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on History and Philosophy of Economics |
| By: | Christophe Lavialle (LEO - Laboratoire d'économie d'Orleans - CNRS - UO - Université d'Orléans) |
| Abstract: | Dans un texte de 1933 publié par The Yale Review, John Maynard Keynes présente ses arguments en faveur de l'autosuffisance nationale. Il y plaide pour le refus d'un internationalisme sans contrôle, et propose aux pays démocratiques adeptes du libéralisme politique de mettre en oeuvre le niveau de patriotisme économique adapté au maintien de leurs équilibres sociaux et à la promotion d'une « république sociale idéale ». Alors que la crise déclenchée en 2008, qui par bien des aspects montre les limites d'une globalisation financière et réelle sans contrôle, a remis au goût du jour l'enseignement du maître de Cambridge, cet article produit un écho tout à fait surprenant. Le pari de cette communication est alors qu'il peut être précisément éclairant d'analyser les enjeux de la période en cours à la lumière de cet écrit et des positions qu'y développe Keynes, pour voir, si sur ce thème aussi, sa pensée reste actuelle et riche d'enseignements. L'objet de la communication est donc de repérer les différents arguments avancés par Keynes dans son texte et d'en analyser l'actualité ou l'obsolescence. Il est aussi de rapprocher l'argumentaire, essentiellement intuitif, de celui, analytique, développé trois ans plus tard dans la Théorie Générale. Il est enfin de l'inscrire dans la philosophie globale qui est celle de Keynes des questions économiques, politiques et morales. |
| Keywords: | pragmatisme.,nationalisme économique,libéralismes,Keynes |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01204666&r=all |
| By: | Adrien Lutz (Université de Lyon, Lyon, F-69007, France ; CNRS, GATE Lyon St Etienne,F-69130 Ecully, France, Université Jean Monnet, Saint-Etienne, F-42000, France) |
| Abstract: | A standard reading in the history of economic thought considers Saint-Simonianism to be embodied in the works of a set of European social thinkers including Robert Owen, William Godwin and Sismondi, all of whom are seen as standing in strict opposition to the doctrine of laissez-faire. This article, however, argues that, during the first quarter of the 19th century, the Saint-Simonians and the liberal economist Jean-Baptiste Say can be seen to adopt convergent views on commercial gluts. First, it shows how the Saint-Simonians and Say both see undersupply and lack of industry as causes of gluts. Next, we assert that their intellectual affinities are also visible in their belief that increasing production remains an appropriate solution for gluts. Finally, this convergence is explained by their common heritage : Saint-Simonianism is embedded in a neo-Smithian tradition for which Say can be taken as representative. We argue that this legacy explains their convergence. |
| Keywords: | Saint-Simonianism, Jean-Baptiste Say, Adam Smith, Laissez-faire, Commercial gluts |
| JEL: | B10 E5 N00 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:gat:wpaper:1523&r=all |
| By: | Luis José Blas Moreno Garrido (Dpto. Métodos Cuantitativos y Teoría Económica) |
| Abstract: | I propose a new utility function based on the relative aversion to injustice to explain why, in bargaining games, neither classical equilibria nor inequality aversion equilibria hold when money is not windfall, but it is the result of the effort. This utility function generalizes the concept of inequality aversion when agents have beliefs about what they deserve, and it is able to explain rejections in non zero-sum games. I analyze the agents' behavior and their bargaining power in the dictator game, ultimatum game and (0,1)-ultimatum game and results are compared within those games. |
| Keywords: | Injustice Aversion, Distribution, Property Rights, Bargaining power |
| JEL: | D3 D63 D64 P14 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:ivi:wpasad:2015-08&r=all |
| By: | Tunde Adeleke (Center for American Intercultural Studies, Iowa State University, USA) |
| Abstract: | Several scholars have acknowledged and discussed the otherworldly character of Black religion in America. From its inception in the late eighteenth century, the Black Church had embraced an otherworldly and providential theology that tied the challenges of the black struggle to the promises of a better and compensatory world to come. The adoption of this theology, however, provoked conflict with the bourgeoning black abolitionist movement of the early nineteenth century. Centered on the doctrine of moral suasion, the conflict between the theology preached by some Black Churches, and the black abolitionist movement, especially in relation to the daily struggles of blacks for freedom and equality, remains a neglected subject. In the early phase of his career, Martin Delany (1812-1885) became the focus of this conflict. He made it the centerpiece of his anti-slavery crusade. Convinced that black American progress was stymied by a theology that discouraged self-deterministic initiatives, Delany publicly challenged the leading black churches, drawing attention to the limitations and problematic nature of otherworldly theology. He advanced a secularist conception of religion, one informed and driven by a self-deterministic ethos that taught blacks to rely less on the promises of a better world, and more on their own agency and capacity to transform their condition, and fulfill their destinies HERE and NOW. He described this self-determinism, secularism and this-worldly disposition as the true essence of Christianity. In the process, he brought public attention to a contradiction within black “liberation” theology. This paper is an attempt to draw scholarly attention to this critical but neglected theme in the responses of some of the leading early Black Churches to anti-slavery. Delany’s crusade represented perhaps one of, if not, the earliest public articulation and defense of liberation theology by a black American. |
