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Previous months:
2025 - 2504(1) - 2505(1) - 2507(1) - 2512(2)
2026 - 2606(1) - 2607(2)
Any replacements are listed farther down
[8] ai.viXra.org:2607.0019 [pdf] submitted on 2026-07-09 19:40:54
Authors: Felix Reichel
Comments: 79 Pages.
This paper studies the determinants (and economics) of free-riding in the swimming stage of massstart triathlon. The theoretical framework builds upon non-discriminatory Tullock contests, modeling triathlon as a simplified two-stage game with quadratic effort costs, and extends to n-player and asymmetric settings in which drafting multiplicatively reduces heterogeneous effective marginal costs.Empirically, I construct an event-study measure of free-riding based on relative rank changes across the two stages to capture free-riding propagation, centered on the exceptional 2020 season, during which non-drafting rules were enforced due to the COVID-19 pandemic.Causal identification combines pooled OLS (POLS) with athlete and event fixed effects (FE), as well as a regression discontinuity design (RDD) exploiting COVID-19 policy—induced rule changes—specifically, individually staggered starts—that mechanically reduced drafting potential and, consequently, its utilization. Additionally the economic analysis chapter uses elasticity, production frontier, and conditional quantile methods to primarily examine group-size effects.The results show that: (i) free-riding was substantially positive prior to 2020, collapsed during the 2020 season, and only partially recovered thereafter; (ii) the drafting effects are stronger for weaker swimmers and athletes in deeper drafting positions, with modest gender differences; and (iii) age heterogeneity is pronounced, with middle-aged and older cohorts benefiting the most, suggesting that athlete experience plays a vital role in efficiently utilizing free-riding gains. However, this latter finding may also be significantly confounded by compositional changes in athletes’ body characteristics over time.
Category: Economics and Finance
[7] ai.viXra.org:2607.0008 [pdf] submitted on 2026-07-04 23:32:35
Authors: Ujjwal Singh
Comments: 14 Pages.
Central Bank Digital Currencies, or CBDCs, are becoming one of the biggest topics in global finance. Many central banks argue that CBDCs can help bring millions of unbanked people into the formal financial system. But there is also a serious concern: if too many people move their money from commercial banks into CBDCs, itcould weaken the banking system. This paper looks at both sides of that argument by studying three countries that have already launched CBDCs: the Bahamas with its Sand Dollar, Nigeria with the eNaira, and China with the Digital Yuan. Using data from the IMF, the BIS, the World Bank, and individual central bank reports, the paper evaluates each case based on four things: how much the CBDC helped with financial inclusion, howwidely it was adopted, what impact it had on banks, and what design choices shaped the outcome. The findings show that all three CBDCs made some progress on inclusion, but none of them caused the banking instability that economists worriedabout. The main reason is simple: none of them were adopted at a large enough scale to seriously threaten commercial banks. The paper argues that the tension between financial inclusion and banking stability is not a fixed problem. It is a design problem. With the right choices, both goals can be pursued at the same time.
Category: Economics and Finance
[6] ai.viXra.org:2606.0052 [pdf] submitted on 2026-06-20 03:30:59
Authors: Sayo Asanagi
Comments: 28 Pages.
