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on History and Philosophy of Economics |
| By: | Michel Baupin (NIMEC - Normandie Innovation Marché Entreprise Consommation - UNICAEN - Université de Caen Normandie - NU - Normandie Université - ULH - Université Le Havre Normandie - NU - Normandie Université - URN - Université de Rouen Normandie - NU - Normandie Université - IRIHS - Institut de Recherche Interdisciplinaire Homme et Société - URN - Université de Rouen Normandie - NU - Normandie Université) |
| Abstract: | Dans les sciences de la nature, la recherche utilise la méthode expérimentale telle qu'elle a été définie par Galilée et reposant sur l'observation, la formulation de lois permettant de faire des prévisions, l'expérimentation cherchant à prouver que ces lois étaient justes ou, dans le cas contraire, qu'elles étaient réfutables. A en croire André Comte-Sponville dans le livre « Le capitalisme est-il moral ? » qu'il a publié en aux éditions Albin Michel en 2004, de même que ce ne sera jamais à la biologie de fixer des limites au clonage reproductif des êtres humains, la recherche en économie n'est pas capable de délimiter le champ du marché ni à définir comment celui-ci pourrait s'autoréguler pour éviter qu'il ne tyrannise la société. Cette comparaison méconnaît le fait que l'économie est une science sociale dont l'objet est d'étudier ce que font les hommes, individuellement et entre eux, ce qui n'est pas le cas de la biologie qui n'a pas à produire de théories visant à justifier ou non le clonage humain. Or, les anthropologues ont montré que l'échange d'objets ou de services est le premier moyen que l'homme ait utilisé pour entrer en relation avec d'autres hommes comme le montrent les études de Malinowski et de Boas respectivement sur la Kula et le Potlatch. De ce fait, il nous semble que le chercheur en économie devrait donc prendre l'échange comme point de départ à sa recherche qui devrait tendre vers une transaction se réalisant valeur pour valeur pour que, dans le contrat qui lie les coéchangistes, aucun des deux ne soit lésé. Cette proposition suppose que l'on puisse comparer la valeur des biens, ce qui n'est possible que s'ils ne sont pas rares et donc reproductibles à volonté comme l'ont montré les économistes classiques à la fin de XVIIIème siècle et au début du XIXème en fondant la valeur sur le travail qui est une grandeur mesurable. A partir du moment où, dans un effort au demeurant fort louable, les chercheurs néoclassiques à la fin de XIXème siècle ont voulu généraliser l'échange à tous les biens, qu'ils soient rares ou non, et à mathématiser celui-ci en faisant de l'utilité le fondement de la valeur, ils ont modifié de fond en comble le raisonnement économique que les classiques avaient commencé à élaborer. L'utilité étant une grandeur subjective non mesurable, ils ont introduit dans leurs propositions l'impossibilité de déterminer le champ du marché. Et pourtant, cette conception a été adoptée jusqu'à nos jours par presque tous les chercheurs non marxistes en économie, ce qui revient à dire que les idées n'ont pas évolué au cours du XXème siècle, les théories des coûts de transaction, des droits de propriété et de l'agence n'étant que des extensions de celles-ci qui ont inspiré sous l'influence des financiers américains au début des années 1980 le développement de l'économie d'endettement dont on peut voir depuis quelques années les effets ravageurs sur les systèmes économico-financiers mais aussi politico-sociaux de nos sociétés. La confusion des idées introduite par les néoclassiques a amené à brouiller les notions fondamentales d'une part de profit et de rente, et, d'autre part, de valeur et de richesse. Le profit est l'objet même de l'échange, ce qui le distingue de la rente qui n'est qu'un surplus dans l'échange dû à une position de monopole temporaire de l'entreprise qui la dégage. Par ailleurs, être riche est de pouvoir disposer de plus de biens et de services et non de valeur qui, unitairement diminue au fur et à mesure que l'on s'enrichit. C'est un des rôles fondamentaux du management que de mettre en oeuvre les conditions pour que cette valeur se reproduise dans le temps, notamment par la création de nouvelles compétences collectives. Cela suppose, |
| Date: | 2016–06–23 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01744992&r=hpe |
| By: | Tsoulfidis, Lefteris |