| Keywords: | Providentialism, Otherworldly, This-Worldly, Abolitionism, Colonization |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2804607&r=all |
| By: | Senderski, Marcin |
| Abstract: | Utility has long been a debatable concept, with many competing interpretations. The Austrian school and the neoclassical school, however broad these categories may seem, have made the most substantial and, by the same token, the most contrasting contributions to the theory of value. The paper’s goal is not to adjudicate past arguments or observe the evolution of the theory, but rather to resolve contemporary misunderstandings. The references are made to such trouble spots as subjectivism vs. objectivism, cardinality vs. ordinality, and mathematical formalism vs. verbal formalism. Both schools entrenched themselves in their views long ago. Nevertheless, this paper shows that discussing utility on common ground and on the basis of shared presumptions is not necessarily the melody of the future. The paper is concluded with recommendations on how the current dissent may be attenuated. |
| Keywords: | Austria; Austrian school; economic thought; heterodox economics; neoclassical school; utility |
| JEL: | B41 B53 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:67024&r=all |
| By: | Ceparano, Maria Carmela; Quartieri, Federico |
| Abstract: | We prove the existence of a unique pure-strategy Nash equilibrium in nice games with isotone chain-concave best replies and compact strategy sets. We establish a preliminary fixpoint uniqueness argument showing sufficient assumptions on the best replies of a nice game that guarantee the existence of exactly one Nash equilibrium. Then, by means of a comparative statics analysis, we examine the necessity and sufficiency of the conditions on (marginal) utility functions for such assumptions to be satisfied; in particular, we find necessary and sufficient conditions for the isotonicity and chain-concavity of best replies. We extend the results on Nash equilibrium uniqueness to nice games with upper unbounded strategy sets and we present "dual" results for games with isotone chain-convex best replies. A final application to Bayesian games is exhibited. |
| Keywords: | Nash equilibrium uniqueness; Chain-concave best replies; Nice games; Comparative statics; Strategic complementarity. |
| JEL: | C61 C72 |
| Date: | 2015–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:67080&r=all |
| By: | Rui Coimbra Gonçalves (Centre of Classical and Humanistic Studies, Faculty of Arts and Humanities of the University of Coimbra) |
| Abstract: | All along the scholasticism the theologians faced the problem of atheism among the infidels, that they thought to be found in the Jews and Arabs and later in its infinity of degrees comprised in the bosom of the newly conquered peoples from the overseas, mainly the Americas and the then so-called Eastern Indies.Saint Thomas Aquinas, who only could have notice of his contemporary gentile people from the other monotheistic religions, namely the Jews and Muslims, largely recognised in them natural capacities to reach oneself domination, in order to use speculative sciences, the practical reason and the moral virtues (Summa Theologica). And while discussing the real range comprised in their virtual competences, he could shape these last in a minor work like In omnes beati Pauli Apostoli espistolas commentaria ad Romanos.When we reach the age of the Iberian Second Scholasticism, the struggle to determine how to cope with the aborigines from the new territories of the Discoveries, dictated sometimes severe conclusions. Among them there are those according to which, as for Francisco Suárez in his treatise De Fide, Spe et Charitate, the Church would have legitimacy to employ force through the secular arm delegated in a prince of the Christianity if any native nation refused to be evangelized. Such an idea was partly based on Francisco de Vitoria who, following in his turn the own Aquinas’ thought, preached something alike on the same subject in his Relectio de Indis.On contrary, Luis de Molina (De Iustitia et Iure), like Bartolomé de las Casas and Father António Vieira reporting the situation on the lands of Mexico and Brazil, fought clearly for the defence by which the conquered peoples should convert in practical actions their claim to maintain a condition of independence and resistance against any foreign power.However this disputation arose in its complexity some contradictions. Suárez admitted for instance that the same Christian sovereign could be thrown down from his throne by several reasons including some kinds of confessional deviation, like to adopt polytheism as the official religion of the State. In order to prevent this he even admitted to establish alliances with infidel rulers and recover so the former religion professed by the people under the undue rule of a mighty tyrant leader.Here are several outstanding spirits, not all of them fully identifiable with the complex adventure of deal with the diverse other individual one and his atheistic disparities. |
