Managerial economics

About: Managerial economics is a research topic. Over the lifetime, 1524 publications have been published within this topic receiving 83965 citations.

IS ECONOMICS A SCIENCE? A discussion of some methodological issues

Abstract: The aim of this article is to review some central ideas on economic methodology. Many people doubt whether economics can be considered as science. This sort of doubts does not exist, for instance, with respect to physics or chemistry. The main conclusion is that economics is a science inasmuch as it formulates falsifiable theories. However, the peculiarity that distinguishes it from, for instance, natural sciences, is that theories, in most cases, cannot actually in practice be falsified. Economists face very serious difficulties to test their theories because of the complexity of the subject matter and because of the presence of a lot of disturbances. So, as Hausman asserts, they are right in trusting more in the implications deduced from the theory's axioms than in the negative results which may emerge from empirical testing. It is very rare to see a theory disregarded because of an apparent disconfirmation. In economics there is, broadly speaking, nothing like a crucial experiment. The relationship between explanation and prediction, the role of tests and persuasion in economics, the use of mathematics, the relationship between economic theory and applied economics as well as other methodological issues are reviewed. Given economics's peculiarities it does not seem reasonable to judge its scientific character on the basis of its ability to use the methods and procedures of the experimental sciences. It seems more reasonable to analyze how to satisfy the scientific method requirements taking into consideration its particularities as a social science.

Managing new technology: economics research and practical decisions.

Abstract: Rapidly advancing health technology poses problems for managers. Although clear conceptual frameworks exist for economic evaluation, in practice severe problems remain in carrying out timely research that is locally appropriate to the needs of managers. This paper explores some of these problems in the context of the policy analysis interface between economic research and the management of technology. In the light of experience gained from recent evaluation research it indicates how researchers and managers can each contribute to the provision of a stronger empirical basis for policy making and policy management. An earlier version of this paper was presented at the joint meeting of the Health Economists Study Group and Institute of Health Service Management, University of York, 6-8 July 1987. The author would like to thank Christopher Spry and Mike Drummond for helpful comments.

Contribution, attribution and the assignment of intellectual property rights in economics

Abstract: Purpose – Within the area of economics, the value attached to highly‐ranked journal publications, such as the American Economic Review, Journal of Political Economy and Quarterly Journal of Economics, in tenure, promotion, and merit pay processes is often several times greater than that of second‐tier publications, such as Economic Inquiry and the Southern Economic Journal. As a result, one would expect that author(s) will put forth relatively more production “effort” in order to gain acceptance in a top‐tier journal. The additional production effort may come in the form of making the manuscript available to a larger number of outside readers, perhaps via seminars and conferences. This study aims to examine whether the economics research production process differs between top‐ and second‐tier journal outlets.Design/methodology/approach – Data are collected from feature articles published in two top‐tier and two second‐tier economics journals for the period 1995‐1999, inclusive. Means difference tests on v...