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on History and Philosophy of Economics |
| By: | Innset, Ola |
| Abstract: | Review of “What Capitalism Needs. Forgotten Lessons of Great Economists” by John L. Campbell and John A. Hall |
| Date: | 2023–03–11 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:xrb5u&r=hpe |
| By: | Giraud, Yann (Université de Cergy-Pontoise) |
| Abstract: | A transcription of a 2019 conversation with Duke historian E. Roy Weintraub on his intellectual development over the 1980s from mathematician to economist to historian. The conversation also explored Weintraub’s early and continuing attempts to forge new ways to study the history of contemporary economics, and the role of science studies in providing a natural language for such explorations. A French translation has already been published in the journal Zilsel: Science, technique, société. |
| Date: | 2023–03–11 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:je6bp&r=hpe |
| By: | Becchio, Giandomenica |
| Abstract: | Review of “Economic Theory in the Twentieth Century, An Intellectual History. Volume II, 1919–1945: Economic Theory in an Age of Crisis and Uncertainty” by Roberto Marchionatti |
| Date: | 2023–03–11 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:fp3d6&r=hpe |
| By: | Louis-Gaëtan Giraudet (ENPC - École des Ponts ParisTech, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Antoine Missemer (CNRS - Centre National de la Recherche Scientifique, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Taking a long-run historical perspective, we analyze how debates about energy efficiency have evolved in the economic literature since the mid-19th century. We distinguish three periods: the classical age, focused on the rebound effect, from Jevons in the 1860s to American institutionalism in the mid-20th century; the modern age, marked by the rise of the energy efficiency gap concept, from the 1970s to the 1990s; the contemporary age, from the early 2000s onwards, focused on the concept of energy performance gap. We find that reflections on energy efficiency have embraced more general developments in the economics discipline: emergence of institutionalism in the classical age, primarily concerned with policy; public economics in the modern age, emphasizing the concept of market failure; behavioral economics and the so-called credibility revolution in empirical economics in the contemporary age, which made energy efficiency a much-favored context for conducting experiments, questioning rationality and implementing nudges. The transitions between phases closely paralleled changes in societal concerns, from resource depletion in the classical age to energy security in the modern age to climate change in the contemporary age. Throughout this long history, we have detected a change in focus from macro- to micro-perspectives. Despite increasing sophistication and constant reinterpretation, energy efficiency remains a subject of controversy, such that no consensus has yet been reached on its potential and effective benefits. In closing, we propose to update Jaffe, Newell and Stavins' landmark energy efficiency gap framework to account for the most recent developments and trace avenues for future research. |
| Keywords: | energy efficiency, energy conservation, rebound effect, market barriers and failures, nudge, empirical turn, history of economic thought |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-02301636&r=hpe |
| By: | Wible, James R. |
| Abstract: | Review of “Veblen: The Making of an Economist Who Unmade Economics” by Charles Camic |
| Date: | 2023–03–11 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:8yhkr&r=hpe |
| By: | Ankel-Peters, Jörg; Fiala, Nathan; Neubauer, Florian |
| Abstract: | Replication and constructive controversy are essential for scientific progress. This paper reviews the impact of all replications published as comments in the American Economic Review between 2010 and 2020. We investigate the citation rates of comments and whether a comment affects its original paper's citation rates. We find that most comments are barely cited, and they have no impact on the original papers' subsequent citations. This finding holds for original papers for which the comment diagnoses a substantive problem. We conclude from these citation patterns that replications do not update the economics literature. In an online opinion survey, we elicited viewpoints of both comment authors and original authors and find that in most cases, there is no consensus regarding the replication's success and to what extent the original paper's contribution sustains. This resonates with the conventional wisdom that robustness and replicability are hard to define in economics. |
| Keywords: | Replication, citations, meta-science |
