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This paper applies a volume-price probability wave differential equation to propose a conceptual theory and has innovative behavioral interpretations of intraday dynamic market equilibrium price, in which traders' momentum, reversal and interactive behaviors play roles.

The authors select intraday cumulative trading volume distribution over price as revealed preferences. An equilibrium price is a price at which the corresponding cumulative trading volume achieves the maximum value. Based on the existence of the equilibrium in social finance, the authors propose a testable interacting traders' preference hypothesis without imposing the invariance criterion of rational choices. Interactively coherent preferences signify the choices subject to interactive invariance over price.

The authors find that interactive trading choices generate a constant frequency over price and intraday dynamic market equilibrium in a tug-of-war between momentum and reversal traders. The authors explain the market equilibrium through interactive, momentum and reversal traders. The intelligent interactive trading preferences are coherent and account for local dynamic market equilibrium, holistic dynamic market disequilibrium and the nonlinear and non-monotone V-shaped probability of selling over profit (BH curves).

The authors will understand investors' behaviors and dynamic markets through more empirical execution in the future, suggesting a unified theory available in social finance.

The authors can apply the subjects' intelligent behaviors to artificial intelligence (AI), deep learning and financial technology.

Understanding the behavior of interacting individuals or units will help social risk management beyond the frontiers of the financial market, such as governance in an organization, social violence in a country and COVID-19 pandemics worldwide.

It uncovers subjects' intelligent interactively trading behaviors.

The purpose of this research is to explore the impact of women in the C-suite on strategic marketing choices in general and CSR in particular is scant. To that end, this study explores whether and how firms led by female CEOs differ from those led by male CEOs with regard to the types of CSR they pursue. The study classifies CSR into two types: relational (i.e. related to employees, human rights, community and diversity) and rational (i.e. related to product, environment and corporate governance).

To create the sample, the authors combined four databases: Compustat, Execucomp, Center for Research in Security Prices (CRSP) and Kinder, Lydenberg, Domini and Co., Inc. (KLD). Data for the time period between 1992 and 2013 (both inclusive) were used for the investigation. The final sample comprised of 2,739 firms, for a total of 19,969 firm-year observations (an unbalanced panel).

Building on self-construal theory and theory of female ethics, the authors theorize and find evidence that while firms led by male and female CEOs are not significantly different with regard to rational CSR performance, firms led by female CEOs outperform those led by male CEOs with regard to their relational CSR performance. Furthermore, the authors also find that different types of CEO power (i.e. managerial power, legitimate power and formal power) moderate the link between CEO gender and types of CSR differently.

This research contributes to research on CSR by introducing two new types of CSR: relational CSR and rational CSR. Further, the research contributes to the broader discussion of how senior managers inject their gender roles into their CSR choices. The authors provide important insights in this area by highlighting that at least some types of myopic management are also driven by CEO gender: female CEOs – to the extent that they are more likely to invest in CSR strengths which pay off in the long run – engage in less myopic management than male CEOs with regard to CSR choices.

To prospective managers, this research suggests that the gender of the CEO is an effective signal that can help them predict firms’ likely CSR behavior. More specifically, firms led by female CEOs are likely to outperform those led by male CEOs with regard to certain dimensions of CSR (higher relational and rational strengths and fewer relational concerns) and this effect of CEO gender on firms’ CSR behavior is likely to be more pronounced when the CEO exhibits certain kinds of power. Female CEOs may benefit by understanding their innate tendencies to focus on relational versus rational CSR, thereby taking advantage of the positive aspects of their tendencies.

This paper classifies CSR into two types: relational and rational. The findings indicate the benefits of this nuanced classification: female CEOs have a stronger impact on relational CSR compared to male CEOs, while the two types of CEOs do not show a significant difference with regard to their impact on rational CSR. The paper also shows that dividing the variable of CEO power into its sub-types, i.e. managerial power (CEO duality), legitimate power (CEO tenure) and formal power (CEO-TMT pay gap) has value as each of these power dimensions is found to impact the CEO gender-CSR relationship differently.

