This paper aims to contribute to the growing literature on the causes of consumer bankruptcy. It presents the consumer bankruptcy decision as an irreversible choice that has an embedded real option value. This allows the use of a well known framework for the study of decision making under uncertainty. The principal empirical finding is that cross-sectional variances of economic factors, such as...

A number of different models with behavioral economics have a reduced form representation where potentially boundedly rational decision-makers do not necessarily internalize all the consequences of their actions on payoff relevant features (which we label as psychological states) of the choice environment. This paper studies the restrictions that such behavioral models impose on choice data and...

We ask which economic policies can help a country create the most favourable conditions for development. We observe that the dynamics of several development indicators can be grouped into four clusters, each cluster corresponding to a different combination of growth and changes in inequality. Based on this observation, we define four different development scenarios and use limited dependent var...

The hypothesis that individuals try to maximize their life-satisfaction is analyzed. The approach was to derive empirically testable predictions as to the relationships between intentions, actions, importance weights, and satisfaction levels that would be consistent with the hypothesis, and to test these predictions on a Russian and a German panel data set. The respondents investigated were mor...

F o r m I (underwound families irradiated with fission neutrons at 32OC (in T E buffer) followed the expected expotential dependence on dose. The radiation sensitivity was found to be linearly related t o the average DNA linking difference (DL) with larger DL associated with enhanced r a d i a t i o n sensitivity. WR-33278, a radioprotector, is s h o w n t o s t i m u l a t e e u k a r y o t i ...

The pandemic of COVID-19 predicts can create a global economic crisis include Indonesia. This paper aimed to answer the first question: how transmission process from became an crisis; Second, what macroeconomic policies should take recover pandemic; third, non-economic measures must consider confirming achieved its target. Using 32 references in literature review process, we tried find out answ...

Welfare effect of tariff for a small country in the case of traditional tariff (exogenous) compared to free trade would decrease the welfare of the country. This paper has shown that the welfare effect of tariff in case of untraditional tariff (endogenous) can be explained by using the specific factors models (Jones) that fundamentally determined by Cournut- Nash Equilibrium system in contrary ...