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Author : Roger Clinton Tutterow
Publisher :
ISBN 13 :
Total Pages : 122 pages
Book Rating : 4.:/5 (23 download)
Download or read book Two Essays on Individual and Collective Choice Under Uncertainty written by Roger Clinton Tutterow and published by . This book was released on 1990 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Frank H. Knight
Publisher : Cosimo, Inc.
ISBN 13 : 1602060053
Total Pages : 401 pages
Book Rating : 4.6/5 (2 download)
Download or read book Risk, Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Author : Pradeep Singh
Publisher :
ISBN 13 :
Total Pages : 135 pages
Book Rating : 4.:/5 (898 download)
Download or read book Essays on Intertemporal Choice Under Uncertainty written by Pradeep Singh and published by . This book was released on 2014 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dissertation investigates intertemporal decision-making under uncertainty. In particular, I analyze how two traditionally under-explored sources of uncertainty affect trade-offs between the present and the future in making decisions: a) uncertainty of life, and b) strategic uncertainty in collective action dilemmas. Chapter 1 deals with the temporal dynamics of value in strategic interactions, and Chapter 2 extends the analysis to incorporate interaction between a homogeneous vis-à-vis a heterogeneous triad. Participants affiliated with different social groups at the University of Washington, Seattle, participated in a series of one-shot Voluntary Contribution Mechanism (VCM) games; the games extended the incentive structure of the VCM to decompose it into the relative temporal change in the public and private accounts, in addition to varying the social composition of the participating groups. Results from the experiment indicate that temporal delay is a significant factor in explaining voluntary contribution, with the outcomes being sensitive to the time horizon. To gauge the mechanisms of voluntary contribution with delayed rewards, the hypothesis as to whether expectation of how others' value the future affect one's own contribution was also tested. The results indicate that conditioning on our future self, how others value the future enters our calculus of voluntary contribution, but conditioning on our present self it has no effect. In "real life" settings, that benefits from cooperative behavior materialize in the near or distant future is perhaps the general rule. The proper functioning of markets is built upon cooperation between buyer and seller, the benefits of which are often realized in the future (for example, e-commerce or group buying schemes). The provision of public goods, whether it be providing immunization to a village, restoring a natural park, or contributing towards global public goods such as carbon offset projects - each have a temporal element embedded into them. In climate change and environmental negotiations, different countries with differing stated valuations of the future interact to provide a global public good, i.e. a habitable climate. Summers and Zeckhauser (2008) note that at International Panel of Climate Change (IPCC) negotiations, how to discount the future is always a thorny issue. Other real-life applications such as the contours of racism and the role of cliques in organizational behavior can also be better understood by unpacking the interaction between social and temporal preferences in collective action. Future studies confirming the robustness of the results, finding contradictory evidence, as well as testing hypothesis not found significant in the present study will be a fruitful line of inquiry. While there has been a plethora of studies on discounting behavior in individual decisions that have documented the phenomenon of present-bias (Kahneman, 1979; Frederick and Loewenstein, 2002), the results from the first two chapters contributes to the nascent literature in the field of discounting in strategic interactions that have been conducted to date by Deck and Jahedi (2013a, 2013b). Chapter 3 analyzes data from the World Bank Living Standard Measurement Survey (LSMS) conducted in Nepal (2003/04 and in 1995/96), in addition to the data on conflict measures collected by INSEC, a non-profit group promoting human rights, to gauge the effect of the "Maoist" civil war on agricultural household decision-making. Results indicate that in addition to causing the destruction of physical capital, life and the deterioration of social norms, the civil war was associated with changes in future-oriented decision making and inhibited household investments in the future. The evidence suggests that the civil conflict in Nepal further exacerbated the existing poverty levels by inhibiting investment levels further pushing households deeper in the chasm of a "poverty trap."
