the inflator/deflator multiplier for calculating referential AUS dollars (rAUD, r$). It is based on the average annual CPI, weighted average of 8 capital cities, for all groups (Rate Inflation, 2011).
Category: Economics and Finance

[39] viXra:1210.0183 [pdf] submitted on 2012-10-30 22:30:16

On the Security Design of Transportation Processes

Authors: Paul Krapivsky, Fang Chen, David Grace
Comments: 7 Pages.

The paper is focused on the primary issue of protection of transported cash and valuables during the transportation processes. This protection is implemented by workers of the commercial security industry. In this article are stated basic information about the organization and implementation of the transport towards the planning, and the use of defence resources. Emphasis is placed on information about the composition of transported means and their security features. Part of the article is devoted to tactical transport of cash and valuables by workers of the commercial security industry.
Category: Economics and Finance

[38] viXra:1210.0181 [pdf] submitted on 2012-10-30 14:52:54

Referential Eur Based on Hicp (2011e)

Authors: Jose D Perezgonzalez
Comments: 2 pages, Journal of Knowledge Advancement & Integration (ISSN 1177-4576), Wiki of Science, Creative Commons Attribution-ShareAlike 3.0 License

This article provides a standard measure for improving communication in the financial sciences. It provides the inflator/deflator multiplier for calculating referential euros (rEUR, r€). It is based on the average annual HICP for the euro area, changing composition (European Central Bank, 2011).
Category: Economics and Finance

[37] viXra:1210.0169 [pdf] submitted on 2012-10-28 16:15:15

Referential NZD based on CPI (2011e)

Authors: Jose D Perezgonzalez
Comments: 5 pages, Journal of Knowledge Advancement & Integration (ISSN 1177-4576), Wiki of Science, Creative Commons Attribution-ShareAlike 3.0 License

This article provides a standard measure for improving communication in the financial sciences. It provides the inflator/deflator multiplier for calculating referential New Zealand dollars (rNZD, r$). It is based on the average annual CPI for all groups (estimated from quarter inflation index values provided by the Reserve Bank of New Zealand).
Category: Economics and Finance

[36] viXra:1210.0144 [pdf] submitted on 2012-10-25 19:57:37

The Service Science of Climate Change Policy Analysis: Applying Sceptre (The Spatial Climate Economic Policy Tool for Regional Equilibria)

Authors: S. J. Nettleton
Comments: 43 Pages.

The use of Computable General Equilibrium modelling in evidence-based policy requires an advanced policy making frame of reference, advanced understanding of neoclassical economics and advanced operations research capabilities. This paper examines developments in neoclassical economic models for the analysis of strategy and policy. Regions and industries have the ever-present challenge of building a future where production is competitive and employment is durable. In this context, the inhibitor effects of potential climate constraints on regional industries and bilateral trade is currently a topic of major concern to polity. Threats often bring opportunities and these are sometimes major disruptions to traditional industry structure. Therefore of equal interest to some policy makers are the strategic opportunities that a window of superior domestic productivity and resource expansiveness may bring to nations seeking a transformative boost in export performance. The Spatial Climate Economic Policy Tool for Regional Equilibria (Sceptre) is an intertemporal, multiregional general equilibrium model for investigating regional and industry strategies in the presence of global policies such as carbon emission constraints. In its simplest mode, Sceptre translates global climate policies to regional and commodity effects. This is achieved by bringing together traditional markets for commodities with new markets in carbon commodities. These new markets are emission permits trading and a technology function for carbon abatement and amelioration. A general equilibrium is settled by optimising a social welfare function, in the mode of a Negishi format, within a nonlinear economic-climate feedback loop. Both the technology function for carbon abatement and amelioration and the economic-climate feedback loop have precedent in William Nordhaus' DICE model. The social welfare function comprises regional economic expansion factors, which are developed in a multiregional context using a data envelopment or benchmarking technique successfully applied by Thjis ten Raa to single period national and bilateral models. In a novel intertemporal innovation, Sceptre draws together disciplines of economics and finance by substituting resource constraints with Dupont sales to asset ratios in order to dynamically link and mediate the stocks and flows of each commodity. This avoids the issue in Ramsey models that investment is merely an uncontrolled residual of production and consumption, and the issue in the Leontief B-matrix approach that final industry assets are cannibalised. Regionally aggregated Make and Use matrices drawn from GTAP's Social Accounting Matrices are used in the underling economic model as regional-commodity production function tableaux. Outputs for policy consideration include global geophysical climate effects, regional and industry activity levels, bilateral trade flows, potential resource expansiveness, investment, labour and regional and industry rates of transition from carbon trading to carbon amelioration and abatement.
Category: Economics and Finance

[35] viXra:1210.0143 [pdf] submitted on 2012-10-25 15:52:02

Referential GBP based on CPI (2011e)

Authors: Jose D Perezgonzalez
Comments: 2 pages, Journal of Knowledge Advancement & Integration (ISSN 1177-4576), Wiki of Science, Creative Commons Attribution-ShareAlike 3.0 License

