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Journal articles on the topic 'Value-free economics'

Author: Grafiati

Published: 10 September 2021

Last updated: 17 July 2025

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1

Pérez-Castrillo, David, and Chaoran Sun. "Value-free reductions." Games and Economic Behavior 130 (November 2021): 543–68. http://dx.doi.org/10.1016/j.geb.2021.09.009.

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2

Drakopoulos, S. A. "Origins and Development of the Trend Toward Value-Free Economics." Journal of the History of Economic Thought 19, no. 2 (1997): 286–300. http://dx.doi.org/10.1017/s1053837200000821.

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The idea of value-free economics is an old methodological issue. It has given rise to one of the most important controversies in the history of economic thought. The discussion was important because it had to do with the scientific nature of economics. One can still find a significant number of methodological works (e.g. Coddington 1972, Gordon 1977, Samuels 1977, Sugden 1981, Colander 1994) which echo this old controversy. Most economists today, though, would agree that the claim of an economic theory free from values is essential in establishing the scientific nature of the discipline. A positive, value-free economics, in the sense of not relying on any particular set of value judgments or on any philosophical or psychological framework, is generally seen as the ideal. This approach has crucially influenced important branches of economics such as microeconomic theory. The current established position was a product of a historical process which played a significant role in the formation of the body of economic theory. Furthermore, the idea of what is value-free economics has changed since its first introduction as a scientific ideal. The nature of this change is also important for understanding the present conception of the scientific character of economics.

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Tubadji, Annie. "Value-Free Analysis of Values: A Culture-Based Development Approach." Sustainability 12, no. 22 (2020): 9492. http://dx.doi.org/10.3390/su12229492.

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Recent literature in the fields of Political Economy, New Institutional Economics and New Cultural Economics has converged in the use of empirical methods, offering a series of consistent quantitative analysis of values. However, an overarching positive methodology for the value-free study of values has not yet precipitated. Building on a mixed systematic-integrative literature review of a pluralistic variety of perspectives from Adam Smith’s ‘Impartial’ Spectator to modern moral philosophy, the current study suggests the Culture-Based Development (CBD) approach for analyzing the economic impact of values on socio-economic development. The CBD approach suggests that the value-free analysis needs: (i) to use positive methods to classify a value as local or universal; (ii) to examine the existence of what is termed the Aristotelian Kuznets curve of values (i.e., to test for the presence of an inflection point in the economic impact from the particular value) and (iii) to account for Platonian cultural relativity (i.e., the cultural embeddedness expressed in the geographic nestedness of the empirical data about values). The paper details the theoretical and methodological cornerstones underpinning the proposed CBD approach for value-free analysis of values.

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4

Fokina, Olga, and Angela Mottaeva. "Consumer behavior and the free shipping: value for environmental economics." E3S Web of Conferences 371 (2023): 05055. http://dx.doi.org/10.1051/e3sconf/202337105055.

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The Russian practice of marketplaces is often associated with free transport delivery of purchased goods, as opposed to international studies, where the driving factor is a competitive price and a convenient purchase process. The study showed that 83% of marketplace buyers are convinced that the cost of delivery is shared between the seller of the goods and the marketplace itself, and the client gets it for free. International studies indicate that the desire to see the price of delivery as a separate item is typical for rational buyers. Therefore, the initial conclusion was the confirmation of the emotionality of marketplace buyers, as opposed to the rationality of buyers of branded online stores. However, a study conducted by the authors showed that one of the key factors influencing the purchase of goods on marketplaces is the ability to compare prices from different sellers, which is a sign of the rationality of the purchase. Thus, we can conclude that the initial impulse to buy on the marketplace is most often just rational, but the buying process itself can be subject to emotional decisions.

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Szab�, Andrea. "The Value of Free Water: Analyzing South Africa's Free Basic Water Policy." Econometrica 83, no. 5 (2015): 1913–61. http://dx.doi.org/10.3982/ecta11917.

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6

Ostapiuk, Aleksander. "Value-free paradise is lost. Economists could learn from artists." Annales. Etyka w Życiu Gospodarczym 23, no. 4 (2020): 7–33. http://dx.doi.org/10.18778/1899-2226.23.4.01.

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Despite the conclusions from the contemporary philosophy of science, many economists cherish the ideal of positive science. Therefore, value-free economics is still the central paradigm in economics. The first aim of the paper is to investigate economics’ axiomatic assumptions from an epistemological perspective. The critical analysis of the literature shows that the positive-normative dichotomy is exaggerated. Moreover, value-free economics is based on normative foundations that have a negative impact on individuals and society. The paper’s second aim is to show that economics’ normativity is not a problem because the discussion concerning values is possible and unavoidable. In this context, Weber and other methodologists are investigated. The conclusion of the paper is that science can thrive without strict methodological rules thanks to institutional mechanisms. Therefore, economists could learn from artists who accept the world without absolute rules. This perspective opens the possibility for methodological pluralism and normative approaches.

