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on History and Philosophy of Economics |
| By: | Thomas Delcey (LEDi - Laboratoire d'Economie de Dijon [Dijon] - UBE - Université Bourgogne Europe) |
| Abstract: | Where does financial economics come from? This article studies the origins of foundational ideas of financial economics such as price spreads, arbitrage, and the interpretation of price as a reflection of information. Based on his publications and archival and interview materials, this article traces Holbrook Working's intellectual journey between the 1920s and 1960s. Working was a leading North American agricultural economist who conducted pioneering analyses of futures markets and speculation and strongly influenced early financial economists like Paul Samuelson, Paul Cootner, Hendrick Houthakker, and Lester G. Telser. Working sheds light on a North American view of speculation that contrasted with the prevailing British view. |
| Date: | 2025–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05056404 |
| By: | Lukas Starchl (University of Graz, Austria) |
| Abstract: | Ludwig Mises' interest in large-scale problems concerning the institutional framework and social as well as economic requirements for a well-functioning economy, makes Mises' writings on supranational governance particularly interesting. Based on a reading of his German language publications and archival material, this paper analyzes the development of Ludwig Mises' ideas of supranational governance in his time in Vienna and locates them in the broader historical and intellectual context. The paper focuses on two particularly important elements of that project. First, his steadily vanishing trust in a narrowly defined popular enlightenment, to be understood as his trust in the peoples' capacity to grasp the perceived infallibility of liberal economics and consequently the harmony of interest across all individuals. The second element, inextricably linked to the first one, is his perspective on democracy and its role in the political framework of a global capitalist order. |
| Keywords: | Ludwig Mises, Supranational Governance, Democracy and Economics, Global Capitalism, Nationalism and Economics |
| JEL: | B13 B25 B53 P16 F15 F55 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:grz:wpaper:2025-07 |
| By: | Sylvain Zeghni (LVMT - Laboratoire Ville, Mobilité, Transport - ENPC - École nationale des ponts et chaussées - Université Gustave Eiffel) |
| Abstract: | Note de lecture sur l'ouvrage de Nat DYER, Ricardo's Dream : How Economists Forgot the Real World and Led Us Astray, Bristol University Press, 2024, 344 pages |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05072949 |
| By: | Gerardo Sabater-Grande (LEE and Department of Economics, Universitat Jaume I, Castellón, Spain); Maite Alguacil (IIE and Departament of Economics, Universitat Jaume I, Castellón, Spain); Noemí Herranz-Zarzoso (Department of Economic Analysis, Universitat de València, Spain) |
| Abstract: | We implemented a two-phase experiment to investigate economic dishonest behavior in the field. In the first phase, we conducted a laboratory experiment in which subjects completed four questionnaires in exchange for being rewarded with €10 via bank transfer. In the second phase, subjects were randomly assigned to three treatment groups. One-third of the subjects were intentionally underpaid by €5, another third was overpaid with an extra of €5 and the final third received an additional €15 beyond the stipulated reward. To assess subjects’ awareness of these payments, we emailed upon their receipt data of the bank transfer. We found that overpaid participants overwhelmingly underreported the discrepancy compared to those who were underpaid, revealing a strong dishonesty pattern. After controlling for potential covariates, including socio-economics demographics, self-reported personality traits, cognitive ability, and measures of altruism and trustworthiness revealed in experimental games, it was observed that participants who received a larger overpayment exhibited greater honesty compared to those who were overpaid in a lesser extent. This finding suggests that as the level of temptation increases, the psychological costs of being dishonest may outweigh its monetary benefits. |
| Keywords: | randomized field experiment; economic dishonesty; trustworthiness; altruism; cognitive ability, dark triad; HEXACO honesty-humility |
| JEL: | C93 D03 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:jau:wpaper:2025/05 |