In this paper, we defend the idea of the potential existence of equilibrium in personal income distribution in Germany. This concept can be motivated by two different approaches: One is a status theory put forward by Gerold Blümle, the other is a sort of hybrid variant of the prospect theory,...

In this paper, we defend the idea of the potential existence of equilibrium in personal income distribution in Germany. This concept can be motivated by two different approaches: One is a status theory put forward by Gerold Blümle, the other is a sort of hybrid variant of the prospect theory,...

In general, rational economic agents trade off the cost of waiting for the statistical agencies disseminate the final results of the relevant surveys before making a decision, on the one hand, and of making use of some model based predictions. Thus, from the viewpoint of agents, predictions and...

In general, rational economic agents are not in the position to wait for the statistical agencies disseminate the final results of the relevant surveys before making a decision, and have to make use of some model based predictions, even when agents are not assumedly forward looking. Thus, from...

In this paper, we defend the idea of the potential existence of equilibrium in personal income distribution in Germany. This concept can be motivated by two different approaches: One is a status theory put forward by Gerold Blümle, the other is a sort of hybrid variant of the prospect theory,...

Of all central and eastern European countries, Romania is considered to be the one which enjoys the richest and most varied natural and antropic touristic resources, and this aspect confers a great potential for the development of tourism. The economical, social, and political context of the...