Economics and Finance

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Recent submissions

Any replacements are listed farther down

[281] viXra:1912.0019 [pdf] submitted on 2019-12-02 01:20:45

Agriculture 4.0

Authors: Diego Liberati
Comments: 3 Pages.

principles and actions mutuated from Industry 4.0 are trensposed and implemented to agriculture
Category: Economics and Finance

[280] viXra:1911.0506 [pdf] submitted on 2019-11-29 10:10:55

Problem of the Origin of Profit

Authors: James Smith
Comments: 34 Pages. Enjoy

I think I have proved that in an economy with fixed amount of money, no monetary profit is sustainable. The aggregate prices will always be above the public purchasing ability, therefore we have a mathematical problem. The notion that banks create new money is incorrect, that's why the government has to create new money and periodically inject it into circulation. Circulation with fixed amount of money would be inefficient and won't allow effective consumption of all the products produced.
Category: Economics and Finance

[279] viXra:1911.0460 [pdf] submitted on 2019-11-26 23:04:40

An Empirical Analysis of the Factors Affecting the Total Retail Sales of Consumer Goods in China

Authors: Zihao Tong, Yuhong Fu
Comments: 14 Pages.

This paper mainly uses Eviews software to illustrate an empirical analysis and selects Value-added tax, Government spending, Retail Price Index, and Total wages to analyze the Total Retail Sales of Consumer Goods and explain its economic significance.
Category: Economics and Finance

[278] viXra:1911.0401 [pdf] submitted on 2019-11-23 13:01:17

Money To Capital?

Authors: Stephen I. Ternyik
Comments: 2 Pages.

Conference contribbution; Worcester Polytechnic Institute 2020
Category: Economics and Finance

[277] viXra:1911.0329 [pdf] submitted on 2019-11-19 05:54:24

Impact of Higher Capital Adequacy Requirements for Banks: Evidence from BRICS

Authors: Noor Ulain Rizvi
Comments: 2 Pages.

The global financial crisis (GFC) of 2008 imposed huge costs on the economies which are unwinding to date. After the collapse of Lehman Brothers, the regulators were confronted with difficult questions, which led to the G-20 leaders to agree on a comprehensive set of prudential norms to increase the resilience of the banking systems. The central component of these reforms is raising capital requirements. Theoretically, the benefits of higher capital adequacy requirements are manifolds; it helps in building a strengthened and more resilient financial system which can reduce the frequency of financial crisis and the related cost of such crisis. Given the historical frequency of crises in BRICS, one may think that the benefits would be limited. However, the growing importance of BRICS on the global platform, along with the growing interconnectedness among economies, the exposure to potential shocks will only increase. Thus, it is in the interest of all the five economies to implement the new regulatory norms to build a more resilient financial system. The literature mostly considers the costs and benefits of the higher capital adequacy norms for the developed economies like the United States, the United Kingdom, and other OECD countries. However, it is equally crucial for BRICS economies to weigh the benefits of these norms on the economy against the potential costs. This study fills the gap in the literature by estimating the impact of higher capital adequacy requirements for each of the BRICS economies, standalone. The conceptual framework of estimating the costs and benefits for each of the BRICS economies is closely aligned with the Long Term Economic Impact (LEI) study by the Basel Committee on Banking Supervision (BCBS). The impact is estimated as the amount (in per cent) of GDP saved by increasing the capital requirements. The findings are then validated by a structured questionnaire, 2 administered on the banking experts who have been closely involved in the process of Basel implementation at their banks. This research delves deeper into the impact of higher capital adequacy requirement on the credit risk (risk in the loan portfolio of banks), which has been termed as the prime contributor to the systemic banking crisis in the past episodes of crises. A further disaggregation on the basis of ownership and accounting for the GFC is also done. The main findings of this study indicate that the net benefits of higher capital adequacy requirements outweigh the costs for all the BRICS economies; however, the benefits for Brazil and Russia are substantially higher. Also, a strong monetary policy of an economy can play a role in controlling the costs of higher capital for the economy. The survey results also establish that higher capital norms will increase the stability and resilience of the banking sector. The survey also gauges the opinion of experts on the indirect impact of these norms, along with the critical success factors in the process of implementation. Finally, the results of the empirical analysis establish a positive relationship between capital norms and credit risk. The study has important implications for academia and policymakers. While it enriches the existing body of knowledge with new findings and evidence for the academia, for the policymakers, it suggests that a more conservative approach results in a lower probability of a crisis. It is also suggested that there is enough room to increase the capital requirements above the regulatory ratios as the net impact will still be positive. To the best of the author’s knowledge, the study has made a novel attempt to assess the impact of each of the BRICS economies separately along with collecting the invaluable insights from the banking experts about the implementation process.
Category: Economics and Finance

[276] viXra:1911.0265 [pdf] submitted on 2019-11-15 12:09:07

Kalecki's Paradoxical Odyssey

Authors: Stephen Ternyik
Comments: 10 Pages.

Non-orthodox economic approach.
Category: Economics and Finance

[275] viXra:1911.0120 [pdf] submitted on 2019-11-07 08:24:33

The Absolute Smallest Possible Money Unit! When Money Crashes into the Laws of Physics

Authors: Espen Gaarder Haug
Comments: 4 Pages.

In this paper, we demonstrate that there is an absolute physical limit on how small the smallest money unit can be, no matter how much we are able to improve our technology. The smallest money unit seems to be directly linked to the smallest possible energy unit needed to store one bit. If the smallest money unit is smaller than the cost of energy of storing one bit then there seems to be an arbitrage, which will also constrain money producers such as central banks from issuing money with a smaller denomination than this minimum money unit. Keywords: Money units, money creation, arbitrage, information theory, Launder limit, the Planck constant.
Category: Economics and Finance

[274] viXra:1910.0231 [pdf] submitted on 2019-10-14 05:06:20

Relativistic Invariant Banking

Authors: Miroslaw Kozlowski
Comments: 5 Pages. We consider application of special relativity theory to banking processes

World market is very unstable . In this Essay we show why. For the growing stream of liquid money on the market , the velocity of financial processes is going to the limit value , invariant stream velocity. Which is the maximal velocity for physical processes in the market. When v= vin market is unstable and uncontrolled. It is ready to critical behavior with negative trends, i.e abrupt decreasing Price, smaller then established values
Category: Economics and Finance

[273] viXra:1909.0306 [pdf] submitted on 2019-09-14 11:00:47

The Valuation of Financial Derivatives Subject to Counterparty Risk and Credit Value Adjustment

Authors: Xiao, Tim
Comments: 40 Pages.

This article presents a generic model for pricing financial derivatives subject to counterparty credit risk. Both unilateral and bilateral types of credit risks are considered. Our study shows that credit risk should be modeled as American style options in most cases, which require a backward induction valuation. To correct a common mistake in the literature, we emphasize that the market value of a defaultable derivative is actually a risky value rather than a risk-free value. Credit value adjustment (CVA) is also elaborated. A practical framework is developed for pricing defaultable derivatives and calculating their CVAs at a portfolio level.
Category: Economics and Finance

[272] viXra:1909.0302 [pdf] submitted on 2019-09-14 22:57:06

1 期間2項モデルを活用した失業保険の価格決定

Authors: Hiroki Tahara
Comments: 3 Pages. Japanese Only

I determined general fee of employment insurance. I used one-term binomial models in order to determine general fee of employment insurance.
Category: Economics and Finance

[271] viXra:1909.0296 [pdf] submitted on 2019-09-15 05:01:27

On the Estimation of the Economic Value of a Dash Proposal

Authors: Pablo Menéndez-Ponte Alonso
Comments: 16 Pages.

This paper is concerned with the derivation of a consistent formal method to allow for estimating the economic value of a Dash proposal. Standing on the Currency Fair Value[1] theory as rational financial pricing model of a currency, the paper will arrive at a straightforward and objective calculation tool, in the form of several simple equations. These will allow Masternode owners and individuals who submit proposals to the Dash treasury to estimate the expected value return of the economic proposals and thus, enable them to make more rational decisions. Development of this new model will require differential analysis of the fair value equation, as a basis for the analytical expressions expected by the main target audience. This analysis goes beyond the scope of Dash and many other currency research efforts may also drawn upon it. Keywords: Dash·Proposal·Quantitative Finance·Asset Pricing·Currency Fair Value·Investing
Category: Economics and Finance

[270] viXra:1909.0152 [pdf] submitted on 2019-09-07 14:18:19

The Valuation of Credit Default Swap with Counterparty Risk and Collateralization

Authors: Xiao, Tim
Comments: 26 Pages.

This article presents a new model for valuing a credit default swap (CDS) contract that is affected by multiple credit risks of the buyer, seller and reference entity. We show that default dependency has a significant impact on asset pricing. In fact, correlated default risk is one of the most pervasive threats in financial markets. We also show that a fully collateralized CDS is not equivalent to a risk-free one. In other words, full collateralization cannot eliminate counterparty risk completely in the CDS market.
Category: Economics and Finance

[269] viXra:1909.0132 [pdf] submitted on 2019-09-06 18:15:03

Freemium Model of Technology and Services.

Authors: Bheemaiah, Anil Kumar.
Comments: 6 Pages.

Abstract This paper describes a common business model in the software industry, the dual licensing model which we extend to the freemium and two-world model. This model is extended to the 3DP economy, housing, clothing, food and technology. The model combines the dual source licensing of resilient lego homes, MRE food and all weather clothing and designs. Several case studies are described, such as MRE food and the design of 3D printers to propagate 3DP. The freemium model is proven to increase product diffusion, overall sales and is a better promotional mechanism compared to internet and media advertising. Keywords: Freemium, Two-World, Dual- Licensing, 3DP, Case Studies.
Category: Economics and Finance

[268] viXra:1909.0129 [pdf] submitted on 2019-09-06 23:09:07

Refutation of the Innovation Contest in Two Sequential Stages

Authors: Colin James III
Comments: 1 Page. Copyright 2019 by Colin James III All rights reserved. Respond to author by email only: info@cec-services dot com. See updated abstract at ersatz-systems.com.

We evaluated the definition of the conjectured model for the innovation contest in two sequential stages as not tautologous, forming a non tautologous fragment of the universal logic VŁ4.
Category: Economics and Finance

[267] viXra:1909.0128 [pdf] submitted on 2019-09-06 23:12:01

Denial of a Conjectured Experimental Model for Search Fund Study

Authors: Colin James III
Comments: 2 Pages. Copyright 2019 by Colin James III All rights reserved. Respond to author by email only: info@cec-services dot com. See updated abstract at ersatz-systems.com.

We evaluate the diagram of the search cycle for percentage of funds in each phase and returns for terminal funds. It is not tautologous, hence denying the conjectured model of the experiment. This forms a non tautologous fragment of the universal logic VŁ4.
Category: Economics and Finance

[266] viXra:1909.0020 [pdf] submitted on 2019-09-01 18:22:18

The Valuation of Interest Rate Swap with Bilateral Counterparty Risk

Authors: Xiao, Tim
Comments: 13 Pages.

This paper presents an analytical model for valuing interest rate swaps, subject to bilateral counterparty credit risk. The counterparty defaults are modeled by the reduced-form model as the first jump of a time-inhomogeneous Poisson process. All quantities modeled are market-observable. The closed-form solution gives us a better understanding of the impact of the credit asymmetry on swap value, credit value adjustment, swap rate and swap spread.
Category: Economics and Finance

[265] viXra:1908.0565 [pdf] submitted on 2019-08-27 07:50:28

Health Insurance Funds that Manage Money Without Saving it

Authors: Dimiter Dobrev
Comments: 8 Pages. Bulgarian language

There is no need for the health insurance fund to collect health contributions and then to pay for the activities carried out with that money. It is better if the National health insurance fund collects the money and keeps it and the health fund only manages it without actually passing the money through it. This eliminates the risk of bankruptcy of the fund and the need to create a guarantee fund. So changing the fund will be very easy, because no real money will be moved, but only the subject that manages it will change.
Category: Economics and Finance

[264] viXra:1908.0526 [pdf] submitted on 2019-08-27 04:43:42

Contamination of Farms by Genetically Modified Organisms (GMOs): Options for Compensation

Authors: John Paull
Comments: 16 Pages.

There is no satisfactory legal remedy for farmers in Australia whose farm has been contaminated by genetically modified (GM) material. This is a deficiency of Australia’s Gene Technology Act 2000 and it has not been remedied. In the Marsh v Baxter case (2010-2016) an organic farm in Western Australia (WA) was contaminated with GM canola from a neighbouring farm. The organic farm lost its certification (along with the price premium for organic produce). The organic farmer (Marsh) sued the GM farmer (Baxter) for the agreed damages of A$85,000. The case was lost in the WA Supreme Court, then in the Court of Appeal, and finally it was rejected by the High Court of Australia. The legal fees were in the order of A$2,000,000, which is quite disproportionate to the agreed loss. A Parliamentary Inquiry (2017-2019) in WA examined “Mechanisms for compensation for economic loss to farmers in Western Australia caused by contamination by genetically modified material”. There were 121 submissions to the Inquiry and 22 public hearings. Seven ‘mechanisms’ were considered: (i) Do nothing; (ii) a GM Levy; (iii) a GM Technology Licence Bond; (iv) Non-GM farmer Insurance; (v) GM farmer Insurance; (vi) a Compulsory Third Party (CTP) GM Scheme; and, (vii) the Government pays. After its deliberations, the Standing Committee on Environment and Public Affairs did not recommend any change from the present unsatisfactory state of affairs where reliance on the common law offers no effective protection for non-GM farmers against contamination by genetically modified organisms (GMOs) (as witnessed in the Marsh v Baxter case). The ‘Do nothing’ option, which was supported by Monsanto and pro-GM farmer groups, prevailed. This paper explores the context and content of the Parliamentary Inquiry, presents the six proposed proactive options for compensation (of which only four appeared in the Inquiry Report), and the twelve findings of the Inquiry. Ultimately the Committee was timid where it might have been bold. The Inquiry was a lost opportunity for righting a known wrong. The Inquiry outcome will ensure that GM-farming remains a very contentious issue in WA and continues to lack any semblance of a social licence. However, the WA Parliamentary Inquiry (in toto, viz. the submissions, the hearings, and the Report) provides a rich trove of views and material for legislators and regulators in other jurisdictions who face the exact same issue of GM contaminations.
Category: Economics and Finance

[263] viXra:1908.0499 [pdf] submitted on 2019-08-24 08:32:12

Bilateral Defaultable Financial Derivatives Pricing and Credit Valuation Adjustment

Authors: Xiao, Tim
Comments: 19 Pages.

The one-side defaultable financial derivatives valuation problems have been studied extensively, but the valuation of bilateral derivatives with asymmetric credit qualities is still lacking convincing mechanism. This paper presents an analytical model for valuing derivatives subject to default by both counterparties. The default-free interest rates are modeled by the Market Models, while the default time is modeled by the reduced-form model as the first jump of a time-inhomogeneous Poisson process. All quantities modeled are market-observable. The closed-form solution gives us a better understanding of the impact of the credit asymmetry on swap value, credit value adjustment, swap rate and swap spread.
Category: Economics and Finance

[262] viXra:1908.0331 [pdf] submitted on 2019-08-15 19:02:29

Pricing Financial Derivatives Subject to Multilateral Credit Risk and Collateralization

Authors: Xiao, Tim
Comments: 26 Pages.

This article presents a new model for valuing financial contracts subject to credit risk and collateralization. Examples include the valuation of a credit default swap (CDS) contract that is affected by the trilateral credit risk of the buyer, seller and reference entity. We show that default dependency has a significant impact on asset pricing. In fact, correlated default risk is one of the most pervasive threats in financial markets. We also show that a fully collateralized CDS is not equivalent to a risk-free one. In other words, full collateralization cannot eliminate counterparty risk completely in the CDS market.
Category: Economics and Finance

[261] viXra:1908.0201 [pdf] submitted on 2019-08-10 08:13:31

Incremental Risk Charge Methodology

Authors: Xiao, Tim
Comments: 18 Pages.

