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Essays in Positive Economics
TLDR
In this paper, Newman's critical blast blows like a north wind against the more pretentious erections of modern economics, however a healthy and invigorating blast, without malice and with a sincere regard for scientific objectivity.Abstract:
"Stimulating, provocative, often infuriating, but well worth reading." Peter Newman, "Economica" "His critical blast blows like a north wind against the more pretentious erections of modern economics. It is however a healthy and invigorating blast, without malice and with a sincere regard for scientific objectivity." K.E. Boulding, "Political Science Quarterly" "Certainly one of the most engrossing volumes that has appeared recently in economic theory." William J. Baumol, "Review of Economics and Statistics""read more
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Social Structure and Competition in Interfirm Networks: The Paradox of Embeddedness
TL;DR: In this article, the authors develop one of perhaps multiple specifications of embeddedness, a concept that has been used to refer broadly to the contingent nature of economic action with respect to cognition, social structure, institutions, and culture.
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Economic Reform and the Process of Global Integration
TL;DR: The World Trade Organization (WTO) was established by agreement of more than 120 economies, with almost all the rest eager to join as rapidly as possible as mentioned in this paper, and the agreement included a codification of basic principles governing trade in goods and services.
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The theory and practice of corporate finance: Evidence from the field
TL;DR: The authors survey 392 CFOs about the cost of capital, capital budgeting, and capital structure and find some support for the pecking-order and trade-off capital structure hypotheses but little evidence that executives are concerned about asset substitution, asymmetric information, transactions costs, free cash flows, or personal taxes.
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Being There: Putting Brain, Body, and World Together Again
TL;DR: Clark as mentioned in this paper argues that the mental has been treated as a realm that is distinct from the body and the world, and argues that a key to understanding brains is to see them as controllers of embodied activity.
Posted Content
A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets
TL;DR: The authors developed a two-factor model of the term-structure which implies that a linear combination of any two rates can be used as a proxy for the central tendency, based on which they estimate the one-month rate which performs better than models which assume the central tendency to be constant.