This paper, following McGoun's (1997) seminal article comparing the economy of financial securities to a hyperreal poker game, argues that finance and accounting researchers should take the “linguistic turn” that has rejuvenated theory and research in many, if not most, of the social science...

Professor W. B. Reddaway (known to friends and colleagues as Brian Reddaway) was an exceptional economist who had a huge influence on how economics in Cambridge has been taught and researched. He held leadership positions in the Faculty of Economics and Politics at Cambridge for 25 years,...

Economic education experiences only low significance in German secondary education curricula, academia is often the first formal encounter with economic theory and thinking. This applies not only to students majoring in economics but also to the much larger group of non-economic majors. This...

This educational resource utilizes the Essential Scholars series published by the Fraser Institute and combines it with the Kahoot! learning platform to promote deeper learning. The nine Essential Scholars (Adam Smith, David Ricardo, David Hume, John Locke, Joseph Schumpeter, James Buchanan,...

For the last forty years, efficiency theorists have attempted to demonstrate that tort liability in general and negligence liability in particular can best/only be explained by the hypothesis that judges are trying to maximize aggregate social welfare. Thirty years ago I published a pair of...

Over the last decade a new consensus model has emerged in monetary macroeconomics, labelled New Keynesian macroeconomics (Clarida et al., 1999). It consists of three simple building blocs: a forward-looking IS-equation that is derived from the optimization problem of a representative household,...

While the IS/LM-AS/AD model is still the central tool of macroeconomic teaching it has been criticised by several economists. The model is unable to deal with a monetary policy that uses the interest rate as its operating target ( Romer [2000]). Walsh [2002] has criticised that it is not suited...

Media markets recently have been identified as multisided markets. The application of the theory of multisided markets provides a better understanding of such markets. It enriched the hitherto economic approach and led to new insights and perspectives especially for the antitrust authorities...

This review paper articulates the relationship between prediction market data and event studies, with a special focus on applications in political economy. Event studies have been used to address a variety of political economy questions - from the economic effects of party control of government...