False Feedback In Economics

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False Feedback in Economics

Andrin Spescha
False Feedback in Economics Book PDF

Author : Andrin Spescha
Publisher : Routledge
Page : 232 pages
File Size : 47,8 Mb
Release : 2021-07-21
Category : Business & Economics
ISBN : 9781000417418

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False Feedback in Economics by Andrin Spescha Pdf

This book investigates why economics makes less visible progress over time than scientific fields with a strong practical component, where interactions with physical technologies play a key role. The thesis of the book is that the main impediment to progress in economics is "false feedback", which it defines as the false result of an empirical study, such as empirical evidence produced by a statistical model that violates some of its assumptions. In contrast to scientific fields that work with physical technologies, false feedback is hard to recognize in economics. Economists thus have difficulties knowing where they stand in their inquiries, and false feedback will regularly lead them in the wrong directions. The book searches for the reasons behind the emergence of false feedback. It thereby contributes to a wider discussion in the field of metascience about the practices of researchers when pursuing their daily business. The book thus offers a case study of metascience for the field of empirical economics. The main strength of the book are the numerous smaller insights it provides throughout. The book delves into deep discussions of various theoretical issues, which it illustrates by many applied examples and a wide array of references, especially to philosophy of science. The book puts flesh on complicated and often abstract subjects, particularly when it comes to controversial topics such as p-hacking. The reader gains an understanding of the main challenges present in empirical economic research and also the possible solutions. The main audience of the book are all applied researchers working with data and, in particular, those who have found certain aspects of their research practice problematic.

Complexity Economics

Olivér Kovács
Complexity Economics Book PDF

Author : Olivér Kovács
Publisher : Routledge
Page : 279 pages
File Size : 41,6 Mb
Release : 2022-07-15
Category : Business & Economics
ISBN : 9781000610246

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Complexity Economics by Olivér Kovács Pdf

Our socio–economic innovation ecosystem is riddled with ever-increasing complexity, as we are faced with more frequent and intense shocks, such as COVID-19. Unfortunately, addressing complexity requires a different kind of economic governance. There is increasing pressure on economics to not only going beyond its traditional mainstream boundaries but also to tackle real-world problems, such as fostering structural change, enhancing sustained growth, promoting inclusive development in the era of the digital economy, and boosting green growth, while addressing the divide between the financial sector and the real economy. This book demonstrates how to apply complexity science to economics in an effective and instructive way, in the interest of life-enhancing policies. The book revolves around the non-negligible problem of why economics, to date, seems to be inadequate in guiding economic governance to navigate through real and ever-intensifying complex socio–economic and environmental challenges. With its interdisciplinary approach, the book scans the nuanced nexus between complexity and economics by incorporating, as well as transcending, the state-of-the-art literature. It identifies ways to trigger opportunities for behavioural change in the economic profession with respect to how and what to teach, introducing and developing further complexity economics taking into account the configuration of its main principles and outlining the silhouette of next-generation economic governance. The book deciphers recommendations for economic theory, practice, education and economic governance. It will be of interest to students, scholars, academics, think-tank researchers and economic policy practitioners at the national and/or supranational levels.

Teaching and Research Methods for Islamic Economics and Finance

Mohd Ma'Sum Billah
Teaching and Research Methods for Islamic Economics and Finance Book PDF

Author : Mohd Ma'Sum Billah
Publisher : Taylor & Francis
Page : 411 pages
File Size : 40,5 Mb
Release : 2022-03-10
Category : Business & Economics
ISBN : 9781000540154

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Teaching and Research Methods for Islamic Economics and Finance by Mohd Ma'Sum Billah Pdf

Methods and techniques adopted in teaching, training, learning, research, professional development, or capacity building are generally standardized across most traditional disciplines, particularly within developing countries. This is not the case, however, when it comes to the Islamic disciplines, and, in particular, in relation to the study of Islamic economics and finance, which is influenced by conventional standards and techniques. This is primarily due to the lack of availability of the requisite standards and mechanisms designed within the spirit of Maqsid al-Shari’ah. This book offers a unique resource and a comprehensive overview of the contemporary methods and smart techniques available for teaching, learning, and researching Islamic eco-finance, and it presents solutions to the challenges in implementing them. Further, the book gives deep insight into the most appropriate methodologies that could be employed empirically to explore, model, analyze, and evaluate Islamic finance theories and models, respectively. It also gives recommendations for improving learning, teaching, and research outcomes in Islamic eco-finance. The book also addresses how, in this advanced technological era, smart tools like artificial intelligence, machine learning, big data, Zoom, and the internet of things can be adapted to help equip students, researchers, and scholars with smart skills. The book will enable those studying Islamic economics and finance to grasp the appropriate tools for research and learning. Additionally, the Islamic economics and finance sector is growing at a significant rate and therefore requires the upskilling and capacity building of its human resources; thus, the book will also be highly beneficial for practitioners involved in the industry.

