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Measurement in Economics

Measurement in Economics
Author: Marcel Boumans
Publisher: Elsevier
Total Pages: 460
Release: 2007-08-17
Genre: Business & Economics
ISBN: 0123704898

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"Measurement in Economics: A Handbook" aims to serve as a source, reference, and teaching supplement for quantitative empirical economics, inside and outside the laboratory. Covering an extensive range of fields in economics: econometrics, actuarial science, experimental economics, index theory, national accounts, and economic forecasting, it is the first book that takes measurement in economics as its central focus. It shows how different and sometimes distinct fields share the same kind of measurement problems and so how the treatment of these problems in one field can function as a guidance in other fields. This volume provides comprehensive and up-to-date surveys of recent developments in economic measurement, written at a level intended for professional use by economists, econometricians, statisticians and social scientists. It employs an integrative approach of measurement in economics. It contains multi-disciplinary chapters and up-to-date survey of measurement literature in economics and econometrics.


Measurement, Quantification and Economic Analysis

Measurement, Quantification and Economic Analysis
Author: Ingrid H. Rima
Publisher: Routledge
Total Pages: 475
Release: 2002-09-11
Genre: Business & Economics
ISBN: 1134879245

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Editor is well known. She is presidnet of the History of Economics Society and has completed a 12 year term as editor of the Eastern Economics Journal Work is controversial - challenges the relevance of mathematics in economics


Theory and Measurement of Economic Externalities

Theory and Measurement of Economic Externalities
Author: Steven A. Y. Lin
Publisher: Academic Press
Total Pages: 280
Release: 2014-05-10
Genre: Business & Economics
ISBN: 1483271471

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Theory and Measurement of Economic Externalities provides information on some analytical and empirical developments in the field of externalities. This book presents the function of turning out producer's goods in the form of better knowledge, analytical formulation, and approaches for application to current problems. Organized into five parts encompassing 12 chapters, this book begins with an overview of the notion of externalities in connection with analyses of economic welfare. This text then discusses the relationship between publicness and external diseconomies when either consumption or production or decision sets are nonconvex due to a high degree of externalities. Other chapters consider disproving the pessimistic conclusions concerning tax–subsidy schemes. This book discusses as well the solutions for the allocation of resources in an economy with public goods and interdependent preferences. The final chapter deals with a general framework for estimating externality production functions. This book is a valuable resource for economists.


Measuring Economic Welfare

Measuring Economic Welfare
Author: George W. McKenzie
Publisher: Cambridge University Press
Total Pages: 201
Release: 1983-03-10
Genre: Business & Economics
ISBN: 0521248620

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Professor McKenzie proposes and formulates a method composed of operational procedures designed to facilitate the evaluation of economic projects and policies. This method is discussed fully, illustrated by simple examples, and compared with alternative procedures. An outline of a computer program that enables readers to undertake their own calculations is included. In order to present the approach clearly, the author provides an exposition of the fundamental ideas and the main alternative approaches to the problem. These rely on various forms of index numbers and consumer surplus. However, as is well known, such measures are not capable of correctly ordering the various alternatives under consideration, except under highly unrealist assumptions. In this book the author suggests the abandonment of this traditional approach based on the concept of 'willingness-to-pay' or the conpensating variation. Instead, the measure that Samuelson has called the 'money-metric' should become the cornerstone of applied welfare economics.


The Role of Measurement in Economics

The Role of Measurement in Economics
Author: Richard Stone
Publisher: Cambridge University Press
Total Pages: 95
Release: 2013-10-10
Genre: Business & Economics
ISBN: 1107673860

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First published in 1951, this book examines the role of measurement in obtaining and applying economic knowledge. Esteemed economist Richard Stone divides his topic into four sections: questions of fact and empirical constructs; the truth or falsity of a hypothesis; the estimation of parameters; and questions of prediction.


Measuring Happiness

Measuring Happiness
Author: Joachim Weimann
Publisher: MIT Press
Total Pages: 223
Release: 2015-02-06
Genre: Business & Economics
ISBN: 0262028441

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Can money buy happiness? Is income a reliable measure for life satisfaction? In this book, three economists explore the happiness-prosperity connection, investigating how economists measure life satisfaction and well-being. --


Measuring What Counts

Measuring What Counts
Author: Joseph E. Stiglitz
Publisher: The New Press
Total Pages: 257
Release: 2019-11-19
Genre: Business & Economics
ISBN: 162097570X

