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The Freedom of the Prices : Hayek and Jewkes on Egalitarianism and Freedom of Occupation

Makovi, Michael - 2016

Milton Friedman (1962) famously argued there can be no freedom of speech where the government owns the printing presses. According to Friedman, political freedom presupposes economic freedom. Less well-known are F. A. Hayek's and John Jewkes's illustrations of the same principle, both drawing...

Persistent link: https://www.econbiz.de/10014124897

Let's Take the Bias Out of Econometrics

Qin, Duo - 2017

This study exposes the specious quality of ‘endogeneity bias'. It reviews how conceptualisation of the bias has evolved to embrace all major econometric problems, despite extensive lack of hard evidence. It reveals the crux of the bias – a priori rejection, as conditionally invalid, of...

Persistent link: https://www.econbiz.de/10012965988

Agent-Based Computational Economics (ACE) and African Modelling : Perspectives and Challenges

Nwaobi, Godwin Chukwudum - 2011

In recent years, the government, of African Countries has assumed major responsibilities for economic reforms and growth. In attempting to describe their economies, economists (policymakers) in many African Countries have applied certain models that are by now widely known: Linear programming...

Persistent link: https://www.econbiz.de/10013117492

Time to Demystify Endogeneity Bias

Qin, Duo - 2015

This study exposes the flaw in defining endogeneity bias by correlation between an explanatory variable and the error term of a regression model. Through dissecting the links which have led to entanglement of measurement errors, simultaneity bias, omitted variable bias and self-selection bias,...

Persistent link: https://www.econbiz.de/10013013051

Asset Price Trend Theory : Reframing Portfolio Theory from the Ground Up

Dubois, Robert - 2013

Traditional portfolio optimization models specify placement of capital as rather irrevocably and fully at risk through investment horizon(s) or continuously. Under this constraint, asset class allocation typically serves as primary mode of diversification, pursuing risk moderation by seeking to...

Persistent link: https://www.econbiz.de/10013084090

Further to Asset Price Trend Theory : Decision Making, Optimization, Fears and Aspirations, and Notions of Market Efficiency

Dubois, Robert - 2014

the constraint that assets be fully and continuously invested is inconsistent with basic decision theory, as it disallows … in finance. We herein explore implications for the traditional ‘52'59 Markowitz approach to portfolio theory when the … incomplete Markowitz model. Relative to “Asset Price Trend Theory: Reframing portfolio theory from the ground up” (Dubois [2013 …

Persistent link: https://www.econbiz.de/10013049923

Can we reform capitalism for its own good? : a roadmap to sustainability

Guttmann, Robert - In: PSL quarterly review 76 (2023) 304, pp. 67-88

program must also address the transformational requirements of the moment. France's Régulation Theory (RT) can be quite …

Persistent link: https://www.econbiz.de/10014318321

Against the Grain : Insight from an Economic Contrarian

Ormerod, Paul - 2021

In the summer of 2012, I was invited to write a weekly opinion column for City A.M. newspaper. It is a free, business-focused newspaper, launched in 2005, and is distributed at more than 250 commuter hubs across London and the Home Counties, as well as 1,600 offices throughout the City, Canary...

Persistent link: https://www.econbiz.de/10013224808

Ludwig von Mises and Classical Liberalism

Schearer, Michael - 2021

In studying the development of western freedoms, perhaps no subject is more worthy of discussion than classical liberalism, which the late historian Ralph Raico wrote was “the signature political philosophy of Western Civilization.” Raico defined classical liberalism as “the ideology...

Persistent link: https://www.econbiz.de/10013247112

Subjective Political Economy

Allen, Darcy W E - 2018

We extend the Institutional Possibility Frontier (IPF) — a theoretical framework depicting the institutional trade-offs between the dual costs of dictatorship and disorder (Djankov et al. 2003) — by incorporating the notion of subjective costs. The costs of institutional choice are not...

Persistent link: https://www.econbiz.de/10012935975