Economic Theory Commons^™

Apf, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Production function notes.docx by Anwar Shaikh, PhD
• Parable and realism in capital theory: The surrogate production function by Paul A. Samuelson
• Capital theory up to date by Joan Robinson
• Beyond the surrogate prod function by Anwar Shaikh, PhD
• Notes on John McCombie, Stefano Zambelli, and Arrigo Opocher by Anwar Shaikh, PhD
• Notes on Steven Kinsella and Antoine Godin by Anwar Shaikh, PhD
• Patnaik two good world: Machines, corn by Anwar Shaikh, PhD
• On the dismal state of a dismal science? by Heinz D. Kurz
• Economics: Principles and policy by William J. Baumol and Alan S. Blinder
• Empirical …

Referee Report & Trento Notes, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Anonymous. (2012). Referee's report on "Production, circuits of capital, and flows and stocks in national accounts" by Anwar Shaikh (Unpublished manuscript) (23-12_Refe... p. 2).
• Shaikh, A. (2012, May 24). Trento I: develop & underdevelop (Handwritten note) (23-12_Refe... p. 3).
• Shaikh, A. (2012, May 24). Trento I: develop & underdevelop, page 3 (Handwritten note) (23-12_Refe... p. 4).
• Shaikh, A. (2012, May 24). Notes on Sraffa and thought processes (Handwritten note) (23-12_Refe... p. 5).
• Institute for New Economic Thinking. (2012, April 5). Grant change form for Anwar Shaikh, grant ID: 3232 (Institutional document) (23-12_Refe... p. 7).
• Shaikh, A. (2012, …

Internal Communication In Ireland Before And During The Economic Recession From The Perspective Of Communication Practice, Technology, And Ethics, Laoise O'Murchú

Doctoral

Internal communication in Ireland from the ‘celtic tiger’ era through to the economic
recession from the perspective of: communication practice, technology and ethics.
This thesis examines the practice of internal communication in Irish public and
private sector organisations during 2007/8 and 2010. This period spans the end of
Ireland’s ‘celtic tiger’ economy and the development of a major recession. All the
case study organisations have been affected by the credit crunch and are experiencing
economic, financial and ethical challenges.
The practices of internal communication in Ireland has evaded in depth academic
examination in communications literature. Therefore, the contribution to knowledge …

Do International Corruption Metrics Matter? Assessing The Impact Of Transparency International's Corruption Perceptions Index, Omar Elemere Hawthorne

Graduate Program in International Studies Theses & Dissertations

This dissertation examines the impact of Transparency International's (TI), Corruption Perceptions Index (CPI) and whether or not the CPI and hence TI matter. It examines the impact of TI's CPI on policymakers. It explores three areas: world's political and economic responses and Jamaica's policy responses to the CPI. Jamaica is selected for a case study due to TI's high corruption perceptions index rating for the country: a country that legally has strong anti-corruption laws but, nonetheless, sees its CPI ranking worsen almost yearly.

This study comprises mixed methodologies, using both qualitative and quantitative measures to assess the impact of the …

Subreption And Institutional Inquiry: Theoretical Philosophy And Evolutionary Thinking, John B. Hall, Alexander Dunlap

Economics Faculty Publications and Presentations

With this inquiry we respond to William Dugger‘s assertion that ―[s]ubreption is one of the least studied social phenomena of the twentieth century.‖ Our research seeks to fill a gap in the literature by clarifying subreption, and its origins in Philosophy to its importance in social science, and, especially, Institutional Inquiry. We conjecture that Thorstein Veblen borrows form Immanuel Kant‘s understanding of Erschleichung. In this respect, Veblen‘s understanding and use of subreption serves as conduit between its use in Roman law, through Kant‘s understanding, and on to what Veblen later introduces as an approach creatively relied upon by three other, …

Veblen’S Predator And The Great Crisis, John B. Hall, Iciar Dominguez-Lacasa, Jutta Günther

Economics Faculty Publications and Presentations

With this inquiry we attribute cause for the current and “Great Crisis” to Veblen’s predator. After summarizing origins and manifestations of this crisis we juxtapose Veblen’s emphasis upon the predator to other potential causes for crisis and crises. Noted to have emerged when our stock of human knowledge provided for the creation of surplus, Veblen’s predator is presented as capable of metamorphosis and also driving evolution of our capitalistic system: whether this means emerging as the businessman in the “era of the machine,” or the investment banker promoting a financial metaphysics in the current “era of finance.”

