In 1974 an article appeared in Science magazine with the dry-sounding title “Judgment Under Uncertainty: Heuristics and Biases” by a pair of psychologists who were not well known outside their discipline of decision theory. In it Amos Tversky and Daniel Kahneman introduced the world to Prospect Theory, which mapped out how humans actually behave when faced with decisions about gains and losses, in contrast to how economists assumed that people behave. Prospect Theory turned Economics on its head by demonstrating through a series of ingenious experiments that people are much more concerned with losses than they are with gains, and that framing a choice from one perspective or the other will result in decisions that are exactly the opposite of each other, even if the outcomes are monetarily the same. Prospect Theory led cognitive psychology in a new direction that began to uncover other human biases in thinking that are probably not learned but are part of our brain’s wiring.

Thinking fast and slow.

NUDGE: IMPROVING DECISIONS ABOUT HEALTH, WEALTH, AND HAPPINESS by Richard H. Thaler and Cass R. Sunstein Penguin Books, 2009, 312 pp, ISBN 978-0-14-311526-7This book is best described formally as a general explanation of and advocacy for libertarian paternalism, a term coined by the authors in earlier publications. Informally, it is about how leaders, systems, organizations, and governments can nudge people to do the things the nudgers want and need done for the betterment of the nudgees, or of society. It is paternalism in the sense that "it is legitimate for choice architects to try to influence people's behavior in order to make their lives longer, healthier, and better", (p. 5) It is libertarian in that "people should be free to do what they like - and to opt out of undesirable arrangements if they want to do so", (p. 5) The built-in possibility of opting out or making a different choice preserves freedom of choice even though people's behavior has been influenced by the nature of the presentation of the information or by the structure of the decisionmaking system. I had never heard of libertarian paternalism before reading this book, and I now find it fascinating.Written for a general audience, this book contains mostly social and behavioral science theory and models, but there is considerable discussion of structure and process that has roots in mathematical and quantitative modeling. One of the main applications of this social system is economic choice in investing, selecting and purchasing products and services, systems of taxes, banking (mortgages, borrowing, savings), and retirement systems. Other quantitative social choice systems discussed include environmental effects, health care plans, gambling, and organ donations. Softer issues that are also subject to a nudge-based approach are marriage, education, eating, drinking, smoking, influence, spread of information, and politics. There is something in this book for everyone.The basis for this libertarian paternalism concept is in the social theory called "science of choice", the study of the design and implementation of influence systems on various kinds of people. The terms Econs and Humans, are used to refer to people with either considerable or little rational decision-making talent, respectively. The various libertarian paternalism concepts and systems presented are tested and compared in light of these two types of people. Two foundational issues that this book has in common with another book, Network of Echoes: Imitation, Innovation and Invisible Leaders, that was also reviewed for this issue of the Journal are that 1 ) there are two modes of thinking (or components of the brain) - an automatic (intuitive) process and a reflective (rational) process and 2) the need for conformity and the desire for imitation are powerful forces in human behavior. …

Nudge: Improving Decisions about Health, Wealth, and Happiness

Public Management Reform. A Comparative Analysis

The Theory of Monopolistic Competition.

Preface Introduction: The Decline of Confidence in Government Joseph S. Nye, Jr. PART ONE: The Scope and Performance of Government The Evolving Scope of Government Ernest R. May Measuring the Performance of Government Derek Bok Fall from Grace: The Public's Loss of Faith in Government Gary Orren PART TWO: The Menu of Explanations Is It Really the Economy Stupid? Robert Z. Lawrence Social and Cultural Causes of Dissatisfaction with U.S. Government Jane Manbridge The Polarization of American Parties and Mistrust of Government David C. King The Politics of Mistrust Richard E. Neustadt PART THREE: Data on Public Attitudes toward Governance Changing Attitudes in America Robert J. Blendon, John M. Benson, Richard Morin, Drew E. Altman, Mollyann Brodie, Mario Brossard, And Matt James Postmaterialist Values and the Erosion of Institutional Authority Ronald Inglehart Public Trust and Democracy in Japan Susan J. Pharr Conclusion: Reflections, Conjectures, and Puzzles Joseph S. Nye, Jr., and Philip D. Zelikow Notes Contributors Index

Why people don't trust government

Vertical Bragg grating mirrors are realized by the anisotropic etching of Si using deep reactive ion etching (DRIE), thus producing multiple vertical interfaces between Si and air. The Bragg mirrors are used to realize two optical filter configurations. The first is a tunable Fabry-Peacuterot cavity composed of two mirrors, where tuning is achieved by moving one of the mirrors using silicon-on-insulator (SOI) electrostatic microelectromechanical system (MEMS) actuation. The second is a drop filter, where a tilted Bragg mirror acts as a wavelength selective reflector. The enhanced etching process involving a mix of cryogenic and Bosch DRIE processes is presented. The realized structures, fabrication process, as well as measured performance are also presented

Free-Space Tunable and Drop Optical Filters Using Vertical Bragg Mirrors on Silicon

https://halshs.archives-ouvertes.fr/halshs-01091725/document

Public-private partnerships from budget constraints: Looking for debt hiding?☆

Our paper aims at developing an analysis of the European competition law enforcement dynamics based on an economics of conventions' framework. We question the ordoliberal theoretical foundations of the EU competition policy and we assess to what extent the implementation of a "more economic approach" might pertain to a convention inspired by the Chicago School normative views. We question the economic history, the history of economics thought, and the legal history as we consider that the European courts case law is the main driving force of conventional shifts in matter of competition law enforcement.

Towards an Economics of Convention-based Approach of the European Competition Policy

This article conducts a detailed analysis of the concept of economic dependence and exploitative abuse based on how their treatment in competition law and economics and their enforcement in European case law have evolved. Although the theoretical roots of these concepts lie in economic theory, these issues have been ignored or considered only scantily in the context of competition law enforcement. An effects-based approach should take these problems into account and could provide insights into how to portray the impacts of these abuses. We draw on two examples – from the agri-food industries and the digital economy – of relevant economic dependence issues. This paper highlights the existence of a paradox: although industrial organization models provide relevant tools to characterize these abuses, assess their effects, and devise remedies, it seems that they are seldom used by competition law enforcers. JEL Classification: K21, L12, L40, L42

https://www.cairn-int.info/load_pdf.php?ID_ARTICLE=E_REDP_292_0261&download=1

Exploitative Abuse and Abuse of Economic Dependence: What Can We Learn from an Industrial Organization Approach?

In this article, we use a history of economic thought perspective to analyze the process by which the Chicago School of Antitrust emerged in the 1950s and became dominant in the US. We show the extent to which economic objectives and theoretical views shaped antitrust laws in their inception. After establishing the minor influence of economics in the promulgation of U.S. competition laws, we then highlight U.S. economists' very cautious views about antitrust until the Second New Deal. We analyze the process by which the Chicago School developed a general and coherent framework for competition policy. We rely mainly on the seminal and programmatic work of Director and Levi (1956) and trace how this theoretical paradigm was made collective, i.e. the 'economization' process took place in US antitrust. Finally, we discuss the implications, if not the possible pitfalls, of such a conversion to economics-led competition law enforcement.

Frédéric Marty

Papers

Free-Space Tunable and Drop Optical Filters Using Vertical Bragg Mirrors on Silicon

Public-private partnerships from budget constraints: Looking for debt hiding?☆

Towards an Economics of Convention-based Approach of the European Competition Policy

Exploitative Abuse and Abuse of Economic Dependence: What Can We Learn from an Industrial Organization Approach?

When Economics Met Antitrust: The Second Chicago School and the Economization of Antitrust Law