Heterodox Microeconomics
http://lists.repec.org/mailman/listinfo/nep-hme
Heterodox Microeconomics
2024-03-11
Towards sustainable agriculture: behaviors, spatial dynamics and policy in an evolutionary agent-based model
http://d.repec.org/n?u=RePEc:ssa:lemwps:2024/05&r=hme
Economic and population growth increasingly pressure the Earth system. Fertile soils are essential to ensure global food security, requiring high-yielding agro-technological regimes to cope with rising soil degradation and macro-nutrients deficiencies, which may be further exacerbated by climate change. In this work, we extend the AgriLOVE land-use agent-based model (Coronese et al., 2023) to investigate trade-offs in the transition between conventional and sustainable farming regimes in a smallholder economy exposed to explicit environmental boundaries. We investigate the ability of the system to favor a sustainable transition when prolonged conventional farming leads to soil depletion. First, we showcase the emergence of three endogenous scenarios of transition and lock-in. Then, we analyze transition dynamics under several behavioral, environmental and policy scenarios. Our results highlights a strong path-dependence of the agricultural sector, with scarce capacity to foster successful transitions to a sustainable regime in absence of external interventions. The role of behavioral changes is limited and we find evidence of negative tipping points induced by mismanagement of grassland and forests. These findings call for policies strongly supporting sustainable agriculture. We test regulatory measures aimed at protecting common environmental goods and public incentives to encourage the search for novel production techniques targeted at closing the sustainable-conventional yield gap. We find that their effectiveness is highly time-dependent, with rapidly closing windows of opportunity.
Matteo Coronese
Martina Occelli
Francesco Lamperti
Andrea Roventini
Agriculture; Land use; Agent-based model; Technological change; Transition; Environmental boundaries; Sustainability
2024-02-20
Learning and Calibrating Heterogeneous Bounded Rational Market Behaviour with Multi-Agent Reinforcement Learning
http://d.repec.org/n?u=RePEc:arx:papers:2402.00787&r=hme
Agent-based models (ABMs) have shown promise for modelling various real world phenomena incompatible with traditional equilibrium analysis. However, a critical concern is the manual definition of behavioural rules in ABMs. Recent developments in multi-agent reinforcement learning (MARL) offer a way to address this issue from an optimisation perspective, where agents strive to maximise their utility, eliminating the need for manual rule specification. This learning-focused approach aligns with established economic and financial models through the use of rational utility-maximising agents. However, this representation departs from the fundamental motivation for ABMs: that realistic dynamics emerging from bounded rationality and agent heterogeneity can be modelled. To resolve this apparent disparity between the two approaches, we propose a novel technique for representing heterogeneous processing-constrained agents within a MARL framework. The proposed approach treats agents as constrained optimisers with varying degrees of strategic skills, permitting departure from strict utility maximisation. Behaviour is learnt through repeated simulations with policy gradients to adjust action likelihoods. To allow efficient computation, we use parameterised shared policy learning with distributions of agent skill levels. Shared policy learning avoids the need for agents to learn individual policies yet still enables a spectrum of bounded rational behaviours. We validate our model's effectiveness using real-world data on a range of canonical $n$-agent settings, demonstrating significantly improved predictive capability.
Benjamin Patrick Evans
Sumitra Ganesh
2024-02
Modelling crypto markets by multi-agent reinforcement learning
http://d.repec.org/n?u=RePEc:arx:papers:2402.10803&r=hme
Building on a previous foundation work (Lussange et al. 2020), this study introduces a multi-agent reinforcement learning (MARL) model simulating crypto markets, which is calibrated to the Binance's daily closing prices of $153$ cryptocurrencies that were continuously traded between 2018 and 2022. Unlike previous agent-based models (ABM) or multi-agent systems (MAS) which relied on zero-intelligence agents or single autonomous agent methodologies, our approach relies on endowing agents with reinforcement learning (RL) techniques in order to model crypto markets. This integration is designed to emulate, with a bottom-up approach to complexity inference, both individual and collective agents, ensuring robustness in the recent volatile conditions of such markets and during the COVID-19 era. A key feature of our model also lies in the fact that its autonomous agents perform asset price valuation based on two sources of information: the market prices themselves, and the approximation of the crypto assets fundamental values beyond what those market prices are. Our MAS calibration against real market data allows for an accurate emulation of crypto markets microstructure and probing key market behaviors, in both the bearish and bullish regimes of that particular time period.