This article provides a standard measure for improving communication in the financial sciences. It provides the inflator/deflator multiplier for calculating referential British pounds (rGBP, r£), which is based on the average annual CPI for Great Britain (Rate Inflation, 2011).
Category: Economics and Finance

[34] viXra:1210.0138 [pdf] submitted on 2012-10-24 17:45:08

Referential Usd Based on Cpi-U (2011e)

Authors: Jose D Perezgonzalez
Comments: 4 pages, Journal of Knowledge Advancement & Integration (ISSN 1177-4576), Wiki of Science, Creative Commons Attribution-ShareAlike 3.0 License

The following article provides the inflator/deflator multiplier for calculating referential US dollars (rUSD, r$). It is based on the average value of the United States consumer price index for all urban consumers - US CPI-U Average (United States Bureau of Labor Statistics, 20112). The CPI-U is a useful index for comparing the cost of consumer goods and services (Williamson, 2011), and represents well the consumer patterns of about 80% of the U.S. population (excluding rural consumers, the military and institutional populations - Wikipedia, 2011).
Category: Economics and Finance

[33] viXra:1210.0105 [pdf] submitted on 2012-10-19 07:59:06

A Study of Economic Security

Authors: Martin Singer, Jose M. Consuelo
Comments: 7 Pages.

This paper divides the economic costs of terrorism into short term and long term costs. The authors consider as short-term costs following examples: losses in the form of immediate shock, loss of life and property values, which are followed by negative effects on the insurance, short-term investments, stock markets, tourism and its associated employment. Simultaneously, they believe that long-term costs of terrorism lie in permanent slowdown in economic growth for both the national and international economy. The authors warn of the forced expenditure on security, supply chain security and supply system. They come to the conclusion that on the grounds of increasing risk of the terrorism, states are forced to transfer their resources from production an additional wealth to realization of security measures to protect existing resources, thus reducing the long-term productivity and output.
Category: Economics and Finance

[32] viXra:1209.0085 [pdf] submitted on 2012-09-24 15:17:51

Referential Currency (R)

Authors: Jose D Perezgonzalez
Comments: 3 pages, Journal of Knowledge Advancement & Integration (ISSN 1177-4576), Wiki of Science, Creative Commons Attribution-ShareAlike 3.0 License

This document describes a technological application for the field of economics. It aims to fix part of the economical wandering between the 'real' and 'nominal' value of money in order to increase standardization in reporting, as well as to allow for more meaningful comparisons in time and easier understanding by readers. The proposal made here is for a fix at sovereign currency levels rather than at international levels. That is, it works at the level of, for example, the US dollar, Australian dollar, British pound or Euro, but does not propose an international currency.
Category: Economics and Finance

[31] viXra:1205.0014 [pdf] submitted on 2012-05-03 14:17:24

Unsustainability

Authors: Bill Gaede
Comments: 4 Pages. ICBEC 2010, Hong Kong, China

Extrinsic agents such as extraterrestrial impacts and disease will not cause the extinction of Man, but rather the collapse of his artificial economy. We argue that there is no productive category of the economy beyond the Service Sector in which to shift the global work force. As the Agriculture, Manufacturing, and Service Sectors continue to shed workers in a bid to reduce costs, this inevitably feeds Unemployment. A global economic regime in which an ever decreasing pool of workers subsidizes an ever growing army of unemployed is axiomatically unsustainable and conduces to system breakdown. That fateful day, profit-minded agricultural corporations will have no further incentive to produce food or deliver it to the cities.
Category: Economics and Finance

[30] viXra:1202.0010 [pdf] submitted on 2012-02-03 06:54:25

Economics: Foundation and Unification of Supply-Side with Demand-Side Economics

Authors: Rodolfo Henrique Cerbaro
Comments: 10 Pages.

Two papers which provide the foundation of the human economy and the unification of the supply and demand-side schools of economic thought.
Category: Economics and Finance

[29] viXra:1201.0014 [pdf] submitted on 2012-01-05 13:24:54

Englobamento Econômico

Authors: Rodolfo Henrique Cerbaro
Comments: 2 Pages. In Portuguese

Municípios são englobados em decisões de política econômica de estados, que por sua vez são englobados nas decisões de países. Governos municipais, estaduais e federais precisam prestar atenção nos efeitos que uns exercem sobre os outros, já que, em prol de escolher a melhor política econômica possível precisa-se saber a posição da governança maior; e a governança maior deve adotar uma política econômica que beneficia a maioria da governança menor.
Category: Economics and Finance

[28] viXra:1112.0046 [pdf] submitted on 2011-12-16 08:17:13

Nonexistence of Risk-Neutral Measures

Authors: Adam Chmaj
Comments: 1 Page.

Any comments?
Category: Economics and Finance

[27] viXra:1111.0093 [pdf] submitted on 24 Nov 2011

Armadilhas Fiscais e Monetárias

Authors: Rodolfo Henrique Cerbaro
Comments: 5 pages.

