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. …

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 …

Relationships Between Political Competition And Socioeconomic Status In The United States, Trevor K. Smith

Walden Dissertations and Doctoral Studies

Over the past 30 years there has been an increase in socioeconomic inequities between Black and White persons in the United States. Some research suggests that political ideology, which in turn impacts political competition levels, may at least partially explain these disparities, though the body of academic literature in this area is sparse. Little is known about how Black political ideology is formed by perceptions of inequality. The purpose of this study was to examine the phenomenon of Black political ideology, political competition, and socioeconomic status to determine how political competition relates to social inequities between Blacks and Whites. The …

A Business Case For Return On Investment: Understanding Organizational Change, Rya S. Henderson-Carter

Walden Dissertations and Doctoral Studies

Since 2010, 2,000 U. S. leaders spent {dollar}150 billion on return on investment (ROI) training, yet questions still exist on how to measure the benefits of organizational change. The purpose of this embedded single-case study was to explore how business leaders could use ROI to characterize the benefit of intervention strategies for organizational change. Stakeholder theory and Maslow's hierarchy of needs theory formed the conceptual framework for this study. A purposive sample of 20 civilian personnel managers located at a medical facility for veterans in central Texas participated in semistructured interviews. The 5 primary themes that emerged using thematic analysis …

Forex Trading Using Metatrader 4 With The Fractal Market Hypothesis, Jonathan Blackledge, Kieran Murphy

Conference papers

This paper reports on the results of a research and development programme concerned with the analysis of currency pair exchange time series for Forex trading in an intensive applications and services environment. In particular, we present some of the preliminary results obtained for Forex trading using MetaTrader 4 with a new set of trend indicators deigned using a mathematical model that is based on the Fractal Market Hypothesis. This includes examples of various currency pair exchange rates considered over different time intervals and use of the indicators in a live trading environment to place a buy/sell order.

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 …

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 …

Six Titans Of The Cambridge School: A Review Article, Harvey Gram

Publications and Research

Six volumes in the Great Thinker in Economics Series were chosen by the Editors for this review, which focuses on The Cambridge School of Economics, so very different from the mainstream theory of general economic equilibrium which gives formal expression to Lionel Robbins’ famous definition of the subject as the allocation of scarce means among alternative uses. In recognition of a distinct Cambridge School, the authors of these volumes present a variety of arguments within which three overlapping themes can be discerned: the relationship between ethics and economics; the role of stocks and flows in economic analysis; and the epistemic …

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 …

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).

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 …

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.

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 …

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 …

Residential Electricity Demand In Seattle, David Alan Juarez

Open Access Theses & Dissertations

This study examines residential electricity demand for the Seattle City Light (SCL) public utility market. SCL is interesting because all of its electricity is generated through hydro-electric facilities as well as its purchased power, mostly through contracts with the Bonneville Power Administration, resulting in below-average residential electricity prices. An error-correction model is estimated using annual time series data. Income, price, and climate data are used to identify both economic and seasonal effects. In addition, a customer equation is also estimated using the error-correction approach. The income-elasticity is negative indicating that electricity is an inferior good in this market. Out-of-sample forecasts …

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, …