Opinion of geological experts is often formed despite a paucity of data and is usually based
on prior experience. In such situations humans employ heuristics (rules of thumb) to aid …

Individuals can learn by interacting with the environment and experiencing a difference
between predicted and obtained outcomes (prediction error). However, many species also …

Typically, modern economics has steered away from the analysis of sociological and
psychological factors and has focused on narrow behavioural assumptions in which …

The growth of electronic commerce is dependent upon the emergence of effective electronic
payment systems. Whilst payments for large purchases can be made relatively easily using …

Investment provides an examination of the key macroeconomic theories which underpin
fixed asset investment. It would make ideal reading for an intermediate level …

Behavioural economics and behavioural finance are rapidly expanding fields that are
continually growing in prominence. While orthodox economic models are built upon …

The focus of this paper is to investigate the importance of the capital stock in the
determination of wages and unemployment in a range of EMU countries and to compare the …

Traditionally, economists have based their economic predictions on the assumption that
humans are super-rational creatures, using the information we are given efficiently and …

Hoarding is a well-established phenomenon in economics, often explored in the context of
savings, financial speculation and employment. Conventional economic models of hoarding …

Like other species, humans are sensitive to the decisions and actions of conspecifics, which
can lead to herd behavior and undesirable outcomes such as stock market bubbles and …