We introduce a closed form behavioural stochastic Arrow-Pratt risk process, decomposed into discrete asymmetric risk seeking and risk averse components that run on different local times in ϵ-disks centered at risk free states. Additionally, we embed Arrow-Pratt (“AP”) risk measure in a...

Each system owns different resources which need to be prioritized for bringing economic equilibrium in the society. This study identifies equilibrium in economic development and its relationship with social capital. Inter temporal accumulation of social capital of certain quantum takes place...