Varieties of Neoliberalism
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Acknowledgments
Acknowledgments Several chapters of this book were initially presented as lectures at various institutions or conferences, and many were subsequently published in ear- lier versions in different journals or collections. They all benefited enor- mously from the conversations that followed these lectures and the suggestions received from various editors and copyeditors. All but the Conclusion were significantly rewritten for this volume. Parts of the Introduction were presented at a special session at the Modern Language Association (MLA) in December 2005 at the invita- tion of Claudia Brodsky. Chapter 1 was first presented in January 2005 at the Alliance Franc¸aise in Chicago at the invitation of Norah Delaney and published in SubStance ࠻106, 34, no. 1 (2005): 6–17. Parts of Chap- ter 2 were presented at a conference organized by Tanja Sta¨hler in June 2005 at the University of Sussex. Chapter 3, first presented at the Society for Phenomenology and Existential Philosophy (SPEP) in October 2006, and then in April 2007 at Marquette University at the invitation of Pol Vandervelde, and then again in October 2007 at Northern Arizona Uni- versity at the invitation of Julie Piering, was published in The New Cen- tennial Review 7, no. 2 (Fall 2007): 21–42. Chapter 4 was first presented at Slippery Rock College at the invitation of Bernie Freydberg and Rich- ard Findler and was published in Theory & Event 8, no. 1 (2005): 1–19. Chapter 5, first presented in February 2005 at the Tate Museum in Lon- don at the invitation of Simon Glendinning and then at the Midwest meeting of the American Philosophical Association (APA) in Chicago in xi April 2005, at a session organized by Penelope Deutscher, was published in Derrida’s Legacies, ed. -
Approximate Nash Equilibria in Large Nonconvex Aggregative Games
Approximate Nash equilibria in large nonconvex aggregative games Kang Liu,∗ Nadia Oudjane,† Cheng Wan‡ November 26, 2020 Abstract 1 This paper shows the existence of O( nγ )-Nash equilibria in n-player noncooperative aggregative games where the players' cost functions depend only on their own action and the average of all the players' actions, and is lower semicontinuous in the former while γ-H¨oldercontinuous in the latter. Neither the action sets nor the cost functions need to be convex. For an important class of aggregative games which includes con- gestion games with γ being 1, a proximal best-reply algorithm is used to construct an 1 3 O( n )-Nash equilibria with at most O(n ) iterations. These results are applied in a nu- merical example of demand-side management of the electricity system. The asymptotic performance of the algorithm is illustrated when n tends to infinity. Keywords. Shapley-Folkman lemma, aggregative games, nonconvex game, large finite game, -Nash equilibrium, proximal best-reply algorithm, congestion game MSC Class Primary: 91A06; secondary: 90C26 1 Introduction In this paper, players minimize their costs so that the definition of equilibria and equilibrium conditions are in the opposite sense of the usual usage where players maximize their payoffs. Players have actions in Euclidean spaces. If it is not precised, then \Nash equilibrium" means a pure-strategy Nash equilibrium. This paper studies the approximation of pure-strategy Nash equilibria (PNE for short) in a specific class of finite-player noncooperative games, referred to as large nonconvex aggregative games. Recall that the cost functions of players in an aggregative game depend on their own action (i.e. -
A Stated Preference Case Study on Traffic Noise in Lisbon
The Valuation of Environmental Externalities: A stated preference case study on traffic noise in Lisbon by Elisabete M. M. Arsenio Submitted in accordance with the requirements for the degree of Doctor of Philosophy University of Leeds Institute for Transport Studies August 2002 The candidate confirms that the work submitted is his own and that appropriate credit has been given where reference has been made to the work of others. Acknowledgments To pursue a PhD under a part-time scheme is only possible through a strong will and effective support. I thank my supervisors at the ITS, Dr. Abigail Bristow and Dr. Mark Wardman for all the support and useful comments throughout this challenging topic. I would also like to thank the ITS Directors during my research study Prof. Chris Nash and Prof A. D. May for having supported my attendance in useful Courses and Conferences. I would like to thank Mr. Stephen Clark for the invaluable help on the computer survey, as well as to Dr. John Preston for the earlier research motivation. I would like to thank Dr. Hazel Briggs, Ms Anna Kruk, Ms Julie Whitham, Mr. F. Saremi, Mr. T. Horrobin and Dr. R. Batley for the facilities’ support. Thanks also due to Prof. P. Mackie, Prof. P. Bonsall, Mr. F. Montgomery, Ms. Frances Hodgson and Dr. J. Toner. Thanks for all joy and friendship to Bill Lythgoe, Eric Moreno, Jiao Wang, Shojiro and Mauricio. Special thanks are also due to Dr. Paul Firmin for the friendship and precious comments towards the presentation of this thesis. Without Dr. -
