Concepts Of Economic Analysis Research Articles

Risco Ocupacional e Custos: Análise Crítica da Política de Monetização do Risco com Abordagem de Normas do Direito Espanhol

The problem that surrounds the issue of occupational risk is a phenomenon that plagues every society, because the work is a central element and gives force to the economy. In this sense, the exposure of workers to harmful activities that may cause damage to your health and physical and mental integrity, based on the monetization policy of risk adopted by the Brazilian legal system, can import costs to the workers, employers, the state and society. Thus, the present study seeks, from the labor law analysis and the use of concepts of Economic Analysis of Law, attest that the social costs caused by worker exposure to risk is, fallaciously shown, in a short-term smaller than that of prevention, but in the long run can import the burden on all parties of the employment relationship as well as the State and society, being necessary to use economic and legal measures for changing the monetization of risk policy, as in alien systems, as the Spanish Law analyzed.

Expanding the Behavioral Foundations of Labor Economics

The author examines, critiques, and suggests modifications to the psychological assumptions of the rational choice model of the human agent that underlies much of the theoretical work in modern, neoclassical labor economics. He analyzes the rational choice model in terms of three psychological constructs-motivation, cognition, and emotion-in the context of a five-step model of the human behavioral process. Examples from the empirical and theoretical labor economics literature illustrate both problems with the current theory and new or improved insights and predictions that can be gained by incorporating additional psychological theories and concepts in economic analysis. The author concludes that although the rational choice model is a powerful and productive conceptual device, in many cases it cannot adequately explain behavior in the world of work, and labor economic theory would be improved by a more interdisciplinary approach that integrates conceptual and empirical research from the behavioral sciences. (Abstract courtesy JSTOR.)

The nature of animal health economics in relation to veterinary epidemiology.

Animal health economics is being formally integrated into such institutions as sub-Saharan African universities and Veterinary Services. Unfortunately, the nature of the relationship between economics and epidemiology is not clearly understood. Economics has an extensive theoretical apparatus and an array of methods and techniques. Animal health economics has two interrelated branches: economics for the planning and management of animal health services and economic analysis of diseases and interventions. Epidemiology and economics, although separate scientific areas, are complementary when the goal is efficient management of animal health and associated delivery systems. In performing economic analyses, an "economic model' should determine data requirements (epidemiological and socioeconomic), as such analyses invariably require epidemiological inputs. The core concepts in economic analysis are as follows: conceptual models, opportunity cost of resources, marginal analysis and partial analysis. Important methods include statistical models, mathematical programming, budgets, cost minimisation, decision analysis, variants of cost-benefit analysis and simulation. Given the nature of animal health economics, veterinarians who want to practise as economists need a thorough training in economic principles and methods, in addition to training in basic epidemiology.

Some Notes on the Role of History and the Definition of Hysteresis and Related Concepts in Economic Analysis

It is commonplace that history has an impact on present behavior. Events such as the discovery of America, the Industrial Revolution, the two World Wars, and, most recently, the decline of communism and the collapse of the Soviet empire have each, in their turn, changed lives in such a way as to make a reversion to preexisting worlds impossible. Not surprisingly, then, historical effects have begun to be noticed in economic analysis. Thus, for example, Georgescu-Roegen (1950) has argued that an individual's demand for goods might depend on his past experience. In particular, temporary price and (or) income changes causing a reallocation of purchases could, as a result of his experience with the new purchases, bring about a permanent change in his preferences. Even with the old prices and income restored, then, the individual would not return to his original position. And Phelps (1972, pp. xxii,

