There are many market anomalies observed in financial markets that efficient-market hypothesis (EMH) and standard asset-pricing models cannot explain.

Individual rationality is a model of personal choice behaviour, whoever he or she may be. It sets out from a perspective on life as a decision between action or no action, i.e.

The COVID-19 pandemic is accelerating changes underway since the global financial crisis (GFC) in 2008. It is ushering in a new era of deglobalisation and protectionism — a new mercantilist world order.

Central banking is familiar to most people, at least on a practical level, as the monetary system of their country. A central bank is a monetary authority that has discretionary monopoly control of the supply of the reserves of commercial banks.

Market failures represent the inability of the market to allocate resources optimally. In the absence of transaction costs optimal allocation would be at the Pareto optimum, that is, where supply and demand meet.

The issues, which Uzawa (1961, 1963) examined, emerged as an extension of the seminal Solow-Swan neoclassical growth model.

Price discrimination is a practice used by firms with monopoly power, monopolies or oligopolies. This is because consumers in monopolistic markets have no choice but to buy from the monopolist.

The idea of market efficiency is used to describe a market in which relevant information is rapidly incorporated into the asset prices so that investors cannot expect to earn abnormal profits from their investment strategies.

Many people use the word 'productivity' because it is a household word. However, for different people it means different things. The definition of productivity is complex and it has been defined in a number of ways, but all have in common the feature of relating an output measure to an

Don't miss the opportunity to freely read hundreds of Books released as open access, along with newly published Books.