Especificou-se em trabalhos passados como uma economia começa (Ignição do Crescimento Econômico) e como a governança desta deve ser em diferentes fases do crescimento (Crescimento, Economia de Oferta e de Demanda). Com a compreensão da formação da economia e de quais políticas fiscais e monetárias adotar no progredir desta no tempo, ou seja, sabendo-se como governar, tem-se apenas que lidar com as armadilhas fiscais e monetárias que se encontram pelo caminho durante a governança. Aqui buscamos compreender as causas destas armadilhas e prover aos governantes maneiras de evitá-las e resolvê-las, objetivando a proteção da economia e, consequentemente, dos agentes econômicos presentes nesta.
Category: Economics and Finance

[26] viXra:1110.0067 [pdf] submitted on 25 Oct 2011

Ignição do Crescimento Econômico

Authors: Rodolfo Henrique Cerbaro
Comments: 4 pages

Considere uma área na qual não há população, então não há circulação de bens e serviços. Se um grupo de pessoas sem riqueza decide popular a área, eles não podem viver através de serem prestadores de serviços ou comerciantes, já que não há ninguém para pagar por seus serviços ou prover lucro para o comércio na área. A única maneira de pessoas sem riqueza sobreviverem é através de fazer uso dos recursos naturais (bens) da região ou produzir bens, então elas terão algo com o qual trocar com prestadores de serviços e comerciantes, atiçando-os para a área com advinda demanda por serviços e bens. Quanto às pessoas que têm riqueza e se instalam em uma área inabitada, elas irão querer trazer trabalhadores para ter suas necessidades satisfeitas sem a necessidade de longa locomoção. Aqui nós propomos que a ignição, o começar, do crescimento econômico numa dada localidade geográfica só pode tomar duas formas comuns (dependente da produção de bens e dependente da instalação de indivíduos com condições financeiras na área). Fora do patamar comum, discutem-se três formas excepcionais (dependente do turismo, dependente da prestação de serviços que utilizam telecomunicação, ou seja, 'exportação de serviços' e dependente do comércio cuja clientela é transeunte) e 26 (vinte seis) formas mistas, que ocorrem em regiões onde a ignição se dá simultaneamente por uma junção entre as formas.
Category: Economics and Finance

[25] viXra:1110.0064 [pdf] submitted on 24 Oct 2011

Crescimento, Economia de Oferta e de Demanda

Authors: Rodolfo Henrique Cerbaro
Comments: 6 pages, in Portuguese

Considere riqueza circulando em uma dada localidade geográfica, já que há circulação de bens e serviços. O que pode causar que a circulação deles diminua, estagne ou enfrente crescimento lento nesta localidade? Somente a riqueza não circular na região, isto é, não haver demanda. Então, o que faz com que economia de oferta seja pensada como uma opção viável para muitos e qual seu papel no crescimento de uma economia? Aqui nós discutimos crescimento e contrastamos a lógica da economia de demanda com a escola de pensamento da economia de oferta, através de uma perspectiva baseada na ignição econômica, prosseguindo do nosso trabalho prévio no assunto. Com isto, pretendemos mostrar que tanto economia de oferta quanto de demanda tem um dado, mas específico e não relacionado, papel no crescimento econômico e que o único fator que influencia o crescimento é se a riqueza está circulando na dada localidade geográfica. O presente trabalho se foca na discussão do pós-ignição de uma economia humana.
Category: Economics and Finance

[24] viXra:1103.0083 [pdf] submitted on 21 Mar 2011

Economic Parameters of an Ideal Society

Authors: Subhajit Ganguly
Comments: 6 pages.

The issues regarding the functioning and growth of an ideal economic society is the subject of investigation here. One basic guideline for such a society is that it must have total control over its economics and that money cannot drive such a society from pillar to post. The equal right of every individual over the basic amenities to live and grow and equal right of every individual over the resources, ensuring no misuse of the society's resources may be taken care of by controlling the market through a control-parameter, decided upon by the society.
Category: Economics and Finance

[23] viXra:1102.0047 [pdf] submitted on 25 Feb 2011

A Comment on World Population Growth Rate and World3 Simulation

Authors: V. Christianto
Comments: 13 pages.

In the present article the writer discuss a number of alternative model of world population growth.
Category: Economics and Finance

[22] viXra:1101.0060 [pdf] submitted on 19 Jan 2011

Krugman's War for Supporting a Long Festering Populist Superficiality

Authors: Elemér E Rosinger
Comments: 4 pages

It is suggested that, unlike the long practiced traditional superficial approaches to human issues, like those pursued by Krugman among many others, one should give serious consideration to the frequent fact that individuals coming from the same family background, thus with the same racial, ethnic, cultural, economic and social initial conditions, often diverge immensely in their adult lives across ranges between honest work and crime, extremist and moderate politics, or atheism and religion, among others. Presently, no social, political or economics science deals in the least with that issue.
Category: Economics and Finance

[21] viXra:1101.0036 [pdf] submitted on 10 Jan 2011

Open Letter to P Krugman

Authors: Elemér E Rosinger
Comments: 4 pages

It is suggested that psychological aspects of the behaviour of the general population with respect to economics - advocated by Krugman, following the economic crises of 2008 - should be extended to economists as well, in order to avoid the excessive and mostly senseless polarization of economists in opposing ideological camps, a polarization still so dominant nowadays.
Category: Economics and Finance

[20] viXra:1008.0002 [pdf] submitted on 1 Aug 2010

The Emerging Clan Capitalism in the World

Authors: V. Christianto
Comments: 21 Pages.