Regulating the Regulators: A Review of the FINE Regulatory Reforms

In contributing to this symposium of articles on the FINE Report, our task is an evaluation and analysis of the issues raised by the FINE regulatory reform. The primary source materials include the FINE Discussion Principles, study papers by Thomas Mayer [2] and Samuel Chase [1] C and the volumes of hearings records. Given literally thousands of pages of source material, it was cIearly desirable to develop a straightforward analytic framework that could be applied in weighing the costs and benefits of the numerous proposals and issues. Such an analytic framework is not provided in any of the FINE materials nor have we been able to develop one. Consequently, we proceed in this paper to evaluate the issues by summarizing the main aspects of each question and forming a judgment on the evidence. Before doing so) however, it is perhaps useful to note briefly why an analytic framework is so hard to develop. An analytic framework would consist in bare essentials, of a criterion function of policy goal variables and of structural relationships between the control parameters and the policy goals. The policy goal variables could include, for example, the efElciency of the Emancial system, the equity and consistency of regulatory control, and the protection of the regulatory system from undue influence of short-term partisan policy pressure. One key problem, of course, is that a complete list of these goal variables is incredibly long and that there is no concensus on how to quantify the variables or on the trade-off between goals when the goals are conflicting. Similarly, the necessary structural relationships linking the control variables to the policy-goal variables are of a behavioral complexity well beyond that of all existing economic models. Furthermore, there is no apparent way to ai?stract from these complexities, since in large measure the issues exist precisely because the relationships are so complex. To be clear, many concepts of economic analysis are applied in the evaluation. Economies of scale, the theory of second-best, efficiency, consistency, and related concepts frequently are used in the FINE materials and in our discussion. The point is, rather, that these concepts cannot be applied in any systematic and direct way over even a major set of the problems.

Individualism and Economic Theory

ECONOMICS, ONE OF THE OLDEST of the social sciences, is in need of reconstruction. However, in spite of the dissatisfaction with economic thought, there are few attempts toward laying new foundations. The reason for this may be the lack of a basic insight into the meaning of economic thought; therapy is impossible without proper diagnosis. Rationalistic and positivistic thought interprets scientific truth as some kind of conformity between conceptual schemes and reality. Truth is considered as the sole aim of economic science. However desirable it may be to create such an economic science, the reality of economics shows a different picture. Our culture is distinguished by its emphasis, perhaps overemphasis, on economic activity. Production of goods and acquisition of wealth is not considered as an onerous necessity but as the main purpose of life. Economics moved into the center of thought. Functions which were fulfilled in other societies by mythology, religion and philosophy are, often unconsciously, performed by economic thought. Economics became a substitute for metaphysics and philosophy. One cannot understand the meaning of certain concepts of economic analysis without considering that thought in general performs a function beyond the mere scientific one of explanation and beyond the technological one of controlling reality. Man is subject to the conflicts created by his civilization. Systems of thought, philosophies and social ideologies perform the function of harmonizing tension-creating conflicts' and thereby enable man to bear the burden of existence. Because of the emphasis on economic activity in modern civilization, this function is largely fulfilled by economic thought. Economics has formulated the human ideal of industrial civilization.2 It has projected this ideal into nature and into the universe. Through its rationalistic and utilitarian assumptions and through its theoretical constructs it has molded human and social reality into the shape needed by an industrial society. Complete understanding of the meaning of economic thought is impossible if one neglects its covert, unconscious attempts to harmonize the conflicts created by industrial civilization.

The Concept of Value Further Considered

I. Relation of value concept to causal theory of value, 675. — II. Various roots of relative conception of value: Relativity of Knowledge, 676. — Geometrical conceptions of relativity; parallel argument for relativity of value, 677. — Doctrine of fixed sum total of values, 680. — Haney's expressions, 681. — Usage in English, French and German, 681. — III. General rise or fall of values, 682. — Can one good alone have value ? 683. — Abstract v. concrete ratios, 684. — Rate of as abstract ratio, 685. — Rate of useless for economic analysis: views of J. B. Clark, Bohm-Bawerk, Carver and C. M. Walsh, 685. — IV. Illustrations of need of absolute value concept, 687. — Fisher's general price level an indefensible substitute, 688. — Shift in Laughlin's argument, 690. — V. Speed and value as ratios, 691. — The mathematician's fallacy, 692. — Differences between measurement of speed and measurement of values, 693. — VI. Rate of as price, 695. — VII. Different consequences of absolute and relative value concepts in economic analysis, 695. — (1) Value a wider concept than exchange, 695. — Value in sociology and in economics, 696. — Value and exchange in socialistic state, 696. — (2) Value and exchangeability not correlated, 697. — Nor do prices always correctly express values, except in static theory, 698. — Values as causes of prices, 698. — Temporal relation of cause and effect, 698. — (3) Prices often partly controlled by non-economic values, 699. — Law, custom, and morals in relation to prices, 699. — Exchange theory of value cannot shirk consideration of these cases, 702. — VIII. (4) Power in as equivalent of value, 702. — IX. (5) Schumpeter's use of relative concept as regards land value, 703. — X. Conclusion, 705.