I argue that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical physics.

The authors propose a new method for estimating the power-law exponents of firm size variables. Their focus is on how to empirically identify a range in which a firm size variable follows a power-law distribution. On the one hand, as is well known a firm size variable follows a power-law...

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 aim of the article is an identification of key sources of an innovative character and their conditioning in contemporary Polish economy. In the discussion, it is stated that consumers - the smallest, but the most numerous economic unit - through their expectations of the way / form of...

Pervasive and ubiquitous oscillations, mapping the repetitive variation in time of a specific state, are well known as abundant phenomena in research and practice. Motivated by the success of oscillators in the modelling, analysis and control of dynamical systems, we developed a related approach...

Financial Reynolds number (Re) has been proven to have the capacity to predict volatility, herd behaviour and nascent bubble in any stock market (bourse) across the geographical boundaries. This study examines forty two bourses (representing same number of countries) for the evidence of the...

In this paper the author shows that signed temporal changes of firm size variables follow the power-law for large changes; while, for middle changes a log-normal distribution is found. In the analyses, the author employed three databases: highincome data, high-sales data and positive-profits...

In this paper we develop a well-established financial model to investigate whether bubbles were present in opinion polls and betting markets prior to the UK's vote on EU membership on 23 June 2016. The importance of our contribution is threefold. Firstly, our continuous-time model allows for...

This study assesses how the coronavirus pandemic (COVID-19) affects the intraday multifractal properties of eight European stock markets by using five-minute index data ranging from 1 January 2020 to 23 March 2020. The Hurst exponents are calculated by applying multifractal detrended fluctuation...