The Making of Neoclassical Economics (Routledge Revivals)

Henry, John F.

doi:10.4324/9780203828755

Cited by 17 publications

(19 citation statements)

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“…The second approach has been developed by economists in the context of the 'marginalist revolution' and of work on partial equilibrium and general equilibrium theory (Henry, 2012). The first has been developed primarily in game theory and deals with direct interaction between multiple agents.…”

Section: The Theoretical Assumptions Of Rational Choice Economicsmentioning

confidence: 99%

“…It analyses the conditions under which independent subjects arrive at mutually acceptable situations in which nobody has an incentive to unilaterally change strategy: the Nash equilibrium. The second approach has been developed by economists in the context of the 'marginalist revolution' and of work on partial equilibrium and general equilibrium theory (Henry, 2012). It focuses on 'impersonal' market interactions, driven by price signals determined by supply and demand.…”

Section: The Theoretical Assumptions Of Rational Choice Economicsmentioning

confidence: 99%

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Motivations to Contribute to Public Goods: Beyond rational choice economics

Popa¹

2015

Env Pol Gov

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The dominant understanding of how motivations to contribute to public goods are generated and sustained is largely shaped by the combined action of rational choice theory and neoclassical economics. This understanding relies on three key assumptions: individualism, instrumentalism and market equilibration. This paper questions the theoretical consistency and empirical relevance of these assumptions and of their associated policy model. I argue that a significant revision of this motivational theory is needed, one that takes into account intrinsic incentives, trust and strong reciprocity, as well as the effect of social and institutional context, monetization and market interactions on the propensity to contribute to public goods. The paper concludes by outlining the implications of this theoretical reconsideration for the organization of scientific research and for more effective policy-making to sustain public goods provision.

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Section: The Theoretical Assumptions Of Rational Choice Economicsmentioning

confidence: 99%

Section: The Theoretical Assumptions Of Rational Choice Economicsmentioning

confidence: 99%

Motivations to Contribute to Public Goods: Beyond rational choice economics

Popa¹

2015

Env Pol Gov

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“…That is, the well‐being, not to mention survival and reproduction, of workers and their households are not guaranteed by the market provisioning process as long as it is controlled by the business enterprises. In this regard, “[b]asically, one class—capitalists—organizes to restrict the economic well‐being of the community as a whole in order to advantage itself” (Henry : 178).…”

Section: Control Of Market Institutions By Business Enterprises and Tmentioning

confidence: 99%

Saving Private Business Enterprises

Jo¹

2013

American J Econ Sociol

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This article develops an argument from a heterodox microeconomic perspective that the business enterprise and the state have to control market institutions in order to protect the vested interests of the ruling class. Market governance by the business enterprise and market regulation by the state are in this regard purposeful and necessary actions to save private business enterprises vis‐à‐vis fundamental instability inherent in the capitalist system.

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“…Thorstein Veblen and other institutionalists have taught me that the first principle of institutional economics is the worldview that everything changes (see, for example, Veblen 1898; see also Henry 1990; O'Hara 2014). As nothing is sacred, unchanging, and universal, a theory -be it developed by Veblen or Lee -should be questioned, refined, or rejected because an economic theory is a socially constructed, joint stock of knowledge that is subject to verification in a constantly changing cultural and historical context.…”

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confidence: 98%

What If There Are No Conventional Price Mechanisms?

Jo¹

2016

Journal of Economic Issues

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The Making of Neoclassical Economics (Routledge Revivals)

Cited by 17 publications

References 0 publications

Motivations to Contribute to Public Goods: Beyond rational choice economics

Motivations to Contribute to Public Goods: Beyond rational choice economics

Saving Private Business Enterprises

What If There Are No Conventional Price Mechanisms?

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