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Pink, Małgorzata. "Value Theory in the Economics of Sustainable Development." Problemy Ekorozwoju 15, no. 1 (2020): 95–102. http://dx.doi.org/10.35784/pe.2020.1.11.

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Historically, the value theory was based on an objectivist approach, where the value of the goods arises through the involvement of private means of production, with a special role of work or a subjectivist approach, where value is a subjective phenomenon and depends on marginal utility of the economic entity. The neoclassical revolution replaced the vague value theory with price theory, the economic reality and consumer expectations led to a situation in which lowering the price of goods at the expense of the environment became a commonly accepted mode of operation. For a long time, the value theory in economics was not an area of reflection, both in the sense of economic and moral value. It was assumed that the subjective character of the value phenomenon makes the analysis of value elusive for the tools of economics. At the same time, environmental goods were considered to be so-called free, occurring in unlimited quantities. These assumptions have contributed to the development of an economics theory that is the antithesis of the economics of sustainable development, excessively exploiting the environment and, indirectly, society as well. The assumptions of sustainable development redefine the space for interpretation of the value theory and imply a change in the approach to an environmental element that cannot be understood in the sense of a free good and which imposes an objective understanding of values that can be preserved or lost in the production process.

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8

Platt, Harlan, Sebahattin Demirkan, and Marjorie Platt. "Free Cash Flow, Enterprise Value, and Investor Caution." Journal of Private Equity 13, no. 4 (2010): 42–50. http://dx.doi.org/10.3905/jpe.2010.13.4.042.

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9

Caplan, Arthur J., Douglas Jackson-Smith, and Sandy Marquart-Pyatt. "Does ‘free-sampling’ enhance the value of public goods?" Applied Economics Letters 17, no. 4 (2008): 335–39. http://dx.doi.org/10.1080/13504850701735872.

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10

Khantee, Theeranan, and Apinya Anphanlam. "Promoting Communication Value and Worth in Economics of Chemical-Free Rice Learning." Journal of Educational Issues 8, no. 2 (2022): 247. http://dx.doi.org/10.5296/jei.v8i2.20048.

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This participatory action research's goal was to investigate the manner in which rice grown without chemical additives is communicated as having value and worth. Data were gathered from local people through in-depth interviews, focus groups, agent interviews, questionnaires, surveys, observations, and documentary research. The findings of this study show that there are four different types of communication: group communication, individual communication, communication through mass media and social media, and community communication. This knowledge is either a benefit for organizing public campaigns or a clear invitation to farmers who want to switch to chemical-free farming and understand its significance.

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11

Martins, Nuno Ornelas. "Hilary Putnam and Vivian Walsh (eds.), The End of Value-Free Economics." OEconomia, no. 3-3 (September 1, 2013): 514–19. http://dx.doi.org/10.4000/oeconomia.97.

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12

Nelson, J. A. "Value-Free or Valueless? Notes on the Pursuit of Detachment in Economics." History of Political Economy 25, no. 1 (1993): 121–45. http://dx.doi.org/10.1215/00182702-25-1-121.

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13

Nelson, Julie A. "Feminism and Economics." Journal of Economic Perspectives 9, no. 2 (1995): 131–48. http://dx.doi.org/10.1257/jep.9.2.131.

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Recent feminist theorizing about gender and science could improve economic practice. The usual definitions of the subject matter, models, methods, and pedagogy of economics, while often perceived as value-free and impartial, contain distinct masculine biases. The alternative is not a ‘feminine’ economics, not a ‘female’ economics, but an economics in which practitioners of either sex make use of the widest range of appropriate methods in studying the subject of economic provisioning. Examples are given of work in which gender conformity has not been a defining factor, as well as work in which gender biases are apparent.

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14

Schreft, Stacey L., and Bruce D. Smith. "The social value of risk-free government debt." Annals of Finance 4, no. 2 (2007): 131–55. http://dx.doi.org/10.1007/s10436-007-0073-3.

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15

Yuengert, Andrew. "Why did the economist cross the road? The hierarchical logic of ethical and economic reasoning." Economics and Philosophy 18, no. 2 (2002): 329–49. http://dx.doi.org/10.1017/s0266267102002080.