The Economics and Science of Measurement

Albert N. Link
The Economics and Science of Measurement Book PDF

Author : Albert N. Link
Publisher : Taylor & Francis
Page : 93 pages
File Size : 47,9 Mb
Release : 2021-07-08
Category : Business & Economics
ISBN : 9781000442205

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The Economics and Science of Measurement by Albert N. Link Pdf

Metrology is the study of measurement science. Although classical economists have emphasized the importance of measurement per se, the majority of economics-based writings on the topic have taken the form of government reports related to the activities of specific national metrology laboratories. This book is the first systematic study of measurement activity at a national metrology laboratory, and the laboratory studied is the U.S. National Institute of Standards and Technology (NIST) within the U.S. Department of Commerce. The primary objective of the book is to emphasize for academic and policy audiences the economic importance of measurement not only as an area of study but also as a tool for sustaining technological advancement as an element of economic growth. Toward this goal, the book offers an overview of the economic benefits and consequences of measurement standards; an argument for public sector support of measurement standards; a historical perspective of the measurement activities at NIST; an empirical analysis of one particular measurement activity at NIST, namely calibration testing; and a roadmap for future research on the economics of metrology.

The Solow Model of Economic Growth

Paweł Dykas,Tomasz Tokarski,Rafał Wisła
The Solow Model of Economic Growth Book PDF

Author : Paweł Dykas,Tomasz Tokarski,Rafał Wisła
Publisher : Taylor & Francis
Page : 265 pages
File Size : 51,9 Mb
Release : 2022-10-21
Category : Business & Economics
ISBN : 9781000774818

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The Solow Model of Economic Growth by Paweł Dykas,Tomasz Tokarski,Rafał Wisła Pdf

In 1956, Solow proposed a neoclassical growth model in opposition or as an alternative to Keynesian growth models. The Solow model of economic growth provided foundations for models embedded in the new theory of economic growth, known as the theory of endogenous growth, such as the renowned growth models developed by Paul M. Romer and Robert E. Lucas in the 1980s and 90s. The augmentations of the Solow model described in this book, excepting the Phelps golden rules of capital accumulation and the Mankiw-Romer-Weil and Nonneman-Vanhoudt models, were developed by the authors over the last two decades. The book identifies six spheres of interest in modern macroeconomic theory: the impact of fiscal and monetary policy on growth; the effect of different returns to scale on production; the influence of mobility of factors of production among different countries on their development; the effect of population dynamics on growth; the periodicity of investment rates and their influence on growth; and the effect of exogenous shocks in the form of an epidemic. For each of these issues, the authors construct and analyze an appropriate growth model that focuses on the description of the specific macroeconomic problem. This book not only continues the neoclassical tradition of thought in economics focused on quantitative economic change but also, and to a significant extent, discusses alternative approaches to certain questions of economic growth, utilizing conclusions that can be drawn from the Solow model. It is a useful tool in analyzing contemporary issues related to growth.

Financial Market Analysis and Behaviour

Emil Dinga,Camelia Oprean-Stan,Cristina-Roxana Tănăsescu,Vasile Brătian,Gabriela-Mariana Ionescu
Financial Market Analysis and Behaviour Book PDF

Author : Emil Dinga,Camelia Oprean-Stan,Cristina-Roxana Tănăsescu,Vasile Brătian,Gabriela-Mariana Ionescu
Publisher : Taylor & Francis
Page : 299 pages
File Size : 49,5 Mb
Release : 2022-07-06
Category : Business & Economics
ISBN : 9781000609691

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Financial Market Analysis and Behaviour by Emil Dinga,Camelia Oprean-Stan,Cristina-Roxana Tănăsescu,Vasile Brătian,Gabriela-Mariana Ionescu Pdf

