Behavioral economics has in recent decades emerged as a prominent set of methodological developments that have attracted considerable attention both within and outside the economics profession. The time is therefore auspicious to assess behavioral contributions to particular subfields of economics such as labor economics. With empirical validity among its chief objectives, one might guess that ...

Article history: Received 10 November 2007 Received in revised form 14May 2008 Accepted 14 May 2008 Available online 14 June 2008 The paper analyzes the contribution of K. William Kapp, widely considered one of the founders of Ecological Economics. This paper will demonstrate how K. William Kapp developed his theory of social costs into a framework for environmental policy development, i.e. the...

Abstract This article investigates how Israel Kirzner approached mainstream economists with his view of the Austrian theory. It discusses role narrative elements in Kirzner's theory use stories to illuminate ideas entrepreneurship, firm, and knowledge problem. argues that made more open dialogue without tying him scientific demarcation criteria used economics. The narratives work allow (i) emph...

The Great Recession seems to be a natural experiment for macroeconomics showing the inadequacy of the predominant theoretical framework — the New Neoclassical Synthesis — grounded on the DSGE model. In this paper, we present a critical discussion of the theoretical, empirical and political-economy pitfalls of the DSGE-based approach to policy analysis. We suggest that a more fruitful research a...

This paper concerns computational models in environmental economics and policy, particularly so-called integrated assessment models. For the most part, such models are simply extensions of standard neoclassical growth models, extended by including the environment and pollution generation. We review the structure of integrated assessment models, distinguishing between finite horizon and infinite...

a r t i c l e i n f o The ecological economic concern with environmental sustainability embodies the normative orientations of the field. This concern is foremost a matter of distributive justice, the definition of which determines the relevance of the appropriate scale and efficient allocation criteria. Yet it would appear that the discipline lacks a shared, internally consistent set of ethica...

My remarks highlight the misleading signals that are generated when standard neoclassical models are used to indicate economic growth and development. I wish to build on the now accepted fact that anthropogenic activity, what has been descriptively termed "technometabolism," has grown in scale to the point that it rivals in environmental impact some of the earth's natural systems. I will argue ...

We need law and economics to do the scientific measurement necessary for legal design be seen as on stage of science. Law economics—which is application economic theory, especially microeconomic analysis practice law--is a valid tool approach reflect what should empirically investigated in design. The neoclassical (mainstream) theoretical foundation is, however, at times far from reality it oft...