The Experts below are selected from a list of 297 Experts worldwide ranked by ideXlab platform
Egmont Kakarot-handtke - One of the best experts on this subject based on the ideXlab platform.
-
Debunking Squared
SSRN Electronic Journal, 2020Co-Authors: Egmont Kakarot-handtkeAbstract:Steve Keen has debunked a good part of standard Economics. However, he has left standing the theory of profit. This is unfortunate, because the theory of profit is the pivot of all of Theoretical Economics. This tightly focused paper clarifies the factual relation of profit and income, which should be helpful to put Keen’s alternative to the standard approach on sound foundations.
-
Essentials of Constructive Heterodoxy: Institutions
SSRN Electronic Journal, 2015Co-Authors: Egmont Kakarot-handtkeAbstract:What do economists understand about the economy if they do not understand the profit phenomenon? Next to nothing. Therefore, the very first task in Theoretical Economics is to clarify the difference between profit and wage income and their respective determinants. It was Ricardo who tackled the problem first, but neither Orthodoxy nor Heterodoxy solved it until this day. The need for a paradigm shift is indisputable. The new structural axiomatic approach is more comprehensive as it embraces the consistent interaction of real and nominal variables of the monetary economy and the economic consequences of alternative variants of institutions.
-
Essentials of Constructive Heterodoxy: Profit
SSRN Electronic Journal, 2015Co-Authors: Egmont Kakarot-handtkeAbstract:The goal of Theoretical Economics is to explain how the actual economy works. Since Adam Smith economists have consistently failed to clarify the nature and magnitude of overall profit. No economist, though, would deny that profit is an important phenomenon. Yet, obviously economists are still mired in utter confusion about the most fundamental concept of their discipline. Hence, in the strict sense, there is no valid Economics. From all this follows for a methodologically ambitious Constructive Heterodoxy that the accustomed foundations of Orthodoxy have to be replaced. In technical terms this is what a paradigm shift is all about.
-
Essentials of Constructive Heterodoxy: Money, Credit, Interest
SSRN Electronic Journal, 2015Co-Authors: Egmont Kakarot-handtkeAbstract:The goal of Theoretical Economics is to explain how the monetary economy works. The fatal methodological defect of Orthodoxy is that it is based on behavioral axioms. Yet, no specific behavioral assumption whatever can serve as a starting point for economic analysis. From this follows for Constructive Heterodoxy that the subjective axiomatic foundations have to be replaced. This amounts to a paradigm shift. Nobody can rest content with a pluralism of false theories. Based on a set of objective axioms all economic conceptions have to be reconstructed from scratch. In the following this is done for the theory of money.
-
Essentials of Constructive Heterodoxy: Aggregate Demand
SSRN Electronic Journal, 2015Co-Authors: Egmont Kakarot-handtkeAbstract:Heterodoxy has left not one stone unturned and has unraveled a plethora of errors/mistakes/contradictions of Orthodoxy. The outcome of this prolonged critical and self-critical process is that there is actually no acceptable and accepted Theoretical Economics. The need of a paradigm shift is irrefutable. There is less need of further debunking exercises. For Constructive Heterodoxy follows that the subjective axiomatic foundation of Orthodoxy has to be replaced. All economic conceptions have to be consistently reconstructed. What comes to mind first are phenomena like market, profit, money, employment or aggregate demand. The latter is dealt with in the following.
Segismundo S. Izquierdo - One of the best experts on this subject based on the ideXlab platform.
-
Economía artificial: una valoración crítica // Artificial Economics: A Critical Review
Revista de Métodos Cuantitativos para la Economía y la Empresa, 2016Co-Authors: Segismundo S. Izquierdo, Luis R. Izquierdo, Jose Manuel Sánchez Galán, José Ignacio SantosAbstract:La economia artificial es uno de los metodos o enfoques de investigacion para el estudio de sistemas socioeconomicos complejos con mayor crecimiento durante los ultimos anos. Este articulo presenta una vision critica sobre sus caracteristicas, su potencial y los riesgos relativos al uso de esta metodologia. Para ello, encontramos util relacionar y comparar a la economia artificial con la economia teorica mas tradicional. Desde nuestro analisis, la economia teorica y la economia artificial comparten los mismos objetivos, presentan menos diferencias metodologicas de las que a primera vista pudiera parecer, y sus aproximaciones son sin duda complementarias. || Artificial Economics is one of the fastest growing approaches to analyse complex socio-economic systems. In this paper we present our views on the distinguishing features of Artificial Economics and on its relation with Theoretical Economics — the field that in our opinion lies closest to Artificial Economics. In this context, we discuss various reasons why conducting research on Artificial Economics may be worthwhile, and provide general guidelines on how to go about it. Our view is that Artificial Economics and Theoretical Economics share the same goals, do not differ conceptually as much as it is sometimes perceived, and their approaches are certainly complementary.
