We introduce well-known microeconomics productivity measures in Solow models discrete time or continuous by adopting a Luenberger-type approach. In each framework, we derive the indicators and dynamical paths. First, show that expression of are similar to residuals, allowing us make an analogy between firm's behavior microeconomic setting country's macroeconomic setting. Second, demonstrate pro...

A few decades ago macroeconomics was a field of its own. Now there is an understanding that macroeconomics should have explicit micro foundations. This project aims to look into several traditional arenas of macroeconomics from the microeconomics standpoint. Specifically, we focus on the role of imperfect information and bounded rationality for the real business cycle, growth, and money.

This paper describes an alternative paradigm, “contextual economics,” which is being developed, initially, in the form of an introductory microeconomics textbook. This paradigm gives special attention to the goals of economic actors and of the discipline of economics; and to the physical and the social/psychological contexts within which economies function. © 2001 URPE. All rights reserved.

Operator monotone functions play an important role in economics. We show that 2-monotonicity is equivalent to decreasing relative risk premium, a notion recently introduced in microeconomics. We also show that an operator monotone function is risk vulnerable, a notion introduced by Gollier and Pratt.

We compare sparse and dense representations of predictive models in macroeconomics, microeconomics, finance. To deal with a large number possible predictors, we specify prior that allows for both variable selection shrinkage. The posterior distribution does not typically concentrate on single model, but wide set often include many predictors.

Computational mechanism design brings together the concern in microeconomics with decision making in the context of distributed private information and self-interest and the concern in computer science with computational and communication complexity. In constructing mechanisms, with application to the design of electronic markets and to protocols for automated negotiation, many new issues arise...

In recent years, major research advances have taken place in the intersection of computer science and economics, but this material has so far been taught primarily at the graduate level. This paper describes a novel semester-long undergraduate-level course in the intersection of computer science and economics at Duke University, titled “CPS 173: Computational Microeconomics.”

This article presents an approach to generalized convex duality theory based on Fenchel-Moreau conjugations; in particular, it discusses quasiconvex conjugation and duality in detail. It also describes the related topic of microeconomics duality and analyzes the monotonicity of demand functions.

Computational mechanism design brings together the concern in microeconomics with decision making in the context of distributed private information and self-interest and the concern in computer science with computational and communication complexity. In constructing mechanisms, with application to the design of electronic markets and to protocols for automated negotiation, many new issues arise...

A set of equilibrium states in a system consisting of economic agents, economic reservoirs, and firms is considered. Methods of irreversible microeconomics are used. We show that direct sale/purchase leads to an equilibrium state which depends upon the coefficients of supply/demand functions. To reach the unique equilibrium state it is necessary to add either monetary exchange or an intermediat...