Explores the X-efficiency paradigm in relation to the theory of the firm

Economics used to be called political economy, and the loss of the “political” tracks the ascendance of the idea of rational choice within the discipline. Where does this idea of economic rationality – choosing to maximize benefits and minimize costs – come from? What are the consequences of its rise? In this new book, Stephen Engelmann assesses these questions through a consideration of the often-hidden links between choice and government, ranging from the Benthamic utilitarianism that inspired modern economics to the contemporary economic psychologists trying to nudge everyone to choose more rationally. Multiple global crises are exposing how deficient economic rationality is as a political theory, since a focus on choice turns actors away from relations in the common. Political economy once targeted aristocratic rule – heralding a politics and ethics of egalitarian self-command and spurring democratic reform – but economics allows domination and forecloses alternatives to it. This accessible volume will be of interest to students and scholars of politics and economics, and to general readers concerned about the various ways that psychology and management have infiltrated our politics.

The concept of economic rationality is important for the historical evolution of Economics as a scientific discipline. The common idea about this concept -even between economists- is that it has a unique meaning which is universally accepted. This new volume argues that "economic rationality" is not not a universal concept with one single meaning, and that it in fact has different, if not conflicting, interpretations in the evolution of discourse on economics. In order to achieve this, the book traces the historical evolution of the concept of economic rationality from Adam Smith to the present, taking in thinkers from Mill to Friedman, and encompassing approaches from neoclassical to behavioural economics. The book charts this history in order to reveal important instances of conceptual transformation of the meaning of economic rationality. In doing so, it presents a uniquely detailed study of the historical change of the many faces of the homo oeconomicus .

Provides a study of differences in unrestricted state appropriations for Carnegie Public Research Universities during the 1990s, contending that funding is contingent on the institution's ability to demonstrate its service to the state.

This proceedings book features selected papers from the 9th National Scientific and Practical Conference “Digital Economy: Complexity and Variety Vs. Rationality,” which took place on April 17–18, 2019, in Vladimir (Russian Federation). It presents the latest research in the field of the digital economy, discussing its role in the creation of advantages for the state, entrepreneurship, and society, as well as the emergence of new economic risks. The chapters address the following topics: the importance of economy’s digital modernization, tools for the formation of the digital economy in Russia, specific features and perspectives of digital modernization of the regional economy, an overview of the social consequences of transition to the digital economy, financial components of the digital economy, legal challenges regarding the digital reality for society and state, and the main challenges and threats to the profession of jurisprudence in the context of the digitization of the economy. Intended for representatives of the academic community and researchers interested in the formation of the digital economy and digital society as well as undergraduates, postgraduates, and masters of economic specialties, the book is also a valuable resource for companies that use or wishing to implement digital technologies into their economic practices; and public and government employees involved with monitoring, control, and regulation of the digital economy.

This book examines how developing countries often sign up to highly potent rules underwriting economic globalisation without even realising it.

Islamic schools, or madrasas, have been accused of radicalizing Muslims and participating, either actively or passively, in terrorist networks since the events of 9/11. In Pakistan, the 2007 siege by government forces of Islamabad's Red Mosque and its madrasa complex, whose imam and students staged an armed resistance against the state for its support of the "war on terror," reinforced concerns about madrasas' role in regional and global jihad. By 2006 madrasas registered with Pakistan's five regulatory boards for religious schools enrolled over one million male and 200,000 female students. In The Rational Believer, Masooda Bano draws on rich interview, ethnographic, and survey data, as well as fieldwork conducted in madrasas throughout the country to explore the network of Pakistani madrasas. She maps the choices and decisions confronted by students, teachers, parents, and clerics and explains why available choices make participation in jihad appear at times a viable course of action. Bano works shows that beliefs are rational and that religious believers look to maximize utility in ways not captured by classical rational choice. She applies analytical tools from the New Institutional Economics to explain apparent contradictions in the madrasa system-for example, how thousands of young Pakistani women now demand the national adoption of traditional sharia law, despite its highly restrictive limits on female agency, and do so from their location in Islamic schools for girls that were founded only a generation ago.

