This paper is an attempt to analyze institutional change in the economy synthesizing the original and new methodologies of institutional economics. The concepts of social values, interest groups, and social capital are applied in this context in order to create a theoretical framework based on a...

This paper examines the interactive effect of distance and trade on international conflict and cooperation. The effect of geographic distance depends on trade, while the effect of trade varies with geographic distance. Trade reduces conflict to a greater extent when dyads are geographically...

We discuss a simple model of choices of joint consumption by a working couple who place maintenance of their marriage (relationship) above all else. Any proposal made by one partner seeking to provide maximal utility to the other so as to preserve the marriage, in the case where preferences of...

To answer the question "How to be an Ecological Economist", we must start by defining the field of Ecological Economics. Mainstream Economics altogether lacks the concepts required to deal adequately with nature, justice and time. It was the absence of these three concepts in this otherwise...

In this study, it was found that economists were sensitive to different commodities based on their attitudes in terms of fairness toward the price mechanism, whereas non-economists did not exhibit significant sensitivity. This sensitivity was so strong that no self-selection effect could be...

This paper aims to provide a thorough theoretical formalisation of the ‘slippery slope’ framework in order to highlight the effects and the macroeconomic implications of the dynamics between power and trust. In particular, the proposed model is able to differentiate between coercive and...

The author considers SWFs from the perspective of their changing relations with internal and external stakeholders, and the importance of transparency, accountability and better communication. It discusses how the management of stakeholder relations has become central to the trust in – and...

The need for transition to indefinitely sustainable macro economic production functions and the attendant required evolution of modern portfolio theory are discussed. A new, 'next economy' methodology is proposed to practically apply modern realities to portfolios in meaningful ways. Existing...

Lines in the broader short versus long-term battle have been drawn between various camps: those favoring corporate management versus those favoring shareholder activists; those believing that corporations are best run for the exclusive benefit of shareholders versus those believing that other...

This papers reports some scattered notes on the prisoner's dilemma and on decision theory originated by the reading of Nozick (1993). It aims at highlighting some obscure aspects of decision theory and, in particular, of game theory: excessive abstraction, non-consideration of contexts and...