Survival analysis or duration modelling is a widely applied statistical method for estimating the expected time until a specific event of interest occurs.

The Kaldor-Pasinetti equation has a much deeper meaning than is commonly believed. It describes the fair distribution of total income between capitalists and workers.

New Institutional Economics is a field of economics which expands the neoclassical concept. Its main representatives are Ronald Coase and Oliver Williamson. In 1937 Ronald Coase describes the firm as a result of relationships which arise when the role of the market is undertaken by the manager-entrepreneur.

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.

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.