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on History and Philosophy of Economics |
| By: | Kevin D. Hoover |
| Abstract: | A review of James Forder’s important history of the Phillips Curve. |
| Keywords: | Phillips curve, A.W. Phillips, Milton Friedman, inflation, unemployment |
| JEL: | B22 B30 E24 E31 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hec:heccee:2015-7&r=hpe |
| By: | Acs, Zoltan J. (London School of Economics) |
| Abstract: | This paper recasts Piketty’s Capital in the Twenty-First Century in light of Acs’ Why Philanthropy Matters: How the Wealthy Give and What It Means for Our Economic Well-Being. Philanthropy matters in this debate because, as moral capital, philanthropy offers an alternative solution to the Piketty conundrum, and it does so without relying exclusively on a wealth tax and government intervention. Moral capital over the centuries strengthened both capitalism and democracy by investing in opportunity (slavery, suffrage and civil rights), which in turn leads to long-term economic growth and greater equality. By focusing on university research—which is critical in promoting technological innovation, economic equality, and economic security—that creates a large, well-functioning middle class (The Economist, March 2015), moral capital represents the missing link in the theory of capitalism development. |
| Keywords: | philanthropy; competition; education; opportunity; entrepreneurship; innovation; inequality; Piketty |
| JEL: | J24 L26 O20 P16 |
| Date: | 2015–08–10 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0418&r=hpe |
| By: | Juniper, James (The University of Newcastle, Newcastle Business School) |
| Abstract: | The paper extends Foucault’s analysis of neoliberalism in The Birth of Biopolitics. More specifically, I construct and defend an anti-Husserlian approach to the labour process with the objective of investigating how collectively generated forms of intellectual labour have been appropriated under capitalist relations of production. I also interrogate the way that different notions of (computational) applied ontology influence both the nature of and our very conception of social creativity. What, quite wrongly, has been thought of in Spinoza as pantheism is simply the reduction of the field of God to the universality of the signifier, which produces a serene, exceptional detachment from human desire. In so far as Spinoza says—desire is the essence of man, and in the radical dependence of the universality of the divine attributes, which is possible only through the function of the signifier, in so far as he does this, he obtains that unique position by which the philosopher—and it is no accident that it is a Jew detached from his tradition who embodies it—may be confused with a transcendent love. This position is not tenable for us. Experience shows us that Kant is more true, and I have proved that his theory of consciousness, when he writes of practical reason, is sustained only by giving a specification of the moral law which, looked at more closely, is simply desire in its pure state, that very desire that culminates in sacrifice, strictly speaking, of everything that is the object of love in one’s human tenderness—I would say, not only in the rejection of the pathological object, but also in its sacrifice and murder. That is why I wrote Kant avec Sade. (Lacan, 1979: 275-6) But it is like the story of the Resistance fighters who, wanting to destroy a pylon, balanced the plastic charges so well that the pylon blew up and fell back into its hole. From the Symbolic to the Imaginary, from castration to Oedipus, and from the despotic age to capitalism, inversely, there is the progress leading to the withdrawal of the overseeing and overcoding object from on high, which gives way to a social field of immanence where the decoded flows produce images and level them down. Whence the two aspects of the signifier: a barred transcendent signifier taken in a maximum that distributes lack, and an immanent system of relations between minimal elements that come to fill the uncovered field (somewhat similar in traditional terms to the way one goes from Parmenidean Being to the atoms of Democritus). (Deleuze and Guattari,1987: 290-1). Marx was vexed by the bourgeois character of the American working class. But it turned out that the prosperous Americans were merely showing the way for the British and the French and the Japanese. The universal class into which we are merging is not the revolutionary proletariat but the innovative bourgeoisie. (McClosky, D. 2009) |
| Keywords: | Neoliberalism; Applied ontology; Digitization; Creativity; Foucault |
| JEL: | B24 B51 E11 L14 L86 O34 P11 P14 P16 P26 Z11 Z18 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:nbz:nbsuon:2015_2&r=hpe |
| By: | Guillaume Allegre (OFCE - OFCE - Sciences Po); Xavier Timbeau (OFCE - OFCE - Sciences Po) |
| Abstract: | Thomas Piketty's Capital in the Twenty-First Century proposes a critical analysis of the dynamics of capital accumulation. The book has several objectives: to present the historical dynamics of capital and its distribution up to the early twenty-first century; to offer a prospective analysis of these dynamics up to the end of this century; and, finally, to discuss policy measures that would make it possible to avoid the future it lays out. |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-00992367&r=hpe |
| By: | Camille Cornand (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - CNRS - UCBL - Université Claude Bernard Lyon 1 - UL2 - Université Lumière - Lyon 2 - Université Jean Monnet - Saint-Etienne - PRES Université de Lyon - ENS Lyon - École normale supérieure - Lyon); Rodolphe Dos Santos Ferreira (BETA - Bureau d'économie théorique et appliquée - CNRS - Université Nancy II - Université de Strasbourg) |
