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Author: Suren Basov
Publisher: Springer
ISBN: 9811010412
Category : Business & Economics
Languages : en
Pages : 181
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Book Description
This book investigates the ways in which social norms and bounded rationality shape different contracts in the real world. It brings into focus existing research into optimal contracts, draws important lessons from that research, and outlines prospects for future investigation. Bounded rationality has acknowledged effects on the power of incentive provisions, such as deviations from sufficient statistic theorem, the power of optimal incentives, and the effects of optimal contracts in multicultural environments. The introduction of social norms to bounded rationality opens up new avenues of investigation into contracts and mechanism design. This book makes an important contribution to the study of bounded rationality by pulling together many separate strands of research in the area of mechanism design, and providing detailed analysis of the impact of societal values on contracts.
Author: Suren Basov
Publisher: Springer
ISBN: 9811010412
Category : Business & Economics
Languages : en
Pages : 181
Get Book Here
Book Description
This book investigates the ways in which social norms and bounded rationality shape different contracts in the real world. It brings into focus existing research into optimal contracts, draws important lessons from that research, and outlines prospects for future investigation. Bounded rationality has acknowledged effects on the power of incentive provisions, such as deviations from sufficient statistic theorem, the power of optimal incentives, and the effects of optimal contracts in multicultural environments. The introduction of social norms to bounded rationality opens up new avenues of investigation into contracts and mechanism design. This book makes an important contribution to the study of bounded rationality by pulling together many separate strands of research in the area of mechanism design, and providing detailed analysis of the impact of societal values on contracts.
Author: Jonathan Benchimol
Publisher: International Monetary Fund
ISBN: 1498324584
Category : Business & Economics
Languages : en
Pages : 52
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Book Description
The form of bounded rationality characterizing the representative agent is key in the choice of the optimal monetary policy regime. While inflation targeting prevails for myopia that distorts agents' inflation expectations, price level targeting emerges as the optimal policy under myopia regarding the output gap, revenue, or interest rate. To the extent that bygones are not bygones under price level targeting, rational inflation expectations is a minimal condition for optimality in a behavioral world. Instrument rules implementation of this optimal policy is shown to be infeasible, questioning the ability of simple rules à la Taylor (1993) to assist the conduct of monetary policy. Bounded rationality is not necessarily associated with welfare losses.
Author: Lukman Hanif Arbi
Publisher: Taylor & Francis
ISBN: 1000989356
Category : Business & Economics
Languages : en
Pages : 113
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Book Description
This book bridges the gap between Islamic and conventional (micro)economics by demonstrating how modern tools and theories of microeconomics can be applied to Islamic assumptions regarding economics and finance. In contrast to the tendency for Islamic economics and finance proponents to use qualitative and normative approaches based on idealistic assumptions, this book demonstrates how one can instead construct analytical models of Islamic economics and finance and simply compare the implications with those predominant in today’s world. This book also offers extensive literature reviews demonstrating that for a long time, the gap between Islamic and conventional economics and finance is not as wide as previously thought, allowing those with an interest in both fields to participate more effectively and meaningfully in the ongoing discourse between the two fields. The authors conceptualize a general approach and apply it to basic consumer theory. More advanced microeconomic ideas are then discussed, culminating in demonstrations of how contract theory can facilitate a deeper analysis and appreciation of Islamic financial securities. A wide spectrum of academic literature on both Islamic and conventional economics and finance is drawn upon to facilitate a better appreciation for both fields and to inspire future works comparing the two in a more objective manner.
Author: Cristina Hanganu-Bresch
Publisher: Taylor & Francis
ISBN: 1000847756
Category : Science
Languages : en
Pages : 193
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Book Description
This book explores themes in the rhetoric of vegetarian discourse. A vegan practice may help mitigate crises such as climate change, global health challenges, and sharpening socioeconomic disparities, by ensuring both fairness in the treatment of animals and food justice for marginalized populations. How the message is spread is crucial for these aims. Vegan practices thus uncover tensions between individual dietary choices and social justice activism, between ego and eco, between human and animal, between capitalism and environmentalism, and within the larger universe of theoretical and practical ethics. The chapters apply rhetorical methodologies to understand vegan/vegetarian discourse, emphasizing, for example, vegan/vegetarian rhetoric through the lens of polyphony, the role of intersectional rhetoric in becoming vegan, as well as ecofeminist, semiotic, and discourse theory approaches to veganism. The book aims to show that a rhetorical understanding of vegetarian and vegan discourse is crucial for the goals of movements promoting veganism. The book is intended for a wide interdisciplinary audience of scholars, researchers, and individuals interested in veganism, food and media studies, rhetorical studies, human-animal studies, cultural studies and related disciplines. It urges readers to examine vegan discourses seriously, not just as a matter of personal choice or taste but as one vital for intersectional justice and our planetary survival.
Author: Suren Basov
Publisher: World Scientific
ISBN: 9813143975
Category : Business & Economics
Languages : en
Pages : 202
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Book Description
Microeconomics studies the choices made by individuals under conditions of scarcity of resources and time and the interaction between different decision makers. Scarcity forces economic actors to choose one opportunity among many. Microeconomics with Spreadsheets starts with the mathematical preliminaries and covers consumer theory, producer theory, general equilibrium, game theory, market structure and economics of information.The reader will use numerical tools to analyse problems that cannot be analysed analytically. There is a natural synergy between rigorous proofs and numerical methods, since before using a numerical method one should also prove that a solution exists and analyse whether it is unique, and therefore be able to interpret properly the output of a program.
