|
on Heterodox Microeconomics |
|
Issue of 2023‒06‒12
eighteen papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Lucrezia Fanti (Dipartimento di Politica Economica, DISCE, Università Cattolica del Sacro Cuore, Milano, Italia); Marcelo C. Pereira (Institute of Economics, University of Campinas, Campinas, Brazil); Maria Enrica Virgillito (Institute of Economics, Scuola Superiore Sant’Anna, Pisa, Italia) |
| Abstract: | Drawing on the labour-augmented K+S agent-based model, this paper develops a two-country North-South ABM wherein the leader and the laggard country interact through the international trade of capital goods. The model aims to address sources of asymmetries and possible converge patterns between two advanced economies that are initially differentiated in terms of the education level they are able to provide. Education is modeled as a national-level policy differently targeting the three usual levels, that is primary, secondary and tertiary. After being educated and entering the labour force, workers face a segmented market, divided into three types of job qualification, and the resulting position levels inside firms, i.e., elementary, technical and professional occupations. The three resulting labour market segments are heterogeneous in terms of both requested education level and offered wages. To address the role of trade and education, we experiment with different education-policy and trade settings. Ultimately, we are interested in understanding the coupling effects of asymmetries in education, which reverberate in segmented labour markets and differentiated growth patterns. Notably, our focus on capital-goods trade, rather than consumption goods, allows us to assess a direct link between productive capabilities in producing complex products and country growth prospects. |
| Keywords: | Agent-Based Model, Education, International Trade, Technology Gap, Labour Market |
| JEL: | C63 J3 E24 O1 |
| Date: | 2023–05 |
| URL: | http://d.repec.org/n?u=RePEc:ctc:serie5:dipe0032&r=hme |
| By: | Antonio Sánchez‐bayón (URJC - Universidad Rey Juan Carlos [Madrid]); Estrella Trincado-Aznar (UCM - Universidad Complutense de Madrid = Complutense University of Madrid [Madrid]); Francisco J Sastre (ESIC Business & Marketing School) |
| Abstract: | Contribution: This review offers a descriptive and explanatory study on the colonisation of the US West, under the hermeneutical turn from heterodox economic approaches, to deal with some current contradictions and anachronism in the mainstream view. Also, there is a systematisation of the American utopias, divided into religious and ideological experiments, with a comparison. |
| Keywords: | the United States of America (USA) religion & economics anarcho-capitalism Austrian School of Economics (Austrian Economics) new institutional approach colonisation communitarian farms utopias, the United States of America (USA), religion & economics, anarcho-capitalism, Austrian School of Economics (Austrian Economics), new institutional approach, colonisation, communitarian farms, utopias |
| Date: | 2023–01–24 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04056080&r=hme |
| By: | Fix, Blair |
| Abstract: | In my last post, I discussed the underwhelming relation between interest rates and unemployment. In this post, I’ll look at a better way to connect unemployment to interest income. It turns out that if you take US net interest and divide it by corporate profit, you get a ratio that closely tracks unemployment. It’s a measure that Jonathan Nitzan and Shimshon Bichler call the ‘maturity of capitalism’. If this language sounds odd, that’s because Nitzan and Bichler see capitalism differently than your average economists. So before we get to the data, let’s review some of their thinking. |
| Keywords: | income distribution, interest rate, maturity of capitalism, profit, sabotage, unemployment |
| JEL: | P00 P1 E24 J6 D3 E4 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:270869&r=hme |
| By: | Vergés-Jaime, Joaquim |
| Abstract: | A wide ideological consequence of the standard model –in (mainstream) Economics– beyond Economics itself is that in the last decades Competition –so understood, with a capital letter– has implicitly become sort of a myth in economic policy and the political arena in general. Competition is, of course, consubstantial to trade; and trade is certainly consubstantial to the division of labour and specialisation, and thereby to economic progress and development. Certainly, it fosters efficiency and improvements in products and services, including innovations that give way to new ones. It is thus a ‘good practice’, an essential means to facilitate the economic development of society. There are, certainly, some exceptions: products or services for which it is not easy, sometimes almost not possible, for citizens, individual buyers, users, or consumers to reasonably have elements, information or knowledge to evaluate the actual utility, convenience, and personal and social implications of the good in question. This is a technical condition that most professional economists, both orthodox and heterodox, will coincide in underlining. However, what appears to have become a problem in this regard, in certain academic and political instances, is the mythification of Competition: to tacitly consider it as an end in itself instead of as a means to improve social well-being. This mythical character de facto assigned to the concept ‘Competition’ is intended to be illustrated in this paper. |
