Articles
Articles and analyses from the INET community on the key economic questions of our time.
Game Theory: Too Much and Too Little?
In introducing game theory (in chapters 7-9), MWG build upon the theory of rational choice by individual agents, developed previously in the book to attempt to analyze (describe, explain, and even predict?) the interactions of such agents as well as the outcomes to which they give rise. In previous chapters, MWG discuss interactions only in the form of the arms-length interactions of numerous firms and consumers in specific markets (e.g. under ‘perfect competition’, in chapters 3 and 5).
Thirteen Ways to Split a Cake*
Helicopter money as a policy option
‘Helicopter money’ may in some circumstances be the only certain way to stimulate nominal demand
Economics Needs Replication
On the difficulty of assembling a chronology and other F....moments in history of economics research
This year, I’m sharing an office with an econometrician on Mondays and with a geographer on Fridays (you don’t want to go into the subtleties of the French educational system).
History of applied economics: now what?
There is a “tendency to neglect applied economics in writing the history of economic thought,” Roger Backhouse and Jeff Biddle remarked in 2000. They then followed the “applied” trail back into the XIXth and early XXth centuries, at a time the scope and nature of economics were debatted by continental and especially British political economists
I like IKE
Great Hospitality or Chance to Innovate?
Some personal touches to hospitality at the INET conference, although I feel for the people who have been holding that sign all day.
Kuhn vs Lakatos: it is not the institute of anything goes...
In his opening remarks, Robert Johnson said that this “is not the institute of anything goes” with INET now getting to a point where it needs to stop criticising the mainstream and should instead “create a new vision.”
Russia to the Rescue of Cyprus?
How Do We Get Out of This Mess?
That’s the question that Adair Turner, Chair of the UK Financial Services Authority, was addressing in his lecture to Cass Business School this week.
Economic “fields” as historical objects (not yet)
The notion of “field” is so pervasive that economists hardly pay conscious attention to it.