The upper tail of the individual wealth distribution in human societies universallyfollows a power law P (w) ∝ w−κ with Pareto exponent κ ∈ (1.5, 2.5), yet a fullyendogenous derivation of κ from economic first principles has remained an open prob-lem. We introduce the Arbitrage-Driven Wealth Distribution (ADWD) framework,founded on four base axioms (rationality, wealth-proportional information access,time-scale separation, and finite arbitrage lifetime) and three developmental axioms(determination of trading time, arbitrage arrival rate, and lifetime—trading-time con-sistency). From these axioms alone we derive a Fokker—Planck equation governingthe evolution of the wealth density P (w, t) with fully endogenous drift and diffusioncoefficients. The stationary solution yields a Pareto distribution whose exponent isgiven byκ = 1 + 2μlossαδ0,where every parameter carries a precise economic meaning. The dissipation rate μlossis decomposed without additional axioms into three components: consumption dis-sipation μC = ρ (from the rationality axiom via Ramsey optimisation), depreciationdissipation μD = 1/γ (from the finite lifetime axiom), and equilibration dissipationμE = αW 2∞/(N δ0) (from the information-access and time-scale axioms). The ag-gregate wealth ceiling W∞ emerges endogenously from a logistic structure implicitin the axioms, satisfying a self-consistency equation. A growth-correction term (theβ-term) is derived in three stages: a dynamic extension of the information-accessaxiom, a Nash equilibrium argument that identifies β = (1 − κ)β1/2, and a pertur-bative verification showing that the β-term vanishes at stationarity while governingthe transient approach to the power law. We establish two bridging theorems. The-orem P shows that Piketty’s qualitative criterion r > g is a special case of ourframework, recovered in the limit μD, μE → 0, and is sharpened to the quantita-tive condition αηW∞ > μloss. A correspondence theorem identifies the Bouchaud—Mézard exchange model as the limiting case ρ → 0, γ → ∞ of ADWD, providingthe economic micro-foundation that the physical model lacks. Finally, we proposea three-equation empirical protocol for estimating the sole non-directly-observableparameter α from wealth-distribution data, transaction frequencies, and aggregategrowth rates, enabling in-principle falsification of the theory
Category: Economics and Finance
[5] ai.viXra.org:2512.0026 [pdf] submitted on 2025-12-07 01:27:29
Authors: Motsumi Taje
Comments: 18 Pages. (Note by ai.viXra.org Admin: Please cite and list scientific references in a proper/standard manner)
This research examines the intricate and often contentious relationship between economic growth and environmental sustainability, challenging conventional paradigms that prioritize economic expansion at the expense of ecological preservation. The study criticallyassesses the assumptions underpinning growth-centric development models, with particularattention to the Environmental Kuznets Curve (EKC), which posits that environmental degradation increases in the early stages of economic growth before improving as a society becomes wealthier. Through a detailed critique of the EKC and the impacts of capitalist economic structures, this paper highlights the flaws of these models, particularly their failure to account for irreversible environmental damage and the insufficient role of policy interventions in mitigating ecological harm. Furthermore, the research explores how international competition and the capitalist drive for profit exacerbate environmental degradation, pushing nations to weaken environmental regulations in pursuit of economic advantage. The paper advocates for a shift towards sustainable economic models that integrate both economic growth and environmentalconservation, stressing the need for robust regulatory frameworks and international cooperation. The findings underscore that, while economic and environmental objectives have historically been seen as mutually exclusive, a balanced approach is not only feasible but essential for achieving long-term prosperity and ecological stability.
Category: Economics and Finance
[4] ai.viXra.org:2512.0016 [pdf] submitted on 2025-12-05 01:06:59
Authors: Florentin Smarandache, Victor Christianto
Comments: 24 Pages.
It is known that John Kay's Distinctive Capabilities Framework offers a profound and nuanced understanding of organizational achievement, shifting the focus from the static possession of significant assets ("Resource-based approach") to the dynamic cultivation of enduring relational contracts ("Relationship-based approach"). Kay identified three essential capabilities —Architecture, Reputation, and Innovation— as the non-replicable sources of performance and sustainable advantage. These capabilities encapsulate "what makes our organization so special," rooted in the continuity and stability of relationships with customers, suppliers, shareholders, and employees. While conceptually powerful, Kay's framework, in its original form, often lacks the operational precision required for modern execution, and the present article is an attempt to fill the gap. Moreover, in this article we also extend Sustainable Advantage based on John Kay's Distinctive Capabilities framework, to include E.F. Schumacher’s Intermediate Technology with applications to Botany etc., for instance new innovative solutions such as laser-culture, gravitational water vortex power plant, confined vortex turbine, new fusion energy theory based on PT-symmetric potential of crystals, and also a plausible new approach to turn plastic waste into biofuel. While several of those innovative solutions are still in "lab scale" phase, they can be expected to yield quite significant results in the near future, especially for less developed countries.
