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The Origin of Prospect Theory, or Testing the Intuitive Statistician

Heukelom, Floris - 2005

The origin of prospect theory is the desire to test the intuitive statistician in the real world. The development of … this theory by the cognitive psychologists Kahneman and Tversky can be traced to the former's work in cognitive … psychophysics, in which deviations from average behavior are termed (statistical) errors; and the latter's work on decision theory …

Persistent link: https://www.econbiz.de/10010325337

Keynes' Überlegungen zu unternehmerischem Handeln unter Unsicherheit

Hecker, Christian - In: Wirtschaftsdienst 101 (2021) 4, pp. 299-304

Aus Sicht von Keynes hängt das Erfolgspotenzial der Marktwirtschaft nicht nur von der staatlichen Wirtschaftspolitik ab, sondern ebenso vom Wirken vorausschauender Unternehmer:innen. Diese sollen sich seiner Meinung nach dadurch auszeichnen, dass sie trotz allgegenwärtiger Unsicherheit...

Persistent link: https://www.econbiz.de/10012606071

Fundamental uncertainty, portfolio choice, and liquidity preference theory

Pasche, Markus - 2009

One of Keynes' core issues in his liquidity preference theory is how fundamental uncertainty affects the propensity to …

Persistent link: https://www.econbiz.de/10010267088

Fundamental uncertainty, portfolio choice, and liquidity preference theory

Pasche, Markus - 2009

One of Keynes’ core issues in his liquidity preference theory is how fundamental uncertainty affects the propensity to …

Persistent link: https://www.econbiz.de/10010299492

Is neoclassical economics still entrepreneurless?

Bianchi, Milo; Henrekson, Magnus - 2005

We review and evaluate some recent contributions on the modeling of entrepreneurship within a neoclassical framework, analyzing how and to what extent the fundamental ingredients suggested in the social science literature were captured. We show how these approaches are important in stressing the...

Persistent link: https://www.econbiz.de/10010281398

Mythical Ages and Methodological Strictures - Joan Robinson's Contributions to the Theory of Economic Growth

Skott, Peter - 2004

This paper considers some methodological aspects of Joan Robinson's contribution to post-Keynesian growth theory. Joan …

Persistent link: https://www.econbiz.de/10010456990

Anfänge der amtlichen Statistik und der Sozialberichterstattung: die "politische Arithmetik“

Wagner, Gert G. - 2015

Mit seinem Hauptwerk "Political Arithmetick" legte William Petty die Grundlage der modernen Sozial- und Wirtschaftsstatistik und der soziologischen Sozial-Berichterstattung. Sein Begriff der "politischen Arithmetik" konnte sich allerdings gegen den vom europäischen Kontinent stammenden Begriff...

Persistent link: https://www.econbiz.de/10010478865

Hayek Reads the Literature on the Emergence of Norms

Andreozzi, Luciano - 2005

Hayek's approach to cultural and institutional evolution has been frequently criticized because it is explicitly based on the controversial notion of (cultural) group selection. In this paper this criticism is rejected on the basis of recent works on biological and cultural evolution. The...

Persistent link: https://www.econbiz.de/10010261518

Liquidity preference theory revisited: to ditch or to build on it?

Bibow, Jörg - 2005

This paper revisits Keynes's liquidity preference theory as it evolved from the Treatise on Money to The General Theory … and after, with a view of assessing the theory's ongoing relevance and applicability to issues of both monetary theory and … policy. Contrary to the neoclassical special case interpretation, Keynes considered his liquidity preference theory of …

Persistent link: https://www.econbiz.de/10010266545

Psychology and economics rather than psychology versus economics: cultural differences but no barriers!

Brandstätter, Hermann; Güth, Werner; Kliemt, Hartmut - 2008

During the last three decades the ascent of behavioral economics clearly helped to bring down artificial disciplinary boundaries between psychology and economics. Noting that behavioral economics seems still under the spell of the rational choice tradition and, indirectly, of behaviorism we...

Persistent link: https://www.econbiz.de/10010266656