The incremental risk charge (IRC) is a new regulatory requirement from the Basel Committee in response to the recent financial crisis. Notably few models for IRC have been developed in the literature. This paper proposes a methodology consisting of two Monte Carlo simulations. The first Monte Carlo simulation simulates default, migration, and concentration in an integrated way. Combining with full re-valuation, the loss distribution at the first liquidity horizon for a subportfolio can be generated. The second Monte Carlo simulation is the random draws based on the constant level of risk assumption. It convolutes the copies of the single loss distribution to produce one year loss distribution. The aggregation of different subportfolios with different liquidity horizons is addressed. Moreover, the methodology for equity is also included, even though it is optional in IRC.
Category: Economics and Finance

[260] viXra:1907.0406 [pdf] submitted on 2019-07-21 08:30:28

The Impact of Default Dependency and Collateralization on Asset Pricing and Credit Risk Modeling

Authors: Tim Xiao
Comments: 39 Pages.

This article presents a comprehensive framework for valuing financial instruments subject to credit risk. In particular, we focus on the impact of default dependence on asset pricing, as correlated default risk is one of the most pervasive threats in financial markets. We analyze how swap rates are affected by bilateral counterparty credit risk, and how CDS spreads depend on the trilateral credit risk of the buyer, seller, and reference entity in a contract. Moreover, we study the effect of collateralization on valuation, since the majority of OTC derivatives are collateralized. The model shows that a fully collateralized swap is risk-free, whereas a fully collateralized CDS is not equivalent to a risk-free one.
Category: Economics and Finance

[259] viXra:1907.0368 [pdf] submitted on 2019-07-20 04:41:17

The Present and the Future of the World Economy

Authors: Ilyas Oskembekov
Comments: 16 Pages.

This work is a continuation of the conversation about the qualitative heterogeneity of money, but already in the scale of the world economy. The features of this phenomenon, its sources of existence and the negative impact on the state of the world economy are considered on the model of the world economic system. The possibility of creating a new efficient world economic system with a qualitatively homogeneous money supply is shown.
Category: Economics and Finance

[258] viXra:1907.0316 [pdf] submitted on 2019-07-16 16:49:57

Avaliação de Perdas Nos Sistemas Públicos de Abastecimento de água no Estado de Sergipe

Authors: Marcos Luciano Alves Barroso
Comments: 11 Pages.

In recent years, little attention has been paid to investments in maintenance and modernization of the management of public water supply systems in many Brazilian cities. In the State of Sergipe, this fact has resulted in a series of inefficiencies in the supply, among which, the high loss of water, physical and financial for the state concessionaire in several cities stands out. Thus this work seeks to identify a picture of the conditions of water loss management in the public supply systems in the six largest municipalities of the State of Sergipe. The fact is therefore that the concessionaire indicates that the lack of technology that ensures better monitoring of public water supply systems in cities that also do not have modern equipment for the actual measurement of water distributed and consumed. Thus, the work was constructed accounting for information and indicators from the National Sanitation Information System (SNIS) that reveal the situation of cities in Sergipe from 2008 to 2017. They revealed that incentives for more efficient maintenance are limited and, in general, water is treated as a free good, stimulating non-payment and uncontrolled use of it. This situation creates many problems for the maintenance of the concessionaire and service providers, such as the production of water, which in most cases is much higher than necessary, amplifying production costs and providing a significant loss of water production in the physical loss. This represents cost incurred, part of the water is not charged, resulting in losses of billing, that is, the consumer consumes, but does not pay, resulting in costs of production and distribution without inferring revenue.
Category: Economics and Finance

[257] viXra:1907.0068 [pdf] submitted on 2019-07-04 17:33:48

An Economic Examination of Collateralization in Different Financial Markets

Authors: Tim Xiao
Comments: 40 Pages.

ABSTRACT This paper attempts to assess the economic significance and implications of collateralization in different financial markets, which is essentially a matter of theoretical justification and empirical verification. We present a comprehensive theoretical framework that allows for collateralization adhering to bankruptcy laws. As such, the model can back out differences in asset prices due to collateralized counterparty risk. This framework is very useful for pricing outstanding defaultable financial contracts. By using a unique data set, we are able to achieve a clean decomposition of prices into their credit risk factors. We find empirical evidence that counterparty risk is not overly important in credit-related spreads. Only the joint effects of collateralization and credit risk can sufficiently explain unsecured credit costs. This finding suggests that failure to properly account for collateralization may result in significant mispricing of financial contracts. We also analyze the difference between cleared and OTC markets.
Category: Economics and Finance

[256] viXra:1906.0571 [pdf] submitted on 2019-06-30 16:51:25

Is the Jump-Diffusion Model a Good Solution for Credit Risk Modeling? The Case of Convertible Bonds

Authors: Tim Xiao
Comments: 36 Pages. International Journal of Financial Markets and Derivatives, 4(1) 1-25, 2015

This paper argues that the reduced-form jump diffusion model may not be appropriate for credit risk modeling. To correctly value hybrid defaultable financial instruments, e.g., convertible bonds, we present a new framework that relies on the probability distribution of a default jump rather than the default jump itself, as the default jump is usually inaccessible. As such, the model can back out the market prices of convertible bonds. A prevailing belief in the market is that convertible arbitrage is mainly due to convertible underpricing. Empirically, however, we do not find evidence supporting the underpricing hypothesis. Instead, we find that convertibles have relatively large positive gammas. As a typical convertible arbitrage strategy employs delta-neutral hedging, a large positive gamma can make the portfolio highly profitable, especially for a large movement in the underlying stock price.
Category: Economics and Finance

[255] viXra:1906.0481 [pdf] submitted on 2019-06-25 17:04:37

An Efficient Lattice Algorithm for the Libor Market Model

Authors: Tim Xiao
Comments: 32 Pages. Journal of Derivatives, 19 (1), 25-40, 2011

The LIBOR Market Model has become one of the most popular models for pricing interest rate products. It is commonly believed that Monte-Carlo simulation is the only viable method available for the LIBOR Market Model. In this article, however, we propose a lattice approach to price interest rate products within the LIBOR Market Model by introducing a shifted forward measure and several novel fast drift approximation methods. This model should achieve the best performance without losing much accuracy. Moreover, the calibration is almost automatic and it is simple and easy to implement. Adding this model to the valuation toolkit is actually quite useful; especially for risk management or in the case there is a need for a quick turnaround.
Category: Economics and Finance

[254] viXra:1906.0338 [pdf] submitted on 2019-06-18 18:12:46

A Simple and Precise Method for Pricing Convertible Bond with Credit Risk

Authors: Tim Xiao
Comments: 30 Pages.

This paper presents a new model for valuing hybrid defaultable financial instruments, such as, convertible bonds. In contrast to previous studies, the model relies on the probability distribution of a default jump rather than the default jump itself, as the default jump is usually inaccessible. As such, the model can back out the market prices of convertible bonds. A prevailing belief in the market is that convertible arbitrage is mainly due to convertible underpricing. Empirically, however, we do not find evidence supporting the underpricing hypothesis. Instead, we find that convertibles have relatively large positive gammas. As a typical convertible arbitrage strategy employs delta-neutral hedging, a large positive gamma can make the portfolio highly profitable, especially for a large movement in the underlying stock price.
Category: Economics and Finance

[253] viXra:1906.0188 [pdf] submitted on 2019-06-11 18:20:16

An Accurate Solution for Credit Valuation Adjustment (CVA) and Wrong Way Risk

Authors: Tim Xiao
Comments: 25 Pages. Journal of Fixed Income, 25 (1) 84-95, 2015

This paper presents a Least Square Monte Carlo approach for accurately calculating credit value adjustment (CVA). In contrast to previous studies, the model relies on the probability distribution of a default time/jump rather than the default time itself, as the default time is usually inaccessible. As such, the model can achieve a high order of accuracy with a relatively easy implementation. We find that the valuation of a defaultable derivative is normally determined via backward induction when their payoffs could be positive or negative. Moreover, the model can naturally capture wrong or right way risk.
Category: Economics and Finance

[252] viXra:1906.0157 [pdf] submitted on 2019-06-09 11:19:44

A New Model for Pricing Collateralized OTC Derivatives

Authors: Tim Xiao
Comments: 26 Pages. Journal of Derivatives

This paper presents a new model for pricing OTC derivatives subject to collateralization. It allows for collateral posting adhering to bankruptcy laws. As such, the model can back out the market price of a collateralized contract. This framework is very useful for valuing outstanding derivatives. Using a unique dataset, we find empirical evidence that credit risk alone is not overly important in determining credit-related spreads. Only accounting for both collateral arrangement and credit risk can sufficiently explain unsecured credit costs. This finding suggests that failure to properly account for collateralization may result in significant mispricing of derivatives. We also empirically gauge the impact of collateral agreements on risk measurements. Our findings indicate that there are important interactions between market and credit risk.
Category: Economics and Finance

[251] viXra:1905.0069 [pdf] submitted on 2019-05-04 17:47:36

Process Delay Sedimentation – Aspects of Business Transactions Analogous to Physical Conservation Laws.

Authors: Tariq Khan
Comments: 2 Pages.

Sedimentation: noun, the process of settling or being deposited as a sediment. "Sedimentation occurs when the droplets sink to the bottom." Newton's Law of Universal Gravitation: … the force is proportional to the product of the two masses, and inversely proportional to the square of the distance between them.
Category: Economics and Finance

[250] viXra:1905.0059 [pdf] submitted on 2019-05-05 02:41:16

Of Recognizing the Trefoil Knots in a Price Chart of a Security in the Financial Markets

Authors: Han Do
Comments: 9 Pages. The article has send to U.S. Copyright Office

The Trefoil knots in a price chart of a security of financial markets are recognized. The paper also shows how to use the knots to be timing the financial markets.
Category: Economics and Finance

[249] viXra:1904.0124 [pdf] submitted on 2019-04-06 20:47:50

Quantum Theory of the Development of Science, Economic and Society.

Authors: Bezverkhniy Volodymyr Dmytrovych, Bezverkhniy Vitaliy Volodymyrovich.
Comments: 41 Pages.

This paper discusses the wave description in biology, chemistry and economics. Using quantum mechanics to study social processes, it was shown that the economic waves of N. Kondratiev are theoretically derived from the quantum theory of the development of science and society. The use of Heisenberg’s uncertainty principle for social phenomena shows that the development of society is conceptually probabilistic in nature and cannot be strictly predicted in principle (given the mathematical formula). The rejection of the “time arrow” at the quantum level leads to the conclusion that “time in our world” is a definite “averaging and transformation” of periodic quantum processes at the fundamental level. It also shows the impossibility of achieving technological singularity and the creation of artificial intelligence like human.
Category: Economics and Finance

[248] viXra:1904.0068 [pdf] submitted on 2019-04-03 10:41:49

Smart Transactions

Authors: Egger Mielberg
Comments: 13 Pages.

. Fully realized ACCP-based (Atomicity, Consistency, Concurrency, Permanency) online transactions would allow, first, to connect and manage all associative input transactions to a single output transaction, second, to eliminate any third party that is not a participant of transaction contract, third, to fully automate an execution of multi-steps contracts with a possibility to track them on every step, fourth, to promptly identify and extract any transaction data, and fifth, to dynamically scale a transaction network proportionally to the amount of its active participants. We propose a mechanism that allow every single participant of the transaction network to dynamically manage any transaction on his or her own economic way.
Category: Economics and Finance

[247] viXra:1904.0066 [pdf] submitted on 2019-04-03 10:57:17

Sphere - A Decentralized Economy-Based Electronic Currency

Authors: Egger Mielberg
Comments: 15 Pages.

. A decentralization of electronic currency would allow business activity and development of a single network to be independent of other different business networks. Cost of a decentralized currency of the network can become stable as long as participants of that network are still active. We propose a solution for such a big problem of traditional economy as a “direct dependency of local prices on global ones”. We also propose an innovative mechanism that allows participants of NCN to get any service of one business network for money (hours) earned in other network (‘s). The currency is implemented by usage of two innovative technologies, “Proof of Participation protocol” (PoP) [3] and “Smart Transactions” [2].
Category: Economics and Finance

[246] viXra:1904.0065 [pdf] submitted on 2019-04-03 11:00:13

Sphere Currency

Authors: Egger Mielberg
Comments: 7 Pages.

Decentralized nature of Sphere electronic currency introduces several new properties that the traditional one does not have. Here, we shortly review all functions and properties of real (fiat) money and propose new features that belong to Sphere.
Category: Economics and Finance

[245] viXra:1904.0062 [pdf] submitted on 2019-04-03 11:05:31

Digital Bank

Authors: Egger Mielberg
Comments: 17 Pages.

Decentralization of BANK services would allow its users, first, to primarily earn money, second, to extremely reduce document routines, third, to make their activity more transparent and secure. We propose a new concept of BANK, a digital BANK that never can be a bankrupt and has professional skills and degree of activity of its customers as a main capital.
Category: Economics and Finance

[244] viXra:1902.0433 [pdf] submitted on 2019-02-25 21:37:12

2019 Therthal Arikkai

Authors: Acharya sennimalai Kalimuthu
Comments: 02 Pages. NA

Idhu 2019 aam Aandu Therthal Arikkai
Category: Economics and Finance

[243] viXra:1902.0407 [pdf] submitted on 2019-02-25 01:31:23

2019 Indian Parliament Election Manifesto

Authors: Acharya Sennimalai Kalimuthu[ Anantha Anantha ]
Comments: 01 Pages. NA

This is the Covering Letter for the article which has been previously submitted.
Category: Economics and Finance

[242] viXra:1902.0404 [pdf] submitted on 2019-02-25 05:12:29

2019 Indian Parliamanet Election Manifesto

Authors: Acharya Sennimalai Kalimuthu[ Anantha Anantha ]
Comments: 05 Pages. NA

This is an election manifesto 2019 to Indian parliament.
Category: Economics and Finance

[241] viXra:1902.0297 [pdf] submitted on 2019-02-17 13:16:53

Money Whirling Theory

Authors: Chuanli Chen
Comments: 9 Pages.

This is the overview of the whole theory
Category: Economics and Finance

[240] viXra:1901.0238 [pdf] submitted on 2019-01-17 04:50:58

Test Case to Test Mailing

Authors: Https://www.kpn.com
Comments: 1 Page. test for mail delivery

test
Category: Economics and Finance

[239] viXra:1812.0407 [pdf] submitted on 2018-12-23 06:25:17

Foundations of Quantal Economy and Banking.

Authors: Johan Noldus
Comments: 32 Pages. Preliminary and incomplete version.

An abstract banking theory is set up.
Category: Economics and Finance

[238] viXra:1812.0034 [pdf] submitted on 2018-12-02 14:47:21

Science Research and Patenting of Innovations

Authors: Alexander Bolonkin
Comments: 11 Pages.

At the present time the USA’s Federal Government spends big tax monies for Scientific Research and Development (R&D). How to best organize this vast governmental activity, how to best estimate its ultimate utility and profitability (real and potential), how to best increase efficiency of innovation and production, how to best estimate the worth of new discoveries and innovations, how to properly fund R&D of new concepts and innovations, and how to correctly estimate their results, how to improve a patenting all these macro-problems are important for successful planning of scientific research, new systems—these are all complex and pressing questions that require answers if further industrial progress and scientific improvements are ever to be! The authors consider these some major-system problems and offer many remarkable innovations in organization, estimation, suggestions for entirely new research efficiency criteria, development, new methods for assessments of new ideas, innovations in science and industry, and new methods in patenting technology. The author A.A. Bolonkin worked for many years within the USA’s Federal Government entities (scientific laboratories of NASA, Air Force), and USSR and USA universities and industry. -------------------------------------------------- Keywords: Organizing scientific research, planning of research, funding research, funding new ideas (concepts), funding inventions and innovations, estimating research cost, assessment of research results, research efficiency criteria, innovation in organizing of scientific R&D, patenting.
Category: Economics and Finance

[237] viXra:1811.0400 [pdf] submitted on 2018-11-25 12:37:45

The Bonus-Malus System Based on the Vehicle

Authors: Dimiter Dobrev
Comments: 13 Pages. Bulgarian language

Bulgaria is currently considering introducing a bonus-malus system. This system will be different from that introduced in other countries because it will not be based on the driver but on the vehicle. The proposal that is currently under discussion is definitely flawed for a number of reasons. Here we will offer a much simpler system that is fair and difficult to circumvent.
Category: Economics and Finance

[236] viXra:1811.0385 [pdf] submitted on 2018-11-25 04:59:22

Description of a Methodology from Econophysics as a Verification Technique for a Financial Strategy

Authors: Andrea Berdondini
Comments: 5 Pages.

