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Humanomics
  • Language: en
  • Pages: 237

Humanomics

Articulates Adam Smith's model of human sociality, illustrated in experimental economic games that relate easily to business and everyday life. Shows how to re-humanize the study of economics in the twenty-first century by integrating Adam Smith's two great books into contemporary empirical analysis.

Papers in Experimental Economics
  • Language: en
  • Pages: 829

Papers in Experimental Economics

A collection of the major papers of Vernon L. Smith, the main creator of the new field of experimental economics.

Handbook of Experimental Economics Results
  • Language: en
  • Pages: 1175

Handbook of Experimental Economics Results

  • Type: Book
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  • Published: 2008-08-21
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  • Publisher: Elsevier

While the field of economics makes sharp distinctions and produces precise theory, the work of experimental economics sometimes appears blurred and may produce uncertain results. The contributors to this volume have provided brief notes describing specific experimental results.

Rethinking Housing Bubbles
  • Language: en
  • Pages: 309

Rethinking Housing Bubbles

Steven D. Gjerstad and Nobel Laureate Vernon L. Smith demonstrate the critical role that household and bank balance sheets play in economic cycles.

The Law and Economics of Irrational Behavior
  • Language: en
  • Pages: 634

The Law and Economics of Irrational Behavior

This collection of essays explores the most relevant developments at the interface of economics and psychology, giving special attention to models of irrational behavior, and draws the relevant implications of such models for the design of legal rules and institutions. The application of economic models of irrational behavior to law is especially challenging because specific departures from rational behavior differ markedly from one another. Furthermore, the analytical and deductive instruments of economic theory have to be reshaped to deal with the fragmented and heterogeneous findings of psychological research, turning towards a more experimental and inductive methodology. This volume brings together pioneering scholars in this area, along with some of the most exciting developments in the field of legal and economic theory. Areas of application include criminal law and sentencing, tort law, contract law, corporate law, and financial markets.

Discovery - A Memoir
  • Language: en
  • Pages: 365

Discovery - A Memoir

  • Type: Book
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  • Published: 2008
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  • Publisher: Unknown

The feeling you get as the bright sunshine breaks though the thick gloom on a cloudy day, this is the feeling you get as you read this story of two young ants that fall in love, and experience together a fast paced thrill ride, called life as an ant. Along the way, you get to know Arnold's energetic friends, Al, Rock, Stone, and Pebbles. Betty and Arnold face one trial after another, and meet some truely unique characters. Betty unknowingly finds an elderly ant that turns out to be her long lost grandmother. During a powerful storm, Arnold's life is endangered when he is blown off the side of a tall mountain! Will he survie? Will Betty be left alone? The last chapter is like a race, so get ready!

Rationality in Economics
  • Language: en
  • Pages: 364

Rationality in Economics

  • Type: Book
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  • Published: 2008
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  • Publisher: Unknown

The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by economic theory, under information conditions far weaker than specified in the theory. In personal, social, and economic exchange, as studied in two-person games, cooperation exceeds the prediction of traditional game theory. This book relates these two findings to field studies and applications and integrates them with the main themes of the Scottish Enlightenment and with the thoughts of F.A. Hayek.

Bargaining and Market Behavior
  • Language: en
  • Pages: 474

Bargaining and Market Behavior

This second Cambridge University Press collection of papers by Vernon L. Smith, a creator of the field of experimental economics, includes many of his primary authored and coauthored contributions on bargaining and market behavior between 1990 and 1998. The essays explore the use of laboratory experiments to test propositions derived from economics and game theory. They also investigate the relationship between experimental economics and psychology, particularly the field of evolutionary psychology, using the latter to broaden the perspective in which experimental results are interpreted. The volume complements Professor Smith's earlier work by demonstrating the importance of institutional features of markets in understanding behavior and market performance. Specific themes investigated include rational choice, the notion of fairness, game theory and extensive form experimental interactions, institutions and market behavior, and the study of laboratory stock markets.

A Life of Experimental Economics, Volume I
  • Language: en
  • Pages: 479

A Life of Experimental Economics, Volume I

This book provides an intimate history of Nobel Laureate Vernon Smith’s early life, combining elements of biography, history, economics and philosophy to show how crucial incidents early in his life provided the necessary framework for his research into experimental economics. Smith takes the reader from his family roots on the railroads and oil fields of Middle America to his early life on a farm in Depression-wracked Kansas. A mediocre student in high school, Smith attended Friends University, on Wichita’s west side, where an intense study of mathematics, physics, chemistry, and astronomy enabled him to pass the examinations to enter Caltech and study under luminary scientists like Linus Pauling. Eventually Smith discovered economics and pursued graduate study in the field at University of Kansas and Harvard. This volume ends with his Camelot years at Purdue, where he began his famous work in experimental economics, nurturing his research into an unlikely new field of economics.

Adam Smith
  • Language: en
  • Pages: 597

Adam Smith

The essential guide to the life, thought, and legacy of Adam Smith Adam Smith (1723–90) is perhaps best known as one of the first champions of the free market and is widely regarded as the founding father of capitalism. From his ideas about the promise and pitfalls of globalization to his steadfast belief in the preservation of human dignity, his work is as relevant today as it was in the eighteenth century. Here, Ryan Hanley brings together some of the world's finest scholars from across a variety of disciplines to offer new perspectives on Smith's life, thought, and enduring legacy. Contributors provide succinct and accessible discussions of Smith's landmark works and the historical cont...