-
Artificial Economics: What, Why and How
Social Science Research Network, 2015Co-Authors: Luis R. Izquierdo, Segismundo S. IzquierdoAbstract:In this paper we present our views on the distinguishing features of Artificial Economics and on its relation with Theoretical Economics – the field that in our opinion lies closest to Artificial Economics. In this context, we discuss various reasons why conducting research on Artificial Economics may be worthwhile, and provide general guidelines on how to go about it. Our view is that Artificial Economics and Theoretical Economics share the same goals, do not differ conceptually as much as it is sometimes perceived, and their approaches are certainly complementary.
Luis R. Izquierdo - One of the best experts on this subject based on the ideXlab platform.
-
Economía artificial: una valoración crítica // Artificial Economics: A Critical Review
Revista de Métodos Cuantitativos para la Economía y la Empresa, 2016Co-Authors: Segismundo S. Izquierdo, Luis R. Izquierdo, Jose Manuel Sánchez Galán, José Ignacio SantosAbstract:La economia artificial es uno de los metodos o enfoques de investigacion para el estudio de sistemas socioeconomicos complejos con mayor crecimiento durante los ultimos anos. Este articulo presenta una vision critica sobre sus caracteristicas, su potencial y los riesgos relativos al uso de esta metodologia. Para ello, encontramos util relacionar y comparar a la economia artificial con la economia teorica mas tradicional. Desde nuestro analisis, la economia teorica y la economia artificial comparten los mismos objetivos, presentan menos diferencias metodologicas de las que a primera vista pudiera parecer, y sus aproximaciones son sin duda complementarias. || Artificial Economics is one of the fastest growing approaches to analyse complex socio-economic systems. In this paper we present our views on the distinguishing features of Artificial Economics and on its relation with Theoretical Economics — the field that in our opinion lies closest to Artificial Economics. In this context, we discuss various reasons why conducting research on Artificial Economics may be worthwhile, and provide general guidelines on how to go about it. Our view is that Artificial Economics and Theoretical Economics share the same goals, do not differ conceptually as much as it is sometimes perceived, and their approaches are certainly complementary.
-
Artificial Economics: What, Why and How
Social Science Research Network, 2015Co-Authors: Luis R. Izquierdo, Segismundo S. IzquierdoAbstract:In this paper we present our views on the distinguishing features of Artificial Economics and on its relation with Theoretical Economics – the field that in our opinion lies closest to Artificial Economics. In this context, we discuss various reasons why conducting research on Artificial Economics may be worthwhile, and provide general guidelines on how to go about it. Our view is that Artificial Economics and Theoretical Economics share the same goals, do not differ conceptually as much as it is sometimes perceived, and their approaches are certainly complementary.
Kaushik Basu - One of the best experts on this subject based on the ideXlab platform.
-
Collected Papers in Theoretical Economics: Welfare, Law, and Globalization
OUP Catalogue, 2020Co-Authors: Kaushik BasuAbstract:The book is the third volume of collected papers of Kaushik Basu. The focus is on Theoretical papers on welfare Economics and law, and applications to the world of policymaking, in particular, the design of regulation, in the context of the domestic economy and global matters.
-
Collected Papers in Theoretical Economics: Development, Markets, and Institutions
OUP Catalogue, 2020Co-Authors: Kaushik BasuAbstract:The field of development Economics has witnessed major changes over the last tow or three decades. From being a largely descriptive discipline, it has now become much more rigorous and Theoretically well-founded. Kaushik Basu s work has played a significant role in this transformation of development Economics, and the present book is a collection of his major papers in the field. Theoretical development is a difficult discipline because it entails the use of good economic theory but at the same time requires that the researcher keep a keen eye-an anthropologist s eye-on reality. This collection illustrates this method of research well as it ranges from commenting on contentious subjects, such as the design of policy to combat child labour, through the role of social norms in explaining why certain unwanted economic institutions persist, to how literacy ought to be measured.