ABSTRACT. In this article, I would like to draw attention to a method inspired by the analysis of stochastic models typical of quantum physics, and to utilise it to test a financial strategy. We start from the principal question asked by anyone involved in financial investments: Are the results obtained due to a correct interpretation of the market, or are they merely fortuitous? This is a plain question and it can be given an equally clear answer. The results obtained are due to a correct interpretation of the market if the probability of obtaining equal or better results randomly is very small (i.e. tends to zero as the number of times the strategy is used increases).
Category: Economics and Finance

[235] viXra:1810.0261 [pdf] submitted on 2018-10-16 09:15:25

The Hidden Physics of Human Progress and Poverty

Authors: Stephen I. Ternyik
Comments: 1 Page.

The hidden physics of human progress and poverty is explained.
Category: Economics and Finance

[234] viXra:1810.0222 [pdf] submitted on 2018-10-15 03:35:19

Economic Systems Behavior

Authors: Stephen I Ternyik
Comments: 3 Pages.

Analogy table of the economy, thermodynamics and portfolio.
Category: Economics and Finance

[233] viXra:1810.0212 [pdf] submitted on 2018-10-13 23:39:22

Refutation of the Supply and Demand Conjecture

Authors: Colin James III
Comments: 1 Page. © Copyright 2018 by Colin James III All rights reserved. Respond to the author by email at: info@ersatz-systems dot com.

The supply and demand conjecture takes on two states of affairs, depending on assignment of the relation for price,quantify and the relation for supply, demand as antecedent or consequent. The relations are greater than, lesser than, or equivalent. None of the assertions is tautologous, hence refuting the supply and demand conjecture.
Category: Economics and Finance

[232] viXra:1809.0103 [pdf] submitted on 2018-09-06 02:12:45

Wireless Internet Security and How to Solve Collective Action Problem (Or the Social Innovation Way to Solve Collective Action Problem)

Authors: Victor Christianto, Florentin Smarandache
Comments: 8 Pages. This paper has been submitted to a book chapter. Comments are welcome

In this paper, we tried to draw a fair assessment on things which will take place soon with the coming era of IoT, 5G technology, global eavesdropping and all that. Nonetheless, we are aware that this article sounds quite gloomy. We are not techno-utopians (read Evgeny Morozov’s WSJ article on digital dictatorship1), but we are not techno-pessimists either. Perhaps you can consider us as: "techno-realists."2 This paper was written in the same spirit of Jonathan L. Zittrain’s book The Future of Internet and how to stop it.
Category: Economics and Finance

[231] viXra:1808.0551 [pdf] submitted on 2018-08-24 23:23:12

Deriving the Laffer Curve using the Concept of the Excess Burden of Taxation

Authors: Tim Walshaw
Comments: 20 Pages.

The Laffer Curve formula is derived from the concept of Excess Burden using a single parameter obtained from the theoretical relationship between the average Excess Burden ratio and the square of the average Tax Ratio. This is followed by a demonstration, using a chosen figure of excess burden, showing how to estimate the values of a Laffer Curve.
Category: Economics and Finance

[230] viXra:1808.0091 [pdf] submitted on 2018-08-07 14:30:45

Review of Studies on Urban Post Earthquake Fires

Authors: Emily Jones
Comments: 10 Pages.

Earthquake secondary fire is the most likely to occur, the most devastating earthquake secondary disaster. After analyzing the characteristics of the secondary fires after fire, spreading and post-earthquake fire fighting, three key topics of research on secondary fires in earthquake are put forward: fire after fire, spread of fire and fire suppression after earthquakes. In response to these three topics, a comprehensive introduction and in-depth comments on the relevant research at home and abroad. Through the comments, the shortcomings, difficulties, key points and train of thought in the research of secondary fire in earthquake are put forward for further research.
Category: Economics and Finance

[229] viXra:1808.0086 [pdf] submitted on 2018-08-07 19:10:38

Rocket Fuel, Fertilizer, and Fracking

Authors: Salvatore Gerard Micheal
Comments: 3 Pages.

sustainable vs unsustainable concepts are addressed
Category: Economics and Finance

[228] viXra:1808.0060 [pdf] submitted on 2018-08-05 23:58:39

America Needs to Support Wales

Authors: Salvatore Gerard Micheal
Comments: 1 Page.

ebay sells many Chinese products; the premier shipper for Chinese products on ebay is Speedpak Limited owned by Speedpak Group founded by Northside Partnership funded by the Irish government
Category: Economics and Finance

[227] viXra:1808.0056 [pdf] submitted on 2018-08-04 07:58:08

American Sovereignty in Customer Service and Quality

Authors: Salvatore Gerard Micheal
Comments: 2 Pages.

the most important article I have EVER written for Americans about America
Category: Economics and Finance

[226] viXra:1807.0332 [pdf] submitted on 2018-07-20 05:58:48

Prospects for Digital Audio Broadcasting in South Africa

Authors: Bronwyn E Howell, Petrus H Potgieter
Comments: 6 Pages.

The authors submitted a comment to the Independent Communications Authority of South Africa (ICASA) in response to the call for comment in the Discussion Document on Digital Sound Broadcasting (DSB) that appeared in South Africa’s Government Gazette No. 41534 of 29 March 2018. Consequently, the second author made an oral submission at the public hearings on this issue at the ICASA premises in Sandton on 13 July 2018. In this document, we elaborate on the thinking in our submission in response to a request in this regard from Advocate Dimakatso Qocha, the Councillor who chaired the hearing. We still intend address ourselves only to Question 1 of the Discussion Document. Is there a need for the introduction of DSB technologies in South Africa? We are convinced that there is no compelling argument for the introduction of the technology in the way apparently requested by many in the industry. We do not however oppose the liberalisation of signal distribution or a technology (and content) neutral approach to spectrum management and tradeable broadcasting and spectrum rights. If these were introduced, broadcasters would be able to decide on a purely commercial basis when and if to introduce digital broadcasts and new entry to the market would be possible through the purchase of appropriate rights.
Category: Economics and Finance

[225] viXra:1807.0292 [pdf] submitted on 2018-07-18 04:15:41

Nextgen Capital Market Development

Authors: Solomon Budnik
Comments: 6 Pages.

The purpose of this project is to implement the numerical-quantum monetary system to reduce and restructure sovereign debts, secure capital values and mitigate investment risks by applying new scientific methods, and models to advance the development of capital markets and world economies. This paper demonstrates new monetary principles by elaborating new trends in capital economics with integrated mathematics and physics, enabling to devise disruptive inter-monetary mechanisms and implement the NextGen financial instruments described below
Category: Economics and Finance

[224] viXra:1807.0258 [pdf] submitted on 2018-07-15 04:08:30

Fifa World Cup and Gini Coefficient

Authors: Anindya Kumar Biswas
Comments: 12 Pages.

In this paper we have found empirical evidence of a rising trend of lower Gini coefficient deciding the higher probability of winning of a country in a match in the FIFA World Cup. We have also studied the role of HDI in different stages of the football cup.
Category: Economics and Finance

[223] viXra:1807.0242 [pdf] submitted on 2018-07-12 06:26:19

Future Economics

Authors: Solomon Budnik
Comments: 5 Pages.

The purpose of this project is to promote the advance of the numerical-quantum economy and its progression to reduce sovereign debt, secure prosperity and mitigate the investment risks by applying new scientific methods, theories and models to analyze the current and future development of capital markets and world economies. This paper demonstrates new monetary principles, thus signifying new trends in capital economics with integrated mathematics and physics, enabling to predict the future economics based on new mechanisms described below.
Category: Economics and Finance

[222] viXra:1807.0086 [pdf] submitted on 2018-07-03 23:33:34

Leadership and Decision Making in Crisis in the Global Era: How Leadership Nowadays Can Encourage the Development of Business?

Authors: Evangelia Fragouli
Comments: 21 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

Leadership and decision making processes shape, influence and develop companies to gain competitive advantage, be profitable, promote sustainability and ultimately develop business. In the wake of globalisation, business are more susceptible to financial, legal, political, environmental, social and economic crises due to external and internal forces within and outside companies. The main objective of the research paper was to critically analyse the statement ‘Leadership & decision making in crisis in the global era: how leadership nowadays can encourage the development of business?’. An overview of leadership and decision making models applied in organizations are presented outlining challenges and issues that hinder business development. The study explores on the issues that might cause crisis in organizations and make leaders' decision making process more difficult. Moreover, it elaborates on the actions and the skills that a leader nowadays must acquire with the ultimate purpose to avoid future mistakes and develop organisations. A qualitative research methodology is applied based on critical literature review. The study concludes that the crises facing business discredit the current leadership practice, however they also provide a platform to formulate new paradigms to develop business. Keywords: Crisis, Leadership, Decision Making, Business JEL Classification: M0
Category: Economics and Finance

[221] viXra:1807.0085 [pdf] submitted on 2018-07-03 23:36:09

On Complex Dynamics of Regional Interaction

Authors: Georges Sarafopoulos
Comments: 11 Pages.

In this paper we consider the interaction between regions during the implementation of a reform on regional development through a discrete – time duopoly game with heterogeneous players. The existence and stability of equilibria of this system are studied. We show that a parameter of the system may change the stability of equilibrium and cause a structure to behave chaotically. For the low values of this parameter the game has a stable Nash equilibrium. Increasing these values, the Nash equilibrium becomes unstable, through period-doubling bifurcation. The complex dynamics, bifurcations and chaos are displayed by computing numerically Lyapunov numbers and sensitive dependence on initial conditions. Keywords: Regional Development, Institutional Reforms of Local Governments, Game Theory, Nash Equilibrium, Discrete Dynamical System; Chaotic Behavior. JEL Classification: C61, C72, R11
Category: Economics and Finance

[220] viXra:1807.0084 [pdf] submitted on 2018-07-03 23:38:08

Job Burnout and Motivation Among of Greek Bank Employees

Authors: Konstantinos Varsanis, Panagiotis Serdaris
Comments: 19 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

The present investigation aims to study the feelings of job satisfaction experienced by bank employees in Greece. In addition, it is studied how much the above feelings are affected by several demographic factors, like gender, age, educational level, years of experience in the specific institution, total years of experience and position held in the specific institution. The method which was preferred in the frame of the study was the quantitative research method. The tool which was used for the measurement of job satisfaction was the Employee Satisfaction Inventory, ESI, created by Koustelios, 1991. It included 24 questions, which measure six dimensions of job satisfaction: 1. Working conditions (5 items), 2. Earnings (4 items), 3. Promotions (3 items), 4. Nature of work (4 items), 5. Immediate superior (4 items) and 6. The institution as a whole (4 items) (total Chronbach’s α = 0.75). The responses were given in a five-level Likert scale: 1 = I strongly disagree, 5 = I strongly agree. The sample of the present study consisted of 230 employees of Greek banks and credit institutions. The results of the study showed that the feelings of job satisfaction experienced by Greek bank employees occur in quite high levels. Furthermore, it was found that job satisfaction is affected by several demographic characteristics, like age, gender, educational level and position held by the employee. However, further investigation should be carried out in the Greek population, so that the phenomenon of job satisfaction is well studied and promoted. Keywords: motivation, burnout, bank employees, Greece JEL Classification: J 21, J 24, J28, M 12, M54
Category: Economics and Finance

[219] viXra:1807.0083 [pdf] submitted on 2018-07-03 23:39:52

Managing Crisis or Crisis in Crisis Management? the Influence of Crisis on Greek and Foreign Companies that Operate in Greece

Authors: Evangelia Fragouli, Maria Kolonia
Comments: 41 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

The austerity packages that have been implemented in Greece since 2010 have been a factor causing political and social turbulence in the country. The present study investigates the influence of crisis on companies that operate in Greece and examines how this has been managed till now. An empirical study to a sample of employees working in Greek and foreign companies that operate in Greece demonstrates the preparedness or lack of preparedness of these companies and the implementation of possible crisis management plans and policies during the Greek economic crisis. The findings indicate that most of the Greek companies were not prepared and do not manage the crisis successfully. Foreign companies have managed the stressful situation more successfully. The paper suggests that crisis management requires strategic actions to be taken towards a desirable resolution to the problem. Managers have to develop organizational systems and be able to detect early warning signals and enable them to be better prepared for crisis events. This study has also shown that a crisis in managing crisis situation is possible to happen, when companies and corporate management teams do not develop crisis management plans on time. Keywords: crisis, management, leadership, business, influence, planning JEL Classification: M0
Category: Economics and Finance

[218] viXra:1807.0082 [pdf] submitted on 2018-07-03 23:41:59

On the Evolution of Institutional Reforms in a Region: a Bounded Rational Approach

Authors: Georges Sarafopoulos
Comments: 9 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

The paper considers the evolution of institutional reforms in a region during the implementation of a reform, on regional development. In previous work (Sarafopoulos and Ioannidis, 2014) we examined the evolution of the reforms on a region through a difference equation and we demonstrated that the slope of the tax function may change the stability of equilibrium and cause a structure to behave chaotically. In this article we show that by introducing a new parameter we can control the previous instability. For values of the slope which in the previous case created instability resulting a stable equilibrium. But also we prove that the new parameter generates instability and chaos. For some values of this parameter there is a locally stable equilibrium which is the value that maximizes the profit function of the local government. Increasing these values, the equilibrium becomes unstable, through period-doubling bifurcation. The complex dynamics, bifurcations and chaos are displayed by computing numerically Lyapunov numbers and sensitive dependence on initial conditions. Keywords:Regional Development, Institutional Reforms of Local Governments, Difference Equation, Equilibrium, Stability, Chaotic Behavior. JEL Classification: C61, C62, D42
Category: Economics and Finance

[217] viXra:1807.0081 [pdf] submitted on 2018-07-03 23:44:33

Museum Atmospherics: a Marketing and an Interpretive Tool

Authors: Kali Tzortzi
Comments: 11 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

In the competitive leisure marketplace, in which museums play a key role, architecture can add value to their experience and contribute to their ‘differential advantage’. Increasingly museum buildings are being addressed in the marketing literature not only as influencing the positive image of visitors and their intention to revisit, but also as affecting their experience of the museum display. This paper aims to further this idea and explore how the building’s physical and spatial form can add new dimensions to the meaning-making of the museum. Literature from different fields is brought together in the first part of the paper and the key concepts of museum atmospherics and the related model of servicescape are discussed as the theoretical background for this exploration. The paper takes as case studies two European museums which present aspects of the city’s history and share in common the character of their buildings as landmarks, their innovative spatial design, and the sensory qualities of their architecture. It shows how in both cases the museum’s powerful narrative is not in the discursive dimension of the experience of the exhibits, but in the holistic experience of the spatial setting, which visitors are invited to explore, with affective as well as cognitive outcomes. Through the analysis, the paper brings to the surface common paired themes between consumption and museum settings, such as atmosphere and tangible product, spatial layout and functioning, physical environment and distinctiveness, rational and embodied. Keywords: museum architecture; marketing; atmospherics; servicescape; spatial layout JEL Classification: M39
Category: Economics and Finance

[216] viXra:1807.0080 [pdf] submitted on 2018-07-03 23:45:53

Study on Expressway Marketization in China

Authors: Hongqian Feng, Xiaojun Guo
Comments: 9 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

Expressway is the national traffic artery and one of the monopoly basic industries, promoted the development of the economy. Expressway operation is in the initial stage, the country has long been dominated by the operation and management, has been followed by the pace of the times and slowly changing.With the development and accomplishment of Market Economy, many new forms continue to emerge: Expressway and Bridge toll, Sino foreign joint ventures, paid transfer, joint ventures, BOT model etc. But the operation of the expressway is still state-owned in China. Government-oriented operating mode have its advantages, but more disadvantages as well such as high operation cost, low efficiency, rent-seeking and expansion issues also can not be ignored. Therefore, through the analysis of expressway history and its present situation, comparing the advantages and disadvantages between the state-owned expressway operating mode and that of the marketization, we conclude that expressway in China is facing operation mechanism reform and its marketization is imperative. Keywords: Expressway, Marketization, Operation mode JEL Classification: R40, R49
Category: Economics and Finance

[215] viXra:1807.0079 [pdf] submitted on 2018-07-03 23:47:22

Male-Female Wage Differentials: Discrimination or Quality Differentials?

