Financial economics and mathematical finance are the two traditional scientific disciplines that constitute modern financial theory. Although they still largely dominate modern financial theory, in ...the past few years a new “player” has increasingly been making itself felt and could lead to a rethinking of some of the theoretical foundations of modern financial theory. This new player is econophysics. Econophysics is a very recent movement that is beginning to interest increasing numbers of financial practitioners. To date, no history of econophysics has been produced. This article aims at filling this gap. It analyzes the theoretical foundations of econophysics and their connections with the history of financial economics. It also explores the reasons underlying the emergence of econophysics and explains how econophysics has become the third component of modern financial theory.
We test competing hypotheses from political–economic and neo-liberal theories about the effects of economic growth and urbanization on a neglected, but important, indicator of environmental health: ...aquatic biodiversity. We analyze cross-national data on the number of threatened fish species within national territorial waters using negative binomial regression. We find that, counter to the expectations of neo-liberal theories, economic growth increases the likelihood of fish species becoming threatened within nations. Urbanization, however, appears to have no additional effect. The “environmental Kuznets curve” does not hold for aquatic biodiversity, suggesting that further economic growth in nations is likely to escalate the biodiversity crisis.
The Moroccan economy: analysis in the light of the economic development theories. The sustained growth of the Moroccan economy, registered during the last decade can leave hope for economic growth ...for the country and the beginning of improvement of living standards of its population classified as very poor development indicators. We have tried in this article to compare the development of the Moroccan economy since independence until 2014, with the pioneering development of theories, namely the theory of vicious circles of poverty Nurkse, the theory of dual economy of Lewis, the theory of economic retard of Rostow and the structuralist theory developed by Prebisch. This exercise revealed that the Moroccan economy, both complies with some features of these theories, but it stands out on other aspects. This finding corroborates the complexity of underdevelopment.
Within contemporary feminism, common approaches to feminising the economy involve adding a sphere or sector or attributing a monetary value to women's unpaid labour. Each of these approaches is ...interested in creating an accurate representation of the real or 'whole' economy. But these representations are in the same lineage as mainstream economic conceptions; the economy remains a bounded entity that can be known by enumerating its parts. The 'adding on' and 'counting in' strategies employed by feminists complete the picture of what is needed to produce social well-being but do not necessarily help us think differently about how goods and services are or might be produced. In this article, the authors ask how feminist economic theory might contribute to envisioning or enacting alternative economies. They find answers to this question through reading feminist interventions for glimmers of a deconstructive project that opens 'the economy' to difference. Pursuing these glimmers, they attempt to insert the possibility of non-capitalist forms of economy, including economies of generosity, non-profit businesses, worker collectives and alternative capitalist enterprises impelled by a social or environmental ethic. In place of the view of the economy as a whole comprised of a pre-established number of parts or sectors, it can begin to be seen as a discursive construct that can be reconstructed to contribute to social transformation.
Accurate expectations about the outcome of elections play a central role in psychological and economic theories of voting. In the paper, three questions about voters’ expectations are investigated. ...First, we identify and test several factors that influence the overall accuracy or quality of voters’ expectations. Second, the phenomenon of “wishful thinking” is tested and confirmed for expectations about the electoral performance of individual parties and coalitions. Finally, two mechanisms how expectations might influence voting behavior are identified and tested. Based on surveys from Austria and Germany, the results suggest that voters not only rely on expectations to avoid casting “wasted” votes for parties without electoral chances, but that they are able to engage in fairly sophisticated strategic coalition voting.
►Partisan preferences increase the accuracy of electoral expectations overall. ►Partisan preferences lead to wishful thinking about the chances of specific parties. ►Wishful thinking effects are replicated for electoral expectations about coalitions. ►Political knowledge and education reduce wishful thinking. ►Electoral expectations lead to strategic vote decisions and a bandwagon effect.
In short, the claims of the theories of development and their different perspectives are what we
intend to present in this short theoretical space as a trial with which it seeks as stated earlier
...decant the fundamentals of the theory and its various perspectives. That is, the economic outlook
(Neoclassical determinants Vision of growth), growth prospects and endogenous development,
social perspective (Human Development), political perspective (Institutions and social capital),
environmental perspective, urban development perspective, perspective of rural development
perspective of land management, decentralization and territorial perspective of management.
En síntesis, las pretensiones de las teorías del desarrollo y sus diversas perspectivas son las que
pretendemos presentar en este corto espacio teórico a manera de ensayo con lo cual se busca
como dijimos al principio decantar los fundamentos de la teoría y sus diversas perspectivas. Es
decir, la perspectiva económica (visiones neoclásica-determinantes del crecimiento), perspectiva
de crecimiento y desarrollo endógeno, perspectiva social (desarrollo humano), perspectiva política
(instituciones y capital social), perspectiva ambiental, perspectiva de desarrollo urbano, perspectiva
de desarrollo rural, perspectiva de ordenamiento territorial, perspectiva de descentralización y
gestión territorial.
The goal of the Human Development and Capability Association is to improve the quality of work within the "Human Development" paradigm and to commend it to the attention of the world. They hope to ...bridge a series of troublesome gulfs. First are multiple disciplinary gulfs: they include economists, philosophers, political scientists, education theorists, psychologists, and many others, hoping to put them in productive conversation with one another. Second are national and regional gulfs: they focus heavily on attracting members from developing countries and putting people from Europe and North America into conversation with scholars they otherwise would nor have met. Third are age gulfs: most of its members are quite young, and one of their major purposes is to help young people move into this area by providing intellectual support at the dissertation or early career stage. Finally, they aim to bridge the gulf between theory and practice: they have always involved politicians, development practitioners, and others in a position to implement their ideas. Here, Nusssbaum talks about the challenges they encountered in starting the Human Development and Capability Association.
Agricultural land plays several functions; it is both an economic resource and a natural, cultural, and symbolic asset. The multifunctionality of agricultural land may, nevertheless, give rise to ...conflicts over its use and, as a result, generate significant economic costs. However, economists usually do not investigate conflicts. The purpose of this paper is to fill this gap. The article focuses on methodological issues and outlines economic concepts that may be valuable to study land-use conflicts. Among the various approaches and theories that are important in the economic analysis of conflicts, special attention is paid to new institutional economics and public choice theory, which are often used by agricultural as well as environmental economists. The article highlights the importance of the institutional framework for a well-functioning land market. It concludes that economics can offer tools for studying conflicts by paying attention to the distinct interests and economic resources of different actors, as well as the relationship between present and future social needs. The paper also briefly reviews recent empirical research on landuse conflicts in Poland.
This study advances a social constructionist view of financial market behavior. The paper suggests that the market's reaction to particular corporate practices, such as stock repurchase plans, are ...not, as financial economists contend, simply a function of the inherent efficiency of such practices. Rather, stock market reactions are also influenced by the prevailing institutional logic and the degree of institutionalization of the practice. The theory first predicts that the emergence of the agency perspective on corporate governance in the mid-1980s represented a powerful new institutional logic that would lead the market to reverse its prior aggregate reaction to stock repurchase plans in the United States. The paper then considers the potential for institutional decoupling of repurchase plans and develops competing hypotheses about how the market value of these policies might have changed as more firms formally adopted, but did not implement, the plans over time. In contrast to a financial economic perspective on market valuation, which suggests that markets should discount the value of a policy as evidence of non-implementation accumulates, this study posits that institutionalization processes might increase the market value of a policy as more firms adopt it, despite growing evidence of decoupling. Implications for institutional theory and theoretical perspectives on capital markets are discussed.
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