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The article proofs K. J. Arrows introduction of 'communication' in general equilibrium analysis. His theory of 'convergencs of beliefs' is incomplete. Rational choice has to be redesigned by a new relationsship of preferences and semantics, without probability-codes. Using 'communication',...
Persistent link: https://www.econbiz.de/10005027171
Persistent link: https://www.econbiz.de/10009391249
Newly-developed large language models (LLM)--because of how they are trained and designed--are implicit computational models of humans--a homo silicus. LLMs can be used like economists use homo economicus: they can be given endowments, information, preferences, and so on, and then their behavior...
Persistent link: https://www.econbiz.de/10014250140
's historically used methodology, correctly understood. However, because the European CVAR approach requires explicit researcher …
Persistent link: https://www.econbiz.de/10005082999
We develop a comprehensive quantitative account of changing practices in economics in the last 122 years. The analysis uses word detection algorithms to partially characterize prevailing practices. We document a shift toward isolation from other disciplines during most of the twentieth century....
Persistent link: https://www.econbiz.de/10010839351
While hypothesis testing is a highly formalized activity, hypothesis generation remains largely informal. We propose a systematic procedure to generate novel hypotheses about human behavior, which uses the capacity of machine learning algorithms to notice patterns people might not. We illustrate...
Persistent link: https://www.econbiz.de/10014247938
This article describes methods used in the field of spatial economics that combine insights from economic theory and evidence from data in order to answer counter- factual questions. I outline a general framework that emphasizes three elements: a specific question to be answered, a set of...
Persistent link: https://www.econbiz.de/10013334493
This essay is a comment on“The Citation Impact of Feminist Economics”by Frances Woolley, which appeared in Feminist Economics, Vol. 11, No. 3, November 2005. This contribution comments on Frances Woolley's recent Feminist Economics article, “The Citation Impact of Feminist Economics.” It...
Persistent link: https://www.econbiz.de/10005484790
Feminist economics is a transformative project. However, transformation generates resistance. Feminist economics can be deliberately excluded, co-opted through an uncritical application of rational choice theory, or ignored. And feminist economics can be listened to: when the United Nations...
Persistent link: https://www.econbiz.de/10005446601
This paper examines the role of cooperativeness and impatience in the exploitation of common pool resources (CPRs) by combining laboratory experiments with field data. We study fishermen whose main, and often only, source of income stems from the use of fishing grounds with open access. The...
Persistent link: https://www.econbiz.de/10010577645