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A bold agenda for a better way to assess societal well-being, by three of the world's leading economists and statisticians "If we want to put people first, we have to know what matters to them, what improves their well-being, and how we can supply more of whatever that is." —Joseph E. Stiglitz In 2009, a group of economists led by Nobel laureate Joseph E. Stiglitz, French economist Jean-Paul Fitoussi, and Nobel laureate Amartya Sen issued a report challenging gross domestic product (GDP) as a measure of progress and well-being. Published as Mismeasuring Our Lives by The New Press, the book sparked a global conversation about GDP and a major movement among scholars, policy makers, and activists to change the way we measure our economies. Now, in Measuring What Counts, Stiglitz, Fitoussi, and Martine Durand—summarizing the deliberations of a panel of experts on the measurement of economic performance and social progress hosted at the OECD, the international organization incorporating the most economically advanced countries—propose a new, "beyond GDP" agenda. This book provides an accessible overview of the last decade's global movement, sparked by the original critique of GDP, and proposes a new "dashboard" of metrics to assess a society's health, including measures of inequality and economic vulnerability, whether growth is environmentally sustainable, and how people feel about their lives. Essential reading for our time, it also serves as a guide for policy makers and others on how to use these new tools to fundamentally change the way we measure our lives—and to plot a radically new path forward.


A Microeconomic Approach to the Measurement of Economic Performance

A Microeconomic Approach to the Measurement of Economic Performance
Author: Catherine J. Morrison
Publisher: Springer Science & Business Media
Total Pages: 300
Release: 2012-12-06
Genre: Business & Economics
ISBN: 146139760X

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This text is designed to provide a comprehensive guide to students, researchers, or consultants who wish to carry out and to interpret analyses of economic performance, with an emphasis on productivity growth. The text includes an overview of standard productivity growth measurement techniques and adaptations, and data construc tion procedures. It goes further, however, by expanding the tradition al growth accounting (index number) framework to allow consider ation of how different aspects of firm behavior underlying productivity growth are interrelated, how they can be measured con sistently in a parametric model, and how they permit a well-defined decomposition of standard productivity growth measures. These ideas are developed by considering in detail a number of underlying theoretical results and econometric issues. The impacts of various production characteristics on productivity growth trends are also evaluated by overviewing selected methodological extensions and em pirical evidence. More specifically, in the methodological extensions, emphasis is placed on incorporation of cost and demand characteristics, such as fixity and adjustment costs, returns to scale, and the existence of market power, into analyses of productivity growth. These character istics, generally disregarded in such analyses, can have very important impacts on production structure and firm behavior, and thus on economic performance. They also provide the conceptual basis for vii viii PREFACE measures that are often used independently as indicators of economic performance, such as investment, capacity utilization, and profit measures.


Measuring Utility

Measuring Utility
Author: Ivan Moscati
Publisher: Oxford Studies in History of E
Total Pages: 345
Release: 2018-11-22
Genre: Business & Economics
ISBN: 0199372764

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Utility is a key concept in the economics of individual decision-making. However, utility is not measurable in a straightforward way. As a result, from the very beginning there has been debates about the meaning of utility as well as how to measure it. This book is an innovative investigation of how these arguments changed over time. Measuring Utility reconstructs economists' ideas and discussions about utility measurement from 1870 to 1985, as well as their attempts to measure utility empirically. The book brings into focus the interplay between the evolution of utility analysis, economists' ideas about utility measurement, and their conception of what measurement in general means. It also explores the relationships between the history of utility measurement in economics, the history of the measurement of sensations in psychology, and the history of measurement theory in general. Finally, the book discusses some methodological problems related to utility measurement, such as the epistemological status of the utility concept and its measures. The first part covers the period 1870-1910, and discusses the issue of utility measurement in the theories of Jevons, Menger, Walras and other early utility theorists. Part II deals with the emergence of the notions of ordinal and cardinal utility during the period 1900-1945, and discusses two early attempts to give an empirical content to the notion of utility. Part III focuses on the 1945-1955 debate on utility measurement that was originated by von Neumann and Morgenstern's expected utility theory (EUT). Part IV reconstructs the experimental attempts to measure the utility of money between 1950 and 1985 within the framework provided by EUT. This historical and epistemological overview provides keen insights into current debates about rational choice theory and behavioral economics in the theory of individual decision-making and the philosophy of economics.


The Economics of Poverty

The Economics of Poverty
Author: Martin Ravallion
Publisher: Oxford University Press
Total Pages: 737
Release: 2016
Genre: Business & Economics
ISBN: 0190212772

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"An overview of the economic development of and policies intended to combat poverty around the world"--Provided by publisher.