In the present article a number of critical economics situations are discussed based on clan capitalism as starting point. One can see clearly then, that instead of assuming 'ordinary economy' and clan/crony capitalism is an exception in particular nation because of certain socio-historical context, one should begin with the opposite assumption instead: that can capitalism can be found almost everywhere in this planet.
Category: Economics and Finance

[19] viXra:1004.0124 [pdf] submitted on 10 Mar 2010

Computational Modeling in Applied Problems: Collected Papers on Econometrics, Operations Research, Game Theory and Simulation

Authors: Florentin Smarandache, Sukanto Bhattacharya, Mohammad Khoshnevisan
Comments: 109 pages.

Computational models pervade all branches of the exact sciences and have in recent times also started to prove to be of immense utility in some of the traditionally 'soft' sciences like ecology, sociology and politics. This volume is a collection of a few cuttingedge research papers on the application of variety of computational models and tools in the analysis, interpretation and solution of vexing real-world problems and issues in economics, management, ecology and global politics by some prolific researchers in the field.
Category: Economics and Finance

[18] viXra:1004.0095 [pdf] submitted on 19 Apr 2010

Notion of Neutrosophic Risk and Financial Markets Prediction

Authors: Sukanto Bhattacharya
Comments: 7 pages.

The efficient market hypothesis based primarily on the statistical principle of Bayesian inference has been proved to be only a special-case scenario. The generalized financial market, modeled as a binary, stochastic system capable of attaining one of two possible states ...
Category: Economics and Finance

[17] viXra:1004.0093 [pdf] submitted on 19 Apr 2010

The Israel-Palestine Question - A Case for Application of Neutrosophic Game Theory

Authors: Sukanto Bhattacharya, Florentin Smarandache, Mohammad Khoshnevisan
Comments: 10 pages.

In our present paper, we have explored the possibilities and developed arguments for an application of principles of neutrosophic game theory as a generalization of the fuzzy game theory model to a better understanding of the Israel-Palestine problem in terms of the goals and governing strategies of either side. We build on an earlier attempted justification of a game theoretic explanation of this problem by Yakir Plessner (2001) and go on to argue in favour of a neutrosophic adaptation of the standard 2x2 zero-sum game theoretic model in order to identify an optimal outcome
Category: Economics and Finance

[16] viXra:1004.0085 [pdf] submitted on 9 Mar 2010

Global Totalitarianism and the Crisis of Neo-Lib Movement

Authors: Florentin Smarandache
Comments: 10 pages.

During the past decades there are growing concerns on the escalation and massive deprivation of the public life's quality, which some researchers attribute these as effects of the so-called 'Globalization'. To cite a few books, Prof. J. Stiglitz's book "Globalization and its Discontent" has sparked debate all over the world. A somewhat less known book which is worth to mention here is N. Hertz's book "The Silent Takeover." The present article may not offer something new compared to the aforementioned 'standard literature' in the critical analysis of globalization, but we discuss some hints on deep the root causes of the problems related to globalization, not only at phenomenological-social level but also at mathematical foundations of economics theory itself, namely the notion of 'utility'.
Category: Economics and Finance

[15] viXra:1004.0017 [pdf] submitted on 8 Mar 2010

Conditional Probability of Actually Detecting a Financial Fraud a Neutrosophic Extension to Benford's Law

Authors: Sukanto Bhattacharya, Kuldeep Kumar, Florentin Smarandache
Comments: 9 pages

This study actually draws from and builds on an earlier paper (Kumar and Bhattacharya, 2002). Here we have basically added a neutrosophic dimension to the problem of determining the conditional probability that a financial fraud has been actually committed, given that no Type I error occurred while rejecting the null hypothesis H0: The observed first-digit frequencies approximate a Benford distribution; and accepting the alternative hypothesis H1: The observed first-digit frequencies do not approximate a Benford distribution. We have also suggested a conceptual model to implement such a neutrosophic fraud detection system.
Category: Economics and Finance

[14] viXra:1003.0251 [pdf] submitted on 8 Mar 2010

Introduction to Poly-Emporium Theory in Economics

Authors: V. Christianto, Florentin Smarandache
Comments: 11 pages

We propose the poly-emporium theory. A search done in Google on May 3rd, 2008, for the term "poly-emporium" returned no entry, so we introduce it for the first time.
Category: Economics and Finance

[13] viXra:1003.0237 [pdf] submitted on 8 Mar 2010

A Note on Exchange Rate Management and Gravity Equation: Developing Country's Viewpoint