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The debate over whether or not economics is value-free has focused on the fact-value distinction: “is” does not imply “ought.” This paper approaches the role of ethics in economics from a Thomistic perspective, focusing not on the content of economic analysis, but on the actions taken by economic researchers. Positive economics, when it satisfies Aristotle's definition of technique, enjoys a certain autonomy from ethics, an autonomy limited by a technique's dependence for guidance and justification on ethical reflection. The modern isolation of technique from ultimate ends entails the risk of mistaking the proximate ends of economics for ultimate ends, especially when applying economic methods in new ways or to new social phenomena.

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16

Mansur, Ahmad. "Contrasting Deontological Economics with an Islamic Economics." OECONOMICUS Journal of Economics 7, no. 1 (2022): 37–52. http://dx.doi.org/10.15642/oje.2022.7.1.37-52.

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Deontological economics is a value-based approach to economics which is originated and inspired by Kant’s deontological theory of ethics. It has come to us to challenge the mainstream economics by proposing the view that economics is not value free. It views that ethical value plays an important role in economics, and ethics must be incorporated in economics. Exploring this economic school of thought is very interesting. It will present a new nuance, in the sense that economics will not get into the right path, if it does not know about ethics and does not practice it. It warns the mainstream economics that economics is not only about maximization of profit and satisfaction, but it is about the realization of value.Since Deontological economics and Islamic economics both proclaim that morality and ethical values cannot be separated from economy, as they will guide human behaviour in their doing economy to achieve social bliss, happiness and social harmony as well as their economic development, this research tries to discuss and investigate the incorporation of ethical values both in Islamic and in Deontological economics.The ethical value advocated by Deontological economics of human existence in this world such as to prosper on earth and to heal the world to make it better place to seek the pleasure of God and to keep the balance in economy between satisfying individual needs and social needs, and between satisfying material needs and spiritual needs, to respect others, to preserve the human’s dignity and many other values which are similar or even the same as that of what Islamic economics advocates is very interesting and it is worth to have our attention and discussion. Despite the ethical value of an Islamic economics is departing from the Quran and the Sunnah, this research comes to the conclusion that there existed similarity between both of them or even the same, except the value of usury (riba). Another outcome is that both of them could be grounded in the real economic activities, and it is not merely theoretical construct.

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17

Aydinonat, N. Emrah. "Is spontaneous order a value-free descriptive methodological tool?" Journal of Economic Methodology 17, no. 4 (2010): 448–52. http://dx.doi.org/10.1080/1350178x.2010.525111.

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18

Wilber, Charles K. "Economics needs ethics to be relevant for the real world we live in!" Advances in Economics Education 3, no. 1 (2024): 8–23. http://dx.doi.org/10.4337/aee.2024.01.02.

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It is widely believed by economists and non-economists alike that knowing about and ‘doing’ economics does not involve ethical or moral issues. The typical introductory economics textbook starts with simplified statements about economics being value-free and ethically-neutral. But this is not correct and students need to be introduced to economics differently. This paper makes the case for a more explicit and integrated treatment of ethics in our undergraduate economics programs. The argument has two parts. First, economics and ethics are interrelated because both economists and economic actors hold ethical values that shape their behavior. Second, economic institutions and policies impact people differentially so that ethical evaluations, in addition to economic evaluations, are important. Rather than pretend that economics is value-neutral, our programs must show how these effects can be understood so that more effective economists are graduated from our universities.

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19

Lubensky, Dmitry, and Eric Schmidbauer. "FREE PRODUCT TRIALS: DISCLOSING QUALITY AND MATCH VALUE." Economic Inquiry 58, no. 4 (2019): 1565–76. http://dx.doi.org/10.1111/ecin.12858.

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20

Coggins, Jay S., and Cyrus A. Ramezani. "An Arbitrage-Free Approach to Quasi-Option Value." Journal of Environmental Economics and Management 35, no. 2 (1998): 103–25. http://dx.doi.org/10.1006/jeem.1998.1024.

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21

Aulia Fitri Anggraini, Dinda Salsabila Sarly, and Wahyu Rama Wirayuda. "Kebijakan Moneter Dan Perkembangan Ekonomi: Perspektif Islam." Jurnal Bisnis, Ekonomi Syariah, dan Pajak 1, no. 2 (2024): 116–36. http://dx.doi.org/10.61132/jbep.v1i2.161.

