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Homo Reciprocans
''Homo reciprocans'', or reciprocating human, is the concept in some economic theories of humans as cooperative actors who are motivated by improving their environment through positive reciprocity (rewarding other individuals) or negative reciprocity (punishing other individuals), even in situations without foreseeable benefit for themselves. This concept stands in contrast to the idea of ''homo economicus'', which states the opposite theory that human beings are exclusively motivated by self-interest. However, the two ideas can be reconciled if we assume that utility functions of the ''homo economicus'' can have parameters that are dependent to the perceived utility of other agents (such as one's spouse or children). Kropotkin Russian theorist Peter Kropotkin wrote about the concept of "mutual aid" in the early part of the 20th century. Examples The ''Homo reciprocans'' concept states that human being players interact with a propensity to cooperate. They will compromise in orde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Theories
Economics () is a behavioral science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what is viewed as basic elements within economies, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and investment expenditure interact; and the factors of production affecting them, such as: labour, capital, land, and enterprise, inflation, economic growth, and public policies that impact these elements. It also seeks to analyse and describe the global economy. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocatin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moral Psychology
Moral psychology is the study of human thought and behavior in ethical contexts. Historically, the term "moral psychology" was used relatively narrowly to refer to the study of moral development. This field of study is interdisciplinary between the application of philosophy and psychology. Moral psychology eventually came to refer more broadly to various topics at the intersection of ethics, psychology, and philosophy of mind. Some of the main topics of the field are moral judgment, moral reasoning, moral satisficing, moral sensitivity, moral responsibility, moral motivation, moral identity, moral action, moral development, moral diversity, moral character (especially as related to virtue ethics), altruism, psychological egoism, moral luck, moral forecasting, moral emotion, affective forecasting, and moral disagreement. Today, moral psychology is a thriving area of research spanning many disciplines, with major bodies of research on the biological, cognitive/computational and cultu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Queensland
The University of Queensland is a Public university, public research university located primarily in Brisbane, the capital city of the Australian state of Queensland. Founded in 1909 by the Queensland parliament, UQ is one of the six sandstone universities, an informal designation of the oldest university in each state. UQ is also a founding member of edX, Australia's leading Group of Eight (Australian universities), Group of Eight and the international research-intensive Association of Pacific Rim Universities. The main #St Lucia campus, St Lucia campus occupies much of the riverside inner suburb of St Lucia, Queensland, St Lucia, southwest of the Brisbane central business district. Other UQ campuses and facilities are located throughout Queensland, the largest of which are the University of Queensland Gatton Campus, Gatton campus and the Herston campus, notably including the University of Queensland Mayne Medical School, Mayne Medical School. UQ's overseas establishments incl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Master Of Science
A Master of Science (; abbreviated MS, M.S., MSc, M.Sc., SM, S.M., ScM or Sc.M.) is a master's degree. In contrast to the Master of Arts degree, the Master of Science degree is typically granted for studies in sciences, engineering and medicine and is usually for programs that are more focused on scientific and mathematical subjects; however, different universities have different conventions and may also offer the degree for fields typically considered within the humanities and social sciences. While it ultimately depends upon the specific program, earning a Master of Science degree typically includes writing a thesis. The Master of Science degree was introduced at the University of Michigan in 1858. One of the first recipients of the degree was De Volson Wood, who was conferred a Master of Science degree at the University of Michigan in 1859. Algeria Algeria follows the Bologna Process. Australia Australian universities commonly have coursework or research-based Master o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Melbourne
The University of Melbourne (colloquially known as Melbourne University) is a public university, public research university located in Melbourne, Australia. Founded in 1853, it is Australia's second oldest university and the oldest in the state of Victoria (Australia), Victoria. Its Parkville Campus (University of Melbourne), main campus is located in Parkville, Victoria, Parkville, an inner suburb north of Melbourne central business district, Melbourne's central business district, with several other campuses located across the state of Victoria (Australia), Victoria. Incorporated in the 19th century by the State of Victoria, colony of Victoria, the University of Melbourne is one of Australia's six sandstone universities and a member of the Group of Eight (Australian universities), Group of Eight, Universitas 21, Washington University in St. Louis, Washington University's McDonnell International Scholars Academy, and the Association of Pacific Rim Universities. Since 1872, many ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bachelor Of Commerce
A Bachelor of Commerce (BCom or B Com) is an undergraduate degree in commerce, accounting, mathematics, economics, and management-related subjects. The degree is mainly offered in Commonwealth nations. Structure Bachelor of Commerce The Bachelor of Commerce degree is designed to provide students with a wide range of managerial skills, while building competence in a particular area of business; see aside listing. For a comparison with other business degrees, see . Most universities, therefore, plan the degree such that in addition to their major, students are exposed to general business principles, taking courses in accounting, finance, economics, business management, human resources and marketing. Programs often require foundational courses in business statistics and mathematics, and information systems. Depending on the institution, a formal academic major may or may not be established. Regardless, a Bachelor of Commerce degree requires students to take the majority o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Cambridge
