good economic theory research topics

Economic Theory Research Paper Topics

This page provides a comprehensive guide to economic theory research paper topics , aimed at students studying economics. The keyphrase for this page is “economic theory research paper topics”. The page offers 10 categories with 10 topics in each, expert advice on choosing and writing a research paper, and an overview of iResearchNet’s custom writing services for students.

Economic Theory Research Guide

Economics is a vast and complex subject that requires a lot of effort and critical thinking to master. The field of economic theory is particularly important for students of economics, as it provides the foundation for understanding the broader field of economics. Economic theory is a set of principles and concepts that explain how economies work and how people make decisions in the context of limited resources. Economic theory is a critical subject for students who wish to pursue a career in economics, as it helps them to understand the underlying principles of economic behavior.

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In this guide, we will explore economic theory research paper topics, which are of great importance for students of economics. The primary objective of this guide is to provide a comprehensive list of research paper topics that students can use as a starting point for their research. This guide will be particularly helpful for students who are struggling to find a suitable topic for their research paper.

The guide will be divided into several sections, each of which will explore a different category of economic theory research paper topics. The first section will provide an overview of economic theory and its importance in the field of economics. The second section will provide a list of research paper topics related to microeconomics, which is the study of the behavior of individual agents such as households and firms. The third section will focus on macroeconomics, which is the study of the behavior of the economy as a whole. The fourth section will explore econometrics, which is the application of statistical and mathematical methods to economic data. The fifth section will provide a list of research paper topics related to international economics, which is the study of the economic interactions between countries. The sixth section will explore behavioral economics, which is the study of how people make decisions in the context of limited resources. The seventh section will focus on game theory, which is the study of strategic decision-making. The eighth section will provide a list of research paper topics related to development economics, which is the study of how economies can be developed to promote growth and reduce poverty. The ninth section will explore financial economics, which is the study of how financial markets and institutions function. The tenth section will focus on industrial organization, which is the study of how firms interact with each other and with consumers in different market structures.

In the following sections, we will provide a detailed discussion of each category of economic theory research paper topics, along with a list of 10 potential research paper topics in each category. This guide will be particularly helpful for students who are struggling to find a suitable topic for their research paper.

100 Economic Theory Research Paper Topics

Economic theory research paper topics cover a wide range of areas in the field of economics, from classical theories to modern and emerging ones. Research papers in economic theory require students to delve deep into the theoretical concepts and their applications in the real world. To make this task easier, we have categorized economic theory research paper topics into ten distinct categories. Each category represents a different area of economic theory, with specific topics that students can choose from to write their research papers.

Classical Economics

Classical economics is a school of thought that emerged in the 18th century and lasted until the mid-19th century. The classical economists believed that the market economy was self-regulating and that the government should not interfere with it. The main ideas of classical economics were developed by Adam Smith, David Ricardo, and John Stuart Mill. This section will provide a list of 10 potential research paper topics related to classical economics.

• The ideas of Adam Smith and their impact on modern economics
• The theory of comparative advantage developed by David Ricardo
• The labor theory of value and its relevance in modern economics
• The concept of the invisible hand and its role in the market economy
• The influence of classical economics on the development of capitalism
• The impact of technological progress on classical economics
• The impact of classical economics on contemporary economic policy
• The role of government in classical economics
• The relevance of the Say’s Law in modern economics
• The classical economists and the debate on the role of money in the economy

Neoclassical Economics

Neoclassical economics is an approach that developed in the late 19th century and was prominent during the 20th century. It is based on the belief that the market is the most efficient allocator of resources and that individuals act rationally to maximize their own utility. Some potential research paper topics in neoclassical economics include:

• The concept of consumer surplus and its relevance in modern economic analysis
• Analysis of the factors that influence supply and demand curves in neoclassical economics
• The role of neoclassical economics in shaping public policy towards free trade
• An analysis of market efficiency and its implications in neoclassical economics
• The role of neoclassical economics in shaping public policy towards environmental conservation
• The impact of neoclassical economics on modern macroeconomic theory
• The importance of price discrimination in neoclassical economics
• The role of information asymmetry in neoclassical economics and its impact on market efficiency
• An analysis of the role of neoclassical economics in shaping monetary policy
• The relationship between neoclassical economics and international trade theory

Keynesian Economics

Keynesian economics is an economic theory developed by John Maynard Keynes in the 1930s. This theory focuses on the role of government intervention in the economy to address issues of unemployment and economic growth. Research topics in Keynesian economics may include government policies to address economic recessions, the effectiveness of fiscal stimulus packages, and the impact of monetary policies on aggregate demand. Here are ten potential research paper topics in Keynesian economics:

• The role of government in reducing income inequality using Keynesian economics
• Comparing the effectiveness of fiscal and monetary policies in stabilizing the economy
• Keynesian economics versus supply-side economics: a comparative analysis
• The Keynesian multiplier effect and its impact on economic growth
• The role of government spending in stimulating economic growth during times of recession
• The impact of trade policy on Keynesian economics in developing countries
• Keynesian economics and its impact on globalization and economic integration
• The effect of Keynesian economics on the European Union’s fiscal policy
• Keynesian economics and the role of government in addressing environmental issues
• The impact of technological advancement on the implementation of Keynesian economics

Monetarism is a macroeconomic theory that emphasizes the role of money supply in the economy. It was developed by economist Milton Friedman in the 1950s and 1960s, and gained prominence in the 1970s. Monetarists believe that changes in the money supply have a significant impact on the economy, and that the central bank should use monetary policy to stabilize economic activity. Research paper topics in monetarism could include:

• The relationship between money supply and inflation
• The effectiveness of monetary policy in stabilizing the economy
• The impact of changes in the money supply on interest rates
• The role of the central bank in implementing monetary policy
• The historical development of monetarism as an economic theory
• The implications of monetarism for economic growth
• The debate over the use of monetary policy versus fiscal policy in stabilizing the economy
• The impact of monetary policy on income inequality
• The role of expectations in the transmission of monetary policy
• The relevance of monetarism in the current economic context

Austrian Economics

Austrian economics is a school of economic thought that emphasizes the role of individual decision-making and market forces in the allocation of resources. This approach has gained popularity in recent years due to its focus on the importance of property rights, entrepreneurship, and free markets. Here are 10 potential research paper topics in Austrian economics:

• The impact of entrepreneurship on economic growth: An Austrian perspective
• Austrian economics and the rise of Bitcoin
• The Austrian theory of the business cycle: A critical analysis
• The role of property rights in Austrian economics
• Hayek’s concept of spontaneous order and its implications for economic policy
• Austrian economics and the economic calculation debate
• The impact of government intervention on entrepreneurship: An Austrian analysis
• The Austrian view of money and inflation
• Mises’ contribution to the development of Austrian economics
• The Austrian school and the economics of information

Institutional Economics

Institutional economics is a school of economic thought that focuses on the role of institutions and their impact on economic behavior and outcomes. Institutions include rules, norms, and organizations that structure economic activity, and institutional economists argue that they shape economic behavior and outcomes in profound ways. Topics in institutional economics include:

• The role of institutions in economic development
• The relationship between institutions and economic growth
• The impact of institutional change on economic outcomes
• The effects of property rights on economic behavior
• The role of institutions in shaping market outcomes
• The role of government in shaping institutional development
• The role of culture and social norms in institutional development
• The relationship between institutions and inequality
• The relationship between institutions and political economy
• The implications of institutional economics for economic policy-making

Game Theory

Game theory is a branch of mathematics that examines strategic decision-making between individuals or groups with competing interests. This category of economic theory is concerned with the analysis of decision-making under uncertainty and the consequences of such decision-making on the behavior of others. Some research paper topics in this area include:

• The application of game theory to oligopoly markets
• The use of game theory in strategic management
• Game theory and the social contract
• The impact of asymmetric information on decision-making in game theory
• The role of game theory in auction design
• The analysis of bargaining in game theory
• The application of game theory to voting systems
• The role of game theory in environmental regulation
• The impact of repeated games on decision-making
• The application of game theory to the study of conflicts and wars

Behavioral Economics

Behavioral economics is an interdisciplinary field that combines insights from psychology, sociology, neuroscience, and other social sciences to explain and predict economic decision-making. It challenges the traditional economic theory of rational actors making decisions based on complete information, by suggesting that individuals often make irrational choices due to cognitive biases, heuristics, and social influences. Some potential research paper topics in behavioral economics include:

• The impact of social norms on consumer behavior
• The role of emotions in decision-making
• The influence of framing effects on investor behavior
• The effect of choice architecture on retirement savings
• The role of moral considerations in charitable giving
• The impact of social networks on consumption behavior
• The effects of social comparisons on materialism
• The influence of peer pressure on risky behaviors
• The role of identity and self-image in economic decisions
• The effect of financial incentives on health behavior

Experimental Economics

Experimental economics is a subfield of economics that studies human behavior in a controlled laboratory setting, using economic experiments as a method of inquiry. Experimental economists use scientific methods to test economic theories, and their findings can have implications for policy-making and decision-making in the real world. Some potential research paper topics in experimental economics include:

• The role of social norms in economic decision-making
• The impact of incentives on behavior in economic games
• The effects of competition on pricing and market outcomes
• The effects of communication and information on bargaining outcomes
• The impact of trust on financial decision-making
• The role of emotions in economic decision-making
• The effects of group decision-making on economic outcomes
• The impact of fairness and reciprocity on economic decision-making
• The effects of time preferences on savings behavior
• The role of cognitive biases in economic decision-making

Development Economics

Development economics studies the economic and social progress of countries, especially in the context of low-income countries or developing countries. The field deals with issues such as poverty, inequality, and economic growth in developing countries, as well as the role of international trade, foreign aid, and institutions in promoting economic development. Potential research paper topics in development economics are:

• The impact of foreign aid on economic development
• The effectiveness of microfinance in reducing poverty
• The role of international trade in economic development
• The relationship between education and economic development
• The impact of natural resource abundance on economic growth
• The effectiveness of land reform policies in promoting economic development
• The impact of corruption on economic development
• The relationship between gender inequality and economic development
• The impact of globalization on economic development

In conclusion, economic theory research paper topics are diverse and complex, ranging from classical to modern theories. The categories we have outlined offer students a broad range of options to choose from for their research papers. As students select their topics, it is important to consider the research question, research methodology, and the relevance of the topic to the current economic landscape. With the right topic and a well-crafted research paper, students can make valuable contributions to the field of economics.

How to Choose an Economic Theory Topics

Choosing a research topic can be a daunting task, especially in the field of economic theory where there are numerous subfields and areas of study to explore. The following expert advice can help you narrow down your options and select a topic that is both interesting and manageable:

• Consider your interests : Start by considering your personal interests and what you find engaging about economic theory. Do you enjoy exploring theoretical frameworks or are you more interested in analyzing real-world economic issues? This will help guide you in choosing a research topic that aligns with your personal interests and expertise.
• Review recent literature : Conduct a literature review of recent economic theory research to identify gaps or areas where further investigation is needed. This can help you identify a research topic that is relevant and timely, and that builds upon existing research.
• Discuss with your professor : Consult with your professor or academic advisor about potential research topics. They can provide insight into current research trends and offer suggestions for topics that align with your skills and interests.
• Look for interdisciplinary connections : Consider how economic theory intersects with other disciplines, such as sociology, political science, or psychology. This can lead to research topics that are both unique and impactful.
• Use empirical data : Incorporate empirical data and analysis into your research, as this can provide a solid foundation for your arguments and make your research more impactful.
• Choose a manageable scope : Select a research topic that is manageable in terms of scope and time frame. Avoid overly broad or complex topics that are difficult to fully investigate within the time constraints of a research paper.
• Focus on originality : Aim to explore a unique perspective or approach to an existing economic theory concept or issue. This can lead to original and innovative research that contributes to the overall body of economic theory literature.
• Seek feedback : Seek feedback from your peers, professors, or academic mentors throughout the research process. This can help refine your research question and ensure that you are on track to produce a high-quality research paper.

Overall, the key to choosing an economic theory research paper topic is to find a topic that you are interested in and that allows you to explore a unique perspective or approach. By considering recent literature, consulting with experts, and using empirical data, you can develop a research question that is both timely and impactful. It is also important to choose a manageable scope and seek feedback throughout the research process to ensure that you are producing a high-quality paper.

How to Write an Economic Theory Research Paper

Writing an economic theory research paper requires a clear understanding of the topic, the research question, and the methodology to be used. The following are some tips to guide you in writing an effective economic theory research paper:

• Choose a Topic : Start by selecting a topic that interests you and that has enough research materials available to support your argument. It is also essential to choose a topic that is relevant and timely.
• Conduct In-Depth Research : Once you have selected a topic, the next step is to conduct in-depth research on the subject. Use a variety of sources such as academic journals, books, and government publications to gather information.
• Develop a Research Question : Your research question should be specific and focused, and it should guide your research. The research question should be informed by your chosen topic and should be able to guide the direction of your paper.
• Create an Outline : A well-organized outline can help you structure your paper and ensure that you include all the necessary elements. An outline can also help you stay focused and avoid getting sidetracked.
• Write the Introduction : The introduction should introduce the research question and provide a brief overview of the topic. The introduction should also provide a rationale for the study and explain why it is significant.
• Conduct the Analysis : This is the core of the paper and involves analyzing the data and drawing conclusions. Use appropriate statistical techniques and models to analyze the data and provide evidence to support your argument.
• Write the Conclusion : The conclusion should summarize the main findings of the study and provide a final perspective on the topic. The conclusion should also highlight the implications of the research and suggest areas for further research.
• Revise and Edit : After writing the paper, it is essential to revise and edit it carefully. Check for grammar and spelling errors, ensure that the paper flows logically, and that the formatting is consistent.
• Use Proper Citations : Be sure to use proper citations and referencing to give credit to the authors whose work you have used in your paper. This is essential to avoid plagiarism.
• Proofread : Finally, proofread your paper to ensure that it is error-free and that it meets the requirements of the assignment.

Writing an economic theory research paper can be challenging, but by following these steps, you can produce a well-researched and well-written paper that meets the requirements of your assignment.