| Abstract: | In Keynes' beauty contest, agents have to choose actions in accordance with an expected fundamental value and with the conventional value expected to be set by the market. In doing so, agents respond to a fundamental and to a coordination motive respectively, the prevalence of either motive being set exogenously. Our contribution is to consider whether agents favor the fundamental or the coordination motive as the result of a strategic choice that generates a strong strategic complementarity of agents' actions. We show that the coordination motive tends to prevail over the fundamental one, which yields a disconnection of activity away from the fundamental. A valuation game and a competition game are provided as illustrations of this general framework. Abstract In Keynes' beauty contest, agents have to choose actions in accordance with an ex-pected fundamental value and with the conventional value expected to be set by the market. In doing so, agents respond to a fundamental and to a coordination motive re-spectively, the prevalence of either motive being set exogenously. Our contribution is to consider whether agents favor the fundamental or the coordination motive as the result of a strategic choice that generates a strong strategic complementarity of agents' actions. We show that the coordination motive tends to prevail over the fundamental one, which yields a disconnection of activity away from the fundamental. A valuation game and a competition game are provided as illustrations of this general framework. |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01116156&r=hpe |
| By: | Can Baskent (INRIA Nancy - Grand Est / LORIA - SEMAGRAMME - INRIA - Université de Lorraine) |
| Abstract: | In this paper, we discuss a well-known self-referential paradox in epis-temic game theory, the Brandenburger -Keisler paradox. We approach the paradox from two different perspectives: non-well-founded set theory and paraconsistent logic. |
| Date: | 2014–12–13 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01094784&r=hpe |
| By: | Laurie Bréban (LED - LED - Laboratoire d'Economie Dionysien - Université Paris VIII - Vincennes Saint-Denis); Muriel Gilardone (CREM - Centre de Recherche en Economie et Management - CNRS - Université de Caen Basse-Normandie - UR1 - Université de Rennes 1); Benoît Walraevens (CREM - Centre de Recherche en Economie et Management - CNRS - Université de Caen Basse-Normandie - UR1 - Université de Rennes 1) |
| Abstract: | This paper aims at questioning what Sen (2009) presents as a theory of justice derived from Smith’s idea of the “impartial spectator”. Sen’s tribute to Smith’s pioneering concept of the impartial spectator already gave rise to a set of criticisms that we divide in two kinds: 1) Sen’s reading is unfaithful with regard to the original Smithian concept (Forman-Barzilai, 2010; Gilardone, 2010; Bruni, 2011; Alean, 2014; Shapiro, 2011; Ege, Igersheim & Le Chapelain, 2012) and 2) Sen’s reading is a weak point of his theory of justice (Shapiro, 2011; Ege, Igersheim & Le Chapelain, 2012). In the paper, we try to address both kinds of criticism. Firstly, we shed a new light on Sen’s reading of Smith and provide a path of reconciliation between Sen’s analysis and Smith’s one. For us, Sen’s impartial spectator is somewhat reminiscent of another figure from Smith’s moral philosophy: “the man without”. Secondly, we show that, in Smith’s analysis, “the man without” is pointless without his genuine concept of the impartial spectator, called “the man within”. We conclude by arguing that Smith’s “man within” could constitute the missing piece in Sen’s analysis of the process which must lead public reasoning towards more justice. Introducing a missing touch of Smith could thus strengthen Sen’s idea of open impartiality in public reasoning for challenging Rawls’ contractualist theory of justice. |
| Date: | 2015–06–13 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01176988&r=hpe |
| By: | Christophe Salvat (TRIANGLE - Triangle : action, discours, pensée politique et économique - CNRS - UL2 - Université Lumière - Lyon 2 - Université Jean Monnet - Saint-Etienne - Institut d'Études Politiques [IEP] - Lyon - ENS Lyon - École normale supérieure - Lyon) |
| Abstract: | This paper deals with French political economy under the Second Empire. It suggests that having been seriously weakened by internal dissents over the suitability of the historical method in economics, French political economy managed to reinvent itself during the last decade of Napoléon III's reign. Threatened by the emperor's personal suspicion towards free trade and the intellectual domination of positivism, economists experienced in the 1850s one of the most difficult periods in their history. Yet, a decade later the tables seem to have turned. The institutional changes, brought forward by Victor Duruy, and the intellectual ascendance gained by economists such as Baudrillart, Wolowski or Dunoyer contributed to modernize and legitimize the outmoded and unimaginative political economy inherited from Say. They notably found in the history of economic thought a way to comply with the positive standards of the time but also to give back to political economy the respectability it had lost. |
| Date: | 2015–01–26 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01109614&r=hpe |
| By: | Yukio Koriyama (Department of Economics, Ecole Polytechnique - CNRS - Polytechnique - X); Matias Nunez (CNRS and Université de Cergy-Pontoise, THEMA - [-]) |
| Abstract: | We examine the conditions under which iterative elimination of weakly dominated strategies refines the set of proper outcomes of a normal-form game. We say that the proper inclusion holds in terms of outcome if the set of outcomes of all proper equilibria in the reduced game is included in the set of all proper outcomes of the original game. We show by examples that neither dominance solvability nor the transference of decision-maker indifference condition (TDI of Marx and Swinkels [1997]) implies proper inclusion. When both dominance solvablility and the TDI condition are satisfied, a positive result arises: the game has a unique stable outcome. Hence, the proper inclusion is guaranteed. |
