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Do animal spirits rely on somatic markers? Keynes in light of neuroscience
Lainé, Michael - In: Journal of Post Keynesian Economics 36 (2014) 3, pp. 439-466
Thanks to neuroscience, the brain is no longer a black box. It is possible to investigate its basic functioning and see …
Persistent link: https://www.econbiz.de/10010812122
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Do animal spirits rely on somatic markers? Keynes in light of neuroscience
Lainé, Michael - In: Journal of Post Keynesian Economics 36 (2014) 3, pp. 439-466
Thanks to neuroscience, the brain is no longer a black box. It is possible to investigate its basic functioning and see …
Persistent link: https://www.econbiz.de/10010759880
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The impossibility of rational consumer choice
Kapeller, Jakob; Schütz, Bernhard; Steinerberger, Stefan - In: Journal of Evolutionary Economics 23 (2013) 1, pp. 39-60
In this paper we show that a rational consumer choice along the lines traditionally suggested might lead to paradoxical results if one considers multidimensional goods, which incorporate a series of incommensurable aspects. Thereby, we explore the similarity between the resulting paradox and...
Persistent link: https://www.econbiz.de/10011001858
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THE NANOLEVEL OF ECONOMIC HIERARCHY
SHULTS D.N. - In: Вестник Пермского … (2014) 3, pp. 22-28
terms of hierarchical analysis. Behavioral economics denies the idea of economic agents rationality; evolutionism is based … on bounded rationality; neoinstitutionalism and ethical economics preserve the concept of rationality in the theory … developing criteria for rationality of higher orders (metarationality). Evolutionism rejects neoclassical economics and suggests …
Persistent link: https://www.econbiz.de/10011270686
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Evolutionary economics and household behavior
Horioka, Charles Yuji - In: Philippine Review of Economics 51 (2014) 2, pp. 67-82
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10011261245
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Emerging from crisis with new approaches to science of society
Bondrea, Aurelian; Mihoreanu, Larisa; Costea, Carmen; … - In: World Review of Entrepreneurship, Management and … 11 (2015) 2/3, pp. 172-185
The recurrence of economic crises serves to illustrate the limits of neoclassical economics and the contemporary established models. Modern-day economic developments are highly influenced by the theory of complexity. In terms of thermodynamics, the inputs of the process consists in economically...
Persistent link: https://www.econbiz.de/10011266499
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Rationality of expectations: comparison of neoclassical and evolutionary approaches
Tomczyk, Emilia - Zakład Ekonometrii Stosowanej, Szkoła Główna … - 2006
assumption: rationality of economic agents. It discusses role of rationality assumption in neoclassical and evolutionary theories …
Persistent link: https://www.econbiz.de/10005113461
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Economic emergence: An evolutionary economic perspective
Foster, John; Metcalfe, J. Stan - In: Journal of Economic Behavior & Organization 82 (2012) 2, pp. 420-432
The standard neoclassical approach to economic theorising excludes, by definition, economic emergence and the related phenomenon of entrepreneurship. We explore how the most economic of human behaviours, entrepreneurship, came to be largely excluded from mainstream economic theory. In contrast,...
Persistent link: https://www.econbiz.de/10010576973
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The Too-Important-to-Fail Conundrum; Impossible to Ignore and Difficult to Resolve
Ötker, Inci; Narain, Aditya; Ilyina, Anna; Surti, Jay - International Monetary Fund (IMF) - 2011
DISCLAIMER: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published...
Persistent link: https://www.econbiz.de/10011245890
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Capital Markets and Financial Intermediation in The Baltics
Sheridan, Niamh; Schipke, Alfred; George, Susan Mary; … - International Monetary Fund (IMF) - 2004
In just over a decade after independence, the three Baltic countries, Estonia, Latvia, and Lithuania, have transformed themselves into fully functioning, small open-market economies that will be joining the European Union. Capital Markets and Financial Intermediation in The Baltics analyzes the...
Persistent link: https://www.econbiz.de/10005248055