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, ...

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 ...

It is by now well-recognised that geopolitical risks combined with impulsive and non-uniform drifts of a dominant economy like the US in trade and other economic policies have contributed to ...

The following comments, about the article “Economics in an Age of Fracture,” by Daniel T. Rodgers (The Chronicle Review, January 14), are from chronicle. com: I don’t find the word “finance” in the ...

The corona crisis has obliterated, one hopes for all time, certain shibboleths of the economic textbooks and the Congressional Budget Office. Among these, especially, are crowding out, deficit and ...

With every new administration there are hopes on the part of roughly a half of the population and dread on the other. It flips like a coin. A random walk, for the probability fans out there, that ...

Macroeconomics studies an overall economy or market system, its behaviors, the factors that drive it, and how to improve its performance.

We don't always behave the way economic models say we will. We don't save enough for retirement. We order dessert when we're supposed to be dieting. We give donations when we could keep our money for ...

For more than a century, economists have tried to reduce economics to a series of mathematical equations and statistical ...

Economics is the study of the allocation of scarce resources. The subject of this course is microeconomics, which examines the decision making of individuals and firms with regard to consumption, ...

Regret theory postulates that decision‐makers do not solely evaluate outcomes based on traditional expected utility; they also incorporate the anticipated emotional response resulting from realising ...