I n the epilogue of their blockbuster book Mostly Harmless Econometrics (2009), Josh Angrist and Steve Pischke write, “If applied econometrics were easy, theorists would do it.” As academic jokes go, ...

Most economists subscribe to a belief in “positive economics,” which means that economic theory flows from economic data. Thus, all theory can be tested for ...

Economist Michael Chwe has written a book called “Jane Austen: Game Theorist.” Do you need more of a reason to read this post? Video from Michael Chwe’s YouTube channel. I’m a specialist in game ...

This is a preview. Log in through your library . Abstract No scientific theory of economic dynamics exists, 1.--The basic concepts and postulates of contemporary economic theory, 3.--The method of ...

What if you could predict your competitor’s next move before they even made it? Game theory gives you the tools to do just that. Have you ever noticed how a new product launched by one brand often ...

Economic theory has evolved into a multifaceted discipline that not only articulates the fundamental principles governing resource allocation and decision‐making but also integrates classical ideas ...

Decision theory is a cornerstone of economic analysis, providing a framework for understanding how individuals and institutions make choices under conditions of uncertainty and risk. At its core, the ...

Philipp Strack, a scholar of microeconomic theory who has achieved key advances in the field of game theory and behavioral economics, was recently appointed the Cowles Foundation Professor of ...