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Full-Text Articles in Social and Behavioral Sciences

Agent-Based Computational Economics: Overview And Brief History, Leigh Tesfatsion Mar 2021

Agent-Based Computational Economics: Overview And Brief History, Leigh Tesfatsion

Economics Working Papers

Scientists seek to understand how real-world systems work. Models devised for scientific purposes must always simplify reality. However, scientists should be permitted to tailor these simplifications to purposes at hand; they should not be forced to distort reality in specific predetermined ways in order to apply a modeling approach. Adherence to this modeling precept was a key goal motivating my development of Agent-Based Computational Economics (ACE), a variant of agent-based modeling characterized by seven specific modeling principles. This perspective provides an overview of ACE and a brief history of its development.


The Effect Of The 1918 Influenza Pandemic On U.S. Life Insurance Holdings, Dr. Joanna Short Oct 2019

The Effect Of The 1918 Influenza Pandemic On U.S. Life Insurance Holdings, Dr. Joanna Short

Economics: Faculty Scholarship & Creative Works

This paper examines the effect of a sharp rise in mortality, the 1918 influenza epidemic, on life insurance holdings in the U.S. The BLS Cost of Living Surveys of 1918-1919 provide a unique opportunity to examine the effect of the pandemic—some households were surveyed before, and others during or shortly after the worst of the influenza outbreak. In addition, I use state-level insurance sales data to compare the increase in spending on insurance in states particularly hard hit by the epidemic, relative to those that were not. I find some evidence that, in the immediate aftermath of the ...


Networks Of Survival In Kinshasa, Mumbai, Detroit, And Comparison Cities; An Empirical Perspective, Beryl S. Powell Feb 2018

Networks Of Survival In Kinshasa, Mumbai, Detroit, And Comparison Cities; An Empirical Perspective, Beryl S. Powell

Ph.D. Dissertations (Open Access)

People in impoverished cities, for example in Kinshasa, lend small quantities of food to neighbors when requested, to prevent starvation. In Mumbai, they share their living space with others who are homeless. In Detroit, churches and the Detroit Urban League have helped poor residents to obtain jobs, meals, and housing. Rather than mere self-interest, this expression of generosity is an outstanding human quality. Networks of survival also include the lessons of history, good economic and political policies, human rights, equal opportunity, and culture.


Adam Smith On The Future Of Experimental Evolution And Economics, Maria Pia Paganelli Jan 2018

Adam Smith On The Future Of Experimental Evolution And Economics, Maria Pia Paganelli

Economics Faculty Research

Experimental evolution is difficult to apply to humans because of the need to study possible changes over many generations. A similar method, though, may see history as a substitute for experiments. The 18th century economist Adam Smith uses methods compatible with the logic of experimental evolution, through the assumption of human homogeneity and the study of history, to explain endogenous variations of preferences and institutions.


The Price Revolution In The Ottoman Context: Economic Upheaval In The Sixteenth Century, Dylan Lawrence Russell Jun 2017

The Price Revolution In The Ottoman Context: Economic Upheaval In The Sixteenth Century, Dylan Lawrence Russell

Middle Eastern Communities and Migrations Student Research Paper Series

The inflationary pressures of the Price Revolution had an impact on Ottoman agricultural organization, state finances, industry, and the growth of corruption. This analysis will examine the causes, effects, and scope of inflation in the sixteenth century. Inflation alone did not cause these drastic changes, as other very significant developments also contributed to the turbulent economic environment. However inflation did, in fact, influence many basic transformations, including shifts in wealth, power, and the enrichment of specific social classes at the expense of others.


How To Fly A Horse: The Secret History Of Creation, Invention, And Discovery (Book Review), Kevin Timmer Sep 2016

How To Fly A Horse: The Secret History Of Creation, Invention, And Discovery (Book Review), Kevin Timmer

Faculty Work Comprehensive List

Reviewed Title: How to Fly a Horse: The Secret History of Creation, Invention, and Discovery by Kevin Ashton. New York: Doubleday, 2015. 336 pages. ISBN: 9780385538596.


Defending A Mixed Economy, Herbert J. Hovenkamp May 2016

Defending A Mixed Economy, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

This essay reviews Jacob S. Hacker's and Paul Pierson's very engaging book, American Amnesia: How the War on Government Led Us to Forget what Made America Prosper (2016).