| Keywords: | Competition; Modern Neoclassical Paradigm; Mainstream Economics; Economics and Myths; Heterodox Economics; Political Economy |
| JEL: | A11 A13 A14 D6 D60 K20 |
| Date: | 2022–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:117317&r=hme |
| By: | Antoine Soubeyran (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | As physics provides the equations of motion of a body, this paper formulates, for the first time, at the conceptual and mathematical levels, the inequations of motion of an individual seeking to meet his needs and quasi needs in an adaptive (not myopic) way. Successful (failed) dynamics perform a succession of moves, which are, at once, satisficing and worthwhile (free from too many sacrifices), or not. They approach or reach desires (fall in traps). They balance the desired speed of approach to a desired end (a distal promotion goal) with the size of the required immediate sacrifices to go fast (a proximal prevention goal). Therefore, each period, need/quasi need satisfaction success requires enough self control to be able to make, in the long run, sufficient progress in need/quasi need satisfaction without enduring, in the short run, too big sacrifices. A simple example (lose or gain weight) shows that the size of successful moves must be not too small and not too long. A second paper will solve this problem, using variational principles and inexact optimizing algorithms in mathematics. This strong multidisciplinary perspective refers to a recent mathematical model to psychology: the variational rationality theory of human life stay and change dynamics. |
| Keywords: | need satisfaction, speed of progress, sacrifices, dynamical system, variational rationality |
| Date: | 2022–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-04065103&r=hme |
| By: | Ren\'e Aid; Matteo Basei; Giorgio Ferrari |
| Abstract: | We consider a mean-field model of firms competing \`a la Cournot on a commodity market, where the commodity price is given in terms of a power inverse demand function of the industry-aggregate production. Investment is irreversible and production capacity depreciates at a constant rate. Production is subject to Gaussian productivity shocks, while large non-anticipated macroeconomic events driven by a two-state continuous-time Markov chain can change the volatility of the shocks, as well as the price function. Firms wish to maximize expected discounted revenues of production, net of investment and operational costs. Investment decisions are based on the long-run stationary price of the commodity. We prove existence, uniqueness and characterization of the stationary mean-field equilibrium of the model. The equilibrium investment strategy is of barrier-type and it is triggered by a couple of endogenously determined investment thresholds, one per state of the economy. We provide a quasi-closed form expression of the stationary density of the state and we show that our model can produce Pareto distribution of firms' size. This is a feature that is consistent both with observations at the aggregate level of industries and at the level of a particular industry. We establish a relation between economic instability and market concentration and we show how macroeconomic instability can harm firms' profitability more than productivity fluctuations. |
| Date: | 2023–04 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2305.00541&r=hme |
| By: | Michael Walton |
