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Homo Sapiens in the Captivity of Economics or about Watching of the (Right) Utility
Kovanicová, Dana - In: Český finanční a účetní časopis 2010 (2010) 2, pp. 94-99
Review informs on the book and its individual chapters commented by wider notes. States, that the central idea of the entire work is finding answers to the question, what is the relationship between the economies and good for an individual and between economics and welfare good. It appreciates...
Persistent link: https://www.econbiz.de/10011194766
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Expectations in Experiments
Wagener, Florian - In: Annual Review of Economics 6 (2014) 1, pp. 421-443
The rational expectations hypothesis is one of the cornerstones of current economic theorizing. This review discusses a number of experiments that focus on expectation formation by human subjects in a number of learning-to-forecast experiments and analyzes the implications for the rational...
Persistent link: https://www.econbiz.de/10010886204
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Expectation Formation and Monetary DSGE Models: Beyond the Rational Expectations Paradigm
Milani, Fabio; Rajbhandari, Ashish - Department of Economics, University of California-Irvine - 2012
Empirical work in macroeconomics almost universally relies on the hypothesis of rational expectations. This paper departs from the literature by considering a variety of alternative expectations formation models. We study the econometric properties of a popular New Keynesian monetary DSGE model...
Persistent link: https://www.econbiz.de/10010959982
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Monetary Policy with Imperfect Knowledge
Williams, Athanasios Orphanides amd John - Society for Computational Economics - SCE - 2001
This paper studies the formulation of monetary policy in a changing environment when knowledge regarding some aspects of the structure of the economy is imperfect and an adaptive learning technology is available to the policymaker and economic agents. As a benchmark, we develop a simple model of...
Persistent link: https://www.econbiz.de/10005170604
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Experiments on predictions
Brennscheidt, Gunnar - University of Bonn, Germany
Persistent link: https://www.econbiz.de/10005028369
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Expectations in Experiments
Wagener, Florian - Tinbergen Instituut - 2013
The rational expectations hypothesis is one of the cornerstones of current economic theorising. This review discusses a number of experiments that focus on expectation formation by human subjects and analyses the implications for the rational expectations hypothesis. The experiments show that...
Persistent link: https://www.econbiz.de/10011257595
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On utilitarianism vs virtue ethics as foundations of economic choice theory
Jonsson, Petur O. - In: Humanomics: The International Journal of Systems and Ethics 27 (2011) February, pp. 24-40
utilitarianism vs virtue ethics as foundations of economic choice theory. Findings – Economic choice theory describes consumer choice …Purpose – Economic choice theory is built on utilitarian foundations. The purpose of this paper is to explore whether a …. The consumers' dynamic optimization problem, as outlined by traditional theory, is unsolvable in the sense that it …
Persistent link: https://www.econbiz.de/10009643853
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Wirtschaftsnobelpreis 1995 für Robert E. Lucas
Schreiber, Carsten - In: ifo Dresden berichtet 02 (1995) 06, pp. 34-35
Der Bericht stellt den Wirtschaftsnobelpreis 1995 für Robert E. Lucas zur Diskussion. Dabei wird die Entwicklung der Forschungsinhalte des Preisträgers gewürdigt. Bekanntgeworden ist Robert Lucas in den siebziger Jahren neben der Übertragung der rationalen Erwartungen auf die Makroökonomik...
Persistent link: https://www.econbiz.de/10005037085
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Produits appropries et developpement egalitaire.
C, Baron; W, Van Ginneken - International Labour Organization (ILO), United Nations - 1982
ILO pub. Article reviewing the findings of case studies of consumer behaviour with a view to testing the validity of certain assumptions regarding consumer efficiency, effects of choice of technology and choice of product and the availability of labour intensive techniques in Bangladesh,...
Persistent link: https://www.econbiz.de/10010690072
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How should income be divided? questionnaire evidence from the theory of “Impartial preferences”
Bernasconi, Michele - In: Journal of Economics 77 (2002) 1, pp. 163-195
utilitarianism (David Hume 1740, Adam Smith 1759). We provide questionnaire evidence that, although there is a strong affinity … welfare function. In fact, we found violations of utilitarianism qualitatively similar to those against the expected utility …
Persistent link: https://www.econbiz.de/10010987633