Part 8: Liberty University: A Higher Education Phenomenon, Center For Economic Analysis And Policy, Old Dominion University Jan 2016

Part 8: Liberty University: A Higher Education Phenomenon, Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Christian-centered Liberty University has a combined on-campus and online enrollment of more than 100,000 students and has accumulated an endowment of $1.4 billion. The university’s long-term aspiration is to be considered in the same breath as Notre Dame is for Roman Catholics and Brigham Young is for Mormons.


The Thailand Report: National Landscape, Current Challenges And Opportunities For Growth, Institute For Societal Leadership, John W. Ellington, Serene Chen Jun 2015

The Thailand Report: National Landscape, Current Challenges And Opportunities For Growth, Institute For Societal Leadership, John W. Ellington, Serene Chen

Institute of Societal Leadership Research Collection

Thai migrants first began trickling into the Chao Phraya river valley from Southern China in the eleventh century. Thai chieftains established petty kingdoms in modern-day Myanmar, Thailand and Laos, initially as tributaries to more established Burmese and Khmer rulers. However, both the diminishing influence of the Khmer Empire and the Mongols’ sacking of the Burmese capital Bagan in 1287 left a political vacuum in mainland Southeast Asia, which was soon filled by Thai kingdoms such as Sukhothai (1238–1463), Chiang Mai (1296–1775), Ayutthaya (1351–1767) and eventually Bangkok (f. 1 782). In the process, the up-and-coming Thai polities supplanted ...


Gold Mining And Economic And Social Change In West Africa, Michael Kevane Jun 2015

Gold Mining And Economic And Social Change In West Africa, Michael Kevane

Economics

Economic theory often suggests that social institutions are strongly influenced by specific geographic features of regions. The history of gold mining in West Africa, however, suggests that the relationship between mineral resources and social organization is complex and fluid. First, over the centuries gold mining revenues may have encouraged state formation, but at the same time opportunities for conflict and corruption may have undermined state functioning. Second, while gold extraction and trade required social organization, the interpersonal relationships engendered by gold mining also led to new identities and social institutions. These dialectical considerations illustrate how simple theories of how geography ...


The Vietnam Report: National Landscape, Current Challenges And Opportunities For Growth, Institute For Societal Leadership, John W. Ellington Mar 2015

The Vietnam Report: National Landscape, Current Challenges And Opportunities For Growth, Institute For Societal Leadership, John W. Ellington

Institute of Societal Leadership Research Collection

Although most of Southeast Asia is home to religions and cultures carrying significant Indic influence, Vietnam alone is the mainland’s only Sinicised culture. Chinese emperors directly ruled northern Vietnam for most of the period spanning 111 BCE to 938 CE. The next eight hundred years saw a series of independent Vietnamese kingdoms administered by Chinese-style mandarins gradually extend control over and supplant the Indic Champa civilisation to the south—even as French incursions began chipping away at Vietnamese territory as early as 1858.


The Birth Of The U.S. Federal Reserve, Richard A. Naclerio Jan 2015

The Birth Of The U.S. Federal Reserve, Richard A. Naclerio

History Faculty Publications

On November 16, 2014 the United States Federal Reserve celebrated the centennial of its organization. Its one hundred year legacy has left no doubt of its vast monetary control, its far-reaching geopolitical power, and its enigmatic secrecy. These defining features of the Fed remain a mirror of the men who created it. Wall Street barons and ambitious politicians vied for control over shaping the U.S. Federal Reserve to the specifications that suited the needs of both their country and themselves.

This paper covers men like Senator Nelson Aldrich, J.P. Morgan, Jacob Schiff, and Paul M. Warburg, who were ...


Syllabus: Introduction To Permaculture, Lisa Depiano Jan 2015

Syllabus: Introduction To Permaculture, Lisa Depiano

Sustainability Education Resources

The Permaculture Design Course is a three-credit course that offers students a foundation in permaculture history, ethics, principles, design process, and practical applications. The framework behind the theory and practice of permaculture is rooted in the observation of natural systems. By observing key ecological relationships, we can mimic and apply these beneficial relationships in the design of systems that serve humans while helping to restore the natural world. This course trains students as critical thinkers, observers, and analysts of the world(s) around them, and then goes on to provide students with the tools needed to design for inspired and ...


The Dili Report: National Landscape, Current Challenges And Opportunities For Growth, Institute For Societal Leadership, Lai Cheng Lim Dec 2014

The Dili Report: National Landscape, Current Challenges And Opportunities For Growth, Institute For Societal Leadership, Lai Cheng Lim

Institute of Societal Leadership Research Collection

Timor-Leste, Asia’s newest nation, is located in Southeast Asia, on the southernmost edge of the Indonesian archipelago. The country was colonised by the Portuguese for over 450 years, occupied by the Indonesians for 24 years and administered by the United Nations for two and a half years. As a nation, Timor-Leste has had a very traumatic birth.


