Hasil untuk "Economics"

Colin Camerer, Anna Dreber, Eskil Forsell et al.

Rainer Böhme, Nicolas Christin, Benjamin Edelman et al.

Mathilde Almlund, A. Duckworth, James J. Heckman et al.

This paper explores the power of personality traits both as predictors and as causes of academic and economic success, health, and criminal activity. Measured personality is interpreted as a construct derived from an economic model of preferences, constraints, and information. Evidence is reviewed about the "situational specificity" of personality traits and preferences. An extreme version of the situationist view claims that there are no stable personality traits or preference parameters that persons carry across different situations. Those who hold this view claim that personality psychology has little relevance for economics. The biological and evolutionary origins of personality traits are explored. Personality measurement systems and relationships among the measures used by psychologists are examined. The predictive power of personality measures is compared with the predictive power of measures of cognition captured by IQ and achievement tests. For many outcomes, personality measures are just as predictive as cognitive measures, even after controlling for family background and cognition. Moreover, standard measures of cognition are heavily influenced by personality traits and incentives. Measured personality traits are positively correlated over the life cycle. However, they are not fixed and can be altered by experience and investment. Intervention studies, along with studies in biology and neuroscience, establish a causal basis for the observed effect of personality traits on economic and social outcomes. Personality traits are more malleable over the life cycle compared to cognition, which becomes highly rank stable around age 10. Interventions that change personality are promising avenues for addressing poverty and disadvantage.

A. Propst, W. Deming

A new edition of a book that details the system of transformation underlying the 14 Points for Management presented in Deming's Out of the Crisis. It would be better if everyone would work together as a system, with the aim for everybody to win. What we need is cooperation and transformation to a new style of management." -from The New Economics for Industry, Government, Education In this book, W. Edwards Deming details the system of transformation that underlies the 14 Points for Management presented in Out of the Crisis. The Deming System of Profound Knowledge, as it is called, consists of four parts: appreciation for a system, knowledge about variation, theory of knowledge, and psychology. Describing the prevailing management style as a prison, Deming shows applying the System of Profound Knowledge increases productivity, quality, and people's joy in work and joy in learning. Another outcome is short-term and long-term success in the market. Indicative of Deming's philosophy is his advice to abolish performance reviews on the job, to look deeper than spreadsheets for opportunities, and even to rethink how we teach and manage our schools. Moreover, Deming's method enables organizations to make accurate predictions, which is a valuable tool in today's uncertain economic climate. This third edition features a new chapter (written by business consultant and Deming expert Kelly L. Allan) that explains the relevance of Deming's management method, and case studies from organizations that have adopted Deming's System of Profound Knowledge, and offers guidance on how organizations can effectively "do Deming."

Stefano DellaVigna

Steven D. Levitt

The purpose of this research is to examine how population-and episode-based alternative payment models affect equity in access to and outcomes for a range of surgical procedures.

D. Eastwood

Faruk Gul, Wolfgang Pesendorfer

E. Molina Grima, E. Belarbi, F. G. Acién Fernándéz et al.

Dasgupta Partha, P. David

O. Stark, D. Bloom

R. Thaler, S. Benartzi

D. Kahneman, J. Knetsch, R. Thaler

Harold L. Vogel

Part I. Introduction: 1. Economic perspectives Part II. Media-Dependent Entertainment: 2. Movie macroeconomics 3. Making and marketing movies 4. Financial accounting in movies and television 5. Music 6. Broadcasting 7. Cable 8. Publishing and New Media 9. Toys and Games Part III. Live Entertainment: 10. Gaming and wagering 11. Sports 12. Performing arts and culture 13. Amusement/theme parks Part IV. Roundup: 14. Epilogue.

J. Ioannidis, T. Stanley, Hristos Doucouliagos

S. Athey

This paper provides an assessment of the early contributions of machine learning to economics, as well as predictions about its future contributions. It begins by briefly overviewing some themes from the literature on machine learning, and then draws some contrasts with traditional approaches to estimating the impact of counterfactual policies in economics. Next, we review some of the initial “off-the-shelf” applications of machine learning to economics, including applications in analyzing text and images. We then describe new types of questions that have been posed surrounding the application of machine learning to policy problems, including “prediction policy problems,” as well as considerations of fairness and manipulability. Next, we briefly review of some of the emerging econometric literature combining machine learning and causal inference. Finally, we overview a set of predictions about the future impact of machine learning on economics.

J. McMackin, Todd H. Chiles, L. W. Lam

In this essay, we honour the memory of Oliver Williamson by reflecting on Chiles and McMackin's 1996 Academy of Management Review article ‘Integrating variable risk preferences, trust, and transaction cost economics’. The article, which built on Williamson's work in transaction cost economics (TCE), went on to attract attention not only from the authors’ home discipline of management and organisation studies, but also from other business disciplines, the professions and the social sciences. After revisiting the article's origins and core arguments, we turn to selectively (re)view TCE's development since 1996 through the lens of this article, focusing on trust, risk and subjective costs. We cover conceptual and empirical developments in each of these areas and reflect on how our review contributes to previous debates concerning trade-offs implicit in relaxing TCE's behavioural assumptions. We conclude by reflecting on key points of learning from our review and possible implications for future research.

T. Veblen, Herbert A. Simon

Conventional, neoclassical economics assumes perfectly rational agents (firms, consumers, investors) who face well-defined problems and arrive at optimal behaviour consistent with — in equilibrium with — the overall outcome caused by this behaviour. This rational, equilibrium system produces an elegant economics, but is restrictive and often unrealistic. Complexity economics relaxes these assumptions. It assumes that agents differ, that they have imperfect information about other agents and must, therefore, try to make sense of the situation they face. Agents explore, react and constantly change their actions and strategies in response to the outcome they mutually create. The resulting outcome may not be in equilibrium and may display patterns and emergent phenomena not visible to equilibrium analysis. The economy becomes something not given and existing but constantly forming from a developing set of actions, strategies and beliefs — something not mechanistic, static, timeless and perfect but organic, always creating itself, alive and full of messy vitality. Complexity economics relaxes the assumptions of neoclassical economics to assume that agents differ, that they have imperfect information about other agents and they must, therefore, try to make sense of the situation they face. This Perspective sketches the ideas of complexity economics and describes how it links to complexity science more broadly.

M. Nikolova, C. Graham