Author: Ariel Rubinstein
Publisher: MIT Press
ISBN: 9780262681001
Category : Business & Economics
Languages : en
Pages : 226
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Book Description
The notion of bounded rationality was initiated in the 1950s by Herbert Simon; only recently has it influenced mainstream economics. In this book, Ariel Rubinstein defines models of bounded rationality as those in which elements of the process of choice are explicitly embedded. The book focuses on the challenges of modeling bounded rationality, rather than on substantial economic implications. In the first part of the book, the author considers the modeling of choice. After discussing some psychological findings, he proceeds to the modeling of procedural rationality, knowledge, memory, the choice of what to know, and group decisions.In the second part, he discusses the fundamental difficulties of modeling bounded rationality in games. He begins with the modeling of a game with procedural rational players and then surveys repeated games with complexity considerations. He ends with a discussion of computability constraints in games. The final chapter includes a critique by Herbert Simon of the author's methodology and the author's response. The Zeuthen Lecture Book series is sponsored by the Institute of Economics at the University of Copenhagen.
Author: Sanjit Dhami
Publisher: MIT Press
ISBN: 0262369656
Category : Business & Economics
Languages : en
Pages : 553
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Book Description
Two leaders in the field explore the foundations of bounded rationality and its effects on choices by individuals, firms, and the government. Bounded rationality recognizes that human behavior departs from the perfect rationality assumed by neoclassical economics. In this book, Sanjit Dhami and Cass R. Sunstein explore the foundations of bounded rationality and consider the implications of this approach for public policy and law, in particular for questions about choice, welfare, and freedom. The authors, both recognized as experts in the field, cover a wide range of empirical findings and assess theoretical work that attempts to explain those findings. Their presentation is comprehensive, coherent, and lucid, with even the most technical material explained accessibly. They not only offer observations and commentary on the existing literature but also explore new insights, ideas, and connections. After examining the traditional neoclassical framework, which they refer to as the Bayesian rationality approach (BRA), and its empirical issues, Dhami and Sunstein offer a detailed account of bounded rationality and how it can be incorporated into the social and behavioral sciences. They also discuss a set of models of heuristics-based choice and the philosophical foundations of behavioral economics. Finally, they examine libertarian paternalism and its strategies of “nudges.”
Author: Robert A. Meyers
Publisher: Springer Science & Business Media
ISBN: 1441977007
Category : Business & Economics
Languages : en
Pages : 919
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Book Description
Finance, Econometrics and System Dynamics presents an overview of the concepts and tools for analyzing complex systems in a wide range of fields. The text integrates complexity with deterministic equations and concepts from real world examples, and appeals to a broad audience.
Author: David S. Clark
Publisher: SAGE Publications
ISBN: 1452265542
Category : Social Science
Languages : en
Pages : 1809
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Book Description
"This work will be very valuable for academic and public libraries supporting prelaw, law, social, and cultural studies. Summing Up: Highly recommended. Upper-level undergraduates through professionals/practitioners; general readers." —CHOICE There are two aspects of scholarship about the legal systems of our day that are especially salient—one being for the first time there is a fair amount of genuine research on legal systems, and two, that this research is increasingly global. As soon as you cross a jurisdictional line, even if it separates countries that are very similar, you enter a different legal system. It cannot be assumed that any particular rule, doctrine, or practice is the same in any two jurisdictions, regardless of how close these jurisdictions are, in terms of history and tradition. The Encyclopedia of Law and Society is the largest comprehensive and international treatment of the law and society field. With an Advisory Board of 62 members from 20 countries and six continents, the three volumes of this state-of-the-art resource represent interdisciplinary perspectives on law from sociology, criminology, cultural anthropology, political science, social psychology, and economics. By globalizing the Encyclopedia′s coverage, American and international law and society will be better understood within its historical and comparative context. Key Features: Includes more than 700 biographical entries that are historical, comparative, topical, thematic, and methodological Presents the rich diversity of European, Latin American, Asian, African, and Australasian developments for the first time in one place to reveal the truly holistic, interdisciplinary virtues of law and society Examines how and why legal systems grow and change, how and why they respond (or fail to respond) to their environment, how and why they impact the life of society, and how and why the life of society impacts in turn these legal systems With borders more porous than ever before, this Encyclopedia reflects the paradoxical reality of modern life, including legal life. This valuable resource aims to present research, along with the theories on which it is grounded, fairly and comprehensively and is a must-have for all academic libraries.
Author: Gregor Gall
Publisher: Edward Elgar Publishing
ISBN: 1784715697
Category : Political Science
Languages : en
Pages : 459
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Book Description
Providing a thorough overview of the political nature and dynamics of the world of work, labour and employment, this timely Handbook draws together an interdisciplinary range of top contributors to explore the interdependent relationship between politics and labour, work and employment. The Handbook explores the purpose, roles, rights and powers of employers and management, workers and unions, states and governments in the age of globalised neo-liberalism.
