A revolution in economics was probably never a conscious goal of Forrester’s work. Yet, his writings might have laid the foundation for it by visualizing the decision process as it exist in operational settings instead of being defined by abstract postulates of mainstream economics. This perspective allows his models to be tied to policies that influence everyday decisions. When viewed in the c...

Perspectives from the Happiness Literature and the Role of New Instruments for Policy Analysis After having been ignored for a long time by economists, happiness is becoming an object of serious research in 21 century economics. In Section 2 we sketch the present status of happiness economics. In Section 3 we consider the practical applicability of happiness economics, retaining the assumption ...

The striatum plays a critical role in learning from reward, and it has been implicated in learning from performance-related feedback as well. Positive and negative performance-related feedback is known to engage the striatum during learning by eliciting a response similar to the reinforcement signal for extrinsic rewards and punishments. Feedback is an important tool used to teach new skills an...

the fetal origins hypothesis (foh), put forward in the epidemiological literature and later flourished in the economics literature, suggests that the time in utero is a critical period for human development. however, much attention has been paid to the consequences of fetal exposures to more extreme natural shocks, while less is known about fetal exposures to milder but more commonly experience...

The purpose of this paper is to expose the survival Customary Legal system in municipality Huehuetla (State Puebla, Mexico), regard Totonac people. This normative perspective proves a cultural resistance positive law and public institutions. First all, qualitative research shows impact legal pluralism on debate. In sense, during last decades, several authors have explained importance laws field...

The theory of rational efficient markets dominated financial economics three decades ago. In recent years, however, psychology-inspired behavioral finance has overshadowed it. Both critics and proponents of the use of psychology in economics and finance base their positions on the premise that psychology primarily deals with human fallibility, systematic mistakes and biased judgment (Kahneman, ...

In normative public economics, inter-governmental competition is usually viewed as harmful. Although empirical support for this position does not abound, market integration has intensi ̄ed competition among developed countries. In this paper we argue that when assessing welfare e®ects of inter-governmental competition for various forms of government imperfections (the public choice critique), th...

Dynamic entry games are revisited using a Markovian solution concept based on the introduction of long and short time players. This approach provides new insights on the economics of potential competition in particular relative to rent dissipation and selection issues. Potential competition appears less attractive from a normative standpoint. Journal of Economic Literature ClassiÞcation Numbers...