This book addresses the functioning of financial markets, in particular the financial market model, and modelling. More specifically, the book provides a model of adaptive preference in the financial market, rather than the model of the adaptive financial market, which is mostly based on Popper's objective propensity for the singular, i.e., unrepeatable, event. As a result, the concept of preference, following Simon's theory of satisficing, is developed in a logical way with the goal of supplying a foundation for a robust theory of adaptive preference in financial market behavior. The book offers new insights into financial market logic, and psychology: 1) advocating for the priority of behavior over information - in opposition to traditional financial market theories; 2) constructing the processes of (co)evolution adaptive preference-financial market using the concept of fetal reaction norms - between financial market and adaptive preference; 3) presenting a new typology of information in the financial market, aimed at proving point (1) above, as well as edifying an explicative mechanism of the evolutionary nature and behavior of the (real) financial market; 4) presenting sufficient, and necessary, principles or assumptions for developing a theory of adaptive preference in the financial market; and 5) proposing a new interpretation of the pair genotype-phenotype in the financial market model. The book's distinguishing feature is its research method, which is mainly logically rather than historically or empirically based. As a result, the book is targeted at generating debate about the best and most scientifically beneficial method of approaching, analyzing, and modelling financial markets.

The Art and Science of Econometrics

Ping Zong
The Art and Science of Econometrics Book PDF

Author : Ping Zong
Publisher : Taylor & Francis
Page : 249 pages
File Size : 41,7 Mb
Release : 2022-05-02
Category : Business & Economics
ISBN : 9781000580228

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The Art and Science of Econometrics by Ping Zong Pdf

Today econometrics has been widely applied in the empirical study of economics. As an empirical science, econometrics uses rigorous mathematical and statistical methods for economic problems. Understanding the methodologies of both econometrics and statistics is a crucial departure for econometrics. The primary focus of this book is to provide an understanding of statistical properties behind econometric methods. Following the introduction in Chapter 1, Chapter 2 provides the methodological review of both econometrics and statistics in different periods since the 1930s. Chapters 3 and 4 explain the underlying theoretical methodologies for estimated equations in the simple regression and multiple regression models and discuss the debates about p-values in particular. This part of the book offers the reader a richer understanding of the methods of statistics behind the methodology of econometrics. Chapters 5–9 of the book are focused on the discussion of regression models using time series data, traditional causal econometric models, and the latest statistical techniques. By concentrating on dynamic structural linear models like state-space models and the Bayesian approach, the book alludes to the fact that this methodological study is not only a science but also an art. This work serves as a handy reference book for anyone interested in econometrics, particularly in relevance to students and academic and business researchers in all quantitative analysis fields.

Handbook of Research Methods and Applications in Experimental Economics

Arthur Schram,Aljaž Ule
Handbook of Research Methods and Applications in Experimental Economics Book PDF

Author : Arthur Schram,Aljaž Ule
Publisher : Edward Elgar Publishing
Page : 448 pages
File Size : 52,9 Mb
Release : 2019
Category : Business & Economics
ISBN : 9781788110563

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Handbook of Research Methods and Applications in Experimental Economics by Arthur Schram,Aljaž Ule Pdf

This volume offers a comprehensive review of experimental methods in economics. Its 21 chapters cover theoretical and practical issues such as incentives, theory and policy development, data analysis, recruitment, software and laboratory organization. The Handbook includes separate parts on procedures, field experiments and neuroeconomics, and provides the first methodological overview of replication studies and a novel set-valued equilibrium concept. As a whole, the combination of basic methods and current developments will aid both beginners and advanced experimental economists.

Economics Austrian School

Fouad Sabry
Economics Austrian School Book PDF

Author : Fouad Sabry
Publisher : One Billion Knowledgeable
Page : 225 pages
File Size : 54,6 Mb
Release : 2023-12-24
Category : Business & Economics
ISBN : PKEY:6610000498864

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Economics Austrian School by Fouad Sabry Pdf

What is Economics Austrian School It is a heterodox school of economic theory that supports rigorous adherence to methodological individualism, which is the belief that social phenomena are essentially the product of the motivations and actions of individuals and their own self-interest. The Austrian School is a school of economic thought that originated in Austria. Individuals who subscribe to the Austrian school of economics believe that economic theory ought to be drawn only from fundamental principles of human behavior. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Austrian school of economics Chapter 2: Carl Menger Chapter 3: Murray Rothbard Chapter 4: Eugen von Bhm-Bawerk Chapter 5: Methodenstreit Chapter 6: Friedrich von Wieser Chapter 7: Israel Kirzner Chapter 8: Ludwig Lachmann Chapter 9: Mises Institute Chapter 10: Richard Cantillon Chapter 11: Knut Wicksell Chapter 12: Fritz Machlup Chapter 13: Austrian business cycle theory Chapter 14: The Theory of Money and Credit Chapter 15: Ludwig von Mises Chapter 16: Joseph T. Salerno Chapter 17: Center for Libertarian Studies Chapter 18: Frank Fetter Chapter 19: Social psychology Chapter 20: Richard Ritter von Strigl Chapter 21: Jrg Guido Hlsmann (II) Answering the public top questions about economics austrian school. (III) Real world examples for the usage of economics austrian school in many fields. (IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of economics austrian school. (eBook only). Who will benefit Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of economics austrian school.