Authors: Dimitrios A. Giannias
Comments: 11 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

This paper presents a quality theory for labor that is offered for obtaining estimates of the demand for labor quality and testing whether there is feminist wage discrimination and whether labor quality depends on sex. The approach is instructive for understanding the workings of a hedonic labor market framework, offers closed form solutions, and allows the introduction of nonlinearities in the analysis. Keywords: hedonic pricing, quality differentials, product quality, labor quality, equilibrium model JEL Classification: J2, J3, D11
Category: Economics and Finance

[214] viXra:1807.0078 [pdf] submitted on 2018-07-03 23:48:59

A Perspective on the Anti-Corruption Accumulated Fund System: an Example of Jiangmen City in China

Authors: Nuan Lu, Wanxian Li
Comments: 11 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

This paper attempts to analyze the questions about the AAFS (anti-corruption accumulated fund system) of Jiangmen and corresponding constructive solutions. Especially, it investigates the content of the AAFS of Jiangmen City. The main finding is that there are four questions about the AAFS of Jiangmen city, such us fairness, impartiality, rationality and effectiveness. The paper suggests that in China, to develop the AAFS, the government should guide the public to face the AAFS squarely, enhance public participation and perfect relevant supporting systems. Keywords: anti-corruption accumulated fund system, Jiangmen city, anti-corruption JEL Classification: H4
Category: Economics and Finance

[213] viXra:1807.0077 [pdf] submitted on 2018-07-03 23:51:07

Monitoring Balanced Development: the Case of Post-Socialist Countries

Authors: Dimitrios Giannias, George Giannias
Comments: 33 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

This paper presents an index based methodology which is offered for analysing interregional differences, identifying suitable combination of policies, investigating ex-post whether there is progress towards convergence and balanced development, and suggesting possible changes in the allocation of funds by international organisations. The objective is to operationalize aspects of development and to show how these can be integrated into practical decision-making and analysis. As an illustration, the methodology is applied the case of the post-socialist countries of the Former Soviet Union (FSU). Keywords: balanced development, post-socialist countries JEL Classification: O10, O20, O40, O50, D10
Category: Economics and Finance

[212] viXra:1807.0076 [pdf] submitted on 2018-07-03 23:52:47

Study on the Supervision Mechanism of Public Policy Implementation in China

Authors: Wang Xin, Li Wanxian
Comments: 7 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

The analysis of public policy is a dynamic process, which includes public policy constituting, implementing and so on. Before the mid 1970s, the majority of experts and scholars were more concerned about the public policy formulation, but in practice, people gradually found the effect of public policy implementation. The latest study on public policy implementation turns to the supervision mechanism in order to strengthen the healthy, high efficient public policy implementation and combating corruption. Therefore, by reviewing the past literature on the supervision mechanism of public policy implementation and analyzing the dilemmas that China is facing, conclusions and countermeasures are discussed. Keywords: Public policy implementation; supervision mechanism; Policy analysis. JEL Classification: H00
Category: Economics and Finance

[211] viXra:1807.0075 [pdf] submitted on 2018-07-03 23:55:07

Implementation of Public Policy on the Di@vgeia (Clarity) Program in Greece: a Pure Bottom up Organizational and Procedural Model

Authors: Vasiliki Ntalakou
Comments: 15 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

Greek Public Policy on the di@vgeia (Clarity) program is based on Law 3861/2010 which was issued in June 2010. Although the agenda setting and formulation stages of this specific public policy were not affected by the economic crisis policy discourse, through its implementation stage it is perceived as a core initiative for fighting corruption and enhancing transparency on public spending and public administration activity in general. Di@vgeia initiative is conceived as a unique case of implementation success in Greece. This paper attempts to analyze the core characteristics of the program that form the bottom-up approach in the implementation stage. Especially, it investigates the implementation of the program which was based on a project management model consisting of a network of action and result - oriented management teams, one in each public agency (Project Task Forces). At the same time, the legislation provides that the core responsibility for uploading every act on the internet relies on the person or administrative body who is responsible for issuing it. This means that any administrative official on whatever level of administrative structure (e.g. ministry, local authority, legal entity etc) that has the authority to issue an act, is also responsible for assessing, based on a series of criteria, whether the document should be uploaded or not. Once the document is uploaded on the internet, every citizen can have a clear picture and opinion on the administrative action of the specific body or person. The main finding is that the bottom–up approach on implementing this specific public policy results in a maximum accountability of administrative officials on the quality of the documents, their formal characteristics and the administrative processes followed. The paper suggests that this model is also performed in other similar public policy initiatives relating to great horizontal public administration involvement. Keywords: Public policy cycle; Public policy implementation; Policy change; Bottom up approach; Di@vgeia (clarity) project;Street level bureaucrats JEL Classification: H11, KO, L880
Category: Economics and Finance

[210] viXra:1807.0074 [pdf] submitted on 2018-07-03 23:56:48

Environmentally Optimal Local Water Markets

Authors: Dimitrios A. Giannias
Comments: 27 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

A model is presented that incorporates water quantity and quality aspects and a market based system is developed to characterize optimum water allocations between two regions or countries or among users within a region. A methodology is developed to compute the market water quantity and quality price that would prevail in a local market and the methodology is illustrated using the water allocation problem between Greece and Bulgaria concerning Nestos river. Keywords: optimal allocation, water market, water quality JEL Classification: Q58, D1, D2
Category: Economics and Finance

[209] viXra:1807.0073 [pdf] submitted on 2018-07-03 23:58:34

A Survey on the PUBLIC’S Smoking and Smoking Control in Handan City, China

Authors: Yang Mengjie, Wanxian Li
Comments: 9 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

Smoke control is a worldwide trend and smoking prohibition in public places has aroused widespread attention, but China is the country with biggest tobacco production and consumption. Therefore smoke control in China is more difficult than any other country in the world. With the method of observing smoking in bus stop, express railway, some hospitals and restaurants, this paper analyses the reasons of smoking, and puts forward the corresponding countermeasures and suggestions for promoting and protecting the public health. Keywords: Public places; Smoking; smoke control, Smoking prohibition; Measures; Public health JEL Classification: H00
Category: Economics and Finance

[208] viXra:1807.0072 [pdf] submitted on 2018-07-04 00:01:22

Literature Review on Urban Integration of the Rural Workers in China

Authors: Yawei Song, Wanxian Li
Comments: 9 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

Social integration refers to the individual integrated into a social group, and complied with the social groups and social rules and eventually reduced the possibility of alienation. The new generation of rural migrant workers in China is generally born after 1980s, their age above 16, the young labor force whose household registration belonged to rural areas while working in the urban districts. Compared with the traditional rural migrant workers, the new generation has both subjective and objective advantages and are more easier to integrate into the city, With the continuous progress of urbanization in China, the problems of rural migrant workers has become the focus of attention. Summaries and comments are given toward the past research, and some creative ideas are also discussed. Keywords:urbanization, migrant, rural-worker, labor, integrate, city JEL Classification: L
Category: Economics and Finance

[207] viXra:1807.0071 [pdf] submitted on 2018-07-04 00:03:03

Regional Analysis of Standards of Living and Inequalities in Greece and the Allocation of eu Funding

Authors: George Giannias
Comments: 38 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

Regional indices get special attention because of their all inclusive nature which focuses on variables that are able to describe a region and indicate the level of its development. An analysis of consumer’s decision making indicates that the weights used for the regional variables considered and included in the index should not vary across regions. Given this, a regional index is computed for the 10 major regions of Greece assuming that all variables incorporated in it are equally weighted. The values of all variables considered are scaled from 0 - 100, so that the index is independent of units of measurement. According to the adapted regional index, the Athens Region is on the top of the ranking followed by Crete, Macedonia, Thessalia, Aegean Islands, Thrace, Peloponnisos, Sterea Ellada and Evia, Ionian Islands, and Epirus. A comparison of the regional indices with the per capita European Union funding indicates that the allocation of funds supports the integration process within Greece. Finally, an analysis of the actual versus the planned spending of the European Union funding indicates the low project management capabilities of the local (regional) administration in all cases. Keywords: standards of living, inequalities, European Union funding JEL Classification: R50
Category: Economics and Finance

[206] viXra:1807.0070 [pdf] submitted on 2018-07-04 00:05:28

The Aftermath of the “SICKLE-to-TIE” Process in Greece: What do Merchandise Export Trends Suggest?

Authors: Dimitrios KARKANIS
Comments: 49 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

The weak industrialization process of the Greek economy was reflected through the rapid transition from the formerly dominant agricultural production (the “sickle”) to the expansion of the service sector (the “tie”), mainly in terms of sectoral labor distribution during the last decades. This paper highlights the individual components of the recent upward trend regarding the Greek merchandise exports, through a stepwise decomposition of the total merchandise export value to those regarding the main exported products. This in turn leads to the identification of recent export growth prospects for more sophisticated manufactured products, related to the country’s weak industrial base. Keywords: Greece, Merchandise exports, Manufacturing trade, Agri-food exports, Global economic crisis JEL Classification: F10, F44, Q17
Category: Economics and Finance

[205] viXra:1807.0069 [pdf] submitted on 2018-07-04 00:08:04

A Time Series Analysis of the Nexus Between Macroeconomic Fundamentals and Stock Prices in Nigeria

Authors: Amassoma Ditimi, Bolarinwa Ifeoluwa
Comments: 35 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

Since macroeconomic fundamentals have been found to play a vital role for changes in the economy of a country. Consequently, the onus is on the appropriate regulatory authorities to take measures in making amendments in these policies to put the economy on the right development track. The aim of this study is to use time series analysis to empirically showcase the nexus between macroeconomic fundamentals and stock prices in Nigeria. The method used for this study was the Co-integration test and the EGARCH technique to estimate the possible influence of the selected macroeconomic fundamentals on stock prices. Volatility was captured by using quarterly data and estimated using GARCH (1,1) respectively. The study found there is a positive relationship between macroeconomic factors and stock prices in Nigeria. Therefore, the study recommends that the Federal authority should put in place policy measures that will enable the exchange rate to be relatively stabilized. This is because empirical evidence from studies has shown that exchange rate affects stock market prices. In addition, the government authority should ensure an enabling environment that would build the mindset of institutional investors in the Nigerian stock market due to the existence of information asymmetry problems among potential investors. Key words: Time series Model, Stock Market, EGARCH, Macroeconomic Policy, Nigeria, Financial Market, E-views, Macroeconomic impact JEL Classification: C11, C87, E61, F62, O55, G12
Category: Economics and Finance

[204] viXra:1807.0068 [pdf] submitted on 2018-07-04 00:10:18

The Volatility of Market Risk in Vietnam Listed Consumer Good Company Groups During and After the Financial Crisis 2007-2009

Authors: Dinh TRAN NGOC HUY
Comments: 32 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

This study estimates market risk of total 228 listed companies in Viet Nam consumer good industry during the financial crisis period 2007-2009. Firstly, we found out in the research sample that there are 86% of firms, of total listed firms, with beta values lower than (<) 1, meaning with lower risk, and the systemic risk is acceptable. Secondly, there are 14% among total 228 listed firms, whose beta values higher than (>) 1, meaning having stock returns fluctuating more than the market benchmark. Thirdly, among three (3) groups, the systemic risk in the material and consumer good industry is the smallest, shown by estimated values of equity and asset beta mean, and asset beta variance in the wholesale and retail industry is the smallest. Finally, this paper generates some analytical outcomes that enable companies and government to have more evidence in establishing their policies in investments and in governance Keywords: equity beta, financial structure, financial crisis, risk, asset beta, consumer good industry JEL Classification: G010, G100, G390
Category: Economics and Finance

[203] viXra:1807.0028 [pdf] submitted on 2018-07-01 23:09:59

Anticipatory Shock in the Global Economy

Authors: Miguel A. Sanchez-Rey
Comments: 1 Page.

Either way, an anticipatory shock.
Category: Economics and Finance

[202] viXra:1807.0024 [pdf] submitted on 2018-07-01 02:36:35

Personnel Work Time Management in Organization

Authors: Galina GAGARINSKAIA, Irina KUZNETCOVA, Aleksandr GAGARINSKII
Comments: 11 Pages. published in The UNIVERSITY WITHOUT BORDERS Journal of ECONOMICS & BUSINESS; https://universitywithoutborders.wordpress.com

The authors uncover socio-economic aspects of working time management, analyze social working conditions of employees in the organization, and also show socio-economic indicators and analyze the factors affecting the work time efficiency in the organization. The article provides a methodology for planning the number of employees by category depending on the time spent to manufacture the products. Presented are the results of surveying 84% of the total number of personnel in organizations (by the quota sample: status, age, sex), and the work time balance for an employee is created. Planned and actual number of the main staff categories in the organization is given.
Category: Economics and Finance

[201] viXra:1807.0023 [pdf] submitted on 2018-07-01 02:41:03

Selecting Various Industrial Competitors Affect the Risk Level of Viet Nam Stock Investment Industry

Authors: Dinh TRAN NGOC HUY
Comments: 23 Pages. Published in The UNIVERSITY WITHOUT BORDERS Journal of ECONOMICS & BUSINESS; https://universitywithoutborders.wordpress.com

Under a one factor model, this paperwork estimates the impacts of the size of firms’ competitors in the stock investment industry on the market risk level, measured by equity and asset beta, of 6 listed companies in this category. This study identified that the risk dispersion level in this sample study could be minimized in case the competitor size kept as current approximate size (measured by equity beta var of 0,034). Beside, the empirical research findings show us that equity beta min value decreases from 0,247 to 0,244 when the size of competitor doubles. Last but not least, most of beta values are acceptable. Ultimately, this paper illustrates calculated results that might give proper recommendations to relevant governments and institutions in re-evaluating their policies during and after the financial crisis 2007-2011.
Category: Economics and Finance

[200] viXra:1807.0022 [pdf] submitted on 2018-07-01 02:43:37

The Study of Consumer Preferences of Young Tourists

Authors: Leyla Hajiyeva
Comments: 17 Pages. Published in The UNIVERSITY WITHOUT BORDERS Journal of ECONOMICS & BUSINESS; https://universitywithoutborders.wordpress.com

For Azerbaijan which has taken a course on the development of the non-oil sector, tourism is the most preferable and promising sector of the economy. The favorable geographical location between Europe and Asia and the availability of necessary natural conditions contribute to the development of various types of tourism. Оne of them is youth tourism, the study of features of which is devoted to this article. А study of the needs and preferences of young tourists is aimed at identifying the main factors affecting their decision to travel. Studуing the peculiarities of the behavior of young people, tourist enterprises can develop the most appropriate marketing strategy for them.
Category: Economics and Finance

[199] viXra:1807.0021 [pdf] submitted on 2018-07-01 02:46:30

An Investigation of Financing Mechanisms of Renewable Energy and Energy Efficiency Projects in Jordan: a Review Pape

Authors: Ayman Abdalmajeed Ahmad Al-smadi
Comments: 23 Pages. Published in The UNIVERSITY WITHOUT BORDERS Journal of ECONOMICS & BUSINESS; https://universitywithoutborders.wordpress.com

