Results 1 to 10 of about 859 (172)
Œconomia, 2017 Behavioral economics has enriched our understanding of the limitations and imperfections of human decision-making that were neglected by the overly simplistic neoclassical model of choice.
Mark D. White
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Are Labor Supply Decisions Consistent with Neoclassical Preferences? Evidence from Indian Boat Owners [PDF]
SSRN Electronic Journal, 2016 This paper studies the labor supply of South Indian boat owners using daily labor participation decisions of 249 boat owners during seven years. It tests the standard neoclassical model of labor supply, which predicts that (i) individuals should be more likely to work when earnings are temporarily high and (ii) recent accumulated earnings should play ...
Xavier Giné +2 more
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Ethical Preferences and the Assessment of Existence Values: Does the Neoclassical Model Fit? [PDF]
Northeastern Journal of Agricultural and Resource Economics, 1986 Some of the implications of ethical preferences for traditional welfare analyses of existence values are discussed in this paper and illustrated with a lexicographic model for preference structures. Although willingness-to-pay and willingness-to-sell are well-defined, their connection with Hicksian surpluses is lost when a person is motivated by an ...
Steven F. Edwards
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Nudges, preferences and competences: a critique of both neoclassical and behavioral economics [PDF]
Behavioural Public PolicyAbstractFor all their differences, the two rival theories of human behavior have many unfortunate similarities. Standard rational choice theory posits that individuals use rational techniques to pick ends that meet their set of private preferences. Modern theories of behavioral economics point to systematic deviations from those principles.
Richard A. Epstein
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The Pure Time Preference Theory: A Neoclassical Critique
SSRN Electronic Journal, 2016 The pure time preference theory of Ludwig von Mises and Murray N. Rothbard is a cornerstone of the Austrian theory of interest. In the past, several attempts were made to demonstrate that this theory might be inconsistent. In this paper, the original Bohm-Bawerk theory is illustrated in a simple neoclassical model, and it is shown that there might be a
Pavel Potužák
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International Journal of Sustainable Development & World Policy, 2015 This study builds a model to analyze dynamic interdependence between economic growth, structural change, inequality in income and wealth, habit formation and preference change in a heterogeneous-households economy. The analytical framework is based on the Walrasian general equilibrium theory and the neoclassical growth theory.
Wei‐Bin Zhang
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SSRN Electronic Journal, 2017 Keynes made it crystal clear in his comments on the draft copy of Pigou’s future 1937 article in the Economic Journal that Pigou’s fundamental error was to have two different theories of the rate of interest, one determined by the demand and supply of money, and the other one determined by the amount of spending out of current income on consumption and
Michael Emmett Brady
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Journal of the History of Economic Thought, 2008 Don Ross' recent book Economic Theory and Cognitive Science (2005) provides an elaborate philosophical defense of neoclassical economics. He argues that the central features of neoclassical theory are associated with what he calls the Robbins-Samuelson argument pattern (RASP) and that it can be reconciled with recent developments in experimental and ...
D. Wade Hands
+5 more sources
Review: Sustainable livestock systems: anticipating demand-side challenges
Animal, 2021 A sustainable livestock economy depends on both production and consumption, inextricably linked in local, national and global markets. At each scale, technical innovation and production practices need to respond to evolving demand for both market and non-
D. Moran, K.J. Blair
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A Growth Theory Based on Walrasian General Equilibrium, Solow-Uzawa Growth, and Heckscher-Ohlin Trade Theories [PDF]
Interdisciplinary Description of Complex Systems, 2018 The purpose of this study is to analyse the role of preferences and technological differences between countries in determining dynamics of capital accumulation, wealth and income distribution within countries and between countries, and patterns of trade ...
Wei-Bin Zhang
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