Всего статей в данном разделе : 3
Опубликовано на портале: 03-05-2005Partha Dasgupta
This paper has been written for Elinor Ostrom and Toh-Kyeong Ahn, eds., Social Capital: A Reader (forthcoming, Edward Elgar, Cheltenham, UK). The idea of social capital sits awkwardly in contemporary economic thinking. Even though it has a powerful, intuitive appeal, it has proven hard to track as an economic good. Among other things, it is fiendishly difficult to measure. This isn’t because of a recognised paucity of data, but because we don’t quite know what we should be measuring. Comprising different types of relationships and engagements, the components of social capital are many and varied and, in many instances, intangible.
Опубликовано на портале: 03-05-2005Benjamin E. Hermalin, Alice M. Isen University of California, Economics Working Papers. 2000. E99-270.
The standard economic model of decision making assumes a decision maker makes her choices to maximize her utility or happiness. Her current emotional state is not explicitly considered. Yet there is a large psychological literature that shows that current emotional state, in particular positive affect, has a significant effect on decision making, problem solving, and behavior. This paper offers a way to incorporate this insight from psychology into economic modeling. Moreover, this paper shows that this simple insight can parsimoniously explain a wide variety of behaviors.
Опубликовано на портале: 29-04-2005Jonathan David Levin, Susan Carleton Athey Massachusetts Institute of Technology Department of Economics Working Paper Series. 2001. No. 98-24.
This paper studies decision problems under uncertainty where a decision-maker observes an imperfect signal about the true state of the world. We analyze the information preferences and information demand of such decision-makers, based on properties of their payoff functions. We restrict attention to "monotone decision problems," whereby the posterior beliefs induced by the signal can be ordered so that higher actions are chosen in response to higher signal realizations. Monotone decision problems are frequently encountered in economic modeling. We provide necessary and sufficient conditions for all decision makers with different classes of payoff functions to prefer one information structure to another. We also provide conditions under which two decision-makers in a given class can be ranked in terms of their marginal value for information and hence information demand. Applications and examples are given.