Since its launch in 2009 much has been written about Bitcoin, cryptocurrenciesand blockchains. While the discussions initially took place mostly on blogs and otherpopular media, we now are witnessing the emergence of a growing body of rigorousacademic research on these topics. By the nature of...

George Soros is one of the best traders of all time. That is the general consensus. While Soros gladly accepts that compliment he frequently also expressed his frustration that he failed as a philosopher. Specifically, he admits that he was unable to formulate his philosophy of reflexivity from...

This article frames environmentally sound innovation in the context of transnational network theory with the goal of setting forth a preliminary framework for international legal policy coherence. I consider how network dynamics can facilitate broad diffusion of environmentally sound...

During the previous time of producing oil and gas in gulf area, so much of complicated relationship between producers and consumers happened. Mostly the winners were the powerful team. This article discusses one side of the political and economical side of the relationship and how the conflict...

The author presents a brief classroom demonstration illustrating Bertrand price undercutting. The demonstration is appropriate for micro principles and intermediate- and upper-level undergraduate classes, as well as graduate classes in micro, industrial organization, and game theory.

Sustainable energy systems of the future will need more than efficient, clean, low-cost, renewable energy sources; they will also need efficient price signals that motivate sustainable energy consumption as well as a better real-time alignment of energy demand and supply. The Power Trading Agent...

Mercantilism was the dominant current of economic thinking and practice during the 16th, 17th, and 18th centuries till the emergence of physiocracy. The scientific discoveries in Europe helped the development of mercantilism in many ways. Discovery of new world provided them with new market and...

A parsimonious theoretical model of second degree price discrimination suggests that the business cycle will affect the degree to which firms are able to price-discriminate between different consumer types. We analyze price dispersion in the airline industry to assess how price discrimination...

Die Theorie des Wettbewerbs als Entdeckungsverfahren behauptet, daß die Ergebnisse des Wettbewerbes nicht vorhergesagt werden können, weil hierzu Tatsachen benötigt würden, die durch ihn erst entdeckt werden sollen. Dann wäre es allerdings unmöglich, Aussagen über Wettbewerb empirisch zu...

The effect of labour costs on industry profits, employment and labour income is at the heart of the current European debate on industry competitiveness. High wages paid in European countries such as Germany are generally considered harmful for industry profitability. Though, high wages appear...