Using Census Bureau Data For Current And Historical Gis Research, Bert Chapman Apr 2014

Using Census Bureau Data For Current And Historical Gis Research, Bert Chapman

Libraries Faculty and Staff Presentations

Provides examples of how geographic information system (GIS) data can be used to conduct historical and contemporary research using Census Bureau data and mapping and other resources. Such data and mapping can enhance understanding of historical and contemporary subjects in a multidisciplinary variety of topics.


How Foreign Firms Transformed Ireland’S Domestic Economy, Paul Donnelly Nov 2013

How Foreign Firms Transformed Ireland’S Domestic Economy, Paul Donnelly

Articles

Today, Ireland is host to 1,033 multinational corporations. They directly employ 152,785 and account for 70 per cent or €122.5bn of exports. It’s a story that has its roots in the 1940s.


Paul M. Warburg: Founder Of The United States Federal Reserve, Richard A. Naclerio May 2013

Paul M. Warburg: Founder Of The United States Federal Reserve, Richard A. Naclerio

History Faculty Publications

The name Paul Moritz Warburg is synonymous with the founding of the Federal Reserve System. Over the years preceding the formation of the Federal Reserve, Warburg wrote many essays and gave many public addresses on banking reform. His reform ideas were modeled on the central banking systems of many European counties he dealt with through the family business M.M. Warburg.


A Matter Of Scale: Assessing The Great Recession Against The Great Depression, Steven L. Danver Nov 2012

A Matter Of Scale: Assessing The Great Recession Against The Great Depression, Steven L. Danver

Center for General Education Publications

The Great Depression of the 1930s and the Great Recession of the late 2000s are compared using economic, social, and political measures to determine if the later economic downturn was as much of a bellwether event as its predecessor.


Finding Historic Indiana Documents In An Online Environment: Civil War Era And Later 19th Century, Bert Chapman Nov 2011

Finding Historic Indiana Documents In An Online Environment: Civil War Era And Later 19th Century, Bert Chapman

Libraries Research Publications

This presentation provides information on digitally accessing historic Indiana State and U.S. Government documents from the latter half of the 19th century. Examples of these resources include the periodical Indiana Farmer, Indiana Civil War Governor Oliver Morton's telegraph books, the Official Records of the War of the Rebellion, Indiana Adjutant General Reports, and the Brevier Indiana Law Reports covering Indiana General Assembly proceedings. These collections have been digitized by various Indiana libraries including Purdue University, IUPUI, and Indiana University. Accessing these primary source materials will enable users to gain augmented understanding ot the economic, military, and political issues ...


What's Wrong With Economics? It Ignores The Pogo Principle: "We Have Met The Enemy And He Is Us", Jerry Evenesky Jun 2011

What's Wrong With Economics? It Ignores The Pogo Principle: "We Have Met The Enemy And He Is Us", Jerry Evenesky

Economics - Faculty Scholarship

The piece begins with the proposition that the economic perspective on human activity must reflect the fact that human beings transact in a world defined for the actors by social norms. An analysis of the crisis of 2008 is offered as a demonstration of the value of adopting such a broader perspective. Part two offers a historical model based on Adam Smith’s Moral Philosophy of such a broader analysis. The piece closes with the case that the history of ideas offers alternative perspectives on the questions we explore in economics today and thus can serve as a valuable resource ...


Part 5: Whro Marks It's 50th Anniversary, Regional Studies Institute, Old Dominion University Jan 2011

Part 5: Whro Marks It's 50th Anniversary, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

Virginia’s first educational, noncommercial television station has become a multimedia leader. Like most major media, however, WHRO lives in a rapidly evolving environment that could challenge its existence.


Coase, Institutionalism, And The Origins Of Law And Economics, Herbert J. Hovenkamp Jan 2011

Coase, Institutionalism, And The Origins Of Law And Economics, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Ronald Coase merged two traditions in economics, marginalism and institutionalism. Neoclassical economics in the 1930s was characterized by an abstract conception of marginalism and frictionless resource movement. Marginal analysis did not seek to uncover the source of individual human preference or value, but accepted preference as given. It treated the business firm in the same way, focusing on how firms make market choices, but saying little about their internal workings.

“Institutionalism” historically refers to a group of economists who wrote mainly in the 1920s and 1930s. Their place in economic theory is outside the mainstream, but they have found new ...