Complexity, Innovation, And The Regulation Of Modern Financial Markets, Dan Awrey

Cornell Law Faculty Publications

The intellectual origins of the global financial crisis (GFC) can be traced back to blind spots emanating from within conventional financial theory. These blind spots are distorted reflections of the perfect market assumptions underpinning the canonical theories of financial economics: modern portfolio theory, the Modigliani and Miller capital structure irrelevancy principle, the capital asset pricing model and, perhaps most importantly, the efficient market hypothesis. In the decades leading up to the GFC, these assumptions were transformed from empirically (con)testable propositions into the central articles of faith of the ideology of modern finance: the foundations of a widely held belief in …

Choice Of Technology, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Park, C.-S. (2005). Testing Okishio's criterion of technical choice. Research in Political Economy, Volume 22. Elsevier Ltd.
• Duménil, G., & Lévy, D. (2005). Testing for the Marxian-Classical criterion of technical choice. Research in Political Economy, Volume 22. Elsevier Ltd.
• Shaikh, A. Handwritten notes on the geometric limits of technical choice (Unpublished manuscript).
• Marx, K. Typescript text on capital evaluation and machine production (Unpublished manuscript).
• Shaikh, A. Book draft excerpt on individual price-value deviations (Unpublished manuscript).
• Shaikh, A. Handwritten notes on perfect competition viability and technical change criteria (Unpublished manuscript).
• Duménil, G., & Lévy, D. Testing …

Loose Notes On Marx, Interest Rates, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (n.d.). Notes on natural deposit rate and travel itinerary to Thessaloniki (Handwritten notes) (22-32_Loos... p. 2).
• Shaikh, A. (n.d.). Notes on gold lending, bank markups, and interest rate theories (Handwritten notes) (22-32_Loos... p. 3).
• Lutz, F. A. (1968). The theory of interest. D. Reidel Publishing Company (22-32_Loos... p. 3).
• Shaikh, A. (2012). Notes on interest rates (Unpublished manuscript) (22-32_Loos... p. 14)

Finance Capital And Profits, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Theories of profit and capital by Anwar Shaikh (Unpublished manuscript, March 5, 2012)
• Finance capital and profits by Anwar Shaikh (Unpublished manuscript, January 31, 2012)
• Shaikh, A. (2012). Ape II (Unpublished handwritten notes). Anwar Shaikh, PhD
• Age-related pension incentives and retirement behavior (Unpublished manuscript fragment, unknown year)
• Lapavitsas, C., & Levina, I. (2011). Financial profit: Profit from production and profit upon alienation. Research on Money and Finance Discussion Paper Series (No. 24). Department of Economics, School of Oriental and African Studies, University of London.
• Skarstein, R. (2011). Overaccumulation of productive capital or of finance capital? A view …

Talks, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Department of Economics, University of Trento. (2012, May 23). A symposium in honour of anwar shaikh: surrogates, humbugs and other pseudo-production functions on the 50th anniversary of 'the surrogate production function' (Conference program) (23-4_Talks... p. 2). University of Trento.
• Velupillai, K. V. (2012, May 23). Welcome address (Conference presentation) (23-4_Talks... p. 2). University of Trento.
• Shaikh, A. (1964). Laws of production and laws of algebra: the humbug production function. Review of Economics and Statistics, 56(1) (23-4_Talks... p. 2). MIT Press.
• Swan, T. (1956). Economic record, vol. 32, 1956, pp. 334-361. Economic Record, 32, …

Single Peakedness And Giffen Demand, Massimiliano Landi

Research Collection School Of Economics

I provide a simple example of a single peaked utility function that generates a Giffen demand. The utility function is smooth, non piecewise defined, strictly concave but not globally increasing. A full characterization of the parameter conditions under which the Giffen demand arises is provided. In addition the properties of the demand function are studied: I find that the inferior commodity with a Giffen demand must be cheaper relatively to a substitute and that Giffen demand arises at relatively low levels of income. However it is not required that the share of income spent on that commodity be large.

Estimating The Impact Of Cell Phone Laws On Car Accident Fatalities, Odinakachi Anyanwu

Pepperdine Policy Review

No abstract provided.

Are All R&D Dollars Created Equal?: A Look At The Effect Of Federal Investment On Patent Success, Casey J. O'Neil

Pepperdine Policy Review

No abstract provided.

Interest Rates Empirical Evidence, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Gibson's paradox by Anwar Shaikh, PhD (Unpublished manuscript, June 13, 2007) (22-35_Inte... p. 4)
• Interest rate empirical patterns by Anwar Shaikh, PhD (Unpublished manuscript, June 13, 2007) (22-35_Inte... p. 9)
• Our interest rate theory by Anwar Shaikh, PhD (Unpublished manuscript, June 13, 2007) (22-35_Inte... p. 11)
• Bond arbitrage empirical test by Anwar Shaikh, PhD (Unpublished manuscript, July 20, 2007) (22-35_Inte... p. 19)
• Real long term bond prices by Anwar Shaikh, PhD (Unpublished handwritten notes, August 7, 2012) (22-35_Inte... p. 26).