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The government's role in Islamic economics is very significant, not only in regulating public aspects in accordance with Islamic principles, but also in financial matters such as managing basic needs, creating jobs, and maintaining the stability of the value of money. Public authorities need appropriate arrangements to steer the economy in the desired direction. One of the strategies used is financial regulation, which aims to control the money supply so that economic growth is stable, the cost of living is affordable, and jobs are available. This research aims to explore how the financial approach works from an Islamic perspective in depth. In the context of Islamic economics, the task of public authorities is to ensure that Islamic principles apply in terms of free income, interest-free economy, and money management in accordance with Islamic principles. Financial regulatory instruments also go beyond the use of open markets and custody of money, including in terms of distribution of credit, proportion of advances, and benefits in accordance with Islamic rules. This journal explores the relationship between monetary policy and economic development from an Islamic perspective. The focus is on the government's role in regulating monetary policy to achieve stable and sustainable economic growth in accordance with Islamic principles. The discussion includes financial management strategies that include controlling the money supply, stability of the value of money, and development of an interest-free economy. By considering the basis of free income in Islamic economics, this journal also highlights monetary policy instruments that are in accordance with Islamic values, such as credit distribution and benefit proportions that follow Islamic rules. This research aims to provide in-depth insight into how monetary policy can be implemented effectively in the context of Islamic economics, as well as implications and suggestions for sustainable economic development from an Islamic perspective.

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22

Alamar, Benjamin C., and Stanton A. Glantz. "Smoke-free Ordinances Increase Restaurant Profit and Value." Contemporary Economic Policy 22, no. 4 (2004): 520–25. http://dx.doi.org/10.1093/cep/byh038.

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23

Carré, Patrick. "Economics of oilseed crushing: assessing the impact of solvent-free processing on added value." OCL 31 (2024): 27. http://dx.doi.org/10.1051/ocl/2024021.

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While it is clear that solvent extraction (SE) dominates the vegetable oil production sector because of the higher yields it allows, it is more difficult to estimate the difference in added value (AV) between this production method and extraction by mechanical means alone (ME). The aim of this article is to propose an objective method for assessing this differential by addressing the question of assessing the material balances associated with each process and the issue of the value of expeller cakes in different economic contexts, an assessment made necessary by the absence of regular public quotations for these feedstuffs. Material balances are determined by the oil content in the seeds and the oil residues left in SE meals and ME cakes. Based on 100 kg of seeds, oil production was estimated at 43.7 and 44.9 kg using the SE process compared with 39.3 and 38.8 kg using the ME process for rapeseed and sunflower respectively. To assess the value of expeller cakes, we used a basket of feedstuffs with known quotations and nutritional value to determine an equation for price prediction within 35 market conjunctures between June 2008 and May 2024. These predictions were used to establish a linear correlation between hexane meal prices and predicted expellers prices allowing a calculation of the added value in 574 market situations from 2010 to 2024. A linear regression shows that AV of ME is equal to 0.71 AV of SE + 6.8 €/t for rapeseed and 0.63 AV of SE + 2.1 €/t for sunflower.

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24

Morck, Randall, and Bernard Yeung. "Economics, History, and Causation." Business History Review 85, no. 1 (2011): 39–63. http://dx.doi.org/10.1017/s000768051100002x.

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Economics and history both strive to understand causation: economics by using instrumental variables econometrics, and history by weighing the plausibility of alternative narratives. Instrumental variables can lose value with repeated use because of an econometric tragedy of the commons: each successful use of an instrument creates an additional latent variable problem for all other uses of that instrument. Economists should therefore consider historians' approach to inferring causality from detailed context, the plausibility of alternative narratives, external consistency, and recognition that free will makes human decisions intrinsically exogenous.

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25

Burkett, Paul. "Nature's ‘Free Gifts' and the Ecological Significance of Value." Capital & Class 23, no. 2 (1999): 89–110. http://dx.doi.org/10.1177/030981689906800106.

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26

Shorrer, Ran I. "Entropy and the value of information for investors: The prior-free implications." Economics Letters 164 (March 2018): 62–64. http://dx.doi.org/10.1016/j.econlet.2018.01.001.

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27

Cheshire, Paul, and Stephen Sheppard. "Capitalising the Value of Free Schools: The Impact of Supply Characteristics and Uncertainty." Economic Journal 114, no. 499 (2004): F397—F424. http://dx.doi.org/10.1111/j.1468-0297.2004.00252.x.

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28

Lux, Thibaut, and Antonis Papapantoleon. "Model-free bounds on Value-at-Risk using extreme value information and statistical distances." Insurance: Mathematics and Economics 86 (May 2019): 73–83. http://dx.doi.org/10.1016/j.insmatheco.2019.01.007.

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29

Pressman, S. "Economics and the Philosophy of Science. * Value-Free Science?: Purity and Power in Modern Knowledge." History of Political Economy 25, no. 3 (1993): 553–55. http://dx.doi.org/10.1215/00182702-25-3-553.

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30

Li, Bijie, and Zhangzhong Huang. "Theoretical Exploration of Free Trade Ports and Multinational Investment Behavior." Economic Society and Humanities 1, no. 7 (2024): 54–57. https://doi.org/10.62381/e244709.

