Download or read book The Curious Culture of Economic Theory written by Ran Spiegler and published by . This book was released on 2024 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "One economist's reflections on the professional culture of economic theory"--
Download or read book The Curious Culture of Economic Theory written by Ran Spiegler and published by MIT Press. This book was released on 2024-04-16 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essay collection that insightfully explores the professional culture of contemporary economic theory, highlighting key features of successful economic theory from the last quarter century. When is a theoretical result taken seriously enough for economic application? How do theorists actively try to influence this judgment? What determines whether a new theoretical subfield adopts a “pure” or an “applied” style? How do theorists respond to economists’ penchant for “rational” explanations of human behavior? These are just some of the questions regarding the professional culture of contemporary economic theory that Ran Spiegler attempts to answer in this incisive essay collection, The Curious Culture of Economic Theory. In exploring these questions, Spiegler addresses the norms that economic theorists apply as they produce, evaluate, and disseminate research. Introducing a new genre—a kind of cultural criticism of economic theory—the essays in this unique collection highlight elements of style and rhetoric that characterize classic pieces of economic theory from the last quarter century. For each piece, Spiegler offers a precise yet accessible exposition of modern classics of economic theory while placing them in the broader context of the field’s professional culture. Affectionate in its criticism and anthropological in its approach, The Curious Culture of Economic Theory is as valuable a complement to standard textbooks in graduate-level economic theory, game theory, and behavioral economics as it is to the libraries of practicing economic theorists, academic economists, historians of economic thought, and philosophers of economics.
Download or read book How Economics Became a Mathematical Science written by E. Roy Weintraub and published by Duke University Press. This book was released on 2002-05-28 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: In How Economics Became a Mathematical Science E. Roy Weintraub traces the history of economics through the prism of the history of mathematics in the twentieth century. As mathematics has evolved, so has the image of mathematics, explains Weintraub, such as ideas about the standards for accepting proof, the meaning of rigor, and the nature of the mathematical enterprise itself. He also shows how economics itself has been shaped by economists’ changing images of mathematics. Whereas others have viewed economics as autonomous, Weintraub presents a different picture, one in which changes in mathematics—both within the body of knowledge that constitutes mathematics and in how it is thought of as a discipline and as a type of knowledge—have been intertwined with the evolution of economic thought. Weintraub begins his account with Cambridge University, the intellectual birthplace of modern economics, and examines specifically Alfred Marshall and the Mathematical Tripos examinations—tests in mathematics that were required of all who wished to study economics at Cambridge. He proceeds to interrogate the idea of a rigorous mathematical economics through the connections between particular mathematical economists and mathematicians in each of the decades of the first half of the twentieth century, and thus describes how the mathematical issues of formalism and axiomatization have shaped economics. Finally, How Economics Became a Mathematical Science reconstructs the career of the economist Sidney Weintraub, whose relationship to mathematics is viewed through his relationships with his mathematician brother, Hal, and his mathematician-economist son, the book’s author.
Download or read book The Theory of Learning in Games written by Drew Fudenberg and published by MIT Press. This book was released on 1998 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work explains that equilibrium is the long-run outcome of a process in which non-fully rational players search for optimality over time. The models they e×plore provide a foundation for equilibrium theory and suggest ways for economists to evaluate and modify traditional equilibrium concepts.
Download or read book Advanced Microeconomics for Contract Institutional and Organizational Economics written by W. Bentley MacLeod and published by MIT Press. This book was released on 2022-04-05 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: A graduate textbook on microeconomics, covering decision theory, game theory, and the foundations of contract theory, with a unique focus on the empirical. This graduate-level text on microeconomics, covering such topics as decision theory, game theory, bargaining theory, contract theory, trade under asymmetric information, and relational contract theory, is unique in its emphasis on the interplay between theory and evidence. It reviews the microeconomic theory of exchange “from the ground up,” aiming to produce a set of models and hypotheses amenable to empirical exploration, with particular focus on models that are useful for the study of contracts, institutions, and organizations. It explores research that extends price theory to the exchange of commodities when markets are incomplete, discussing recent developments in the field. Topics covered include the relationship between theory and evidence; decision theory as it is used in contract theory and institutional design; game theory; axiomatic and strategic bargaining theory; agency theory and the class of models that are considered to constitute contract theory, with discussions of moral hazard and trade with asymmetric information; and the theory of relational contracts. The final chapter offers a nontechnical review that provides a guide to which model is the most appropriate for a particular application. End-of-chapter exercises help students expand their understanding of the material, and an appendix provides brief introduction to optimization theory and the welfare theorem of general equilibrium theory. Students are assumed to be familiar with general equilibrium theory and basic constrained optimization theory.
Download or read book Imperfect Markets and Imperfect Regulation written by Thomas-Olivier Leautier and published by MIT Press. This book was released on 2019-03-19 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first textbook to present a comprehensive and detailed economic analysis of electricity markets, analyzing the tensions between microeconomics and political economy. The power industry is essential in our fight against climate change. This book is the first to examine in detail the microeconomics underlying power markets, stemming from peak-load pricing, by which prices are low when the installed generation capacity exceeds demand but can rise a hundred times higher when demand is equal to installed capacity. The outcome of peak-load pricing is often difficult to accept politically, and the book explores the tensions between microeconomics and political economy. Understanding peak-load pricing and its implications is essential for designing robust policies and making sound investment decisions. Thomas-Olivier Léautier presents the model in its simplest form, and introduces additional features as different issues are presented. The book covers all segments of electricity markets: electricity generation, under perfect and imperfect competition; retail competition and demand response; transmission pricing, transmission congestion management, and transmission constraints; and the current policy issues arising from the entry of renewables into the market and capacity mechanisms. Combining anecdotes and analysis of real situations with rigorous analytical modeling, each chapter analyzes one specific issue, first presenting findings in nontechnical terms accessible to policy practitioners and graduate students in management or public policy and then presenting a more mathematical analytical exposition for students and researchers specializing in the economics of electricity markets and for those who want to understand and apply the underlying models.
Download or read book Bounded Rationality written by Sanjit Dhami and published by MIT Press. This book was released on 2022-07-12 with total page 553 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two leaders in the field explore the foundations of bounded rationality and its effects on choices by individuals, firms, and the government. Bounded rationality recognizes that human behavior departs from the perfect rationality assumed by neoclassical economics. In this book, Sanjit Dhami and Cass R. Sunstein explore the foundations of bounded rationality and consider the implications of this approach for public policy and law, in particular for questions about choice, welfare, and freedom. The authors, both recognized as experts in the field, cover a wide range of empirical findings and assess theoretical work that attempts to explain those findings. Their presentation is comprehensive, coherent, and lucid, with even the most technical material explained accessibly. They not only offer observations and commentary on the existing literature but also explore new insights, ideas, and connections. After examining the traditional neoclassical framework, which they refer to as the Bayesian rationality approach (BRA), and its empirical issues, Dhami and Sunstein offer a detailed account of bounded rationality and how it can be incorporated into the social and behavioral sciences. They also discuss a set of models of heuristics-based choice and the philosophical foundations of behavioral economics. Finally, they examine libertarian paternalism and its strategies of “nudges.”
Download or read book Culture and Economic Action written by Laura E. Grube and published by Edward Elgar Publishing. This book was released on 2015-06-29 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume, a collection of both theoretical essays and empirical studies, presents an Austrian economics perspective on the role of culture in economic action. The authors illustrate that culture cannot be separated from economic action, but t
Download or read book A New Economic Theory of Public Support for the Arts written by Arnaldo Barone and published by Routledge. This book was released on 2015-12-14 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should the arts receive public support? Can the arts survive in a modern capitalist society? Can economics shed light on the nature of public support, and whether there is a rationale for public intervention? This book undertakes to examine these questions as it explores the ways government and public resources are used to support the arts. This book applies a Veblenian approach to understanding economic development to investigate public support for the arts in an effort to determine whether this approach can elucidate economic rationales for public support. Divided into three parts, the first provides basic information on public support for the arts by surveying support in the United States and Australia. Part two includes a neoclassical overview of the topic while part three presents Veblen’s ideas on economic development. This book will be of interests to researchers concerned with cultural and institutional economics, as well as political economy.
Download or read book Repeated Games and Reputations written by George J. Mailath and published by Oxford University Press. This book was released on 2006-09-28 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt: Personalized and continuing relationships play a central role in any society. Economists have built upon the theories of repeated games and reputations to make important advances in understanding such relationships. Repeated Games and Reputations begins with a careful development of the fundamental concepts in these theories, including the notions of a repeated game, strategy, and equilibrium. Mailath and Samuelson then present the classic folk theorem and reputation results for games of perfect and imperfect public monitoring, with the benefit of the modern analytical tools of decomposability and self-generation. They also present more recent developments, including results beyond folk theorems and recent work in games of private monitoring and alternative approaches to reputations. Repeated Games and Reputations synthesizes and unifies the vast body of work in this area, bringing the reader to the research frontier. Detailed arguments and proofs are given throughout, interwoven with examples, discussions of how the theory is to be used in the study of relationships, and economic applications. The book will be useful to those doing basic research in the theory of repeated games and reputations as well as those using these tools in more applied research.
Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.
Download or read book Culture in the Age of Three Worlds written by Michael Denning and published by Verso Books. This book was released on 2020-05-05 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last half of the twentieth century, culture moved to the foreground of political and intellectual life. Suddenly everyone discovered that culture had been mass produced like Ford's cars; the masses had culture and culture had a mass. Culture was everywhere, no longer the property of the cultured or the cultivated. Radical social movements around the globe invented a politics of culture. Culture In the Age of Three Worlds is a reflection on this cultural turn which was a fundamental aspect of the age of three worlds, that short half century between 1945 and 1989 when it was imagined that the world was divided into three-the capitalist first world, the communist second world, and the decolonizing third world. Recasting the legacies of British cultural studies and the radical traditions of the American studies movement in a global context, Michael Denning explores the political and intellectual battles over the meanings of culture, addresses the rise of a distinctive 'American ideology,' and charts the lineaments of the global cultures that emerged as three worlds gave way to one.
