New Essentials of Economic Theory III. Economic Applications

New Theory of Economic Progress

1 ©Meir Kohn 2014 CHAPTER 1. A NEW THEORY OF ECONOMIC PROGRESS Discussion of the lack of economic development in much of the world often begins by asking, “Why can’t they be more like us?”—us being the developed nations. What is it they lack? A common answer is that they lack the necessary resources: if we just pour enough money into the underdeveloped world, it will develop. However, developme...

On economic applications of evolutionary game theory

Evolutionary games have considerable unrealized potential for modeling substantive economic issues. They promise richer predictions than orthodox game models but often require more extensive speci®cations. This paper exposits the speci®cation of evolutionary game models and classi®es the possible asymptotic behavior for one and two dimensional models.

8890 Economic Theory , Applications and Issues

Reviews linear break-even analysis as typically outlined in textbooks on managerial economics. It is claimed that a major shortcoming of these expositions is their failure to demonstrate in what circumstances linear break-even analysis is relevant for a business and in what circumstances it is inapplicable. This article helps rectify this situation. It points out that such analysis can not be a...

Economic Crisis and Economic Theory

Two dynamic general equilibrium economies compete in explaining the United States’interwar business cycles. Despite the demand driven contender’s slight advantages, the results remain too close to call a clear winner.

Emotions in Economic Theory and Economic Behavior