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• Custom written works : We provide custom-written works that are tailored to your specific needs and requirements, ensuring that your paper is unique and original.
• In-depth research : Our writers conduct in-depth research to ensure that your paper is based on the latest and most reliable sources.
• Custom formatting : We can format your paper according to any style you need, including APA, MLA, Chicago/Turabian, Harvard, and more.
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In conclusion, economic theory research papers are essential in exploring the various aspects of the economy and the theories behind it. The 10 categories of economic theory research paper topics discussed in this article provide a framework for students to choose a topic that aligns with their interests and academic goals. However, selecting a topic can be overwhelming, and students need expert advice to make informed decisions. The expert advice provided in this article helps students to identify relevant and exciting research topics, and the writing tips equip them with the necessary skills to write an excellent paper. iResearchNet’s writing services also provide students with the option to buy a custom economic theory research paper that meets their specific needs. With these resources, students can achieve academic success and contribute to the advancement of economic theory.

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• 1. Managing CPRs

2. Behavioral Finance

3. asymmetric information, 4. game theory, 5. public choice theory.

• Honorable Mention: Black-Scholes

The Bottom Line

5 nobel prize-winning economic theories you should know about.

Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing.

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded 52 times to 86 Laureates who have researched and tested dozens of ground-breaking ideas. These five prize-winning economic theories are ideas you're likely to hear about in news stories because they apply to major aspects of our everyday lives.

Key Takeaways

• Elinor Ostrom was awarded the prize in 2009 for her research and analysis of the economics of common-pool resources.
• Daniel Kahneman's research on behavioral finance earned him the prize in 2002.
• The Nobel Prize committee honored George A. Akerlof, A. Michael Spence, and Joseph E. Stiglitz in 2001 for their work on asymmetric information.
• John C. Harsanyi, John F. Nash Jr., and Reinhard Selten received the prize in 1994 for research they conducted about the theory of non-cooperative games.
• James M. Buchanan developed the theory of public choice for which he received the Nobel Prize in 1986.

1. Managing Common Pool Resources (CPRs)

The term common pool resources (CPRs) refers to those that aren't owned by one particular entity. They're held by the government or they're allocated to privately owned lots that are made available to the general public. CPRs, or commons as they're commonly known, are those that are available to everyone but are in finite supply. They include forests, waterways and water basins, and fishing grounds.

Ecologist Garrett Hardin wrote " The Tragedy of the Commons ," which appeared in Science in 1968. He addressed the overpopulation of the human race in relation to these resources. Hardin surmised that everyone would act in their own best interests and would end up consuming as much as they possibly could. This would make these resources even harder for others to find.

Indiana University political science professor Elinor Ostrom became the first woman to win the prize in 2009. She received it "for her analysis of economic governance, especially the commons."

Ostrom's Groundbreaking Research

Ostrom's research showed how groups work together to manage common resources such as water supplies, fish, lobster stocks, and pastures through collective property rights. She showed that Hardin's prevailing tragedy of the commons theory isn't the only possible outcome or even the most likely outcome when people share a common resource.

Ostrom showed that CPRs can be effectively managed collectively without government or private control as long as those who use the resource are physically close to it and have a relationship with each other.

Outsiders and government agencies don't understand local conditions or norms and they lack relationships with the community so they may manage common resources poorly. By contrast, insiders with a say in resource management will self-police to ensure that all participants follow the community's rules.

You can read about Ostrom's prize-winning research in her book, Governing the Commons: The Evolution of Institutions for Collective Action , and in her 1999 Science journal article, "Revisiting the Commons: Local Lessons, Global Challenges."

Behavioral finance is a form of behavioral economics. It studies the psychological influences and biases that affect the behavior and decisions of investors as well as financial professionals. These influences and biases tend to explain various market anomalies, especially those found in the stock market. This includes very drastic increases and drops in the price of securities.

Psychologist Daniel Kahneman was awarded the prize in 2002 "for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty."

Kahneman's Work

Kahneman showed that people do not always act out of rational self-interest as the economic theory of expected utility maximization would predict. This concept is crucial to behavioral finance. The research identified common cognitive biases that cause people to use faulty reasoning to make irrational decisions. These biases include the anchoring effect, the planning fallacy, and the illusion of control.

He conducted his research with Amos Tversky but Tversky wasn't eligible to receive the prize because he died in 1996.

Kahneman and Tversky's Theory

"Prospect Theory: An Analysis of Decision Under Risk," is one of the most frequently cited articles in economics journals. Kahneman and Tversky's award-winning prospect theory shows how people make decisions in uncertain situations.

They demonstrated that we tend to use irrational guidelines such as perceived fairness and loss aversion. They're based on emotions, attitudes, and memories, not logic. Kahneman and Tversky observed that we expend more effort just to save a few dollars on a small purchase than to save the same amount on a large purchase.

Kahneman and Tversky also showed that people use general rules such as representativeness to make judgments that contradict the laws of probability. When given the description of a woman concerned about discrimination and asked if she is more likely to be a bank teller or a bank teller who is a feminist activist, people tend to assume she is the latter even though probability laws tell us she is much more likely to be the former.

The Nobel Prize is not awarded posthumously.