Author : Prasanta K. Pattanaik
Publisher : Oxford University Press, USA
ISBN 13 :
Total Pages : 404 pages
Book Rating : 4.3/5 ( download)
Download or read book Essays on Individual Decision Making and Social Welfare written by Prasanta K. Pattanaik and published by Oxford University Press, USA. This book was released on 2009-06-25 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: These essays by eminent economist Prasanta K. Pattanaik deal with two distinct areas. (i) the theory of decision making by individuals; and (ii) welfare economics and the theory of social choice. The papers in the first group are all concerned with situations outside the conventional frameworks of rational choice under perfect certainty and uncertainty. Essays in the second group are concerned with the classical problem of aggregation of preferences and welfare judgments. Some deal with the formal modeling of individual rights, and the measurement of freedom - concluding with measurement of living standards. The volume will be useful to researchers and students of welfare economics. Besides economists, students and teachers of psychology, political science, and philosophy will also find them of interest.
Author : Jeffrey Campbell Birchby
Publisher :
ISBN 13 :
Total Pages : 113 pages
Book Rating : 4.:/5 (856 download)
Download or read book Essays in Experimental Examinations of Decision Making with Uncertainty written by Jeffrey Campbell Birchby and published by . This book was released on 2013 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dissertation examines how individuals behave when facing choices with uncertainty, both within individual and group settings. These questions are probed by examining individuals in experimental situations, with payoffs depending partially upon the choices they make as well as some fundamental uncertainty. In particular, the research seeks to answer, to what extent do individuals consistently evaluate risky gambles, and how do individuals respond to group decisions with either an underlying unknown state and a policy whose payoff depends upon that state, or a coordination task. For both group tasks, the role of communication in overcoming uncertainty is studied. Within group settings, individuals were tasked with a Median game, a coordination problem with efficiency achieved only at an asymmetrical equilibrium, and an aggregation problem where groups would vote on a risky policy whose success depended upon an underlying state of the world that each member privately received signals about. For the Median game, communication results in large gains compared to the sessions with no communication; an effect that grew as play continued. The types of messages and strategies communicated are analyzed to see which were most effective. Within a group setting, individuals were given private signals about the probability of payoff-relevant states of the world with payoffs determined by the policy voted for by the group's majority. There was a strict incentive to aggregate information, however this was hindered by the inclusion of individual payoff biases, creating competing interests and raising a source for disinformation and thus distrust. The efficacy in achieving aggregation of various exogenously given networks was then tested. Within an individual setting, subjects evaluate scaled lottery questions with consistent aggregate responses that fit well within the established norms of Cumulative Prospect Theory. However, the aggregate data hide considerable individual inconsistency, with the individuals that fit best with a CPT interpretation those that are most variable and for which such a prediction would provide limited if any predictive power.
Author : Food and Agriculture Organization of the United Nations
Publisher : Food & Agriculture Org.
ISBN 13 : 9789251046296
Total Pages : 108 pages
Book Rating : 4.0/5 (462 download)
Download or read book Two Essays on Socio-economic Aspects of Soil Degradation written by Food and Agriculture Organization of the United Nations and published by Food & Agriculture Org.. This book was released on 2001 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents: Dirt poor: poverty, farmers and soil resource investment/ by Leslie Lipper; Methodological issues in analysing the linkages between socio-eocnomic and environmental systems/ by Dan Osgood and Leslie Lipper. Includes 1-page abstracts in French, Spanish and Arabic
Author : Jacques Drèze
Publisher : CUP Archive
ISBN 13 : 9780521386975
Total Pages : 460 pages
Book Rating : 4.3/5 (869 download)
Download or read book Essays on Economic Decisions Under Uncertainty written by Jacques Drèze and published by CUP Archive. This book was released on 1990-05-25 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professor Dreze is a highly respected mathematical economist and econometrician. This book brings together some of his major contributions to the economic theory of decision making under uncertainty, and also several essays. These include an important essay on 'Decision theory under moral hazard and state dependent preferences' that significantly extends modern theory, and which provides rigorous foundations for subsequent chapters. Topics covered within the theory include decision theory, market allocation and prices, consumer decisions, theory of the firm, labour contracts, and public decisions.
