Pluralism in Economics
Table of Contents Question 1: Monism versus Pluralism in Economics 4
Introduction 4
Discussion 5
Conclusion 6
References 7 Question 2: Change in Economics 8
Introduction 8
How does change come into existence? 9
Change within Accounting & Control 9
References 12 Question 3: Game theory 13
Introduction 13
Conclusions on Game theory and agency-problems 15
References 16 Question 4: Behavioral Economics 17
Introduction 17
Influences of Behavioral Economics 18
Securities Market (In)efficiency and Financial Reporting 19
Conclusions 20
References 21 Question 5: Experimental Economics 22
Introduction 22
Levitt & List versus Camerer 22
Additional insights 23
Relevance and final comments 24
References 24 Question 6: Neuroeconomics 25
Introduction 26
Economics versus psychology 27
Conclusions on Neuroeconomics 28
References 29 Question 7: Institutional Economics 29
Introduction 30
A comparison 30 Oliver Williamson 31 Elinor Ostrom 31
Relevance and conclusions 32
References 34 Question 8: The Economics of Happinness 35
Introduction 35
TED-talk Daniel Kahneman 36
Conclusions on Happiness Economics 37
References 38 Question 9: Evolutionary Economics 39
Introduction 39 Herbert Gintis 39 Geoffrey Hodgson 40
Conclusions 41
References 42 Question 10: The Noble Prize in Economics 43
Introduction 43
A plea for Richard Thaler 44
A plea against Eugene Fama 45
References 46
Question 1: Monism versus Pluralism in Economics
Some support pluralism. Others believe pluralism ought to be a transitory phase towards monism. Yet others support monism. Which argument do you find more compelling? Illustrate your point by considering a specific example from your area of specialization.
Introduction
The ideas of the neoclassical approach strongly advocated monism in economics. Eventhough the distinction between orthodoxy and heterodoxy remains unclear, it is certain that neoclassical economics is considered orthodox.
Introduction 4
Discussion 5
Conclusion 6
References 7 Question 2: Change in Economics 8
Introduction 8
How does change come into existence? 9
Change within Accounting & Control 9
References 12 Question 3: Game theory 13
Introduction 13
Conclusions on Game theory and agency-problems 15
References 16 Question 4: Behavioral Economics 17
Introduction 17
Influences of Behavioral Economics 18
Securities Market (In)efficiency and Financial Reporting 19
Conclusions 20
References 21 Question 5: Experimental Economics 22
Introduction 22
Levitt & List versus Camerer 22
Additional insights 23
Relevance and final comments 24
References 24 Question 6: Neuroeconomics 25
Introduction 26
Economics versus psychology 27
Conclusions on Neuroeconomics 28
References 29 Question 7: Institutional Economics 29
Introduction 30
A comparison 30 Oliver Williamson 31 Elinor Ostrom 31
Relevance and conclusions 32
References 34 Question 8: The Economics of Happinness 35
Introduction 35
TED-talk Daniel Kahneman 36
Conclusions on Happiness Economics 37
References 38 Question 9: Evolutionary Economics 39
Introduction 39 Herbert Gintis 39 Geoffrey Hodgson 40
Conclusions 41
References 42 Question 10: The Noble Prize in Economics 43
Introduction 43
A plea for Richard Thaler 44
A plea against Eugene Fama 45
References 46
Question 1: Monism versus Pluralism in Economics
Some support pluralism. Others believe pluralism ought to be a transitory phase towards monism. Yet others support monism. Which argument do you find more compelling? Illustrate your point by considering a specific example from your area of specialization.
Introduction
The ideas of the neoclassical approach strongly advocated monism in economics. Eventhough the distinction between orthodoxy and heterodoxy remains unclear, it is certain that neoclassical economics is considered orthodox.
References: * Benartzi, S., Previtero, A. and Thaler, R.H., 2011, Annuitization Problems, The Journal of Economic Perspectives, Vol. 25(4): p.143-164. 26-10-2012. * "Facts on the Prize in Economic Sciences". Nobelprize.org. 26 Oct 2012 http://www.nobelprize.org/nobel_prizes/economics/shortfacts.html. * Sent, E.M. (2012, October 17). Economie is nu ook psychologie. Trouw. Retrieved from: www.trouw.nl. * Sent, E.M. (03-10-2012). Evolutionary Economics. Pluralisms in Economics. Radboud University, Nijmegen. * University of Chicago, Richard Thaler. Retrieved from: http://www.chicagobooth.edu/faculty/bio.aspx?person_id=12825835520. Words: 965