The asymmetric information discipline is also known as information failure. It occurs when one party involved in an economic transaction has much more knowledge than the other. This phenomenon typically presents itself when the seller of a  good or service possesses greater knowledge than the buyer but the reverse dynamic may also be possible in some cases. Almost all economic transactions involve asymmetric information.

George A. Akerlof, A. Michael Spence, and Joseph E. Stiglitz won the prize "for their analyses of markets with asymmetric information" in 2001. The trio showed that economic models that are predicated on perfect information are often misguided because one party often has superior information in a transaction.

Understanding information asymmetry has improved our knowledge of how various markets work and the importance of corporate transparency. These concepts have become so widespread that we take them for granted but they were groundbreaking when they were first developed.

Akerlof, Spence, and Stiglitz's Research

Akerlof showed how information asymmetries in the used car market, where sellers know more than buyers about the quality of their vehicles, can create a market with lemons, a concept known as " adverse selection ". A key publication related to this prize is Akerlof's 1970 journal article, "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism."

Spence's research focused on signaling or how better-informed market participants can transmit information to lesser-informed participants. He showed how job applicants can use educational attainment as a signal to prospective employers about their likely productivity and how corporations can signal their profitability to investors by issuing dividends.

Stiglitz showed how insurance companies can learn which customers present a greater risk of incurring high expenses. He called this process screening. Asymmetric information occurs by offering different combinations of deductibles and premiums , according to Stiglitz.

The theory of non-cooperative games is a branch of the analysis of strategic interaction commonly known as game theory . Non-cooperative games are those in which participants make non-binding agreements. Each participant bases his or her decisions on how he or she expects the other participants to behave without knowing how they will actually behave.

The academy awarded the 1994 prize to John C. Harsanyi, John F. Nash Jr., and Reinhard Selten "for their pioneering analysis of equilibria in the theory of non-cooperative games."

Harsanyi, Nash, and Selten's Analysis

One of Nash's major contributions was the Nash Equilibrium , a method for predicting the outcome of non-cooperative games based on equilibrium. Nash's 1950 doctoral dissertation, "Non-Cooperative Games," details his theory. The Nash Equilibrium expanded upon earlier research on two-player, zero-sum games .

Selten applied Nash's findings to dynamic strategic interactions and Harsanyi applied them to scenarios with incomplete information to help develop the field of information economics. Their contributions are widely used in economics, such as in the analysis of oligopoly and the theory of industrial organization. They've inspired fields of research.

This theory attempts to provide the rationale behind public decisions. It involves the participation of the general public, elected officials, and political committees, along with the bureaucracy that's set up by society. James M. Buchanan Jr. developed the public choice theory with Gordon Tullock.

James M. Buchanan Jr. received the prize in 1986 "for his development of the contractual and constitutional bases for the theory of economic and political decision-making."

Buchanan's Award-Winning Theory

Buchanan's major contributions to public choice theory bring together insights from political science and economics to explain how public-sector actors such as politicians and bureaucrats make decisions. Contrary to the conventional wisdom, he showed that:

• Public sector actors behave in the public's best interest as public servants.
• Politicians and bureaucrats tend to act in self-interest, the same way private sector actors like consumers and entrepreneurs do.

He described his theory as "politics without romance." Buchanan laid out his award-winning theory in a book he co-authored with Gordon Tullock in 1962, The Calculus of Consent: Logical Foundations of Constitutional Democracy .

We can get a better understanding of the incentives that motivate political actors and better predict the results of political decision-making using Buchanan's insights about the political process, human nature, and free markets . We can then design fixed rules that are more likely to lead to desirable outcomes.

Instead of allowing deficit spending which political leaders are motivated to engage in because each program the government funds earns politicians support from a group of voters, we can impose a constitutional restraint on government spending, which benefits the general public by limiting the tax burden.

Honorable Mention: Black-Scholes Theorem

Robert Merton and Myron Scholes won the 1997 Nobel Prize in economics for the Black-Scholes theorem , a key concept in modern financial theory that's commonly used for valuing European options and employee stock options.

The formula is complicated but investors can use an online options calculator to get its results by inputting an option's strike price, the underlying stock's price, the option's time to expiration, its volatility, and the market's risk-free interest rate. Fischer Black also contributed to the theorem but couldn't receive the prize because he passed away in 1995.

What Is the Anchoring Effect?

The Program on Negotiation at Harvard Law School describes the anchoring effect as a "cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered...when making decisions." That first piece of information is the "anchor."

What Is Another Component of Asymmetric Information?

Adverse selection and moral hazard are two common versions of asymmetric information. Both imply an unlevel playing field. One party is more knowledgeable about the subject at hand than the other. Adverse selection implies that one party has information that the other doesn't possess. Moral hazard is associated with one party taking risks in a transaction because they know they won't be held accountable financially or morally.

Who Decides Who Wins the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel?"

The Royal Swedish Academy of Sciences makes the final decision among nominees based on recommendations from the Economic Sciences Prize Committee. Nomination is by invitation only. The Committee then screens the candidates.