The development of renewable energy and energy efficiency is crucial to Jordan’s current and future prosperity and there are substantial opportunities to pursue green growth. Despite the progress which has been made in this regard, there are some financial barriers that face this sector. These barriers concern the lack of familiarity of renewable energy and energy efficiency technologies and practices within banks. The government of Jordan is aware of these financial difficulties and that is why a fund of renewable energy and energy efficiency has been created to provide technical assistance to energy developers and financial institutions in addition to adopting a specific loan guarantee program to tackle the perceived risks that may face the financial institutions and to encourage these institutions to extend more credit facilities to this vital sector.
Category: Economics and Finance

[198] viXra:1807.0020 [pdf] submitted on 2018-07-01 03:10:04

The Value of Strategic Commitment in Mixed Duopoly Games with a Foreign Labor-Managed Firm

Authors: Kazuhiro OHNISHI
Comments: 17 Pages. Published in The UNIVERSITY WITHOUT BORDERS Journal of ECONOMICS & BUSINESS; https://universitywithoutborders.wordpress.com

This paper investigates an economy consisting of a state-owned firm and a foreign labor-managed firm. First, the paper considers a Cournot game where only the state-owned firm is allowed to offer lifetime employment as a strategic commitment, and demonstrates that there is a stable equilibrium which is profitable only for the state-owned firm. Next, the paper examines a Cournot game where only the foreign labor-managed firm can offer lifetime employment as a strategic commitment, and shows that there are two stable equilibria. The purpose of this study is to show the value of lifetime employment as a strategic commitment.
Category: Economics and Finance

[197] viXra:1807.0019 [pdf] submitted on 2018-07-01 03:12:21

Geopolitical Conditions in the Formation of Economic and Social Development in the Balkans

Authors: Miltiades KIPAS
Comments: 21 Pages. Published in The UNIVERSITY WITHOUT BORDERS Journal of ECONOMICS & BUSINESS; https://universitywithoutborders.wordpress.com

This paper aims at demonstrating the importance of infrastructures and geopolitical factors for the development of Balkan economies. The transition from the economy of central planning, as developed in the countries of Eastern Europe, to market economy essentially resulted in the replacement of economic and social structures dominant in these countries in the period 1945-1989. This transition was noticeably different from one country to another, despite the existence of some common features; such differences being determined by the particular character of these countries; their traditions; their infrastructures or their geopolitical position. Respective infrastructures also had to readjust to the new features of market economy, as, after all, it was the necessity of competitiveness itself that led these countries to develop infrastructures. In this framework, the development of infrastructures in the Balkans was an important feature in the period of their transition to market economy. Infrastructures are fundamental for the economic development of the Balkans; however, geopolitical factors also contributed to the development and growth of Balkan economies in direct relevance with the attitudes of potential investors in the respective markets.
Category: Economics and Finance

[196] viXra:1807.0018 [pdf] submitted on 2018-07-01 03:15:12

Trends and Calendar Effects in MALAYSIA’S Stock Market

Authors: Ayman Abdalmajeed Ahmad Al-smadi, Mahmoud Khalid Almsafir, Nur Hanis Hazwani Binti Husni
Comments: 17 Pages. Published in The UNIVERSITY WITHOUT BORDERS Journal of ECONOMICS & BUSINESS; https://universitywithoutborders.wordpress.com

Investing can help a person's wealth to generate more, and investing in stock is proven as one of the most profitable forms of available investment. The benefits gained in stock broking are immediate Buy/Sell which investor can sell part of their investment any time and at low transaction cost. However, investing in stock will require investor to observe the market, as market can be a volatile place and investor need to acquire knowledge of what they actually are doing. This study will discuss the price trends over the year, and how it will get affected by the seasonality in Malaysia, which also known as the calendar effects. The factor to be investigated in this study is the price on holiday’s season, the January effect or any other monthly seasonality. The daily price of KPJ Healthcare Berhad for the year 2011 is the sample was chosen in this study. Further this study, data used is derived from the weak-form efficient markets hypothesis, which is the price history and case study. Regression method is used in this study in order to help achieving the findings. This should be a continuous study, and adding on more other factors, such as wars and economic crises, and traders, investors and other speculators.
Category: Economics and Finance

[195] viXra:1807.0017 [pdf] submitted on 2018-07-01 03:17:08

A Review of Vietnam Tourism Development Policy

Authors: Nguyen Hoang Hien
Comments: 15 Pages. Published in The UNIVERSITY WITHOUT BORDERS Journal of ECONOMICS & BUSINESS; https://universitywithoutborders.wordpress.com

Tourism is one of the largest and the fastest growing economic sectors in the world. In many developing countries, tourism is considered a strategic economic sector, as this is one of the important sources of foreign exchange. Tourism creates business, trade and investment opportunities for the economy and protects the heritage and cultural values of the nation. Moreover, the tourism industry is labor intensive, tourism development can create jobs in society. And finally, tourism is a smoke-free industry, so it’s development does not affect the environment and it is likely to stimulate economic growth. In Vietnam, the tourism industry has exploded since the early 2000s, with the rapid growth of both international and domestic tourists. The Vietnamese government regards tourism as a spearhead economic sector, and the development of tourism can promote economic development. Therefore, Vietnam has had many policies for tourism development in the past two decades. This paper looks at the development of Vietnam's tourism sector in the period 2000-2016, analyzes Vietnam's policies for tourism, compares them with policies of other regional countries such as Thailand and Malaysia in order to find the solutions for Vietnam tourism development.
Category: Economics and Finance

[194] viXra:1807.0016 [pdf] submitted on 2018-07-01 03:27:40

Complexity in a Monopoly Market with Non Linear Demand and Cost Functions

Authors: Georges Sarafopoulos
Comments: 11 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

In this paper the equilibrium state of a bounded rational monopolist model is studied. It is assumed that the entire demand and cost functions are nonlinear. The equilibrium of the model is equal to the level of price that maximizes profits, as can be seen in the classical microeconomic theory. However, complex dynamics can arise and the stability of equilibrium state is discussed. The complex dynamics, bifurcations and chaos are displayed by computing numerically Lyapunov numbers and sensitive dependence on initial conditions.
Category: Economics and Finance

[193] viXra:1807.0015 [pdf] submitted on 2018-07-01 03:30:35

Is Hedge Funds Declared Strategy Compatible with What Actually Data Say?

Authors: Theodosios PALASKAS, Chrysostomos STOFOROS
Comments: 25 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

Constructing a diversified hedge funds portfolio is very much associated with the degree of complementarity/substitutability of alternative fund strategies/styles, which are self declared by fund managers. To this extend, an obvious and important question related to the safe pick by investors of a specific fund strategy is: ‘if and to what extend the fund managers declared strategy and its investment style are compatible with what actually their performance states?’. If yes, then the investors’ decision making is well informed, otherwise they run to risk of constructing a homogeneous rather than heterogeneous portfolio of funds. The purpose of this paper is, by utilizing clustering techniques -k-means and two-step -, to identify the compatibility between managers self-declaration of fund strategy/style and what the data actually reveal. The framework used is based on data driven classification, covering 2,853 hedge funds of all strategies and styles for the period 2000-2009 with monthly returns, standard deviations, skewness, kurtosis and % of positive months as inputs. The results suggest that both, k-means and two-step clustering, produce similar outcomes and that all funds strategies and styles are classified in eight clusters. Moreover, the results indicate that, other than convertible arbitrage, emerging markets and event driven fund strategies, which are mainly classified in one cluster, none of the other hedge fund strategies appear as a homogeneous category. The latter suggests that investors should be very careful when building up their portfolio of hedge funds because the self-declaration of fund managers’ strategy could be misleading.
Category: Economics and Finance

[192] viXra:1807.0014 [pdf] submitted on 2018-07-01 03:34:03

Job Satisfaction and Demofraphic Characteristics of Greek Bank Employees

Authors: Dimitrios Belias, Athanasios Koustelios, Maria Koutiva, Labros Sdrolias, Nikolaos Kakkos, Konstantinos Varsanis
Comments: 27 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

The present investigation aims to study the feelings of job satisfaction experienced by bank employees in Greece. In addition, it is studied how much the above feelings are affected by several demographic factors, like gender, age, educational level, years of experience in the specific institution, total years of experience and position held in the specific institution. The method which was preferred in the frame of the study was the quantitative research method. The tool which was used for the measurement of job satisfaction was the Employee Satisfaction Inventory, ESI, created by Koustelios, 1991. It included 24 questions, which measure six dimensions of job satisfaction: 1. Working conditions (5 items), 2. Earnings (4 items), 3. Promotions (3 items), 4. Nature of work (4 items), 5. Immediate superior (4 items) and 6. The institution as a whole (4 items) (total Chronbach’s α = 0.75). The responses were given in a five-level Likert scale: 1 = I strongly disagree, 5 = I strongly agree. The sample of the present study consisted of 230 employees of Greek banks and credit institutions. The results of the study showed that the feelings of job satisfaction experienced by Greek bank employees occur in quite high levels. Furthermore, it was found that job satisfaction is affected by several demographic characteristics, like age, gender, educational level and position held by the employee. However, further investigation should be carried out in the Greek population, so that the phenomenon of job satisfaction is well studied and promoted.
Category: Economics and Finance

[191] viXra:1807.0013 [pdf] submitted on 2018-07-01 03:36:43

Inventory Holding and International Mixed Duopoly

Authors: Kazuhiro Ohnishi
Comments: 19 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

This paper considers a two-period international mixed duopoly model in which a domestic state-owned welfare-maximizing public firm and a foreign profit-maximizing private firm are allowed to hold inventories as a strategic device. In the first period, each firm simultaneously and independently chooses how much it sells in the current market and the level of inventory it holds for the second-period market. By holding inventory, a firm can change the competitive environment in the second period. The paper demonstrates that inventories are used by the domestic state-owned public firm to achieve a collusive outcome.
Category: Economics and Finance

[190] viXra:1807.0012 [pdf] submitted on 2018-07-01 03:39:52

Tourist Destination Marketing and Measurement of Tourist Satisfaction: the Case of Santorini Island

Authors: Theodossiou George, Thanou Eleni, Kallivokas Dimitrios
Comments: 19 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

The present paper is the first of a series of research papers that aims to investigate the structure and quality of the "Greek touristic product" in the context of a global competitive industry, identifying strengths and weaknesses and proposing appropriate marketing responses. The paper focuses on Santorini island, 16th tourist destination in Europe, examining the degree of satisfaction of the island's visitors. The research is based on primary data, collected through a questionnaire addressed to departing tourists who had spent at least 5 days on the island and had stayed in a tourist accommodation unit. The sample was compiled with the multistage random sampling method. A number of hypotheses were tested in order to investigate differentiations in tourist satisfaction responses among country of origin, income, age, individual or agency travel and type of accommodation used. Our findings indicate an overall high level of satisfaction in most areas. The highest ratings were associated with private sector offerings (hotels, restaurants, friendliness/attitude of the local residents) against lower ratings received on public infrastructure items. Lastly, the responses were analyzed with the SPSS statistical package, using mainly the t-tests to discover statistically significant variations in the responses of different sub-groups of our sample. The main difference was found among those that stayed in hotel rooms vs. staying in rented rooms/ apartments, with the former belonging to higher income groups and expressing higher satisfaction both for their accommodation as with other aspects of the tourist product. The conclusion is that Santorini's tourist product is best suited to those with higher holiday budget, and marketing efforts as well as improvement of the tourist experience offering must continue to focus on this segment in order to maximize both tourist satisfaction and the sector's income.
Category: Economics and Finance

[189] viXra:1807.0011 [pdf] submitted on 2018-07-01 03:46:49

Institutional Reforms in a Region: on the Complexity of Their Evolution

Authors: Georges Sarafopoulos, Panagiotis G. Ioannidis
Comments: 11 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

The paper considers the evolution of institutional reforms in a region during the implementation of a reform, on regional development. For this purpose we use a difference equation. The existence and stability of equilibria are studied. We show that the slope of the tax function may change the stability of equilibrium and cause a structure to behave chaotically. For some values of this parameter there is a locally stable equilibrium which is the value that maximizes the profit function of the local government. Decreasing these values, the equilibrium becomes unstable, through period-doubling bifurcation. The complex dynamics, bifurcations and chaos are displayed by computing numerically Lyapunov numbers and sensitive dependence on initial conditions.
Category: Economics and Finance

[188] viXra:1807.0010 [pdf] submitted on 2018-07-01 03:48:29

The Hellenic Internal Security System in Combating Organized Crime. the Case of the Hellenic Coast Guard

Authors: Tryfon KORONTZIS
Comments: 27 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

Organized crime has a global character and is one of the most serious threats in the modern societies for decades. This phenomenon because of the characteristics that govern modern societies and economies, namely globalization, transnational flows, reduction of distances due to the technology evolution has taken international dimensions. These evolutions help the development of international profitable illegal activities. Organized Criminal Groups (OCG) are operating simultaneously in more than one countries internationalizing with that way crime, making difficult and painful its effective and comprehensive combat. Besides the international character of modern organized crime, an additional problem is the modernization of mode and methods of action that are used by criminal groups.
Category: Economics and Finance

[187] viXra:1807.0008 [pdf] submitted on 2018-07-01 03:52:52

Reputation Risk Management (RRM) in the Petroleum Industry: the Role of Corporate Social Responsibility

Authors: Evangelia FRAGOULI
Comments: 21 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

The petroleum industry is institutionally complex and its operations are integrated across the entire supply chain. In case of accidents, there are always major economic losses and serious environmental consequences which can damage the reputation of the companies. This makes reputation risk management very important. As a policy strategy, CSR plays significant role in shaping the perceptions of stakeholders about the activities of companies, hence has the potential of protecting companies against reputational risks. This study aims to critically examine the role CSR plays in Reputation Risk Management in the petroleum industry. It investigates and critically analyses Reputation Risk Management policies and the influence CSR initiatives have on stakeholders. After a general background introduction to the petroleum industry, it discusses the nature of reputation and reputation risk management, highlighting the existence of policy issues and the approach adopted in managing reputation risk in the petroleum industry. Reputation is driven by regulatory compliance, strong financial performance, employees and customer satisfaction, good corporate governance and leadership. The study shows that CSR as a policy strategy plays a significant role in RRM. In this regard, the study concludes that CSR initiatives can positively influence the desire to manage the reputation of companies in the petroleum industry. The study recommends CSR as a holistic approach capable of building an everlasting reputation for companies within and outside the petroleum industry.
Category: Economics and Finance

[186] viXra:1807.0007 [pdf] submitted on 2018-07-01 03:56:16

Financial Banking Supervision: a View of an Updated Secondary Research the Greek Reality

Authors: Anastasia Kopaneli
Comments: 18 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

Financial Banking Supervision is widely recognized as an extremely necessary process throughout the years in the last decades. To begin with, it refers to a Preventive Control and to Supervision as well, with a central aim of «preventing» the Financial Banking Sector – in fact and more specifically, Financial Banking Supervision is related to a chain of rules set, mainly by, the Bank of International Settlements (BCBS-BASEL, BIS) in collaboration with the Central Bank in each country-member so that a Monetary and Financial Stability is achieved nationally and globally too (BCBS October 2013, Jorion 2002, Singleton 2011). This article presents the fundamentals of Financial Banking Supervision together with the updated statistical data taken from valid and reliable sources and organizations. In line with the above, the objectives are specific: •To make the reader concentrate on the fundamentals of Financial Banking Supervision. •To make the reader see the relation between the classic literature of Finance and Banking Supervision and the Updated Statistical Data. •To make the reader see the Greek reality. So, it is clear, that the results are based upon comparisons between theory and practice in a continuous way. Thus, the Methodological Conceptual Framework is based upon classic literature of Finance and Banking while updated statistical data is used as well (as Financial Banking Supervision is in a continuous advancement taking into serious consideration all the issues of the National and the Global Economy, especially in nowadays). The used data concerns the Global and the Greek Reality (http://www.bankofgreece.gr) as shown in Figures 1,2,3,4 and in Table 1.
Category: Economics and Finance

[185] viXra:1807.0006 [pdf] submitted on 2018-07-01 04:05:15

Health Care Services in Public Hospitals in Region of Eastern Macedonia and Thrace-Greece