Author : Gerald Gaus
Publisher : Stanford University Press
ISBN 13 : 0804774641
Total Pages : 391 pages
Book Rating : 4.8/5 (47 download)
Download or read book Essays on Philosophy, Politics & Economics written by Gerald Gaus and published by Stanford University Press. This book was released on 2010-05-17 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together distinguished philosophers with interdisciplinary expertise to show how the resources of philosophy can be employed in the tasks of evaluating economics and fostering policy debates. Contributors offer analyses of basic ideas in economics, such as the notion of efficiency, "economic man", incentives, self-interest, and utility maximization. They discuss key concepts in political theory such as desert, compensation, autonomy, equality, consent or fairness. The book then offers examples of how philosophical resources can be applied to specific, timely debates, such as discrimination, affirmative action, and ethical considerations in Social Security. These applications demonstrate how philosophy, politics, and economics can be fruitfully combined, while the more theoretical chapters clarify fundamental relationships across these related disciplines. Ultimately, the text guides students and scholars in expanding their perspectives as they approach the necessarily complex research questions of today and tomorrow.
Author :
Publisher :
ISBN 13 :
Total Pages : 776 pages
Book Rating : 4.3/5 (91 download)
Download or read book American Doctoral Dissertations written by and published by . This book was released on 2002 with total page 776 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Daniel Kahneman
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (53 download)
Download or read book Prospect Theory written by Daniel Kahneman and published by . This book was released on 1979 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Louis Eeckhoudt
Publisher : Princeton University Press
ISBN 13 : 1400829216
Total Pages : 245 pages
Book Rating : 4.4/5 (8 download)
Download or read book Economic and Financial Decisions under Risk written by Louis Eeckhoudt and published by Princeton University Press. This book was released on 2011-10-30 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: An understanding of risk and how to deal with it is an essential part of modern economics. Whether liability litigation for pharmaceutical firms or an individual's having insufficient wealth to retire, risk is something that can be recognized, quantified, analyzed, treated--and incorporated into our decision-making processes. This book represents a concise summary of basic multiperiod decision-making under risk. Its detailed coverage of a broad range of topics is ideally suited for use in advanced undergraduate and introductory graduate courses either as a self-contained text, or the introductory chapters combined with a selection of later chapters can represent core reading in courses on macroeconomics, insurance, portfolio choice, or asset pricing. The authors start with the fundamentals of risk measurement and risk aversion. They then apply these concepts to insurance decisions and portfolio choice in a one-period model. After examining these decisions in their one-period setting, they devote most of the book to a multiperiod context, which adds the long-term perspective most risk management analyses require. Each chapter concludes with a discussion of the relevant literature and a set of problems. The book presents a thoroughly accessible introduction to risk, bridging the gap between the traditionally separate economics and finance literatures.
Author : Jac C. Heckelman
Publisher : Springer Science & Business Media
ISBN 13 : 3540247114
Total Pages : 297 pages
Book Rating : 4.5/5 (42 download)
Download or read book Collective Choice written by Jac C. Heckelman and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive insight into Mancur Olson's work as well as extensions and applications of his work. Chapters cover three main areas: Collective Action, Institutional Sclerosis and Market-Augmenting Government. Some chapters directly assess Olson`s contributions, focusing on distinguishing what was original in his works from what was already in the literature, and assess his impact on the fields of public economics and economic history. Other chapters present new tests and frequently extend his work. Each of the chapters is a new piece of scholarship inspired by and intended to honor Mancur Olson, and extend his influence to another generation of Collective Choice scholars and researchers.
Author : James R. DeLisle
Publisher : Springer Science & Business Media
ISBN 13 : 1461517036
Total Pages : 444 pages
Book Rating : 4.4/5 (615 download)
Download or read book Essays in Honor of James A. Graaskamp: Ten Years After written by James R. DeLisle and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the title indicates, Essays in Honor of James A. Graaskamp: Ten Years After, is a collection of essays written to honor Graaskamp's major contributions to the field of real estate education and practice over the course of three decades. Upon his death in 1988, the industry lost a major influence for advancing the real estate discipline, both as an academic field and a professional field. The authors in this volume seek to extend Graaskamp's contributions and move the real estate discipline forward. The papers address the challenges posed by the market to return our attention to real estate fundamentals, and to strike a proper balance between Main Street and Wall Street. The authors and editors hope that this book will influence the industry to incorporate many of Grasskamp's ideas into mainstream real estate education and practice. Over the course of his career, Graaskamp made many noteworthy contributions to real estate theory and practice, ideas that if resurrected could offset some of the pressure in the industry to move away from market fundamentals. The authors try to capture the essence of Graaskamp's messages, and intend that the papers serve as a point of departure for discussing the future role and nature of real estate education. Part I focuses on the major contributions to the real estate discipline made by Graaskamp and the Wisconsin Real Estate Program. Part II contains some personal recollections and photos of Graaskamp, and also a summary of the groups that make up the Wisconsin Real Estate Program, a major co-sponsor of this volume. The rest of the book's three main parts are structured around major topics that reflect the multidisciplinary nature of real estate as espoused by Graaskamp. Part III treats real estate feasibility and development, Part IV concentrates on real estate valuation, and Part V discusses institutional economics.