This study aims to elucidate the dynamics of monetary and fiscal policy interactions in Brazil, focusing on the impacts of positive shocks in government consumption and interest rates. By comparing rational and behavioral agent responses, it clarifies how these frameworks influence gross domestic product (GDP), inflation, private and government consumption and nominal interest rates.

The study employs a new Keynesian dynamic stochastic general equilibrium (DSGE) model with Bayesian estimation from 2000Q1 to 2022Q4, capturing rational and behavioral behaviors with adjustments for Brazilian economic idiosyncrasies. Impulse response functions (IRF) assess the dynamic effects of policy shocks, providing a comparative analysis of the two frameworks.

Behavioral agents show greater initial sensitivity to policy shocks, causing more pronounced fluctuations in GDP, inflation and private consumption compared to rational agents. Over time, the behavioral approach leads to a more robust recovery, while the rational approach results in a quicker return to equilibrium but less pronounced long-term recovery. The study also finds fiscal policy can partially offset the negative impacts of monetary tightening, with a more delayed effect in the behavioral model.

This paper provides insights into the interplay between monetary and fiscal policies under different agent expectations, emphasizing the importance of incorporating behavioral elements into macroeconomic models to better capture policy dynamics in emerging markets.

A novel method for modelling permanent magnets is investigated based on numerical approximations with rational functions. This study aims to introduce the AAA algorithm and other recently developed, cutting-edge mathematical tools, which provide outstandingly fast and accurate numerical computation of potentials and vector fields.

First, the AAA algorithm is briefly introduced along with its main variants and other advanced mathematical tools involved in the modelling. Then, the analysis of a circular Halbach array with a one-pole pair is carried out by means of the AAA-least squares method, focusing on vector potential and flux density in the bore and validating results by means of classic finite element software. Finally, the investigation is completed by a finite difference analysis.

AAA methods for field analysis prove to be strikingly fast and accurate. Results are in excellent agreement with those provided by the finite element model, and the very good agreement with those from finite differences suggests future improvements. They are also easy programming; the MATLAB code is less than 200 lines. This indicates they can provide an effective tool for rapid analysis.

AAA methods in magnetostatics are novel, but their extension to analogous physical problems seems straightforward. Being a meshless method, it is unlikely that local non-linearities can be considered. An aspect of particular interest, left for future research, is the capability of handling inhomogeneous domains, i.e. solving general interface problems.

The authors use cutting-edge mathematical tools for the modelling of complex physical objects in magnetostatics.

The construction industry has shown an inherent inability to adopt advanced technological innovations. The construction innovation literature is highly fragmented and outlines an overwhelming number of factors that arguably influence the transfer of technological innovations in construction. Factor-based research in the construction innovation literature tends to set out technological innovations and their adoption as socially neutral events, overlooking the role of context in the adoption process. Hence, the authors’ understanding of how technological innovations are transferred and implemented in the construction industry remains limited by the constraints of reductionist approaches adopted by factor-based research. This paper aims to advance the authors’ understanding of the actual experiences of technological innovations transfer in construction. Instead of introducing another set of factors, the research, through empirical investigation, develops a comprehensive and holistic framework to re-interpret the existing factor-based literature taking into consideration the role of the construction context and the socially constructed nature of technological innovations.

This research uses a participatory exploratory multiple case study design strategy, which has much in common with action research. The factors that could influence the transfer of technological innovations were investigated in three selected case studies over an extended period of time. During the research, a prototype system application of construction integration was used as a basis to discuss the adoption of technological innovations.

The findings suggest moving from the commonly held beliefs in the rational school of technological innovation and the functionalist paradigm towards constructivist approaches to capture the role of context and the stoically constructed nature of technological innovations. It is suggested that construction companies need to develop management capabilities to manage the changing political environments of the adoption process. The research supports the emerging view of technological innovations in construction as a collaborative-based innovation, which is a function of relationships and context.