| Keywords: | Saint Thomas Aquinas, Scholasticism, Francisco Suárez |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2805191&r=all |
| By: | Pierre Bernhard (BIOCORE team, INRIA Sophia Antipolis-Méditerranée); Marc Deschamps (CRESE, BETA-CNRS and OFCE-Sciences Po., Univ. Bourgogne Franche-Comté) |
| Abstract: | We consider a dynamic game where additional players (assumed identical, even if there will be a mild departure from that hypothesis) join the game randomly according to a Bernoulli process. The problem solved here is that of computing their expected payoff as a function of time and the number of players present when they arrive, if the strategies are given. We consider both a finite horizon game and an infinite horizon, discounted game. As illustrations, we discuss some examples relating to oligopoly theory (Cournot, Stackelberg, cartel). |
| Keywords: | Dynamic game, Bernoulli process of entry, Oligopoly |
| JEL: | C72 C61 D21 L13 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:crb:wpaper:2015-13&r=all |
| By: | Maxime Menuet (LEO - Laboratoire d'Economie d'Orléans - CNRS - Université d'Orléans); Christophe Lavialle (LEO - Laboratoire d'économie d'Orleans - CNRS - UO - Université d'Orléans) |
| Abstract: | L'influence, en France, du Jansénisme, sur les premiers développements de l'économie politique, notamment autour du Cercle de Gournay, est aujourd'hui quelque chose de bien renseigné. A leur tour, ces développements de l' économie politique pré-classique vont nourrir la volonté d’émancipation de la Bourgeoisie de Robe au XVIIIe siècle. Notre hypothèse de départ est que le Jansénisme a pu ainsi jouer, dans le grand pays Catholique qu'est alors la France, le rôle, identifié depuis Max Weber, qu'a jouée,dans les pays où elle domine, la diffusion de « l'éthique protestante » sur le développement d'un « esprit du capitalisme ». Nous revendiquons alors la nécessité de revenir au sources théologiques du « premier jansénisme », dans sa volonté de mener une Contre-Réforme qui puise à la double source de l'église tridentine et de l'augustinisme, pour comprendre comment « l'éthique » janséniste a pu justifier des conduites de vie relevant d'une forme « d'esprit du capitalisme ». Pour identifier cette singularité de la théologie janséniste, et l'influence qu'elle a pu avoir sur les conduites de vie et les postures politiques de la bourgeoisie libérale au XVIIIe siècle, nous centrons cet article sur la vision qui peut en découler du travail comme acte libre et hédoniste. |
| Keywords: | Jansénisme,travail,esprit du capitalisme. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01204578&r=all |
| By: | Becker, Nicole; Häger, Kirsten; Heufer, Jan |
| Abstract: | In Becker et al. (2013a,b), we proposed a theory to explain giving behaviour in dictator experiments by a combination of selfishness and a notion of justice. The theory was tested using dictator, social planner, and veil of ignorance experiments. Here we analyse gender differences in preferences for giving and notions of justice in experiments using the same data. Similar to Andreoni and Vesterlund (2001), we find some differences in giving behaviour. We find even stronger differences in the notion of justice between men and women; women tend to be far more egalitarian. Using our preference decomposition approach from Becker et al. (2013a) and parametric estimates, we show that differences in the giving behaviour between men and women in dictator experiments are explained by differences in their notion of justice and not by different levels of selfishness. We employ both parametric and non-parametric techniques, and both methods confirm the result. |
| Abstract: | In Becker et al. (2013a,b) haben wir eine Theorie eingeführt, die das Verhalten in Diktatorspielen als Kombination aus Eigennutz und Gerechtigkeitsvorstellung erklärt. Die Theorie wurde mit Diktatorspielen, Sozialer-Planer-Spielen, und Schleier-der-Ignoranz-Spielen getestet. Hier analysieren wir jetzt Geschlechterunterschiede in den Präferenzen für das Abgeben von Geld und den Gerechtigkeitsvorstellungen in Experimenten mit den selben Daten. Ähnlich wie bei Andreoni und Vesterlund (2001) finden wir einige Unterschiede im Verhalten beim Abgeben von Geld. Die Unterschiede in den Gerechtigkeitsvorstellungen zwischen Männern und Frauen sind noch deutlicher: Frauen tendieren erheblich stärker zu Egalitarismus. Mit unserem Ansatz zur Zerlegung von Präferenzen aus Becker et al. (2013a) und parametrischen Schätzungen zeigen wir, dass Unterschiede im Verhalten beim Abgeben von Geld zwischen Männern und Frauen in Diktatorspielen durch Unterschiede in den Gerechtigkeitsvorstellungen erklärt werden können, aber nicht durch unterschiedliche Grade an Eigennutz. Wir nutzen sowohl parametrische als auch nicht-parametrische Ansätze, welche beide das Ergebnis bestätigen. |