Authors: V. Christianto, Florentin Smarandache
Comments: 6 pages

In the last few decades, the flexible exchange rate has become the predominating policy implemented by most countries in the World, except only a few countries who can keep their exchange rates fixed. The predominating position can be attributed mainly to Milton Friedman's strong support. What is less known, nonetheless, is a hidden premise that the flexible exchange rate policy will help fiscal policy in the sense that only governments who do not manage the fiscal policy properly will get 'punished' by exchange rate decreases. But as the US-Japan experience showed [1], this widely-held assumption is often not realistic. The same experience has been observed in other countries too, i.e. that financial liberalization including flexible exchange rate often became precursor of financial instability [2]. While in the past year, in Indonesia for particular, the exchange rate remains stable, it does not mean that it would be free from troubles in the future. Therefore it is worthwhile to explore some other choices for better exchange rate policy. In the present paper will discuss, albeit in somewhat 'crude' manner, some long-term approaches which have been discussed in the literature, and also not-so conventional approaches which may be suitable for short term purposes. The basic proposition in the present paper is that we argue in favor of returning to fixed (or pegging) exchange rate, but of course it is not realistic to promote this policy for the short-term future. Therefore we explore some unconventional alternatives for short-term. It is our hope that the proposition would be useful to explore further by the economics policy makers.
Category: Economics and Finance

[12] viXra:1003.0201 [pdf] submitted on 6 Mar 2010

Cultural Advantages in China: Tale of Six Cities

Authors: Fu Yuhua, Florentin Smarandache, V. Christianto
Comments: 96 pages

Nowadays, plenty of factories from Europe and other developed countries have been relocated to this country, considering its tremendous economic scale and rapid growth rate during the past three decades. But most of what happens inside the China nowadays is deeply hidden from the outside world ("the foreigners" as China people would call). This fact is partly because most reports on China were written by the so-called fly-high experts who are busy completing their reports despite a busy schedule. Very few books or reports were written by people inside, or at least "foreigners" who spent a few years in China. Therefore in this book, we took a different approach, by inviting local scientists and other writers to describe what happens surround them.
Category: Economics and Finance

[11] viXra:1003.0200 [pdf] submitted on 6 Mar 2010

Cultural Advantage for Cities an Alternative for Developing Countries

Authors: V. Christianto, Florentin Smarandache
Comments: 63 pages

After more than a decade Michael Porter's book Competitive Advantage of Nations stays ahead of the other books, in particular as alternative framework from the comparative advantage idea inspired by Adam Smith. This small book is merely an alternative proposition, a postscript perhaps, to Porter's book, with basic idea that one cannot rely merely on industrial processes alone to keep stay ahead of market changes. Hence, for cities in developing countries the municipal shall find out their city's best resources, and develop their city starting from there, instead of striving blindly in the conventional industrial path.
Category: Economics and Finance

[10] viXra:1003.0184 [pdf] submitted on 6 Mar 2010

Cultural Advantage as an Alternative Framework: An Introduction

Authors: Florentin Smarandache, V. Christianto
Comments: 11 pages

Despite the economics jargon on 'rational choice', nowadays the entire world has nothing else to choose except to succumb under the spell of magic words of modern economics, i.e. 'neoliberalism', 'financial liberalization', 'free market' (laissez-faire), and 'globalization'. All of these can be shown to be part of a preconception, i.e. far beyond the 'neutral' idea of natural sciences. In Fritjof Capra's book 'Turning Point' (Bantam Books, 1982) these phenomena are summarized as follows: economics thinking have started by assuming that in economics sciences one can achieve the same generality and universality that physicists enjoy in doing Natural Sciences. In other words, economists try to become through their work 'hard science' rather than recognizing that in economics the subject of their study is human/people which is far from being predictable, either as individual or as society. In our humble opinion, economics is a mixture of both, hard and soft sciences. In order to show this, we introduce a new study, called Poly-Emporium Theory, where we show that phenomena from hard science and soft science co-exist and interact in economics. Poly-Emporium Theory is the study of interactions among many (big and small) firms in the market, and it is different from oligopoly since poly-emporium takes into consideration the small firms too (not only the big firms that dominate the market as in oligopoly). The above logic of thinking is the starting point to submit a new idea, under the heading of 'Cultural Advantage.' The first book in the series has title: Cultural Advantage for Cities: An alternative for Developing Countries. This presentation summarizes its basic ideas, with a hope that these ideas may be found interesting to develop further. For clarity the readers are referred to the book.
Category: Economics and Finance

[9] viXra:1003.0133 [pdf] submitted on 6 Mar 2010

Utility of Choice: An Information Theoretic Approach to Investment Decision-making

Authors: M. Khoshnevisan, Florentin Smarandache, Sukanto Bhattacharya
Comments: 18 pages

In this paper we have devised an alternative methodological approach for quantifying utility in terms of expected information content of the decisionmaker's choice set. We have proposed an extension to the concept of utility by incorporating extrinsic utility; which we have defined as the utility derived from the element of choice afforded to the decision-maker by the availability of an object within his or her object set. We have subsequently applied this extended utility concept to the case of investor utility derived from a structured, financial product - an custom-made investment portfolio incorporating an endogenous capital-guarantee through inclusion of cash as a risk-free asset, based on the Black-Scholes derivative-pricing formulation. We have also provided instances of potential application of information and coding theory in the realms of financial decision-making with such structured portfolios, in terms of transmission of product information.
Category: Economics and Finance