| Date: | 2014–10–13 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01074178&r=hpe |
| By: | Paul Beer (AIAS, Universiteit van Amsterdam); Wiemer Salverda (AIAS, Universiteit van Amsterdam) |
| Abstract: | The two papers brought together here are revised versions of: * Paul de Beer, _Wat kunnen sociaaldemocraten van Piketty leren?_ * Wiemer Salverda, _Ongelijkheid in Nederland_ S&D Volume 71 Number 3 June 2014 — pages 31-38 and 49-60 respectively. h2. What can we learn from Piketty? h3. Paul de Beer _Piketty’s book tells a compelling and ‘grand’ story. The practical lesson is to aim for a more balanced distribution of wealth without impeding growth: more home ownership without debt, less tax deductions for pension premiums paid by higher earners, more profit sharing for employees._ Capital in the Twenty-First Century by French economist Thomas Piketty has created a shockwave among economists. A few have already welcomed the book as the most important economic work since Marx’s Das Kapital. It is not just the title that has prompted this response, it is also the breadth and depth of Piketty’s analysis. In an age in which ‘big stories’ are supposed to have been dispensed with because today’s world is too complex to be expressed solely in simple formulas, this is exactly what Piketty has done. The essence of his book can be summarised in three elementary formulas: α = r x β, β = s/g and r > g. The latter inequality in particular has captured the imagination of the economist community in the past year, as if it were the formula for the holy grail. The Huffington Post even compared it with Einstein’s E = mc2. The formula has already appeared on hipsters’ T-shirts! Reducing the analysis of modern capitalism to three simple formulas that can be explained fairly easily to non-economists would seem to be an impossible task. Many economists who sang the praises over Piketty’s book seem to be desperately wondering why they had not hit upon the idea themselves, as it is not as if the formulas contain anything that is really new. h2. Wealth/income inequality – the significance of Piketty’s views for the Netherlands h3. Wiemer Salverda *Summary* It is not possible yet to draw a comprehensive comparison of wealth inequality in the Netherlands with the results for other countries found in Piketty’s Capital in the Twenty-first Century survey, if only because consistent Dutch figures on wealth go back no further than the 1990s. By contrast, it is possible to study the ratio between national wealth and income in much the same way as Piketty has done, but from the mid-1990s on only. The results show that from an international perspective the wealth/income ratio in the Netherlands is considerable, and has been growing. Further research is required, first, to improve this comparison and extend it to earlier years and even centuries as in Piketty, and, second, to link that to the distribution of wealth over individuals and households. The discussion on Capital in the Twenty-First Century by Thomas Piketty raises three important questions about the significance of his research for the Netherlands: What is the wealth-income ratio like; is it increasing here too? How concentrated among individuals or households is the possession of wealth, and is this concentration increasing or decreasing? How important is income from wealth in the distribution of incomes? For each of these questions, it is also relevant to know its development and level relative to other countries. I will attempt in this contribution to find a first answer to these questions, using Dutch income and wealth statistics, international macro-economic statistics (national accounts) and of course the top-income shares, which laid the foundation for Piketty’s theory about the role of wealth, economic growth and inequality. One hundred years ago, top incomes in the Netherlands accounted for an extremely high proportion of overall income, possibly due to colonialism, opportunistic profiteering from the First World War, or perhaps because that is simply how things were. In 1916, 53% of all income in the Netherlands, as in Sweden, went to the Top-10% and 29% to the Top-1%. That was considerably more than in Germany, the United Kingdom, or the United States at the time. As was the case elsewhere, the top shares showed a marked decline in the Netherlands, especially after 1945, until reaching their lowest points of 27.5% and 6.1% respectively in 1975. After that, the top-income shares diverged considerably from one country to another, as we shall shortly see. Because minor differences in definitions can have significant effects when it comes to income and wealth - the devil really is in the detail here - I will try to be as accurate as I can in what I have to say. |
| Date: | 2014–10 |
| URL: | http://d.repec.org/n?u=RePEc:aia:indrnl:2014-16&r=hpe |
| By: | Sébastien Broca (CEPN - Centre d'Economie de l'Université Paris Nord - Université Paris 13 - Université Sorbonne Paris Cité (USPC) - CNRS) |
| Abstract: | This article reflects on the temporal discontinuity attached to the notion of utopia through a study of Ernst Bloch’s philosophy. In his early writings, the German thinker builds a « system of theoretical Messianism », which appears as a harsh critique of the ideology of progress and its vision of time as homogeneous, continuous and linear. The utopian future is then conceived as qualitatively different from the present and impossible to foresee. In The Principe of Hope, the influence of historical materialism inflects Bloch’s vision of time. Utopia becomes « concrete utopia », an attempt to actualize certain tendencies that already operate in the world. The future is no longer estranged from the present, but appears as its continuation and contestation: in other words, as its dialectical overcoming. |
