Microfoundations

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Microfoundations Reconsidered

Pedro Garcia Duarte,Gilberto Tadeu Lima
Microfoundations Reconsidered Book PDF

Author : Pedro Garcia Duarte,Gilberto Tadeu Lima
Publisher : Edward Elgar Publishing
Page : 257 pages
File Size : 45,5 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9781781004104

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Microfoundations Reconsidered by Pedro Garcia Duarte,Gilberto Tadeu Lima Pdf

Most macroeconomists agree that we live in the age of microfoundations. The recent worldwide financial crisis may have emboldened critics of this microfoundational orthodoxy, but it remains the dominant view that macroeconomic models must go beyond supply and demand functions to the level of individual decision-making, taking into account the general dynamic environment where agents live. Microfoundations Reconsidered seeks to reassess how the relationship of micro and macroeconomics evolved over time. The highly regarded contributors to the book argue that the standard narrative of microfoundations is likely to be unreliable. They therefore re-examine the history of the relationship of microeconomics and macroeconomics, starting from their emergence as self-consciously distinct fields within economics in the early 1930s. They seek to go beyond the conventional history that is often told and written by practicing economists. From different perspectives they challenge the association of microfoundations with Robert Lucas and rational expectations and offer both a more complete and a deeper reading of the relationship between micro and macroeconomics. Microfoundations Reconsidered is a valuable addition to the macroeconomic research literature. It is ideally suited to students, scholars, researchers, and practitioners with an interest in macro and microeconomics and the history of economics.

Microfoundations of Economic Growth

Gunnar Eliasson,International Schumpeter Society. Meeting
Microfoundations of Economic Growth Book PDF

Author : Gunnar Eliasson,International Schumpeter Society. Meeting
Publisher : Unknown
Page : 464 pages
File Size : 44,8 Mb
Release : 1998
Category : Biography & Autobiography
ISBN : UOM:39015043122418

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Microfoundations of Economic Growth by Gunnar Eliasson,International Schumpeter Society. Meeting Pdf

Contributors to this volume seek further understanding of the microfoundations of economic growth. The book focuses on three subjects that interested the great Austrian and Harvard economist, Joseph A. Schumpeter--innovation, technological change, and economic growth. These papers were presented at the 1996 meeting of the International Schumpeter Society.

The Microfoundations Delusion

John Edward King
The Microfoundations Delusion Book PDF

Author : John Edward King
Publisher : Edward Elgar Publishing
Page : 301 pages
File Size : 43,8 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9781781009123

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The Microfoundations Delusion by John Edward King Pdf

ïThis excellent book documents the creation of what has become the first commandment of orthodox macroeconomics: that microeconomic theory provides its foundation because this is the most secure form of economic knowledge. By contrast, John King shows conclusively that microeconomics cannot play such a role when assessed by the criteria of logic, or of science, or of economics itself. Indeed, he goes further and demonstrates that the microfoundations dogma detracts from knowledge about how economies actually operate, and instead generates patently false conclusions. Moreover, the dogma is shown to have blinded orthodox economists from even seeing the possibility of typical macroeconomic crises, and has disarmed them in formulating policies that would eliminate actual crises. The book therefore deals with a topic at the very heart of the present debacle in the world economy.Í _ Michael Howard, University of Waterloo, Canada ïA generation ago Dudley Dillard wrote a famous article on the ñbarter illusion in classical and neoclassical economicsî. Now John King has gone a step further and written about the microfoundations delusion. The illusion has been with us for a very long time, the delusion is of more recent vintage. Together they have blocked a basic understanding of macroeconomic and monetary phenomena at a time when they are most urgently needed. This is a book that had to be written, and we are fortunate that it is John King who has written it. Essential reading for our times.Í _ John Smithin, York University, Canada In this challenging book, John King makes a sustained and comprehensive attack on the dogma that macroeconomic theory must have ïrigorous microfoundationsÍ. He draws on both the philosophy of science and the history of economic thought to demonstrate the dangers of foundational metaphors and the defects of micro-reduction as a methodological principle. Strong criticism of the microfoundations dogma is documented in great detail, from some mainstream and many heterodox economists and also from economic methodologists, social theorists and evolutionary biologists. The author argues for the relative autonomy of macroeconomics as a distinct ïspecial scienceÍ, cooperating with but most definitely not reducible to microeconomics. The Microfoundations Delusion will prove a stimulating and thought-provoking read for scholars, students and researchers in the fields of economics, heterodox economics and history of economic thought.