Lecture Notes General Equilibrium Theory: Ss205
LECTURE NOTES GENERAL EQUILIBRIUM THEORY: SS205 FEDERICO ECHENIQUE CALTECH 1 2 Contents 0. Disclaimer 4 1. Preliminary definitions 5 1.1. Binary relations 5 1.2. Preferences in Euclidean space 5 2. Consumer Theory 6 2.1. Digression: upper hemi continuity 7 2.2. Properties of demand 7 3. Economies 8 3.1. Exchange economies 8 3.2. Economies with production 11 4. Welfare Theorems 13 4.1. First Welfare Theorem 13 4.2. Second Welfare Theorem 14 5. Scitovsky Contours and cost-benefit analysis 20 6. Excess demand functions 22 6.1. Notation 22 6.2. Aggregate excess demand in an exchange economy 22 6.3. Aggregate excess demand 25 7. Existence of competitive equilibria 26 7.1. The Negishi approach 28 8. Uniqueness 32 9. Representative Consumer 34 9.1. Samuelsonian Aggregation 37 9.2. Eisenberg's Theorem 39 10. Determinacy 39 GENERAL EQUILIBRIUM THEORY 3 10.1. Digression: Implicit Function Theorem 40 10.2. Regular and Critical Economies 41 10.3. Digression: Measure Zero Sets and Transversality 44 10.4. Genericity of regular economies 45 11. Observable Consequences of Competitive Equilibrium 46 11.1. Digression on Afriat's Theorem 46 11.2. Sonnenschein-Mantel-Debreu Theorem: Anything goes 47 11.3. Brown and Matzkin: Testable Restrictions On Competitve Equilibrium 48 12. The Core 49 12.1. Pareto Optimality, The Core and Walrasian Equiilbria 51 12.2. Debreu-Scarf Core Convergence Theorem 51 13. Partial equilibrium 58 13.1. Aggregate demand and welfare 60 13.2. Production 61 13.3. Public goods 62 13.4. Lindahl equilibrium 63 14. -
Product Differentiation
Product differentiation Industrial Organization Bernard Caillaud Master APE - Paris School of Economics September 22, 2016 Bernard Caillaud Product differentiation Motivation The Bertrand paradox relies on the fact buyers choose the cheap- est firm, even for very small price differences. In practice, some buyers may continue to buy from the most expensive firms because they have an intrinsic preference for the product sold by that firm: Notion of differentiation. Indeed, assuming an homogeneous product is not realistic: rarely exist two identical goods in this sense For objective reasons: products differ in their physical char- acteristics, in their design, ... For subjective reasons: even when physical differences are hard to see for consumers, branding may well make two prod- ucts appear differently in the consumers' eyes Bernard Caillaud Product differentiation Motivation Differentiation among products is above all a property of con- sumers' preferences: Taste for diversity Heterogeneity of consumers' taste But it has major consequences in terms of imperfectly competi- tive behavior: so, the analysis of differentiation allows for a richer discussion and comparison of price competition models vs quan- tity competition models. Also related to the practical question (for competition authori- ties) of market definition: set of goods highly substitutable among themselves and poorly substitutable with goods outside this set Bernard Caillaud Product differentiation Motivation Firms have in general an incentive to affect the degree of differ- entiation of their products compared to rivals'. Hence, differen- tiation is related to other aspects of firms’ strategies. Choice of products: firms choose how to differentiate from rivals, this impacts the type of products that they choose to offer and the diversity of products that consumers face. -
I. Externalities
Economics 1410 Fall 2017 Harvard University SECTION 8 I. Externalities 1. Consider a factory that emits pollution. The inverse demand for the good is Pd = 24 − Q and the inverse supply curve is Ps = 4 + Q. The marginal cost of the pollution is given by MC = 0:5Q. (a) What are the equilibrium price and quantity when there is no government intervention? (b) How much should the factory produce at the social optimum? (c) How large is the deadweight loss from the externality? (d) How large of a per-unit tax should the government impose to achieve the social optimum? 2. In Karro, Kansas, population 1,001, the only source of entertainment available is driving around in your car. The 1,001 Karraokers are all identical. They all like to drive, but hate congestion and pollution, resulting in the following utility function: Ui(f; d; t) = f + 16d − d2 − 6t=1000, where f is consumption of all goods but driving, d is the number of hours of driving Karraoker i does per day, and t is the total number of hours of driving all other Karraokers do per day. Assume that driving is free, that the unit price of food is $1, and that daily income is $40. (a) If an individual believes that the amount of driving he does wont affect the amount that others drive, how many hours per day will he choose to drive? (b) If everybody chooses this number of hours, then what is the total amount t of driving by other persons? (c) What will the utility of each resident be? (d) If everybody drives 6 hours a day, what will the utility level of each Karraoker be? (e) Suppose that the residents decided to pass a law restricting the total number of hours that anyone is allowed to drive. -
