Economic Theory Commons^™

The Challenge Of Administration By Regulation: Preliminary Findings Regarding The U.S. Government's Venture Capital Funds, Jonathan G.S. Koppell

Publications from President Jonathan G.S. Koppell

This article assesses the ability of elected officials to control public policy as implemented by public/private hybrid organizations, specifically, government venture capital funds. The study reveals greater control over OPIC investment funds than Enterprise Funds despite the existence of more traditional administrative tools of control for Enterprise Funds. This finding suggests that the regulatory infrastructure for hybrid organizations is more determinative of control than the existence (or lack) of traditional administrative control tools. Thus the challenge of hybrid government centers on the development of regulation as a substitute for administration.

An Informal Review Of The Crisis Of Global Capitalism: A Letter To George Soros, Martin Zwick

Complex Systems Faculty Publications and Presentations

The author presents a review and critique of George Soros' The Crisis in Global Capiltalism, published by Public Affairs press in 1998, and attempts to draw attention to systems-theoretic ideas that pertain to the arguments proposed by Soros.

How Useful Are Forecasts Of Corporate Profits, Dean D. Croushore

Economics Faculty Publications

If forecasters predict higher earnings for corporations, the stock market will rise. Stock prices will drop with a forecast of lower earnings. But are such forecasts on the money? Dean Croushore uses data from the Survey of Professional Forecasters to check the accuracy of forecasts of corporate profits. The results show that, despite the volatility of corporate profits, the forecasts are rational.

Strategic Flexibility In Information Technology Alliances: The Influence Of Transaction Cost Economics And Social Exchange Theory, Candace Ybarra, Margarethe Wiersema

Business Faculty Articles and Research

Utilizing a model drawn from both transaction cost economics and social exchange theory, we analyze determinants of strategic flexibility in a sample of strategic alliances involved in joint development agreements or joint research pacts. Findings indicate that, in general, determinants suggested by transaction cost economics provided flexibility in modification and inflexibility in exit. From social exchange theory, trust was found to be positively related to both types of flexibility while another component of social exchange theory, dependence, was found to be negatively related to the strategic flexibility of the alliance. Results also found that factors suggested by both transaction cost …

The Fundamental And Non-Fundamental Components Of Stock Prices: The Role Of Time-Varying Expected Inflation, Maosen Zhong

Doctoral Dissertations

I derive testable implications of fundamental and non-fundamental components of stock prices. In order to control for the role of time-varying expected inflation and to be able to perform reasonable empirical tests, I use a nominal (rather than a real) interpretation of the present-value model (PVM), whereby nominal interest rates approximate expected inflation. I conjecture that the fundamental and non-fundamental components represent the permanent and temporary components of stock prices, respectively. A series of cointegration analysis over the annual period 1871–1997 confirms my conjecture for the model with time-varying expected inflation. Various fundamental and non-fundamental exclusion tests indicate that both …

The Great Transition: The Dynamics Of Market Transitions And The Case Of Russia, 1991-1995, Jeffrey K. Hass

Sociology and Anthropology Faculty Publications

The market transition in Eastern Europe and the former Soviet Union brings us back to essential issues that Marx and Weber addressed: the genesis of capitalism and the process of economic change. What is the transition and what does it involve - restructuring incentives, creating new laws, learning new culture, or creating new power structures? The answer partially depends on the particular transition (initial conditions, targets, actors' perceptions); but necessary general frameworks remain elusive, and current economic policies and analyses reveal that we understand little more about economic change than a century ago. Recent works on market transitions have furthered …

Open Eco Macro Soas, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A., PhD. (1999, Spring). Folder cover for open eco macro at SOAS [Unpublished folder cover].

• Shaikh, A., PhD. (n.d.). Table 3.4: Act. and pred. growth rates from McCombie and Thirlwall (1994, p. 251) [Unpublished chart].

• Shaikh, A., PhD. (1999, April 27). Handwritten notes for open eco macro: review [Unpublished handwritten notes].

• Shaikh, A., PhD. (n.d.). Handwritten notes titled “comparative advantage and HO” [Unpublished handwritten notes].

• Shaikh, A., PhD. (1993, April 14). Handwritten notes on free trade (Prof. Ernesto Herzberg) and “Mexico: trade, competition, and the XR” [Unpublished handwritten notes].

• Shaikh, …

Perfect Comp + Re, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (n.d.). Perfect comp and re; NA-09-34 [Folder cover]. Unpublished manuscript.

• Shaikh, A. (1999, October 4). Rational competition and p.c. [Handwritten notes]. Unpublished manuscript.

• Shaikh, A. (1990, May 15). Micro-behavioral assumptions and aggregate identities [Handwritten notes]. Unpublished manuscript.

• Shaikh, A. (1996, November 17). Rpceffd6.mcd: Simulation tracing the effects of changes in exogenous demand [Software output printout]. Unpublished manuscript.

• Shaikh, A. (1996, December 5). Rpc vs. imperfect competition [Handwritten notes]. Unpublished manuscript.

• Shaikh, A. (1997, November 14). Pcrcmod1: Simulation of the standard neoclassical macromodel [Software output printout]. Unpublished manuscript.

• Shaikh, …

Absolute Vs Comparative Advantage Xr Theory, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A., PhD. (1988). Absolute vs. comparative advantage XR theory [Unpublished handwritten title page]. Manuscript.

• Shaikh, A., PhD. (1999, December 9). Trade ratio and TOT [Unpublished handwritten notes]. Manuscript.

• Shaikh, A., PhD. (1999, December 10). Handwritten notes on trade deficit and savings referencing Blinder, Godley, Robert Lawrence, Paula Stern, Lester Thurow, C. R. D’Amato, George Becker, Ms. Wissell, and Wayne Angell [Unpublished handwritten notes]. Manuscript.

