E-commerce as an aggregation of activities concerning trading and rendering service to customers using internet is important for firms of all size to preserve competitiveness in global markets However, introduction of e-commerce means also introduction of new business models. To incorporate new...

A novel decision theory is emerging out of sparse findings in economics, mathematics and, most importantly, psychology and computational cognitive science. It rejects a fundamental assumption of the theory of rational decision-making, namely, that uncertain belief rests on independent assessment...

This paper extends the standard overlapping generations model of capital accumulation by introducing consumption externalities. It is assumed that each generation's felicity depends on the social level of benchmark consumption as well as on its own consumption. Since the benchmark consumption is...

This paper discusses a new growth mode, a country with a dual economic structure in which each economic sector will receive different government policies such as financial and fiscal policies. Firstly It obtains the economic growth rate and the growth rate of per capita output in the balanced...

This paper demonstrates that preference structure may play a pivotal role in generating indeterminacy in the stylized model of endogenous growth. By examining two-sector models of endogenous growth with human capital formation, we show that if the utility function of the representative family is...

This paper provides an econometric estimation of the influence of individual social-economic, natural, and technological determinants of the credit provision for the agriculture in the case of the Czech Republic. The regression model is based on the microeconomic model of the maximization of the...

This note discusses a pitfall of using the generalized impulse response function (GIRF) in vector autoregressive (VAR) models (Pesaran and Shin, 1998). The GIRF is general because it is invariant to the ordering of the variables in the VAR. The GIRF, in fact, is extreme because it yields a set...

Since the second half of the past century, increasingly flexible organizational forms are appearing among firms. However, while hierarchies are easily described, too few mathematical tools are available for flexible organizations. In this article, two Lyapunov functions are proposed in order to...

This paper aims to study the interaction between the control of corruption, investment and economic growth in the MENA region. Our empirical essay attempts to clarify the direct and indirect control of corruption on economic growth through investment in the period 1984-2012 in the MENA region...

We introduce a topic in the intersection of symbolic mathematics and computation, concerning topics in multivariable Optimization and Dynamic Analysis. Our computational approach gives emphasis to mathematical methodology and aims at both symbolic and numerical results as implemented by a...