The research is limited by the settings of the action research design and the use of an interpretive approach. Because the focus was on investigating the “why” question, little attention was given to the “how” question. Accordingly, the findings provide little insights into the way organizations can manage the changing political and social environment of the adoption process. The authors also acknowledge that in spite of their best efforts to build a theoretically grounded framework of factors, they may have overlooked some relevant studies. However, the objective of this research was not to conduct a systematic literature review or to come up with a framework that quantitatively captures all previous research studies; instead, the objective was to build a holistic framework that can be used as a base to analyze the role of construction context and the socially constructed nature of technological innovations in the adoption process.

The research offers several practical insights. First, it suggests that construction companies need to develop management capabilities to be able to lead the changing political environment of the adoption process successfully. Second, the research supports the emerging view of technological innovations in construction as a collaborative-based innovation that is a function of relationship. From a policy perspective, the research provides the basis to reconsider the effectiveness of federal and provincial policies that promote advanced technological Initiatives. The majority of these policies focus on the technical aspects in assessing the adoption of technological innovation, providing little incentives to companies to manage the changing political and social environment of the adoption process.

This research offers several theoretical and methodological contributions. First, it advances the authors’ understanding of the actual experiences of the transfer of technological innovations in construction organizations. Second, instead of introducing another set of factors, the research develops a framework to re-interpret the existing factor-based literature, considering the role of construction context and the socially constructed nature of technological innovations. The research uses the theoretical lens of the social construction of technology framework to analyze the adoption process. The existing literature suggests that such research is scarce and highly needed. Third, unlike the mainstream reductionist approaches, this research adopts an exploratory action research inquiry design that uses both inductive and deductive inquiry approaches to understand the socially constructed nature of innovation transfer in construction. The adopted research design offers a valuable methodological contribution to the existing body of knowledge.

The purpose of the article is to conduct a mathematical and theoretical analysis of soliton solutions for a specific nonlinear evolution equation known as the (2 + 1)-dimensional Zoomeron equation. Solitons are solitary wave solutions that maintain their shape and propagate without changing form in certain nonlinear wave equations. The Zoomeron equation appears to be a special model in this context and is associated with other types of solitons, such as Boomeron and Trappon solitons. In this work, the authors employ two mathematical methods, the modified F-expansion approach with the Riccati equation and the modified generalized Kudryashov’s methods, to derive various types of soliton solutions. These solutions include kink solitons, dark solitons, bright solitons, singular solitons, periodic singular solitons and rational solitons. The authors also present these solutions in different dimensions, including two-dimensional, three-dimensional and contour graphics, which can help visualize and understand the behavior of these solitons in the context of the Zoomeron equation. The primary goal of this article is to contribute to the understanding of soliton solutions in the context of the (2 + 1)-dimensional Zoomeron equation, and it serves as a mathematical and theoretical exploration of the properties and characteristics of these solitons in this specific nonlinear wave equation.

The article’s methodology involves applying specialized mathematical techniques to analyze and derive soliton solutions for the (2 + 1)-dimensional Zoomeron equation and then presenting these solutions graphically. The overall goal is to contribute to the understanding of soliton behavior in this specific nonlinear equation and potentially uncover new insights or applications of these soliton solutions.

As for the findings of the article, they can be summarized as follows: The article provides a systematic exploration of the (2 + 1)-dimensional Zoomeron equation and its soliton solutions, which include different types of solitons. The key findings of the article are likely to include the derivation of exact mathematical expressions that describe these solitons and the successful visualization of these solutions. These findings contribute to a better understanding of solitons in this specific nonlinear wave equation, potentially shedding light on their behavior and applications within the context of the Zoomeron equation.

The originality of this article is rooted in its exploration of soliton solutions within the (2 + 1)-dimensional Zoomeron equation, its application of specialized mathematical methods and its successful presentation of various soliton types through graphical representations. This research adds to the understanding of solitons in this specific nonlinear equation and potentially offers new insights and applications in this field.