| Abstract: | Nearly all challenges in international development tend to be complex because they depend on constantly evolving human behaviour, systems, and contexts, involving multiple actors, entities, and processes. As a result, both the discovery and scaling of innovations to address challenges in development often involve changes in system behaviour or even system-level transformation. This is rarely a linear process over time and can result in unexpected outcomes. Existing evaluation techniques commonly used in international development, including Randomized Control Trials (RCT) and quasi-experimental methods, are good at assessing specific effects of interventions but are not designed for the change processes inherent to innovation and scaling within a system. There is a need to reconstruct how we use existing measurement tools, techniques, and methodologies so that they capture the complexity of the environment in which an intervention or change occurs. We introduce Adaptive Evaluation, designed to learn at various levels of complexity while supporting the transformation needed to foster sustainable change. An Adaptive Evaluation uses three main approaches to work with complex questions—systems diagnosis, theory-based assessment of change processes, and iterative designs. An Adaptive Evaluation typically builds hypotheses from field-based interactions, emphasizes learning over testing, advocates open-mindedness with techniques, and appreciates the value of dialogue and participation in navigating complex processes. It can use RCT or similar techniques to analyse specific processes within a system or a development cycle, but these are embedded in a broader approach to assessment and interpretation. It is designed to be flexible and adjust to shifting contexts. Finally, an Adaptive Evaluation can be applied at any stage in a complex intervention's lifecycle, from the interpretation of the system and change processes to rapid experimentation, prototyping, and testing of select interventions, and then adaptation to different settings for impact at scale. This paper provides the theoretical basis for an Adaptive Evaluation—the main approaches, core ideology, process, and applications. |
| Keywords: | adaptive evaluation, scaling, innovation, complexity theory, research methodology |
| JEL: | B41 |
| Date: | 2023–03 |
| URL: | http://d.repec.org/n?u=RePEc:cid:wpfacu:428&r=hme |
| By: | Parinov, Sergey |
| Abstract: | This study discusses socio-economic coordination mechanism design, which allows, in comparison with the classical mechanism design theory, to obtain a wider class of solutions, but with the loss of the ability to use the mechanism design's mathematical models and methods. The concepts of the coordinating activities and the basic forms of coordination of socio-economic agents are defined. The fundamental coordination process, which is present in all coordinated systems, is described. On this methodological basis the prerequisites, fundamentals and properties of socio-economic coordination are considered. A conceptual model of coordination is proposed, including a three-step algorithm for the coordination mechanism designing. As illustrations, based on the proposed algorithm some of the well-known coordination mechanisms are considered. Using the conceptual model of coordination, possible changes in the design and properties of coordination mechanisms because of the digitalization of socio-economic processes are analyzed. It is shown that digitalization leads to the convergence of the characteristics of basic forms of coordination and to the unification of their elements in digital form. This opens the possibility of creating a distributed computer system that performs the functions of a universal coordination mechanism. As one of the directions for the further development of this study, the creation of a computer agent-based simulation model of economy/society with the embedded coordination mechanisms is proposed. The possibility of creating a unified model and general theory of socio-economic coordination, which can serve as the methodological basis for creating a general theory of socio-economic activity, is discussed. |
| Keywords: | mechanism design theory; coordination mechanism design; conceptual model |
| JEL: | O1 O3 P0 |
| Date: | 2023–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:117282&r=hme |
| By: | Matthieu Clément (BSE - Bordeaux Sciences Economiques - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique); Eric Rougier (BSE - Bordeaux Sciences Economiques - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique); Jean-Philippe Berrou (LAM - Les Afriques dans le monde - IEP Bordeaux - Sciences Po Bordeaux - Institut d'études politiques de Bordeaux - IRD - Institut de Recherche pour le Développement - Institut d'Études Politiques [IEP] - Bordeaux - UBM - Université Bordeaux Montaigne - CNRS - Centre National de la Recherche Scientifique); François Combarnous (BSE - Bordeaux Sciences Economiques - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique); Dominique Darbon (LAM - Les Afriques dans le monde - IEP Bordeaux - Sciences Po Bordeaux - Institut d'études politiques de Bordeaux - IRD - Institut de Recherche pour le Développement - Institut d'Études Politiques [IEP] - Bordeaux - UBM - Université Bordeaux Montaigne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The term "middle class" is increasingly used to qualify the mass of people in