Download or read book Essays on Choice and Matching Under Information Asymmetry written by Gregory M. Lewis and published by . This book was released on 2007 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Journal of Economic Literature written by and published by . This book was released on 2007 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Paradoxes written by Terry Horgan and published by Oxford University Press. This book was released on 2017 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together many of Terence Horgan's essays on paradoxes: Newcomb's problem, the Monty Hall problem, the two-envelope paradox, the sorites paradox, and the Sleeping Beauty problem. Newcomb's problem arises because the ordinary concept of practical rationality constitutively includes normative standards that can sometimes come into direct conflict with one another. The Monty Hall problem reveals that sometimes the higher-order fact of one's having reliably received pertinent new first-order information constitutes stronger pertinent new information than does the new first-order information itself. The two-envelope paradox reveals that epistemic-probability contexts are weakly hyper-intensional; that therefore, non-zero epistemic probabilities sometimes accrue to epistemic possibilities that are not metaphysical possibilities; that therefore, the available acts in a given decision problem sometimes can simultaneously possess several different kinds of non-standard expected utility that rank the acts incompatibly. The sorites paradox reveals that a certain kind of logical incoherence is inherent to vagueness, and that therefore, ontological vagueness is impossible. The Sleeping Beauty problem reveals that some questions of probability are properly answered using a generalized variant of standard conditionalization that is applicable to essentially indexical self-locational possibilities, and deploys "preliminary" probabilities of such possibilities that are not prior probabilities. The volume also includes three new essays: one on Newcomb's problem, one on the Sleeping Beauty problem, and an essay on epistemic probability that articulates and motivates a number of novel claims about epistemic probability that Horgan has come to espouse in the course of his writings on paradoxes. A common theme unifying these essays is that philosophically interesting paradoxes typically resist either easy solutions or solutions that are formally/mathematically highly technical. Another unifying theme is that such paradoxes often have deep-sometimes disturbing-philosophical morals.
Download or read book The Matching Law written by Richard J. Herrnstein and published by Harvard University Press. This book was released on 1997 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: This impressive collection features Richard Herrnstein's most important and original contributions to the social and behavioral sciences--his papers on choice behavior in animals and humans and on his discovery and elucidation of a general principle of choice called the matching law. In recent years, the most popular theory of choice behavior has been rational choice theory. Developed and elaborated by economists over the past hundred years, it claims that individuals make choices in such a way as to maximize their well-being or utility under whatever constraints they face; that is, people make the best of their situations. Rational choice theory holds undisputed sway in economics, and has become an important explanatory framework in political science, sociology, and psychology. Nevertheless, its empirical support is thin. The matching law is perhaps the most important competing explanatory account of choice behavior. It views choice not as a single event or an internal process of the organism but as a rate of observable events over time. It states that instead of maximizing utility, the organism allocates its behavior over various activities in exact proportion to the value derived from each activity. It differs subtly but significantly from rational choice theory in its predictions of how people exert self-control, for example, how they decide whether to forgo immediate pleasures for larger but delayed rewards. It provides, through the primrose path hypothesis, a powerful explanation of alcohol and narcotic addiction. It can also be used to explain biological phenomena, such as genetic selection and foraging behavior, as well as economic decision making.
Download or read book Three Essays in International Finance written by Byong-Ju Lee and published by Stanford University. This book was released on 2011 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of three essays on international finance. The first essay is "Exchange rates and Fundamentals". A new open interest rate parity condition that takes account of economic fundamentals is developed from stochastic discount factors (SDFs) of two countries. Through this parity condition, business cycles or fundamentals are linked to exchange rates. Key empirical findings from this parity condition are as follows. First, this model beats the random walk hypothesis: economic fundamentals explain exchange rate movements for high interest rate currencies. Exchange rates of low interest rate currencies act like a random walk because they are less correlated with fundamentals owing to their low risk. For example, U.S. business cycles explain the direction of changes in exchange rates against the dollar. The same thing is true for Japan. Second, this model resolves the forward premium puzzle: the forward premium puzzle is not a general characteristic as regarded in previous studies. It happens when the risk awareness of investors is low, during economic expansions and for low risk currencies. The second essay is "Carry Trade and Global Financial Instability". Carry trade, an opportunistic investment strategy that takes advantage of interest rate differential across countries, is identified the cause of the large-scale depreciations of peripheral currencies in the later half of 2008. A simultaneous equations model, which is derived from a conceptual partial equilibrium model for a local foreign exchange market, is estimated from a cross-sectional sample. The results suggest that the larger appreciation of the yen than the dollar was brought about by a lack of the local supply of the yen rather than a more severe crunch of yen credits. The third essay is "The Economic Origin of Letters of Credit". This essay discusses the economic origin of letters of credit, an instrument widely used in international trade. A game theoretical analysis shows that letters of credit improve efficiency in trade settlements, increasing returns in trade. A few notable facts on letters of credit are discussed. First, the new institution is adopted by merchant banks to maximize their profits and in the process, an improvement in efficiency of international transactions is obtained. Second, the organization established by the legacy institution, bills of exchange, played a critical role in adopting the new institution. Third, the legal enforcement is not essential in this economic institution. Finally, two drivers are identified that improve efficiency of transactions: concentration and projection.