| Abstract: | Cet article réfléchit aux formes de rupture temporelle attachées à la notion d’utopie, à travers une analyse de certains aspects de la pensée d’Ernst Bloch. Dans ses premiers écrits, celui-ci développe un « système du messianisme théorique » qui apparaît comme un critique virulente de l’idéologie du progrès et de sa vision d’un temps homogène, continu et linéaire. Le futur de l’utopie est alors conçu comme une rupture qualitative avec le présent, impossible à anticiper. Dans Le principe espérance, l’influence du matérialisme historique infléchit cette conception du temps. L’utopie devient « utopie concrète », c’est-à-dire tentative pour actualiser certaines tendances particulières dont le monde est porteur. Le futur n’est plus alors cet autre radical par rapport au présent : il en est à la fois la continuation et la contestation ou, autrement dit, le dépassement dialectique. |
| Date: | 2014–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01154790&r=hpe |
| By: | Claude Roche (LIP - Laboratoire d'innovation pédagogique - Université Catholique de Lille) |
| Abstract: | Présentation d'une communication qui sera donnée à la journée d'études "fictions originelles" de l'association C Gide L'économie, en tant que discipline a toujours accordé de l'importance à la compréhension de son origine. Il s'en est même formé au cours du XXème une vision dominante, qui la présente comme une construction conceptuelle et qui culminerait dans ce qu'on appelle l'économie politique classique. Il s'agit cependant d'une vision paradoxale qui a nié tout rapport organique entre cette construction et la philosophie politique dont elle était pourtant issue ; et nous pointons surtout le « droit naturel moderne » au sens de Strauss [2008], car il a été la matrice de nos institutions. Ce paradoxe est souvent assumé pour des raisons d'épistémologie. On considère à l'instar de Schumpeter [1983] que même élaborés à l'intérieur d'un discours philosophique, les concepts de l'économie pourraient être abstraits de leur contexte : il y aurait une histoire autonome de « l'analyse économique ». Le droit naturel et les institutions financières Or il s'agit d'une erreur : en effet ce qui caractérise ce « droit naturel moderne » est son caractère rationnel. Cela veut dire que l'on cherche à convaincre un lecteur réputé rationnel – et donc à démontrer – des thèses qui alors apparaissent à la fois globales (« interdisciplinaires ») et contextuelles, déterminées par ce statut de discussion. Mais dans ce cas, il n'est pas possible d'abstraire une notion – le travail par exemple-sans en changer le sens et celui des propositions qu'elle illustre. La thèse que nous défendons est alors celle-là : qu'en procédant de la sorte on a occulté le sens du premier libéralisme économique – qu'on dira « whig » pour simplifier-en le coupant de son enjeu d'ordre institutionnel : précisément de la construction des Institutions financières. Et derrière cet enjeu c'est la question de la finalité du marché que nous voulons pointer, et au-delà l'idée d'intérêt général. |
| Date: | 2014–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01140708&r=hpe |
| By: | Nuno Ornelas Martins (Faculdade de Economia e Gestão, Universidade Católica Portuguesa - Porto); Ricardo Morais (Faculdade de Economia e Gestão and CEGE, Universidade Católica Portuguesa - Porto) |
| Abstract: | In this conceptual paper we suggest that a critical realist perspective alters managerial views on prediction and strategy formation. For that purpose, we review alternative notions of prediction in economic theory in the light of critical realism. In addition, we review the role of prediction in alternative streams of thought on strategy formation. The corollary of such a literature review is a new conceptualisation of the organisational environment as an open system which is not prone to prediction but can be a source of learning for strategists. Such critical realist view alerts researchers and practitioners for the provisional nature of scientific explanations and the dangers of premature prediction. Critical realism is thus a promising avenue for further research on strategy formation and more appropriate strategizing. |
| Keywords: | critical realism, prediction, economic modelling, strategy formation |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:cap:mpaper:022015&r=hpe |
| By: | Giovanni Fusco (ESPACE - Études des structures, des processus d'adaptation et des changements des espaces - CNRS - UNS - Université Nice Sophia Antipolis - UAPV - Université d'Avignon et des Pays de Vaucluse - Université de Provence - Aix-Marseille 1 - Université de la Méditerranée - Aix-Marseille 2); Frédérique Bertoncello (Axe 4 : Territoires, systèmes techniques et usages sociaux (MSHS Sud-Est) - MSHS Sud-Est - Maison des Sciences de l'Homme et de la Société Sud-Est - Université de Corse Pasquale Paoli - UCPP - UNS - Université Nice Sophia Antipolis - CNRS, CEPAM - Culture et Environnements, Préhistoire, Antiquité, Moyen-Age - CNRS - UNS - Université Nice Sophia Antipolis); Joël Candau (LAPCOS - Laboratoire d'Anthropologie et de Psychologie Cognitive et Sociale - UNS - Université Nice Sophia Antipolis, Axe 4 : Territoires, systèmes techniques et usages sociaux (MSHS Sud-Est) - MSHS Sud-Est - Maison des Sciences de l'Homme et de la Société Sud-Est - Université de Corse Pasquale Paoli - UCPP - UNS - Université Nice Sophia Antipolis - CNRS); Karine Emsellem (ESPACE - Études des structures, des processus d'adaptation et des changements des espaces - CNRS - UNS - Université Nice Sophia Antipolis - UAPV - Université d'Avignon et des Pays de Vaucluse - Université de Provence - Aix-Marseille 1 - Université de la Méditerranée - Aix-Marseille 2); Thomas Huet (CEPAM - Culture et Environnements, Préhistoire, Antiquité, Moyen-Age - CNRS - UNS - Université Nice Sophia Antipolis, Axe 4 : Territoires, systèmes techniques et usages sociaux (MSHS Sud-Est) - MSHS Sud-Est - Maison des Sciences de l'Homme et de la Société Sud-Est - Université de Corse Pasquale Paoli - UCPP - UNS - Université Nice Sophia Antipolis - CNRS); Christian Longhi (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis - CNRS, Axe 4 : Territoires, systèmes techniques et usages sociaux (MSHS Sud-Est) - MSHS Sud-Est - Maison des Sciences de l'Homme et de la Société Sud-Est - Université de Corse Pasquale Paoli - UCPP - UNS - Université Nice Sophia Antipolis - CNRS); Sebastien Poinat (CRHI - Centre de recherche d'histoire des idées - UNS - Université Nice Sophia Antipolis - CNRS, Axe 4 : Territoires, systèmes techniques et usages sociaux (MSHS Sud-Est) - MSHS Sud-Est - Maison des Sciences de l'Homme et de la Société Sud-Est - Université de Corse Pasquale Paoli - UCPP - UNS - Université Nice Sophia Antipolis - CNRS); Jean-Luc Primon (URMIS - Unite de recherche migrations et sociétés - UP7 - Université Paris Diderot - Paris 7 - CNRS - Institut de recherche pour le développement [IRD] : UR205 - UNS - Université Nice Sophia Antipolis, Axe 4 : Territoires, systèmes techniques et usages sociaux (MSHS Sud-Est) - MSHS Sud-Est - Maison des Sciences de l'Homme et de la Société Sud-Est - Université de Corse Pasquale Paoli - UCPP - UNS - Université Nice Sophia Antipolis - CNRS); Christian Rinaudo (URMIS - Unite de recherche migrations et sociétés - UP7 - Université Paris Diderot - Paris 7 - CNRS - Institut de recherche pour le développement [IRD] : UR205 - UNS - Université Nice Sophia Antipolis, Axe 4 : Territoires, systèmes techniques et usages sociaux (MSHS Sud-Est) - MSHS Sud-Est - Maison des Sciences de l'Homme et de la Société Sud-Est - Université de Corse Pasquale Paoli - UCPP - UNS - Université Nice Sophia Antipolis - CNRS) |
| Abstract: | Because of their epistemological and methodological specificities, Humanities and Social Sciences cannot avoid the question of uncertainty. Researchers in these disciplines are thus forced to “do science with the uncertainty”, by integrating it in the process of knowledge production, from object conceptualisation, to phenomena analysis and modelling, to decision support. Through uncertainty, the question of knowledge production in the Humanities and Social Sciences is thus clearly posed. This paper is the collective work of an interdisciplinary group of researchers and draws examples from different research fields. It proposes an overall reflexion on the specificities of uncertainty in the Humanities and Social Sciences and on their consequences on the produced knowledge. |
| Abstract: | En raison de leurs spécificités épistémologiques et méthodologiques, les Sciences Humaines et Sociales ne peuvent pas écarter la question de l’incertitude. Il s’agit donc de « faire science avec l’incertitude », de l’intégrer dans tout le processus de production de connaissance, de la conceptualisation des objets d’étude à l’aide à la décision, en passant par l’analyse et la modélisation des phénomènes. À travers l’incertitude, c’est la question de la production de la connaissance en SHS qui est posée. Emanant d’un collectif interdisciplinaire de chercheurs, l’article propose une réflexion sur les caractéristiques de l’incertitude en SHS et leurs conséquences sur les connaissances produites, en s’appuyant sur des exemples issus de différents disciplines. |
| Date: | 2014–06–23 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01166287&r=hpe |
| By: | Anne Le Roy (CREG - Centre de recherche en économie de Grenoble - Grenoble 2 UPMF - Université Pierre Mendès France) |
| Abstract: | L’évaluation est de plus en plus présente dans le quotidien des acteurs du monde social et médico-social. Or, ce type d’activité ne s’inscrit pas dans les logiques et régulations marchandes alors même qu’elles constituent le cadre d’analyse de référence de l’économiste. Dès lors, le non marchand bouscule l’économiste standard et les concepts qu’il mobilise. Être en capacité d’appréhender les réalités non marchandes est un vrai défi pour l’économiste souhaitant révéler l’apport, la contribution socio-économique, des organisations dites non marchandes. C’est à la réflexion suscitée par ce défi que la communication souhaite participer nourrit des expériences issues du monde médico-social. |
| Date: | 2015–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01177019&r=hpe |
| By: | Ying Chen (Key Laboratory of Inorganic Functional Materials and Devices - Chinese Academy of Science (CAS) - Shangai Institute of Ceramics); Sidartha Gordon (ECON - Département d'économie - Sciences Po) |
| Abstract: | We introduce a "nestedness" relation for a general class of sender-receiver games and compare equilibrium properties, in particular the amount of information transmitted, across games that are nested. Roughly, game is nested in game if the players's optimal actions are closer in game. We show that under some conditions, more information is transmitted in the nested game in the sense that the receiver's expected equilibrium payoff is higher. The results generalize the comparative statics and welfare comparisons with respect to preferences in the seminal paper of Crawford and Sobel (1982). We also derive new results with respect to changes in priors in addition to changes in preferences. We illustrate the usefulness of the results in three applications: (i) delegation to an intermediary with a different prior, the choice between centralization and delegation, and two-way communication with an informed principal. |
| Date: | 2014–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-00973071&r=hpe |
| By: | Alesina, Alberto (Harvard University); Giuliano, Paola (University of California, Los Angeles) |
| Abstract: | A growing body of empirical work measuring different types of cultural traits has shown that culture matters for a variety of economic outcomes. This paper focuses on one specific aspect of the relevance of culture: its relationship to institutions. We review work with a theoretical, empirical, and historical bent to assess the presence of a two-way causal effect between culture and institutions. |
| Keywords: | culture, institutions |
| JEL: | P16 Z1 |
| Date: | 2015–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp9246&r=hpe |
| By: | Bernardo Batiz-Lazo (Bangor University); Andrew Edwards (Bangor University) |
| Abstract: | This paper splits into two main ideas. First, provide a broad overview of the history of management thought in the UK, from its early manifestation in the 19th century to the establishment of the first business schools in London and Manchester in 1965. The second part of the paper deals with developments in the 1980s. Anecdotal evidence suggests that during the governments of Margaret Thatcher there was a radical shift in British management practice and thinking. Some of these changes ran in parallel to global trends in capitalism (and specifically the advent of neo-liberalism). Others were idiosyncratic to the UK. But there is no systematic evidence to clarify whether these changes resulted from deliberate action by the Thatcher government and its supporters in British industry or whether Mrs Thatcher became a rallying point for an episode of globalization. In short, was the era of the ÒWashington ConsensusÓ (Williamson, 1989) in Britain an episode of exceptionalism? Rather than offering empirical evidence to solve this question, the second and last part of the chapter puts forward a research agenda to explore changes in British management at the end of the 20th century. |
| Keywords: | History of Management Thought, Neo-liberalism, globalization, Thatcher, UK |
| JEL: | N4 N8 |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:bng:wpaper:15008&r=hpe |
| By: | Andrew E. Clark (PSE - Paris-Jourdan Sciences Economiques - CNRS - Institut national de la recherche agronomique (INRA) - EHESS - École des hautes études en sciences sociales - ENS Paris - École normale supérieure - Paris - École des Ponts ParisTech (ENPC), EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics) |
| Abstract: | Two behavioural explanations of the Easterlin Paradox are commonly advanced. The first appeals to social comparisons, whereby individual i compares her income (Yit) to a comparison income level earned by some other individual or group j (Y*jt). The second explanation is that of adaptation to higher levels of income. This is of the same nature, but here the individual’s current income is compared to her own income in the past (i.e. Yit is compared to Yit-τ, for some positive value or values of τ). The first of these explanations has attracted far more empirical attention than has the second. This is probably for data-availability reasons, as the investigation of the latter requires panel information. There is also a suspicion that large changes in Yit might be accompanied by a movement in some other variable that is also correlated with subjective well-being. We here review the empirical evidence that individuals do indeed compare current to past income, and then whether individuals adapt in general to aspects of their economic and social life. Last, we ask whether adaptation is in fact a viable explanation of the Easterlin Paradox. |
| Date: | 2015–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:pseose:halshs-01112725&r=hpe |
| By: | Ariane Lambert-Mogiliansky (PSE - Paris-Jourdan Sciences Economiques - CNRS - Institut national de la recherche agronomique (INRA) - EHESS - École des hautes études en sciences sociales - ENS Paris - École normale supérieure - Paris - École des Ponts ParisTech (ENPC), EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics); Ismael Martinez-Martinez (DUCE - Dusseldorf Institute for Competition Economics - Heinrich Heine Universitat, Dusseldorf) |
| Abstract: | We develop a framework for the analysis of strategic interactions under the constructive preference perspective à la Kahneman and Tversky formalized in the Type Indeterminacy model. The players are modeled as systems subject to measurements and characterized by quantum-like uncertain preferences. The decision nodes are modeled as, possibly non-commuting, operators that measure preferences modulo strategic reasoning. We define a Hilbert space of types spanned by the players' eigentypes representing their potential preferences in different situations. We focus on pure strategy TI games of maximal information where all uncertainty stems from the intrinsic indeterminacy of preferences. We show that preferences evolve in a non-deterministic manner with actions along the play: they are endogenous to the interaction. We propose the notion of cashing-on-the-go to compute a player's utility, and the Type Indeterminate Nash Equilibrium as a solution concept relying on best-replies at the level of the eigentypes. We illustrate an example exhibiting the phenomenon of the manipulation of rivals' preferences. |
| Date: | 2014–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:psewpa:hal-01095472&r=hpe |
| By: | Odile Blanchard (équipe EDDEN - PACTE - Politiques publiques, ACtion politique, TErritoires - CNRS - Grenoble 2 UPMF - Université Pierre Mendès France - IEPG - Sciences Po Grenoble - Institut d'études politiques de Grenoble - Grenoble 1 UJF - Université Joseph Fourier); Arnaud Buchs (Institute of Geography and Sustainability, - UNIL - Université de Lausanne - Université de Lausanne) |
| Abstract: | The article aims at assessing the effectiveness of a role-play in addressing two concerns: clarifying the concept of sustainable development and teaching sustainable development issues. The effectiveness is gauged by surveying students to reveal how the game matches a set of "significant learning" criteria defined by Fink (2003). Firstly, our article brings a short overview of how the concept of sustainable development has emerged and spread over time. Secondly, in order to assess the learning potential of our role-play, we examine how it addresses the six components of Fink's taxonomy of "significant learning": (i) foundational knowledge, (ii) application, (iii) integration, (iv) human dimensions, (v) caring and, (vi) learning how to learn. This taxonomy is analysed through a rigorous assessment methodology. The assessment shows that our role-play is highly praised by the players as it not only brings them foundational knowledge, but also allows them to enhance many skills. Thus, the framework of this role-play contributes to educating about sustainable development as well as educating for sustainable development. |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01103915&r=hpe |