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This study explores the theoretical impact of free trade ports on multinational investment behavior, analyzing policy changes and regional economic development theories within the context of global economic integration. Through literature review and framework construction, the research examines how free trade ports, as special economic zones, attract multinational investment. It analyzes the influence of tax incentives, financial conveniences, and legal protections on multinationals' strategic decisions. The study integrates theories such as comparative advantage, institutional economics, and economic globalization, evaluating the role of free trade port policies in capital flow, technology transfer, and economic growth. Additionally, it explores factors affecting multinationals' institutional choices, risk assessments, and investment return expectations, revealing the port's potential role in global economic governance and regional integration. The findings indicate that free trade ports serve as effective platforms for multinational investment and play a crucial role in reconfiguring global value chains, providing diverse strategic options and competitive advantages. This theoretical exploration offers policymakers and corporate leaders guidance for sustainable global economic development.

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31

Stapleford, John E. "Christian Ethics and Economics." Journal of Interdisciplinary Studies 12, no. 1 (2000): 125–42. http://dx.doi.org/10.5840/jis2000121/27.

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There are universal Christian ethics that should be applied in economics. Christian ethics in economics stresses free will; the immense value, dignity, and unique talents of the individual; individual accountability for the use of resources, charity, and the exercise of justice; the relevance of the family and community; and a role for the state in the adjudication of economic justice, the enforcement of contracts, and the facilitation of competition and minimization of exploitation in product and resource markets. Civil authorities are to be obeyed until they set themselves in opposition to divine law, while the individual is prior to the state and the social order. Among economic systems. Christian ethics favors mvced democratic capitalism, rejecting non-democratic socialism and authoritarianism. Strictly utilitarian, consequentialist, or contractarian approaches to economic policy are unacceptable, since they reject the other-regardedness of God's law. While Christian ethics establishes certain clear economic objectives, final policy choices require a synthesis of reasoning research, and practical application.

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32

Weston, Samuel C. "Toward a Better Understanding of the Positive/Normative Distinction in Economics." Economics and Philosophy 10, no. 1 (1994): 1–17. http://dx.doi.org/10.1017/s0266267100001681.

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This essay argues in favor of retaining the positive/normative distinction in economics, in spite of developments in methodology and epistemology that have cast doubt on the possibility of a “value-free” economics. The central claim is that it is worthwhile to distinguish between positive economic analysis and normative judgments, even if economics is viewed as being permeated with ethical values. This argument is presented without trying either to demonstrate that there is (or is not) a profound epistemological difference between science and ethics or to show that positive science can (or cannot) afford us access to objective reality.

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33

Aydin, Necati. "Free market madness and human nature." Humanomics 31, no. 1 (2015): 88–103. http://dx.doi.org/10.1108/h-12-2013-0088.

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Purpose – This paper aims to discuss the crises of free market capitalism in terms of its understanding of human nature. It reveals how recent market madness can be attributed to certain elements of human nature. Design/methodology/approach – The paper uses a conceptual and philosophical approach to analyze crises of free market capitalism. It links both success and failure of capitalism to its understanding of human nature. It compares and contrasts economic assumptions of human nature in conventional and Islamic economics. It attempts to explain the 2008 financial crisis through a comprehensive theory of human nature. Findings – It sheds some light on the irrational aspect of human nature as the driving factor behind the 2008 financial crisis. It elaborates on the importance of knowing self for knowing human decisions in free market economy. It concludes with the need for a comprehensive theory of human nature to predict and prevent irrational and irresponsible behaviors of populist politicians, greedy capitalists and conspicuous consumers. The paper also reflects on the 2013 Nobel Prize in economics as a victory for the study of human nature. Originality/value – The paper offers a new perspective to understand crises of free market capitalism.

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Zuhdi, Andifa Nurasyam. "The Theological Value of Al-Ma’un in Free Lunch Policy: An Islamic Ethical Perspective on Social Empowerment." Jurnal Muhammadiyah Studies 9, no. 2 (2024): 100–110. https://doi.org/10.22219/jms.v9i2.37945.

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Providing free lunches is one of the innovations to prepare Indonesia's golden generation. This policy focuses on improving the nutrition of children and pregnant women. By providing free lunches, it is hoped that it will have a domino effect on the community. Of course, this policy must also be based on the ethics that apply in Indonesia. The free lunch policy has also gone through a series of in-depth scientific studies. Of course, this research will have a significant positive impact on society, considering that there is still a lot of inequality and poverty in Indonesia. Programs that are classified as social policies in economics are usually called "Robin Hood" policies. Considering this big policy, it is hoped that there will be even and special support for people who need it. The government also needs to develop a powerful formula so that this policy can be realized and evenly distributed, especially in remote and underdeveloped areas in Indonesia. Of course, the main goal of a free lunch policy is to effectively reduce inequality and promote a fair allocation of economic resources.