| Abstract: | The purpose of this article is, on the one hand, to shed light on some significant aspects of Ricardo's theory of value and on the other hand to show that Ricardo's insights about the explanatory power of the relative labour times on the movement of relative prices were in the right direction. For this purpose, Ricardo's theory of value is cast rigorously and in modern terms such that by using detailed intertemporal data from input-output tables of two major economies to show that Ricardo's insights are absolutely consistent with the facts. |
| Keywords: | David Ricardo; Value and distribution, Price-value deviations |
| JEL: | B12 B14 B16 B3 B4 B51 B52 C0 C1 C2 C3 C4 C5 C6 C67 D3 D4 D46 D57 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:85822&r=hpe |
| By: | Quintín Quílez Pedro |
| Abstract: | El tema de la herencia constituye un asunto menor dentro de la sociología desarrollada por Émile Durkheim (1858-1917). Sin embargo, su apuesta por la eliminación legal de la herencia familiar fue, para este autor, no solo la oportunidad de ofrecer una interpretación sociológica de su origen, función y evolución, sino sobre todo de situarse políticamente en los debates políticos del momento. Como resultado, Durkheim formuló una predicción sobre su futura desaparición. La herencia sería substituida por otras formas de transmisión de bienes más pertinentes para las sociedades modernas caracterizadas por una cada vez mayor división y especialización del trabajo. Si El capital en el siglo XXI (2013), el exitoso libro del economista Thomas Piketty, ha vuelto a poner sobre la mesa el papel jugado por el capital económico heredado en el actual incremento de la desigualdad social, vale la pena recordar lo que al respecto dijo uno de los padres fundadores de la sociología y de quien estamos conmemorando los cien años de su muerte. |
| Keywords: | Sociología clásica, Sociología económica, Herencia |
| Date: | 2018–03–30 |
| URL: | http://d.repec.org/n?u=RePEc:col:000149:016209&r=hpe |
| By: | Engelmann, Dirk; Friedrichsen, Jana; Kübler, Dorothea |
| Abstract: | Whether pro-social preferences identified in economic laboratories survive in natural market contexts is an important and contested issue. We find that the willingness to buy at a higher price when higher wages are paid to the worker in a laboratory experiment framed as a market exchange correlates both with the choice for a fair trade product before the laboratory experiment and with the willingness to pay a positive fair trade premium, elicited at the end of the experiment. These results support the notion that fairness preferences as assessed in laboratory experiments capture preferences in comparable situations outside the laboratory. |
| Keywords: | fairness,market experiments,external validity,fair trade |
| JEL: | C91 D01 D91 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wzbmbh:spii2018203&r=hpe |
| By: | Peter Dolton; George MacKerron |
| Abstract: | Football is the national sport of most of the planet. This paper examines how happy the outcomes of football matches make us. We calibrate these results relative to other activities and estimate the dynamic effects these exogenous events have on our utility over time. We find that football – on average – makes us unhappier – so why would we go through the pain of following a football team. This behavioural choice paradox occupies much of the paper so we investigate why we go on following our teams, even though matches make us more unhappy on average. We examine how much our story changes if we examine the dynamic effects of football matches over time in different hours before and after the game and the extent to which our happiness is influenced by what we would rationally expect the result to be beforehand – as based on the betting odds. |
| Keywords: | happiness, football, behavioural economics, irrationality, dynamic effects of outcomes, framed subjective utility |
| JEL: | D23 D03 |
| Date: | 2018–04 |
| URL: | http://d.repec.org/n?u=RePEc:nsr:niesrd:493&r=hpe |
| By: | Michel Baupin (NIMEC - Normandie Innovation Marché Entreprise Consommation - UNICAEN - Université de Caen Normandie - NU - Normandie Université - ULH - Université Le Havre Normandie - NU - Normandie Université - URN - Université de Rouen Normandie - NU - Normandie Université - IRIHS - Institut de Recherche Interdisciplinaire Homme et Société - URN - Université de Rouen Normandie - NU - Normandie Université) |
