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on Heterodox Microeconomics |
| By: | Frédéric Marty (GREDEG CNRS; University of Nice Sophia Antipolis; OFCE - Sciences Po. Paris) |
| Abstract: | Our paper aims at developing an analysis of the European competition law enforcement dynamics based on an economics of conventions' framework. We question the ordoliberal theoretical foundations of the EU competition policy and we assess to what extent the implementation of a "more economic approach" might pertain to a convention inspired by the Chicago School normative views. We question the economic history, the history of economics thought, and the legal history as we consider that the European courts case law is the main driving force of conventional shifts in matter of competition law enforcement. |
| Keywords: | Competition policy, abuse of dominant position, ordoliberalism, Chicago school competition law and economics |
| JEL: | B52 K21 L41 N44 |
| Date: | 2014–02 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2014-06&r=hme |
| By: | Janssen, Simon (University of Zurich); Tuor Sartore, Simone N. (University of Zurich); Backes-Gellner, Uschi (University of Zurich) |
| Abstract: | We analyze the relationship between social attitudes on gender equality and firms' pay-setting behavior by combining information about regional votes relative to gender equality laws with a large data set of multi-branch firms and workers. The results show that multi-branch firms pay more discriminatory wages in branches located in regions with a higher social acceptance of gender inequality than in branches located in regions with a lower acceptance. The results are similar for different subsamples of workers, and we cannot find evidence that regional differences in social attitudes influence how firms assign women and men to jobs and occupations. The investigation of a subsample of performance pay workers for whom we are able to observe their time-based and performance pay component separately shows that social attitudes on gender equality only influence the time-based pay component but not the performance pay component of the same workers. Because regional-specific productivity differences should influence the workers' performance pay and time-based pay, unobserved gender-specific productivity differences are not likely to explain the regional variation in within firm gender pay gaps. The results support theories and previous evidence showing that social attitudes influence gender pay gaps in the long run. |
| Keywords: | gender pay gaps, social attitudes, firms' pay setting |
| JEL: | J31 J33 J71 M5 |
| Date: | 2014–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7959&r=hme |
| By: | Philippe Batifoulier; Nicolas Da Silva |
| Abstract: | Health economics appears to have difficulty in taking medical ethics into consideration because of the standard figure of homo economicus. In main stream economics, the ethical attitude of a physician is then formalized in terms of “medical altruism”. This paper seeks to highlight the advantages and the contradictions of this medical altruism. We can identify several levels of problems raised by this medical altruism: theoretical paradoxes and economic policy problems for the regulator. The interest of the concept of medical altruism is to save or improve the economic theory with a more realistic assumption. However, if this assumption is more realistic, it induces paradoxes of economic theory. The misfortune for economists is that this theoretical inconstancy is lined with economic policy issues. These remain unresolved and we do not know what to do. In conclusion, we think that it becomes crucial to consider seriously medical ethics. |
| Keywords: | healthcare; altruism, professional ethics; instrumental rationality; intrinsic motivation |
| JEL: | B41 I10 I18 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2014-9&r=hme |
| By: | Butzbach, Olivier |
| Abstract: | Since the 2007-08 crisis, banks in many countries have been facing what seems to be a serious “trust crisis”. This sharp decline in trust in banks and banking, the likely outcome of the near-collapse of banking systems during the crisis, is partly captured by a growing empirical literature. However, this literature presents serious shortcomings, which reflect a more general lack of theorization of trust in banks. This lack of theorization certainly has much to do with the distance between the economic literature on banks and banking and the sociological and economic literature on trust. This paper aims at bridging this gap by proposing a new conceptual framework. In particular, the paper identifies three related dimensions of trust that seem to have relevance for the banking industry: “relational”, “systemic” and “vertical” trust. While mainstream financial intermediation theory and agency theory provide a good understanding of relational trust, they are less well equipped to deal with the other dimensions of trust. The paper, therefore, builds on heterodox theories of money and debt to build a more comprehensive understanding of trust in banks. This tentative conceptual framework, in turn, has implications for current theories of banking and of trust. |
| Keywords: | Trust; banks and banking; trust crisis; financial intermediation theory; institutional theory; money and debt, heterodox economics. |
| JEL: | B25 B52 D89 G21 Z13 |
| Date: | 2014–01–31 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:53587&r=hme |
