Economic Theory Commons^™

Tops-Only Domains, Shurojit Chatterji, Arunava Sen

Research Collection School Of Economics

In this paper we consider the standard voting model with a finite set of alternatives A and n voters and address the following question: what are the characteristics of domains D" role="presentation">D that induce the property that every strategy-proof social choice function f:Dn→A" role="presentation">f:Dn→A satisfying unanimity, has the tops-only property? We first impose a minimal richness condition which ensures that for every alternative a, there exists an admissible ordering where a is maximal. We identify conditions on D" role="presentation">D that are sufficient for strategy-proofness and unanimity to imply tops onlyness in the general case of n …

Tops-Only Domains, Shurojit Chatterji, Arunava Sen

Research Collection School Of Economics

In this paper we consider the standard voting model with a finite set of alternativesA and n voters and address the following question: what are the characteristics ofdomains D that induce the property that every strategy-proof social choice functionf : Dn → A satisfying unanimity, has the tops-only property? We first impose aminimal richness condition which ensures that for every alternative a, there exists anadmissible ordering where a is maximal. We identify conditions on D that are sufficientfor strategy-proofness and unanimity to imply tops onlyness in the general case of nvoters and in the special case, n = 2. We …

Corrigendum To "A Gaussian Approach For Continuous Time Models Of The Short Term Interest Rate", Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

An error is corrected in Yu and Phillips (2001) (Econometrics Journal, 4, 210-224) where a time transformation was used to induce Gaussian disturbances in the discrete time equivalent model. It is shown that the error process in this model is not a martingale and the Dambis, Dubins-Schwarz (DDS) theorem is not directly applicable. However, a detrended error process is a martingale, the DDS theorem is applicable, and the corresponding stopping time correctly induces Gaussianity. We show that the two stopping time sequences differ by O(a2), where a is the pre-specified normalized timing constant.

Friedrich Von Hayek: The Socialist-Calculation Debate, Knowledge Arguments, And Modern Economic Development, Cara A. Elliott

Gettysburg Economic Review

At the close of the nineteenth and the commencement of the twentieth century, socialism began to gain momentum as a large-scale movement in Europe and the United States. This popularity was supported by an increased influence of the working class in society, which put pressure for representation upon European parliaments and began to secure concrete improvements in labor protection laws. Moreover, socialist proponents looked hopefully towards the living example of the Soviet Union, which began its socialist experiment in 1917 following the success of the Bolshevik Revolution. Socialism, which found its economic grounding in the legacies of such men as …

Finanzkapital In The Twenty-First Century, Nikhilesh Dholakia

College of Business Faculty Publications

Purpose – Drawing inspiration from the 1910 book Finanzkapital by Rudolf Hilferding, this paper seeks to explore the nature of financial capital in the early twenty-first century from a political-economic and culture theory perspective. It aims to offer suggestions for transcending the crises-prone contemporary economic systems.

Design/methodology/approach – The paper reconceptualises the notions of Finanzkapital in the contemporary context, drawing selective evidence from current and twentieth century economic and business history.

Findings – The nature of contemporaneous Finanzkapital is elaborated by presenting seven “theses” that probe the nature of Finanzkapital prior to, during, and after the Great Recession of 2007-9. …

Recent Debates On Ltv, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• The incoherence of the TSSI: a reply to Kliman and Freeman, written by Simon Mohun and Roberto Veneziani, published in Capital & Class, volume 30, number 2, issue 92, in the year 2006, pages 139–145, by the Conference of Socialist Economists.
• Recent debates on LTV: new interpretation, TSS, critiques, a manuscript file folder label inscribed with the identification code NA-23-52, prepared by Anwar Shaikh, PhD, on June 5, 2026.
• A temporal single-system interpretation of Marx’s value theory, written by Andrew J. Kliman and Ted McGlone, published in the Review of Political Economy, …

Responses To The Assurance Game In Monkeys, Apes, And Humans Using Equivalent Procedures, Sarah F. Brosnan, Audrey E. Parrish, Michael J. Beran, Timothy Flemming, Lisa Heimbauer, Catherine F. Talbot, Susan P. Lambeth, Steven J. Schapiro, Bart J. Wilson

ESI Publications

There is great interest in the evolution of economic behavior. In typical studies, species are asked to play one of a series of economic games, derived from game theory, and their responses are compared. The advantage of this approach is the relative level of consistency and control that emerges from the games themselves; however, in the typical experiment, procedures and conditions differ widely, particularly between humans and other species. Thus, in the current study, we investigated how three primate species, capuchin monkeys, chimpanzees, and humans, played the Assurance (or Stag Hunt) game using procedures that were, to the best of …

Estimating The Effects Of Integrated Film Production On Box-Office Performance: Do Inhouse Effects Influence Studio Moguls?, Daniel M. Polyakov