| Abstract: | Pour un dépassement des visions comptables actionnariale et partenariale Michel BAUPIN Chercheur associé au NIMEC (Normandie Innovation Marché Entreprise Consommation)-IAE – Université de Caen Basse-Normandie (14) RÉSUMÉ. Dans cette communication, nous tentons d'apprécier la pertinence des deux visions de la gouvernance de l'entreprise qui influencent la manière de concevoir la comptabilité, la relation entre la comptabilité et la gouvernance étant fondée sur la recherche par celle-ci de l'efficience organisationnelle. La vision actionnariale répond à la théorie du « propriétaire » selon laquelle l'entreprise représente ses propriétaires et n'a pas d'autonomie propre, l'objet de la comptabilité étant d'établir des comptes en vue de comparer les valeurs que sont les revenus, les coûts et leur solde appelé « résultat » qui n'a de sens qu'à l'égard des propriétaires qui en sont les bénéficiaires. A l'opposé, la vision partenariale répond à la théorie de l'« entité » selon laquelle les comptes sont envisagés sous l'angle de la séparation de l'entreprise et de ses propriétaires qui sont alors considérés comme de simples créanciers (Geschäftstheorie). Le capital apporté doit alors être géré car il représente un « coût », notion qui débouche sur une véritable mutation managériale. Nous proposons la construction d'une utopie de l'enregistrement comptable de l'acte d'échange qui donne à la gouvernance la possibilité d'inscrire le fonctionnement de l'entreprise dans une dynamique favorable aux actionnaires, aux salariés et aux clients. MOTS-CLÉS : valeur d'échange, création de valeur, échange valeur pour valeur, gouvernance, utopie, rente, coût du capital, théorie du propriétaire, théorie de l'entité, théorie de l'agence. ABSTRACT. In this communication, we are trying to appreciate the relevance of two visions of corporate governance that influence how to conceive accounting, the relationship between both of them is based on research by the latter's organizational efficiency. The shareholder's vision answers to the "ownership" theory that the company represents his owners and does not have self autonomy, the purpose of accounting is then to establish accounts in order to compare values which are incomes, costs and their balance called "result" which meaning only exists in respect of the shareholders who are beneficiaries for it. In contrast, the partnership's vision responds to the "entity" theory that the accounts are discussed in the context of the separation between the company and its shareholders who are then treated as mere creditors in the same way as other lenders (Geschäftstheorie). As a consequence, the injected capital must be managed because it represents a "cost", a concept that leads to a real mutation in managerial activities. We consider the issue of accounting theory in terms of the act of exchange, clarifiying in this way the notion of governance. |
| Keywords: | node markets, patrimonal fiction, positive theory of accounting, agency theory, entity theory, ownership theory, cost of capital,exchange value, value creation, annuity, gouvernance, échange valeur pour valeur, création de valeur,valeur d’échange, utopie, rente, coût du capital, théorie du propriétaire, théorie de l’entité, théorie de l’agence |
| Date: | 2016–05–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01744981&r=hpe |
| By: | Jon D. Wisman; |
| Abstract: | Ever since capitalism came to be recognized as a new economic system, its principal institutions of private property and markets have had vociferous critics, of whom none was more wide-ranging and influential than Karl Marx. Marx claimed that not only were private property and markets critical to creating an ideological patina of freedom behind which, as in slavery and feudalism, a small class extracted from the mass of producers practically all output above that necessary for bare subsistence, they were also corrupting. Yet Marx recognized that capitalism, unlike earlier exploitative systems, was radically dynamic, producing unprecedented wealth, while transforming not only all it inherited from the past, but also its own nature so as to eventually empower even the producers, who he believed would abandon these capitalist institutions. This article claims Marx was correct in identifying the core problem of capitalism to be its extreme inequality in the ownership and control of the means of production, but that finding fault with private property and markets has been a mistake that has impeded the generation of an attractive and viable alternative to capitalism. It concludes with an outline of an alternative which would eliminate the core problem of exploitation due to unequal ownership and control of the means of production, while retaining roles for private property and markets. It would entail two components: Guaranteed employment at living wages and democratic worker control of firms. |
