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Articoli

Ripensare la funzione di produzione neaoclassica

Cobb-Douglas aggregate production function surely represents the cornerstone of the neoclassical theory. However, its good fit implies the respect for a series of unrealistic and increasingly restrictive hypothesis. So, this article attempts to summarize and to analyze the most important objections to Cobb-Douglas function raised by heterodox economists.


L’utopia dell’Equilibrio Economico Generale

Nella concezione popolare, ma spesso anche in lavori teorici poco rigorosi, troviamo una visione mitica del capitalismo, come sistema di garantita efficienza: in questo mondo ideale ogni individuo massimizza la propria utilita’ soggetto a vincoli di bilancio, uguagliando i tassi di sostituzione fra vari beni che consuma ai loro prezzi relativi; ogni impresa massimizza il profitto uguagliando i tassi di sostituzione fra i vari inputs ai loro prezzi relativi, e il costo marginale del prodotto al suo prezzo.

The crisis of economics and Agent Based Models

Agent based models (ABM) is a methodology that can be applied to any model. It is valid for the DSGE as well as for “amateurs”: the Walras model is model of agents arranged on a star network, while the DSGE [e.g. Smets; Wouters, 2003] has identical agents, or non-interacting heterogeneous ones – that is, without networks. While the former do not show those aspects of complexity which are related to the real world, the present work is dedicated to the ones where the HIA generate complexity.





Many results in microeconomics are shaky

MICROECONOMISTS are wrong about specific things, Yoram Bauman, an economist and comedian, likes to say, whereas macroeconomists are wrong in general. Macroeconomists have borne the brunt of public criticism over the past decade, a period marked by financial crisis, soaring unemployment and bitter arguments between the profession’s brightest stars.Yet the vast majority of practising dismal scientists are microeconomists, studying the behaviour of people and firms in individual markets. Their work touches on all aspects of social policy.





Microeconomics explains why people can never have enough of what they want and how that influences policies

People struggle to get as much as possible while spending as little as possible. The economist Thomas Sowell has said there is never enough of anything to fully satisfy all those who want it.
This omnipresence of scarcity in our lives makes the study of human behavior compelling. Microeconomics is divided into the theory of the consumer, which focuses on people’s behavior in market settings, and the theory of the firm, which concentrates on how businesses act, once again in market settings.





Analysis and Discussion of Stackelberg Competition

As a matter of fact, the Stackelberg competition is the hardest and most common model in Microeconomics. In reality, it still appears anywhere even in recent years, which has been widely implemented in various fields including economic, business, medical industry and so on. For corporations or individual businessman, one has to have some mind about Stackelberg competition in order to have a higher reward in the business area based on game theory. With this in mind, in this article, it mainly describes from a businessman’s perspective in order to make it easier to understand.