• Liu, P. C., & Burkett, P. (1995). Instability in short-run adjustments to purchasing power parity: Results for selected Latin American countries [Unpublished manuscript].

• Burkett, P. (1997, January …

Eco 204 Development Of Labor Process + Implications, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A. (1988, November). Development of labor process and implications (Eco 204) [Unpublished handwritten notes].

• Stokes, H. S. (1982, January 10). Japan’s love affair with the robot. The New York Times Magazine. New York, NY, United States: The New York Times Company.

• Shaikh, A. (1986, June). Exploitation [Unpublished manuscript].

• Shaikh, A. (1991, October 23). Theory of technical change (Eco 204) [Unpublished handwritten notes].

• Shaikh, A. (1988, November 30). Labor process: Outline (Eco 204) [Unpublished handwritten notes].

• Shaikh, A. (1987, April 15). “Choice of technique” and the falling rate of …

Internet Resource Management And Pricing, Christopher J. Clark

Theses : Honours

Originally conceived and funded as a research project, the Internet has grown into a commercial, global and integrated service network. This has changed the nature of traffic on the Internet with the increasing use of things like video conferencing and time critical transactions. These forms of Internet usage place high demands on bandwidth. Added to this is the fact that the number of users is increasing at a dramatic rate and shows no signs of slowing. This is leading to a 'tragedy of the commons' where endemic congestion will reduce the value of the Internet to everyone. It also implies …

Will The Real Adam Smith Please Stand Up?: Teaching Social Economics In The Principles Course, Jonathan B. Wight

Economics Faculty Publications

Part of the difficulty of introducing social economics into the principles course is the perception that social economics is anathema to mainstream economics. As noted by Warren Samuels, however, "neoclassical economics is already a form of social economics" despite its "pretensions of methodological individualism and value-neutrality". Heilbroner also makes the case that the " ... the preponderance of great economists were aware of economics as explanation systems of particular socio-economic formations." Like it or not, economists err in omitting from their models what McCloskey calls "S" variables--variables representing the "social embeddedness" of values which direct human choices.

Fun, Games & Economics: An Appraisal Of Game Theory In Economics, Jamus Jerome Lim

University Avenue Undergraduate Journal of Economics

Game theory has had a profound influence on many fields of the social sciences since its rise to prominence more than fifty years ago. This paper provides an overview of the main concepts in game theory and studies four main areas of its application in economic problems – oligopolistic competition, externalities & public goods, market equilibrium and general equilibrium. The conclusion is that game theory has found a natural place in economics and will continue to contribute to it for many years to come.

Bourdieu's Concept Of Social Capital : An Examination Of His Broader Theoretical Framework And The Concept's Applications And Implications For Australian Social Policy, Dawn Marie Atkin

Theses : Honours

The concept of social capital is investigated in this thesis both in its theoretical and potential social policy environment Pierre Bourdicu 's 'Theory of Practice' provides the theoretical frame within which this concept is investigated. A variety of texts, with a particular focus on Australian publications, provide the basis for further application analysis. This is primarily a textual research therefore data gathering procedures were library based. Being a theoretical analysis of the current status of social capital, as it relates to prospective social policy reform in Australia, this thesis both collates and contributes to a body of knowledge regarding the …

Estimating Profit On Carved-Out Stock Of Capital Equips, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A., PhD. (n.d.). Handwritten notes on technical change and profitability, discussing Brenner [Unpublished handwritten notes].

• Shaikh, A., PhD. (1976, February 12). Handwritten notes titled “estimating profit on carved-over stock of capital equip.” [Unpublished handwritten notes].

• Shaikh, A., PhD. (n.d.). Handwritten notes with equations for a price index [Unpublished handwritten notes].

• Shaikh, A., PhD. (1999, August). Draft paper critiquing Robert Brenner’s analysis of the long postwar economic boom and the decline in profitability (Drafts with handwritten annotations) [Unpublished manuscript drafts with handwritten annotations].

• Shaikh, A., PhD. (n.d.). Handwritten notes on Brenner’s empirical …

John Stuart Mill's Method In Principle And In Practice: A Review Of The Evidence, Samuel Hollander, Sandra J. Peart

Jepson School of Leadership Studies articles, book chapters and other publications

We believe an additional, and contrasting, interpretation of Mill’s method is supported by the evidence. For in our view Mill insisted on the possibility of theory modification in the light of inadequacies revealed by empirical evidence, and also held that the central behavioral axiom is not of universal relevance but is pertinent only to the local circumstances of contemporary Great Britain and America—and, even so, qualified as we shall see—that axiom itself is empirically based. On our reading, there is more in common between his research strategy and that of Milton Friedman than is sometimes granted, at least when Friedman’s …

(Review) The Myth Of Adam Smith, Spencer J. Pack

Economics Faculty Publications

The Myth of Adam Smith, By Salim Rashid. Cheltenham, UK: Edward Elgar, 1998. Pp. X, 227. $80.00

Xr, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A., PhD. (1999, October 7). Handwritten notes titled “int’l competitiveness: Milberg and Houston” [Unpublished handwritten notes].

• Shaikh, A., PhD. (1999, October 14). Handwritten notes titled “aggregate budget constraint (ABC),” discussing overall planned and expected demands [Unpublished handwritten notes].

• Shaikh, A., PhD. (1999, October 25). Handwritten notes titled “terms of trade and balance of trade” [Unpublished handwritten notes].

• Shaikh, A., PhD. (1999, November 4). Handwritten notes titled “arbitrage, profit rates, and interest rates” [Unpublished handwritten notes].

• Shaikh, A., PhD. (1999, November 11). Handwritten notes titled “real wage adjustment curves” [Unpublished handwritten notes]. …