[8] viXra:1003.0131 [pdf] submitted on 6 Mar 2010

Computational Exploration of Investor Utilities Underlying a Portfolio Insurance Strategy

Authors: M. Khoshnevisan, Florentin Smarandache, Sukanto Bhattacharya
Comments: 24 pages

In this paper we take a look at a simple portfolio insurance strategy using a protective put and computationally derive the investor's governing utility structures underlying such a strategy under alternative market scenarios. Investor utility is deemed to increase with an increase in the excess equity generated by the portfolio insurance strategy over a simple investment strategy without any insurance. Three alternative market scenarios (probability spaces) have been explored - "Down", "Neutral" and "Up", categorized according to whether the price of the underlying security is most likely to go down, stay unchanged or go up. The methodology used is computational, primarily based on simulation and numerical extrapolation. The Arrow-Pratt measure of risk aversion has been used to determine how the investors react towards risk under the different scenarios.
Category: Economics and Finance

[7] viXra:1003.0129 [pdf] submitted on 6 Mar 2010

Fuzziness and Funds Allocation in Portfolio Optimization

Authors: Jack Allen, Sukanto Bhattacharya, Florentin Smarandache
Comments: 21 pages

Each individual investor is different, with different financial goals, different levels of risk tolerance and different personal preferences. From the point of view of investment management, these characteristics are often defined as objectives and constraints. Objectives can be the type of return being sought, while constraints include factors such as time horizon, how liquid the investor is, any personal tax situation and how risk is handled. It's really a balancing act between risk and return with each investor having unique requirements, as well as a unique financial outlook - essentially a constrained utility maximization objective. To analyze how well a customer fits into a particular investor class, one investment house has even designed a structured questionnaire with about two-dozen questions that each has to be answered with values from 1 to 5. The questions range from personal background (age, marital state, number of children, job type, education type, etc.) to what the customer expects from an investment (capital protection, tax shelter, liquid assets, etc.). A fuzzy logic system has been designed for the evaluation of the answers to the above questions. We have investigated the notion of fuzziness with respect to funds allocation.
Category: Economics and Finance

[6] viXra:1001.0037 [pdf] submitted on 26 Jan 2010

Answer to the Question What is Money: Gauge Freedom

Authors: Dainis Zeps
Comments: 5 pages, Article deposited in http://mpra.ub.uni-muenchen.de/14453/

We suggest new approach to what should be considered money. We argue that not money itself should be measurable quantity but change of it, thus, entering gauge freedom action in economics in analogy with what we perceive what concerns nature how it is described by theoretical physics.
Category: Economics and Finance

[5] viXra:1001.0036 [pdf] submitted on 26 Jan 2010

World's Economy: What is Money?

Authors: Dainis Zeps
Comments: 8 pages. Article deposited in http://mpra.ub.uni-muenchen.de/14416/

Today economy is run without knowing the rules, or what is run whatsoever. Perhaps commonwealth should be allowed to function under its own laws that could be discovered similarly to those, say, in physics or biology. Moreover, perhaps the quantity value of what money measures could be discovered as well. Greed in whatever appearance, direct or hidden, should be detected as maleficence and excluded completely from scientifically guided economy.
Category: Economics and Finance

[4] viXra:0912.0046 [pdf] submitted on 19 Dec 2009

Essays on Science Management

Authors: Elemér E Rosinger
Comments: 61 pages.

Several recent essays are presented on the difficulties scientific research and science researchers have by now been facing for a number of decades due to what goes by the name of "science management".
Category: Economics and Finance

[3] viXra:0912.0042 [pdf] submitted on 19 Dec 2009

Wealth Creation and Science Research :Science Research, the Root of Wealth in Our Knowledge Society, is Endangered

Authors: Elemér E Rosinger
Comments: 13 pages.

Two vastly different historical stages in wealth creation are the traditional one based on agriculture during past millennia, and the one based on science research in our present globalizing knowledge society. The differences happen to be so considerable, and the emergence of the second stage relatively so recent, that the awareness of the full range of consequences regarding the proper pursuit of science research, which is the root of wealth in our knowledge society, is missing to an extent that may, even in the medium term, seriously endanger the sustainability of modern human society.
Category: Economics and Finance

[2] viXra:0912.0035 [pdf] submitted on 16 Dec 2009

Notes on Utility: Some Factors which Contribute to Individual Achievement and Plausible Relation to Welfare

Authors: V. Christianto
Comments: 8 Pages.