Choice, Behavioral Economics, and Addiction

Rudolph Eugene Vuchinich,Nick Heather
Choice Behavioral Economics and Addiction Book PDF

Author : Rudolph Eugene Vuchinich,Nick Heather
Publisher : Elsevier
Page : 468 pages
File Size : 41,7 Mb
Release : 2003-11-13
Category : Computers
ISBN : 0080440568

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Choice, Behavioral Economics, and Addiction by Rudolph Eugene Vuchinich,Nick Heather Pdf

Choice, Behavioural Economics and Addiction is about the theory, data, and applied implications of choice-based models of substance use and addiction. The distinction between substance use and addiction is important, because many individuals use substances but are not also addicted to them. The behavioural economic perspective has made contributions to the analysis of both of these phenomena and, while the major focus of the book is on theories of addiction, it is necessary also to consider the behavioural economic account of substance use in order to place the theories in their proper context and provide full coverage of the contribution of behavioural economics to this field of study. The book discusses the four major theories of addiction that have been developed in the area of economic science/behavioural economics. They are: . hyperbolic discounting . melioration . relative addiction . rational addiction The main objective of the book is to popularise these ideas among addiction researchers, academics and practitioners. The specific aims are to articulate the shared and distinctive elements of these four theories, to present and discuss the latest empirical work on substance abuse and addiction that is being conducted in this area, and to articulate a range of applied implications of this body of work for clinical, public health and public policy initiatives. The book is based on an invitation-only conference entitled, Choice, Behavioural Economics and Addiction: Theory, Evidence and Applications held at the University of Alabama at Birmingham, March 30 - April 1, 2001. The conference was attended by prominent scientists and scholars, representing a range of disciplines concerned with theories of addiction and their consequences for policy and practice. The papers in the book are based on the papers given at the above conference, together with commentaries by distinguished experts and, in many cases, replies to these comments by the presenters.

A Guide to What's Wrong with Economics

Edward Fullbrook
A Guide to What s Wrong with Economics Book PDF

Author : Edward Fullbrook
Publisher : Anthem Press
Page : 332 pages
File Size : 43,7 Mb
Release : 2004
Category : Business & Economics
ISBN : 9780857287373

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A Guide to What's Wrong with Economics by Edward Fullbrook Pdf

During a time of accelerating momentum for radical change in the study of economics, 'A Guide to What's Wrong with Economics' comprehensively re-examines the shortcomings of neoclassical economics and considers a number of alternative formulations.

IBSS: Economics: 2002 Vol.51

Compiled by the British Library of Political and Economic Science
IBSS Economics 2002 Vol 51 Book PDF

Author : Compiled by the British Library of Political and Economic Science
Publisher : Routledge
Page : 676 pages
File Size : 53,8 Mb
Release : 2013-05-13
Category : Business & Economics
ISBN : 9781134340026

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IBSS: Economics: 2002 Vol.51 by Compiled by the British Library of Political and Economic Science Pdf

First published in 1952, the International Bibliography of the Social Sciences (anthropology, economics, political science, and sociology) is well established as a major bibliographic reference for students, researchers and librarians in the social sciences worldwide. Key features * Authority: Rigorous standards are applied to make the IBSS the most authoritative selective bibliography ever produced. Articles and books are selected on merit by some of the world's most expert librarians and academics. *Breadth: today the IBSS covers over 2000 journals - more than any other comparable resource. The latest monograph publications are also included. *International Coverage: the IBSS reviews scholarship published in over 30 languages, including publications from Eastern Europe and the developing world. *User friendly organization: all non-English titles are word sections. Extensive author, subject and place name indexes are provided in both English and French. Place your standing order now for the 2003 volumes of the the IBSS Anthropology: 2002 Vol.48 December 2003: 234x156: Hb: 0-415-32634-6: £195.00 Economics: 2002 Vol.51 December 2003: 234x156: Hb: 0-415-32635-4: £195.00 Political Science: 2002 Vol.51 December 2003: 234x156: Hb: 0-415-32636-2: £195.00 Sociology: 2002 Vol.52 December 2003: 234x156: Hb: 0-415-32637-0: £195.00

