Social Norms Bounded Rationality And Optimal Contracts
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Social Norms Bounded Rationality And Optimal Contracts
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Author : Suren Basov
language : en
Publisher: Springer
Release Date : 2016-05-20
Social Norms Bounded Rationality And Optimal Contracts written by Suren Basov and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-20 with Business & Economics categories.
This book investigates the ways in which social norms and bounded rationality shape different contracts in the real world. It brings into focus existing research into optimal contracts, draws important lessons from that research, and outlines prospects for future investigation. Bounded rationality has acknowledged effects on the power of incentive provisions, such as deviations from sufficient statistic theorem, the power of optimal incentives, and the effects of optimal contracts in multicultural environments. The introduction of social norms to bounded rationality opens up new avenues of investigation into contracts and mechanism design. This book makes an important contribution to the study of bounded rationality by pulling together many separate strands of research in the area of mechanism design, and providing detailed analysis of the impact of societal values on contracts.
Optimal Monetary Policy Under Bounded Rationality
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Author : Jonathan Benchimol
language : en
Publisher: International Monetary Fund
Release Date : 2019-08-02
Optimal Monetary Policy Under Bounded Rationality written by Jonathan Benchimol and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-02 with Business & Economics categories.
The form of bounded rationality characterizing the representative agent is key in the choice of the optimal monetary policy regime. While inflation targeting prevails for myopia that distorts agents' inflation expectations, price level targeting emerges as the optimal policy under myopia regarding the output gap, revenue, or interest rate. To the extent that bygones are not bygones under price level targeting, rational inflation expectations is a minimal condition for optimality in a behavioral world. Instrument rules implementation of this optimal policy is shown to be infeasible, questioning the ability of simple rules à la Taylor (1993) to assist the conduct of monetary policy. Bounded rationality is not necessarily associated with welfare losses.
Islamic Microeconomics
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Author : Lukman Hanif Arbi
language : en
Publisher: Taylor & Francis
Release Date : 2023-11-01
Islamic Microeconomics written by Lukman Hanif Arbi and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-11-01 with Business & Economics categories.
This book bridges the gap between Islamic and conventional (micro)economics by demonstrating how modern tools and theories of microeconomics can be applied to Islamic assumptions regarding economics and finance. In contrast to the tendency for Islamic economics and finance proponents to use qualitative and normative approaches based on idealistic assumptions, this book demonstrates how one can instead construct analytical models of Islamic economics and finance and simply compare the implications with those predominant in today’s world. This book also offers extensive literature reviews demonstrating that for a long time, the gap between Islamic and conventional economics and finance is not as wide as previously thought, allowing those with an interest in both fields to participate more effectively and meaningfully in the ongoing discourse between the two fields. The authors conceptualize a general approach and apply it to basic consumer theory. More advanced microeconomic ideas are then discussed, culminating in demonstrations of how contract theory can facilitate a deeper analysis and appreciation of Islamic financial securities. A wide spectrum of academic literature on both Islamic and conventional economics and finance is drawn upon to facilitate a better appreciation for both fields and to inspire future works comparing the two in a more objective manner.
The Encyclopedia Of Public Choice
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Author : Charles Rowley
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-01-25
The Encyclopedia Of Public Choice written by Charles Rowley and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-01-25 with Business & Economics categories.
The Encyclopedia provides a detailed and comprehensive account of the subject known as public choice. However, the title would not convey suf- ciently the breadth of the Encyclopedia’s contents which can be summarized better as the fruitful interchange of economics, political science and moral philosophy on the basis of an image of man as a purposive and responsible actor who pursues his own objectives as efficiently as possible. This fruitful interchange between the fields outlined above existed during the late eighteenth century during the brief period of the Scottish Enlightenment when such great scholars as David Hume, Adam Ferguson and Adam Smith contributed to all these fields, and more. However, as intell- tual specialization gradually replaced broad-based scholarship from the m- nineteenth century onwards, it became increasingly rare to find a scholar making major contributions to more than one. Once Alfred Marshall defined economics in neoclassical terms, as a n- row positive discipline, the link between economics, political science and moral philosophy was all but severed and economists redefined their role into that of ‘the humble dentist’ providing technical economic information as inputs to improve the performance of impartial, benevolent and omniscient governments in their attempts to promote the public interest. This indeed was the dominant view within an economics profession that had become besotted by the economics of John Maynard Keynes and Paul Samuelson immediately following the end of the Second World War.
The Oxford Handbook Of Austrian Economics
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Author : Peter J. Boettke
language : en
Publisher: Oxford University Press
Release Date : 2015-09-01
The Oxford Handbook Of Austrian Economics written by Peter J. Boettke and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-01 with Business & Economics categories.