We love you all nations, but time is very limited. Be hurry, be hurry to repent and receive Me, Jesus Christ. Me will come again very very soon, and you should know that it is good not for your health to do not repent and do not receive Me, Jesus Christ. This paper describes a simple experiment in order to redefine utility term from the viewpoint of experimenter. We discuss how individual achievement can be broken down into a number of factors. We consider a number of factors which can be verified experimentally, and that's why this paper is original and new in nature. A discussion of implications of these factors for economics study is given.
Category: Economics and Finance

[1] viXra:0810.0004 [pdf] submitted on 11 Oct 2008

Cultural Advantage for Developing Countries: a Summary Note

Authors: Florentin Smarandache, V. Christianto
Comments: recovered from sciprint.org

Despite the economics jargon on 'rational choice', nowadays the entire world has nothing else to choose except to succumb under the spell of magic words of modern economics, i.e. 'neoliberalism', 'financial liberalization', 'free market' (laissez-faire), and 'globalization'. All of these can be shown to be part of a preconception, i.e. far beyond the 'neutral' idea of natural sciences. In Fritjof Capra's book 'Turning Point' (Bantam Books, 1982) these phenomena are summarized as follows: economics thinking have started by assuming that in economics sciences one can achieve the same generality and universality that physicists enjoy in doing Natural Sciences. In other words, economists try to become through their work 'hard science' rather than recognizing that in economics the subject of their study is human/people which is far from being predictable, either as individual or as society. In our humble opinion, economics is a mixture of both, hard and soft sciences. In order to show this, we introduce a new study, called Poly-Emporium Theory, where we show that phenomena from hard science and soft science co-exist and interact in economics. Poly-Emporium Theory is the study of interactions among many (big and small) firms in the market, and it is different from oligopoly since poly-emporium takes into consideration the small firms too (not only the big firms that dominate the market as in oligopoly). The above logic of thinking is the starting point to submit a new idea, under the heading of 'Cultural Advantage.' The first book in the series has title: Cultural Advantage for Cities: An alternative for Developing Countries.
Category: Economics and Finance

Recent Replacements

[11] viXra:1308.0144 [pdf] replaced on 2013-11-17 18:04:50

The Trickle up Effect: a Collection of Economic and Scientific Papers

Authors: Florentin Smarandache, Victor Christianto
Comments: 114 Pages. This book is not yet published. Comments and suggestions are welcome, send your comment to victorchristianto@gmail.com.

This book consists of a number of economics, mathematics, and scientific papers, covering different subjects, from global corporate control to cosmology issues. Hopefully the readers will find some interesting discussions in this collection. The trickle-up effect is defined here as a reverse process from the ‘expected’ trickle-down effect, a well known effect which is supposed to happen during development process. According to an article in the Center of Progressive Economics: “Libertarians contend that the prosperity generated at the top of the economic latter will trickle down to everyone else.” But the problem with pure laissez-faire economics is that the wealth generated at the top does not trickle down to the rest of society to a sufficient extent.
Category: Economics and Finance

[10] viXra:1307.0097 [pdf] replaced on 2013-07-24 20:45:08

On Global Corporate Control, Federal Reserve, and the Great Theft 2007-2010

Authors: Victor Christianto, Florentin Smarandache
Comments: 12 Pages. correction is made, a reference is added. This paper is not yet submitted to any journal.

A common intuition among scholars and in the media sees the global economy as being dominated by a handful of powerful transnational corporations (TNCs). However, such an assumption has not been confirmed by numerical data until recently, in a report by Vitali, Glattfelder, and Battiston [1]. They gave a list of 50 most elite TNCs, which were called “super-entity”, along with other 97 TNCs which were not mentioned in their list. This super-entity is supposed to be more powerful than the core, consisting of 1,318 corporations. In this paper we expose for the first time that Vitali et al.’s finding on these super-entity TNCs apparently does not match exactlywith recipients of secret funds given by the Federal Reserve Bank of USA (the Fed) during2007-2010. Therefore, it seems that more investigations are needed on the nature of the financial corporate which received secret funds from the Fed, because those recipients of fund from Fed appear to be more powerful than the 147 super-entity TNCs. Although we give references on several papers which outlined the implications of this finding to global economy, in this paper we give no prescription on how to improve the global economy architecture. We reserve this issue for a future paper.
Category: Economics and Finance

[9] viXra:1302.0140 [pdf] replaced on 2013-03-21 22:06:06

Clan Capitalism, Graph Distance, and Other Issues

Authors: Florentin Smarandache, Victor Christianto
Comments: 97 Pages.

This book consists of 6 papers focusing on social and economic issues. The topics covered include graph distance and optimal communication, migration in Jaipur, urbanization, clan capitalism, world population growth rate, and scientific inquiry. These papers were written in the period between 2009-2010. This book is suitable for economists and also physicists who want to know more about economics issues. Hopefully the readers will find some new insights in this collection of papers.
Category: Economics and Finance

[8] viXra:1302.0140 [pdf] replaced on 2013-03-18 23:05:21

Clan Capitalism, Graph Distance, and Other Issues

Authors: Florentin Smarandache, Victor Christianto
Comments: 17 Pages. This book is not yet published.

This book consists of six social and economics papers. It discusses a wide range of topics including graph distance, urbanization and capitalism. This book is suitable for economists and also physicists who want to know more about economics issues.
Category: Economics and Finance

[7] viXra:1302.0140 [pdf] replaced on 2013-03-10 22:15:23

Clan Capitalism, Graph Distance, and Other Issues

Authors: Florentin Smarandache, Victor Christianto
Comments: 96 Pages. This book is not yet published.