Utility with Decreasing Risk Aversion
144 UTILITY WITH DECREASING RISK AVERSION GARY G. VENTER Abstract Utility theory is discussed as a basis for premium calculation. Desirable features of utility functions are enumerated, including decreasing absolute risk aversion. Examples are given of functions meeting this requirement. Calculating premiums for simplified risk situations is advanced as a step towards selecting a specific utility function. An example of a more typical portfolio pricing problem is included. “The large rattling dice exhilarate me as torrents borne on a precipice flowing in a desert. To the winning player they are tipped with honey, slaying hirri in return by taking away the gambler’s all. Giving serious attention to my advice, play not with dice: pursue agriculture: delight in wealth so acquired.” KAVASHA Rig Veda X.3:5 Avoidance of risk situations has been regarded as prudent throughout history, but individuals with a preference for risk are also known. For many decision makers, the value of different potential levels of wealth is apparently not strictly proportional to the wealth level itself. A mathematical device to treat this is the utility function, which assigns a value to each wealth level. Thus, a 50-50 chance at double or nothing on your wealth level may or may not be felt equivalent to maintaining your present level; however, a 50-50 chance at nothing or the value of wealth that would double your utility (if such a value existed) would be equivalent to maintaining the present level, assuming that the utility of zero wealth is zero. This is more or less by definition, as the utility function is set up to make such comparisons possible. -
Game Theory: Preferences and Expected Utility
Game Theory: Preferences and Expected Utility Branislav L. Slantchev Department of Political Science, University of California – San Diego April 19, 2005 Contents. 1 Preferences 2 2 Utility Representation 4 3 Choice Under Uncertainty 5 3.1Lotteries............................................. 5 3.2PreferencesOverLotteries.................................. 7 3.3vNMExpectedUtilityFunctions............................... 9 3.4TheExpectedUtilityTheorem................................ 11 4 Risk Aversion 16 1 Preferences We want to examine the behavior of an individual, called a player, who must choose from among a set of outcomes. Begin by formalizing the set of outcomes from which this choice is to be made. Let X be the (finite) set of outcomes with common elements x,y,z. The elements of this set are mutually exclusive (choice of one implies rejection of the others). For example, X can represent the set of candidates in an election and the player needs to chose for whom to vote. Or it can represent a set of diplomatic and military actions—bombing, land invasion, sanctions—among which a player must choose one for implementation. The standard way to model the player is with his preference relation, sometimes called a binary relation. The relation on X represents the relative merits of any two outcomes for the player with respect to some criterion. For example, in mathematics the familiar weak inequality relation, ’≥’, defined on the set of integers, is interpreted as “integer x is at least as big as integer y” whenever we write x ≥ y. Similarly, a relation “is more liberal than,” denoted by ’P’, can be defined on the set of candidates, and interpreted as “candidate x is more liberal than candidate y” whenever we write xPy. -
TIME, PHILOSOPHY, and CHRONOPATHOLOGIES Jack Reynolds
PARRHESIA NUMBER 15 • 2012 • 64-80 TIME, PHILOSOPHY, AND CHRONOPATHOLOGIES Jack Reynolds This essay is an elaboration on some central themes and arguments from my recent book, Chronopathologies: Time and Politics in Deleuze, Derrida, Phenomenology and Analytic Philosophy (Rowman and Littlefield 2012). There is hence an element of generality to this essay that the book itself is better able to justify. But a short programmatic piece has its own virtues, especially for those of us who are time poor (which is pretty much everyone in contemporary academia). Moreover, it adds a dimension to the above book by more explicitly situating it in relation to what is an emerging view in some recent scholarship (such as John McCumber, Len Lawlor, David Hoy, and before this Liz Grosz) that time is central to the identity of continental philosophy, as well as considering some of the work that in different ways