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models of risk preferences — including both expected utility (EU) theory and non-EU models — that have been estimated using …
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It is the basic proposition of this paper that the problem with marginal cost theory (Coase, 1946) cannot be adequately … the entrepreneurial effort. Unlike the efficient markets of neoclassical theory, relational contracting can produce a …
Persistent link: https://www.econbiz.de/10013023302
We examine, with the tools of economics, a fundamental tenet of some of the most recent theoretical work in sociology, which we refer to as the Postmodernist Critique : preferences are socially constructed, firms exploit their monopoly power through advertising in order to create new (false)...
Persistent link: https://www.econbiz.de/10014025697
Production functions provide a mapping from the firms' input quantity and productivity to output quantity. This mapping only generates unbiased estimates if input and output quality variation within and between observation units is accounted for. I review and classify state-of-the-art methods to...
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This paper studies a scenario - one of the six problems with Austrian Business Cycle theory raised by Hummel (1979 …
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Theory on the grounds that our conception of capital and “roundaboutness”. In this comment we explain why we think this … criticism is wrong …
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