Each of the dozens of winners of the Nobel memorial prize in economics has made outstanding contributions to the field. The other award-winning theories are worth getting to know, too. Working knowledge of the theories described here will help you establish yourself as someone who is in touch with the economic concepts that are essential to our lives.

The Nobel Prize Organisation. " About the Prize ."

The Nobel Prize Organisation. “ Elinor Ostrom: Facts .”

Science.org. “ Revisiting the Commons: Local Lessons, Global Challenges .”

Cambridge University Press. “ Governing the Commons: The Evolution of Institutions for Collective Action .”

CFI Education. " Behavioral Finance ."

The Nobel Prize Organisation. “ The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2002 .”

The Nobel Prize Organisation. “ Daniel Kahneman—Biographical .”

The Nobel Prize Organisation. " Information for the Public ."

The Nobel Prize Organisation. " George A. Akerlof Article ."

The Nobel Prize Organisation. " Press Release 11 October 1994 ."

San Jose State University Economics Department. " Public Choice Theory ."

The Nobel Prize Organisation. “ Press Release 16 October 1986 ."

The Nobel Prize Organisation. " Press Release 14 October 1997 ."

Program on Negotiation Harvard Law School. " The Anchoring Effect and How It Can Impact Your Negotiation ."

Intelligent Economist. " Asymmetric Information ."

The Nobel Prize Organisation. " Nomination and Selection of Economic Sciences Laureates ."

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• Demand Curves: What Are They, Types, and Example 14 of 39
• Supply 15 of 39
• The Law of Supply Explained, With the Curve, Types, and Examples 16 of 39
• Supply Curve Definition: How It Works With Example 17 of 39
• Elasticity: What It Means in Economics, Formula, and Examples 18 of 39
• Price Elasticity of Demand: Meaning, Types, and Factors That Impact It 19 of 39
• Elasticity vs. Inelasticity of Demand: What's the Difference? 20 of 39
• What Is Inelastic? Definition, Calculation, and Examples of Goods 21 of 39
• What Affects Demand Elasticity for Goods and Services? 22 of 39
• What Factors Influence a Change in Demand Elasticity? 23 of 39
• Utility in Economics Explained: Types and Measurement 24 of 39
• Utility in Microeconomics: Origins, Types, and Uses 25 of 39
• Utility Function Definition, Example, and Calculation 26 of 39
• Definition of Total Utility in Economics, With Example 27 of 39
• Marginal Utilities: Definition, Types, Examples, and History 28 of 39
• What Is the Law of Diminishing Marginal Utility? With Example 29 of 39
• What Does the Law of Diminishing Marginal Utility Explain? 30 of 39
• Economic Equilibrium 31 of 39
• What Is the Income Effect? Its Meaning and Example 32 of 39
• Indifference Curves in Economics: What Do They Explain? 33 of 39
• Consumer Surplus Definition, Measurement, and Example 34 of 39
• What Is Comparative Advantage? 35 of 39
• What Are Economies of Scale? 36 of 39
• Perfect Competition: Examples and How It Works 37 of 39
• What Is the Invisible Hand in Economics? 38 of 39
• Market Failure: What It Is in Economics, Common Types, and Causes 39 of 39

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Economics →

• 29 Jan 2024
• Research & Ideas

Do Disasters Rally Support for Climate Action? It's Complicated.

Reactions to devastating wildfires in the Amazon show the contrasting realities for people living in areas vulnerable to climate change. Research by Paula Rettl illustrates the political ramifications that arise as people weigh the economic tradeoffs of natural disasters.

• 10 Jan 2024

Technology and COVID Upended Tipping Norms. Will Consumers Keep Paying?

When COVID pushed service-based businesses to the brink, tipping became a way for customers to show their appreciation. Now that the pandemic is over, new technologies have enabled companies to maintain and expand the use of digital payment nudges, says Jill Avery.

• 17 Aug 2023

‘Not a Bunch of Weirdos’: Why Mainstream Investors Buy Crypto

Bitcoin might seem like the preferred tender of conspiracy theorists and criminals, but everyday investors are increasingly embracing crypto. A study of 59 million consumers by Marco Di Maggio and colleagues paints a shockingly ordinary picture of today's cryptocurrency buyer. What do they stand to gain?

• 15 Aug 2023

Why Giving to Others Makes Us Happy

Giving to others is also good for the giver. A research paper by Ashley Whillans and colleagues identifies three circumstances in which spending money on other people can boost happiness.

• 13 Mar 2023

What Would It Take to Unlock Microfinance's Full Potential?

Microfinance has been seen as a vehicle for economic mobility in developing countries, but the results have been mixed. Research by Natalia Rigol and Ben Roth probes how different lending approaches might serve entrepreneurs better.

• 23 Jan 2023

After High-Profile Failures, Can Investors Still Trust Credit Ratings?

Rating agencies, such as Standard & Poor’s and Moody's, have been criticized for not warning investors of risks that led to major financial catastrophes. But an analysis of thousands of ratings by Anywhere Sikochi and colleagues suggests that agencies have learned from past mistakes.

