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Economic Sociology. New York: Academic Press. Richard Swedberg. 1990. Economics and Sociology: Redefining Their Boundaries: Conversations with Economists and Sociologists. Princeton University Press. ISBN 0-691-00376-9, ISBN 978-0-691-00376-4 Description and chapter-preview links, pp. v-vi. Richard Swedberg. 2007. Principles of Economic ...
An example in economic policy, economist Anthony Downs concluded that a high income voter ‘votes for whatever party he believes would provide him with the highest utility income from government action’, [19] using rational choice theory to explain people's income as their justification for their preferred tax rate.
In a 1938 article, Abram Bergson introduced the term social welfare function, with the intention "to state in precise form the value judgments required for the derivation of the conditions of maximum economic welfare." The function was real-valued and differentiable. It was specified to describe the society as a whole.
"If we have a function which, although in and for itself unproductive, is nevertheless a necessary moment of [economic] reproduction, then when this is transformed, through a division of labour, from the secondary activity of many into the exclusive activity of a few, into their special business, this does not change the character of the ...
For example, in addition to returning their contributions, the mechanism designer might give all contributors an additional $5 if the total donations aren’t sufficient to support the project. If there’s a chance that the contract will fail, a refund bonus incentivizes people to participate in the mechanism, making the all-pay equilibrium ...
[2] [5] However, SES is more commonly used to depict an economic difference in society as a whole. [6] Socioeconomic status is typically broken into three levels (high, middle, and low) to describe the three places a family or an individual may fall into. When placing a family or individual into one of these categories, any or all of the three ...
"Thirteen critical points in contemporary economic theory". Journal of Economic Literature. 10 (4): 1163– 1189. JSTOR 2721542. Alessandro Innocenti (1995). "Oskar Morgenstern and the Heterodox Potentialities of the Application of Game Theory to Economics". Journal of the History of Economic Thought. 17 (2): 205– 227. doi:10.1017 ...
Such an example of taxation bias found in the article "Inattention and the Taxation bias", [35] which arises from inattention to taxes and generates a time-inconsistency problem in the choice of tax policy, leading to higher taxes in equilibrium. These discretionary tax increases are inefficient as they are deviations from the socially optimal ...