developing countries who are neither poor nor rich and share consumption patterns historically associated with the western middle class. However, what differentiates them from the ideal-typical middle class, as well as the extent to which emerging middle classes differ across developing countries, has only been marginally documented by economists to date. This article proposes to scratch beneath the surface of the so-called middle-class that is burgeoning in developing countries by documenting the commonalities and differences hidden by the all-encompassing term of "middle class" for a set of developing countries exhibiting different levels of income, economic structures and socio-political systems: Brazil, Côte d'Ivoire, Turkey and Vietnam. Relying on quantitative and qualitative micro-economic data, our paper compares the objective characteristics (occupation, education, income), behavior and subjective expectations of the people standing in the middle of the income distribution in the four countries. Four main research questions structure the paper. Where is the middle? How is the middle specific? Who is in the middle? What does the middle aspire to? Results show that the middle-income group in each country covers distinct realities. Although some similar characteristics and behaviors are observable, our results reveal a strong heterogeneity within each national middle class, with no fewer than four to seven socio-economic subgroups, and strong country-specific traits as most of the subgroups are deeply rooted in the country's specific historical trajectory. In each country, our analysis also unveils a pattern of bipolarization between a rather affluent and stable middle class and a "new" or more vulnerable one. Finally, middle class members appear to be characterized by an individualist positioning and the absence of a marked political commitment, challenging the common assumption that developing countries' middle classes are agents of political change. |
| Keywords: | Social stratification, Income distribution, Middle class, Clustering, Qualitative surveys |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03773056&r=hme |
| By: | Baryon, Daniel |
| Abstract: | We stand now at a turning point, wherein many roads sprawl out in front of us. With unprecedented access to information, the atlas seems to lie within our hands. But, at this crossroads, the popularizers of these many paths shout over one another to persuade new travelers, only to find that most travelers now choose tourism rather than migration; exploration rather than arrival. It is hard to blame them. Having seen many return from a path leading to a dead-end, or worse, having lost those they know to a terrible bramble from which they will never escape, these weary travelers are paralyzed by choice. Confused and discouraged, many simply return home where a tormentor awaits, but wherein there is no longer the stress of uncertainty. I would like to tell you of a new path: its extent not yet fully explored, but peering through the forestation beyond, a great light emanates forth. Before we proceed, I would like to pose a question: why has this society accumulated so much power, yet somehow fails to meet the most basic needs of humanity? Why has this hierarchical structure changed hands between so many rulers, yet the peace they have promised never lasts? Their hands bloody, their adherents marching behind, a new society of domination always follows in time. Why? Those intent on creating their own societies of domination will offer all manner of empty excuses. But the true answers lie within an ideology which has been suppressed by the power hoarders: anarchism. This work is not meant to be a brief introduction to the topic. There are plenty of those already in existence. Instead, I want to offer a modern synthesis of anarchist ideas. So, whereas many other books and essays endeavor to give a broad, non-committal overview, here I want to ground you in a particular location within the body of anarchist thought. In doing this, we will not wander down every trail, but we will stop to look at the scenery from time to time. And, for this reason, one might see this work as motivated by the impulse described by Voline in his work On Synthesis: "The anarchist conception must be synthetic: it must seek to become the great living syn-thesis of the different elements of life, established by scientific analysis and rendered fruitful by the synthesis of our ideas, our aspirations and the bits of truth that we have succeeded in discovering; it must do it if it wishes to be that precursor of truth, that true and undistorted factor, not bankrupting of human liberation and progress, which the dozens of sullen, narrow and fossilized 'isms' obviously cannot become." Such a process is, of course, a lofty