Economics is not considered the most successful scientific discipline, to say the least. There are various lines of critique of the field, some more justified than others. Two recent research papers attempt to add new angles to this methodological discussion, arguing that economic models can be useful and serve society in ways that differ from the classical view of science.
Households are notoriously unsophisticated investors, with low financial literacy; and yet, banks (...)
In a paper that focuses on trade agents’ beliefs about potential market transactions, Itzhak Gilboa (...)
Uncertainty accompanies most individual and collective decisions. Given the unknown probabilities (...)
Habit, genetic factors, socieconomic background, wealth, standards of living, family size, (...)
How do you get competitive markets when firms that sell an end product control the means of (...)