Contrary to claims by Gul and Pesendorfer (2008), I show that standard economics makes use of non-choice evidence in a meaningful way. This is because standard economics solely grounded in the theory of choice is "incomplete". That is, it has content that can not be revealed with any general...

The paper discusses the concept of an economic man in economics and management. The concept of “homo oeconomicus” assumes the full rational behaviour of a deciding man and was applied in classical and neoclassical theories. Based on resent findings of the neuronal, cognitive and behavioural...

Since 1950s, most African nations have gained independence from their colonial powers. Fortunately, independence has brought many changes to these nations and these include multi-party democratic government and western education systems. Unfortunately, the Africa’s economy is the least...

This research article was championed as a way of providing discourses pertaining to the concept of "Critical Realism (CR)" approach, which is amongst many othe forms of competing postmodern philosophical concepts for the engagement of dialogical discourses in the area of established econometric...

In real life, we often encounter markets monopolistic competition. The main characteristic of the market of monopolistic competition is product differentiation. In this paper, we propose to consider Hotelling's "linear city model"

The authors examine the dependence of the tax burden of economic agents on the elasticity of supply and demand. The role of the mathematical model of the coefficient of elasticity in the study of economic processes

The authors consider a method for searching the extremes of the production function using the tools of analytic geometry

The article deals the mathematical model of elasticity ratio of demand and supply functions as well as the application of formalized mathematical models in tax policy