We consider an artificial population of forward looking heterogeneous agents making decisions between schooling, employment, employment with training and household production, according to a behavioral model calibrated to a large set of stylized facts. Some of these agents are subject to policy...

While leading figures in the early history of economics conceived of it as inseparable from philosophy and other humanities, there has been movement, especially in recent decades, towards its becoming an essentially technical field with narrowly specialized areas of inquiry. Certainly,...

This article reviews some efficiency wage models, and traces their alternative methodological and theoretical foundations. First, a distinction is made between models based on methodological individualism, and models which, by taking the social determination of preferences seriously, go beyond...

The present paper is devoted to showing that all externalist explanations for truth in economics are false, but that if there any are used, it should not be the democratic one utilized by Rosen (1997). Rather, even though it is equally fallacious, it should the one proposed in the present paper:...

A substantial number of studies have extended the work on universal properties in physical systems to complex networks in social, biological, and technological systems. In this paper, we present a complex networks perspective on interfirm organizational networks by mapping, analyzing and...

Futures market performs an important function which is to provide effective hedging besides price discovery at distant future date to the market participants. The hedging effectiveness of the futures contract shows its utility in reducing the amount of risk. We estimated the effective hedge...