Microfoundations

Maarten Janssen
Microfoundations Book PDF

Author : Maarten Janssen
Publisher : Routledge
Page : 209 pages
File Size : 49,5 Mb
Release : 2005-07-26
Category : Business & Economics
ISBN : 9781134884131

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Microfoundations by Maarten Janssen Pdf

All economists are familiar with the division of the subject into microeconomics and macroeconomics. However, few economists are able to give an accurate account of what distinguishes micro and macro. The increasing interest in the `microfoundations of macroeconomics' has typically attracted those who feel that economics is about the rational behaviour of individuals and who regard macro propositions as a consequence of the intentions of individuals. As a result, `microfoundations' have come to be synonymous with theories of individual behaviour. However, Maarten Janssen argues that it is microeconomics' concern with the functioning of markets that underlies theories of microfoundations. This claim is substantiated by an analysis of the aggregation problem, of the foundations of equilibrium theories, of the rational expectations hypothesis, and of a model from the New Keynesian literature.

Microfoundations

Maarten Janssen
Microfoundations Book PDF

Author : Maarten Janssen
Publisher : Routledge
Page : 208 pages
File Size : 40,6 Mb
Release : 2005-07-26
Category : Business & Economics
ISBN : 9781134884148

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Microfoundations by Maarten Janssen Pdf

All economists are familiar with the division of the subject into microeconomics and macroeconomics. However, few economists are able to give an accurate account of what distinguishes micro and macro. The increasing interest in the `microfoundations of macroeconomics' has typically attracted those who feel that economics is about the rational behaviour of individuals and who regard macro propositions as a consequence of the intentions of individuals. As a result, `microfoundations' have come to be synonymous with theories of individual behaviour. However, Maarten Janssen argues that it is microeconomics' concern with the functioning of markets that underlies theories of microfoundations. This claim is substantiated by an analysis of the aggregation problem, of the foundations of equilibrium theories, of the rational expectations hypothesis, and of a model from the New Keynesian literature.

Microfoundations of Institutions

Patrick Haack,Jost Sieweke,Lauri Wessel
Microfoundations of Institutions Book PDF

Author : Patrick Haack,Jost Sieweke,Lauri Wessel
Publisher : Emerald Group Publishing
Page : 232 pages
File Size : 50,7 Mb
Release : 2019-11-25
Category : Self-Help
ISBN : 9781787691254

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Microfoundations of Institutions by Patrick Haack,Jost Sieweke,Lauri Wessel Pdf

The notion of microfoundations has received growing interest in neo-institutional theory along with an increasing interest in microfoundational research in disciplines such as strategic management and organizational economics.

Microfoundations, Method, and Causation

Daniel Little
Microfoundations Method and Causation Book PDF

Author : Daniel Little
Publisher : Transaction Publishers
Page : 298 pages
File Size : 41,8 Mb
Release : 2024-07-01
Category : Philosophy
ISBN : 1412828597

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Microfoundations, Method, and Causation by Daniel Little Pdf

In Microfoundations, Method, and Causation, Daniel Little combines a purely philosophical perspective on social science, with the theoretical and empirical practice of working scientists. Part 1 focuses on the theory of popular politics constructed within the context of analytical Marxism. In part 2, Little asks if rational choice theory provides an adequate basis for explaining patterns of social, political, and economic behavior in traditional China. The essays in part 3 reveal the philosophy of social science as understood by philosophers. Here, Little probes issues of objectivity, empiricism, and generalizations, and makes the case that social generalizations are not akin to laws of nature.

Economic Microfoundations of Strategic Management

Kirsten Foss,Nicolai J. Foss
Economic Microfoundations of Strategic Management Book PDF

Author : Kirsten Foss,Nicolai J. Foss
Publisher : Springer Nature
Page : 292 pages
File Size : 54,7 Mb
Release : 2022-10-18
Category : Business & Economics
ISBN : 9783031129100

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Economic Microfoundations of Strategic Management by Kirsten Foss,Nicolai J. Foss Pdf

This book develops a property rights approach to firm strategy and demonstrates how it helps address key challenges in strategic management research. It shows that the property rights approach holds important implications both for entrepreneurship and organizational learning theory. Property rights have direct implications for strategic management, as control over assets has an immediate link to the creation and appropriation of economic value. For a firm to execute a competitive strategy, it must hold rights to appropriate resources. This book will appeal to scholars working in the fields of strategic management, organizational theory and resource allocation. It is an invaluable summary of two decades of groundbreaking research.

