This paper provides an overview of the work of Herbert Simon and his ideas about rational decision making. By his own standards, Simon is an economist who works in the tradition of Adam Smith and Alfred Marshall. The central theme in Simon’s research is how human beings organize themselves in...

The most important financial source for behavioral economics is the Russell Sage Foundation (RSF). The most prominent behavioral economists among the RSF’s twenty-six member Behavioral Economics Roundtable (BER) are Kahneman, Tversky, Thaler, Camerer, Loewenstein, Rabin, and Laibson. The...

See the article in <I>Mathematics and Computers in Simulation (MATCOM)</I> (2013), Volume 93(C), pages 190-197.<P> This paper examines the issue of coercive journal self citations and the practical usefulness of two recent journal performance metrics, namely the Eigenfactor score, which may be interpreted...</p></i>

In many business transactions, in labor-management relations, in internationalconflicts, and welfare state reforms bargainers hold strong entitlements that are oftengenerated by claims that are not feasible any more. These entitlements seem to considerablyshape negotiation behavior. By using the...

From the viewpoint of the independence axiom of expected utility theory, an interesting empirical dynamic choice problem involves the presence of a “global risk,” that is, a chance of losing everything whichever safe or risky option is chosen. In this experimental study, participants have to...

This paper investigates and tests empirically the relationship between military expenditure, civil wars and economic performance in the Democratic Republic of Congo (DR Congo). Romer – Taylor model is estimated. The Econometric estimates show that there is a positive effect of military...

In this paper, we investigated the role of socio-economic factors like income, unemployment levels, and non-economic factors such as religion, identity and culture to explain the reasons for disparity of happiness levels among Turkish and Moroccan immigrants in the Netherlands by applying a...

The paper covers the significance of Lingua franca not only as a language of intercultural communications, but also as a necessary component of the adequate satisfaction of fundamental human needs and of the prevention of socio-economic pathologies. It is stressed in the paper that the...

This paper introduces a new financial metric for the art market. The metric, which we call Artistic Power Value (APV), is based on the price per unit of area (dollars per square centimeter) and is applicable to two-dimensional art objects such as paintings. In addition to its intuitive appeal...

The authors examine the features and applications of the balance of economic and mathematical models