Using Rawls's theory of justice, this paper addresses the empirical question of whether the socially responsible market economy can help explain the current situation in financial freedom, as well as its recent variation across countries. Utilizing annual data from selected countries of Middle East, North Africa, Asia and Oceania, and static panel estimation techniques, we provide evidence whic...

The complexity of financial matters and the financial illiteracy of clients prevents informed financial decision making in current financial advisory services. We propose a novel approach to improve this situation: The advisor integrates small learning episodes directly into the service encounter. These learning episodes are implemented using the concept of explorative learning and "microworlds...

We explore the determinants of debt and growth in debt at the individual and household level. The focus is on the influence of expectations of individuals and households regarding their future financial situation. Our theoretical model predicts a positive association between the quantity of debt and optimism. The empirical findings provide convincing support for our theoretical priors in that o...

This paper discusses the use of fuzzy logic and modeling as a decision making support for long-term investment decisions on financial markets. A simple model is proposed to calculate recommendations for the investors. This research required thorough analysis of historical data that lead to discovery of interesting dependencies between the Dow Jones index, currency pairs, oil price and the VIX v...