contests this kind of interpretation of the identity of continental philosophy (e.g. Simon Glendinning, and, tacitly, Paul Redding). In continuing to side with the former over the latter, I will also develop my argument that time is one of the most significant factors in the divided house that I think contemporary philosophy remains, and I conclude by offering a series of negative prescriptions regarding how we might better avoid particular chronopathologies, or time-sicknesses, that are endemic to these philosophical trajectories, and that are also present (to greater and lesser degrees) in the majority of individual philosophers standardly labeled analytic and continental. To the extent that such sicknesses are at least partly inevitable, akin to a transcendental illusion, this paper consists in a call to be more attentive to this tendency, and to the methodological, metaphilosophical, and ethico-political consequences that follow from them. -
Nine Lives of Neoliberalism
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Plehwe, Dieter (Ed.); Slobodian, Quinn (Ed.); Mirowski, Philip (Ed.) Book — Published Version Nine Lives of Neoliberalism Provided in Cooperation with: WZB Berlin Social Science Center Suggested Citation: Plehwe, Dieter (Ed.); Slobodian, Quinn (Ed.); Mirowski, Philip (Ed.) (2020) : Nine Lives of Neoliberalism, ISBN 978-1-78873-255-0, Verso, London, New York, NY, https://www.versobooks.com/books/3075-nine-lives-of-neoliberalism This Version is available at: http://hdl.handle.net/10419/215796 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative -
Economic Evaluation Glossary of Terms
Economic Evaluation Glossary of Terms A Attributable fraction: indirect health expenditures associated with a given diagnosis through other diseases or conditions (Prevented fraction: indicates the proportion of an outcome averted by the presence of an exposure that decreases the likelihood of the outcome; indicates the number or proportion of an outcome prevented by the “exposure”) Average cost: total resource cost, including all support and overhead costs, divided by the total units of output B Benefit-cost analysis (BCA): (or cost-benefit analysis) a type of economic analysis in which all costs and benefits are converted into monetary (dollar) values and results are expressed as either the net present value or the dollars of benefits per dollars expended Benefit-cost ratio: a mathematical comparison of the benefits divided by the costs of a project or intervention. When the benefit-cost ratio is greater than 1, benefits exceed costs C Comorbidity: presence of one or more serious conditions in addition to the primary disease or disorder Cost analysis: the process of estimating the cost of prevention activities; also called cost identification, programmatic cost analysis, cost outcome analysis, cost minimization analysis, or cost consequence analysis Cost effectiveness analysis (CEA): an economic analysis in which all costs are related to a single, common effect. Results are usually stated as additional cost expended per additional health outcome achieved. Results can be categorized as average cost-effectiveness, marginal cost-effectiveness, -
A Forum on Jacques Derrida's Specters of Marx After 25 Years
Contexto Internacional vol. 41(3) Sep/Dec 2019 http://dx.doi.org/10.1590/S0102-8529.2019410300007 The Political Import of Deconstruction—Derrida’s Limits?: Zehfuss, Vázquez-Arroyo, Bulley & Sokhi- A Forum on Jacques Derrida’s -Bulley Specters of Marx after 25 Years, Part I Maja Zehfuss* Antonio Y. Vázquez-Arroyo** Dan Bulley*** Bal Sokhi-Bulley**** Abstract: Jacques Derrida delivered the basis of The Specters of Marx: The State of the Debt, the Work of Mourning, & the New International as a plenary address at the conference ‘Whither Marxism?’ hosted by the University of California, Riverside, in 1993. The longer book version was published in French the same year and appeared in English and Portuguese the following year. In the decade after the publication of Specters, Derrida’s analyses provoked a large critical literature and invited both consternation and celebration by figures such as Antonio Negri, Wendy Brown and Frederic Jame- son. This forum seeks to stimulate new reflections on Derrida, deconstruction and Specters of Marx by considering how the futures past announced by the book have fared after an eventful quarter century. Maja Zehfuss, Antonio Vázquez-Arroyo and Dan Bulley and Bal Sokhi-Bulley offer sharp, occasionally exasperated, meditations on the political import of deconstruction and the limits of Derrida’s diagnoses in Specters of Marx but also identify possible paths forward for a global politics taking inspiration in Derrida’s work of the 1990s. Keywords: Derrida, Jacques; deconstruction; global politics; immigration; citizenship; ethics; friendship. * University of Manchester, Manchester, UK; [email protected]. ORCID iD 0000-0003-4651-4229.