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This paper provides a unified framework for interpreting a wide range of interactions models which have appeared in the economics literature. A formalization taken from the statistical mechanics literature is shown to encompass a number of socioeconomic phenomena ranging from out of wedlock...
Persistent link: https://www.econbiz.de/10013218553
This paper provides a unified framework for interpreting a wide range of interactions models which have appeared in the economics literature. A formalization taken from the statistical mechanics literature is shown to encompass a number of socioeconomic phenomena ranging from out of wedlock...
Persistent link: https://www.econbiz.de/10012473099
Persistent link: https://www.econbiz.de/10001661486
Policy researchers — and think tanks — are rarely evaluated in terms of the results of their endeavors. This is the case despite the fact that American society tends to rank most everything from the reputation of physicians to the number of books an author sells, from football players to the...
Persistent link: https://www.econbiz.de/10012932218
Persistent link: https://www.econbiz.de/10003266648
Persistent link: https://www.econbiz.de/10001378884
A decision maker tests whether the gradient of the loss function evaluated at a judgmental decision is zero. If the … test does not reject, the action is the judgmental decision. If the test rejects, the action sets the gradient equal to the … boundary of the rejection region. This statistical decision rule is admissible and conditions on the sample realization. The …
Persistent link: https://www.econbiz.de/10013243823
whether the classical approach or the Bayesian approach is more frequently used in the strategic management decision …-making literature. A sample of 51 decision-related articles is collected from the Strategic Management Journal and provides for … examines decision-making in strategic management and places emphasis on increasing the use of the Bayesian approach as a …
Persistent link: https://www.econbiz.de/10014140967
Persistent link: https://www.econbiz.de/10003314806
Four types of economicsʺ relevant for institutional analysis are distinguished: Standard Neoclassical Economics; Socio-Economics or Social Economics; New Institutional Economics; and Psychological Economics (often misleadingly called Behavioural Economics). The paper argues that an extension of...
Persistent link: https://www.econbiz.de/10003872188