Inet Grant Completion, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2012, December 9). Final grant completion report for INET grant ID #IN011-00056 and #IN012-0040 (Memorandum) (2). New School University Archives.
• Institute for New Economic Thinking. (2012, November 29). Grant award letter to Mr. Anwar Shaikh (RE: INO12-00040) (Manuscript) (3, 4). New School University Archives.
• Institute for New Economic Thinking. (2012, November 17). Grant terms and conditions agreement (Grant ID #INO12-00040) (Manuscript signed by Anwar Shaikh, PhD, with a handwritten note dated December 21, 2012) (5, 6). New School University Archives.
• Department of the Treasury, Internal Revenue Service. (2012, November 10). Request for taxpayer identification number …

Text Ch 6 Profit Capital, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2012, February 6). Theories of profit and capital (Unpublished manuscript).
• Keynes, J. M. (1976). A treatise on money. Macmillan.
• Braham, J. (2001). Sales without profits are meaningless. Business Week.
• Marx, K. (1977). Capital: A critique of political economy (Vol. 1). Vintage Books.
• Ishikura, H. (2004). Marx's circuit of capital and Keynes's monetary theory of production. Journal of Economic Studies.
• Varian, H. L. (1993). Intermediate microeconomics: A modern approach. W. W. Norton & Company.
• Shane, S. (2008). The illusions of entrepreneurship: The costly myths that entrepreneurs, investors, and policy makers live by …

Chapter 10 Price Value Revisions, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Ch. 10: Price/value revisions. NA-24-13.

• Add survey from Jefferis (attached).

• Add survey from Jeffries (attached).

• Email from Lefteris to Anwar Shaikh regarding chapter revisions and additional empirical studies. In this message, Lefteris notes that the attachment contains a summary of empirical studies from a 2010 paper with Paitaridis and that more recent papers with Theodore are already included in the references.

• Extract from Tsoulfidis and Paitaridis, “On the labor theory of value: Statistical artefacts or regularities?” This excerpt reviews empirical studies of price-value deviations and related debates.

• References for the chapter excerpt. …

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Competition (Misc.), Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Duménil, G., Glick, M., & Lévy, D. (1997). The history of competition policy as economic history. The Antitrust Bulletin, 42(2), 373–416. Federal Legal Publications, Inc.
• Shaikh, A. (2011, November 22). ECO 104: Competition [Handwritten lecture notes, 2 pages, on lined notepaper, dated November 22, 2011; covering competition between industries, summary of phenomena, and empirical findings on profit rates]. Anwar Shaikh, Ph.D., Department of Economics, New School for Social Research. [Unpublished teaching notes.]
• Treen, M. (2010, August 16). FW: [New post] Andrew Kliman and the "Neo-Ricardian" attack on Marxism, Pt 1 [Email forwarded to Anwar Shaikh from …

Replacement Investment, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. September 10, 1973. Gross stock and net stock project (Handwritten research notes). Unpublished work. New York, NY: New School for Social Research.
• Shaikh, A. September 28, 1979. Deriving current dollar stock from BLS data (Handwritten correspondence notes). Unpublished work. New York, NY: New School for Social Research.
• Shaikh, A. May 10, 1980. BLS data on Jack Faucett adjustments (Handwritten folder notes). Unpublished work. New York, NY: New School for Social Research.
• Shaikh, A. December 1, 1982. Note on retirements vs. business failure (Handwritten manuscript notes). Unpublished work. New York, NY: New School for Social Research. …

Buyer's Equilibrium With Capacity Constraints And Restricted Mobility: A Recursive Approach, Gabriele Camera, Jaehong Kim

ESI Working Papers

We study a decentralized trading model as in Peters (1984), where heterogeneous market participants face a trade-o between price and trade probability. We present a novel proof of existence of a unique demand vector in Nash equilibrium, based on a recursive approach that exploits the monotonicity of matching functions.