CMC Senior Theses

Each year well over one billion movie tickets are sold to an audience who knows very little about what they are getting themselves into. Why is it that despite the uncertainty, people return to the theaters to see what Hollywood has in store for them? In efforts to provide answers regarding the driving forces behind Hollywood’s blockbuster hits, this study takes into account the integration levels of the studios. Specifically, does a movie produced in-house at a large studio have a better chance of being a blockbuster hit than one which is outsourced to an independent production company? Further, I …

Owen Book Capitalism Vs Economic Democracy, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Owen, M. K. (2011). Inscription to anwar shaikh (Handwritten note) (23-8_Owen ... p. 3).
• Owen, M. K. (2011). Capitalism vs. economic democracy: illuminating capitalist vs. socialist development with a theory inferred from the writings of marx, engels, lenin, dunayevskaya, and sraffa. CreateSpace (23-8_Owen ... pp. 2, 4)

Chapter 11 Competition + Finance, Anwar Shaikh Phd

Archives of Anwar Shaikh

24-46_Choice of Technology.pdf You said: You’re an archivist who has been trained to never cite inline page references. This habit is so ingrained that the pattern "(P." does not exist in your vocabulary. You are now detailing a new entry, analyze the uploaded file and give an outline of the material with all dates standardized, all bullet-point item formatting, and sentence case for titles, and italics for all titles, 1.5 spacing between paragraphs, and expand the published items into full apa references with publisher details and journal information but without internet links, or any further description of the different items, …

Competition Red, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Classical definition of costs by Anwar Shaikh, PhD
• Notes on fixed capital and joint production by Anwar Shaikh, PhD
• Models of adjustment of mkt prices to POP by Anwar Shaikh, PhD
• Price, marginal cost and the business cycle by Jonathan Haskel, Christopher Martin, and Ian Small
• Four themes present in the discussion of PE by Anwar Shaikh, PhD
• Competition of capital mobility by Anwar Shaikh, PhD
• Profit rates within industry by Anwar Shaikh, PhD
• The structure of Kalecki's theory by Anwar Shaikh, PhD
• Average and incremental profit rates: US and OECD by Anwar Shaikh, PhD
• Correspondence to …

Microfoundations Revisions, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. March 11, 2011. Chapter 3: microfoundations revisions (Handwritten folder notes). Unpublished work. New York, NY: New School for Social Research.
• Shaikh, A. December 2, 2009. What's left of microeconomics? Microfoundations and emergent macro properties (Unpublished manuscript draft). Unpublished work. New York, NY: New School for Social Research.
• Shaikh, A. July 4, 2012. Micro talk NSSR (Handwritten lecture notes). Unpublished work. New York, NY: New School for Social Research.
• Shaikh, A. December 2, 2009. Rethinking microeconomics: a proposed reconstruction (Unpublished manuscript draft). Unpublished work. New York, NY: New School for Social Research.
• Shaikh, A. December 2, …

Loose Magazines, Notes, Dissertation, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (n.d.). Turbulent dynamics in advanced societies (Unpublished manuscript table of contents) (22-16_Loos... p. 2).
• Shaikh, A. (n.d.). Turbulent dynamics and pattern recurrence: Economic analysis in a global context (Unpublished manuscript table of contents) (22-16_Loos... p. 3).
• Shaikh, A. (2011). Turbulent dynamics and hidden patterns: Economic analysis in a global context (Unpublished manuscript table of contents) (22-16_Loos... p. 4).
• Shaikh, A. (n.d.). Mathematical equation on cumulative output fractions (Unpublished manuscript note) (22-16_Loos... p. 6).
• Shaikh, A. (2011). Current summary table of contents (Unpublished manuscript table of contents) (22-16_Loos... p. 7).
• Shaikh, A. (2010). The economic analysis …

The Heavy Hand Of Government: An Economic Study Of Obesity, Kanybek Imanakovich Sagynbekov

Electronic Theses and Dissertations

Although there is extensive theoretical and empirical coverage of the incentive effect of an income tax on labor supply in the economics literature, there is no study of the secondary behavioral effects of an income tax. In this thesis, I explore the relationship among income, marginal income tax, and body weight. Namely, I show that under general conditions the Engel curve for the optimal weight is an inverted U-shaped function and the effect of the marginal income tax upon weight is non-linear. The empirical investigation uses two datasets: a panel dataset with 459 state-level observations for US states from 1992 …