Download or read book Game Theory written by Steven N. Durlauf and published by Springer. This book was released on 2016-07-14 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
Download or read book Economic Ideas You Should Forget written by Bruno S. Frey and published by Springer. This book was released on 2017-03-08 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reporting on cutting-edge advances in economics, this book presents a selection of commentaries that reveal the weaknesses of several core economics concepts. Economics is a vigorous and progressive science, which does not lose its force when particular parts of its theory are empirically invalidated; instead, they contribute to the accumulation of knowledge. By discussing problematic theoretical assumptions and drawing on the latest empirical research, the authors question specific hypotheses and reject major economic ideas from the “Coase Theorem” to “Say’s Law” and “Bayesianism.” Many of these ideas remain prominent among politicians, economists and the general public. Yet, in the light of the financial crisis, they have lost both their relevance and supporting empirical evidence. This fascinating and thought-provoking collection of 71 short essays written by respected economists and social scientists from all over the world will appeal to anyone interested in scientific progress and the further development of economics.
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2008 with total page 688 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Tax timing Options written by Chʻang-su Kim and published by . This book was released on 1991 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Peterson s Graduate Programs in the Humanities Arts and Social Sciences 1996 written by Peterson's Guides and published by Peterson Nelnet Company. This book was released on 1995-12-17 with total page 1510 pages. Available in PDF, EPUB and Kindle. Book excerpt: Graduate students depend on this series and ask for it by name. Why? For over 30 years, it's been the only one-stop source that supplies all of their information needs. The new editions of this six-volume set contain the most comprehensive information available on more than 1,500 colleges offering over 31,000 master's, doctoral, and professional-degree programs in more than 350 disciplines.New for 1997 -- Non-degree-granting research centers, institutes, and training programs that are part of a graduate degree program.Five discipline-specific volumes detail entrance and program requirements, deadlines, costs, contacts, and special options, such as distance learning, for each program, if available. Each Guide features The Graduate Adviser, which discusses entrance exams, financial aid, accreditation, and more.The most exhaustive compilation of more than 10,000 programs in subject areas ranging from applied arts, architecture, and Hispanic studies to political science.
Download or read book The Behavioral Economics of Brand Choice written by G. Foxall and published by Springer. This book was released on 2007-06-27 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text presents a cutting edge approach to the analysis of brand choice, relevant to marketing practice and social science. This analysis reveals the causes of consumer choice that underlie brand selection; the role of price and non-price elements of marketing; a new way of describing the structure of markets and analyzing consumer behaviour.
Download or read book Essays on Contemporary Psychometrics written by L. Andries van der Ark and published by Springer Nature. This book was released on 2023-03-17 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book 'Essays on Contemporary Psychometrics' provides an overview of contemporary psychometrics, the science devoted to the advancement of quantitative measurement practices in psychology, education and the social sciences. The volume consists of four parts, each having several chapters on cutting-edge work in the field. Part I, General Perspectives on Psychometrics, includes expert views on topics such as psychological models vs. measurement models, using tests in decision making, artificial intelligence, and psychometric network models. Part II, Factor Analysis and Classical Test Theory, the type of psychometrics that is still used most often in the social and behavioral sciences, includes state-of-the-art contributions on test-score reliability, change-score reliability, handling missing data in principal component analysis, test equating, and conditional standard errors of measurement. Part III, Item Response Theory, the leading form of psychometrics in modern educational measurement, includes discussions of sampling from many conditional distributions, transparent score reporting, nonparametric item response theory, and targeted testing. Part IV, New Psychometrics, discusses recently developed ideas beyond classical test theory and item response theory, including topics related to computer adaptive testing, response-time modelling, validity indices, diagnostic classification models, and the sparse latent class model for ordinal measurements. Together, these four parts provide an overview of the current state-of-the-art in psychometrics in educational measurement. They are a valuable source of information for graduate students who (intend to) study psychometrics and need an overview of the field, and for researchers interested in the current developments in the field. Chapters [3], [5], [8], [16] and [19] are available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.
Download or read book Three essays on venture capital contracting written by Ibolya Schindele and published by Rozenberg Publishers. This book was released on 2005 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The International Encyclopedia of Language and Social Interaction 3 Volume Set written by Cornelia Ilie and published by John Wiley & Sons. This book was released on 2015-06-08 with total page 1676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Encyclopedia of Language and Social Interaction is an invaluable reference work featuring contributions from leading global scholars, available both online and as a three-volume print set. The definitive international reference work on a topic of major and increasing importance, in a new series of sub-disciplinary international encyclopedias Provides state-of-the-art research for scholars in a highly interactive and accessible format, available both online and as a three-volume print set Covers key research topics in the field with contributions from a team of experienced, global editors Successfully brings into a single source, explication of all of the fascinating and ground-breaking Language and Social Interaction work developing globally and across subjects Part of The Wiley Blackwell-ICA International Encyclopedias of Communication series, published in conjunction with the International Communication Association. Online version available at www.wileyicaencyclopedia.com
Download or read book Dynamism Rivalry and the Surplus Economy written by János Kornai and published by Oxford University Press. This book was released on 2013-11-06 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Dynamism, Rivalry, and the Surplus Economy, János Kornai examines capitalism as an economic system and in comparison to socialism. Kornai explains his view of capitalism as an economy of surplus--a chronic excess of supply of goods and labor. This environment breeds rivalry among producers, which in turn encourages innovation. Socialism, on the other hand, is defined by a shortage of goods and labor and excess of demand. Whereas socialism is slothful and imitative, capitalism is dynamic and progressive. The two essays of this book will explore these differing ideologies on macro and micro levels, ending with definitive explanations of how the systems work and how they develop.
Download or read book Economic Analysis and Policy written by and published by . This book was released on 1992 with total page 730 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book American Doctoral Dissertations written by and published by . This book was released on 2002 with total page 776 pages. Available in PDF, EPUB and Kindle. Book excerpt:
