Economics and Methodology: Crossing Boundaries by Roger E. Backhouse, Daniel M. Hausman, Uskali Mäki, Andrea

By Roger E. Backhouse, Daniel M. Hausman, Uskali Mäki, Andrea Salanti

Roger E. Backhouse, Daniel M. Hausman, Uskali Mäki, Andrea Salanti (eds.)

This quantity brings economics and method nearer jointly via a chain of six methodological case reports, each one of that is mentioned via practitioner within the appropriate box, and a consultant in method. the target is a greater knowing of economics as a systematic self-discipline and insights into the way in which methodological dialogue can tell perform. one of the subject matters mentioned are: video game thought, externalities, loose using, involuntary unemployment, the talk over stabilization coverage, and the idea of shopper call for.

Show description

Read or Download Economics and Methodology: Crossing Boundaries PDF

Best economics books

A Blueprint for Better Banking: Svenska Handelsbanken and a proven model for more stable and profitable banking

'A Blueprint for larger Banking' takes a clean examine the monetary trouble. It units out to reply to particularly what the errors have been that banks made and the way this would were kept away from. what's specific approximately this ebook is a close description of a big financial institution that operates very another way from its friends and that has, for this reason, prompt away from the parts that experience introduced many different banks into hassle. this gives a couple of insights into how a extra resilient, post-credit crunch banking process should still look.

the 1st part starts off with an summary of latest causes of the main issue and why they continue to be partially unsatisfactory. It then units out another framework established round seven behavioural styles of imprudent banking. those 'Seven lethal Sins' have prompted so much banking crises, together with the present one, and whereas they arrive in several shapes and varieties they continue to be basically a similar. This e-book examines why they continue to be super tempting to bankers, usually with the enthusiastic aid in their shareholders and no significant objection by means of regulators.

the second one and major a part of the ebook is a brand new and large description of the administration practices at Svenska Handelsbanken, one of many best 25 banks in Europe. It not just survived the Swedish banking situation within the Nineties with no requesting aid, however it has additionally remained sturdy throughout the most recent hindrance. Handelsbanken didn't have to elevate capital or ask for presidency help and its stocks were the easiest acting ecu financial institution inventory via a large margin.

The financial institution has commonly been run by means of administration practices which are diametrically against so-called 'best practice' within the undefined. The publication investigates how Handelsbanken operates with no bonuses and examines their specified business enterprise, approach dialogue, possibility administration and capital markets communique. In influence, the publication describes how Handelsbanken guarantees that it doesn't fall for any of the Seven lethal Sins. Niels Kroner has carried out over fifty interviews with Handelsbanken executives and opponents, and likewise attracts on his within adventure of many different associations to carry out the real modifications among the 'Handelsbanken way' and customary practices at different banks.

the ultimate half summarises what different banks and fiscal associations can examine from Handelsbanken and the way its version could supply an answer that different power regulatory adjustments might not.

Prosperity without Growth: Economics for a Finite Planet

Is extra financial development the answer? Will it convey prosperity and health for an international inhabitants projected to arrive 9 billion? during this explosive e-book, Tim Jackson, a most sensible sustainability adviser to the united kingdom govt, makes a compelling case opposed to persevered financial progress in constructed countries.

No one denies that improvement is key for poorer countries. yet within the complex economies there's mounting facts that ever-increasing intake provides little to human happiness and will even abate it. extra urgently, it really is now transparent that the ecosystems that maintain our economies are collapsing lower than the affects of emerging intake. except we will be able to considerably decrease the environmental influence of financial activity – and there's no facts to signify that we can – we are going to need to devise a route to prosperity that doesn't depend upon persevered progress.

Economic heresy? Or a chance to enhance the resources of health, creativity and lasting prosperity that lie outdoors the area of the industry? Tim Jackson presents a reputable imaginative and prescient of ways human society can flourish in the ecological limits of a finite planet. pleasurable this imaginative and prescient is just the main pressing job of our instances.

This publication is a considerably revised and up to date model of Jackson's arguable learn for the Sustainable improvement fee, an advisory physique to the united kingdom govt. The learn quickly grew to become the main downloaded file within the Commission's 9 yr background whilst it was once introduced prior in 2009.

Ten percent of the proceeds from the sale of this e-book can be donated to rainforest safety

This paperback version contains a new foreword through HRH The Prince of Wales

Schätz- und Kontrolltheorie in stetigen dynamischen Wirtschaftsmodellen mit System- und Beobachtungsfehlern

Die vorliegende Arbeit entstand wahrend meiner Tatigkeit am Seminar fUr konometrie und Statistik der Universitat MUnchen. Herrn Professor Dr. Eberhard M. Fels gilt mein besonderer Dank. Er hat mein Interesse auf die Gebiete der konometrie und der mathemati schen konomik gelenkt. Stets aufgeschlossen, hat er mir wertvolle Hilfe und Anregungen gege ben.

Extra resources for Economics and Methodology: Crossing Boundaries

Sample text

Thus, the players will never coordinate given these prior beliefs. How can the Bayesian learning approach be interpreted in view of the discussion in Section 2? The approach is certainly rationalistic and common knowledge does not play any role. Is this then the ultimate justification for the Nash equilibrium concept that satisfies even the naive form of PI? The critical point in the evaluation seems to be how to interpret the grain of truth assumption that is imposed on the players' priors. One common idea is that priors are subjective and this would be in line with PL However, the second example shows that the priors in K&L's approach cannot just be any subjective priors, because for arbitrary subjective priors their result will not hold.

Roughly speaking, they show that players will eventually predict the future play of their opponent almost correctly. As players maximize discounted pay-offs, this implies that their strategies will eventually 18 Individualism and Equilibrium Coordination in Games come close to a Nash equilibrium of the repeated game. Formally, the assumption K&L use to obtain this result is that the combination of strategies that is actually played is absolutely continuous with respect to the players' prior beliefs.

Each player must decide on what to play or expect on an individual basis' (p. 75). 12 A classic example is the question where two foreigners visiting New York City would go in case they have lost each other and they want to meet each other as soon as possible. There is a wide variety of possible alternatives from returning to the spot they were last together, to many tourist places such as the Empire State Building or the 'Met'. Note that each of these alternatives is a Nash equilibrium strategy provided that the other player chooses the same alternative.

Download PDF sample

Rated 4.54 of 5 – based on 37 votes