Authors: Giannoula FLOROU, Vasileios AGGELIDIS, Christos BATZIOS, Anastasios KARASAVVOGLOU, Ioannis PETASAKIS, Persefoni POLYCHRONIDOU
Comments: 25 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

The economic crisis which has plagued the economies of Southern Europe the last five years, and its unforeseen adverse effects on socio-economic indicators of our country, still constitute an evolving and up to date phenomenon, enhancing a range of other issues, including that of providing health care services to the citizens. In this context, this paper focuses on the investigation of the basic features of hospitalization in patients who received health care services in hospitals in the Region of Eastern Macedonia and Thrace, during the period 2005-2011. The analysis was based on data drawn from the official statements of the public hospitals of “Kavala”, “Drama”, “Komotini”, “Xanthi”, “Alexandroupolis” and “Didimotichon”, and refer to key variables, such as the “number of inpatient”, the “sex of patients”, the “clinic/department of hospitalization”, the “duration of hospitalization”, the “insurance organization”, the “the rate of plenitude of clinic”, etc. From the statistical analysis and the evaluation of data the current situation is outlined, with regard to the health care services provided by the central health care units in the Region of Eastern Macedonia and Thrace, over time and cross section, and useful results emerge which can also serve as the basis for more rational planning and decision making.
Category: Economics and Finance

[184] viXra:1807.0005 [pdf] submitted on 2018-07-01 04:06:36

The Museum Visitor as Consumer

Authors: Kali Tzortzi
Comments: 21 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

This paper takes as its starting point the idea that in museums the consumers are the visitors, and that, with the growing prevalence of the marketing approach and greater competition for audience, it is increasingly significant for museums to understand visitors’ reactions to the exhibitions they offer. There has been a long debate as to how to organize exhibitions, but there is no standard method for assessing their effectiveness, though a variety of evaluative techniques have been applied, from interviews and questionnaires through to observation of behaviour. Here we argue that important keys to visitors’ reactions are reflected in observable and quantifiable aspects of their behaviours, including the precise ways in which they move through the exhibition spaces and view exhibits. The key innovation of the research lies in relating these quantifiable patterns to museum intent, meaning how architects and curators seek to shape visitor experience and understanding through spatial design and display narrative. In this paper, we take four case studies of museums with different exhibition concepts and layouts, and show that empirical evidence of different patterns of movement and viewing can lead to deeper understanding of visitors’ responses, and allow more informed choices in designing consumer-centred museums.
Category: Economics and Finance

[183] viXra:1807.0004 [pdf] submitted on 2018-07-01 04:08:34

Partial Privatization in International Mixed Duopoly with Price Competition

Authors: Kazuhiro Ohnishi
Comments: 21 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

This paper examines privatization policy in a price-setting mixed duopoly where a domestic public firm competes against a foreign private firm. The domestic government chooses the degree of privatization to maximize domestic welfare. The paper considers two games: Bertrand-Nash competition and Stackelberg competition with the domestic firm being the leader. The paper shows that neither full nor partial privatization is optimal in the two international mixed duopoly games with price competition.
Category: Economics and Finance

[182] viXra:1807.0003 [pdf] submitted on 2018-07-01 04:11:11

Structure and Agency in Entrepreneurial Intention in the Midst of Crisis: Understanding the Profiles of Aspiring Greek Small Entrepreneurs in the Agro-Food Sector

Authors: Philippos PAPADOPOULOS, Christos BAKOUROS, Anisa BELLOU
Comments: 23 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

This paper investigates the usefulness of Margaret Archer’ model in explaining entrepreneurial intention in the Greek agro-food sector. The empirical study was prompted by the salience of both entrepreneurship and the specific sector in current public discourse. The findings of the study suggest that the typology can be used to gain insights into significant aspects of the topic and highlights the need to avoid linear causal schemata and adopt a more holistic approach in researching entrepreneurial intention. Further more, the limitations of a quantitative methodology were revealed, and the consequent need to rely on in-depth qualitative interviews in order to gain a “think picture” of entrepreneurial conduct.
Category: Economics and Finance

[181] viXra:1807.0002 [pdf] submitted on 2018-07-01 04:13:28

Interaction of Local Governments: a Dynamic Approach with Homogeneous Players

Authors: Georges Sarafopoulos
Comments: 11 Pages. Published in The Hellenic Open Business Administration Journal; https://hobajournal.wordpress.com/

In this paper we point to the difficulty of applying concepts of microeconomic theory (competition between products and firms) at the political level (competition between regions). To emphasize this difficulty we present a model of competition between two local governments in order to show complexity and non-predictability. We consider the interaction between local governments during the implementation of a reform on regional development through a discrete – time duopoly game where the players have homogeneous expectations. The existence and stability of equilibria of this system are studied. We show that a parameter of the system may change the stability of equilibrium and cause a structure to behave chaotically. For the low values of this parameter the game has a stable Nash equilibrium. Increasing these values, the Nash equilibrium becomes unstable, through period-doubling bifurcation. The complex dynamics, bifurcations and chaos are displayed by computing numerically Lyapunov numbers and sensitive dependence on initial conditions.
Category: Economics and Finance

[180] viXra:1806.0462 [pdf] submitted on 2018-06-30 16:44:51

Confirmation of the Vickrey Auction Theorem Copyright © 2018 by Colin James III All Rights Reserved.

Authors: Colin James III
Comments: 3 Pages. Copyright © 2018 by Colin James III All rights reserved. Note that comments on Disqus are not forwarded or read, so respond to author's email address: info@cec-services dot com.

When the third state of negative payoff is included (ignored by the wiki rendition of the theorem), the equation as rendered is tautologous. This means the Vickrey auction theorem is confirmed.
Category: Economics and Finance

[179] viXra:1805.0430 [pdf] submitted on 2018-05-23 17:41:13

Duality-Symmetric Finance

Authors: Soerivhe Iriene
Comments: 12 Pages.

Duality-Symmetric Finance is a novel monetary and financial system that may revolutionize economies since it is fundamentally resistant to rampant hyperinflation.
Category: Economics and Finance

[178] viXra:1805.0413 [pdf] submitted on 2018-05-24 13:22:30

The Use of Energy Pricing in Renewable Smartgrids

Authors: Antoine Warnery
Comments: 9 Pages. French

The purpose of this paper is to explore how the pricing energy can best serve the aims of environmental policy.
Category: Economics and Finance

[177] viXra:1805.0386 [pdf] submitted on 2018-05-22 09:18:08

Unified Complex-Dynamical Theory of Financial, Economic, and Social Risks and Their Efficient Management: Reason-Based Governance for Sustainable Development

Authors: Andrei P. Kirilyuk
Comments: 9 Pages. Published as section 8.4 of the book: A. P. Kirilyuk, Theory of Everything, Ultimate Reality and the End of Humanity: Extended Sustainability by the Universal Science of Complexity (LAP LAMBERT Academic Publishing, Beau Bassin, 2017), viXra:1802.0168

An extended analysis compared to observations shows that modern “globalised” world civilisation has passed through the invisible “complexity threshold”, after which usual “spontaneous”, empirically driven kind of development (“invisible hand” etc.) cannot continue any more without major destructive tendencies. A much deeper, non-simplified understanding of real interaction complexity is necessary in order to cope with such globalised world development problems. Here we introduce the universal definition, fundamental origin, and dynamic equations for a major related quantity of (systemic) risk characterising real complex system development tendencies at any level of dynamics. Practically important conclusions are derived, opening further detailed applications in economy, finance and development practice.
Category: Economics and Finance

[176] viXra:1805.0291 [pdf] submitted on 2018-05-15 02:07:10

Numerical Simulations Reveal Complexity of Outcomes in Digital Markets

Authors: Bronwyn E Howell, Petrus H Potgieter
Comments: 1 Page.

Bundling is a key feature for information goods. These goods include many of the services like music streaming, gaming and subscription television or video streaming services that make up a substantial share of the modern economy. We have constructed a computer simulation model of markets for information goods that allows us to explore outcomes and strategies under the assumption that firms offer differentiated products and price at discrete price points (not on a theoretical mathematical continuum) and that the consumers are a finite (set of individuals and/or groups). This document outlines our model and results, to appear in a forthcoming paper.
Category: Economics and Finance

[175] viXra:1804.0205 [pdf] submitted on 2018-04-17 08:38:51

A Physical Review on Currency

Authors: Ran Huang
Comments: 14 Pages.

A theoretical self-sustainable economic model is established based on the fundamental factors of production, consumption, reservation and reinvestment, where currency is set as a unconditional credit symbol serving as transaction equivalent and stock means. Principle properties of currency are explored in this ideal economic system. Physical analysis reveals some facts that were not addressed by traditional monetary theory, and several basic principles of ideal currency are concluded: 1. The saving-replacement is a more primary function of currency than the transaction equivalents; 2. The ideal efficiency of currency corresponds to the least practical value; 3. The contradiction between constant face value of currency and depreciable goods leads to intrinsic inflation.
Category: Economics and Finance

[174] viXra:1803.0694 [pdf] submitted on 2018-03-28 04:54:45

How Cloud Computing Impacts Supply Chain Performance and Business Strategies

Authors: SongIl Choe, IlNam Li, WonJun Min, UnChol Li, JongSu Kim
Comments: 10 Pages.

This paper explores the managerial perceptions on the use of cloud computing in enterprise supply chain( SC) management. Specifically, this paper seeks to address how cloud computing impacts supply chain performance and bussiness strategies. This paper also presents a comparison of traditional supply chain concepts such as the efficient SC and responsive SC and a new concept for emerging ICT as the cloud computing area with cloud services as traded products. The comparison analysis suggested thatcloud computing can improve supply chain performance and business strategy objectives
Category: Economics and Finance

[173] viXra:1803.0500 [pdf] submitted on 2018-03-22 15:56:29

A Global Consumer-Driven Low-Carbon Investment Fund for Development and Adaptation

Authors: Anthony J. Webster
Comments: 4 Pages.

A successful response to climate change offers the greatest public health opportunity of the century, but intervention is needed to prevent catastrophic climate change and to realise this tantalising possibility. A global investment fund for development, R&D, and low-carbon investments can succeed, with long-term dividends used for adaptation to the climate. It can be funded by numerous small voluntarily paid levies on purchases and transactions, encouraged by global icons, and paid by multinational companies that benefit from good publicity and growing markets. A grassroots response can start arbitrarily small, but aspire to include all transactions.
Category: Economics and Finance

[172] viXra:1802.0435 [pdf] submitted on 2018-02-28 16:17:44

Deep Learning for Causal Inference

Authors: Vikas Ramachandra
Comments: 12 Pages.

In this paper, we propose the use of deep learning techniques in econometrics, specifically for causal inference and estimating individual as well as average treatment effects. The contribution of this paper is twofold: 1.For generalized neighbor matching to estimate individual and average treatment effects, we analyze the use of autoencoders for dimensionality reduction while maintaining the local neighborhood structure among the data points in the embedding space. This deep learning based technique is shown to perform better than simple k nearest neighbor matching for estimating treatment effects, especially when the data points have several features/covariates but reside in a low dimensional manifold in high dimensional space. We also observe better performance than manifold learning methods for neighbor matching. 2. Propensity score matching is one specific and popular way to perform matching in order to estimate average and individual treatment effects. We propose the use of deep neural networks (DNNs) for propensity score matching, and present a network called PropensityNet for this. This is a generalization of the logistic regression technique traditionally used to estimate propensity scores and we show empirically that DNNs perform better than logistic regression at propensity score matching. Code for both methods will be made available shortly on Github at: https://github.com/vikas84bf
Category: Economics and Finance

[171] viXra:1802.0119 [pdf] submitted on 2018-02-10 15:53:02

Crecimiento ECONÓMICO DE Colombia Durante el Keynesianismo Y el Neoliberalismo Monetarista, 1960-2016

Authors: Alfonso León Guillén Gómez
Comments: 48 Pages.

Se examina el crecimiento económico de largo plazo, ocurrido en los últimos 56 años, en Colombia, durante los períodos keynesiano y neoliberal, bajo la consideración de constituir una estructura económica capitalista dependiente. Por lo tanto, relacionando su crecimiento con el de los Estados Unidos y el Reino Unido que conforman el principal eje de dominación mundial. Con tal objetivo primero se construye un modelo conceptual de tal historia para en segundo lugar analizarla e interpretarla utilizando herramientas estadísticas del análisis de series de tiempo.
Category: Economics and Finance

[170] viXra:1802.0068 [pdf] submitted on 2018-02-07 09:37:09

Spectra of Economic Inflation

Authors: Anindya Kumar Biswas
Comments: 19 Pages. It's an application of a model of economics developed in analogy with theory of electrodynamics of physics

In this article, we derive relations between inflation and rate of unemployment for a set of economic systems, using a theoretical model developed under the spell of Maxwell’s electrodynamics. Inflation in a place, in the model, is proportional to the frequency of economic power flow to the place from outside. Rate of unemployment in that place is a power law function of the frequency. Relations are of power law types i.e. inflation varies inversely as a power of rate of unemployment. Consequently, we get a spectrum of inflationary exponents. Exponents obtained are 2/5, 2, 2/(5+4l), 6.7; 1/6, 1/4, 1/(2l+6), 0.26; 1/4, 1/2, 1/(2l+4), 0.61; -2/3, -2/7, 2/(4l-3), -0.2; 1, -1, 1/(2l+1), -0.4 respectively; where, l is a positive integer. We draw few representative Phillips curves i.e. graphs of inflation vs rate of unemployment, discuss about the consequences of the spectra and surmise about the relevance of CPI over WPI from the model.
Category: Economics and Finance

[169] viXra:1712.0675 [pdf] submitted on 2017-12-31 16:15:50

The 72 Long Cycle and 9 Short Cycle of Global Stock Crashes: the Next 2018 Crash

Authors: luis Sancho
Comments: 43 Pages. published last day of 2017 first predicted in 97 as all previous crashes that have happened since evolution IS a predictable science

Our models of the eco(nomic)system study the evolution of machines and its company-mothers according to the laws of biology. First published in the 97 book 'Bio-history, Bio-economics, a theory of Unification', we predicted then the crash of 2001, due to the overproduction of chips (minds of machines), 72 years after the 1929 crash due to overproduction of electrochemical engines (ticker, cars, radios), the heart of machines, 72 years after the 1857 crash due to overproduction of bodies of machines (trains). We now expand the last of the 3 short 9 year product cycle of crashes, the book predicted for 2001-2009-2018, prolegomena of III world war
Category: Economics and Finance

[168] viXra:1712.0661 [pdf] submitted on 2017-12-29 23:57:59

A Look Through Globalism in Japan and South Korea

Authors: Seungmin Song
Comments: 17 Pages. This paper was written for self-satisfactory purpose, not for a specific project.

For South Korea, globalization started to take a significant role after the end of Korean war. Even though there are records of international trade during the “Koryo” period and a process of Westernization with the impact of Japan’s Globalization during the Japanese Occupation, it was nearly resetted by the devastating effects of the War. As South Korea required a big shift after massive destruction during the war, the country started planning on earning international monetary in order to develop economically. Globalization of the country was the fundamental process for Korea’s fast development in the past 50 years. Japan, on the other hand, had a more gradual process through globalism. The first trade between Japan and Western countries took place in 1543, where they shared religion, economic styles, and their products. With no major barrier against the process of globalization like Korea, they have developed through a considerable amount of time with globalism that they were able to secure their own cultures without altering it with a dramatic drift through globalization. Japan also have a history for showing dominant nationalism through the event of World War 2. With its emphasis in strict nationalism impacted the way they developed their own globalization in their country.
Category: Economics and Finance

[167] viXra:1712.0466 [pdf] submitted on 2017-12-15 23:44:57

Harvard Q-Guide Predictions Market

Authors: Luis Perez, Haotian Wu
Comments: 14 Pages.

