Increasing localisation represents one of the most spectacular processes of the economies that develop and transform as a result of globalisation processes: while the (relative) importance of national economies is decreasing, the economic role of regions and cities seems to grow. Global competition has intensified also in space, especially with the growing importance of the knowledge-based econ...

The paper discusses economic policy of Georgia aiming to increase national competitiveness as well as the tools and means which will help to improve the competitiveness of the country. The sectors of the economy, in which the country can achieve the competitive advantage, are studied. It is noted that the country’s economic policy plays an important role in obtaining and maintaining the competi...

Behavioral economists increasingly argue that violations of rationality axioms provide a new rationale for paternalism – to “de-bias” individuals who exhibit errors, biases and other allegedly pathological psychological regularities associated with Tversky and Kahneman’s (in Science 185:1124–1131, 1974) heuristics-and-biases program. The argument is flawed, however, in neglecting to distinguish...

Seeing-perception and vision-is implicitly the fundamental building block of the literature on rationality and cognition. Herbert Simon and Daniel Kahneman's arguments against the omniscience of economic agents-and the concept of bounded rationality-depend critically on a particular view of the nature of perception and vision. We propose that this framework of rationality merely replaces econom...

Abstract ‘Reductive Evidentialism’ seeks to explain away all ‘structural’ requirements of rationality—including norms logical coherence—in terms ‘substantive’ rationality, i.e., responsiveness evidence. While this view constitutes a novel take on the source normativity logic, I argue that it faces serious difficulties. My argument, in nutshell, is assumption individuals with same evidence can h...

The Competitiveness of Thailand: Economic Analysis from Competitiveness Reports An important question for researchers and policy markers is how to efficiently allocate limited resources for sustainable economic growth. In this paper, Global Competitiveness Reports of the World Economic Forum (WEF) and the World Competitiveness Yearbooks of the International Institute for Management Development ...

The study of mechanism design is sometimes criticized, because the designed mechanisms depend on the fine detail of the model specification, and agents’ behavior relies on the strong common knowledge assumptions on their rationality and others. Hence, the study of ‘detail-free’ mechanism design with weak informational assumptions is the most important to make as the first step towards a practic...

Sacrifice of animals at Eid-ul-Azha is a religious obligation which is performed with great religious fervour throughout the Islamic world each year. Some of the scholars argue that instead of sacrificing the animals, equal intended value in cash, among the poor may be distributed. This paper attempted to analyze this argument and found that distribution of alms in lieu of sacrifice has negligi...

Economic theory reduces the concept of rationality to internal consistency. As far as beliefs are concerned, rationality is equated with having a prior belief over a “Grand State Space”, describing all possible sources of uncertainties. We argue that this notion is too weak in some senses and too strong in others. It is too weak because it does not distinguish between rational and irrational be...

Economic theory reduces the concept of rationality to internal consistency. As far as beliefs are concerned, rationality is equated with having a prior belief over a “Grand State Space”, describing all possible sources of uncertainties. We argue that this notion is too weak in some senses and too strong in others. It is too weak because it does not distinguish between rational and irrational be...