Pub Date : 2018-03-29DOI: 10.1177/0260107918761923
Nik Ahmad Sufian Burhan, R. C. Razak, S. Ibrahim, M. R. Selamat, Muhamad Ridhwan Rosli
A previous study has shown that the intellectual class, which is represented by the 95th percentile intelligence quotient (IQ) at a normal distribution, displayed the strongest impact upon economic growth. Meanwhile, those with average ability (50th percentile IQ) exhibited the second strongest impact, and followed by the non-intellectual class (5th percentile IQ). In addition, the researchers discovered that only the intellectual class was significant for technological progress. As such, this article re-analysed the dataset employed in prior study via robust regression. As a result, after eliminating several outliers, the levels of IQ for the intellectual class and the average ability group displayed equal impacts on economic growth, and the impacts were larger than that of non-intellectual. Furthermore, the IQ of the average ability group was significant for technological achievement, although not as strong as the intellectual class. Besides, the number of professional researchers employed in the research and development (R&D) sector did not reflect similar paramount effects as the impact of the average ability IQ in generating technological development. Thus, based on the conclusions drawn, this study suggests that the R&D sector should employ professionals who possess not only high academic qualifications, but also exceptional levels of cognitive skills, especially to spark new innovations. JEL: J24, O31, O47, Z13
{"title":"Social Classes of Intelligence, Economic Growth and Technological Achievement: Robust Regression and Outlier Detection","authors":"Nik Ahmad Sufian Burhan, R. C. Razak, S. Ibrahim, M. R. Selamat, Muhamad Ridhwan Rosli","doi":"10.1177/0260107918761923","DOIUrl":"https://doi.org/10.1177/0260107918761923","url":null,"abstract":"A previous study has shown that the intellectual class, which is represented by the 95th percentile intelligence quotient (IQ) at a normal distribution, displayed the strongest impact upon economic growth. Meanwhile, those with average ability (50th percentile IQ) exhibited the second strongest impact, and followed by the non-intellectual class (5th percentile IQ). In addition, the researchers discovered that only the intellectual class was significant for technological progress. As such, this article re-analysed the dataset employed in prior study via robust regression. As a result, after eliminating several outliers, the levels of IQ for the intellectual class and the average ability group displayed equal impacts on economic growth, and the impacts were larger than that of non-intellectual. Furthermore, the IQ of the average ability group was significant for technological achievement, although not as strong as the intellectual class. Besides, the number of professional researchers employed in the research and development (R&D) sector did not reflect similar paramount effects as the impact of the average ability IQ in generating technological development. Thus, based on the conclusions drawn, this study suggests that the R&D sector should employ professionals who possess not only high academic qualifications, but also exceptional levels of cognitive skills, especially to spark new innovations. JEL: J24, O31, O47, Z13","PeriodicalId":42664,"journal":{"name":"Journal of Interdisciplinary Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2018-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0260107918761923","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45165508","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-02-28DOI: 10.1177/0260107919845269
Miguel Álvarez Texocotitla, M. Álvarez-Hérnandez, S. Alvarez-Hernández
The fundamental purpose of the present research article is to introduce the basic principles of dimensional analysis in the context of the neoclassical economic theory, in order to apply such principles to the fundamental relations that underlay most models of economic growth. In particular, basic instruments from dimensional analysis are used to evaluate the analytical consistency of the neoclassical economic growth model. The analysis shows that an adjustment to the model is required in such a way that the principle of dimensional homogeneity is satisfied. JEL: A12, C02, C65, O40
{"title":"Dimensional Analysis in Economics: A Study of the Neoclassical Economic Growth Model","authors":"Miguel Álvarez Texocotitla, M. Álvarez-Hérnandez, S. Alvarez-Hernández","doi":"10.1177/0260107919845269","DOIUrl":"https://doi.org/10.1177/0260107919845269","url":null,"abstract":"The fundamental purpose of the present research article is to introduce the basic principles of dimensional analysis in the context of the neoclassical economic theory, in order to apply such principles to the fundamental relations that underlay most models of economic growth. In particular, basic instruments from dimensional analysis are used to evaluate the analytical consistency of the neoclassical economic growth model. The analysis shows that an adjustment to the model is required in such a way that the principle of dimensional homogeneity is satisfied. JEL: A12, C02, C65, O40","PeriodicalId":42664,"journal":{"name":"Journal of Interdisciplinary Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2018-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0260107919845269","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43613191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-01-01DOI: 10.1177/0260107917723787
