Recent decades have witnessed developments in decision theory that propose an alternative to the accepted Bayesian view. According to this view, all uncertainty can be quantified by probability measures. This view has been criticized on empirical as well as conceptual grounds. David Schmeidler has offered an alternative way of thinking about decision under uncertainty, which has become popular in recent years. This book provides a review and an introduction to this new decision theory under uncertainty. The first part focuses on theory: axiomatizations, the definition of uncertainty aversion,...
Recent decades have witnessed developments in decision theory that propose an alternative to the accepted Bayesian view. According to this view, all u...
Liberalism is typically misconceived as a philosophy of individualism, which cannot accept that man exists in society and that man's values are shaped by that society. This book attempts to identify the role of community and society in the political and social thought of leading liberal social philosophers of the 19th and 20th centuries including John Stuart Mill, Herbert Spencer and Friedrich A. von Hayek. While differing as to the nature of man and society, each thinker examined holds the basic premise that man is not an isolated creature whose life is 'nasty, brutish and short' but...
Liberalism is typically misconceived as a philosophy of individualism, which cannot accept that man exists in society and that man's values are shaped...
This book seeks to explain long-term economic development and institutional change in terms of the cognitive features of human learning and communication processes. Martens links individual cognitive processes to macroeconomic growth theories, including economies of scale and scope, and to theories of institutional development based on asymmetric information in production processes and economies of scale in enforcement technology. With considerable flair, Bertin Martens has applied the hot new area of psychological and behavioural economics to notions of growth and development and has...
This book seeks to explain long-term economic development and institutional change in terms of the cognitive features of human learning and communicat...
This book aims to make the nature of input-output analysis in economics clearly accessible and, contrary to the opinion of many commentators, shows that this type of analysis can be compatible with the doctrines of neoclassical economics.
This book aims to make the nature of input-output analysis in economics clearly accessible and, contrary to the opinion of many commentators, shows th...
This book constitutes a thorough analysis of the phenomenon of corruption, as seen from the perspective of New Institutional Economics - one of the most influential new schools of thought in the social sciences of the past decade.
This book constitutes a thorough analysis of the phenomenon of corruption, as seen from the perspective of New Institutional Economics - one of the mo...
In this important book, pre-eminent economic sociologist Volker Bornschier analyzes growth and development in the Old and New Worlds - the so-called 'developed' countries. He shows how sociological and political factors have a massive impact on economic change in those countries.
The book is a significant contribution to the burgeoning literature on social capital, trust and democracy and will be of interest to those in the fields of economics, sociology, politics and development studies.
In this important book, pre-eminent economic sociologist Volker Bornschier analyzes growth and development in the Old and New Worlds - the so-calle...
Examining the crucial topic of race relations, this book explores the economic and social environments that play a significant role in determining economic outcomes and why racial disparities persist.
With contributions from a range of international contributors including Edward Wolff and Catherine Weinberger, the book compares how various racial groups fare and are affected in different ways by economic and social institution. Themes covered in the book include:
the economic status of various racial and ethnic groups, including their progress or retrenchment over the...
Examining the crucial topic of race relations, this book explores the economic and social environments that play a significant role in determining ...
An excellent addition to Routledge's strong tradition of publishing exceptional books in heterodox economics, this innovative and groundbreaking volume draws on the work of Schumpeter, Marx and Sraffa, three of the most influential economists of all time. It bases value on a single, inwardly felt scarcity, the scarcity of life, which consumers scramble to experience more of through private possession of the product of socially contributed human time-space, in the form of knowledge embodied in commodities. This coercive urge, which appears outwardly as 'commodity fetishism', sets the...
An excellent addition to Routledge's strong tradition of publishing exceptional books in heterodox economics, this innovative and groundbreaking vo...
The primary aim of the text is to introduce the reader to the relationship between economics and ethics and to the application of economic ethics in the evaluation of the market. The reader will gain insight into:
The ethical and methodological strategy of economics and criticism of the core assumptions that underpin the economic defence of free market operation.
The characteristics of different ethical theories (utilitarianism, duty and rights ethics, justice and virtue ethics) that can be used to evaluate the free market.
How to apply economics in conjunction...
The primary aim of the text is to introduce the reader to the relationship between economics and ethics and to the application of economic ethics i...
Does economic theory, and its many practical applications, rest on concrete foundations? Given the influence and prestige afforded to orthodox economic policy advice, apparently the answer is a resounding "yes." Economists Frank Ackerman and Alejandro Nadal present a fundamental challenge to this received wisdom, demonstrating that neither the abstractions of general equilibrium nor their real-world consequences, stand up to logical scrutiny. Themes critically analyzed in this book include: * Economics' assumptions about consumer behavior * Individual choices and the role of...
Does economic theory, and its many practical applications, rest on concrete foundations? Given the influence and prestige afforded to orthodox economi...
