We provide a method to measure welfare, in money-metric terms, taking into account expectations about the future. Our two key assumptions are that (1) the expenditure function is separable between the present and the future, and (2) there are some households that do not face idiosyncratic...

This paper introduces four different focuses for microeconomics and macroeconomics that are based on the uses of multidimensional graphical modeling and multidimensional mathematical modeling. The main objective of this paper is to present some classic economic theoretical approaches such as the...

Agent-based computational economics (ACE) is the computational study of economies modeled as evolving systems of autonomous interacting agents. Thus, ACE is a specialization to economics of the basic complex adaptive systems paradigm. This study outlines the main objectives and defining...

Agent-based computational economics (ACE) is the computational study of economies modeled as evolving systems of autonomous interacting agents. Thus, ACE is a specialization to economics of the basic complex adaptive systems paradigm. This study outlines the main objectives and defining...

What drives poverty? We propose a research approach to study poverty by focusing on individual decision-making behavior in which the interaction between individual's innovativeness and time preference rate is crucial to begin understanding poverty. This approach enables policy makers to...

This paper tries to introduce a new macroeconomic indicator is called “Desgrowth Domestic Product (DDP).” This hybrid and holistic macroeconomic indicator include qualitative and quantitative variables in its calculation. The main objective is to propose a new and alternative macroeconomic...

This paper explores the impact of excessive borrowing on economic stability, arguing that while debt can provide short-term benefits, it can lead to long-term financial distress and even economic collapse. The paper examines the benefits of debt, such as providing access to capital and managing...

This paper develops a foundation for a consumer's preference for data privacy by linking it to the desire to hide behavioral vulnerabilities. Data sharing with digital platforms enhances the matching efficiency for standard consumption goods, but also exposes individuals with self-control issues...

This paper introduces a new way to calculate and represent graphically a large number of elasticities of demand and supply behaviors from a multidimensional perspective. The main objective of this paper is to represent a large number of elasticities of demand and supply that are interacting...

Prominent economic theories have emphasized the role of commonly held perceptions and expectations for determining macroeconomic outcomes. A key empirical question is how such collectively held beliefs are formed. We use the FIFA World Cup 2006 as a natural experiment. We provide direct evidence...