This paper introduces crowdfunding as a concept and model for the evolution of investment banking. Crowdfunding, an application of crowdsourcing, is defined as one party’s attempt to finance a project by offering three types of investment opportunities to potential investors. The investment...

Indeed, it has been asserted that the most fundamental resource in the modern economy is knowledge while the most important process of economic development is learning. Therefore, e-commerce is an important contributor to the learning process which shapes economic performance. In fact, it...

We consider two no-show paradoxes, in which a voter obtains a preferable outcome by abstaining from a vote. One arises when the casting of a ballot that ranks a candidate in first causes that candidate to lose the election. The other arises when a ballot that ranks a candidate in last causes...

Projects of the two new railway transalpine tunnel of Frejus and Gothard have similar technical characteristics: an identical length (57 km), a similar cost (10 billion Euros) and the existence of a highway along the same Alpine corridor. But, whilst the new Gothard is now under construction and...