Coasean Markets, Herbert J. Hovenkamp Aug 2010

Coasean Markets, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Coase’s work emphasized the economic importance of very small markets and made a new, more marginalist form of economic “institutionalism” acceptable within mainstream economics. A Coasean market is an association of persons with competing claims on a legal entitlement that can be traded. The boundaries of both Coasean markets and Coasean firms are determined by measuring not only the costs of bargaining but also the absolute costs of moving resources from one place to another. The boundaries of a Coasean market, just as those of the Coasean business firm, are defined by the line where the marginal cost of ...


Part 6: Destination Of Choice: The Virginia Aquarium & Marine Science Center, Regional Studies Institute, Old Dominion University Jan 2010

Part 6: Destination Of Choice: The Virginia Aquarium & Marine Science Center, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

Despite attracting 700,000 visitors annually, the Aquarium is not familiar to many people. We examine the Aquarium and outline its role in the economic development of a key area of Virginia Beach.


The Evolution Of Copyright Law In The Arts, Kevin Liftig Dec 2009

The Evolution Of Copyright Law In The Arts, Kevin Liftig

Honors Scholar Theses

As digital storage of intellectual goods such as literature and music has become widespread, the duplication and unlicensed distribution of these goods has become a frequent source of legal contention. When technology for production and replication of intellectual goods advanced, there were disputes concerning the rights to produce and duplicate these works. As new technologies have made copies of intellectual goods more accessible, legal institutions have largely moved to protect the rights of ownership of ideas through copyright laws. This paper will examine key changes in the technology that affect intellectual property, and the responses that legal institutions have made ...


Part 8: The Chrysler Museum In 2009, Regional Studies Institute, Old Dominion University Jan 2009

Part 8: The Chrysler Museum In 2009, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

The Chrysler Museum of Art is one of the foremost cultural jewels of our region, but now faces challenges that stem both from significant economic constraints and internal reorganizations.


Critical Tax Theory: An Introduction, Anthony C. Infanti, Bridget J. Crawford Jan 2009

Critical Tax Theory: An Introduction, Anthony C. Infanti, Bridget J. Crawford

Book Chapters

Our book Critical Tax Theory: An Introduction (Cambridge University Press 2009) highlights and explains the major themes and methodologies of a group of scholars who challenge the traditional claim that tax law is neutral and unbiased. The contributors to this volume include pioneers in the field of critical tax theory, as well as key thinkers who have sustained and expanded the investigation into why the tax laws are the way they are and what impact tax laws have on historically disempowered groups. This volume will provide an accessible introduction to this new and growing body of scholarship. It will be ...


Target Saving In An Overlapping Generations Model, Brishti Guha, Ashok S. Guha Mar 2008

Target Saving In An Overlapping Generations Model, Brishti Guha, Ashok S. Guha

Research Collection School Of Economics

We examine a model in which the utility function has been engineered so that it is optimal for consumers to aim for a fixed target level of retirement resources. In this case, consumption displays excess sensitivity to current income as well as perfect old age insurance. In an overlapping generations model, this leads naturally to multiple and unstable equilibria. Under static expectations, it also leads to a well-defined dynamics, including possible historical traps, implosions involving ever-diminishing capital stock and ever-increasing interest rates, and the feasibility of optimal one-time interventions.


Target Saving In An Overlapping Generations Model, Ashok S. Guha, Brishti Guha Jan 2008

Target Saving In An Overlapping Generations Model, Ashok S. Guha, Brishti Guha

Research Collection School Of Economics

We examine a model in which the utility function has been engineered so that it is optimal for consumers to aim for a fixed target level of retirement resources. In this case consumption displays excess sensitivity to current income as well as perfect old age insurance. In an overlapping generations model, this leads naturally to multiple and unstable equilibria. Under static expectations, it also leads to a well-defined dynamics, including possible historical traps, implosions involving ever-diminishing capital stock and ever-increasing interest rates, and the feasibility of optimal one-time interventions.


Changing Maine, 1960-2010: Teaching Guide, Richard Barringer, New England Environmental Finance Center Jul 2006

Changing Maine, 1960-2010: Teaching Guide, Richard Barringer, New England Environmental Finance Center

Maine History & Policy Development

Unlike forty years ago, none of us is now certain what the future holds for Maine – except that it will be different. Maine has been transformed by the events of the recent decades. We have come into a new world, a new time – a new historical era, if you will. This new era, like previous eras in Maine history, will require of us new ways of thinking, new ways of understanding, new ways of organizing ourselves as a community of people, if the values and culture we share and cherish are to endure and flourish.