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Journal Article
History of Political Economy (2021) 53 (2): 367–369.
Published: 01 April 2021
...Ivan Moscati Risk, Choice, and Uncertainty: Three Centuries of Economic Decision-Making . By Szpiro George . New York : Columbia University Press , 2020 . xii; 250 pp. $32.00 . Copyright 2021 by Duke University Press 2021 Book Reviews 367 Risk, Choice, and Uncertainty: Three...
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Published: 01 June 2024
Figure 4. Superposition of deprivation costs and decision-making costs (Ostrom and Ostrom 1977 ). More
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Published: 01 June 2024
Figure 6. Variables that influence a resource appropriator's decision to push for changes in the rules governing use of the resource. More
Journal Article
History of Political Economy (2016) 48 (suppl_1): 226–238.
Published: 01 December 2016
... . Baltimore, Md. : Johns Hopkins University Press . Psychology Fails to Trump the Multiyear, Structural Development Plan: Albert Hirschman’s Largely Frustrated Efforts to Place the “Ability to Make and Carry Out Development Decisions” at the Center of the Development Economics of the late...
Journal Article
History of Political Economy (2017) 49 (Supplement): 158–186.
Published: 01 December 2017
... from simply being a passive “tool for decision making,” structured bureaucratic procedures, and formatted the basic concepts of policymaking. In contrast to stories of big theoretical breaks and shifts in economic ideas in the 1970s, the paper finally asks for the continuities of so-called applied...
Journal Article
History of Political Economy (2014) 46 (suppl_1): 295–314.
Published: 01 December 2014
... as a whole. It is concluded that there were significant affinities in theoretical interest running between MIT economics and other fields at MIT, which revolved around the emergence of macro-scale phenomena out of the dynamic interplay of local decision-making processes. However, the methodology through...
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Published: 01 June 2023
Figure 2. Different decisions and their dependence on alertness. (Source: Elaborated by the author, based on Kirzner [2005] 2018.) More
Journal Article
History of Political Economy (2015) 47 (3): 481–510.
Published: 01 September 2015
.... The similarity he points to, however, is somewhat limited: while some of his articles from the 1930s stressed the subjectivity of producers' decisions, his later criticisms of standard policies, as well as the method he suggests for the design of policy, are based on the idea that costs are objective...
Journal Article
History of Political Economy (2018) 50 (S1): 303–322.
Published: 01 December 2018
... that mental models—categories, concepts, narratives, and worldviews—profoundly influence our decision making by unconsciously shaping what we perceive and the “toolbox” of strategies we draw on to respond. Many researchers have connected this idea to economic development, yet they rarely identify their work...
Journal Article
History of Political Economy (2013) 45 (1): 1–38.
Published: 01 March 2013
...Antonella Rancan This article reconstructs Franco Modigliani’s and Herbert Simon’s close collaboration over the 1950s on implementation of a decision theory under uncertainty that partly contributed to the genesis of behavioral economics and rational expectations theory. Their collaboration reveals...
Journal Article
History of Political Economy (2013) 45 (3): 475–504.
Published: 01 September 2013
...Gilbert L. Skillman A long-standing puzzle in the history of Marxian economic thought concerns Marx’s decision to omit the draft chapter titled “Results of the Immediate Process of Production” from the published version of volume 1 of Capital . A number of authors have explored this puzzle without...
Journal Article
History of Political Economy (2020) 52 (S1): 85–111.
Published: 01 December 2020
... Terman. We show that engineers drew upon economic theories of decision and allocation to improve practical industrial management decisions. Reciprocally, economists found in engineering the tools that they needed to rethink production and growth theory (including linear programming, optimal control...
Journal Article
History of Political Economy (2020) 52 (S1): 245–269.
Published: 01 December 2020
... Plan. Prices acted as administrative instructions, passing on costs to subscribers and shaping their present and future behavior according to the planned development of the system. This was a technocratic intervention: the engineer-economists made crucial and lasting decisions on land-use planning...
Journal Article
History of Political Economy (2016) 48 (1): 35–64.
Published: 01 March 2016
... be criticized for these contradictions because they intended to explain the behavior of their isolated individuals, whereas modern neoclassicals only seek to describe the decisions of Robinson Crusoe in terms of modern choice theory. This contrast mirrors the change in the way utility theory is conceived...
Journal Article
History of Political Economy (2015) 47 (4): 605–629.
Published: 01 December 2015
...Norikazu Takami This essay examines how cost-push inflation theories, which highlight autonomous increases in wages and other production costs as a cause of inflation, played a decisive role in the policy debate over the interpretation of the price movements of the second half of the 1950s. In late...
Journal Article
History of Political Economy (2019) 51 (1): 101–113.
Published: 01 February 2019
...Tiago Mata; Harro Maas This essay reflects on the life and career of Craufurd Goodwin as told in his own words. Topics discussed include his decision to become a historian of economics, his descriptions of his research interests and what drew him to them, and his views on the discipline...
Journal Article
History of Political Economy 557–578.
Published: 20 March 2019
...Boris Salazar; Daniel Otero This article assesses the impact of Christopher Sims’s VARs upon the evolution of contemporary macroeconometrics within the contentious context of the new classical revolution. We argue that the decision of using VARs was not an all-or-nothing affair, but the outcome...
Journal Article
History of Political Economy (2019) 51 (3): 493–513.
Published: 01 June 2019
...Hsiang-Ke Chao Empirical tests in economics may not decisively confirm or disconfirm a theory. Three cases of studies of consumption function from the 1930s to the early 1970s discussed in this article show that we can interpret economists’ practices as inferences to derive the best model from...
Journal Article
History of Political Economy (2019) 51 (3): 557–578.
Published: 01 June 2019
...Boris Salazar; Daniel Otero This article assesses the impact of Christopher Sims’s VARs upon the evolution of contemporary macroeconometrics within the contentious context of the new classical revolution. We argue that the decision of using VARs was not an all-or-nothing affair, but the outcome...
Journal Article
History of Political Economy (2016) 48 (2): 265–306.
Published: 01 June 2016
... discounting utilities of future generations, to which Frank Ramsey subscribed, postwar neoclassical growth economists (of the “Ramsey-Cass-Koopmans model”) applied the discount factor either to the individual's or the social planner's decision making as a technical requirement of dynamic general equilibrium...