• 29 Nov 2022

How Much More Would Holiday Shoppers Pay to Wear Something Rare?

Economic worries will make pricing strategy even more critical this holiday season. Research by Chiara Farronato reveals the value that hip consumers see in hard-to-find products. Are companies simply making too many goods?

• 21 Nov 2022

Buy Now, Pay Later: How Retail's Hot Feature Hurts Low-Income Shoppers

More consumers may opt to "buy now, pay later" this holiday season, but what happens if they can't make that last payment? Research by Marco Di Maggio and Emily Williams highlights the risks of these financing services, especially for lower-income shoppers.

• 01 Sep 2022
• What Do You Think?

Is It Time to Consider Lifting Tariffs on Chinese Imports?

Many of the tariffs levied by the Trump administration on Chinese goods remain in place. James Heskett weighs whether the US should prioritize renegotiating trade agreements with China, and what it would take to move on from the trade war. Open for comment; 0 Comments.

• 05 Jul 2022

Have We Seen the Peak of Just-in-Time Inventory Management?

Toyota and other companies have harnessed just-in-time inventory management to cut logistics costs and boost service. That is, until COVID-19 roiled global supply chains. Will we ever get back to the days of tighter inventory control? asks James Heskett. Open for comment; 0 Comments.

• 09 Mar 2022

War in Ukraine: Soaring Gas Prices and the Return of Stagflation?

With nothing left to lose, Russia's invasion of Ukraine will likely intensify, roiling energy markets further and raising questions about the future of globalization, says Rawi Abdelal. Open for comment; 0 Comments.

• 10 Feb 2022

Why Are Prices So High Right Now—and Will They Ever Return to Normal?

And when will sold-out products return to store shelves? The answers aren't so straightforward. Research by Alberto Cavallo probes the complex interplay of product shortages, prices, and inflation. Open for comment; 0 Comments.

• 11 Jan 2022
• Cold Call Podcast

Can Entrepreneurs and Governments Team Up to Solve Big Problems?

In 2017, Shield AI’s quadcopter, with no pilot and no flight plan, could clear a building and outpace human warfighters by almost five minutes. It was evidence that autonomous robots could help protect civilian and service member lives. But was it also evidence that Shield AI—a startup barely two years past founding—could ask their newest potential customer, the US government, for a large contract for a system of coordinated, exploring robots? Or would it scare them away? Harvard Business School professor Mitch Weiss and Brandon Tseng, Shield AI’s CGO and co-founder, discuss these and other challenges entrepreneurs face when working with the public sector, and how investing in new ideas can enable entrepreneurs and governments to join forces and solve big problems in the case, “Shield AI.” Open for comment; 0 Comments.

• 06 May 2021

How Four Women Made Miami More Equitable for Startups

A case study by Rosabeth Moss Kanter examines what it takes to break gender barriers and build thriving businesses in an emerging startup hub. Open for comment; 0 Comments.

• 20 Apr 2021
• Working Paper Summaries

The Emergence of Mafia-like Business Systems in China

This study sheds light on the political pathology of fraudulent, illegal, and corrupt business practices. Features of the Chinese system—including regulatory gaps, a lack of formal means of property protection, and pervasive uncertainty—seem to facilitate the rise of mafia systems.

• 02 Feb 2021

Nonprofits in Good Times and Bad Times

Tax returns from millions of US nonprofits reveal that charities do not expand during bad times, when need is the greatest. Although they are able to smooth the swings of their activities more than for-profit organizations, nonprofits exhibit substantial sensitivity to economic cycles.

• 01 Feb 2021

Has the New Economy Finally Arrived?

Economists have long tied low unemployment to inflation. James Heskett considers whether the US economic policy of the past four years has shaken those assumptions. Open for comment; 0 Comments.

• 06 Jan 2021

Aggregate Advertising Expenditure in the US Economy: What's Up? Is It Real?

We analyze total United States advertising spending from 1960 to 2018. In nominal terms, the elasticity of annual advertising outlays with respect to gross domestic product appears to have increased substantially beginning in the late 1990s, roughly coinciding with the dramatic growth of internet-based advertising.

• 11 Dec 2020

Economic Jitters Push Pandemic Job Seekers to Big Companies, Not Startups

Small companies are receiving fewer applications, particularly from experienced professionals, according to research by Shai Bernstein and colleagues. How can startups overcome pandemic fears and compete for talent? Open for comment; 0 Comments.

• 08 Dec 2020

Party-State Capitalism in China

China’s political economy has evolved from “state capitalism” to a distinctly party-driven incarnation. Party-state capitalism, via enhanced party monitoring and industrial policy, deepens ambiguity between the state and private sectors, and increases pressure on foreign capital, prioritizing the regime’s political survival above all.