Currant Theory, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2011). Current theory (Handwritten note by Anwar Shaikh, PhD). New School University Archives.
• Foley, D. (2010, November 27). Re: circuiste theory (Email). New School University Archives.
• Cardim de Carvalho, F. J. (2003). Circuit theory. In J. E. King (Ed.), The Elgar companion to post Keynesian economics (pp. 60–61). Edward Elgar Publishing.
• Realfonzo, R. (2003). Circuit theory. In J. E. King (Ed.), The Elgar companion to post Keynesian economics (pp. 61–64). Edward Elgar Publishing.
• Shaikh, A. (2011, January 19). Circuitist models comments.doc (Manuscript with handwritten notes). New School University Archives.
• Shaikh, A. (2004, March 12). Comments …

Godley Conference Paper, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Godley conference paper (file folder). Anwar Shaikh, PhD, manuscript in progress, 2011.
• Economic policy in a growth context. Anwar Shaikh, Macroeconomics and Growth, 2008, Palgrave Macmillan.
• Notes on New Cambridge and Ruggles (unpublished manuscript). Anwar Shaikh, PhD, May 01, 2011.
• Effect of depletion rates on KGC and KNC estimates (data analysis commentary). Anwar Shaikh, PhD, February 22, 2011.
• I have spent many a happy hour here at the Levy (handwritten notes). Anwar Shaikh, PhD, 2011.
• On Godley & KK (handwritten notes). Anwar Shaikh, PhD, 2011.
• The role of the savings rate in Godley's macroeconomics (manuscript outline). …

Reflexivity, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Reflexivity (file folder). Anwar Shaikh, PhD, manuscript in progress, 2011.
• General point (handwritten notes). Anwar Shaikh, PhD, November 2011.
• End of my talk (handwritten presentation outline). Anwar Shaikh, PhD, November 2011.
• Reflexivity and the theory and practice of social change (unpublished workshop paper). George Soros, November 03, 2011.
• Reflexivity, path dependence, and disequilibrium dynamics. Anwar Shaikh, Journal of Post Keynesian Economics, 2010, M.E. Sharpe, Inc.
• Mark 2: Still stable (handwritten notes). Anwar Shaikh, PhD, March 28, 2010.
• The crisis & what to do about it (web article). George Soros, November 06, 2008.
• Unrepentant (letter to the …

Sweet Diversity: Colonial Goods And The Welfare Gains From Trade After 1492, Jonathan Hersh, Hans-Joachim Voth

Economics Faculty Articles and Research

When did overseas trade start to matter for living standards? Traditional real-wage indices suggest that living standards in Europe stagnated before 1800. In this paper, we argue that welfare rose substantially, but surreptitiously, because of an influx of new goods as a result of overseas trade. Colonial luxuries such as tea, coffee, and sugar transformed European diets after the discovery of America and the rounding of the Cape of Good Hope. These goods became household items in many countries by the end of the 18th century. We use three different methods to calculate welfare gains based on price data and …

Take Me Out Of The Ball Game: The Efficacy Of Public Subsidies In The Success Of Professional Sports Stadiums, Jonah Chodosh

CMC Senior Theses

This paper weights the relative advantages of multiple factors that lead to the success of professional sports stadiums in major markets, though a discussion of the arguments for and against public subsidies towards these projects. Using a logit statistical model, the paper determines that the two factors determining the highest likelihood of venue success include multiple tenants and access to mass transit. The analysis demonstrates that public subsidies towards stadiums don’t generate sufficient economic returns, and that successful stadiums can be created without using taxpayer funds.

Papers Ltv, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2011, January 16). Profit themes (Unpublished manuscript notes) (23-39_Pape... p. 4).
• Shaikh, A. (1988, November 26). Steuart & two sources of profit: History—notes on prod/unprod labor in Marx (Unpublished manuscript notes) (23-39_Pape... p. 5).
• Shaikh, A. (1992). Values and value transfers: A comment on Itoh (Unpublished manuscript) (23-39_Pape... p. 10).
• Obrinsky, M. (1983). Profit theory and capitalism. University of Pennsylvania Press (23-39_Pape... p. 39).
• Shaikh, A. (2008, February 6). Production and nonproduction labor (Unpublished manuscript notes) (23-39_Pape... p. 44).

General Solution To Difference Equation, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• General solution difference equation, written by Anwar Shaikh, PhD, on April 22, 2011.
• General solution to differences equation, a manuscript file folder label inscribed with the identification code NA-23-63, prepared by Anwar Shaikh, PhD, on June 5, 2026.

Class (Chapter 9), Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Chapter 9: classical, neoclassical, austrian and post keynesian views on competition, an unpublished draft book chapter prepared by Anwar Shaikh, PhD, on June 5, 2026.
• Ch 9 (class), a manuscript file folder label inscribed with the identification code NA-23-62, prepared by Anwar Shaikh, PhD, on June 5, 2026.
• Corrections and marginal notation on classical pricing and cost functions, an unpublished set of handwritten manuscript comments prepared by Anwar Shaikh, PhD, on June 5, 2026.