Given the announcement by Harvard College to stop publishing difficulty rating for courses \cite{crimson}, a need has arisen for alternative methods of information gathering among undergraduates. In this paper, we propose different prediction market mechanisms, detailing user input/output, contract definitions, and payment rules for each of the proposed mechanisms. The goal of each mechanism is to obtain accurate predictions that could replace Q-guide data (overall course quality, difficulty rating, and workload rating). We further discuss properties of each prediction market, such as the truthfulness incentives of for individual agents, individual agent's optimal policies, and expected results from each market. We conclude with a discussion and explanation of a simple toy implementation of the market, detailing design consideration that might affect user behaviour in our market, and laying the groundwork for future expansion and testing.
Category: Economics and Finance

[166] viXra:1712.0361 [pdf] submitted on 2017-12-08 07:20:28

Economic Sociodynamics: Criticism

Authors: Arsen A. Movsesyan
Comments: 13 Pages.

The article provides a solution to the problem of classification of the Social Sciences, and briefly tells about the newly discovered fundamental Laws of Sociodynamics, which are the driving force of the historic progress. The author, based on these laws, holds constructive criticism of the Concept of Economic Sociodynamics (CES) proposed by R. S. Greenberg and A. J. Rubinstein. The corresponding analysis bears interdisciplinary nature at the junction of sciences such as Sociodynamics, Psychology and Physics. The article reasonably shows the fallacy of the foundation of CES and its potential danger. The author in doing so was basing on the objective Laws of Nature and not on the subjective judgments.
Category: Economics and Finance

[165] viXra:1711.0427 [pdf] submitted on 2017-11-27 07:23:30

Rational Principles of Economics and Their Applications: A Legacy from Science

Authors: Gaurav Biraris
Comments: 25 Pages.

New approach to study economies is adopted in the paper. The change in prices is assumed solely by variation in demands or supplies. Cause of such variations is quantified. Efforts behind changes in demand, supply and prices are characterized as ‘potential’. The potential stems from different kind of resources and is utilized for trade or production; quantification of such utilization is done. We also have explored rules about flow of potential in economy. The laws can be used to study evolution of economies. A set of goods & services, population and initial prices can be considered as the economy for study. In addition to conventional parameters, we get a new state determining parameter for economy defined as ecomperature. Ecomperature mimics temperature from physics. Resources flow from sections of higher ecomperature to that of lower ecomperature to attain uniformity in ecomperatures. Some aspects of possible applications of the theory are discussed. The paper isn’t about interdisciplinary analogies or similarities, but it is about the foundative reasoning behind the scientific mechanisms.
Category: Economics and Finance

[164] viXra:1711.0385 [pdf] submitted on 2017-11-21 15:40:20

Waiting for John Maynard Keynes

Authors: Miguel A. Sanchez-Rey
Comments: 6 Pages.

Keynes and the internationalist model.
Category: Economics and Finance

[163] viXra:1710.0199 [pdf] submitted on 2017-10-15 14:47:30

Salary Fluctuation Theory

Authors: Chuanli Chen
Comments: 11 Pages.

In this paper, based on my previous price theory, I will put forward my own labor market price determination theory, I will discuss the determination of price under different situations.
Category: Economics and Finance

[162] viXra:1710.0195 [pdf] submitted on 2017-10-16 01:23:27

Interest Theory

Authors: Chuanli Chen
Comments: 15 Pages.

In this paper I will put forward my own interest theory. I will discuss the factors that could influence the real interest rate. I will discuss the relationship between the interest, money supply and money demand.
Category: Economics and Finance

[161] viXra:1710.0114 [pdf] submitted on 2017-10-11 05:15:07

The 'Babylonian' Accounts of Society

Authors: Stephen I. Ternyik
Comments: 1 Page.

The accounts of society reviewed.
Category: Economics and Finance

[160] viXra:1710.0068 [pdf] submitted on 2017-10-06 10:06:17

The Determination Theory of Supply and Demand

Authors: Chuanli Chen
Comments: 5 Pages.

Whether the supply creates its own demand or the demand determines the supply has been a debate for one hundred years. In this paper, I will write my own perspective. I will analyze how the demand and supply interact with each other.
Category: Economics and Finance

[159] viXra:1710.0063 [pdf] submitted on 2017-10-05 06:49:29

Avaliação de Glebas

Authors: Alfredo Dimas Moreira Garcia
Comments: 22 Pages. Areas Value Update of the excellent work of Eng. Hélio de Caires including the Vantage of the thing done (Vcf) and corrections due to the current legislation

Avaliação de Glebas Atualização do excelente trabalho do Eng. Hélio de Caires incluindo a Vantagem da coisa feita (Vcf) e correções devido à legislação atual
Category: Economics and Finance

[158] viXra:1708.0339 [pdf] submitted on 2017-08-24 23:00:16

木币:一种为长寿命和稳定性而建立的点对点电子货币

Authors: Funkenstein the Dwarf, Difei Zhang
Comments: Pages.

我们在这里概述木币的设计考虑和实施,特别是与其他加密货币相区别的 部分。木币是一种非常像比特币的加密货币。然而,比特币的设计是明确地将 一种不可再生资源(黄金)做成了模型。对于木币,我们更加密切地将可持续 资源做成模型。特别是木币可以避免比特币释放模型中时间的不对称性,最大 限度地激励货币的参与和延长货币的使用寿命。我们的解决方案能使货币供应 量成对数增长。此外,我们概述了在核心协议中两个其他更改后的设计考虑: 使用Skein哈希函数进行挖掘,并利用椭圆曲线数字签名算法(ECDSA)的 X9_prime256v1曲线来确保数字所有权
Category: Economics and Finance

[157] viXra:1707.0354 [pdf] submitted on 2017-07-27 00:56:30

Economic Crisis from Another Perspective

Authors: Chuanli Chen
Comments: 7 Pages.

In this paper, I will mainly discuss about the economic crisis from another view, the view from flow of money.
Category: Economics and Finance

[156] viXra:1707.0133 [pdf] submitted on 2017-07-09 16:28:40

Money Whirling Flow and Keynesian

Authors: Chuanli Chen
Comments: 8 Pages.

In this paper, I will make use of the Keynes theory to describe the money flow in the free market. I will build a new model based on the Keynes’ model. Then I will use the model to explain how the stagnation occur.
Category: Economics and Finance

[155] viXra:1707.0132 [pdf] submitted on 2017-07-09 16:29:33

The Economic Crisis Model Under Whirling Flow of Money

Authors: Chuanli Chen
Comments: 6 Pages.

In this paper, I will briefly discuss about the formation of an economic crisis during the movement of free market. I will describe the whole process in a simple way. To make things more easy to understand, I won’t use any math models, which will only make the process more complex.
Category: Economics and Finance

[154] viXra:1705.0364 [pdf] submitted on 2017-05-25 10:44:59

Price Uncertainty Principle

Authors: Chuanli Chen
Comments: 13 Pages.

In modern economy science, there are many theories that discuss the equilibrium. This convention was originally come from two famous economists Walras and Afred Marshall. Walras firstly finished the general equilibrium theory in 1874 in the book the mere economics to iustice. While Afred Marshall put forward the partial equilibrium in 1920. However, by observance, there was never the evidence for the existence of equilibrium. In this paper, I will put forward a new theory, which is named Price Uncertainty Principle. I will point out the flaws of these two equilibrium theories and discuss why the price mechanism is not the invisible hand, then further discuss why partial equilibrium and general equilibrium are not existent. I will prove that there is no equilibrium point for the price and prices are always fluctuant in the market.
Category: Economics and Finance

[153] viXra:1705.0162 [pdf] submitted on 2017-05-09 21:10:38

Market Whirling Theory

Authors: Chuanli Chen
Comments: 29 Pages.

In modern world there are many theories which explain the economy crisis and economy cyclical changes, however, most of them are not so perfect to explain many phenomenon happened in the history. In this paper, I will put forward a new theory and model that can explain the economy crisis and economy cyclical changes as well as giving policies on how to avoid economy crisis. My paper will analyze the direction of currency flow in the free market and explain why the market is whirling all the time. It will also discuss the relation between money flow speed and GDP, explaining why accelerating the speed of money flow in the market can make a country rich.
Category: Economics and Finance

[152] viXra:1705.0089 [pdf] submitted on 2017-05-03 23:00:35

Quantum Political Economics

Authors: Erman ZENG
Comments: 12 Pages.

The mathematical characterization of “the Productive Force” of a macro economic system is based on Newtonian mechanics and quantum physics, which is expressed as the product of the growth rate of the profit rate (p) and the surplus value (M), showing several quantum qualities similar to the photon. The one-dimensional linear harmonic oscillator model can correlate the angular frequency with the change rate of the rate of profit thus with the economic growth rate, resulting to the quantum-like interpretation of various business cycles. The matrix mechanics analysis of the Leontief input-output table gives the Schrodinger-like value-price transformation eigen-function, with the reduced organic composite of capital as the eigenvalue of the price wave function, leading to the "two Cambridge controversy" resolved.
Category: Economics and Finance

[151] viXra:1704.0297 [pdf] submitted on 2017-04-22 23:07:54

Smart Wheelchair

Authors: Amit singh, Ravi Kumar Gupta, Aishwarya rajak, Harish Chand Pal
Comments: 5 Pages.

Automatic wheelchair for disabled person
Category: Economics and Finance

[150] viXra:1704.0126 [pdf] submitted on 2017-04-11 02:59:06

Quantum Mechanics, Information and Knowledge, All Aspects of Fractal Geometry and Revealed in an Understanding of Marginal Economics.

Authors: Blair D. Macdonald
Comments: 56 Pages.

Fractal geometry is found universally and is said to be one of the best descriptions of our reality – from clouds and trees, to market price behaviour. As a fractal structure emerges – the repeating of a simple rule – it appears to share direct properties familiar to classical economics, including production, consumption, and equilibrium. This paper was an investigation into whether the mathematical principles behind ‘the market’ – known as marginalism – is an aspect or manifestation of a fractal geometry or attractor. Total and marginal areas (assumed to stand for utility) and the cost of production were graphed as the fractal grew and compared to a classical interpretation of diminishing marginal utility theory, and the market supply and demand. PED and PES was also calculated and analysed with respect to (iteration) time and decay. It was found the fractal attractor demonstrates properties and best models classical economic theory and from this it was deduced the market is a fractal attractor phenomenon where all properties are inextricably linked. The fractal, at equilibrium, appears to be a convergent – zeta function – series, able to be described by Fourier analysis, and involves Pi, i, e, 0, and 1 (of Euler’s identity) in one model. It also demonstrated growth, development, evolution and Say’s Law – production before consumption. Insights from the fractal on knowledge and knowing are also revealed, with implications on the question of what exactly is ‘science’ – and what is ‘art’? A connect between reality and quantum mechanics was identified. It was concluded marginal, classical economics is an aspect of a universal fractal geometry.
Category: Economics and Finance

[149] viXra:1703.0201 [pdf] submitted on 2017-03-20 14:27:14

Naive Risk Parity Portfolio with Fractal Estimation of Volatility

Authors: Sergey Kamenshchikov, Ilya Drozdov
Comments: 5 Pages.

A fractal approach to long-only portfolio optimization is proposed. The quantitative system is based on naive risk parity approach. The core of the optimization scheme is a fractal distribution of returns, applied to estimation of the volatility law. Out-of-sample performance data has been represented in ten period of observation with half year and one year horizons. Implementation of fractal estimator of volatility improves all performance metrics of portfolio in comparison to the standard estimator of volatility. The efficiency of fractal estimator plays a significant protective role for the periods of market abnormal volatility and drawdowns, which allows beating the market in the long term perspective. The provided results may be useful for a wide range of quantitative investors, including hedge funds, rob-advisors and retail investors.
Category: Economics and Finance

[148] viXra:1702.0174 [pdf] submitted on 2017-02-14 19:23:54

From Labor Theory of Value to Price EigenFunction ---Microfoundation of General Equilibrium

Authors: Erman ZENG
Comments: 12 Pages.

The quantitative Marxian function system is developed on the basis of the labor theory of value as the micro foundation resulting labour value function, surplus value function, Marx production function. The heterogeneous capital aggregation problem is overcome by value transformation analysis of Leontief intermediate input coefficient matrix leading to production price eigenvectors and Marx-Sraffa-Leontief General Equilibrium eigenvalues thus the details about an economic system such as the reduced organic composite of capital, the rate of profit, the surplus rate of value, the elasticity of capital output. The falling tendency of the rate of profit may not be true if the economy undergoes a general equilibrium.
Category: Economics and Finance

[147] viXra:1702.0056 [pdf] submitted on 2017-02-03 17:50:53

8 Point Executive Summary: Math Stagnations and the Economic Impacts of Mmu1 to End the Math Poverty Multiple Times Faster with Mmu1 Than Without it (Then to Achieve the Post-2015 Goals of the un Multiple Time Faster Than Without Mmu1)

Authors: Dongchan Lee
Comments: 8 Pages. version 6 from February 3, 2017

Highlight summary and solutions by Dongchan Lee with MMU1 for the developed or Latin countries. 1)There have been ongoing math education collapses or stagnations in most English-speaking and Latin American countries. (To see is to believe.) So I provided some data from PISA 2000-2015 and TIMSS 1995-2015 (as these two are basically the Olympics and the World Cup of the largest, international education assessments) as they are standardized & normalized. 2)According to these data of the past 20 years, which is more than enough to show the math EDU stagnations, the chances for the rapid improvements for the next 10-20 years are extremely slim no matter what the MOEs or DOEs of these countries try as these countries have spent normally 5-7% of GDP annually for education and still increasing the costs. 3)In almost all English-speaking or Latin American countries, their gains have been lopsided for the Reading skills much higher than the Math skills, especially compared to the EDU and economic power houses of 5-7 Eastern Asian countries. This has the significant economic impacts. This alone has ½-2/3 of the impacts of the EDU as a whole. 4)Education costs lost for no progress for 15-20 years is on par with the national debt size: 6% of GDP per year x 20 years ~ 120% of the annual real GDP cumulatively (for almost all the English-speaking nations, e.g. the U.S.A.) ~ is on par with the sovereign debts of these nations, and the lost costs will continue increasing over the next 10-20 years and beyond. 5)Even in just 10-15 years alone, after reducing math poverty in 2-4 years with MMU1, the surplus gains are larger than the entire annual national education cost (about 5-6% of GDP). 6)Lee’s mantra: to end the math poverty is to end the poverty: in most OECD nations, math poverty is about 20-30% of the student population. In most Latin America, 50-90% of the student population have the math poverty. They mean the lost economy of dozens of times of the current real GDP (per capita) of almost all OECD (more for Latin American countries).
Category: Economics and Finance

Replacements of recent Submissions

[64] viXra:1909.0128 [pdf] replaced on 2019-09-08 03:39:56

Denial of a Conjectured Experimental Model for Search Fund Study

Authors: Colin James III
Comments: 1 Page. Copyright 2019 by Colin James III All rights reserved. Respond to author by email only: info@cec-services dot com. See updated abstract at ersatz-systems.com.

We evaluate the diagram of the search cycle for percentage of funds in each phase and returns for terminal funds. It is not tautologous, hence denying the conjectured model of the experiment. This forms a non tautologous fragment of the universal logic VŁ4.
Category: Economics and Finance

[63] viXra:1908.0532 [pdf] replaced on 2019-10-25 06:48:41

How to Get Rid of a Debt Based Money System

Authors: Ivo Van Der Rijt
Comments: 10 Pages.

Solution on how to get rid of money.
Category: Economics and Finance

[62] viXra:1908.0532 [pdf] replaced on 2019-10-20 15:07:01

How to Get Rid of a Debt Based Money System

Authors: Ivo Van Der Rijt
Comments: 10 Pages.

Solution on how to get rid of money.
Category: Economics and Finance

[61] viXra:1908.0532 [pdf] replaced on 2019-10-12 04:07:54

How to Get Rid of a Debt Based Money System

Authors: Ivo Van Der Rijt
Comments: 9 Pages.

Solution on how to get rid of money.
Category: Economics and Finance

[60] viXra:1908.0532 [pdf] replaced on 2019-10-11 13:54:45

How to Get Rid of a Debt Based Money System

Authors: Ivo Van Der Rijt
Comments: 9 Pages.

