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1
Embedded Culture as a Source of Comparative Advantage
Guiso, Luigi
;
Sapienza, Paola
;
Zingales, Luigi
-
National Bureau of Economic Research
-
2024
This paper examines how the concept of embedded culture played a transformative role in the ongoing cultural revolution within economics and business. We trace the field's shift from the 20th-century concept of homo economicus universalis to an approach incorporating cultural embeddedness in...
Persistent link: https://www.econbiz.de/10015171671
Saved in:
2
The Cost of Complexity in Federal Student Aid : Lessons from Optimal Tax
Theory
and Behavioral Economics
Dynarski, Susan M.
-
2006
theory
and behavioral economics to show that complexity is a serious obstacle to both efficiency and equity in the …
Persistent link: https://www.econbiz.de/10012466441
Saved in:
3
Psychology and the Market
Glaeser, Edward L.
-
2004
Prospect
theory
, loss aversion, mental accounts, hyperbolic discounting, cues, and the endowment effect can all be seen …
Persistent link: https://www.econbiz.de/10012468491
Saved in:
4
An Economic
Theory
of Self-Control
Shefrin, H. M.
-
1977
us to draw on the
theory
of agency. We thus relate the individual's control problems with those that exist in agency …
Persistent link: https://www.econbiz.de/10012478927
Saved in:
5
A General Formula for the Optimal Level of Social Insurance
Chetty, Raj
-
2005
In an influential paper, Baily (1978) showed that the optimal level of unemployment insurance (UI) in a stylized static model depends on only three parameters: risk aversion, the consumption-smoothing benefit of UI, and the elasticity of unemployment durations with respect to the benefit rate....
Persistent link: https://www.econbiz.de/10012467297
Saved in:
6
Reconstructing Macroeconomic
Theory
to Manage Economic Policy
Stiglitz, Joseph E.
-
2014
asymmetric information, game
theory
, and behavioral economics …The paper argues that any
theory
of deep downturns has to answer these questions: What is the source of the …
Persistent link: https://www.econbiz.de/10012458148
Saved in:
7
Rating Agencies
Cole, Harold L.
-
2014
For decades credit rating agencies were viewed as trusted arbiters of creditworthiness and their ratings as important tools for managing risk. The common narrative is that the value of ratings was compromised by the evolution of the industry to a form where issuers pay for ratings. In this paper...
Persistent link: https://www.econbiz.de/10012458692
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8
Climate Change Policy : What Do the Models Tell Us?
Pindyck, Robert S.
-
2013
Very little. A plethora of integrated assessment models (IAMs) have been constructed and used to estimate the social cost of carbon (SCC) and evaluate alternative abatement policies. These models have crucial flaws that make them close to useless as tools for policy analysis: certain inputs...
Persistent link: https://www.econbiz.de/10012459418
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9
The Perils of the Learning Model For Modeling Endogenous Technological Change
Nordhaus, William D.
-
2009
Learning or experience curves are widely used to estimate cost functions in manufacturing modeling. They have recently been introduced in policy models of energy and global warming economics to make the process of technological change endogenous. It is not widely appreciated that this is a...
Persistent link: https://www.econbiz.de/10012464011
Saved in:
10
New Keynesian Models : Not Yet Useful for Policy Analysis
Chari, V.V.
-
2008
Macroeconomists have largely converged on method, model design, reduced-form shocks, and principles of policy advice. Our main disagreements today are about implementing the methodology. Some think New Keynesian models are ready to be used for quarter-to-quarter quantitative policy advice; we do...
Persistent link: https://www.econbiz.de/10012464338
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