Micro-Macro Links and Microfoundations in Sociology RPD

Vincent Buskens,Werner Raub,Marcel Van Assen
Micro Macro Links and Microfoundations in Sociology RPD Book PDF

Author : Vincent Buskens,Werner Raub,Marcel Van Assen
Publisher : Routledge
Page : 247 pages
File Size : 53,8 Mb
Release : 2014-07-16
Category : Social Science
ISBN : 9781317977247

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Micro-Macro Links and Microfoundations in Sociology RPD by Vincent Buskens,Werner Raub,Marcel Van Assen Pdf

Micro-Macro Links and Microfoundations in Sociology focuses on two main issues in sociology. Firstly, how macro-conditions can explain macro-outcomes mediated by actor behaviour at the micro-level (micro-macro links). Secondly, how alternative micro-models affect macro-outcomes (microfoundations). The contributions reflect key features of micro-macro modelling in sociology as well as recent progress in this field. The chapters address core features of explanations of social phenomena using micro-macro models, the problem of cooperation, heterogeneity of actors, structural balance, opinion formation, segregation, and problems of micro-macro models that are based on rational choice assumptions. Moreover, the contributions show how different research methods can be applied fruitfully, such as laboratory experiments, equilibrium analysis, and agent-based modelling. As a result, the book can be a guide for graduate students who want to develop their skills in building micro-macro models. In addition, the book provides specialists of the different substantive research areas with up-to-date new developments in their research area. This book was originally published as a special issue of Journal of Mathematical Sociology.

The Microfoundations of Diaspora Politics

Alexandra Délano Alonso,Harris Mylonas
The Microfoundations of Diaspora Politics Book PDF

Author : Alexandra Délano Alonso,Harris Mylonas
Publisher : Taylor & Francis
Page : 233 pages
File Size : 41,9 Mb
Release : 2021-09-21
Category : Social Science
ISBN : 9781000454963

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The Microfoundations of Diaspora Politics by Alexandra Délano Alonso,Harris Mylonas Pdf

The Microfoundations of Diaspora Politics examines the various actors within and beyond the state that participate in the design and implementation of diaspora policies, as well as the mechanisms through which diasporas are constructed by governments, political parties, diaspora entrepreneurs, or international organisations. Extant theories are often hard-pressed to capture the empirical variation and often end up identifying ‘exceptions’. The multidisciplinary group of contributors in this book theorise these ‘exceptions’ through three interrelated conceptual moves: first, by focusing on understudied aspects of the relationships between states as well as organised non-state actors and their citizens or co-ethnics abroad (or at home - in cases of return migration). Second, by examining dyads of ‘origin’ states and specific diasporic communities differentiated by time of emigration, place of residence, socio-economic status, migratory status, generation, or skills. Third, by considering migration in its multiple spatial and temporal phases (emigration, immigration, transit, return) and how they intersect to constitute diasporic identities and policies. These conceptual moves facilitate comparative research and help scholars identify the mechanisms connecting structural variables with specific policies by states (and other actors) as well as responses by the relevant diasporic communities. This book was originally published as a special issue of the Journal of Ethnic and Migration Studies.

Microfoundations of Evolutionary Economics

Yoshinori Shiozawa,Masashi Morioka,Kazuhisa Taniguchi
Microfoundations of Evolutionary Economics Book PDF

Author : Yoshinori Shiozawa,Masashi Morioka,Kazuhisa Taniguchi
Publisher : Springer
Page : 346 pages
File Size : 44,9 Mb
Release : 2019-06-27
Category : Business & Economics
ISBN : 9784431552673

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Microfoundations of Evolutionary Economics by Yoshinori Shiozawa,Masashi Morioka,Kazuhisa Taniguchi Pdf

This book provides for the first time the microfoundations of evolutionary economics, enabling the reader to grasp a new framework for economic analysis that is compatible with evolutionary processes. Any independent approach to economics must include a value theory (or price theory) and price and quantity adjustment processes. Evolutionary economics has rightly and successfully concentrated its efforts on explaining evolutionary processes in technology and institutions. However, it does not have its own value theory and is not capable of explaining the workings of everyday economics processes, in which any evolutionary process would take place. Our point of departure is the addition of myopic agents with severely limited rational and forecasting capacities (in stark contrast to mainstream economics). We show how myopic agents, in a complex world, can produce a stable price system and demonstrate how they can adjust their production to changing demand flows. Agents behave without any knowledge of the overall process, and they generate a stable economy as large as the global network of exchanges. This is the true “miracle” of the market mechanism. In contrast to mainstream general equilibrium theory, this miracle can be explained without the need for an auctioneer or infinitely rational agents. Thanks to this book, evolutionary economics can now claim to be an independent approach to economics that can completely replace mainstream neoclassical economics.