Klaus S. Friesenbichler, Eva Selenko, G. Clarke
Survey data on corruption are widely used to construct corruption indices, but are hardly questioned. How do individual experiences shape perceptions of corruption? Do more work-engaged respondents perceive corruption as a bigger obstacle to business operations than others? What role does answer bias play in corruption surveys? This article brings together several strands of literature to discuss these questions, and tests them empirically with survey data from Bangladesh and Sri Lanka. We find that individuals who are more work engaged report corruption as a bigger obstacle. So did respondents who were previously exposed to corruption. We control for possible answer bias by implementing a randomized response technique, and find that corruption tends to be under-reported. The effects of work engagement and prior exposure to corruption are more pronounced when the bias indicator is considered, and again become stronger once we control for answer bias affecting past experiences with corruption. JEL: C83, D03, D73, O12
{"title":"Perceptions of Corruption: An Empirical Study Controlling for Survey Bias","authors":"Klaus S. Friesenbichler, Eva Selenko, G. Clarke","doi":"10.1177/0260107917723787","DOIUrl":"https://doi.org/10.1177/0260107917723787","url":null,"abstract":"Survey data on corruption are widely used to construct corruption indices, but are hardly questioned. How do individual experiences shape perceptions of corruption? Do more work-engaged respondents perceive corruption as a bigger obstacle to business operations than others? What role does answer bias play in corruption surveys? This article brings together several strands of literature to discuss these questions, and tests them empirically with survey data from Bangladesh and Sri Lanka. We find that individuals who are more work engaged report corruption as a bigger obstacle. So did respondents who were previously exposed to corruption. We control for possible answer bias by implementing a randomized response technique, and find that corruption tends to be under-reported. The effects of work engagement and prior exposure to corruption are more pronounced when the bias indicator is considered, and again become stronger once we control for answer bias affecting past experiences with corruption. JEL: C83, D03, D73, O12","PeriodicalId":42664,"journal":{"name":"Journal of Interdisciplinary Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0260107917723787","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45089435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-01-01DOI: 10.1177/0260107917728597
Alex M. Thomas
This article examines the views of Adam Smith on the philosophy and provision of education. On the basis of his Theory of Moral Sentiments and other writings, it becomes clear that Smith views education, conceived broadly to include both the learning of ‘wisdom’ and ‘moral sentiments’, as central to a prosperous or flourishing society. Education, in Smith’s view, is not restricted to formal institutions of education but also includes social learning—that between parents and children, and the learning arising from friendships. For Smith, education is a social process. Smith also discusses the important role of wonder and surprise in the process of education. The provision of education, as outlined in his Wealth of Nations, largely supports the public provision of education with partial contributions from the enrolled students. Smith favoured education for all because he believed that it would offset the harmful effects of division of labour on the workers, and therefore, education had to be accessible to the workers. The essay concludes by reiterating Smith’s position that education for all is necessary to create a prosperous society. JEL: A20, B12, B31
{"title":"Adam Smith on the Philosophy and Provision of Education","authors":"Alex M. Thomas","doi":"10.1177/0260107917728597","DOIUrl":"https://doi.org/10.1177/0260107917728597","url":null,"abstract":"This article examines the views of Adam Smith on the philosophy and provision of education. On the basis of his Theory of Moral Sentiments and other writings, it becomes clear that Smith views education, conceived broadly to include both the learning of ‘wisdom’ and ‘moral sentiments’, as central to a prosperous or flourishing society. Education, in Smith’s view, is not restricted to formal institutions of education but also includes social learning—that between parents and children, and the learning arising from friendships. For Smith, education is a social process. Smith also discusses the important role of wonder and surprise in the process of education. The provision of education, as outlined in his Wealth of Nations, largely supports the public provision of education with partial contributions from the enrolled students. Smith favoured education for all because he believed that it would offset the harmful effects of division of labour on the workers, and therefore, education had to be accessible to the workers. The essay concludes by reiterating Smith’s position that education for all is necessary to create a prosperous society. JEL: A20, B12, B31","PeriodicalId":42664,"journal":{"name":"Journal of Interdisciplinary Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0260107917728597","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42420256","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-01-01DOI: 10.1177/0260107917697504
