The economics of organizations plays on a double board: institutional and behavioral. The approaches remain little unified, while referring mostly to a notion of limited rationality which does not maybe play really the federative role of the theories of the organization for which we could wait....

Standard models imply that the wage-elasticity of labor supply is more negative the longer a wage change lasts. I observe decreasing daily hours during short-term wage increases, but not during a long-term one: daily income goals adjusted in the long-term.

This study presents a reference-dependent Hotelling model for analyzing airline competition in pricing and green transportation investment, as well as the resulting financial performance under the European Union emission trading scheme. One feature of the proposed methodology is that it embeds...

The theory of classical economics treats entrepreneurs as subjects who make rational economic decisions. Empirical surveys prove the fact that daily economic decisions made by a separate economic entity can be explained by concepts of behavioral economics rather than classical economics. The...

Can people be relied upon to be nice to each other? Thomas Hobbes famously did not think so, but his view that rational cooperation does not require that people be nice has never been popular. The debate has continued to simmer since Joseph Butler took up the Hobbist gauntlet in 1725. This...

According to the endowment effect there is some discomfort associated with giving up a good, that is to say, we are willing to give up something only if the price is greater than the price we are willing to pay for it. This implies that the indifference curves should designate a reference point...

Purpose – The purpose of this paper is to analyze whether key investor information documents (KIDs) provided by suppliers/issuers help retail investors to understand the key characteristics of financial products. KIDs are fact sheets composed to describe the characteristics of financial...

The article is an immanent critique of mainstream microeconomics, particularly of its treatment of time. In support of that, a behavioral microeconomic paradigm is formulated. The article includes an analysis of sets of transactions that require positive time intervals for their completion such...

I develop a model of conspicuous consumption to empirically measure the importance of peer beliefs to Americans and Chinese. In the model, a consumer cares not only about the direct utility she receives from consumption, but also about the way her consumption pattern affects her peer group's...