Papers to appear

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Non-smooth integrability theory

• Yuhki Hosoya

Uniformly strict equilibrium for repeated games with private monitoring and communication

• Richard McLean
• Ichiro Obara
• Andrew Postlewaite

Contests on networks

• Alexander Matros
• David Rietzke

On the consistency among prior, posteriors, and information sets

• Satoshi Fukuda

Momentum in contests and its underlying behavioral mechanisms

• Greg Kubitz
• Lionel Page

R &d and market sharing agreements

• Jérôme Dollinger
• Ana Mauleon
• Vincent Vannetelbosch

Expectations, beliefs and the business cycle: tracing back to the deep economic drivers

• Frédéric Dufourt
• Kazuo Nishimura
• Alain Venditti

Level- k thinking in the extensive form

• Burkhard C. Schipper

Existence of Walrasian equilibria with discontinuous, non-ordered, interdependent preferences, without free disposal, and with an infinite-dimensional commodity space

• Konrad Podczeck
• Nicholas C. Yannelis

Aggregation of misspecified experts

• Bach Dong-Xuan

Plea bargaining when juror effort is costly

• Brishti Guha

Evolution of cooperation in the indefinitely repeated collective action with a contest for power

• Yaroslav Rosokha
• Sergey Gavrilets

Perfect robust implementation by private information design

• Maxim Ivanov

Mechanisms and axiomatics for division problems with single-dipped preferences

• Doudou Gong
• Bas Dietzenbacher
• Hans Peters

Efficiency and equity in a socially-embedded economy

• Marc Fleurbaey
• Ravi Kanbur
• Dennis Snower

Long-run belief-scarring effects of COVID-19 in a global economy

• Wen-Tai Hsu
• Hsuan-Chih (Luke) Lin

Moral preferences in bargaining

• Pau Juan-Bartroli
• Emin Karagözoğlu

Ranking blame

• Zhuzhu Zhou

Introduction to the special issue on mathematical economic epidemiology models

• Raouf Boucekkine
• Ted Loch-Temzelides

The value of information in stopping problems

• Ehud Lehrer

Hidden advertisement, signaling, and directed search

• Ji-Woong Moon

Preventive-service fraud in credence good markets

Information exchange through secret vertical contracts.

• Nicolás Riquelme

Optimal lockdown and vaccination policies to contain the spread of a mutating infectious disease

• Fabien Prieur
• Weihua Ruan
• Benteng Zou

An assignment problem with interdependent valuations and externalities

• Tatiana Daddario
• Richard P. McLean

Environmental quality along the process of economic growth: a theoretical reappraisal

• Maxime Menuet
• Alexandru Minea
• Anastasios Xepapadeas

Achieving the maximum size for exchange problems with dichotomous preferences

The economic impact of lockdown and bounded treatment capability for an epidemic without vaccine.

• Konstantin Kogan
• Fouad El Ouardighi

Static and dynamic inefficiencies in an optimizing model of epidemics

• Pietro Garibaldi
• Espen R. Moen
• Christopher A. Pissarides

Optimal allocations in growth models with private information

• Martin Scheffel

Entrepreneurship and misallocation in production network economies

• Tiago Cavalcanti
• Angelo Mendes
• Pierluca Pannella

Diversification and information in contests

• Jorge Lemus
• Emil Temnyalov

Epictetusian rationality

• Gregory Ponthiere

Allocation rules of indivisible prizes in team contests

• Hideo Konishi
• Nicolas Sahuguet
• Benoît S. Y. Crutzen

Vertical contracting between a vertically integrated firm and a downstream rival

• Frago Kourandi
• Ioannis N. Pinopoulos

Ambiguity and partial Bayesian updating

• Matthew Kovach

Demand operators and the Dutta–Kar rule for minimum cost spanning tree problems

• Changyong Han
• Youngsub Chun

Dynamic preference foundations of expected exponentially-discounted utility

• Craig S. Webb

Unbeatable strategies

• Igor V. Evstigneev
• Valeriya Potapova

Solving multidimensional screening problems using a generalized single crossing property

• William Dodds

Marginal pricing equilibrium with externalities in Riesz spaces

• Jean-Marc Bonnisseau
• Matías Fuentes

Signaling through entry in auctions with sequential and costly participation

• Jeongwoo Lee

Revealed statistical consumer theory

• Paweł Dziewulski
• John Rehbeck

Persuasion with ambiguous receiver preferences

• Eitan Sapiro-Gheiler

Information aggregation in large collective purchases

• Itai Arieli
• Moran Koren
• Rann Smorodinsky

Performance cycles

• David Lagziel

Contributing with private bundles to public goods

• Marta Faias
• Mercedes Guevara-Velázquez
• Emma Moreno-García

Epidemic outbreaks and the optimal lockdown area: a spatial normative approach

• Davide La Torre
• Danilo Liuzzi
• Simone Marsiglio

Bounded arbitrage and nearly rational behavior

• Leandro Nascimento

Dynamic discrete choice under rational inattention

• Jianjun Miao
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