Jasman Tuyon, Zamri Ahmad
This article provides an alternative theoretical framework to explain investors’ irrational behaviours in finance theories (mainly asset pricing) based on psychoanalysis approach. This is an approach used by psychoanalysts and psychiatrists to investigate human minds. The investigation is facilitated by interdisciplinary theories, namely (a) bounded rationality theory which differentiates intuition and reasoning, (b) prospect theory which explains framing and valuation and (c) theory of mind which divides behavioural risks into cognitive heuristics and affective biases. These theories collectively explain the origin of irrational behaviours. Additionally, (d) the ABC (Activating–Beliefs–Consequences) model is also used to interpret the causes and effects of irrational behaviours on investors and market behaviour. Last theory, (e) the dual system model of preference is used to conceptualize the bounded human mind that contains both rational and irrational elements. The proposed theoretical framework provides the theoretical foundation of investors’ irrational origin, forces, causes as well as their systematic effects on investors, asset prices and stock market behaviours dynamism. The validity of the theoretical framework is supported by empirical test using a representative of emerging stock market data and behavioural risk proxies.
{"title":"Psychoanalysis of Investor Irrationality and Dynamism in Stock Market","authors":"Jasman Tuyon, Zamri Ahmad","doi":"10.1177/0260107917697504","DOIUrl":"https://doi.org/10.1177/0260107917697504","url":null,"abstract":"This article provides an alternative theoretical framework to explain investors’ irrational behaviours in finance theories (mainly asset pricing) based on psychoanalysis approach. This is an approach used by psychoanalysts and psychiatrists to investigate human minds. The investigation is facilitated by interdisciplinary theories, namely (a) bounded rationality theory which differentiates intuition and reasoning, (b) prospect theory which explains framing and valuation and (c) theory of mind which divides behavioural risks into cognitive heuristics and affective biases. These theories collectively explain the origin of irrational behaviours. Additionally, (d) the ABC (Activating–Beliefs–Consequences) model is also used to interpret the causes and effects of irrational behaviours on investors and market behaviour. Last theory, (e) the dual system model of preference is used to conceptualize the bounded human mind that contains both rational and irrational elements. The proposed theoretical framework provides the theoretical foundation of investors’ irrational origin, forces, causes as well as their systematic effects on investors, asset prices and stock market behaviours dynamism. The validity of the theoretical framework is supported by empirical test using a representative of emerging stock market data and behavioural risk proxies.","PeriodicalId":42664,"journal":{"name":"Journal of Interdisciplinary Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0260107917697504","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47737485","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-01-01DOI: 10.1177/0260107917700470
N. Carbonara
The article conducts an explorative research on the competitive success of industrial districts (IDs) based on their capacity to adapt and evolve in response to the environmental changes. The aim is to identify the ID structural features supporting adaptation by using the complexity theory. Thus, IDs are considered as complex adaptive systems (CASs) and the ID features that foster adaptation are identified based on the main CAS properties, namely inter-connectivity, heterogeneity and control. To formulate the theory linking the values of the ID structural features with the ID competitive success, a multiple case study is carried out. Finally, three theoretical propositions are derived. JEL: P13, P17, P48, R10
{"title":"Competitive Success of Italian Industrial Districts: A Network-based Approach","authors":"N. Carbonara","doi":"10.1177/0260107917700470","DOIUrl":"https://doi.org/10.1177/0260107917700470","url":null,"abstract":"The article conducts an explorative research on the competitive success of industrial districts (IDs) based on their capacity to adapt and evolve in response to the environmental changes. The aim is to identify the ID structural features supporting adaptation by using the complexity theory. Thus, IDs are considered as complex adaptive systems (CASs) and the ID features that foster adaptation are identified based on the main CAS properties, namely inter-connectivity, heterogeneity and control. To formulate the theory linking the values of the ID structural features with the ID competitive success, a multiple case study is carried out. Finally, three theoretical propositions are derived. JEL: P13, P17, P48, R10","PeriodicalId":42664,"journal":{"name":"Journal of Interdisciplinary Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0260107917700470","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49397155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-01-01DOI: 10.1177/0260107917731034