| JEL: | A11 A14 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:1005&r=hpe |
| By: | Pack, Spencer |
| Abstract: | Review of “David Ricardo: An Intellectual Biography” by Sergio Cremaschi |
| Date: | 2023–03–11 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:9spzx&r=hpe |
| By: | Claude Ménard (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 UFR02 - Université Paris 1 Panthéon-Sorbonne - École d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne) |
| Abstract: | That "institutions matter" has become a mantra among economists. It has not always been so. For a long time, the conventional wisdom considered institutions as exogenous parameters, the study of which should be delegated to ‘soft' social sciences, mainly sociology and political sciences. And many contemporary economists still disregard the analysis of institutions in their research agenda, mainly because of the difficulty in quantifying and modeling their role |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04012202&r=hpe |
| By: | Claude Ménard (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, UP1 UFR02 - Université Paris 1 Panthéon-Sorbonne - École d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne) |
| Abstract: | We owe Williamson for the formal introduction of hybrid organizations as essential building blocks in ‘the institutional structure of production'. The analysis of these institutional arrangements, which culminated in The Mechanisms of Governance , provided a unified approach to the variety of setting within which transactions are embedded, opening a new perspective on a cornerstone of modern economies. This essay explores the past, present, and future of this breakthrough. First, it reviews the progressive integration of hybrids as a category of their own in the classic ‘make-or-buy' model, inserting hybrids as an ‘intermediate' form different from markets in that adaptation cannot be done unilaterally and different from ‘unified organizations' in that adaptation cannot be done by fiat. Second, it shows how this initial characterization of hybrids, besides providing a coherent approach to empirical research available at the time, gave a powerful impulse to new contributions, identifying more rigorously the fundamental features of hybrids, throwing light on why firms go hybrid, and explicating the governance structure chosen. Last, it offers insights on a research program that remains a work in progress, delineating new terrains to explore and new puzzles to solve. |
| Keywords: | Contracts, decision rights, governance, hybrids, legal regime, organization, property rights |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04012150&r=hpe |
| By: | Cheng, Chung-Tang |
| Abstract: | Review of “Progression Through Regression” by Jeff E. Biddle |
| Date: | 2023–03–11 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:k4e8c&r=hpe |
| By: | Mohajan, Devajit; Mohajan, Haradhan |
| Abstract: | This paper tries to discuss families of grounded theory. Grounded theory is a systematic research analysis that deals with qualitative research area. It is based on the effort to collect field data; follow the development and refinement through the systematic data analysis, and the final result can test existing theories or develop a new theory. Therefore, it constructs hypotheses and theories by the continuous collection and analysis of data. It is established for the first time in 1967 by two American sociologists Barney Galland Glaser and Anselm Leonard Strauss. Since the starting, it has taken on different iterations, and evolved a number of variants, such as classic grounded theory, Straussian grounded theory, constructivist grounded theory, and feminist grounded theory. New grounded theory researchers face difficulties to understand how to operate and apply families of grounded theory concepts and methods properly. This study has planned to provide an overview of families of grounded theory with the proper explanation for them. In this study an attempt has been taken to provide an up-to-date research framework of a grounded theory and its variants. |
| Keywords: | Grounded theory, qualitative research, Glaser, Strauss, variants of grounded theory |
| JEL: | A14 B54 D6 I31 |
| Date: | 2023–01–18 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:116752&r=hpe |
| By: | Alessio Emanuele Biondo |
