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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 or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Theories
Economics () is the social 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 analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational and be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moral Psychology
Moral psychology is a field of study in both philosophy and psychology. Historically, the term "moral psychology" was used relatively narrowly to refer to the study of moral development. 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 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 cultural basis of moral judgment and behavior, and a growing body of research on moral judgment in the context of artificia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stanford University
Stanford University, officially Leland Stanford Junior University, is a private research university in Stanford, California. The campus occupies , among the largest in the United States, and enrolls over 17,000 students. Stanford is considered among the most prestigious universities in the world. Stanford was founded in 1885 by Leland and Jane Stanford in memory of their only child, Leland Stanford Jr., who had died of typhoid fever at age 15 the previous year. Leland Stanford was a U.S. senator and former governor of California who made his fortune as a railroad tycoon. The school admitted its first students on October 1, 1891, as a coeducational and non-denominational institution. Stanford University struggled financially after the death of Leland Stanford in 1893 and again after much of the campus was damaged by the 1906 San Francisco earthquake. Following World War II, provost of Stanford Frederick Terman inspired and supported faculty and graduates' entrepreneu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Queensland
, mottoeng = By means of knowledge and hard work , established = , endowment = A$224.3 million , budget = A$2.1 billion , type = Public research university , chancellor = Peter Varghese , vice_chancellor = Deborah Terry , city = Brisbane, Queensland, Australia , students = 55,305 (2019) , undergrad = 35,051 (2019) , postgrad = 19,939 (2019) , faculty = 2,854 , campus = Multiple sites , colours = Purple , affiliations = Group of Eight Universitas 21 ASAIHL EdX , website = , logo = Logo of the University of Queensland.svg , coor = The University of Queensland (UQ, or Queensland University) is a 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. As per 2023, The University of Queensland is ranked as 2nd in Australia and 42nd in the world. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Master Of Science
A Master of Science ( la, Magisterii Scientiae; abbreviated MS, M.S., MSc, M.Sc., SM, S.M., ScM or Sc.M.) is a master's degree in the field of science awarded by universities in many countries or a person holding such a 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 first 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. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Melbourne
The University of Melbourne is a public research university located in Melbourne, Australia. Founded in 1853, it is Australia's second oldest university and the oldest in Victoria. Its main campus is located in Parkville, an inner suburb north of Melbourne's central business district, with several other campuses located across Victoria. Incorporated in the 19th century by the colony of Victoria, the University of Melbourne is one of Australia's six sandstone universities and a member of the Group of Eight, Universitas 21, Washington University's McDonnell International Scholars Academy, and the Association of Pacific Rim Universities. Since 1872, many residential colleges have become affiliated with the university, providing accommodation for students and faculty, and academic, sporting and cultural programs. There are ten colleges located on the main campus and in nearby suburbs. The university comprises ten separate academic units and is associated with numerou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bachelor Of Commerce
A Bachelor of Commerce (abbreviated BComm or BCom; also, ''baccalaureates commercii'') is an undergraduate degree in business, usually awarded in Canada, Australia, India, Sri Lanka, Pakistan, Ireland, New Zealand, Ghana, South Africa, Myanmar, Egypt, and additional Commonwealth countries. The degree was previously offered in the United Kingdom. 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). 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 instituti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Cambridge
, mottoeng = Literal: From here, light and sacred draughts. Non literal: From this place, we gain enlightenment and precious knowledge. , established = , other_name = The Chancellor, Masters and Scholars of the University of Cambridge , type = Public research university , endowment = £7.121 billion (including colleges) , budget = £2.308 billion (excluding colleges) , chancellor = The Lord Sainsbury of Turville , vice_chancellor = Anthony Freeling , students = 24,450 (2020) , undergrad = 12,850 (2020) , postgrad = 11,600 (2020) , city = Cambridge , country = England , campus_type = , sporting_affiliations = The Sporting Blue , colours = Cambridge Blue , website = , logo = University of Cambridge log ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Drexel University
Drexel University is a private research university with its main campus in Philadelphia, Pennsylvania. Drexel's undergraduate school was founded in 1891 by 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 prominent 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 Drexel University was founded in 1891 as the Drexel Institute of Art, Science and Industry, by Philadelphia financier and philanthropist Anthony J. Drexel. The or ... [...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 the U ... [...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 price on all ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rational Choice Theory
Rational choice theory refers to a set of guidelines that help understand economic and social behaviour. The theory originated in the eighteenth century and can be traced back to political economist and philosopher, Adam Smith. The theory postulates that an individual will perform a cost-benefit analysis to determine whether an option is right for them.Gary Browning, Abigail Halcli, Frank Webster (2000). ''Understanding Contemporary Society: Theories of the Present'', London: SAGE Publications. It also suggests that an individual's self-driven rational actions will help better the overall economy. Rational choice theory looks at three concepts: rational actors, self interest and the invisible hand. Rationality can be used as an assumption for the behaviour of individuals in a wide range of contexts outside of economics. It is also used in political science, sociology, and philosophy. Overview The basic premise of rational choice theory is that the decisions made by individu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