Johann Lussange
Stefano Vrizzi
Stefano Palminteri
Boris Gutkin
2024-02
The Long Way of Actions towards Ethics and Morality
http://d.repec.org/n?u=RePEc:smo:raiswp:0347&r=hme
The concepts presented in this article are based on the context of morality.The analytical grasp of morality results in its identification as a property of what is moral, the nature, character, value of a fact, of the conduct of a person, or of a collectivity from a moral standpoint. Morality does not offer answers to specific questions but it only indicates whether something—a fact, an idea, or an action—is acceptable or unacceptable from a moral point of view. Morality may align with a certain set of laws while conflicting with another. In ethics, there are no categorical laws and there are no orders, there are only actions that are congruent with an ethical current and incongruent attitudes. We subscribe to the idea that ethics teaches individuals how to think but does not prescribe what to think. Like morality, ethics is not an absolute phenomenon.
Gabriel-Alin Ciocoiu
ethics, morals, moral values, morality, human behaviors
2023-11
An introduction to the distributional role of bank credit to workers in a surplus approach framework
http://d.repec.org/n?u=RePEc:pke:wpaper:pkwp2403&r=hme
The Classics and Marx, but also more recent contributions inspired by them, assume that the interest rate is a part of the profit rate. Over time, however, credit towards consumption and for the purchase of housing by workers has taken on greater and greater economic weight. This paper therefore aims to study this issue from a theoretical point of view, analysing its premises and implications. After investigating the necessary conditions on both the demand side (workers) and the supply side (banks), an attempt is made to analyse the distributional effects of a change in the interest rate. The results appear rather complex and difficult to interpret, suggesting a certain difficulty in identifying a simple dynamic that can be generalised to any economic context.
Riccardo Zolea
surplus approach; interest rate; mortgage
2024-02
Two neglected origins of inequality: hierarchical power and care work
http://d.repec.org/n?u=RePEc:ssa:lemwps:2024/04&r=hme
Are wages really a good proxy of the value of labour? Or, alternatively, do they largely reflect socio-institutional embedded practices of current societies according to which a manager deserves to be paid more than a nurse? This paper studies the determinants of wage remuneration and wage distribution focusing on two neglected origins of inequality: hierarchical power and care-work. Our contributions include, first the construction of a new synthetic indicator able to capture and quantitatively assess the distribution of power across occupations; second, the development of an indicator able to fine grained account for care jobs; third, the econometric estimation of the determinants of wage levels and wage distribution contrasting our new proxies for occupational attributes of care and power versus the benchmark Mincer equation and the routine task index. Our results downplay the role of the accustomed routine task index in determining the wage remuneration and prove the role of the socioinstitutional embeddedness of wage determination, rooted on hierarchical positions and largely discarding the role of essentiality in the executed job activity.
Armanda Cetrulo
Dario Guarascio
Maria Enrica Virgillito
wage determination, social classes, labour-process, managerial functions, care jobs
2024-02-16
La convention d’identité coopérative : création de compromis sectoriels et territoriaux
http://d.repec.org/n?u=RePEc:hal:journl:hal-04435785&r=hme
While the firm remains a major institution, the cooperative firm remains relatively understudied despite its significant and enduring presence in economic systems. In this article, we highlight the specificity of cooperatives based on a convention of cooperative identity founded on collective ownership and democratic governance. Using case studies, we reveal how the cooperative identity convention and the search for equilibrium caught in sectoral and territorial constraints are expressed. The originality of our contribution lies in the analysis of the cooperative identity convention and the highlighting of adjustments and compromises at the crossroads of sectoral rules and territorial logics. Our conceptualization is in line with the idea of singling out the cooperative enterprise in an institutionalist interpretation.