| By: | Astrid Gamba (University of Milan-Bicocca, Milan, Italy); Tobias Regner (School of Economics and Business Administration, Friedrich-Schiller-University Jena) |
| Abstract: | We study experimentally whether heterogeneity of behavior in the Centipede game can be interpreted as the result of a learning process of individuals with different preference types (more and less pro-social) and coarse information regarding the opponent's past behavior. We manipulate the quality of information feedbacks provided after each play. If subjects rely only on their personal database, long run behavior resembles a Self-confirming equilibrium whereby less pro-social types take at earlier nodes due to prediction errors. Aggregate information release decreases heterogeneity of behavior by increasing the passing rates of pro-selfs and play moves towards Bayesian Nash equilibrium. |
| Keywords: | social preferences, learning, Self-confirming equilibrium, experiment |
| JEL: | C71 C73 C91 D83 |
| Date: | 2015–08–06 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2015-012&r=hpe |
| By: | Alain Burlaud (Centre de Recherche en Comptabilité du CNAM Paris - Conservatoire National des Arts et Métiers [CNAM]) |
| Abstract: | L'ouvrage traite de la comptabilité financière dans ses dimensions politiques et sociales. Il est organisé en six grandes parties : - la théorie comptable - la normalisation comptable - l'utilisation de l'information comptable - la profession comptable - la comptabilité et les systèmes d'information - la pédagogie de la comptabilité et de la gestion |
| Date: | 2014–12–15 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01132706&r=hpe |
| By: | Christian Walter (PHICO - Philosophies contemporaines - UP1 - Université Panthéon-Sorbonne, Le Collège d'études mondiales/FMSH - Fondation Maison des sciences de l'homme) |
| Abstract: | This paper gives an overview of the financial modelling of discontinuities in the behaviour of stock market prices. I adopt an epistemological perspective to present to the two main competitors for this stake: Mandelbrot's programme and the non-stable Lévy processes based approach. I explain this contest using the De Bruin's notions of refinement programme, over-mathematisation and model-tinkering: I argue that the non-stable Lévy based approach of discontinuities can be viewed as a " Black-Scholes model refinement programme " (BSMRP) in the De Bruin's sense, launched against the radical view of Mandelbrot. I use Sato's classification to contrast the two competitors. Next I present the two strands of research from an historical perspective between 1960 and 2000. Mandelbrot's initial model based on alpha-stable motions initiated huge controversies in the finance field and failed to fully describe the observed behaviour of returns due to the stronger fractal hypothesis. The mixed jump-diffusion non fractal processes began in the 1970s, followed after two decades by infinite activity processes in the 1990s. At the end, the time-change representation of the 2000s seems to unify the two competitors. |
| Abstract: | Deux programmes de recherche se partagent les travaux de modélisation des discontinuités des variations boursières entre les années 1960 et les années 2000 : le programme de Mandelbrot et le programme « pragmatique ». On présente ici ces deux programmes de recherche en les situant l’un face à l’autre. On montre comment le programme pragmatique a privilégié les améliorations techniques des modèles qui permettaient de conserver les manières usuelles de gérer le risque financier, sans remettre en cause les représentations collectives sur l’incertitude financière. On situe ces deux programmes au moyen de la classification de Sato. On montre comment le programme de Mandelbrot s’est trouvé confronté à un rejet radical par les « pragmatiques » dans les années 1970 et a finalement été abandonné dans les années 1980 pour des raisons de difficultés à la fois mathématiques et statistiques, l’hypothèse d’invariance de morphologie du risque selon l’échelle d’analyse des marchés (ou hypothèse « fractale ») n’étant pas corroborée par les tests effectués sur les marchés. On retrace l’évolution du programme pragmatique dans les années 1990 pour faire apparaître comment les hypothèses épistémologiques de ce programme retrouvent celles du programme de Mandelbrot sans l’hypothèse fractale. On suggère que, à partir des années 2000, les deux programmes se rejoignent épistémologiquement dans une nouvelle manière de comprendre la temporalité des marchés financiers : une dynamique qui évoluerait au gré d’un temps boursier intrinsèque différent du temps calendaire. |
| Date: | 2015–04–20 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01146581&r=hpe |
| By: | Maximilian Hoyer (CREED - Center for Research in Experimental Economics and Political Decision Making - Universiteit van Amsterdam, Cognitive Science Center Amsterdam - Universiteit van Amsterdam); Nadège Bault (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - CNRS - UCBL - Université Claude Bernard Lyon 1 - UL2 - Université Lumière - Lyon 2 - Université Jean Monnet - Saint-Etienne - PRES Université de Lyon - ENS Lyon - École normale supérieure - Lyon); Ben Loerakker (CREED - Center for Research in Experimental Economics and Political Decision Making - Universiteit van Amsterdam, Cognitive Science Center Amsterdam - Universiteit van Amsterdam); Frans Van Winden (CREED - Center for Research in Experimental Economics and Political Decision Making - Universiteit van Amsterdam) |