The University of Cambridge is a Public university, public collegiate university, collegiate research university in Cambridge, England. Founded in 1209, the University of Cambridge is the List of oldest universities in continuous operation, world's third-oldest university in continuous operation. The university's founding followed the arrival of scholars who left the University of Oxford for Cambridge after a dispute with local townspeople. The two ancient university, ancient English universities, although sometimes described as rivals, share many common features and are often jointly referred to as Oxbridge. In 1231, 22 years after its founding, the university was recognised with a royal charter, granted by Henry III of England, King Henry III. The University of Cambridge includes colleges of the University of Cambridge, 31 semi-autonomous constituent colleges and List of institutions of the University of Cambridge#Schools, Faculties, and Departments, over 150 academic departm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Drexel University
Drexel University is a private university, private research university with its main campus in Philadelphia, Pennsylvania, United States. Drexel's undergraduate school was founded in 1891 by Anthony Joseph Drexel, Anthony J. Drexel, a financier and philanthropist. Founded as Drexel Institute of Art, Science and Industry, it was renamed Drexel Institute of Technology in 1936, before assuming its current name in 1970. , more than 24,000 students were enrolled in over 70 undergraduate programs and more than 100 master's, doctoral, and professional programs at the university. Drexel's cooperative education program (co-op) is a unique aspect of the school's degree programs, offering students the opportunity to gain up to 18 months of paid, full-time work experience in a field relevant to their undergraduate major or graduate degree program prior to graduation. History 19th century Drexel University was founded in 1891 as the Drexel Institute of Art, Science and Industry by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strong Reciprocity
Strong reciprocity is an area of research in behavioral economics, evolutionary psychology, and evolutionary anthropology on the predisposition to cooperate even when there is no apparent benefit in doing so. This topic is particularly interesting to those studying the evolution of cooperation, as these behaviors seem to be in contradiction with predictions made by many models of cooperation. In response, current work on strong reciprocity is focused on developing evolutionary models which can account for this behavior. Critics of strong reciprocity argue that it is an artifact of lab experiments and does not reflect cooperative behavior in the real world. Evidence for strong reciprocity Experimental evidence A variety of studies from experimental economics provide evidence for strong reciprocity, either by demonstrating people's willingness to cooperate with others, or by demonstrating their willingness to take costs on themselves to punish those who do not. Evidence for cooperat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Samuel Bowles (economist)
Samuel Stebbins Bowles (; born June 1, 1939), is an American economist and professor emeritus at the University of Massachusetts Amherst, where he continues to teach courses on microeconomics and the theory of institutions. His work belongs to the neo-Marxian (variably called post-Marxian) tradition of economic thought. However, his perspective on economics is eclectic and draws on various schools of thought, including what he and others refer to as post- Walrasian economics. Biography Bowles, the son of U.S. Ambassador and Connecticut Governor Chester Bowles, graduated with a B.A. from Yale University in 1960, where he was a founding member of the Yale Russian Chorus, participating in their early tours of the Soviet Union. Subsequently, he received his Ph.D. in economics from Harvard University in 1965 with the thesis titled ''The Efficient Allocation of Resources in Education: A Planning Model with Applications to Northern Nigeria''. In 1973, the Economics Department of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rational Pricing
Rational pricing is the assumption in financial economics that asset prices – and hence asset pricing models – will reflect the arbitrage-free price of the asset as any deviation from this price will be "arbitraged away". This assumption is useful in pricing fixed income securities, particularly bonds, and is fundamental to the pricing of derivative instruments. Arbitrage mechanics Arbitrage is the practice of taking advantage of a state of imbalance between two (or possibly more) markets. Where this mismatch can be exploited (i.e. after transaction costs, storage costs, transport costs, dividends etc.) the arbitrageur can "lock in" a risk-free profit by purchasing and selling simultaneously in both markets. In general, arbitrage ensures that "the law of one price" will hold; arbitrage also equalises the prices of assets with identical cash flows, and sets the price of assets with known future cash flows. The law of one price The same asset must trade at the same ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rational Choice Theory
Rational choice modeling refers to the use of decision theory (the theory of rational choice) as a set of guidelines to help understand economic and social behavior. The theory tries to approximate, predict, or mathematically model human behavior by analyzing the behavior of a rational actor facing the same costs and benefits.Gary Browning, Abigail Halcli, Frank Webster (2000). ''Understanding Contemporary Society: Theories of the Present'', London: Sage Publications. Rational choice models are most closely associated with economics, where mathematical analysis of behavior is standard. However, they are widely used throughout the social sciences, and are commonly applied to cognitive science, criminology, political science, and sociology. Overview The basic premise of rational choice theory is that the decisions made by individual actors will collectively produce aggregate social behaviour. The theory also assumes that individuals have preferences out of available choice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
