nep-hpe New Economics Papers
on History and Philosophy of Economics
Issue of 2006‒09‒11
five papers chosen by
Erik Thomson
University of Chicago

  1. What does it means to say that economics is performative? By Michel Callon
  2. The Origins of Meso Economics - Schumpeter's Legacy By Kurt Dopfer
  3. Oskar Morgenstern als wirtschaftspolitischer Berater in den 1930er-Jahren By Hansjörg Klausinger
  4. 'Capacitas': Contract Law and the Institutional Preconditions of a Market Economy By Simon Deakin
  5. Moeilijk doen als het ook makkelijk kan By Wagelmans, A.P.M.

  1. By: Michel Callon (Centre de Sociologie de l'Innovation, Ecole des Mines de Paris)
    Abstract: Discusses the performativity of economics and proposes theoretical directions to study it from a sociological perspective.
    Keywords: Economics, economic sociology, actor-network theory, science studies
    JEL: A11 A14 Z1
    Date: 2006–08
  2. By: Kurt Dopfer
    Abstract: Length 44 pages
    Date: 2006–09
  3. By: Hansjörg Klausinger (Department of Economics, Vienna University of Economics & B.A.)
    Abstract: The point of departure of this study is that in the 1930s Oskar Morgenstern, well-known as the co-founder of game theory, was preoccupied by his activities in Austrian economic policy, possibly even more so than with his project to revolutionize economic theory. The main questions to be examined in this regard are, first, to what extent Morgenstern's advice did conform to the teachings of the Austrian school and, second, if he really exerted an influence on economic policy-making in Austria during this period. In order to answer this question the paper draws to a large part on unpublished sources from the Oskar Morgenstern Papers and uses them as a basis for determining Morgenstern's role in a few critical episodes of Austrian economic policy-making.
    JEL: B25 B30 N14
    Date: 2006–07
  4. By: Simon Deakin
    Abstract: Capacity may be defined as a status conferred by law for the purpose of empowering persons to participate in the operations of a market economy. This paper argues that because of the confining influence of the classical private law of the nineteenth century, we currently lack a convincing theory of the role of law in enhancing and protecting the substantive contractual capacity of market agents, a notion which resembles the economic concept of 'capability' as developed by Amartya Sen. Re-examining the legal notion of capacity from the perspective of Sen's 'capability approach' is part of a process of understanding the preconditions for a sustainable market order under modern conditions.
    Keywords: contract law, capacity, capability approach
    JEL: K12 K31
    Date: 2006–06
  5. By: Wagelmans, A.P.M. (Erasmus Research Institute of Management (ERIM), RSM Erasmus University)
    Abstract: One of the main points of criticism on academic research in operations research (management science ) is that there is too much emphasis on the mathematical aspects of the discipline. In particular, the mathematical models that lend themselves to rigorous mathematical analysis are often rough simplifications of the actual decision problems that need to be solved in practice. Moreover, advanced mathematical solution methods may lead to overkill, since sometimes acceptable solutions may already be found by relatively simple ad hoc methods. In this address, we argue that although these observations may be true, this does not necessarily mean that mathematically oriented research is not useful in solving practical decision problems. We believe that the criticism ignores both the role of academic research within the discipline as well as the fact that certain recent successful applications of operations research owe much to mathematically oriented research. We illustrate the usefulness of this type of research by discussing research projects in container logistics and public transport scheduling.
    Keywords: operations research;management science;applied research;mathematical programming;public transport planning;logistics management;
    Date: 2002–09–20

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