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Topic Review
Mathematical Economics
Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics. Often, these applied methods are beyond simple geometry, and may include differential and integral calculus, difference and differential equations, matrix algebra, mathematical programming, or other computational methods. Proponents of this approach claim that it allows the formulation of theoretical relationships with rigor, generality, and simplicity. Mathematics allows economists to form meaningful, testable propositions about wide-ranging and complex subjects which could less easily be expressed informally. Further, the language of mathematics allows economists to make specific, positive claims about controversial or contentious subjects that would be impossible without mathematics. Much of economic theory is currently presented in terms of mathematical economic models, a set of stylized and simplified mathematical relationships asserted to clarify assumptions and implications. Formal economic modeling began in the 19th century with the use of differential calculus to represent and explain economic behavior, such as utility maximization, an early economic application of mathematical optimization. Economics became more mathematical as a discipline throughout the first half of the 20th century, but introduction of new and generalized techniques in the period around the Second World War, as in game theory, would greatly broaden the use of mathematical formulations in economics. This rapid systematizing of economics alarmed critics of the discipline as well as some noted economists. John Maynard Keynes, Robert Heilbroner, Friedrich Hayek and others have criticized the broad use of mathematical models for human behavior, arguing that some human choices are irreducible to mathematics.
  • 1.7K
  • 31 Oct 2022
Topic Review
Blockchain Technology and Tokenization
Blockchain is an open-source technology that excludes the traditional third parties by relying on collective verification, thus offering a great alternative in terms of costs, traceability, security, and speed. When two financial entities such as banks receive a request to transfer money from one account to another, they have to update the balances of their respective customers. This costly and time-consuming coordination and synchronization exercise can be simplified on a blockchain by using a single ledger of transactions reflecting a single version of records instead of two different databases. Blockchain technology offers a myriad of value through a frictionless process of immutable and transparent records and through converting assets into digital tokens (i.e., tokenization) with smart contracts. 
  • 1.6K
  • 01 Jun 2021
Topic Review
First-Price Sealed-Bid Auction
A first-price sealed-bid auction (FPSBA) is a common type of auction. It is also known as blind auction. In this type of auction, all bidders simultaneously submit sealed bids, so that no bidder knows the bid of any other participant. The highest bidder pays the price they submitted.:p2
  • 1.6K
  • 01 Dec 2022
Topic Review
Bank Diversification and Firm Investment Decisions
Firms are financially constrained as well as there being a positive relationship between cash flow and investment among listed firms. Additionally, bank diversification significantly reduces the investment-cash flow sensitivity of firms, suggesting that bank diversification mitigates the financial constraints to borrowing firms. Moreover, the multi-diversification of a bank compared to single-diversification will have greater impact on mitigating the firms’ financial constraints on investment. Thus, bank diversification strategies are proposed in a bank-based financial system, leading to the easing of the borrowing firms’ financial constraints to investments.
  • 1.6K
  • 14 Oct 2022
Topic Review
Compass Card (TransLink)
The Compass Card is a contactless smart card payment system primarily used for public transit in Metro Vancouver, British Columbia, Canada. It is operated by TransLink. Riders purchase a Compass Card and add fare value online, by phone, or at vending machines located at SeaBus terminals, SkyTrain and West Coast Express stations. Vending machines are also available at 18 participating London Drugs retail store locations. Compass Cards were deployed in August 2015. Full deployment for the general public took place on November 2, 2015. Since April 4, 2016, Compass Cards and Tickets have been required for all trips taken on the SkyTrain, SeaBus, and West Coast Express. In June 2016, TransLink reported that 100 percent of monthly pass users and 95 percent of all other users have switched over to the new format, totalling more than 915,000 customers.
  • 1.6K
  • 14 Oct 2022
Topic Review
Digital Village Technology Architecture System
A digital village is the process of using information technology and digital technology to make targeted transformations, based on the needs and characteristics of the village, and ultimately to achieve a change in the development model of the village. The digital village technology architecture system constructed herein is divided into four levels: infrastructure system, village brain, application support system and application service system. 
  • 1.6K
  • 23 Nov 2022
Topic Review
Consumer Reselling
Since e-commerce has revitalized recently in the form of live commerce and Instagram shopping, both purchase and sales have become promoted among consumers while reselling has been facilitated in second-hand item markets and among consumers. Particularly, the new trend of consuming products, rather than merely owning products, has become a mainstream factor in the market. Accordingly, consumers show extraordinary consumption, focusing on the act of purchasing limited edition products of high scarcity and placing more importance on one-off experience rather than ordinary new products or premium products. It was verified that the need for joining was the most critical factor facilitating consumers' reselling of limited edition products. 
  • 1.6K
  • 26 Oct 2020
Topic Review
Conceptualization of the Migration Phenomenon
The migration process has become particularly important for Romania in the last 20 years, and its socio-economic, political and cultural effects affect the Romanian state. That is why flexible policies are needed in order to be coherent, to have as main purpose keeping specialists in the country in certain basic economic fields, as well to implement measures to determine the return of specialists and students who have left to study abroad.
  • 1.6K
  • 14 Apr 2022
Topic Review
Environmental Performance Index
The Environmental Performance Index (EPI) developed by Yale University is regarded as an all-inclusive proxy to examine the country’s environmental conditions. Ozturk et al. also argued that CO2 emissions only cover a small part of the total environmental pollution. The recently revised EPI of 2020 comprises 32 performance indicators across 11 issue categories. It ranks countries under two domains, environmental health and ecosystem vitality, which demonstrate the environmental pollution impacts on human health and also the effects that ensue on the ecosystem through environmental pollution. The Environmental Health Index (HLT) measures the quality of air, water, and exposure to heavy metals. The Ecosystem Vitality Index (ECO) considers issues such as climate change and biodiversity. 
  • 1.6K
  • 16 Sep 2021
Topic Review
Entrepreneurship Education Programs
Entrepreneurship education (EE) is par excellence a field for advancing and developing societies, a trigger for economic growth, social cohesion, organizational success, and personal fulfillment.
  • 1.6K
  • 12 Aug 2021
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