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35

Bartenev, Victor N. "Value-Energy Interrelationship and Dynamic Added Value Taxation." Journal of Interdisciplinary Economics 21, no. 3 (2009): 273–94. http://dx.doi.org/10.1177/02601079x09002100303.

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Energy and system grounds of economy and its taxation subsystem based on operational identity (isomorphism) between economy and electric power amplifier are considered. Consistent economy treating as an added value amplifier allows coupling monetary and energy units in the form of value-energy correlation characterizing economic efficiency and growth. For well-developed economy, this correlation is approximated by electric energy price. System stability requirements lead to the concept of dynamic added value taxation (DAVT) performing powerful economy regulating functions. In particular, DAVT can serve as an effective mean for stabilizing energy-carriers prices. To define more precisely value-energy isomorphism, system interrelationship between added value and Gibbs free energy is discussed. JEL codes: E63, H21, O11, 023, Q43

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36

Lamour, Christian, and Nathalie Lorentz. "The economics of free newspapers: the business value of banal cosmopolitanism in the city of flows." Journal of Media Business Studies 16, no. 2 (2019): 110–25. http://dx.doi.org/10.1080/16522354.2019.1616376.

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37

Jeuland, Marc. "The economics of dams." Oxford Review of Economic Policy 36, no. 1 (2020): 45–68. http://dx.doi.org/10.1093/oxrep/grz028.

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Abstract Dams provide a host of benefits to societies, helping to balance variability in water availability with demand for multiple uses, allowing power generation, providing and enhancing recreation opportunities, and offering protection against damaging floods. Yet dams are often controversial due to their high investment requirements, unequal distributional effects, and concerns over the irreparable harm they may cause to free-flowing rivers and ecosystems. This paper considers the economic case for such projects, organized around a review of what we know about their value and impacts. Though heterogeneity across contexts is a common feature of interventions in many sectors, we argue that it is particularly acute in the case of dams, and that this creates difficulties for drawing general conclusions about their social value. Still, evidence suggests that investment in additional surface water storage may not always be the best solution for addressing water scarcity. Furthermore, a number of biases and blind spots exist in economic frameworks used to evaluate dams, and these often challenge analysts’ ability to correctly identify which projects will be most attractive. Perhaps due to some of these perceived deficiencies, policy-makers do not appear to make much use of economic analyses for decision-making about dams. If progress is to be made in avoiding costly mistakes related to construction and removal of such infrastructures in the future, economists need to improve the realism and methods underlying their analyses of the value of dams, and offer more useful interpretations of the results that these approaches produce.

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38

Yang, Yichen, and Wen Liu. "Free trade agreements and domestic value added in exports: An analysis from the network perspective." Economic Modelling 132 (March 2024): 106656. http://dx.doi.org/10.1016/j.econmod.2024.106656.

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39

Sudiyatno, Bambang, Sri Sudarsi, Witjaksono Eko Hartoto, and Ika Rosyada Fitriati. "Does capital structure moderate the impact of the investment opportunity set and institutional ownership on firm value?" Investment Management and Financial Innovations 20, no. 2 (2023): 79–88. http://dx.doi.org/10.21511/imfi.20(2).2023.07.

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The existence of a research gap compared to previous studies related to the effect of the relationship between institutional ownership and investment opportunity set on firm value in Indonesia is interesting to review. This study aims to reveal the relationship of these influences by adding capital structure as a moderating variable that serves to strengthen it against firm value. The research variables are the ratio of market value to book value of assets, institutional ownership, debt-to-equity ratio and free cash flow. The research timeframe is 2019–2021, using data taken from companies in the manufacturing sector in the Indonesian Capital Market (IDX). Data sampling was carried out using the purposive sampling method. Data analysis to determine the relationship of these effects and hypothesis testing were performed using multiple regression. The empirical research findings indicate that the investment opportunity set has a positive effect on increasing firm value, while capital structure has a negative effect on decreasing it. Institutional ownership and free cash flow do not determine firm value, so free cash flow does not serve as a control variable. The main finding of this study is revealing that capital structure plays a role in strengthening the effect of the relationship between investment opportunity sets on firm value. Acknowledgments This research is an independent study that is not funded by donor agencies.

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Hewa, Soma. "SOCIOLOGY AND PUBLIC POLICY: THE DEBATE ON VALUE‐FREE SOCIAL SCIENCE." International Journal of Sociology and Social Policy 13, no. 1/2 (1993): 64–82. http://dx.doi.org/10.1108/eb013167.

