Charakteristisch für entwickelte Marktwirtschaften ist ihre ausgeprägte Fähigkeit zur Flexibilität. Angetrieben durch Konsumentenbedürfnisse und Produktinnovationen ändern sich permanent sowohl die verfügbaren Güter als auch die Struktur der Marktteilnehmer. Wettbewerblich organisierte...

"The non-tradability of human capital is often cited for the failure of traditional asset pricing theory to explain agents' portfolio holdings. In this paper we argue that the opposite might be true --- traditional models might not be able to explain agent portfolio holdings because they do not...

Transition was never going to be easy, even with the highly promising long-run outlook. Not only was the process itself a major theoretical and policy challenge, but politics and economics were bound to interfere. And yet, with some spectacular exceptions, most countries are now on the right track

This book brings together experts from four continents (Asia, North America, Europe, Africa) and from varied disciplines to discuss a spectrum of problems created by globalization, such as the economic and financial, environmental, legal, cultural, socio-economic and social media impacts. The...