Literature on psychology highlights four traits that shape an amoral and antisocial personality: Machiavellianism, narcissism, psychopathy and sadism. Together, these personality traits form the Dark Tetrad. In this study, the standard intertemporal utility maximization model is reassessed from the point of view of a representative economic agent endowed with the Dark Tetrad personality traits.

The approach followed in this paper consists of identifying how each of the Dark Tetrad traits might be logically associated with the dynamic utility problem, as well as exploring, in the context of the model, the implications, for consumption and utility, of admitting the presence of such traits in individuals’ personalities.

It is found that, typically, dark personalities penalize consumption growth, even when such traits are interpreted directly and positively contributing to the utility of the agent. It is also found that in economies with two or more interacting agents, the dark traits might have a mutually destructive nature.

Economics is going through a smooth revolution in the direction of becoming an eminently behavioral science. Most of the traditional economic models, based on the idea of the hyper-rational agent, are being replaced or complemented by a different view of the homo-economicus, in which, among other things, personality matters. This paper offers a novel contribution in this direction.

Emotions, understood as evolving mental states, are pivotal in shaping individuals“' decision-making, especially in ambiguous information evaluation, probability estimation of events, and causality analysis. Public–private partnership (PPP) projects represent a confluence of “economic–environmental–social” dimensions, wherein stakeholder behavior follows the sequential progression of “cognition–emotion–action.” Consequently, comprehending the effects of emotional shifts on stakeholder's decision-making processes is vital to fostering the sustainability of PPP projects.

The paper utilizes rank-dependent expected utility and evolutionary game theory to systematically examine the influence of emotional factors on stakeholders' behavior and decision-making processes within PPP projects. The paper integrates three emotional state functions—optimism, pessimism and rationality—into the PPP framework, highlighting the intricate interactions among the government, private sector, surrounding public and the media. Furthermore, the paper amalgamates the evolutionary pathways of environmental rights incidents with the media's role. Through equilibrium analysis and numerical simulation, the paper delves into the diverse interplay of emotions across different phases of the environmental rights incident, assessing the impact of these emotions on the evolutionary game's equilibrium results.

Emotions significantly influence the microlevel decisions of PPP stakeholders, adapting continually based on event dynamics and media influences. When the private sector demonstrates optimism and the surrounding public leans toward rationality or pessimism, the likelihood of the private sector engaging in speculative behavior escalates, while the surrounding public refrains from adopting a supervisory strategy. Conversely, when the private sector is pessimistic and the public is optimistic, the system fails to evolve a stable strategy. However, when government regulation intensifies, the private sector opts for a nonspeculative strategy, and the surrounding public adopts a supervisory strategy. Under these conditions, the system attains a relatively optimal state of equilibrium.

The paper develops a game model to examine the evolutionary dynamics between the surrounding public and private sectors concerning environmental rights protection in waste incineration PPP projects. It illuminates the nature of the conflicting interests among project participants, delves into the impact of emotional factors on their decision-making processes and offers crucial perspectives for the governance of such partnerships. Furthermore, this paper provides substantive recommendations for emotional oversight to enhance governance efficacy.

The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

Corporate misconduct carries significant social and economic costs, and therefore regulators and other stakeholders seek to deter it. Despite the significant costs and deterrence efforts, corporate misconduct is widespread and our understanding of it is limited. As argued in this chapter, one key reason for this is the lack of understanding of the benefits and penalties of misconduct for the companies and individuals involved, as well as the detection of such behavior. This chapter seeks to advance our understanding of corporate misconduct and builds on the rational choice model (RCM) – where the decision to engage in misconduct hinges on a calculation of the expected costs and benefit – and links it to research in organization theory and strategy. Specifically, it sets a research agenda at the intersection of organizational and strategic perspectives, to deepen our understanding of corporate misconduct and shed light on opportunities for empirical and theoretical research which can potentially aid in developing effective deterrence strategies.