A Brief Overview of the Theory of Unequal Exchange and... Ayşe Özden Birkan Abstract
... German economist G.Kohlmey was denying the existence of an international rate of profit, the reasons being twofold(Raffer, 1987). Firstly, low wages, low prices of land and low organic composition of capital as well as high rates of exploitation imply that profit rates in the periphery will usually ...
... German economist G.Kohlmey was denying the existence of an international rate of profit, the reasons being twofold(Raffer, 1987). Firstly, low wages, low prices of land and low organic composition of capital as well as high rates of exploitation imply that profit rates in the periphery will usually ...
Management of New Technology Ec261 Lecture 7
... dominance in some classes of drugs but leapfrogging in other classes, so even at the industry level it is hard to generalise. What can we say about patterns of innovation, then? For one thing, we would expect that the pattern of change in leadership would reflect the dominant oligopoly model for the ...
... dominance in some classes of drugs but leapfrogging in other classes, so even at the industry level it is hard to generalise. What can we say about patterns of innovation, then? For one thing, we would expect that the pattern of change in leadership would reflect the dominant oligopoly model for the ...
Ambiguity and Public Good Provision in large
... others is lower. If the bene…t of a donation is a concave function of total donations, then the perceived marginal bene…t of a donation will be increased. This tends to increase individual donations and hence total provision of the public good. In this paper we present a related model of public goo ...
... others is lower. If the bene…t of a donation is a concave function of total donations, then the perceived marginal bene…t of a donation will be increased. This tends to increase individual donations and hence total provision of the public good. In this paper we present a related model of public goo ...
The Market for Illegal Goods
... to greater enforcement equals the percentage increase in total costs, and so the previous analysis fully applies. However, the evidence that ε is about –1/2 contradicts the assumption of a pure monopolistic producer, for such a producer always prices in the elastic section of the demand curve. ...
... to greater enforcement equals the percentage increase in total costs, and so the previous analysis fully applies. However, the evidence that ε is about –1/2 contradicts the assumption of a pure monopolistic producer, for such a producer always prices in the elastic section of the demand curve. ...
A theory of Bayesian decision making with action
... consistent with the tenets of Bayesian decision model mentioned above. This issue here is not purely theoretical. Karni (2008b) gives an example involving the design of optimal insurance in the presence of moral hazard, in which the insurer knows the insured’s prior preferences and assumes, correctl ...
... consistent with the tenets of Bayesian decision model mentioned above. This issue here is not purely theoretical. Karni (2008b) gives an example involving the design of optimal insurance in the presence of moral hazard, in which the insurer knows the insured’s prior preferences and assumes, correctl ...
17 A Definition of Subjective Probability with F. J. Anscombe
... proper) and physical probability (chances), especially in the former, various lesser di¤erences of meaning can be distinguished. In this paper we are concerned with the personal or subjective concept of probability, as considered by Ramsey [13] and Savage [14]. Probabilities and utilities are defined ...
... proper) and physical probability (chances), especially in the former, various lesser di¤erences of meaning can be distinguished. In this paper we are concerned with the personal or subjective concept of probability, as considered by Ramsey [13] and Savage [14]. Probabilities and utilities are defined ...
Complex Eco-economic Systems
... A systems dynamics approach can be used in modeling many systems. Outside of the mainstream system dynamics literature, some ecological economists have made use of system dynamics modeling techniques in the context of studying integrated economic ecological systems. Meadows et al. [1] used these dyn ...
... A systems dynamics approach can be used in modeling many systems. Outside of the mainstream system dynamics literature, some ecological economists have made use of system dynamics modeling techniques in the context of studying integrated economic ecological systems. Meadows et al. [1] used these dyn ...
Microeconomics
Microeconomics (from Greek prefix mikro- meaning ""small"") is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources. Typically, it applies to markets where goods or services are bought and sold. Microeconomics examines how these decisions and behaviors affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the quantity supplied and quantity demanded of goods and services.This is in contrast to macroeconomics, which involves the ""sum total of economic activity, dealing with the issues of growth, inflation, and unemployment."" Microeconomics also deals with the effects of national economic policies (such as changing taxation levels) on the aforementioned aspects of the economy. Particularly in the wake of the Lucas critique, much of modern macroeconomic theory has been built upon 'microfoundations'—i.e. based upon basic assumptions about micro-level behavior.One of the goals of microeconomics is to analyze market mechanisms that establish relative prices amongst goods and services and allocation of limited resources amongst many alternative uses. Microeconomics also analyzes market failure, where markets fail to produce efficient results, and describes the theoretical conditions needed for perfect competition. Significant fields of study in microeconomics include general equilibrium, markets under asymmetric information, choice under uncertainty and economic applications of game theory. Also considered is the elasticity of products within the market system.