The Austrian School of Economics is an intellectual tradition in economics and political economy dating back to Carl Menger in the late-19th century. Menger stressed the subjective nature of value in the individual decision calculus. Individual choices are indeed made on the margin, but the evaluations of rank ordering of ends sought in the act of choice are subjective to individual chooser. For Menger, the economic calculus was about scarce means being deployed to pursue an individual's highest valued ends. The act of choice is guided by subjective assessments of the individual, and is open ended as the individual is constantly discovering what ends to pursue, and learning the most effective way to use the means available to satisfy those ends. This school of economic thinking spread outside of Austria to the rest of Europe and the United States in the early-20th century and continued to develop and gain followers, establishing itself as a major stream of heterodox economics. The Oxford Handbook of Austrian Economics provides an overview of this school and its theories. The various contributions discussed in this book all reflect a tension between the Austrian School's orthodox argumentative structure (rational choice and invisible hand) and its addressing of a heterodox problem situations (uncertainty, differential knowledge, ceaseless change). The Austrian economists from the founders to today seek to derive the invisible hand theorem from the rational choice postulate via institutional analysis in a persistent and consistent manner. Scholars and students working in the field of History of Economic Thought, those following heterodox approaches, and those both familiar with the Austrian School or looking to learn more will find much to learn in this comprehensive volume.
Behavioural Economics And Business Ethics
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Author : Philip Alexander Rajko
language : en
Publisher: Routledge
Release Date : 2013-03-01
Behavioural Economics And Business Ethics written by Philip Alexander Rajko and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-01 with Business & Economics categories.
Economics and moral philosophy have in recent years been considered to be distinct and separate fields. However, behavioural economics has started to reconcile various aspects of morality and economics, which has offered new conceptual opportunities to advance economics ethics and business ethics. This book aims to advance economic ethics and business ethics by combining normative principles and empirical evidence grounded on the key motivational forces in economic decision making. It has three core objectives: to assess order ethics as a theory of both economic ethics and business ethics, using behavioural economics methods and evidence; to identify cardinal virtues for modern business ethics; to to set up valuable guidelines for the implementation of economic ethics and business ethics.
The Rhetorical Construction Of Vegetarianism
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Author : Cristina Hanganu-Bresch
language : en
Publisher: Taylor & Francis
Release Date : 2023-03-02
The Rhetorical Construction Of Vegetarianism written by Cristina Hanganu-Bresch and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-02 with Science categories.
This book explores themes in the rhetoric of vegetarian discourse. A vegan practice may help mitigate crises such as climate change, global health challenges, and sharpening socioeconomic disparities, by ensuring both fairness in the treatment of animals and food justice for marginalized populations. How the message is spread is crucial for these aims. Vegan practices thus uncover tensions between individual dietary choices and social justice activism, between ego and eco, between human and animal, between capitalism and environmentalism, and within the larger universe of theoretical and practical ethics. The chapters apply rhetorical methodologies to understand vegan/vegetarian discourse, emphasizing, for example, vegan/vegetarian rhetoric through the lens of polyphony, the role of intersectional rhetoric in becoming vegan, as well as ecofeminist, semiotic, and discourse theory approaches to veganism. The book aims to show that a rhetorical understanding of vegetarian and vegan discourse is crucial for the goals of movements promoting veganism. The book is intended for a wide interdisciplinary audience of scholars, researchers, and individuals interested in veganism, food and media studies, rhetorical studies, human-animal studies, cultural studies and related disciplines. It urges readers to examine vegan discourses seriously, not just as a matter of personal choice or taste but as one vital for intersectional justice and our planetary survival.
Comparative Remedies For Breach Of Contract
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Author : Nili Cohen
language : en
Publisher: Bloomsbury Publishing
Release Date : 2005-02-28
Comparative Remedies For Breach Of Contract written by Nili Cohen and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-02-28 with Law categories.
The book provides a comparative analysis of the law relating to remedies for breach of contract. It examines different remedies such as specific performance and damages,doing so from the viewpoint of different legal systems, principally the English, American, German, French and Israeli. Each essay is written by a recognised specialist in his or her own field. Topics covered include the relationship between substantive rights and contract remedies, the recent reforms of the law relating to breach of contract in Germany, the remedies in the context of a third party beneficiary and the extent to which a claimant can choose the remedy which he or she deems to be the most appropriate. The book also makes use of a range of techniques, particularly economic analysis, when examining the legal rules. The book contains an introductory essay written by the editors and an essay by Professor Friedman, which deals with the relationship between substantive rights and contract remedies.
A Companion To Business Ethics
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Author : Robert E. Frederick
language : en
Publisher: John Wiley & Sons
Release Date : 2008-04-15
A Companion To Business Ethics written by Robert E. Frederick and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04-15 with Business & Economics categories.
In a series of articles specifically commissioned for this volume, some of today's most distinguished business ethicists survey the main areas of interest and concern in the field of business ethics. Sections of the book cover topics such as the often easy relation between business ethics and capitalism, the link between business ethics and ethical theory, how ethics applies to specific problems in the business world, the connection between business ethics and related academic disciplines, and the practice of business ethics in modern corporations. Includes extensive, accessible discussion of all of the main areas of interest and debate in business ethics Features all original contributions by distinguished authors in business ethics Includes an annotated table of contents, bibliographies of the relevant literature and a list of internet sources of material on business ethics Perfect, comprehensive book for use in business ethics courses
Rational Choice
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Author : Jon Elster
language : en
Publisher: NYU Press
Release Date : 1986-11
Rational Choice written by Jon Elster and has been published by NYU Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986-11 with Political Science categories.
This series brings together a carefully edited selection of the most influential and enduring articles on central topics in social and political theory. Each volume contains ten to twelve articles and an introductory essay by the editor.