Building And Rebuilding Trust With Promises And Apologies, Eric Schniter, Roman M. Sheremeta, Daniel Sznycer

ESI Working Papers

Using trust games, we study how promises and messages are used to build new trust where it did not previously exist and to rebuild damaged trust. In these games, trustees made non-binding promises of investment-contingent returns, then investors decided whether to invest, and finally trustees decided how much to return. After an unexpected second game was announced, but before it commenced, trustees could send a one-way message. This design allowed us to observe the endogenous emergence and natural distribution of trust-relevant behaviors and focus on naturally occurring remedial strategies used by promise-breakers and distrusted trustees, their effects on investors, and …

Too Many Cooks Spoil The Broth: How The Tragedy Of The Anticommons Emerges In Organizations, Matthew W. Mccarter, Shirli Kopelman, Thomas A. Turk, Candace Ybarra

ESI Working Papers

In organizations, conflict often revolves around commons resources because they are critical for influence, performance, and organizational survival. Research on property rights, territoriality, and social dilemmas suggests that to reduce such conflict, organizations should facilitate the (psychological) privatization of commons resources. We complement these three literatures by drawing from the legal, organizational, and social psychology literatures to model how psychologically privatizing organizational commons resources – to prevent a tragedy of the commons (an overuse problem) – can lead to the emergence of equivalently problematic tragedy in organizations: the tragedy of the anticommons (an underuse problem). Our model contributes to these …

Experimental Evidence On The Properties Of The California’S Cap And Trade Price Containment Reserve, Rachel Bodsky, Domenic Donato, Kevin James, David Porter

ESI Working Papers

We report on a series of experiments to examine the properties of California’s Reserve Sale allocation mechanism to be implemented as part of the forthcoming cap and trade program and compare it with an alternative reserve sale mechanism. The proposed reserve sale mechanism allows covered entities to purchase allowances after the primary auction sale at fixed prices. If demand for units is greater the amount supplied in the reserve sale, a Proportional Rationing rule is used to distribute allowances based on submitted request for units. This rule is contrasted with to an alternative rule, Equal Rationing in which allowances are …

Information Effects In Multi-Unit Dutch Auctions, Joy A. Buchanan, Steven Gjerstad, David Porter

ESI Working Papers

We design a multi-unit descending-price (Dutch) auction mechanism that has applications for resource allocation and pricing problems. We address specific auction design choices by theoretically and experimentally determining optimal information disclosure along two dimensions. Bidders are either informed of the number of bidders in the auction, or know that it is one of two possible sizes; they also either know the number of units remaining for sale or are unaware of how many units have been taken by other bidders. We find that revealing group size decreases bids, and therefore revenue, if units remaining are not shown. When group size …

Do Liars Believe? Beliefs And Other-Regarding Preferences In Sender-Receiver Games, Roman M. Sheremeta, Timothy W. Shields

ESI Working Papers

We examine subjects‟ behavior in sender-receiver games where there are gains from trade and alignment of interests in one of the two states. We elicit subjects‟ beliefs, risk and other-regarding preferences. Our design also allows us to examine the behavior of subjects in both roles, to determine whether the behavior in one role is the best response to the subject‟s own behavior in the other role. The results of the experiment indicate that 60 percent of senders adopt deceptive strategies by sending favorable message when the true state of the nature is unfavorable. Nevertheless, 67 percent of receivers invest conditional …

Are You A Good Employee Or Simply A Good Guy? Influence Costs And Contract Design, Brice Corgnet, Ismael Rodriguez-Lara

ESI Working Papers

We develop a principal–agent model with a moral hazard problem in which the principal has access to a hard signal (the level of output) and a soft behavioral signal (the supervision signal) about the agent's level of effort. In our model, the agent can initiate influence activities and manipulate the behavioral signal. These activities are costly for the principal as they detract the agent from the productive task. We show that the agent's ability to manipulate the behavioral signal leads to low-powered incentives and increases the cost of implementing the efficient equilibrium as a result. Interestingly, the fact that manipulation …

Trade, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Trade, compiled by Anwar Shaikh, containing working papers, lecture notes, correspondence, and handwritten research notes on international trade, exchange rates, comparative and absolute advantage, purchasing power parity, and trade balances. The materials date from 2005 through 2012 and are associated with Anwar Shaikh’s research and teaching at the New School for Social Research in New York.
• Trade classical equations, Anwar Shaikh, 2012-05-07. Unpublished manuscript.
• Classical trade theory, Anwar Shaikh, 2001-10-24, revised 2008-10-07. Unpublished manuscript.
• Competition, exchange rates, and trade balances, Anwar Shaikh, undated. Unpublished manuscript.
• Automatic trade balance is a “doctrinaire delusion”, …

An Economic Perspective On Preemption, Keith N. Hylton

Faculty Scholarship

This Essay has two goals. The first is to present an economic theory of preemption as a choice among regulatory regimes. The optimal regime choice model is used to generate specific implications for the court decisions on preemption of products liability claims. The second objective is to extrapolate from the regime choice model to consider its implications for broader controversies about preemption.