Javier Parra | Digital economy and finance

Individualistic and Collectivistic Cultures

14 May, 202614 May, 2026 by Javier Parra

Javier Parra

9

Cultures can be classified as either individualistic or collectivistic, and these classifications help us understand the differences in social and professional behaviour across various countries. Below are the characteristics of each type of culture.   Individualistic Cultures   A lower power distance characterises individualistic cultures; the more individualistic a culture…

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Uncertainty Avoidance and Work

14 August, 202525 September, 2025 by Javier Parra

Javier Parra

108

Uncertainty avoidance is a cultural concept that significantly influences the workplace. It describes how a society or culture deals with situations it perceives as uncertain, ambiguous, or unknown. This avoidance manifests in different ways in companies and in the way people work. Cultures with High Uncertainty Avoidance In cultures with…

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Pricing Strategies and Policies: Price Decisions

7 August, 202515 September, 2025 by Javier Parra

Javier Parra

89

In pricing strategies and policies, price is one of the most critical variables in the marketing mix, as it directly impacts a company's revenue and profitability. Making the right pricing decisions is fundamental to market success. What Is Price? Traditionally, price is narrowly defined as the amount of money a…

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Richard Stone, winner of the 1984 Nobel Prize in Economics

27 May, 202130 June, 2021 by Javier Parra

Javier Parra

495

On 18 October 1984, the Royal Swedish Academy of Sciences awarded the London economist Richard Stone the Nobel Prize in Economics for "work of fundamental importance for the development of national accounting systems, which has radically improved the basis of empirical economic analysis". He was born on 30 August 1931…

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Gérard Debreu, winner of the 1983 Nobel Prize in Economics

20 May, 202130 June, 2021 by Javier Parra

Javier Parra

416

The economist Gérard Debreu was awarded the 1983 Nobel Prize in Economics for his work "introducing new analysis methods in economic theory and for a rigorous reformulation of the theory of general equilibrium". This brilliant economist was born in Calais on 4 July 1921, and it was in Calais that…

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Statistical and graphical analysis: univariate analysis

18 February, 202123 April, 2021 by Javier Parra

Javier Parra

605

When we talk about univariate analysis, we will normally find elements such as: Histograms.Percentiles: The percentile (or centile) is the value of the variable below which a certain percentage of observations fall; for example, the 20th percentile is the value (or score) below which 20 per cent of the observations…

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Introduction to econometrics. Economic modelling

15 February, 202123 April, 2021 by Javier Parra

Javier Parra

489

Before talking about economic modelling, it is necessary to understand what an econometric model is. Econometrics cannot explain perfectly the phenomena that occur in simple words. The best we can do is to use models, i.e. simplified representations of real phenomena. Economic modelling Where ω is the (logarithmic) wage, x…

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Introduction to econometrics. Essential mathematics and statistics

11 February, 202123 April, 2021 by Javier Parra

Javier Parra

678

To talk about an introduction to econometrics, it is necessary to establish the mathematical and statistical foundations to understand it. Starting from the summation: Econometric summation The symbol Σ is the Greek capital letter sigma and means "the sum of".The letter i is called the summation index; this letter is arbitrary and…

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The marketing plan

14 December, 202021 April, 2021 by Javier Parra

Javier Parra

377

In the marketing plan, the analysis, the strategies and the resulting decisions are specified. These proposals for plan study, implementation and control do not follow a strict order but are an iterative, circular and sequential process. In the planning stage, the analysis is carried out, the strategy is chosen, and…

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The circular economy: Introduction

23 November, 202021 April, 2021 by Javier Parra

Javier Parra

525

Although the circular economy concept is not entirely new, it has gained a lot of momentum among both scholars and practitioners. Yet, its critics claim that it can mean many different things to different people. Today the concept has become popular, especially with the promotion of the concept by the…

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