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Applied economics

About: Applied economics is a(n) research topic. Over the lifetime, 7241 publication(s) have been published within this topic receiving 210597 citation(s). more


Open accessBook
01 Jan 1920-
Abstract: The Economics of Welfare occupies a privileged position in economics. It contributed to the professionalization of economics, a goal aggressively and effectively pursued by Pigou's predecessor and teacher Alfred Marshall. The Economics of Welfare also may be credited with establishing welfare economics, by systematically analyzing market departures and their potential remedies. In writing The Economics of Welfare, Pigou built a bridge between the old and the new economics at Cambridge and in Britain. Much of the book remains relevant for contemporary economics. The list of his analyses that continues to play an important role in economics is impressive. Some of the more important include: public goods and externalities, welfare criteria, index number problems, price discrimination, the theory of the firm, the structure of relief programs for the poor, and public finance. Pigou's discussion of the institutional structure governing labor-market operations in his Wealth and Welfare prompted Schumpeter to call the work "the greatest venture in labor economics ever undertaken by a man who was primarily a theorist." The Economics of Welfare established welfare economics as a field of study. The first part analyzes the relationship between the national dividend and economic and total welfare. Parts II and III link the size of the dividend to the allocation of resources in the economy and the institutional structure governing labor-market operations. Part IV explores the relationship between the national dividend and its distribution. In her new introduction, Nahid Aslanbeigui discusses the life of Pigou and the history of The Economics of Welfare. She also discusses Pigou's theories as expressed in this volume and some of the criticisms those theories have met as well as the impact of those criticisms. The Economics of Welfare is a classic that repays careful study. more

Topics: Applied economics (68%), Schools of economic thought (67%), Mainstream economics (66%) more

5,141 Citations

Open accessPosted Content
Abstract: This book brings together in one place the work of one of our most respected economic theorists, on a field which he has played a large part in originating: the New Institutional Economics. Transaction cost economics, which studies the governance of contractual relations, is the branch of the New Institutional Economics with which Oliver Williamson is especially associated. Transaction cost economics takes issue with one of the fundamental building blocks in microeconomics: the theory of the firm. Whereas orthodox economics describes the firm in technological terms, as a production function, transaction cost economics describes the firm in organizational terms, as a governance structure. Alternative feasible forms of organization--firms, markets, hybrids, bureaus--are examined comparatively. The analytical action resides in the details of transactions and the mechanisms of governance. Transaction cost economics has had a pervasive influence on current economic thought about how and why institutions function as they do, and it has become a practical framework for research in organizations by representatives of a variety of disciplines. Through a transaction cost analysis, The Mechanisms of Governance shows how and why simple contracts give way to complex contracts and internal organization as the hazards of contracting build up. That complicates the study of economic organization, but a richer and more relevant theory of organization is the result. Many testable implications and lessons for public policy accrue to this framework. Applications of both kinds are numerous and growing. Written by one of the leading economic theorists of our time, The Mechanisms of Governance is sure to be an important work for years to come. It will be of interest to scholars and students of economics, organization, management, and law. more

Topics: Transaction cost (67%), New institutional economics (66%), Applied economics (63%) more

4,106 Citations

Open accessBook
01 Jan 1954-
Abstract: At the time of his death in 1950, Joseph Schumpeter was working on his monumental History of Economic Analysis. Unprecedented in scope, the book was to provide a complete history of economic theory from Ancient Greece to the end of the second world war. A major contribution to the history of ideas as well as to economics, History of Economic Analysis rapidly gained a reputation as a unique and classic work. As well being an economist, Schumpeter was a gifted mathematician, historian, philosopher and psychologist and this is reflected in the multi-disciplinary nature of his great endeavour. Topics addressed include the techniques of economic analysis, contemporaneous developments in other sciences and the sociology of economics. This inclusiveness extends to the periods and individuals who figure in the book. As well as dealing with all of the major economists from Adam Smith to Maynard Keynes, the book considers the economic writings of Plato and Aristotle, of the Medieval Scholastics and of the major European economists. Throughout, Schumpeter perceived economics as a human science and this is reflected in a volume which is lucid and insightful throughout. more

Topics: Schools of economic thought (60%), History of economic thought (58%), History of ideas (56%) more

4,104 Citations

Book ChapterDOI: 10.1007/978-3-642-51565-1_86
Abstract: The identification of sellers and the discovery of their prices is given as an example of the role of the search for information in economic life. more

Topics: Applied economics (80%), Managerial economics (74%), Consumer economics (70%) more

3,567 Citations

Open accessBook
01 Jan 1982-
Abstract: Part 1 The structure of complex systems: Causal ordering - causality in economic models causal ordering, comparative statics, and near decomposability, ( with Y Iwasaki) causality and model abstraction, (with Y Iwasaki) simulating large systems - simulation of large-scale systems by aggregation prediction and prescription in systems modelling Part 2 The advance of information technology: the rural-urban population balance again the impact of electronic communications on organizations the steam engine and the computer - what makes technology revolutionary managing in an information-rich world on the alienation of workers and management Part 3 Motivation and the theory of the firm: a mechanism for social selection and successful altruism organizations and markets altruism and economics - a summary statement altruism and economics - social implications Part 4 Behaviourial economics and bounded rationality: behaviourial economics - preface to "Handbook of behaviourial economics" behaviourial economics bounded rationality satisfying empirical methods in economics - behaviourial research - theory and public policy methodological foundations of economics preface to "La theorie moderne de l'enterprise - l'approche institutionelle initial and boundary conditions in economic theory - on the behaviourial and rational foundations of economic dynamics rationality in psychology and economics the state of economic science - the failure of armchair economics why economists disagree the state of economic science economic reasoning in words and pictures - effect of mode of data presentation on reasoning about economic markets (with HJM Tabachneck) more

Topics: Schools of economic thought (62%), Applied economics (61%), Bounded rationality (60%) more

2,985 Citations

No. of papers in the topic in previous years

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Topic's top 5 most impactful authors

Roger E. Backhouse

24 papers, 451 citations

Mark Blaug

21 papers, 3.8K citations

Geoffrey M. Hodgson

21 papers, 2.2K citations

Peter Söderbaum

20 papers, 591 citations

John B. Davis

19 papers, 217 citations

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