Microfoundations

E. Roy Weintraub
Microfoundations Book PDF

Author : E. Roy Weintraub
Publisher : Cambridge University Press
Page : 188 pages
File Size : 55,7 Mb
Release : 1979-02-28
Category : Business & Economics
ISBN : 0521294452

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Microfoundations by E. Roy Weintraub Pdf

The first full-length survey of current work which examines the compatibility of microeconomics and macroeconomics.

Micro-foundations for Innovation Policy

B. Nooteboom,Erik Stam
Micro foundations for Innovation Policy Book PDF

Author : B. Nooteboom,Erik Stam
Publisher : Amsterdam University Press
Page : 369 pages
File Size : 45,8 Mb
Release : 2008
Category : Political Science
ISBN : 9789053565827

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Micro-foundations for Innovation Policy by B. Nooteboom,Erik Stam Pdf

In economics, business, and government policy, innovation policy requires the creation of new approaches based on insight in what happens in innovation processes, on the micro level of people, firms and interaction between them. In innovation policy it should also be recognized that innovation entails a whole range of activities beyond R&D, such as entrepreneurship, design, commercialization, organization, collaboration and the diffusion of knowledge and innovations . This edited volume explores the roles of individuals and organizations involved in the creation and application of innovations. Covering topics as diverse as the macro-economic importance of innovation, theories of knowledge and learning, entrepreneurship, education and research, organizational innovation, networks and regional innovation systems, Micro-Foundations for Innovation Policy provides critical insights into the development of innovation policy.

The Microfoundations of Diaspora Politics

Alexandra Délano Alonso,Harris Mylonas
The Microfoundations of Diaspora Politics Book PDF

Author : Alexandra Délano Alonso,Harris Mylonas
Publisher : Routledge
Page : 247 pages
File Size : 44,9 Mb
Release : 2021-09-21
Category : Social Science
ISBN : 9781000454987

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The Microfoundations of Diaspora Politics by Alexandra Délano Alonso,Harris Mylonas Pdf

The Microfoundations of Diaspora Politics examines the various actors within and beyond the state that participate in the design and implementation of diaspora policies, as well as the mechanisms through which diasporas are constructed by governments, political parties, diaspora entrepreneurs, or international organisations. Extant theories are often hard-pressed to capture the empirical variation and often end up identifying ‘exceptions’. The multidisciplinary group of contributors in this book theorise these ‘exceptions’ through three interrelated conceptual moves: first, by focusing on understudied aspects of the relationships between states as well as organised non-state actors and their citizens or co-ethnics abroad (or at home - in cases of return migration). Second, by examining dyads of ‘origin’ states and specific diasporic communities differentiated by time of emigration, place of residence, socio-economic status, migratory status, generation, or skills. Third, by considering migration in its multiple spatial and temporal phases (emigration, immigration, transit, return) and how they intersect to constitute diasporic identities and policies. These conceptual moves facilitate comparative research and help scholars identify the mechanisms connecting structural variables with specific policies by states (and other actors) as well as responses by the relevant diasporic communities. This book was originally published as a special issue of the Journal of Ethnic and Migration Studies.

Microfoundations and Macroeconomics

Steven Horwitz
Microfoundations and Macroeconomics Book PDF

Author : Steven Horwitz
Publisher : Routledge
Page : 288 pages
File Size : 54,7 Mb
Release : 2000-09-28
Category : Business & Economics
ISBN : 9781134642229

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Microfoundations and Macroeconomics by Steven Horwitz Pdf

In the past, Austrian economics has been seen as almost exclusively focused on microeconomics. Here,Steven Horwitz constructs a systematic presentation of what Austrian macroeconomics would look like. This original and highly accessible work will be of great value and interest to professional economists and students.