| Keywords: | altruism,dictator games,distribution,experimental economics,gender differences,justice,social preferences |
| JEL: | C91 D12 D61 D63 D64 J16 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:578&r=all |
| By: | Takashi Yamada (Faculty of Global and Science Studies, Yamaguchi University); Nobuyuki Hanaki (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis - CNRS) |
| Abstract: | We experimentally study Lowest Unique Integer Games (LUIGs). In a LUIG, N (>= 3) players submit a positive integer up to M and the player choosing the smallest number not chosen by anyone else wins. LUIGs are simplified versions of real systems such as lottery games and Lowest/Highest Unique Bid Auctions that have been attracting attention from scholars, yet experimental studies are still scarce. Here, we consider four LUIGs with N={3,4} and M={3,4}. We find that (a) choices made by a majority of subjects over 50 rounds of a LUIG were not significantly different from that in the symmetric mixed-strategy Nash equilibrium (MSE) of the LUIG; however, (b) those subjects who behaved significantly differently from what the MSE predicts won the game more frequently than those who behaved similarly to what the MSE predicts. |
| Keywords: | Lowest Unique Integer Game, Laboratory Experiment |
| Date: | 2015–09–24 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01204814&r=all |
| By: | Paul Studtmann |
| Abstract: | In this paper I present a mathematically novel approach to the Prisoner's Dilemma. I do so by first defining recursively a distinct action type, what I call 'universalizing', that I add to the original prisoner's dilemma. Such a modified version of the Prisoner's Dilemma provides a very food productive model of the choices that would be made in a prisoner's dilemma by agents who trust each other. As I show, players playing a universalized prisoner's dilemma get as far out of the dilemma as is mathematically possible. I then add the concept of risk to the universalized version of prisoner's dilemma. Doing so provide a model that is sensitive to the trustworthiness of the agents in any prisoner's dilemma. As I show, with no risk, agents get out of the prisoners dilemma; and with maximal risk, the succumb to it. succumb to it. |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1510.00665&r=all |
| By: | Bobtcheff, Catherine; Bolte, Jérôme; Mariotti, Thomas |
| Abstract: | We propose and analyze a general model of priority races. Researchers privately have breakthroughs and decide how long to let their ideas mature before disclosing them, thereby establishing priority. Two-researcher, symmetric priority races have a unique equilibrium that can be characterized by a differential equation. We study how the shape of the breakthrough distribution and of the returns to maturation affect maturation delays and research quality, both in dynamic and comparative-statics analyses. Making researchers better at discovering new ideas or at developing them has contrasted effects on research quality. Being closer to the technological frontier enhances the value of maturation for researchers, which mitigates the negative impact on research quality of the race for priority. Finally, when researchers differ in their abilities to do creative work or in the technologies they use to develop their ideas, more efficient researchers always let their ideas mature more than their less efficient opponents. Our theoretical results shed light on academic competition, patent races, and innovation quality. |
| Keywords: | priority races; private information |
| JEL: | C73 D82 |
| Date: | 2015–10 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:10858&r=all |
| By: | Viviana A Gutierrez Rincon; Jairo A Salas Paramo (Faculty of Economics and Management, Pontificia Universidad Javeriana Cali) |
| Abstract: | This paper is a review of the Institutional Theory, starting from a comparison and contrast of the work of its principal authors, with the purpose to show the evolution of institutional perspectives used in organizational analysis. To this end, was performed a review of the most representative papers of Institutional Theory or "Old" institutionalism, the "New" or Neoinstitutionalism and a systematization of the citations to these articles. In addition to identifying the approaches of the new institutional perspectives (change, work, entrepreneurship and institutional logics) and their representative authors. |
| Keywords: | institutional theory, institutional change, institutional work, institutional entrepreneurship, institutional logics |
| JEL: | M10 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:ddt:wpaper:10&r=all |
| By: | Henri Sterdyniak (OFCE) |
