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This Element brings together the problems of economic calculation, institutional diversity, and institutional feasibility, arguing that these themes are deeply interconnected and mutually reinforcing. Building on recent developments in institutional theory, political...
Decolonization has long been debated across the social sciences, but the economics discipline has so far avoided such critical engagement. This book provides a much-needed intervention.Dutt, Alves, Kesar, and Kvangraven uncover the deeply Eurocentric foundations that...
This Element is about agent-based macroeconomics in general, and in particular about a family of evolutionary, agent-based models (ABMs), which are called 'Schumpeter meeting Keynes' (or K+S). The K+S models knit together 'Schumpeterian' endogenous processes of...
International investments yield returns in the forms of multinational profits, dividends and interest on equity and debt, and the charges on bank loans. These payments are recorded in the current account of the balance of payments and constitute a significant component...
This Element presents an analytical model for assessing the success or failure of innovative large-scale defence projects. To achieve this goal, it constructs a theoretical model based on a three-angle analysis: the International System, the innovative potential, and...
Amidst concerns about replicability but also thanks to the professionalisation of labs, the rise of pre-registration, the switch to online experiments, and enhanced computational power, experimental economics is undergoing rapid changes. They all call for efficient...
For over a generation, the collapse of communism in the Soviet Union and Eastern and Central Europe delegitimized the abolition of private property in the means of production and the practice of central planning as an effective way to achieve the ends of socialism....
This study interrogates the theoretical and empirical validities of two dominant theories about Chinese state in the post-Mao period. The authors argue that the meritocratic view has under-theorized the innate contradiction between officials' personal competence and...
The global financial system is the economic bedrock of the contemporary liberal economic order. Contrary to other global-economy areas, finance is rarely analyzed in discussions on contestations of economic liberalism. However, a quite comprehensive process of external...
Buchanan believed that individuals are fundamentally willing to cooperate with others. It was at the center of his works in public finance in the late 1940s and early 1950s, and also crucial to his work in public choice in the 1960s. The purpose of this book is to show...
*A Financial Times and Wall Street Journal Book of the Year*'My book of 2024' Alex Bastani, Novara Media'Brilliant ... deeply arresting' Lewis Goodall, The News Agents PodcastA radical examination by a leading financial analyst, commentator and investor of the ills of...
This Element introduces the replicator dynamics for symmetric and asymmetric games where the strategy sets are metric spaces. Under this hypothesis the replicator dynamics evolves in a Banach space of finite signed measures. The authors provide a general framework to...
Why are contracts incomplete? Transaction costs and bounded rationality cannot be a total explanation since states of the world are often describable, foreseeable, and yet are not mentioned in a contract. Asymmetric information theories also have limitations. We offer...
This Element examines the role of mobile banking in accessing public services in Bangladesh. It also identifies the key influencing factors and challenges in accessing public services through mobile banking and suggests policy measures to overcome these challenges....
Ludwig Lachmann is a central but underappreciated figure within the Austrian school of economics. Although his understanding of institutions, his appreciation of the heterogeneity of capital, his emphasis on subjectivity, and his focus on the dynamism and uncertainty of...
The branch of psychology that studies how physical objects are perceived by subjects is known as psychophysics. A feature of the experimental design is that the experimenter presents objectively measurable objects that are imperfectly perceived by subjects.The responses...
Archaeologists, anthropologists, and evolutionary biologists study the origins of our relationship with dogs and how it has evolved over time. Sociologists and legal scholars study the roles of dogs in the modern family. Veterinarian researchers address the relationship...
This Element provides an in-depth analysis of the role of women's ownership of and access to land in sub-Saharan Africa (SSA) in determining gender equality and women's economic and social outcomes and gives suggestions to inform effective gender-sensitive land...
Virtual economic transactions have radically transformed the way we think about trade and markets in closed and open economies. Continuous decline in costs of information and communications and setting up of phenomenally large number of virtual platforms have brought in...
A long tradition explains technological change as recombination. Within this tradition, this Element develops an innovative combinatorial model of technological change and tests it with 2,000 years of global GDP data and with data from US patents filed between 1835 and...
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