On custom in economics: the case of humanism and trade regimes
Humanism is an example of an idea that can have economic significance. The Humanism of the Low Countries contributed to the development of trade in the 16th century, and the rise in prosperity of that region. Non-discrimination, reciprocity, hospitality norms, and voluntary exchange helped Dutch traders in their efforts in Japan and the east coast of Africa. The Dutch were able to establish non-violent trade, which was cheaper than the Spanish form of trade, which involved fighting. Political change and rent-seeking led to the demise of the Humanist trade project.
Publication Name: Journal of Institutional & Theoretical Economics
The positive economics of methodology
The truth probability of a theory depends on the known and assumed abilities of the formulating scientist and the research methodology. An economic approach to methodology shows that "theorize first" theory has a higher truth probability because of the assumed positive abilities, especially if the theory is confirmed, of the scientist based on his willingness to theorize first. In comparison, the "look first" theory has a lesser degree of truth probability because it questions the abilities of the scientist.
Publication Name: Journal of Economic Theory
The simple economics of Easter Island: a Ricardo-Malthus model of renewable resource use
A model of population and renewable resource dynamics is derived to analyze the rise and fall of Easter Island. It is shown that changes in human behavior, technology and environment can lead to feast and famine cycles which may, in turn, cause conflicts over the decreasing resources. It is also argued that economic declines due to diminishing natural resources have been experienced by civilizations such as the Maya and Anasazi.
Publication Name: American Economic Review
- Abstracts: Money and interest rates: the effects of temporal aggregation and data revisions. Explaining the term structure of interest rates: a panel data approach
- Abstracts: The decision to rate or not to rate: the case of municipal bonds. Market power, wage rate, and systematic risk: a homogeneous production function approach
- Abstracts: Technology policy in the 1990s: old trends and new realities. Trends and motives of organizational change in Hungarian industry - a synchronic view
- Abstracts: Occupational sex segregation in Britain, 1979-89: the persistence of sexual stereotyping. The rise and persistence of rigidities
- Abstracts: Labor's influence on the balance of the USA's merchandise accounts