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This paper aims to give a brief review on behavioral economics and behavioral finance and discusses some of the previous research on agents' utility functions, applicable risk measures, diversification strategies and portfolio optimization.

The authors also cover related disciplines such as trading rules, contagion and various econometric aspects.

While scholars could first develop theoretical models in behavioral economics and behavioral finance, they subsequently may develop corresponding statistical and econometric models, this finally includes simulation studies to examine whether the estimators or statistics have good power and size. This all helps us to better understand financial and economic decision-making from a descriptive standpoint.

The research paper is original.

In the last few decades, the obesity rate has increased along with the increasing of away-from-home food consumption at restaurants (Wei & Miao, 2013), especially the food consumption at quick-service restaurants (QSRs). Previous research stated that the main factors that influence the customers’ food selection are found. Price and quality of food are the most significant things that mostly concerned customers when they are in decision-making process. There is a controversial argument between several studies that identified calorie labelling on menu influences consumers on food choice, while others said vice versa. However, several studies argued that calorie information does not have as much impact on customers’ food purchasing as other factors such as food’s quality, ranges of food, price of food, restaurant’s atmosphere, and speed of food service (Carey & Genevive, 1995). The aim of this chapter is to examine the importance of representing calorie information on menu and its effects on customer decision-making especially at QSRs. Therefore, the following questions have been addressed in this chapter:

What are the factors that influence consumer choice at QSRs?

Does calorie labelling on menus impact customer purchasing at QSRs?

This chapter starts with the introduction of the topic and reviewing previous research on menu labelling and calorie information at QSRs. This chapter aims to provide a better understanding of customer decision-making when ordering a food with regard to calorie information on the menu and the customer preference.

The underlying principle of the Capital Asset Pricing Model (CAPM) is that there is a linear relationship between systematic risk, as measured by beta, and expected share returns. The CAPM attempts to describe this relationship by using beta to explain the differences between the expected returns on various shares and share portfolios. The CAPM has been the subject of considerable theoretical investigation and empirical research. The aim of this article is to establish the current knowledge of the usefulness of the CAPM, i.e. whether it provides a reasonable description of reality and whether it is a useful tool for investment decision‐making. The main conclusion drawn from the study is that the CAPM is useful and that it does describe and explain the risk/return relationship. However, other risk factors (i.e. other than beta) may also be useful for explaining share returns. Investors should therefore be cautious when using the model to evaluate investment performance.

Australian prisons are organised around eight state and territory jurisdictions, and a number of private prison operators. A broad range of structures have evolved over 200 years around correctional management in Australia, including the arrangements for the provision of prisoner health. This paper highlights a large number of issues to argue the complex interactions between prisoner health and “public health.” The Australian context provides the backdrop for this discussion.

Surveys, from an American perspective, the existing literature on economic explanations of the behaviour of universities and scholars. The modern literature is put in historical perspective introduced by a brief discussion of the positions of two of the earliest and most distinguished contributors to the literature: Adam Smith and Max Weber. Discusses the human capital and implicit contracts literatures of the behaviour of scholars, the latter elaborated in terms of the issue of tenure. The most common theoretical economic analysis of the university is the view that it is best thought of as a non‐profit organization. Discusses variants of this view, with special attention to the literature on rent‐seeking in academe. Goes on to the empirical literature on the economics of academe in the areas of academic institutions, academic earnings functions, the earnings and status of minority scholars and academic production functions. Briefly considers the relevance of the current literature to the Althoff system, suggesting that Althoff′s able, trusted advisers, and his system of institutes, may have allowed him to avoid several inefficiences that have been identified by economists as present in other academic institutions. Although the centralization of decision making in the hands of one decision maker may be efficient if the decision maker is exceptionally able, more commonly the most efficient system will be a decentralized system that allows for greater diversity and competition. Concludes with a discussion of how hypotheses on the efficiency (and fairness) of various aspects of the Althoff system could, in principle, be tested.

Experts respond to the same incentives as people in other areas of human action, and in the same ways. This insight is a truism: Experts are ordinary people, not otherworld creatures. The disciplined pursuit of this common sense observation helps us to reach conclusions about experts that might be surprising or counterintuitive.