Category archives: Economics

To approve or not to approve: this is not the question

To approve or not to approve: this is not the question

EconomicsSociology

By Invited Researcher

Voice and exit are often alternative ways of exerting influence, but with regard to voting the exit option spells no influence; only voice can have an effect[…] A. Lijphart In polls many citizens express some dissatisfaction with politicians. Usual ways to voice this dissatisfaction in elections are absenteeism, spoiled or blank vote, or voting for […]

The moral limits of markets (1): of fines and gifts

The moral limits of markets (1): of fines and gifts

EconomicsEthics

By Jesús Zamora Bonilla

Israeli nurseries are particularly famous amongst economists (at least, amongst experimental economists). An already classical study shown that, following a ‘natural experiment’ in which some day-care centers opted for issuing a fine to parents for late children’s pickups, while other nurseries didn’t, not only helped to decrease (as expected) the frequency of late pickups, but […]

The Grand Bazaar of Wisdom (2): Cost-benefit approaches to the growth of scientific knowledge

The Grand Bazaar of Wisdom (2): Cost-benefit approaches to the growth of scientific knowledge

EconomicsEpistemologyPhilosophy of science

By Jesús Zamora Bonilla

The first known application of modern economic techniques to solving epistemic problems in science was very explicit in describing the value of a scientific theory as the difference between ‘costs’ and ‘benefits’. I’m referring to Charles Sanders Peirce’s ‘Note of the Theory of the Economy of Research’, published in 1879, less than a decade after […]

Tax data and top incomes

Tax data and top incomes

Economics

By Ricardo Molero-Simarro

Tax data are an important source of information for a wide range of statistical series. Their use, however, has been mainly confined to the analysis of the impact of fiscal policies on different socio-economic groups. Nevertheless, a recent group of researchers has started using personal income tax data to construct top income shares series, i.e […]

Evidence of education as a signal

Evidence of education as a signal

Economics

By José Luis Ferreira

One of the aspects in which modern economics has departed further away from the neoclassical paradigm is the treatment of information after the seminal works of Akerlof, Spence and Stiglitz, who rightly won the Nobel prize for their contributions. Some theoretical models were introduced to explain economic phenomena that did not fit well in the […]