Teerapong Pinjisakikool
Using a large sample that can represent the Dutch population, this article mainly studies the determinants of financial risk tolerance. I propose that the big five personality traits are the potential factors that can explain differences in financial risk tolerance among individuals. Furthermore, this article examines the effect of personality traits on the actual financial behaviour of households through financial risk tolerance. I find that all the big five personality traits including extraversion, agreeableness, conscientiousness, emotional stability and intellect significantly predict financial risk tolerance. Additionally, these personality traits as instrumental variables can also indirectly predict the financial behaviour of households. JEL: D10, D14, D19
{"title":"The Influence of Personality Traits on Households’ Financial Risk Tolerance and Financial Behaviour","authors":"Teerapong Pinjisakikool","doi":"10.1177/0260107917731034","DOIUrl":"https://doi.org/10.1177/0260107917731034","url":null,"abstract":"Using a large sample that can represent the Dutch population, this article mainly studies the determinants of financial risk tolerance. I propose that the big five personality traits are the potential factors that can explain differences in financial risk tolerance among individuals. Furthermore, this article examines the effect of personality traits on the actual financial behaviour of households through financial risk tolerance. I find that all the big five personality traits including extraversion, agreeableness, conscientiousness, emotional stability and intellect significantly predict financial risk tolerance. Additionally, these personality traits as instrumental variables can also indirectly predict the financial behaviour of households. JEL: D10, D14, D19","PeriodicalId":42664,"journal":{"name":"Journal of Interdisciplinary Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0260107917731034","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46279624","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-07-01DOI: 10.1177/0260107917699694
Fola Malomo
This article examines the determinants of underreporting (reticence) on randomized response questions. A simple model is created to describe the interview process and draw some conclusion as to why people might misreport their true status despite given the assurance of institutional and statistical confidentiality. By looking at the relationship between firm-specific reticence and other firm-specific and industry-location-specific variables, it is found that (mis)trust (proxied by the proportion of contracts arranged before delivery) is a significant predictor of reticence. Underreporting does not seem to be significantly related to a misunderstanding of the procedure, education, profit levels or guilt. This seems to suggest that firms which are more cautious in their business dealings are also more cautious with the randomized response (RR) technique. In such cases, weighted estimates of the prevalence of sensitive traits might be derived without the use of the RR technique but through the use of variables relating to the nature of firm-level contracts. Moreover, more accurate data on sensitive topics can be extracted from large homogeneous populations. JEL: C81, C83, D81
{"title":"What Drives Reticence? Reporting Bias from Monopolies and Distrustful Firm Managers","authors":"Fola Malomo","doi":"10.1177/0260107917699694","DOIUrl":"https://doi.org/10.1177/0260107917699694","url":null,"abstract":"This article examines the determinants of underreporting (reticence) on randomized response questions. A simple model is created to describe the interview process and draw some conclusion as to why people might misreport their true status despite given the assurance of institutional and statistical confidentiality. By looking at the relationship between firm-specific reticence and other firm-specific and industry-location-specific variables, it is found that (mis)trust (proxied by the proportion of contracts arranged before delivery) is a significant predictor of reticence. Underreporting does not seem to be significantly related to a misunderstanding of the procedure, education, profit levels or guilt. This seems to suggest that firms which are more cautious in their business dealings are also more cautious with the randomized response (RR) technique. In such cases, weighted estimates of the prevalence of sensitive traits might be derived without the use of the RR technique but through the use of variables relating to the nature of firm-level contracts. Moreover, more accurate data on sensitive topics can be extracted from large homogeneous populations. JEL: C81, C83, D81","PeriodicalId":42664,"journal":{"name":"Journal of Interdisciplinary Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2017-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0260107917699694","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48365220","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-06-30DOI: 10.1177/0260107916688578
Thomas Apolte
Phillip J. Bryson, Socialism: Origins, Expansion, Decline, and the Attempted Revival in the United States. Bloomington, IN: XLibris, pp. 834, $23.99, ISBN: 978-1-5144-1459-0 (paperback).
