The discipline of economics has developed principles, theories, and
models that isolate the most important determinants of economic events.
In constructing a model, economists make assumptions to eliminate unnecessary
detail to reduce the complexity of economic behavior. Once
modeled, economic behavior may be presented as a relationship between
dependent and independent variables. The behavior being explained is
the dependent variable; the economic events explaining that behavior are
the independent variables.
Chapter 22 - Behavioral economics and modern economic policy. After reading this chapter, you should be able to: Explain the relationship between behavioral economic policy and mechanism design; define nudge and choice architecture and explain how they are related to behavioral economic policy; discuss the problems of implementing nudges and how the behavioral economic frame changes how policy is viewed.
Tài liệu về kinh tế học pháp luật. Tài liệu bằng tiếng Anh, mời các bạn cùng tham khảo. Economic analysis of law usually proceeds under the assumptions of neoclassical
economics. But empirical evidence gives much reason to doubt these
assumptions; people exhibit bounded rationality, bounded self-interest, and
bounded willpower. This article offers a broad vision of how law and economics
analysis may be improved by increased attention to insights about actual
To an economist, a contract is an agreement under which two parties make reciprocal
commitments in terms of their behavior - a bilateral coordination arrangement. Of course,
this formulation touches on the legal concept of the contract (a meeting of minds creating
effects in law), but also transcends it.
Discuss how incentives af fect people’s behavior
The word economy comes from the Greek word for “one who manages a household.” At first, this origin might seem peculiar. But, in fact, households and economies have much in common. A household faces many decisions.
Reviewed in The Wall Street Journal, this book demonstrates how astrology can be used to forecast business and market activity. Written by a former manager for a New York utility company, this book has been publicly lauded by a number of brokers.
Conversations, especially with people in business, are often very fruitful. Commerce
is conducted in many ways, and most of them have never been subjected to a serious
economic analysis. Of course you have to be careful not to believe everything you hear|
people in business usually know a set of rules that work well for running their own business,
but they often have no idea of where these rules come from or why they work, and this is
really what economists tend to nd interesting.
In this paper, we explore the economic effect of the ECE industry in California. We first provide an
overview of the industry in California, describing characteristics of the workforce, costs for parents,
and the availability of public dollars to assist low-income families needing child care.
Tham khảo sách 'why people buy things they don't need understanding and predicting consumer behavior (2004)', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả
Human Behavior and the Social Environment content views human development and behavior from a person in environment perspective and includes theories and knowledge focusing on the interactions between and among individuals, groups, societies and economic systems.
Dymski’s work also identified at an early stage the class- and race-based
strategies of the major banks and mortgage-originators as they laid their traps for
the meager assets of the poor. It raises, inevitably, the question of responsibility.
And this brings us to an important line of new research, focused on economic
behavior and the law, and specifically on the conditions that generate epidemics of
In this area a key references isWilliam K.
Chapter 5 - Theory of consumer behavior. In this chapter, you learned to: Explain the concept of utility and the basic assumptions underlying consumer preferences; explain the equilibrium condition for an individual consumer to be maximizing utility subject to a budget constraint; use indifference curves to derive a demand curve for an individual consumer;...
To stress the salience and urgency of the national situation
as dictated by contemporary terrorism and to
underscore the need for behavioral and social science
understandings of that situation are to pronounce the
self-evident. Terrorism, already recognized by some as the
looming form of international conflict in the late twentieth century,
moved dramatically to center stage on September 11, 2001,
and promises to occupy national attention for decades.
In this chapter you will learn that economics is about the allocation of scarce resources, examine some of the tradeoffs that people face, learn the meaning of opportunity cost, see how to use marginal reasoning when making decisions, discuss how incentives affect people’s behavior...
In this chapter we examine the behavior of competitive firms, such as your local gas station. After completing this chapter, students will be able to learn what characteristics make a market competitive, examine how competitive firms decide how much output to produce, examine how competitive firms decide when to shut down production temporarily,...
In this chapter we discuss the types of imperfect competition and examine a particular type called oligopoly. Our goal in this chapter is to see how this interdependence shapes the firms’ behavior and what problems it raises for public policy.
Chapter 7 - Consumer behavior. In this chapter, you will see how individual consumers allocate their incomes among the various goods and services available to them. Given a certain budget, how does a consumer decide which goods and services to buy? This chapter will develop a model to answer this question. This chapter will also survey some of the recent insights about consumer behavior provided by the field of behavioral economics.
In chapter 8 we will investigate the economic forces by which the invisible hand of the marketplace guides profit-seeking firms and satisfaction-seeking consumers in ways that, to a surprising degree, serve society’s ends. These forces encourage aggressive cost cutting by firms, even though the resulting gains will eventually take the form of lower prices rather than higher profits.
In this chapter, you will learn to: Describe the role of financial intermediaries, differentiate between bonds and stocks and show why their prices are inversely related to interest rates, explain how the financial system improves the allocation of saving to productive uses, discuss the three functions of money and how the money supply is measured, analyze how the lending behavior of commercial banks affects the money supply, explain how the central bank controls the money supply and its relation to inflation in the long run.
In this chapter, we addressed the issue of fearing monopoly power in the business world from a systematic, analytical perspective. One of the most important conclusions from this analysis is that bigness, by itself, is not a good predictor of the types of behavior one might expect from monopolies.