The seminal work of Fudenberg and Tirole (1985) on how preemption erodes the value of an option to wait raises general questions about the relation between models in discrete and continuous time and thus about the interpretation of its central result, relying on an "infinitely fine grid". Here...

The purpose of this paper is to explain the main social and economic facts concerning obesity in a way that substantially improves upon existing economic theory. In contrast to existing theory, a number of recent health science writers have explained persuasively that weight gain or loss is not...

The economic theories taking into consideration human behavior and based on the achievements of psychology, sociology, anthropology have been evolving at a blistering pace over the last decade. Owing to that, the behavioral finance has become one of the fastest developing academic areas focused...