goal for any one person to carry out. To do this, I will go beyond the standard list of European thinkers that one is typically introduced to when they begin an inspection of this subject. These names will certainly feature in our narrative, as they were very important figures in the development of anarchism as a revolutionary movement. But the ideas of the anarchists are not only important to some specific geographic region. Now, more than ever before, anarchism has achieved a state of critical insight, especially as it has been informed by the work of Black, queer, indigenous, feminist, decolonial, and other anarchist thinkers. All those people who strive to be free of oppression will find their common struggle within its basis. After all, many of these realizations root to the earliest stages of humanity and will likely be at play in any possible human society. Many other anarchist works have failed to take into account these new developments of anarchist theory, to understand where the original struggles have fallen short, and then cooperate alongside this new coalition of thinkers in bringing anarchist principles to their highest culmination. So let us begin... |
| Keywords: | anarchism, capital as power, capitalism, cooperation, creorder, hierarchy, mega machine, power, state |
| JEL: | P00 K00 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:270854&r=hme |
| By: | Pierre Jacques (UCL - Université Catholique de Louvain = Catholic University of Louvain); Louis Delannoy (Inria Grenoble - Rhône-Alpes - Inria - Institut National de Recherche en Informatique et en Automatique, LJK - Laboratoire Jean Kuntzmann - Inria - Institut National de Recherche en Informatique et en Automatique - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - UGA - Université Grenoble Alpes); Baptiste Andrieu (UGA - Université Grenoble Alpes, The Shift Project - Redesigning the Economy to Achieve Carbon Transition); Devrim Yilmaz (AFD - Agence française de développement); Hervé Jeanmart (UCL - Université Catholique de Louvain = Catholic University of Louvain); Antoine Godin (AFD - Agence française de développement) |
| Abstract: | The biophysical foundations of socio-economic systems are underrepresented in the vast majority of macroeconomic models. This lack is particularly troublesome when considering the links between energy, matter and the economy in the context of the energy transition. As a remedy, we present here a biophysical stock-flow consistent macroeconomic model calibrated at the global scale, that combines detailed bottom-up estimates for the high capital intensity of renewable energies and the decreasing energy return on investment (EROI) of fossil fuels. We find that the completion of a global energy transition scenario compatible with the 1.5 °C objective of the Paris Agreement leads to a decrease of the system's EROI and to high investment share, employment and inflation trends, characteristic of a "war economy". Our results further indicate that a slower growth rate eases the transition, and call for further work on post-growth scenarios studies. |
| Keywords: | Ecological macroeconomics, Stock-flow consistent modelling, Energy transition, Energy return on investment |
| Date: | 2023–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04087628&r=hme |
| By: | Yolande Francois (ISEOR - Institut de Socio-économie des Entreprises et des ORganisations - Institut de socio-économie des entreprises et des organisations, Laboratoire de Recherche Magellan - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - Institut d'Administration des Entreprises (IAE) - Lyon) |
| Abstract: | This article explores the synergy between philosophy, corporate finance, and corporate social responsibility (CSR), emphasizing the importance of interdisciplinarity in addressing the complex ethical, social, and environmental challenges faced by organizations today. By integrating the teachings of philosophy and ethical theories, companies can enrich their understanding and practice of ethical corporate finance and CSR, developing conceptual frameworks, critical thinking skills, and systematic approaches for ethical decisionmaking and problem-solving. Companies that adopt ethical and responsible practices can promote value creation for stakeholders, financial performance, and long-term sustainability, thereby contributing to the achievement of sustainable development goals and the creation of a more just, sustainable, and responsible world. |