| Abstract: | Les concepts de production et de croissance potentiels restent très utilisés dans les débats de politique économique. La première partie de l’article en discute les fondements théoriques et en montre les ambiguïtés. Il existe plusieurs définitions de la production potentielle, selon les contraintes prises en compte. Celle-ci ne peut être évaluée hors d’une analyse macroéconomique complexe. La deuxième partie présente et discute les travaux empiriques récents évaluant la croissance potentielle ; elle examine la façon dont ils ont passé la crise de 2008 et la manière dont ils rendent compte d’une éventuelle rupture de la croissance potentielle. Elle montre les limites des méthodes utilisées qui aboutissent souvent à justifier des politiques contra-cycliques. La dernière partie présente le débat sur la croissance potentielle future. Elle montre que le problème n’est pas tant son éventuel ralentissement, que l’incapacité des pays développés à élaborer une stratégie économique permettant d’atteindre une croissance de plein emploi, compte tenu des contraintes induites par la mondialisation. |
| Keywords: | Croissance potentielle; Gouvernance de la zone euro |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:spo:wpmain:info:hdl:2441/7o24q1t4948rnq6736t85td2gv&r=all |
| By: | Michel Vigezzi (CREG - Centre de recherche en économie de Grenoble - Grenoble 2 UPMF - Université Pierre Mendès France) |
| Abstract: | From three texts by Jean-Baptiste Say (Olbie ... 1800, Full Course…1819 and a Letter to Malthus in 1820 processing machinery) and a historical approach to technical changes of this period, we will make three observations : 1. Say-entrepreneur is at the heart of the industrial revolution but can not have an overall vision... ; 2. His multiform social status can't develop this overall vision and leads to an descriptive vision favoring the recensions... ; 3. Despite this absence, Say was one of the first economists to focus on the technical changes despite a conflict between his approach in terms of production and his conclusions focused on the creation of utilities and income distribution and expenses. In conclusion, we shall identify a second "Law of Say": the increasing difficulty of financing innovations and of their developments lead to the cancellation of their disadvantages. |
| Abstract: | À partir de trois textes de Jean-Baptiste Say (Olbie… de 1800, Cours complet… de 1819 et une Lettre à Malthus en 1820 traitant des machines) et d'une approche historique des changements techniques de cette période, nous formulerons trois constats : 1. Say-entrepreneur est au coeur de la révolution industrielle mais ne peut en avoir une vision d'ensemble… ; 2. Son statut social multiforme l'empêche de développer cette vision d'ensemble et le conduit à une vision descriptive privilégiant les recensions… ; 3. Malgré cette absence, Say a été l'un des premiers économistes à s'intéresser aux changements techniques même si une contradiction apparaît entre son approche en terme de production et ses conclusions centrées sur la création d'utilités et sur la répartition des revenus et des charges. En conclusion, on identifiera ainsi une seconde "Loi de Say" : les difficultés croissantes du financement des innovations et leur développement conduisent à l'annulation de leurs inconvénients. |
| Keywords: | changement technique , économiste , entrepreneur , industrie , industrie textile , innovation , pensée économique , révolution industrielle |
| Date: | 2014–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01204791&r=all |
| By: | HIRAGUCHI Ryoji |
| Abstract: | We investigate a simple continuous-time overlapping generations model with a neoclassical production function and technological progress. We demonstrate that the degree of wealth inequality is positively related to the difference between the real interest rate <i>r</i> and the growth rate of income per capita <i>g</i>, and if <i>g</i> falls, the <i>r-g</i> gap widens and inequality worsens. We also argue that a wealth tax reduces the wealth inequality. All of these results are consistent with the famous predictions advanced by Thomas Piketty in <i>Capital in the Twenty-First Century</i> (2014). We next investigate consumption tax and find that it enhances capital accumulation and reduces <i>r-g</i>, and thus wealth inequality. |
| Date: | 2015–10 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:15117&r=all |
| By: | Kuzmin, Evgeny |
| Abstract: | The paper's research focus is a methodological issue of a relationship between the uncertainty and risks, their co-evolutionary influence on each other. To discuss this, we in details describe the "projectionness" as an available specific property of the economic mechanism. It manifests itself in variability of the uncertainty apperception force that presents a power of its transformation into the risk. In the author's model of the cycle, we have presented the uncertainty dynamics, where a multi-level vector of the spiral motion complements a traditional linear sequence in a turnover of various types of the uncertainty. An aprioristic connection between the entropy and risks allows us to make a reasonable conclusion in the paper that the preventive management task is selective regarding both the risks themselves, and the uncertainty. |
| Keywords: | Uncertainty, Sustainability, Projectionness, Cyclicity, Uncertainty vector, Risk tetraplet, Vartational uncertainty. |
| JEL: | D81 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:67028&r=all |