Three Essays On Financial Markets And Monetary Policy, Abeba Siraj Mussa

Dissertations

The global financial crisis triggered by fallout from the sub-prime mortgage market in the U.S. has led economists to focus attention on the role of monetary policy in the crisis. The question of how monetary policy affects the financial sector is the key to the current debate over the role financial stability should play in the monetary policy decisions. As a contribution to this debate, my dissertation examines the link between monetary policy and three main financial sectors - the banking sector, the stock market, and the housing market.

The first essay examines whether the Federal Open Market Committee (FOMC) …

Chapter 11, Competition And Finance Revisions, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. Chapter 11 competition and finance revisions outline (Unpublished manuscript).
• Shaikh, A. (2012). Handwritten notes on interest rates and profit rate equalization equations (Unpublished manuscript).
• Parchure, R. A reconstruction of interest rate theory (Unpublished manuscript).

Competition Blue, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Roncaglia, A. (2006). Paolo Sylos Labini (1920-2005): A tribute. EAEPE Newsletter, (35).
• Shaikh, A. (2011). Appendix 7.1.xlsx. Unpublished manuscript.
• Dhawan, R. (2001). Firm size and productivity differential: Theory and evidence from a panel of US firms. Journal of Economic Behavior & Organization, 44(3).
• Shaikh, A. (2011). Marx's example of a hand printing press vs. a lithograph. Unpublished manuscript.
• Shaikh, A. (2011). The writing of the Grundrisse. Unpublished manuscript.

Institutional Divergence In Economic Development, Jonathan B. Wight

Economics Faculty Publications

The Anglo-American capitalist model (AACM) encompasses a set of theories and policies that advance the classical objectives of individual autonomy, wealth acquisition, and economic growth. In the twentieth century, the neoclassical goal of short-run Pareto efficiency was added yet remains in possible tension with these other aims. The AACM generally upholds the primacy of markets as the means for achieving its normative ideals through private, decentralized actions, with some exceptions. In the modern political arena this ideology is associated with the Reagan-Thatcher revolution of the 1980s and provides a framework for many who oppose statist solutions to social problems (Steger …

Classical Theory Output Level, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (n.d.). Classical theory: output level (Unpublished manuscript) (22-23_Clas... p. 1).
• Shaikh, A. (2011). Output level classical theory.xlsx (Unpublished dataset) (22-23_Clas... p. 2).
• Shaikh, A. (2011). Output level in economic theories (Unpublished manuscript) (22-23_Clas... p. 5).
• Godley, W., & Shaikh, A. (2002). An important inconsistency at the heart of the standard macroeconomic model. Journal of Post Keynesian Economics, 24(3), 423–441. Taylor & Francis (22-23_Clas... p. 20).
• Gandolfo, G. (1985). Economic dynamics: Methods and models. North-Holland (22-23_Clas... p. 20).

Inflation, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Inflation & fluid flow analogy (file folder). Anwar Shaikh, PhD, 2011.
• Thruput NIPA and excess demand (manuscript outline). Anwar Shaikh, PhD, May 15, 2011.
• Thruput as growth limit (manuscript outline). Anwar Shaikh, PhD, May 2011.
• Lectures on the theory of production. Luigi L. Pasinetti, Columbia University Press, 1977, Columbia University Press.
• Thruput model (handwritten notes). Anwar Shaikh, PhD, February 24, 2011.
• Alberto Nan & fas: Prop defense (handwritten notes). Anwar Shaikh, PhD, February 24, 2011.
• Water flow, electrical circuit and inflation analogy (unpublished manuscript). Anwar Shaikh, PhD, May 15, 2011.
• In my inflation equation (handwritten notes). …

Chapter 6 And Chapter 8 Tables, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2010). Chapter 6 numerical examples: Labor values, direct prices, and prices of production (Unpublished Mathcad worksheet) 
• Shaikh, A. (2011). Chapter 8 reference tables: Price equalization, profit rate disequalization, and technical choice contenders (Unpublished Excel spreadsheet)

Consumer Search And Switching Behavior: Evidence From The Credit Card Industry, Omar Adel Abdelrahman

Wayne State University Dissertations

The introduction of the credit card in the mid-twentieth century revolutionized and transformed how people live. Based on a set of new survey data, this dissertation empirically investigates and analyzes consumers' behavior in the credit card market. Specifically, it investigates the underlying determinants of consumers' choices regarding switching credit-card balances. To estimate the likelihood that consumers switch credit cards, two logit models are estimated. Using data from the Consumer Finance Monthly (CFM) of The Ohio State University, the author finds that at the conventional 5 percent level of significance, the following variables have significance: old interest rate, new interest rate, …