| Abstract: | Cet article examine l'apport de la philosophie à la finance d'entreprise éthique et identifie les défis éthiques auxquels elle est confrontée. La philosophie peut fournir des cadres normatifs et des outils pour évaluer et justifier les décisions et les pratiques financières, ainsi que pour développer les compétences éthiques des professionnels de la finance. Les défis éthiques incluent les conflits d'intérêts, la manipulation et la fraude, la responsabilité sociale des entreprises, la gouvernance d'entreprise et l'innovation financière. Cette étude met en évidence la nécessité d'une approche réfléchie et intégrée pour résoudre ces défis éthiques. |
| Keywords: | Philosophy Corporate finance Corporate social responsibility (CSR) Ethics Interdisciplinarity Ethical decision-making Sustainability Sustainable development Financial performance Stakeholders, Philosophy, Corporate finance, Corporate social responsibility (CSR), Ethics, Interdisciplinarity, Ethical decision-making, Sustainability, Sustainable development, Financial performance, Stakeholders |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04081105&r=hme |
| By: | Zehui, Zhao |
| Abstract: | This paper provides a comprehensive review of the literature on pro-environmental behavior and actions, highlighting key theories, empirical evidence, and practical implications for both sociology and economics. We begin by outlining the foundations of pro-environmental behavior research, drawing from the Theory of Planned Behavior (Ajzen, 1991), the Value-Belief-Norm Theory (Stern, Dietz, & Guagnano, 1995), and the Social Identity Theory (Tajfel & Turner, 1986) as primary theoretical frameworks. We then discuss the role of individual, social, and contextual factors in shaping pro-environmental behaviors, focusing on the importance of personal values (Schwartz, 1992), environmental concern (Dunlap & Van Liere, 1978), social norms (Cialdini, Reno, & Kallgren, 1990), and self-efficacy (Bandura, 1977). Next, we explore the role of economic incentives in promoting pro-environmental actions, highlighting the effectiveness of market-based instruments, such as carbon pricing (Stavins, 1998) and environmental subsidies (Goulder & Parry, 2008), as well as non-market approaches, like nudges (Thaler & Sunstein, 2008) and informational campaigns (McKenzie-Mohr, 2011). We emphasize the importance of interdisciplinary approaches in understanding and promoting pro-environmental behavior, including the integration of behavioral economics (Shogren & Taylor, 2008) and social psychology (Gifford & Nilsson, 2014) within the broader field of environmental studies. In conclusion, we highlight the most promising avenues for future research, such as the role of digital technologies in fostering environmental engagement (Milkoreit et al., 2018), the impact of climate change communication on behavior change (Moser, 2010), and the potential for leveraging social networks and community-based initiatives to promote sustainable lifestyles (Burchell, Rettie, & Patel, 2013). By synthesizing the extensive body of literature on pro-environmental behavior and actions, this paper aims to guide both researchers and practitioners in developing more effective strategies to foster sustainable societies. |
| Date: | 2023–04–25 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:cajup&r=hme |
| By: | Corbu, Ion |
| Abstract: | One can approximate the idea that political doctrines represent coherent sets of visions, principles and theses that enable the political organization and leadership of a country or groups of countries. In its content, a doctrine reflects a certain historical experience of humanity, based on observations and analyzes of previous doctrines and concrete results on society generated by previous doctrines. As many doctrines so far have contained within themselves the seeds of potential conflicts, the world has been concerned and is concerned with imagining and theorizing political doctrines that would ensure the development of society and the realization of relations between the members of society that would satisfy its general aspirations. At the same time, political doctrines must give society the general directions of action, the foundations of societal existence and economic and social performance. The doctrine presented in this work has a rational-empirical character. It constitutes a general solution to the disappointments and conflicts that the doctrines in the European societal space, until now, have generated. We have identified the idea that EDMRC can be a viable solution: cooperation and mutual respect in the European space, combined with Christian morality in a world where technological progress influences all areas of economic and social life. This doctrine can ensure, in the long term, both the harmonious development of society and the non-conflictual coexistence of different states. |
| Keywords: | political doctrine; cooperation; mutual respect; Christian morality; nation |
| JEL: | B52 B59 D59 D60 F2 F29 F42 H1 H19 H53 H54 H55 H75 H77 P5 P59 Z13 |
| Date: | 2023–05–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:117251&r=hme |
