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Toward an Understanding of Economic Growth in Africa : A Re-Interpretation of the Lewis Model
Diao, Xinshen - 2015
Africa's recent economic growth is at a historical high. The patterns associated with this growth appear to be quite … of Africa's growth. One thing is clear: the recent growth is not well understood. Against this background, we adapt Lewis …'s (1954) dual-economy model to the economies of Africa to better understand the role that the “in-between” sector as defined …
Persistent link: https://www.econbiz.de/10013026305
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The Austrian Theory of the Marginal Use and of Ordinal Marginal Utility
Mcculloch, J. Huston - 2021
The Austrian theory of the "marginal use" is restated and extended. It is found that the Austrian concept of marginal …
Persistent link: https://www.econbiz.de/10013310605
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Capital Gains Taxation in an Economy with an "Austrian Sector"
Kovenock, Dan; Rothschild, Michael - 2021
This paper examines the effects of a proportional capital gains tax in an economy with an Austrian sector (with wine and trees) and an ordinary sector. We analyze the effect of capital gains taxation (on both an accrual and a realization basis) on the efficiency with which resources are used...
Persistent link: https://www.econbiz.de/10013249716
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Can a Rational Choice Framework Make Sense of Anorexia Nervosa?
Goldfarb, Robert S.; Leonard, Thomas C. (Tim); … - 2022
Can a rational choice modeling framework help broaden our understanding of anorexia nervosa? This question is interesting because anorexia nervosa is a serious health concern, and because of the following issue: could a rational choice approach shed useful light on a condition which appears to...
Persistent link: https://www.econbiz.de/10014209325
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How are Preferences Revealed?
Beshears, John - 2010
Revealed preferences are tastes that rationalize an economic agent's observed actions. Normative preferences represent the agent's actual interests. It sometimes makes sense to assume that revealed preferences are identical to normative preferences. But there are many cases where this assumption...
Persistent link: https://www.econbiz.de/10012759332
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Effects of Taxes on Economic Behavior
Feldstein, Martin S. - 2010
This paper discusses how the effects of taxes on economic behavior are important for revenue estimation, for calculating efficiency effects, and for understanding short-term macroeconomoic consequences. The primary focus is on taxes on labor income but some attention is given to taxes on income...
Persistent link: https://www.econbiz.de/10012759600
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Voting as a Rational Choice : Why and How People Vote to Improve the Well-Being of Others
Edlin, Aaron S. - 2010
For voters with quot;socialquot; preferences, the expected utility of voting is approximately independent of the size of the electorate, suggesting that rational voter turnouts can be substantial even in large elections. Less important elections are predicted to have lower turnout, but a...
Persistent link: https://www.econbiz.de/10012759742
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Psychology and Economics : Evidence from the Field
DellaVigna, Stefano - 2010
The research in Psychology and Economics (a.k.a. Behavioral Economics) suggests that individuals deviate from the standard model in three respects: (i) non-standard preferences; (ii) non-standard beliefs; and (iii) non-standard decision-making. In this paper, I survey the empirical evidence from...
Persistent link: https://www.econbiz.de/10012759819
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Portfolio Choices with Near Rational Agents : A Solution of Some International-Finance Puzzles
Benigno, Pierpaolo - 2010
prices that are useful to extract information on the degree of near-rationality present in the data …
Persistent link: https://www.econbiz.de/10012760047
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Rational Finite Bubbles
Allen, Franklin - 2010
There has been a long-running debate about whether stock market prices are determined by fundamentals. To date no consensus has been reached. An important issue in this debate concerns the circumstances in which deviations from fundamentals are consistent with rational behavior. A...
Persistent link: https://www.econbiz.de/10012763474