Amélie Artis
Maryline Filippi
Francesca Petrella
collective ownership, democratic governance, cooperative, economics of convention, cooperativa, economía de convenciones, propiedad colectiva, gobernabilidad democrática, coopérative, économie des conventions, propriété collective, gouvernance démocratique
2023-07-07
Économie de guerre climatique : de quoi parle-t-on ?
http://d.repec.org/n?u=RePEc:drm:wpaper:2024-8&r=hme
The concept of a necessary transition to a "war economy" in response to the ecological crisis is gaining traction. However, this discussion often overlooks the fact that a war economy primarily relies on policies such as price controls and rationing, as exemplified by the United States' economy during World War II. Whether it's for wartime efforts or addressing climate urgency, both scenarios seem justifying the suspension of market mechanisms in key sectors to achieve production goals while mitigating the social costs of transition. Nonetheless, a significant disparity lies in the social acceptability of such political measures, which proves to be considerably more challenging to establish within the context of the climate and ecological crisis.
Alexandre Chirat
Basile Clerc
Ecological transition - war economy - price controls
2024
Accountability in French non-profit organizations: between paradox and complexity
http://d.repec.org/n?u=RePEc:hal:journl:hal-04430976&r=hme
Purpose: This article examines whether accountability can contribute to the analysis of effectiveness in grassroots voluntary organizations (GVOs) in France. Design/methodology/approach: Based on recent studies and stakeholder theory, hypotheses are formulated about the negative link between accountability and financial effectiveness and a positive link between accountability and non-financial effectiveness. Findings: The findings show that accountability practices are positive determinants of financial indicators (apart from return on assets [ROA]) and employment of people in difficulty. In contrast, the other non-financial indicators are not explained by accountability practices. Research limitations/implications: The study points out the complexity and paradoxes surrounding accountability and highlights the risk of insensitivity to it. It thus underlines a specific French situation, close to the risks of myopia linked to accountability. One possible explanation could be the coupling and decoupling mechanisms that allow non-profit organizations (NPOs) to regain power. Given the sometimes-random effects of accountability, producing nuanced theories is necessary, and governance should oscillate between equilibrium and adaptation in the face of stakeholders. Finally, this article introduces the risk of insensitivity of NPOs to accountability (i.e. they act as they wish, regardless of control mechanisms such as accountability). Practical implications: This study thus reveals governance dilemmas, which could be solved through less formal, more mission-oriented, more creative and therefore heterodox accountability. Originality/value: The French context of mistrust of certain managerial approaches and the development of codes of governance based on a disciplinary vision are confronted with a growing and critical literature on accountability in NPOs. © 2023, Emerald Publishing Limited.
Guillaume Plaisance
Governance, Effectiveness, Accountability, Stakeholder theory, French nonprofit organizations
2023-06
How Relevant is the Gandhian Political Economy for Today’s India?
http://d.repec.org/n?u=RePEc:pra:mprapa:119582&r=hme
Mohandas Karamchand Gandhi (1869-1948), known as ‘Mahatma’, meaning ‘great-souled’ as people called him, was born on 2nd October 1869 at Porbandar in India. He was the first to warn the then-Indian leaders, policymakers, and his followers in the late 1940s about the dangers of high inequality in income and wealth distribution prevalent between the rich and the poor in India. This shows his power of visionary gleams and his awareness of the political economy. Gandhi’s vision of non-violence, ahimsa, and right action was based on the idea of the total spiritual interconnectedness and divinity of life as a whole. He was also the first to create three principles of sustainable development: Sarvodaya, Swadeshi, and Satyagraha, aptly relevant to today’s India. His idea of creating of economically self-sufficient local economy is now at the closest proximity to 'Atmanirbhar Bharat' which he tried to launch many years back. It is in this context we try to explore the relevance of Gandhian political economy for today’s India.
Karmakar, Asim K.
Jana, Sebak Kumar
Political economy, Platform capitalism, Sarvodaya, Satyagraha, Sustainable development
2023-12-27
Innovation Studies, Social Innovation, and Sustainability Transitions Research: From mutual ignorance towards an integrative perspective?
http://d.repec.org/n?u=RePEc:pra:mprapa:120070&r=hme
This article is a first attempt towards building an integrative analytical framework to study goal-orientated transformative change (GOTC) processes, defined as system-transforming processes that are guided by the ambition to resolve current or expected future societal challenges. GOTC can only start once a broad range of possible goals are considered by key stakeholders and major relevant actors are committed to act. Hence, there is a need for widening the scope of the current, partial conceptual models to consider the co-evolutionary interactions between technology, economy, and society to better understand and effectively guide and/or assess GOTC. This claim is based on our focussed review of Innovation Studies, Social Innovation, and Sustainability Transitions research. We offer four building blocks for a new, integrative framework to analyse GOTC: its overarching goal; objects, types, and levels of change; mechanisms of change; and a set of criteria to assess change.