| Abstract: | This paper presents an agent-based model with the aim to follow, as closely as possible, the rationale of the macroeconomic model advanced by J.M. Keynes in his famous book entitled The General Theory of Unemployment, Interest and Money. Since the task is admittedly ambitious, it has been divided over more than one single paper. In the present one, the modelling choices are described and the main objective of the General Theory will be provided, i.e., to determine the level of income and employment starting from the interest rate, the marginal efficiency of capital, and the marginal propensity to consume. In the forthcoming companion paper, results from a more articulated set of simulations - referred to some exercises of monetary and fiscal policy - will be reported. The description of the elements of the model is provided with several supporting parts of the original text. |
| Date: | 2023–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2303.00889&r=hpe |
| By: | Paul Koster (Vrije Universiteit Amsterdam) |
| Abstract: | Public benefit-cost analysis of market policies often relies on a particular definition of market surplus that adds up consumer and producer surplus and external costs. This paper provides an overview of conceptual strategies to deal with moral considerations and then develops an adjusted market surplus function that is able to deal with heterogeneous normative perspectives. In a stylised model, new expressions for first-best Pigouvian taxes are developed that depend on moral considerations. A novel moral rule-of-half approximation is provided for the potential surplus gains of taxation or behavioural change. |
| Keywords: | Welfare economics, Moral considerations, Normative Pluralism, Ethics and market value, Benefit-cost analysis, Pigouvian taxation. |
| JEL: | D04 D61 D62 D63 B59 A13 |
| Date: | 2023–03–03 |
| URL: | http://d.repec.org/n?u=RePEc:tin:wpaper:20230008&r=hpe |
| By: | Actis Di Pasquale, Eugenio |
| Abstract: | En este texto se pretende responder al interrogante ¿qué es la economía? Para ello, en primer lugar, se diferencia el significado de ortodoxia y heterodoxia, lo que permite presentar una selección de escuelas de pensamiento económico (clásica, socialista científica, neoclásica, keynesiana, institucionalista y feminista). Esto nos va a permitir distinguir los objetos de estudio de cada una y su correspondiente definición, ubicando doctrinalmente las diferencias entre macroeconomía y microeconomía, como recuperar el debate entre economía positiva y normativa. En segundo lugar, a través de una mirada crítica estudiamos la definición más difundida de economía como ciencia de la escasez, destacando sus limitaciones. En tercer lugar, presentamos los avances recientes en el campo de la economía (economía social y solidaria, economía del comportamiento, neuroeconomía, economía azul, economía ecológica, economía del conocimiento y economía del cuidado). En cuarto lugar realizamos una reflexión final y proponemos una definición general de esta ciencia. Al final del documento se presenta una guía de autoestudio y repaso. |
| Keywords: | Economía; Pensamiento Económico; |
| Date: | 2023–03 |
| URL: | http://d.repec.org/n?u=RePEc:nmp:nuland:3818&r=hpe |
| By: | Konstantin A. Kholodilin |
| Abstract: | Rent control is a highly debated social policy that has been omnipresent since World War I. Since the 2010s, it is experiencing a true renaissance, for many cities and countries facing chronic housing shortages are desperately looking for solution, directing their attention to controling housing rents and other restrictive policies. Is rent control useful or does it create more damage than utility? To answer this question, we need to identify the effects of rent control. This study reviews a large empirical literature looking at various aspects of rent controls. We conclude that rent controls are quite effective in terms of lowering housing rents or slowing their growth, but they also lead to a wide range of adverse effects affecting both landlords and tenants. |
| Keywords: | Rent control, housing policy, empirical literature review |
| JEL: | K25 N90 R38 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp2026&r=hpe |
| By: | Guerzoni, Marco (Università degli Studi di Milano-Bicocca); Riso, Luigi (Catholic University Milan); Vivarelli, Marco (Università Cattolica del Sacro Cuore) |
| Abstract: | Using both regression analysis and an unsupervised graphical model approach (never applied before to this issue), we confirm the rejection of the Gibrat's law when our firm-level data are considered over the entire investigated period, while the opposite is true when we allow for market selection. Indeed, the growth behavior of the re-shaped (smaller) population of the survived most efficient firms is in line with the Law of Proportionate Effect; this evidence reconciles early and current literature testing Gibrat's law and may have interesting implications in terms of both applied and theoretical research. |
| Keywords: | Gibrat's Law, firm survival, market selection, firm growth |
| JEL: | L11 |
| Date: | 2023–03 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp15995&r=hpe |