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Shores, Mark. "Countries of the world: free and subscription information sources." Reference Reviews 30, no. 4 (2016): 1–5. http://dx.doi.org/10.1108/rr-06-2015-0162.

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Purpose This paper aims to summarize the quality and usefulness of several online resources, both subscription and free, for finding information on countries of the world. Design/methodology/approach The paper describes several free and commercial sources that can be used for conducting research on countries of the world, evaluates them and makes recommendations regarding their use and appropriateness for specific clientele. Findings There are many free resources that can be used for locating information on countries of the world, but researchers needing current and in-depth economic and demographic information may need to consult subscription databases. Research limitations/implications This paper intentionally limits its analysis to resources that provide basic statistical and narrative information, along with descriptions of culture; online tools for gathering comprehensive data on country economics and demographics have been excluded for purposes of brevity. Originality/value This paper offers a comparative overview, survey and analysis of multiple references sources that can be utilized to locate country information, which will be of value to information professionals, as well as information seekers.

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Burczak, Theodore A. "The Postmodern Moments of F. A. Hayek'S Economics." Economics and Philosophy 10, no. 1 (1994): 31–58. http://dx.doi.org/10.1017/s026626710000170x.

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Postmodernism is often characterized, among other things, as the belief in the unattainability of objective truth and as a rejection of teleological and reductionist, or essentialist, forms of thought. For instance, in his provocative book The Rhetoric of Economics (1985), Donald McCloskey sketches the implications for economic methodology of Richard Rorty's (1979) rejection of the modernist quest for Truth, as represented by various rationalist and empiricist epistemologies. McCloskey describes modernist methodology as displaying a desire to predict and control, a search for objective–;which often means measurable–;knowledge, and an attempt to develop a value-free inquiry, among other characteristics (McCloskey, 1985, pp. 7-8). This “methodological correctness,” McCloske suggests, is discredited by the postmodern dissatisfaction with traditional epistemology. Thus, in place of the modernist belief in a rule-guided path to truth, he advocates a “free market” approach to knowledge, in which participants in the variety of theoretical conversations agree to be earnest and listen politely to one another.

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Silvia, Bayu Eka. "THE NEED FOR IMPLEMENTATION OF ISLAMIC SOCIO ACCOUNTING." Indonesian Management and Accounting Research 6, no. 1 (2016): 33–42. http://dx.doi.org/10.25105/imar.v6i1.1277.

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Conventional Accounting is argued to be unsuitable for an Islamic Society because it embraces fundamental values and principles which are in conflict with its value. Adopting or even modifying conventional Accounting concept is insufficient to develop an accounting system which provides information that will lead to behavior consistent with Islamic norms and towards Islamic objective. Besides, Conventional accounting has increasingly come under attack in its home ground because of it adopting a narrow marginalist, utilitarian economic principle and the assumption of a pristine liberal economics democracy as the basis of soc iety. This paper aimed to emphasized how important is the implementation of Islamic Socio accounting in Islamic Economics and Islamic Financial institution, by showing critics on conventional accounting, its philosophy under value and inability of Conventional Accounting to be applied in Islamic Economics, particularly at their incapability for the purpose of Zakat and interest-free banking.JEL Classification:Keywords: Conventional Accounting, Islamic Socio accounting, Zakat , Islamic Banking

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Mariolis, T., and G. Soklis. "On constructing numeraire-free measures of price-value deviation: a note on the Steedman-Tomkins distance." Cambridge Journal of Economics 35, no. 3 (2010): 613–18. http://dx.doi.org/10.1093/cje/beq032.

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CHRISTIE, WILLIAM G., and VIKRAM NANDA. "Free Cash Flow, Shareholder Value, and the Undistributed Profits Tax of 1936 and 1937." Journal of Finance 49, no. 5 (1994): 1727–54. http://dx.doi.org/10.1111/j.1540-6261.1994.tb04779.x.

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Burns, Scott Andrew, and David Carlton Wyld. "Candyland Economics: Finding the Sweet Spot to Better Teach the Economics of International Trade Through an Interactive, Fun, and Delicious Game." European Journal of Education and Pedagogy 4, no. 5 (2023): 60–66. http://dx.doi.org/10.24018/ejedu.2023.4.5.703.

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International trade has been a central focus of economics since the inception of the discipline. Despite everything we have learned about the benefits of free trade, the topic remains one of the most difficult for students to comprehend, especially in today’s climate, where trade policy has become so polarizing. This paper describes a simple, easy-to-understand, student-involved, and dynamic trading game that is designed to cut through all the noise and controversy surrounding trade policy to convey essential insights about trade. It also describes how trading games like this one can serve as a jumping-off point for more in-depth discussions of a wide variety of economic topics related to the subjective theory of value and monetary economics.