| Keywords: | Inequality, Exploitation, Markets, Private property, Marx |
| JEL: | B51 P11 P16 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:amu:wpaper:2018-04&r=hpe |
| By: | Dario Debowicz; Alejandro Saporiti; Yizhi Wang |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:man:sespap:1801&r=hpe |
| By: | Stephen Roulac |
| Abstract: | It is broadly recognized that real estate has been subjected to a veritable tsunami of change forces dramatically impacting:Property use: Air BnBRetail shopping – AmazonWorkspaces – WeWork and other co-working modelsCapital access – FinTech innovations and crowd fundingUrbanization – prospectively accelerated by autonomous vehicles and proliferating high-rise constructionThese changes are not necessarily reflected in the focus of research topics investigated by the property research community. Mainstream real estate textbooks are even more innocent of these forces. Consequently, the academy is not well serving students studying property.This paper explores implications of change influence the concerns of property scholars and the contents of property curriculums. The study emphasis is on textbooks for introductory real estate principles. This research updates and extends prior research published in Journal of Real Estate Literature two decades ago ("Foundation of the Knowledge Structure: Review of Real Estate Principles Texts,") and a decade ago ("Shifting Foundations of the Real Estate Knowledge Structure").While the majority of real estate textbooks evaluated in the 1994 review were no longer in the market a decade later, significantly, the books that survived were more traditional. The survivors had become more non-traditional, placing greater emphasis on topics other than law and brokerage. Books not in the market in 1994, were even more traditional. Strikingly, economics was less emphasized in 2004 than a decade earlier. While the economy represented real-time empirical validation of Schumpeter’s classic principle of creative destruction, the same conclusion does not apply to the real estate principles textbooks.This paper provides a contemporary 2017 perspective on what is covered in introductory real estate principles textbooks, compares and contrasts that coverage to contemporary discovery research, and considers how topic emphasis has changed.At a time when the economy is more complex and factors that influence future performance of property goods and services are greater rather than fewer, many studying real estate principles are likely to find that their textbooks are less than adequate. Those pursuing real estate careers, whose initial knowledge foundation is built upon deficient, rather than superior professional services, shall be more likely to miscalculate in their decision-making and in making capital commitment. |
| Keywords: | Education; Innovation; Textbooks |
| JEL: | R3 |
| Date: | 2017–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2017_400&r=hpe |
| By: | LAURA VALLADÃO DE MATTOS |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:anp:en2016:5&r=hpe |
| By: | Jean-Sébastien Lenfant (CLERSE - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille, Sciences et Technologies - ULCO - Université du Littoral Côte d'Opale - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The paper proposes an overview of early reflections on the issue of quality in economics in the 20th century, within a context of mass production and rising demands from the consumers about product quality. This context (notably the New Deal era) fostered a number of studies and reflections on the part of agricultural economists, home economists, lawyers and reformers about the best way to account for quality uncertainty and quality variations in the economy. This literature is of interest to help us understand the way quality would be involved in analytical economics after WWII and the various rationale of the pro and con the use of official standards to coordinate economic activities. |
| Keywords: | Quality, Agricultural economics, New Deal, Consumer movement, Coordination, Standards |
| Date: | 2017–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01763828&r=hpe |
| By: | Maksym Obrizan (Kyiv School of Economics) |
| Abstract: | This paper analyses 1,672 articles published in English by economists working in Ukraine over 1991-2017 using SCOPUS database and bibliometrix package in R. Between 2011 and 2012 when the number of published papers increased more than ten times with Actual Problems of Economics and Economic Annals-XXI being the two most important outlets accounting for more than 70 percent of all publications. Despite this increased visibility the citation counts show rather modest contribution of economists in Ukraine. Regression analysis of citations indicates that articles with a foreign co-author and Digital Object Identifier are more likely to receive citations. |