Havas, Attila
Schartinger, Doris
Weber, Matthias K.
An integrative analytical framework; Innovation studies; Social innovation research; Sustainability transitions ;research; Focussed literature review
2023-08
Realist Evaluation
http://d.repec.org/n?u=RePEc:hal:journl:hal-04441388&r=hme
Realist evaluation is based on a conception of public policies as interventions that produce their outcomes through mechanisms that are only triggered in specific contexts. The analysis of these links between contexts, mechanisms and outcomes is therefore at the heart of this approach. This approach can be based on a variety of methods, but will in all cases use qualitative methods to investigate the mechanisms involved. Belonging to the family of theory-based evaluations, realist evaluation aspires to produce middle range theories that will facilitate the transfer of the knowledge produced on the intervention under study to other contexts or other interventions of the same type.
Sarah Louart
Habibata Balde
Emilie Robert
Valéry Ridde
Qualitative methods, theory-based evaluation, context-mechanism-outcome (CMO) configurations, middle range theory, critical realism
2023-07-14
Market Democracy, Rising Populism, and Contemporary Ordoliberalism
http://d.repec.org/n?u=RePEc:ces:ceswps:_10888&r=hme
Populist movements increasingly challenge liberal Western market democracies. Populism can be explained only in part by phenomena like globalization and digitization producing winners and losers in economic terms. Growing feelings of alienation from the market-democratic system and the perceived loss of autonomy within the political system contribute to rising populism as well. In this chapter, we ask whether elements of public deliberation may be a means to reasonably responding to the populist challenge by strengthening citizen sovereignty in addition to consumer sovereignty. Ordoliberalism, as a specific form of liberalism that aims at achieving both a ‘functioning and humane order’ within a system of ‘interdependent orders’, is particularly apt to embrace the idea of public deliberation if it is rules-based.
Malte Dold
Tim Krieger
populism, ordoliberalism, democracy, deliberation
2024
Vers une conception d’évaluation plurielle et collective de la mesure d'impacts de projets en ESS. Inscrire territoires et durabilité au cœur de la démarche
http://d.repec.org/n?u=RePEc:hal:journl:hal-03759955&r=hme
L'article s'inscrit dans une démarche de mesure d'impacts territorialisés de la durabilité de I'Economie sociale et solidaire (ESS). La portée plurielle d'évaluation posant l'utilité sociale et la durabilité renvoie à considérer l'inscription de l'action évaluée « dans » un territoire donné. Il est alors nécessaire d'aller au-delà des outils de mesure traditionnels et d'intégrer les parties prenantes de l'ESS. Cet article propose de suivre et d'analyser le cheminement méthodologique de la construction d'indicateurs de mesure d'impacts de trois initiatives en ESS. Nous illustrons comment la dimension territoriale de l'ESS devient support de co-construction d'une évaluation originale, de la portée des projets d'ESS. Ce filtre d'analyse territorialisée (re)couvre les enjeux de durabilité. Nous proposons d'interroger la conception des critères ayant pour but d'essaimer auprès de nouvelles structures partenaires : constitue-t-elle une mesure d'impacts tridimensionnelle adaptée aux objectifs de l'ESS et de la durabilité ? Partant de ces terrains, le texte propose un retour sur le positionnement des chercheurs dans la co-élaboration de l'outil de mesure d'impact et suggère l'intégration de la dimension territoriale dans la mesure d'impacts de durabilité des structures de l'ESS ainsi que l'appréhension de la finalité sociale de projet afin que le projet essaime et permette d'entamer une discussion sur les apports et rapports au territoire.
Valérie Billaudeau
Emmanuel Bioteau
Oriane Vérité
Cécile Grémy‐gros
Hervé Christofol
innovation, impacts assessment
2022-03-27