Modern legal scholars frequently and increasingly base their analyses on the assumption, grounded largely in the extensive experimental literature, that individuals are subject to a number of systematic behavioral biases. Within the legal literature, behavioral economic analysis has been relied upon to generate a significant number of proposals for paternalistic regulation. These proposals are ...

E sther Duflo, winner of the 2010 John Bates Clark Medal, has made extraordinary contributions to development economics. Esther has focused on topics that many economists think probably are central to understanding the differences in welfare between the high-income and low-income countries of the world: not only education, credit, food, and health, but also more nebulous concepts like social in...

This paper considers a seeming disconnect between the consensus in policy circles that reducing gender inequalities is to be prioritized in strategies for reducing inequality and poverty, and a view in mainstream economics (and in some policy circles) that gender inequalities are overemphasized. This latter view is not stated openly, it being politically incorrect to do so, but is nevertheless ...

In seeking to explain aspects of real-world economies that defy easy understanding when analysed via conventional means, Nobel Laureate Robert Shiller has since 2017 introduced and developed the idea Narrative Economics, where observable economic factors such as dynamics prices in asset markets are explained largely a consequence narratives (i.e., stories) heard, told, believed by participants ...

This research presents a new application of Data Envelopment Analysis (DEA) to empirically determine prices of multiple products. The DEA technique is now widely applied to performance analysis and efficiency measurement in economics, business and other areas in social science. This study does not explore such conventional DEA uses, rather directing towards a new DEA application to the determin...

A dynamical price formation model for financial assets is presented. It aims to capture the essence of speculative trading where mispricings of assets are used to make profits. It is shown that together with the incorporation of the concept of risk aversion of agents the model is able to reproduce several key characteristics of financial price series. The approach is contrasted to the conventio...