Theoretical and Applied Economics
No. 3 / 2023 (636), Autumn
The economics and evolution of heroic behavior
Radford University, USA
Abstract. This study uses a simulation model to explore the causes of ‘extreme civil heroism’: risking one’s life to help a stranger. The model uses a mixture of traditional economic thinking (based on rational self-interest) and human behavioral ecology (based on natural selection). Simulated agents choose between two competing communities (one with heroism and one without) by maximizing expected utility. Which community thrives is observed. Labor productivity, risk tolerance, perspectives on death, emergency response training and accident probability are analyzed as drivers of heroic community success. A preliminary assessment of the model is conducted using data from Eastern Europe. Avenues for future research are described.
Contents
The economics and evolution of heroic behavior
Financial contagion and identifying speculative frenzies: Unraveling price bubbles in cryptocurrency markets
Comparative study on the legislative framework for attracting FDI in Romania
Macroeconomic determinants of economic growth. An international perspective
Analysing the interrelationship between Bitcoin price and it’s energy consumption
Comparative study on the global performance of companies with foreign capital and those with Romanian capital
A proposal for modified human development index for BRICS countries. A holistic approach towards sustainable human development
The effect of overconfidence behaviour on stock market volatility in Belgium
The impact of the economic policy uncertainty and geopolitical risks on tourism demand of Mexico
Credit, housing prices, expectations, and the macroeconomy. Evidence from developed and developing countries
The role of the education of hospital managers in a high-performing health system – prerequisites for the unique national standardized program in health management and medical leadership
Competition policies and legislation regarding the European-Asian economic corridors
Modern leadership communication and strategic lobbying
Determinants of foreign capital inflows. The role of push versus pull factors
A revolutionary journey: Business development through digitalization
Are stock markets of emerging economies informationally efficient? Causal analysis of stock prices and macroeconomic variables of EM7 economies for the recent decade
The nexus of foreign trade and economic growth in Tanzania. Examining the influence of COVID-19 pandemic. Evidence from vector error correction model
The impact of management accounting practices: Comparative analysis study between Jordan and Romania
The economic vision of artificial intelligence's (AI) efficiency
Impact of FDI and energy consumption on the agricultural productivity of BRICS nations
Re-visiting exchange rate volatility – risk perception relation. New evidence from Fourier tests
The impact of globalization on labour market specially focusing on wage inequality and job displacement. A theoretical analysis