Rashda:The Birth and Growth of an Egyptian Oasis Village is an interdisciplinary study from a multi-perspective, using various kinds of data and information. It offers a comprehensive description of Rashda, a village in Dakhla Oasis in Egypt from its beginning to the present. Key concepts are the uncertainty of the water supply, the dependence on the political regime and the rational behaviour of individuals. The villagers of Rashda have dealt with the difficult natural circumstances by creating the local customs of irrigation and cultivation. The development of village recently depends ever more on the government, as long as large amounts of finance and superior technology are necessary to dig deeper wells to secure water for cultivation.

The unifying theme of the 23 contributions to this book is the social interaction of rational individuals. The work of John C. Harsanyi on game theory, social choice, and the philosophy of science finds an echo in these essays. Contributions by well known game theorists and economists present a great variety of stimulating theoretical investigations. Part I contains six papers on non-cooperative game theory written by Maschler, Owen, Myerson, Peleg, Rosenmüller, Hart and Mas-Collel. Part II with three contributions by Kalei, Samet, van Damme, d'Aspremont, and Gérard-Varet is devoted to the use of non-cooperative game theory in the analysis of problems of mechanism design. Basic questions of non-cooperative game theory are discussed in three essays by Güth, Hardin, and Sugden in Part III. Applied game models are discussed in three papers by Friedman, Selten, and Shubik in Part IV. Problems of social choice are investigated in Part V which deals with utilitarianism and related topics in five contributions by Hammond, Binmore, Arrow, Roemer, and Broome. Finally, Part VI contains three papers: an interdisciplinary comparison of physics and economics by Samuelson, a methodological essay by Brock, and an appraisal of the work of John C. Harsanyi.

The monograph is about a meta-theory of knowledge-production process and the logical pathway that connects the epistemic possibility to the epistemic reality. It examines the general conditions of paradigms for information processing and isolates the classical and fuzzy paradigms for comparative analysis. The sets of conditions that give rise to them are defined, stated and analyzed to abstract the corresponding sets of laws of thought. The fuzzy paradigm with its corresponding logic and mathematics is related to inexact symbolism for the defective information structure where the results of the knowledge production must satisfy the epistemic conditionality, composed of fuzzy conditionality and fuzzy-stochastic conditionality under the principle of logical duality with continuum. The classical paradigm with its corresponding logic and mathematics is related to exact symbolism for exact information structure where the vagueness component of the defectiveness is assumed away, and where the results of the knowledge production must satisfy no epistemic conditionality or at the maximum only the stochastic conditionality under the principle of logical dualism with excluded middle. It is argued that the epistemic path that links ontological space to the epistemological space is information. The ontological space is taken as the primary category of reality while the epistemological space is shone to be a derivative. Such information is universally defective and together with assumptions imposed guides the development of paradigms with their laws of thought, logic of reasoning, mathematics and computational techniques. The relational structure is seen in terms of logical trinity with a given example as matter-information-energy transformational trinity which is supported by the time trinity of past-present-future relationality. The book is written for professionals, researchers and students working in philosophy of science, decision-choice theories, economies, sciences, computer science, engineering, cognitive psychology and researchers working on, or interested in fuzzy paradigm, fuzzy logic, fuzzy decisions, and phenomena of vagueness and ambiguities, fuzzy mathematics, fuzzy-stochastic processes and theory of knowledge. It is further aimed at research institutions and libraries. The subject matter belongs to extensive research and development taking place on fuzzy phenomena and the debate between the fuzzy paradigm and the classical paradigm relative to informatics, synergetic science and complexity theory. The book will have a global appeal and across disciplines. Its strength, besides the contents, is the special effort that is undertaken to make it relevant and accessible to different areas of sciences and knowledge production.