{"title":"Book Review: Phillip J. Bryson, Socialism: Origins, Expansion, Decline, and the Attempted Revival in the United States","authors":"Thomas Apolte","doi":"10.1177/0260107916688578","DOIUrl":"https://doi.org/10.1177/0260107916688578","url":null,"abstract":"Phillip J. Bryson, Socialism: Origins, Expansion, Decline, and the Attempted Revival in the United States. Bloomington, IN: XLibris, pp. 834, $23.99, ISBN: 978-1-5144-1459-0 (paperback).","PeriodicalId":42664,"journal":{"name":"Journal of Interdisciplinary Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2017-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0260107916688578","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49309330","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-06-30DOI: 10.1177/0260107917709169
Marco Tolla
This article analyzes the relationship between the shadow economy and tax evasion in order to verify if their dynamics are substantially identical or may present elements of differentiation, even though the two aforementioned phenomena appear (on the basis of certain statistical definitions) to overlap in terms of economic values. To this end, the article proceeds by providing a series of terminological definitions that are useful to properly classify these phenomena and then it lists the main methodologies used for their quantification. Although such methods and their strengths and weaknesses are well known in economic studies, it is useful to recall them in order to underline some questions connected with the development of a model aimed at describing the approach to the shadow economy and tax evasion from a microeconomic perspective. The first question is if the underground economy can exist in absence of tax evasion and, in that case, which are the factors that allow it. A related question is how is it possible from a microeconomic perspective to estimate in percentage the overall disadvantage (fiscal and non-fiscal) deriving from the total declaration of economic activities to public authorities compared to firms that work in the underground economy? On this matter, reference to case law and regulatory measures, performed in order to create an economic-juridical parallel on the shadow economy and tax evasion, has been made with regard to the Italian legal system, so as to fit the mathematical model as much as possible to observed facts. JEL: K42, H26, O17
{"title":"Individual Approach to the Shadow Economy","authors":"Marco Tolla","doi":"10.1177/0260107917709169","DOIUrl":"https://doi.org/10.1177/0260107917709169","url":null,"abstract":"This article analyzes the relationship between the shadow economy and tax evasion in order to verify if their dynamics are substantially identical or may present elements of differentiation, even though the two aforementioned phenomena appear (on the basis of certain statistical definitions) to overlap in terms of economic values. To this end, the article proceeds by providing a series of terminological definitions that are useful to properly classify these phenomena and then it lists the main methodologies used for their quantification. Although such methods and their strengths and weaknesses are well known in economic studies, it is useful to recall them in order to underline some questions connected with the development of a model aimed at describing the approach to the shadow economy and tax evasion from a microeconomic perspective. The first question is if the underground economy can exist in absence of tax evasion and, in that case, which are the factors that allow it. A related question is how is it possible from a microeconomic perspective to estimate in percentage the overall disadvantage (fiscal and non-fiscal) deriving from the total declaration of economic activities to public authorities compared to firms that work in the underground economy? On this matter, reference to case law and regulatory measures, performed in order to create an economic-juridical parallel on the shadow economy and tax evasion, has been made with regard to the Italian legal system, so as to fit the mathematical model as much as possible to observed facts. JEL: K42, H26, O17","PeriodicalId":42664,"journal":{"name":"Journal of Interdisciplinary Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2017-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0260107917709169","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48836538","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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