Author : Ghita Holmström-Hintikka
Publisher : Springer Science & Business Media
ISBN 13 : 940100630X
Total Pages : 282 pages
Book Rating : 4.4/5 (1 download)
Download or read book Collected Papers of Stig Kanger with Essays on his Life and Work Volume II written by Ghita Holmström-Hintikka and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stig Kanger (1924-1988) made important contributions to logic and formal philosophy. Kanger's dissertation Provability in Logic, 1957, contained significant results in proof theory as well as the first fully worked out model-theoretic interpretation of quantified modal logic. It is generally accepted nowadays that Kanger was one of the originators of possible worlds semantics for modal logic. Kanger's most original achievements were in the areas of general proof theory, the semantics of modal and deontic logic, and the logical analysis of the concept of rights. He also contributed to action theory, preference logic, and the theory of measurement. This is the first of two volumes dedicated to the work of Stig Kanger. The present volume is a complete collection of Kanger's philosophical papers. The second volume contains critical essays on Kanger's work, as well as biographical essays on Kanger written by colleagues and friends.
Author : Gerhard Preyer
Publisher : Springer
ISBN 13 : 3319332368
Total Pages : 226 pages
Book Rating : 4.3/5 (193 download)
Download or read book Social Ontology and Collective Intentionality written by Gerhard Preyer and published by Springer. This book was released on 2016-12-15 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume features a critical evaluation of the recent work of the philosopher, Prof. Raimo Tuomela and it also offers it offers new approaches to the collectivism-versus-individualism debate. It specifically looks at Tuomela's book Social Ontology and its accounts of collective intentionality and related topics. The book contains eight essays written by expert contributors that present different perspectives on Tuomela’s investigation into the philosophy of sociality, social ontology, theory of action, and (philosophical) decision and game theory. In addition, Tuomela himself gives a comprehensive response to each essay and defends his theory in terms of the new arguments presented here. Overall, readers will gain a deeper insight into group reasoning and the "we-mode" approach, which is used to account for collective intention and action, cooperation, group attitudes, social practices, and institutions as well as group solidarity. This book will be of interest to a wide range of readers and graduate students and researchers interested in contemporary philosophy of sociality, sociological theory, social ontology as well as the philosophy of mind, decision and game theory, and cognitive science. Tuomela’s book stands as a model of excellence in social ontology, an especially intractable field of philosophical inquiry that benefits conspicuously from the devotion of Tuomela’s keen philosophical mind. His book is must reading in social ontology. J. Angelo Corlett, Julia Lyons Strobel
Author :
Publisher :
ISBN 13 :
Total Pages : 668 pages
Book Rating : 4.F/5 ( download)
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2009 with total page 668 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Tony Andréani
Publisher : Taylor & Francis
ISBN 13 : 1040154891
Total Pages : 235 pages
Book Rating : 4.0/5 (41 download)
Download or read book Ten Essays for a 21st Century Socialism written by Tony Andréani and published by Taylor & Francis. This book was released on 2024-10-07 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores possible and realistic alternatives to a capitalism that is no longer sustainable, whether economically, socially, or for a habitable planet. Arguing that these alternatives can only be of socialist orientation, the author moves from a discussion of works that attempted to explain the failure of the socialisms of the 20th century, to a consideration of models for a new socialism. Through consideration of issues including the role of public services, the functions of public enterprises, the creation of a socialized sector, planning, and different forms of democracy, this volume espouses a model of economic democracy capable of dealing with market mechanisms without being dominated by them, as new world geopolitics emerge. A synthesis of proposals for socialist alternatives to today’s hegemonic form of shareholder capitalism, Ten Essays for a 21st Century Socialism will appeal to scholars of sociology, political theory and economics with interests in contemporary socialism.
