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The punctuated equilibrium model of policy change was first presented by Frank Baumgartner and Bryan Jones in 1993, [1] and has increasingly received attention in historical institutionalism. [3] The model states that policy generally changes only incrementally due to several restraints, namely the "stickiness" of institutional cultures, vested ...
Psychology professor Finn Tschudi's ABC model of psychotherapy uses a structure similar to a decisional balance sheet: A is a row that defines the problem; B is a row that lists schemas (tacit assumptions) about the advantages and disadvantages of resolving the problem; and C is a row that lists schemas about the advantages and disadvantages of ...
Each subsystem will adjust to any change in the other subsystems and will continue to do so until an equilibrium is retained. The process of achieving equilibrium will only work if the changes happen slowly. Rapid changes would tend to throw the social system into chaos, unless and until a new equilibrium can be reached.
Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory.
Qualitative economics is the representation and analysis of information about the direction of change (+, -, or 0) in some economic variable(s) as related to change of some other economic variable(s). For the non-zero case, what makes the change qualitative is that its direction but not its magnitude is specified. [1]
In economics, dynamic inconsistency or time inconsistency is a situation in which a decision-maker's preferences change over time in such a way that a preference can become inconsistent at another point in time. This can be thought of as there being many different "selves" within decision makers, with each "self" representing the decision-maker ...
An evolutionarily stable strategy (ESS) is a strategy (or set of strategies) that is impermeable when adopted by a population in adaptation to a specific environment, that is to say it cannot be displaced by an alternative strategy (or set of strategies) which may be novel or initially rare.
US federal minimum wage if it had kept pace with productivity. Also, the real minimum wage. Real macroeconomic output can be decomposed into a trend and a cyclical part, where the variance of the cyclical series derived from the filtering technique (e.g., the band-pass filter, or the most commonly used Hodrick–Prescott filter) serves as the primary measure of departure from economic stability.