| Keywords: | Economists, Ukraine, SCOPUS, bibliometrics, ranking |
| JEL: | A1 |
| Date: | 2018–03 |
| URL: | http://d.repec.org/n?u=RePEc:rcd:wpaper:3181&r=hpe |
| By: | Leites, Martin (Universidad de la República, Uruguay); Ramos, Xavier (Universitat Autònoma de Barcelona) |
| Abstract: | Income comparisons are important for individual well-being. We examine the shape of the relationship between relative income and life satisfaction, and test empirically if the features of the value function of prospect theory carry on to experienced utility. We draw on a unique dataset for a middle-income country, that allows us to work with an endogenous reference income, which differs for individuals with the same observable characteristics, depending on the perception error about their relative position in the distribution. We find the value function for experienced utility to be concave for both positive and, at odds with prospect theory, also negative relative income. Loss aversion is only satisfied for incomes that are sufficiently distant from the reference income. Our heterogeneity analysis shows that the slope of the value function differs across individuals who care differently about income comparisons, people with different personality traits, or social beliefs. |
| Keywords: | life satisfaction, relative income, loss aversion, prospect theory |
| JEL: | D6 I31 |
| Date: | 2018–03 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11404&r=hpe |
| By: | Karos, Dominik (General Economics 1 (Micro)); Kasper, Laura (universitaat des saarlandes; saarland university) |
| Abstract: | Farsighted deviations are based on agents' abilities to compare the outcome of a farsighted deviation to the status quo. However, agents do not account for deviations by others in case they do not change the status quo; so, they are not fully farsighted. We use extended expectation functions to capture a coalition's belief about subsequent moves of other coalitions in both cases. We provide three stability and optimality axioms on coalition behavior and show that an expectation function satisfies these axioms if and only if it corresponds to an equilibrium of the abstract game that is stable with respect to coalitional deviations. We provide applications of our solution for games in characteristic function form and matching problems. |
| Keywords: | abstract games, farsighted stability, expectation functions, coalition stable equilibrium |
| JEL: | C71 C72 |
| Date: | 2018–04–26 |
| URL: | http://d.repec.org/n?u=RePEc:unm:umagsb:2018011&r=hpe |
| By: | DANIELLE GUIZZO; IARA VIGO DE LIMA |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:anp:en2016:10&r=hpe |
| By: | Michel Baupin (NIMEC - Normandie Innovation Marché Entreprise Consommation - UNICAEN - Université de Caen Normandie - NU - Normandie Université - ULH - Université Le Havre Normandie - NU - Normandie Université - URN - Université de Rouen Normandie - NU - Normandie Université - IRIHS - Institut de Recherche Interdisciplinaire Homme et Société - URN - Université de Rouen Normandie - NU - Normandie Université) |
| Date: | 2017–12–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01744984&r=hpe |
| By: | Christian Pfeifer; Gesine Stephan |
| Abstract: | The authors analyze gender differences in fairness perceptions of own wages and subsequent wage growth. The main finding is that women perceive their wage more often as fair if controls for hourly wage rates, individual and job-related characteristics are taken into account. Furthermore, the gender difference is more pronounced for married than for single women. This points to the fact that social norms, gender roles, and gender identity are at least partly responsible for the gap in fairness perceptions. Further analysis shows that individuals, who perceive their wage as unfair, experience larger wage growth in subsequent years. An explanation would be that a wage perceived as unfair triggers negotiations for a better wage or induces individuals to search for better paid work. Thus, differences in wage perceptions can contribute to explain the nowadays still persistent gender wage gap. |
| Keywords: | gender differences, fairness, social norms, wages, wage growth |
| JEL: | J16 J31 J71 A12 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwsop:diw_sp963&r=hpe |