Solution on how to get rid of money.
Category: Economics and Finance

[59] viXra:1908.0532 [pdf] replaced on 2019-09-29 05:37:18

How to Get Rid of a Debt Based Money System

Authors: Ivo Van Der Rijt
Comments: 8 Pages.

Solution on how to get rid of money.
Category: Economics and Finance

[58] viXra:1908.0532 [pdf] replaced on 2019-09-21 13:42:28

How to Get Rid of a Debt Based Money System

Authors: Ivo Van Der Rijt
Comments: 6 Pages.

Solution on how to get rid of money.
Category: Economics and Finance

[57] viXra:1908.0192 [pdf] replaced on 2019-08-11 22:44:03

Krugmanomics Doesn't Check Out

Authors: Miguel A. Sanchez-Rey
Comments: 3 Pages.

Skepticism and long-term prospect.
Category: Economics and Finance

[56] viXra:1811.0439 [pdf] replaced on 2019-04-05 17:47:10

Remark on Seven Applications of Neutrosophic Logic: in Cultural Psychology, Economics Theorizing, Conflict Resolution, Philosophy of Science, Etc.

Authors: Victor Christianto, Florentin Smarandache
Comments: 12 Pages. This paper has been published by J, a multidisciplinary journal. Your comments are welcome

In this short communication, we review seven applications of NFL which we have explored in a number of papers: 1) Background: The purpose of this study is to review on how Neutrosophic Logic can be found useful in a number of diverse areas of interest; 2) Methods: we use logical analysis based on NL; 3) Results: Some fields of study may be found elevated after analyzed by NL theory; and 4) Conclusions: We can expect NL theory can be applied in many areas of research too, both in applied mathematics, economics, and also physics. Hopefully the readers will find a continuing line of thoughts in our research in the last few years.
Category: Economics and Finance

[55] viXra:1807.0258 [pdf] replaced on 2018-07-26 00:11:18

Fifa World Cup and Gini Coefficient

Authors: Anindya Kumar Biswas
Comments: 17 Pages. minor English correction

In this paper we have found empirical evidence of a rising trend of lower Gini coefficient deciding the higher probability of winning of a country in a match in the FIFA World Cup. We have also studied the role of HDI in different stages of the football cup.
Category: Economics and Finance

[54] viXra:1807.0258 [pdf] replaced on 2018-07-24 10:11:40

Fifa World Cup and Gini Coefficient

Authors: Anindya Kumar Biswas
Comments: 17 Pages. expanded

In this paper we have found empirical evidence of a rising trend of lower Gini coefficient deciding the higher probability of winning of a country in a match in the FIFA World Cup. We have also studied the role of HDI in different stages of the football cup.
Category: Economics and Finance

[53] viXra:1807.0258 [pdf] replaced on 2018-07-21 04:30:23

Fifa World Cup and Gini Coefficient

Authors: Anindya Kumar Biswas
Comments: 13 Pages. Round of Sixteen entries for 2018 World Cup corrected

In this paper we have found empirical evidence of a rising trend of lower Gini coefficient deciding the higher probability of winning of a country in a match in the FIFA World Cup. We have also studied the role of HDI in different stages of the football cup.
Category: Economics and Finance

[52] viXra:1807.0258 [pdf] replaced on 2018-07-15 23:15:08

Fifa World Cup and Gini Coefficient

Authors: Anindya Kumar Biswas
Comments: 12 Pages.

In this paper we have found empirical evidence of a rising trend of lower Gini coefficient deciding the higher probability of winning of a country in a match in the FIFA World Cup. We have also studied the role of HDI in different stages of the football cup.
Category: Economics and Finance

[51] viXra:1712.0675 [pdf] replaced on 2018-01-01 18:14:04

The 'future' 2018 Crash of Currencies Followed by an Age of Wars

Authors: Luis Sancho
Comments: 34 Pages. replaced, shorter, clearer, 1st january 2018

The 72 year cycle of global financial crashes is caused by new informative machines that overproduce digital money - stock paper, ticker electric money and e-money. As such they have a short 9 year product cycle of overproduction: 1848-57-64+72 train stock crashes->1921-29-37 electric crashes+72->2001-08-18 e-money crashes. Why 3? Because digital overproduced money is worthless, so speculators change it for the only 3 items of massive 'real value': real stocks, real state and real currency, inflating their price and crashing them:i.e. 1921 pound crash, 29-stocks,37 Ny real state; 2001-dotcom bubble, 2008-mortgages,2018bitcoin&$ then the only way to keep 'selling money' is war debt loans and arsenals of max. price=profit. So after those 3 crashes the world enters in Global war: 1860s-90s civil wars, unification wars, colonial wars fought with trains/steamers, 1936-53 wars fought with electrochemical engines (bombers, tanks). Hence: 2020-50s robotic wars. Problem is as stocks measure reproduction of machines-weapons their value in war age measures 'corpses'. ie. 1860s stocks 2 Dow jones, 700.000 victims train wars->1940s dow at 200, one hundred folding value and victims: 70 million. Now dow at 20 thousand, hence potential victims in robotic wars 7 billion all of mankind. Thus the system of printing money MUST change and be issued for welfare, Butter not Canons... www.economicstruth.com
Category: Economics and Finance

[50] viXra:1710.0068 [pdf] replaced on 2017-11-21 01:18:20

The Determination Theory of Supply and Demand

Authors: Chuanli Chen
Comments: 16 Pages.

Whether the supply creates its own demand or the demand determines the supply has been a debate in economy science since one hundred years. In this paper, I will write my own perspective. I will analyze how the demand and supply interact with each other. Besides, I will tell why there is short of demand in the Say’s law[1].
Category: Economics and Finance

[49] viXra:1710.0068 [pdf] replaced on 2017-10-10 01:28:13

The Determination Theory of Supply and Demand

Authors: Chuanli Chen
Comments: 6 Pages.

Whether the supply creates its own demand or the demand determines the supply has been a debate in economy science for one hundred years. In this paper, I will write my own perspective. I will analyze how the demand and supply interact with each other.
Category: Economics and Finance

[48] viXra:1710.0009 [pdf] replaced on 2018-03-01 11:48:42

Prospects of Modern Wood Gas Cogeneration Renewable Energy Supply in Japan − Case Study of ICU

Authors: Eckhard Hitzer, Mark Langager, Nobyuki Miyazaki, Takashi Kibe
Comments: 8 figures, 1 table, 2.5 pages of references.

In this article we introduce scalable modern commercial wood gas cogeneration technology of micro scale, beginning at 35-45 kW electric power, scalable up to 800kW electric power, as offered by several international companies. Cogeneration means to use both electricity and heat, which leads to an overall efficiency of converting the chemical energy in wood of up to 90%. We discuss aspects of technology, sustainability, forest ecology, local and international fuel quality standards, long term cost efficiency, potential for attracting various forms of official financial support and potential risks involved. In particular we make the general study concrete in the form of a case study on renewable energy supply for the International Christian University campus in Mitaka, western Tokyo. Changing scale parameters in order to adapt to the local energy demand, we expect that this case study can be transferred to other schools, universities, institutions, businesses and buildings in Japan. We further try to address the question as to what contribution this technology can make to the future national renewable energy supply in Japan.
Category: Economics and Finance

[47] viXra:1710.0009 [pdf] replaced on 2017-10-02 08:07:44

Prospects of Modern Wood Gas Cogeneration Renewable Energy Supply in Japan − Case Study of ICU

Authors: Eckhard Hitzer, Mark Langager, Nobyuki Miyazaki, Takashi Kibe
Comments: 8 figures, 1 table, 2.5 pages of references.

In this article we introduce scalable modern commercial wood gas cogeneration technology of micro scale, beginning at 35-45 kW electric power, scalable up to 800kW electric power, as offered by several international companies. Cogeneration means to use both electricity and heat, which leads to an overall efficiency of converting the chemical energy in wood of up to 90%. We discuss aspects of technology, sustainability, forest ecology, local and international fuel quality standards, long term cost efficiency, potential for attracting various forms of official financial support and potential risks involved. In particular we make the general study concrete in the form of a case study on renewable energy supply for the International Christian University campus in Mitaka, western Tokyo. Changing scale parameters in order to adapt to the local energy demand, we expect that this case study can be transferred to other schools, universities, institutions, businesses and buildings in Japan. We further try to address the question as to what contribution this technology can make to the future national renewable energy supply in Japan.
Category: Economics and Finance

[46] viXra:1710.0009 [pdf] replaced on 2017-10-02 05:37:01

Prospects of Modern Wood Gas Cogeneration Renewable Energy Supply in Japan − Case Study of ICU

Authors: Eckhard Hitzer, Mark Langager, Nobyuki Miyazaki, Takashi Kibe
Comments: 8 figures, 1 table, 2.5 pages of references.

In this article we introduce scalable modern commercial wood gas cogeneration technology of micro scale, beginning at 35-45 kW electric power, scalable up to 800kW electric power, as offered by several international companies. Cogeneration means to use both electricity and heat, which leads to an overall efficiency of converting the chemical energy in wood of up to 90%. We discuss aspects of technology, systainability, forest ecology, local and international fuel quality standards, long term cost efficiency, potential for attracting various forms of official financial support and potential risks involved. In particular we make the general study concrete in the form of a case study on renewable energy supply for the International Christian University campus in Mitaka, western Tokyo. Changing scale parameters in order to adapt to the local energy demand, we expect that this case study can be transferred to other schools, universities, institutions, businesses and buildings in Japan. We further try to address the question as to what contribution this technology can make to the future national renewable energy supply in Japan.
Category: Economics and Finance

[45] viXra:1707.0133 [pdf] replaced on 2017-10-14 14:37:52

Money Whirling Flow and Keynesian

Authors: Chuanli Chen
Comments: 8 Pages.

In this paper, I will make use of Keynesian theory to describe the money flow in the free market. I will then build a new model based on the Keynesian model and use this model to explain how stagnation occurs.
Category: Economics and Finance

[44] viXra:1707.0132 [pdf] replaced on 2017-10-14 13:51:39

The Economic Crisis Model Under Whirling Flow of Money

Authors: Chuanli Chen
Comments: 5 Pages.

In this paper, I will briefly discuss the occurrence of an economic crisis during free market movements. I will describe the whole process in a simple way. Non-mathematical models are used in order to make the process easier to understand.
Category: Economics and Finance

[43] viXra:1705.0364 [pdf] replaced on 2017-10-14 16:41:47

Price Uncertainty Principle

Authors: Chuanli Chen
Comments: 22 Pages.

In modern economics, there are many theories that discuss the equilibrium. This convention was originally from two famous economists Leon Walras and Afred Marshall. Walras first described general equilibrium theory in 1874. Afred Marshall put forward the partial equilibrium theory in 1920. However, there was never any observational evidence for the existence of equilibrium. In this paper, I will put forward a new price theory, which is named Price Uncertainty Principle. I will point out the flaws of these two equilibrium theories and discuss why the price mechanism is not the invisible hand, then further discuss why partial equilibrium and general equilibrium are non-existent. I will prove that there is no price equilibrium point and market prices are always fluctuating
Category: Economics and Finance

[42] viXra:1705.0364 [pdf] replaced on 2017-06-30 01:01:01

Price Uncertainty Principle

Authors: Chuanli Chen
Comments: 23 Pages.

In modern economy science, there are many theories that discuss the equilibrium. This convention was originally come from two famous economists Walras and Afred Marshall. Walras firstly finished the general equilibrium theory in 1874 in the book the mere economics to iustice. While Afred Marshall put forward the partial equilibrium in 1920. However, by observance, there was never the evidence for the existence of equilibrium. In this paper, I will put forward a new price theory, which is named Price Uncertainty Principle. I will point out the flaws of these two equilibrium theories and discuss why the price mechanism is not the invisible hand, then further discuss why partial equilibrium and general equilibrium are not existent. I will prove that there is no equilibrium point for the price and prices are always fluctuant in the market.
Category: Economics and Finance

[41] viXra:1705.0162 [pdf] replaced on 2017-10-14 20:04:39

Market Whirling Theory

Authors: Chuanli Chen
Comments: 29 Pages.

Many theories claim to explain economic crises and periodic fluctuations in the economy, however, most of them are imperfect at explaining many phenomena throughout history. In this paper, I put forward a new theory and model that explains economic crises and periodic fluctuations in the economy as well as policies for avoiding economic crises. This paper analyzes the direction of currency flow in the free market, and explains why the market is constantly whirling. It also discusses the relationship between money flow speed and GDP, explaining why accelerating the speed of money flow in the market can make a country rich.
Category: Economics and Finance

[40] viXra:1705.0162 [pdf] replaced on 2017-06-09 01:12:01

Market Whirling Theory

Authors: Chuanli Chen
Comments: 30 Pages.

In the modern world, there are many theories which explain the economic crisis and economy periodic fluctuation, however, most of them are not so perfect to explain many phenomena happened in the history. In this paper, I will put forward a new theory and model that can explain the economic crisis and economy periodic fluctuation as well as giving policies on how to avoid economic crisis. My paper will analyze the direction of currency flow in the free market, and explain why the market is whirling all the time. It will also discuss the relation between money flow speed and GDP, explaining why accelerating the speed of money flow in the market can make a country rich.
Category: Economics and Finance

[39] viXra:1705.0089 [pdf] replaced on 2017-08-19 04:17:04

Quantum Political Economics the Characterization of Productive Forces and Production Relations

Authors: Erman ZENG
Comments: 15 Pages.

The mathematical characterization of “the Productive Forces” of a macro economic system is based upon the analogy between political economy and Newtonian mechanics, which is expressed as the product of the growth rate of the profit rate (p) and the surplus value (M), showing several quantum qualities like a photon quanta. The one-dimensional linear harmonic oscillator model can correlate the angular frequency with the change rate of the rate of profit thus with the economic growth rate, resulting the quantum-like interpretation of various business cycles. The matrix operator analysis of the Leontief’s input-output table, similar to the matrix mechanics of quantum physics, gives the Schrodinger function like value-price transformation eigen function, with the reduced organic composite of capital as the eigenvalue of the price wave function, namely the relations of production, leading to the "two Cambridge controversy" resolved. The statistic physical entropy increase theory combined with the Marx labor value function leads to the quantitative formulation of the relations of production.
Category: Economics and Finance

[38] viXra:1705.0089 [pdf] replaced on 2017-07-03 03:37:18

Quantum Political Economics the Econo-Physical Characterization of Productive Forces and Spontaneous Order

Authors: Erman ZENG
Comments: 15 Pages.

The mathematical physical characterization of “the Productive Forces” of a macro economic system is based upon the analogy between political economy and Newtonian mechanics, which is expressed as the product of the growth rate of the profit rate (p) and the surplus value (M), showing several quantum qualities like a photon quanta. The one-dimensional linear harmonic oscillator model can correlate the angular frequency with the change rate of the rate of profit thus with the economic growth rate, resulting the quantum-like interpretation of various business cycles. The matrix operator analysis of the Leontief’s input-output table, similar to the matrix mechanics of quantum physics, gives the Schrodinger function like value-price transformation eigenequation, with the reduced organic composite of capital as the eigenvalue of the price wave function, leading to the "two Cambridge controversy" resolved. The statistic physical entropy increase theory combined with the Marx production function system leads to the general equilibrium nature of the AK model as well as the quantitative formulation of the theory of spontaneous order.
Category: Economics and Finance

[37] viXra:1702.0174 [pdf] replaced on 2017-03-15 01:14:24

From Labor Theory of Value to Price EigenFunction ---Microfoundation of General Equilibrium

Authors: Erman ZENG
Comments: 12 Pages.

The quantitative Marxian function system is developed on the basis of the labor theory of value as the micro foundation resulting labour value function, surplus value function, Marx production function. The heterogeneous capital aggregation problem is overcome by value transformation analysis of Leontief intermediate input coefficient matrix leading to production price eigenvectors and Marx-Sraffa-Leontief General Equilibrium eigenvalues thus the details about an economic system such as the reduced organic composite of capital, the rate of profit, the surplus rate of value, the elasticity of capital output. The falling tendency of the rate of profit may not be true if the economy undergoes a general equilibrium.
Category: Economics and Finance