Many results in stochastic analysis and mathematical finance involve local martingales. However, specific examples of strict local martingales are rare and analytically often rather unhandy. We study local martingales that follow a given deterministic function up to a random time γ at which...

Objective – The objective of this paper is to unfold the nature of excessive behavior in the Islamic economics framework.Methodology/Technique – This is a library research based on the various studies that specifically discuss excessive behavior and Islamic consumer behavior. The study uses...

Winner's percentage, a common measure of electoral competition in winner-take-all elections, measures the shift in vote shares required to produce changes in election outcome. Thus, winner's percentage of the vote cast is a logical measure of winner-take-all competition. It treats equally shifts...

This book profiles the lives and ideas of some of the leading thinkers on individual liberty - from ancient times to the present day - and sheds light on the key elements of liberal thought and those who shaped it across the centuries. The book identifies their common goals, but also highlights...

This paper studies the balance constraint (debit=credit) in bookkeeping, its causes and its consequences for accounting. Balance in the ledger is shown to: 1) imply balance in journal entries and vice versa; 2) link the value definitions in the earnings statement and balance sheet; 3) have direct...

This paper develops a new methodology in order to study the role of dynamic expectations. Neither reference-point theories nor feedback models are sufficient to describe human expectations in a dynamic market environment. We use an interdisciplinary approach and demonstrate that expectations of...

The article develops a complex interdisciplinary paradigm, or rather a multiparadigm of bioeconomics, exemplifying the necessary role and the broader horizon of multidisciplinarity through bioeconophysics, in the context of (bio)diversity and modern morality, in a logically investigative and...

Agent-based modeling is a promising tool for studying emergent macro-phenomena from micro-level mechanisms. We propose a methodology for converting theories about social change into mathematical agent-based models. These models are then analyzed to identify specific relationships between macro...

“Ordonomics” is a research program that has been developed at the Chair of Economic Ethics at Martin Luther University Halle-Wittenberg. It holds that business actors (persons and organizations) can employ morality as a “factor of production”, and that business ethics can be based on a...

This article examines Adam Smith's Theory of moral sentiments. Taking as its point of departure the moral philosophy of the Scottish enlightenment, the paper presents the central argument of Smith's Theory. It analyses the concepts of "sympathy" and "impartial spectator" and points to the...