-
Collected Papers In Theoretical Economics: Rationality, Games, and Strategic Behaviour
OUP Catalogue, 2020Co-Authors: Kaushik BasuAbstract:The rise of game theory around the middle of the twentieth century has profoundly affected the way economic theory is practiced. The present book is a collection of Kaushik Basu s papers on game theory and, more generally, strategic analysis. It includes papers in both pure and applied theory. In the Theoretical papers the emphasis is more on the philosophical foundations of rational and strategic behaviour than on the mathematical basis of game theory. They deal with questions like: Can social order be achieved entirely through the pursuit of selfish individual aims or are social norms and a commitment to some deontic principles necessary? What role does higher knowledge of interpersonal rationality play in guiding human behaviour? The applied papers range over topics in the organization and modeling of government behaviour and topics in industrial organization theory, such as entry-deterrence, psychology and pricing and collusion and antitrust legislation.
-
Collected Papers in Theoretical Economics: Box Set (Vols I-IV)
2011Co-Authors: Kaushik BasuAbstract:Written over the last three decades, this four volume set of Kaushik Basu's Collected Papers deals with both the philosophical foundations of Economics as well as a wide range of issues of immediate policy relevance. Basu's work plays a significant role in transforming development Economics from being a largely descriptive, long-winded, and unstructured discipline, to a much more rigorous and Theoretically well-founded one. On one hand, the essays cover abstract topics such as the scope of utilitarianism, strategic analysis, game theoretic behaviour, and philosophical underpinnings of individualism. On the other, they also address urgent contemporary concerns such as labour standards, growing inequality in a globalized world, sexual harassment at the workplace, gender empowerment, and political origins of economic crises. Volume I deals with the interaction between development, markets, and institutions. Volume II is a collection of papers on game theory and strategic analysis. Volume III focuses on welfare Economics, law, and the making of global economic policy. Volume IV is a collection of the authors inter-disciplinary essays straddling several of the social sciences and also the philosophical foundations of Economics.
-
collected papers in Theoretical Economics inter disciplinary transgressions political economy moral philosophy and economic sociology
OUP Catalogue, 2010Co-Authors: Kaushik BasuAbstract:The fourth and the final of Basu's collected essays corpus, this volume is a collection of his inter-discliplinary essays straddling several of the social sciences and also the philosophical foundation of Economics. This is a collection of relatively less technical papers and should be of interest to students of not just Economics but also sociology and politics. Most of the essays have a development slant and several make explicit reference to India, making the book especially relevant for scholars and policymakers in India. The essays deal with wide-ranging issues-from philosophical questions, to social custom and culture, to questions that have traditionally been of interest to the sociologist and political scientist (gender, household behaviour, politics of globalization, etc.). The volume includes the author's most cited papers, such as 'Gender and Say' and 'The Growth and Decay of Custom'. An introductory chapter surveys and connects the terrain spanned by these essays. This volume illustrates how Economics can, with careful handling, be taken to concerns beyond its traditional disciplinary boundaries.
Andrew N Kleit - One of the best experts on this subject based on the ideXlab platform.
-
mining rate optimization considering the stockpiling a Theoretical Economics and real option model
Resources Policy, 2016Co-Authors: Kuangyuan Zhang, Andrew N KleitAbstract:In the extraction of metal from a mine, the intermediate ore between the economic and the breakeven cutoff grade is usually stockpiled for future processing once the mine is depleted. This research establishes a Theoretical two-stage economic model to derive the value of this stockpile and how it affects optimal mining rate. By deriving the optimal condition for objective profit function and parameterized analysis, this research finds the stockpiling option can significantly boost a mine's profit. Processing the stockpiled material affects the optimal mining rate and cutoff grade strategy significantly compared to the case that it is not processed. The research also investigates the optimal mining rate's sensitivity to input variables such as commodity price, discounting rate, capital cost, and processing capacity, etc. In addition, the intrinsic advantages of this approach compared to the broadly used Lane's model (1988) are discussed.
