This paper discusses the ways by which a certain type of behavioral deviation from expected utility theory has been handled by psychologists and economists. With respect to the historical background of decision theory in economics, it is argued that there are good reasons for more theoretical...

This is the front matter from a book of interviews to be published by Blackwell. The book is coedited by W. A. Barnett and P. A. Samuelson. The front matter includes the Table of Contents, Coeditor Preface by W. A. Barnett, Coeditor Foreword by Paul A. Samuelson, and History of Thought...

William Vickrey, Nobel Laureate in 1996, made many significant contributions to economics. Paradoxically, his work can be considered both as the epitome of orthodoxy and as profoundly heterodox. This article reviews some of Vickrey’s major writings in fields as varied as the macroeconomics of...

Currently, the companies are obvious changes in activity mode of organization, type of development, behaviour towards the environment. There are different views about the causes of these changes, but all the authors mentioned globalization as one of the causes. Focused on the relationship...

This paper points out that the treatment of utility maximization in current textbooks on microeconomic theory is deficient in at least three respects: breadth of coverage, completeness-cum-coherence of solution methods and mathematical correctness. Improvements are suggested in the form of a...

This paper shows a new optical visualization of demand and supply based on the application of surfaces. The objective of initiating the demand and supply surfaces is to propose the application of multi-dimensional graphs among academics, economists and policy makers in the study of...

Bob Gregory contrasts ‘the presuppositions of Royal Parade’ of 1950 Melbourne with the present outlook of himself and Australia at large. He outlines the evolution of his methodological position from the University of Melbourne student to the Canberra policy advisor, and defends that...

A more careful use of language in economics education will prove to be a valuable piece of equipment for the next generation of economists. With relatively little effort, educators can greatly improve economics courses by insisting on a more precise use of words. By critically discussing the...