Contents Abstract Keywords 1. Introduction 2. Preliminaries and stylized facts 3. Theoretical models 4. F r o m theory to empirical analysis 4.1. The neoclassical model: one capital good, exogenous technical progress 4.2. The neoclassical model: multiple capital goods 4.3. Endogenous growth: asymptotically linear technology 4.4. Nonconvexities and poverty traps 4.5. Endogenous growth: R&D and e...

Are there empirical anomalies upon which Dewey’s theory of action sheds better light than existing neoclassical and heterodox approaches? The introduction answers in the affirmative. They are the set of anomalies highlighted by behavioral economics. These anomalies stress the centrality of context. Neoclassical theorists react to the ‘context problematic’ by claiming that context, after all, is...

Numerical studies of the nonlinear evolution of magnetohydrodynamic–type tearing modes in three-dimensional toroidal geometry with neoclassical effects are presented. The inclusion of neoclassical physics introduces an additional free-energy source for the nonlinear formation of magnetic islands through the effects of a bootstrap current in Ohm’s law. The neoclassical tearing mode is demonstrat...

General equilibrium theory (GET) took the entire edifice of economic theory by storm during the 1950s. Its elegant existence theorems, proved by, among others, Kenneth Arrow and Gerard Debreu (1954) and Lionel McKenzie (1959), provided a framework of analysis that made more precise and sound the main intuitions of the neoclassical school. An even more important consequence of these developments...

Often considered a traditional labour intensive activity, in recent years, the solid waste management (SWM) industry has been largely interested innovation. Nonetheless, analysis of innovations SW is frequently confined to process innovation disposal segment, neglecting other kinds – such as product and organizational segments. While several economic theoretical frameworks have developed for in...

This paper summarizes neoclassical, behavioral, and neuroeconomic models of intertemporal consumption and savings behavior. I summarize the construction and implications of Modigliani & Brumberg’s Life-Cycle Hypothesis [4] and Laibson’s quasi-hyperbolic consumption function [8] as background and motivation for Bisin & Benhabib’s neuroeconomic model of dynamic consumption behavior [3]. In partic...

We propose a new multifactor model that consists of the market factor and factor mimicking portfolios based on investment and productivity motivated from neoclassical reasoning. The neoclassical three-factor model goes a long way in explaining the average returns across testing portfolios formed on momentum, financial distress, investment, profitability, net stock issues, and valuation ratios. ...

We examine a model that blends the neoclassical theory of investment with an intertemporal efficiency wage model with turnover costs. Investment decisions in capital are associated with the allocation of labor and the determination of efficiency wages. The model relates Tobin’s q to efficiency wages and, in particular, to the Solow condition. It provides a general framework to analyze firm’s in...