| By: | Corbu, Ion |
| Abstract: | Cet article aborde un domaine relativement nouveau: neuroéconomie. La littérature montre qu’il existe une science nouvelle qui combine les résultats de recherche sur les plans économique, psychologique et sur le plan du neurosciences.Dans le présent document nous aprecions que aussi d’autres sciences peut que contribuer à la fondation de cette nouvelle science Les recherches sur les réponses du cerveau aux différents stimuls, par exemple, les images publicitaires, utilisent des techniques spécialisées et des dispositifs tels que l’imagerie fonctionnelle, électroencéphalogramme, etc. On peut donc déterminer quelles zones du cerveau sont activées pendant que les décisions économiques sont prises, le type d’émotions qui sont générées et les facteurs qui déterminent ou les influencent. Cela pourrait également examiner la décision de neurones.Les résultats obtenus jusqu’à présent démontre le rôle important que les processus émotionnels ont dans la décision économique et financière plus que les décisions rationnelles |
| Keywords: | neuroéconomie, science interdisciplinaire, neurosciences, pensée, cerveau, imagérie célébrale |
| JEL: | B59 D87 |
| Date: | 2023–05–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:117255&r=hme |
| By: | Cero, Ian (University of Rochester Medical Center); Luo, Jiebo; Falligant, John |
| Abstract: | A complete science of human behavior requires a comprehensive account of the verbal behavior those humans exhibit. Existing behavioral theories of such verbal behavior have produced compelling insight into language’s underlying function, but the expansive program of research those theories deserve has unfortunately been slow to develop. We argue that the status quo’s manually implemented and study-specific coding systems are too resource intensive to be worthwhile for most behavior analysts. These high input costs in turn discourage research on verbal behavior overall. We propose lexicon-based sentiment analysis as a more modern and efficient approach to the study of human verbal products, especially naturally-occurring ones (e.g., psychotherapy transcripts, social media posts). In the present discussion, we introduce the reader to principles of sentiment analysis, highlighting its usefulness as a behavior analytic tool for the study of verbal behavior. We conclude with an outline of approaches for handling some of the more complex forms of speech, like negation, sarcasm, and speculation. The appendix also provides a worked example of how sentiment analysis could be applied to existing questions in behavior analysis, complete with code that readers can incorporate into their own work. |
| Date: | 2023–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:gw97k&r=hme |
| By: | Saussay, Aurélien; Zugravu-Soilita, Natalia |
| Abstract: | Most analyses of the impact of heterogeneous environmental policy stringency on the location of industrial firms have considered the relocation of entire activities – the well-known pollution haven hypothesis. Yet international enterprises may decide to only offshore a subset of their production chain – the so-called pollution offshoring hypothesis (POH). We introduce a simple empirical approach to test the POH combining a comprehensive industrial mergers and acquisitions dataset, a measure of sectoral linkages based on input-output tables and an index score of environmental policy stringency. Our results confirm the impact of relative environmental policy stringency on firms’ decisions to engage in cross-country M&As. Our findings also indicate that environmental taxation have a stronger impact on international investment decisions than standards-based policies. Further, we find that transactions involving a target firm operating in a sector upstream of the acquirer are more sensitive to environmental policy stringency, especially when that sector is highly pollution-intensive. This empirical evidence is consistent with the pollution offshoring hypothesis. |
| Keywords: | FDI; pollution offshoring; global supply chain; firm location; environmental regulation; Centre for Climate Change Economics and Policy grant (ES/R009708/1);Climate SOLSTICE project JUST-DECARB (ES/V013971/1);PRINZ (ES/W010356/1); Leverhulme Early Career Fellowship (ECF/2021/536); Grantham Foundation for the Protection of the Environment; Elsevier deal |
| JEL: | D20 F23 Q28 |
| Date: | 2023–02–23 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:118352&r=hme |
| By: | Naidoo, Meshandren |
| Abstract: | A novel theory of subjectivity which fuses German Idealism, information theory and statistical mechanics to uncover the true subject; and to create a mode for categorizing agents. |
| Date: | 2023–05–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:cwugk&r=hme |