This book consists of six social and economics papers. It discusses a wide range of topics including graph distance, urbanization and capitalism. This book is suitable for economists and also physicists who want to know more about economics issues.
Category: Economics and Finance

[6] viXra:1301.0094 [pdf] replaced on 2013-01-16 09:57:01

British Columbia's Carbon Tax: Greenhouse Gas Emission and Economic Trends Since Introduction

Authors: Sierra Rayne, Kaya Forest
Comments: 5 Pages.

In 2008, the Canadian province of British Columbia introduced a carbon tax starting at CAD$10 per tonne of carbon dioxide equivalent (CO2e) and rising by CAD$5/tonne CO2e/year to a 2012-2013 value of CAD$30/tonne CO2e. In the current work, we find no clear evidence over the short post-tax period of record that unequivocally links British Columbia's carbon tax to significant reductions in provincial greenhouse gas emissions. There are indications the implementation of this tax may have negatively impacted British Columbia's economic performance relative to the rest of Canada. A longer post-tax period of record is likely necessary in order to reliably determine what, if any, economic and environmental effects have been generated from British Columbia's carbon tax.
Category: Economics and Finance

[5] viXra:1110.0064 [pdf] replaced on 25 Oct 2011

Crescimento, Economia de Oferta e de Demanda

Authors: Rodolfo Henrique Cerbaro
Comments: 6 pages

Considere riqueza circulando em uma dada localidade geográfica, já que há circulação de bens e serviços. O que pode causar que a circulação deles diminua, estagne ou enfrente crescimento lento nesta localidade? Somente a riqueza não circular na região, isto é, não haver demanda. Então, o que faz com que economia de oferta seja pensada como uma opção viável para muitos e qual seu papel no crescimento de uma economia? Aqui nós discutimos crescimento e contrastamos a lógica da economia de demanda com a escola de pensamento da economia de oferta, através de uma perspectiva baseada na ignição econômica, prosseguindo do nosso trabalho prévio no assunto. Com isto, pretendemos mostrar que tanto economia de oferta quanto de demanda tem um dado, mas específico e não relacionado, papel no crescimento econômico e que o único fator que influencia o crescimento é se a riqueza está circulando na dada localidade geográfica. O presente trabalho se foca na discussão do pós-ignição de uma economia humana.
Category: Economics and Finance

[4] viXra:1008.0002 [pdf] replaced on 2013-05-03 00:33:55

The Emerging Clan Capitalism in the World

Authors: Victor Christianto
Comments: 26 Pages. This paper has not been submitted to any journal, but it has been included in a book with title: Clan Capitalism, Graph Distance, and Other Issues (2013).

In the present article a number of critical economics situations are discussed based on clan capitalism as a starting point. One can see clearly then, that instead of assuming 'ordinary economy’ and that clan/crony capitalism is an exception in particular nation because of certain socio-historical context, one should begin with the opposite assumption instead: that clan capitalism can be found almost everywhere in this planet. One can say that clan capitalism is a norm/rule rather than an exception, because clan capitalism is part of liberal capitalism itself. Apparently, more studies on the extent and role of clan capitalism in a nation's economy and also their role in globalized economy can be expected in the coming years.
Category: Economics and Finance

[3] viXra:1008.0002 [pdf] replaced on 9 Aug 2010

The Emerging Clan Capitalism in the World

Authors: V. Christianto
Comments: 24 Pages.

In the present article a number of critical economics situations are discussed based on clan capitalism as starting point. One can see clearly then, that instead of assuming 'ordinary economy' and clan/crony capitalism is an exception in particular nation because of certain socio-historical context, one should begin with the opposite assumption instead: that can capitalism can be found almost everywhere in this planet.
Category: Economics and Finance

[2] viXra:1004.0017 [pdf] replaced on 19 Apr 2010

Conditional Probability of Actually Detecting a Financial Fraud a Neutrosophic Extension to Benford's Law

Authors: Sukanto Bhattacharya, Kuldeep Kumar, Florentin Smarandache
Comments: 9 pages.

This study actually draws from and builds on an earlier paper (Kumar and Bhattacharya, 2002). Here we have basically added a neutrosophic dimension to the problem of determining the conditional probability that a financial fraud has been actually committed, given that no Type I error occurred while rejecting the null hypothesis H0: The observed first-digit frequencies approximate a Benford distribution; and accepting the alternative hypothesis H1: The observed first-digit frequencies do not approximate a Benford distribution. We have also suggested a conceptual model to implement such a neutrosophic fraud detection system.
Category: Economics and Finance

[1] viXra:0912.0042 [pdf] replaced on 20 Dec 2009

Wealth Creation and Science Research :Science Research, the Root of Wealth in Our Knowledge Society, is Endangered

Authors: Elemér E Rosinger
Comments: 13 pages.

Two vastly different historical stages in wealth creation are the traditional one based on agriculture during past millennia, and the one based on science research in our present globalizing knowledge society. The differences happen to be so considerable, and the emergence of the second stage relatively so recent, that the awareness of the full range of consequences regarding the proper pursuit of science research, which is the root of wealth in our knowledge society, is missing to an extent that may, even in the medium term, seriously endanger the sustainability of modern human society.
Category: Economics and Finance