Deconstructing Marginalist Microeconomics
In: The Reformation in Economics, S. 71-93
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In: The Reformation in Economics, S. 71-93
In: Electricity Market Reforms, S. 31-49
The disagreement between rational choice (RCI) & historical institutionalism (HI) is investigated in the politics of enfranchisement of universal adult male suffrage. The ease of blurring the HI/RCI distinction is identified in how analysis, explanation, & normative assessment commingle in microeconomics. This underscores the multiple tasks that confront equilibrium based theories. A brief historical sketch characterizes universal suffrage as an equilibrium institution. Further exploration identifies how RCI builds normative justification into purportedly "positive" accounts of "moral" or "ethical" explanations that can advance normatively attractive institutions, such as universal suffrage. The lessons learned from the politics of enfranchisement are that RCI accounts must abandon their reduced form of analysis & harness the analytical advantages offered by bargaining explanations of institutional emergence. References. J. Harwell
The disagreement between rational choice (RCI) & historical institutionalism (HI) is investigated in the politics of enfranchisement of universal adult male suffrage. The ease of blurring the HI/RCI distinction is identified in how analysis, explanation, & normative assessment commingle in microeconomics. This underscores the multiple tasks that confront equilibrium based theories. A brief historical sketch characterizes universal suffrage as an equilibrium institution. Further exploration identifies how RCI builds normative justification into purportedly "positive" accounts of "moral" or "ethical" explanations that can advance normatively attractive institutions, such as universal suffrage. The lessons learned from the politics of enfranchisement are that RCI accounts must abandon their reduced form of analysis & harness the analytical advantages offered by bargaining explanations of institutional emergence. Tables, References. J. Harwell
In: Development Policies and Policy Processes in Africa: Modeling and Evaluation, S. 117-136
Analyzing the poverty and distributional impact of macro events requires understanding how shocks or policy changes on the macro level affect household income and consumption. It is clear that this poses a formidable task, which of course raises the question of the appropriate methodology to address such questions. This paper presents one possible approach: A sequential methodology that combines a macroeconomic model with a behavioral micro-simulation. We discuss the merits and shortcomings of this approach with a focus on developing country applications with a short to medium run time horizon. - This chapter is a re-print of: Lay, J. (2010). Sequential macro-micro modelling with behavioural microsimulations. International Journal of Microsimulation, 3(1), 24-34.