Social Psychology and Economics

David De Cremer,Marcel Zeelenberg,J. Keith Murnighan
Social Psychology and Economics Book PDF

Author : David De Cremer,Marcel Zeelenberg,J. Keith Murnighan
Publisher : Psychology Press
Page : 348 pages
File Size : 40,5 Mb
Release : 2013-09-05
Category : Business & Economics
ISBN : 9781135811075

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Social Psychology and Economics by David De Cremer,Marcel Zeelenberg,J. Keith Murnighan Pdf

This book combines chapters written by leading social psychologists and economists, illuminating the developing trends in explaining and understanding economic behavior in a social world. It provides insights from both fields, communicated by eloquent scholars, and demonstrates through recent research and theory how economic behaviors may be more effectively examined using a combination of both fields. Social Psychology and Economics comes at a particularly fitting time, as a psychological approach to economics has begun to flourish in recent years, and papers exploring the intersection of these two disciplines have appeared in peer-reviewed journals, opening a dynamic dialogue between previously separated fields. This volume, the first in the Society for Judgment and Decision Making Series since acquired by Psychology Press, includes chapters by economists and psychologists. It addresses a variety of economic phenomena within a social context, such as scarcity and materialism, emphasizing the importance of integrating social psychology and economics. Social Psychology and Economics is arranged in seven parts that discuss: an introduction to the topic; preferences, utility, and choice; emotions; reciprocity, cooperation, and fairness; social distance; challenges to social psychology and economics; and collaborative reflections and projections. The market for this book is students, researchers, and professionals in the disciplines of economics, psychology, business, and behavioral decision making. Graduate students and upper-level undergraduate students will consider it a useful supplemental text.

A Modern Guide to Philosophy of Economics

Kincaid, Harold,Ross, Don
A Modern Guide to Philosophy of Economics Book PDF

Author : Kincaid, Harold,Ross, Don
Publisher : Edward Elgar Publishing
Page : 384 pages
File Size : 47,8 Mb
Release : 2021-08-27
Category : Business & Economics
ISBN : 9781788974462

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A Modern Guide to Philosophy of Economics by Kincaid, Harold,Ross, Don Pdf

This insightful Modern Guide offers a broad coverage of questions and controversies encountered by contemporary economists. A refreshing approach to philosophy of economics, chapters comprise a range of methodological and theoretical perspectives, from lab and field experiments to macroeconomics and applied policy work, written using a familiar, accessible language for economists.

Where Economics Went Wrong

David Colander,Craig Freedman
Where Economics Went Wrong Book PDF

Author : David Colander,Craig Freedman
Publisher : Princeton University Press
Page : 284 pages
File Size : 55,6 Mb
Release : 2018-11-27
Category : Business & Economics
ISBN : 9780691179209

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Where Economics Went Wrong by David Colander,Craig Freedman Pdf

How modern economics abandoned classical liberalism and lost its way Milton Friedman once predicted that advances in scientific economics would resolve debates about whether raising the minimum wage is good policy. Decades later, Friedman’s prediction has not come true. In Where Economics Went Wrong, David Colander and Craig Freedman argue that it never will. Why? Because economic policy, when done correctly, is an art and a craft. It is not, and cannot be, a science. The authors explain why classical liberal economists understood this essential difference, why modern economists abandoned it, and why now is the time for the profession to return to its classical liberal roots. Carefully distinguishing policy from science and theory, classical liberal economists emphasized values and context, treating economic policy analysis as a moral science where a dialogue of sensibilities and judgments allowed for the same scientific basis to arrive at a variety of policy recommendations. Using the University of Chicago—one of the last bastions of classical liberal economics—as a case study, Colander and Freedman examine how both the MIT and Chicago variants of modern economics eschewed classical liberalism in their attempt to make economic policy analysis a science. By examining the way in which the discipline managed to lose its bearings, the authors delve into such issues as the development of welfare economics in relation to economic science, alternative voices within the Chicago School, and exactly how Friedman got it wrong. Contending that the division between science and prescription needs to be restored, Where Economics Went Wrong makes the case for a more nuanced and self-aware policy analysis by economists.