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Ząbkowicz, Anna. "Wolna gospodarka i silne państwo: co zawiodło?" Optimum. Economic Studies, no. 3(109) (2022): 3–14. http://dx.doi.org/10.15290/oes.2022.03.109.01.

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Purpose – The article elaborates on an ordoliberal idea that contradiction between market and the state constitutes a false direction of thinking, and tries to show why it is so, in particular, when combating economic crisis is at stake. Research method – This is a review of literature authored by leaders of the ordoliberal stream of thought. Contents have been organized around the fundamental ordoliberal premise that free economy and strong state are intertwined and dependent on each other. Results – Reconstruction of an ordoliberal position is helpful since it creates an interesting perspective on the international economic and financial crisis of 2008–2009. It reveals that after the crisis private economic power has not been constrained, which constitutes an obstacle to free economy, while the state has not become capable of withstanding rival social groups which means it is continuously weak. Originality/value/implications/recommendations – The considerations presented overcome “market-state” dichotomy which was constituted as common wisdom thanks to mainstream economics. This is a unique attitude which is rather absent in Poland despite ordoliberal economics being reflected in economic policies as a theory of social market economy, with SME being referred to in Polish constitution.

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Aragones, Enriqueta, Itzhak Gilboa, Andrew Postlewaite, and David Schmeidler. "Fact-Free Learning." American Economic Review 95, no. 5 (2005): 1355–68. http://dx.doi.org/10.1257/000282805775014308.

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People may be surprised to notice certain regularities that hold in existing knowledge they have had for some time. That is, they may learn without getting new factual information. We argue that this can be partly explained by computational complexity. We show that, given a knowledge base, finding a small set of variables that obtain a certain value of R2 is computationally hard, in the sense that this term is used in computer science. We discuss some of the implications of this result and of fact-free learning in general.

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Stein, Herbert. "A Successful Accident: Recollections and Speculations about the CEA." Journal of Economic Perspectives 10, no. 3 (1996): 3–21. http://dx.doi.org/10.1257/jep.10.3.3.

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As originally conceived, the President's Council of Economic Advisers would have a unique relation with the president, using Keynesian analysis to advise him on maintaining full employment. After fifty years, the Council has evolved into being a useful cog in a large decision-making apparatus, dealing with the whole range of federal problems of economic policy and bringing to bear whatever economics has to say. The initial Keynesian predisposition has faded. The Council has participated in some mistakes but it has made a valuable contribution, primarily by persistent representation of the value of the free market.

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Lumbanraja, Melvani. "Promotion of Free Shipping and Cash On Delivery (COD) Payments for Purchase Decisions on the Shopee Application for 2019 Stambuk Economic Education Students at HKBP Nommensen University, Pematang Siantar." Promotion of Free Shipping and Cash On Delivery (COD) Payments for Purchase Decisions on the Shopee Application for 2019 Stambuk Economic Education Students at HKBP Nommensen University, Pematang Siantar 1, Vol. 1 No. 3 (2023): September 2023 (2024): 8. https://doi.org/10.59890/ijist.v1i3.581.

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This research aims to gain knowledge regarding the influence of free shipping promotions and cash on delivery (COD) payments on purchasing decisions on the Shopee application among 2019 Stambuk economic education students at HKBP Nommensen University Pematang Siantar. This type of research is quantitative research with a quantitative descriptive data analysis approach with the testing media used is SPSS 21. The population in this study was 111 people, and the sample used was 70 people. The sample collection technique used was a purposive sampling technique. The data collection technique used was a questionnaire. The hypothesis data collection technique uses multiple regression analysis and the coefficient of determination (R2). The results of this study state that: 1) there is a positive and significant influence of the free shipping promotion on students' purchasing decisions. This result can be seen in the t test where the t value of the free shipping promotion (4.284) > t table value (1.6679) which means the variable is significant. 2) there is a positive influence of cash on delivery (COD) payments on purchasing decisions. This result can be seen in the t test where the t value of cash on delivery (COD) payments (1.915) > t table value (1.6679). 3) free shipping promotions and cash on delivery (COD) payments together influence purchasing decisions. This result can be seen in the F test where the Fcount value (24,640) > Ftable value (2.73). The R Square coefficient of determination test was found to be 0.424%, which means that 21.6% of the free shipping promotion variables and cash on delivery (COD) payments influenced the purchasing decisions of 2019 Stambuk economics education study program students at HKBP Nommesen Pematang Siantar University and 57.3% is the influence of other variables not examined in this research.

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