| Abstract: | Socially destructive behavior in a public good environment - like damaging public goods - is an underexposed phenomenon in economics. In an experiment we investigate whether such behavior can be influenced by the very nature of an environment. To that purpose we use a Fragile Public Good (FPG) game which puts the opportunity for destructive behavior (taking) on a level playing field with constructive behavior (contributing). We find substantial evidence of destructive decisions, sometimes leading to sour relationships characterized by persistent hurtful behavior. While positive framing induces fewer destructive decisions, shifting the selfish Nash towards minimal taking doubles its share to more than 20%. Female subjects are found to be more inclined to use destructive decisions. Finally, subjects’ social value orientation turns out to be partly predictive of (at least initial) destructive choices. |
| Date: | 2014–12–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01090199&r=hpe |
| By: | Issaka Dialga (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - UN - Université de Nantes); Thomas Vallée (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - UN - Université de Nantes) |
| Abstract: | Composite indicators (CIs) are essential in public debates and policies so the social demand for synthetic tools is constantly increasing. They are also subject to criticism (see Saisana and Saltelli 2010; Klugman et al., 2011) due to lack of a gold standard in their construction. The Index of Economic Freedom (IEF) is one of these tools subject to criticism because it suffers from methodological matters. The IEF lacks statistical validity because two of its components are strongly and negatively correlated with the others. Both components are causing significant variations in 95 percent of countries ranked. This paper deals with these issues by using Principal Components Analysis (PCA) and Benefit Of the Doubt (BOD) methods to generate component and country specific weights in computing the scores. The PCA and BOD analyses provide consistent results that differ dramatically with the baseline ones (results using equal weights). Given stable results provided by the PCA and BOD analysis, the IEF would receive broad legitimacy basing the calculation of its scores on endogenous weighting models. |
| Date: | 2015–07–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01178202&r=hpe |
| By: | Han , Xuehui (Asian Development Bank); Wei, Shang-Jin (Asian Development Bank) |
| Abstract: | Why do some economies grow faster than others? Do economies in the middle-income range face especially difficult challenges producing consistent growth? Using a transition matrix analysis on decade-level growth rates, we find that the data clearly reject the idea that middle-income economies either have a high absolute probability of being stuck where they are or have a higher relative probability of being stuck than the low- or high-income groups. In this sense, the notion of a “middle-income trap” is not supported by the data. However, economies in a given income range have different fundamentals and policies, and relative growth across economies may depend on these variables. Since development economists and practitioners have proposed a long list of variables that could affect growth, we employ a recently developed nonparametric classification technique (conditional inference tree and random forest) to decipher the relevance and relative importance of various growth determinants. We find that the list of variables that can help distinguish fast- and slow-growing economies is relatively short, and varies by income groups. For low-income economies, favorable demographics, macroeconomic stability, good education system, and good transport infrastructure appear to be the most important separating variables. For middle-income economies, favorable demographics, macroeconomic stability, sound global economic environment, and openness to foreign direct investment (FDI) appear to be the key discriminatory variables. This framework also yields conditions under which economies in the low- and middle-income range are trapped or even move backward. |
| Keywords: | conditional inference regression tree; economic growth; growth determinants; infrastructure; middle-income trap |
| JEL: | C14 C30 F01 O11 O43 |
| Date: | 2015–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbewp:0436&r=hpe |
| By: | Abel Brodeur (University of Ottawa - University of Ottawa); Mathias Lé (EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics, PSE - Paris-Jourdan Sciences Economiques - CNRS - Institut national de la recherche agronomique (INRA) - EHESS - École des hautes études en sciences sociales - ENS Paris - École normale supérieure - Paris - École des Ponts ParisTech (ENPC)); Marc Sangnier (AMSE - Aix-Marseille School of Economics - EHESS - École des hautes études en sciences sociales - Centre national de la recherche scientifique (CNRS) - Ecole Centrale Marseille (ECM) - AMU - Aix-Marseille Université); Yanos Zylberberg (School of Economics Finance and Management - University of Bristol) |
| Abstract: | Journals favor rejection of the null hypothesis. This selection upon tests may distort the behavior of researchers. Using 50,000 tests published between 2005 and 2011 in the AER, JPE, and QJE, we identify a residual in the distribution of tests that cannot be explained by selection. The distribution of p-values exhibits a two humped camel shape with abundant p-values above 0.25, a valley between 0.25 and 0.10, and a bump slightly below 0.05. The missing tests (with p-values between 0.25 and 0.10) can be retrieved just after the 0.05 threshold and represent 10% to 20% of marginally rejected tests. Our interpretation is that researchers might be tempted to inflate the value of those just-rejected tests by choosing a “significant” specification. We propose a method to measure this residual and describe how it varies by article and author characteristics. |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:psewpa:halshs-01158500&r=hpe |