Download or read book Sacred Economics written by Charles Eisenstein and published by North Atlantic Books. This book was released on 2011-07-12 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sacred Economics traces the history of money from ancient gift economies to modern capitalism, revealing how the money system has contributed to alienation, competition, and scarcity, destroyed community, and necessitated endless growth. Today, these trends have reached their extreme—but in the wake of their collapse, we may find great opportunity to transition to a more connected, ecological, and sustainable way of being. This book is about how the money system will have to change—and is already changing—to embody this transition. A broadly integrated synthesis of theory, policy, and practice, Sacred Economics explores avant-garde concepts of the New Economics, including negative-interest currencies, local currencies, resource-based economics, gift economies, and the restoration of the commons. Author Charles Eisenstein also considers the personal dimensions of this transition, speaking to those concerned with "right livelihood" and how to live according to their ideals in a world seemingly ruled by money. Tapping into a rich lineage of conventional and unconventional economic thought, Sacred Economics presents a vision that is original yet commonsense, radical yet gentle, and increasingly relevant as the crises of our civilization deepen. Sacred Economics official website: http://sacred-economics.com/
Download or read book Routledge Handbook of the History of Global Economic Thought written by Vincent Barnett and published by Routledge. This book was released on 2014-08-27 with total page 493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge Handbook of the History of Global Economic Thought offers the first comprehensive overview of the long-run history of economic thought from a truly international perspective. Although globalization has facilitated the spread of ideas between nations, the history of economics has tended to be studied either thematically (by topic), in terms of different currents of thought, or individually (by economist). Work has been published in the past on the economic thought traditions of specific countries, but this pioneering volume is unique in offering a wide-ranging comparative account of the development of economic ideas and philosophies on the international stage. The volume brings together leading experts on the development of economic ideas from across the world in order to offer a truly international comparison of the economics within nation-states. Each author presents a long-term perspective on economics in their region, allowing global patterns in the progress of economic ideas over time to be identified. The specially commissioned chapters cover the vast sweep of the history of economics across five world regions, including Europe (England, Scotland, Ireland, Italy Greece, Spain, Portugal, Germany, Sweden, Russia and the Ukraine), the Americas (the USA, Canada, Mexico and Central America, Spanish-Speaking South America, Brazil and the Caribbean), the Middle East (Turkey, Israel, Arab-Islamic Economics, Persia/Iran, North Africa), Africa (West Africa, Southern Africa, Mozambique and Angola), and the Asia-Pacific Region (Australia and New Zealand, China, Southeast Asia, the Asian Tigers, India.) This rigorous, ambitious and highly scholarly volume will be of key interest to students, academics, policy professionals and to interested general readers across the globe.
Download or read book The Shock Doctrine written by Naomi Klein and published by Metropolitan Books. This book was released on 2010-04-01 with total page 721 pages. Available in PDF, EPUB and Kindle. Book excerpt: The bestselling author of No Logo shows how the global "free market" has exploited crises and shock for three decades, from Chile to Iraq In her groundbreaking reporting, Naomi Klein introduced the term "disaster capitalism." Whether covering Baghdad after the U.S. occupation, Sri Lanka in the wake of the tsunami, or New Orleans post-Katrina, she witnessed something remarkably similar. People still reeling from catastrophe were being hit again, this time with economic "shock treatment," losing their land and homes to rapid-fire corporate makeovers. The Shock Doctrine retells the story of the most dominant ideology of our time, Milton Friedman's free market economic revolution. In contrast to the popular myth of this movement's peaceful global victory, Klein shows how it has exploited moments of shock and extreme violence in order to implement its economic policies in so many parts of the world from Latin America and Eastern Europe to South Africa, Russia, and Iraq. At the core of disaster capitalism is the use of cataclysmic events to advance radical privatization combined with the privatization of the disaster response itself. Klein argues that by capitalizing on crises, created by nature or war, the disaster capitalism complex now exists as a booming new economy, and is the violent culmination of a radical economic project that has been incubating for fifty years.
Download or read book The Theory of Political Economy written by William Stanley Jevons and published by New York, A.M. Kelley. This book was released on 1965 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Socialism Sucks written by Robert Lawson and published by Simon and Schuster. This book was released on 2019-07-30 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: The bastard step-child of Milton Friedman and Anthony Bourdain, Socialism Sucks is a bar-crawl through former, current, and wannabe socialist countries around the world. Free market economists Robert Lawson and Benjamin Powell travel to countries like Venezuela, Cuba, Russia, and Sweden to investigate the dangers and idiocies of socialism—while drinking a lot of beer.