| By: | Shaikh, Salman |
| Abstract: | The paper aims to present the Islamic appraisal of established theories in academic literature of development economics, both in classical and neo-classical economics. The paper also explains the Islamic concept of human development and shows it to be more welfare maximizing to humans in their entire life span which includes afterlife. The paper extensively reviews the development literature in mainstream economics and Islamic economics. The paper also uses basic mathematical formulation to explain the concepts. The paper explains the Islamic concept of human development and shows it to be more welfare maximizing to humans and to society. It discusses how Islam is not the source of underdevelopment in Muslim countries and cites the external factors responsible for underdevelopment besides weak internal administration, commitment and management. The paper is one of the few attempts to cite and critically appraise specific development theories from Islamic perspective. |
| Keywords: | Development Economics, Growth Economics, Economic Development, Poverty, Income Inequality, Income Distribution |
| JEL: | I3 L38 O1 |
| Date: | 2014–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:53800&r=hme |
| By: | Schlauch, Michael |
| Abstract: | This paper explores new ways of applying ecological knowledge to solve economic problems in a manner that suits the complexity of society and environmental challenges. This is done by developing the integrative analysis method. The integrative analysis uses systems ecology in order to characterize economic systems with their energetic properties and model them as ecosystems. This makes it possible to assess them with the design principles of permaculture, a resourceful discipline of ecological engineering. Through a process that adopts the main characteristics of the "Soft Systems Methodology" incremental changes can be found to make economies increasingly resemble the natural functioning of healthy and stable ecosystems. To show the capabilities of the integrative analysis, it is applied to three different perceptions of the labour market and its surrounding actors, starting with the viewpoint of the European Commission. In conclusion, many EU proposals to meet labour-related challenges can be refined and complemented with existing alternative proposals. This way the integrative analysis makes it possible to enhance economic strategies with integrated solutions for a widened problem scope. As a consequence, single problem interventions also address the far-reaching environmental and social challenges of declining resource and energy supply. |
| Keywords: | emergy, entropy, systems ecology, permaculture, labour, integrative science |
| JEL: | D85 J48 Q01 Q57 |
| Date: | 2014–02–17 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:53757&r=hme |
| By: | Diana Filip (LEO - Laboratoire d'économie d'Orleans - CNRS : UMR7322 - Université d'Orléans); Cyrille Piatecki (LEO - Laboratoire d'économie d'Orleans - CNRS : UMR6221 - Université d'Orléans) |
| Abstract: | La comptabilité en partie double présentée par Luca Pacioli au quinzième siècle pourrait être considéré comme un argument fort en faveur de la calcul multiplicatif qui peut être développée à partir concept de calcul non-newtonien de Grossman et Katz . Afin de souligner cette affirmation, nous présentons un bref historique de la comptabilité depuis son enfance et nous faisons le point de la recherche d'Ellerman concernant la comptabilité à double entrée. |
| Keywords: | Comptabilité en partie double ; analyse non-newtonienne |
| Date: | 2014–02–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-00945782&r=hme |
| By: | Diana Filip (LEO - Laboratoire d'économie d'Orleans - CNRS : UMR7322 - Université d'Orléans); Cyrille Piatecki (LEO - Laboratoire d'économie d'Orleans - CNRS : UMR6221 - Université d'Orléans) |
| Abstract: | Jusqu'à présent, le calcul non-newtonien, calcul multiplicatif en particulier, a été présenté comme une curiosité et est presque ignoré dans le domaine des sciences sociales. Dans cet article, après une brève présentation de ce calcul, nous essayons de montrer comment il pourrait être utilisé pour ré-explorer d'un autre point de vue la théorie éconiomique classique, plus particulièrement la croissance économique et, en statistique, la méthode du maximum de vraisemblance des statistiques. |
| Keywords: | analyse non-newtonienne ; théorie economique ; croissance ; maximum de vraisemblance |
| Date: | 2014–02–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-00945788&r=hme |
| By: | Tesfatsion, Leigh |
| Abstract: | The primary goal of these introductory notes is to promote the clear presentation and rigorous analysis of dynamic economic models, whether�expressed in equation or agent-based form.� A secondary goal is to promote the use of state-space modeling with its respect for historical process, for cause leading to effect without top-down imposition of global constraints.� If economic modelers truly wish to respect the rationality of decision-makers, they should have the courage of their convictions; they should not be doing for their modeled decision-makers what in reality these decision-makers must do for themselves. |
| Keywords: | Dynamic economic modeling; state-space model; presentation; analysis |
| JEL: | B4 C6 |
| Date: | 2014–02–18 |
| URL: | http://d.repec.org/n?u=RePEc:isu:genres:37305&r=hme |