Category: Economics and Finance
[3] ai.viXra.org:2507.0076 [pdf] submitted on 2025-07-14 02:39:03
Authors: Victor Christianto, Florentin Smarandache
Comments: 12 Pages.
This article extends the framework of "intertwined humanity" — conceptualized throughNeutrosophic Complete Graphs and Borromean rings, and interpreted via Shigenori Nagatomo's"Logic of Not" — to propose a conceptual model for enhancing Graduated and Reciprocated Initiatives in Tension-reduction (GRIT). We posit that conflict reduction, particularly the crucial mutual increase of trust, is a deeply coupled and non-linear process that transcends binary states. By integrating the systemic interdependence of Borromean structures, the nuanced ambivalence captured by the "Logic of Not," and the inherent complexities of human interaction (as per Ubuntu), we develop atheoretical model using coupled Riccati Ordinary Differential Equations (ODEs). This approach aims to illuminate how GRIT initiatives, perceived through a "Logic of Not" lens, can shift conflict dynamics towards a stable state of mutual trust, reflecting the intertwined nature of human well-being and paving the way for more robust peace-building strategies.
Category: Economics and Finance
[2] ai.viXra.org:2505.0087 [pdf] submitted on 2025-05-16 22:57:30
Authors: Dainis Zeps
Comments: 4 Pages. Assisted by ChatGPT
This paper explores the conceptual parallels between Dainis Zeps’ 2009 physics-based theory of money—particularly his application of gauge freedom—and the later emergence of cryptocurrencies. Though Zeps wrote before the advent of Bitcoin, his treatment of money as a dynamic, relational measure offers striking anticipations of digital currencies’ decentralization, contextual valuation, and systemic redefinition of financial roles. The study contrasts Zeps’ vision with the real-world behavior of cryptocurrencies, noting where their implementations align with or diverge from his theoretical ideals. The analysis concludes that while speculative forces have limited the transformative potential of cryptocurrencies, Zeps' framework remains a valuable lens through which to evaluate the ongoing evolution of monetary systems.
Category: Economics and Finance
[1] ai.viXra.org:2504.0058 [pdf] submitted on 2025-04-18 01:57:57
Authors: Hyunho Shin
Comments: 28 Pages.
This paper critically examines the structural contradictions within Donald Trump’s economic policy platform and their implications for the U.S. dollar’s role as the global reserve currency. Centering on three interlinked policy domains—aggressive tariff implementation, opposition to a central bank digital currency (CBDC), and endorsement of privately issued USD-backed stablecoins—this analysis explores how such strategies, though framed as pro-sovereignty and pro-growth, may paradoxically destabilize the very foundations of American monetary power.Using theoretical frameworks such as the Triffin dilemma and institutional trust models, the study reveals how tariff-driven protectionism can fuel inflation, strain U.S. trade partnerships, and erode confidence in Treasury bonds. The prohibition of a CBDC, meanwhile, isolates the U.S. in the global shift toward digital currencies, undermining long-term innovation and ceding leadership to geopolitical rivals such as China and the EU. Simultaneously, Trump’s support for privately issued digital dollars—some of which are directly tied to his own financial interests—raises serious concerns about the privatization of monetary functions and the erosion of public trust in the neutrality of U.S. currency issuance.A risk model outlines scenarios ranging from gradual erosion of trust to acute financial crises involving capital flight from U.S. debt instruments. The paper compares the U.S. dollar's credibility mechanisms with those of Bitcoin and stablecoins, highlighting the limitations of private digital currencies as substitutes for sovereign money.Ultimately, the study concludes that Trump’s policy triad—tariffs, anti-CBDC populism, and personal coin issuance—threatens the credibility, neutrality, and global utility of the dollar. Recommendations are offered to realign U.S. strategy toward a more balanced, transparent, and innovation-driven monetary leadership. The future of the dollar hinges not merely on economic fundamentals, but on consistent policy stewardship, institutional trust, and global cooperation.
Category: Economics and Finance
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