1 INTRODUCTION Economics-Driven Software Engineering Research (EDSER) seeks to develop technical theories, guidelines, and practices of software development based on sound, established, and new models of value-creation, adapted to the domain of software development as necessary [1, 2]. Most advances in software engineering have not been based upon generally accepted ways of thinking about econo...

A System Model of Value Acquisition Based on Innovative Economics in Knowledge-Based Businesses the Field Information Technology

Abstract Welfare economics, in the form of cost-benefit and cost-effectiveness analysis, is at present internally inconsistent and ethically unappealing. We address these issues by proposing two ethical axioms: society prefers Pareto improvements and society values lives lived at a "standard" level of health and income equally. We show that there exists a unique social preference ordering satis...

People not only care about outcomes, they also value the procedures which lead to the outcomes. Procedural utility is a potentially important source of human well-being. This paper aims at introducing the concept of procedural utility into economics, and argues that it should be incorporated more widely into economic theory and empirical research. Three building blocks of a concept of procedura...

This paper applies a model of potentially time-inconsistent preferences to the problem of dynamic labor supply and welfare program participation. From panel data on the choices of single women with children, we provide estimates of the degree of time-inconsistency. With these estimates we can quantify the utility loss stemming from the inability to commit to future decisions, and the potential ...

ANDREW B. WHINSTON is the Hugh Roy Cullen Centennial Chair Professor in Information Systems at the McCombs School of Business at the University of Texas at Austin. He isaprotessor in the Departments of Economics and Computer Science as well, and Fellow of the IC* Institute, Austin, and the director of the Center for Research in Electronic Commerce, for several years a pioneering research facili...