scholarly journals The Essence of Cryptocurrencies: Descriptive and Comparative Analysis

2019 ◽  
Vol 23 (6) ◽  
pp. 36-49 ◽  
Author(s):  
E. V. Sinel’nikova-Muryleva ◽  
K. D. Shilov ◽  
A. V. Zubarev
Keyword(s):  
Economic Theory ◽  
Comparative Analysis ◽  
Theoretical Analysis ◽  
Concept Analysis ◽  
Main Function ◽  
Smart Contracts ◽  
Private Money ◽  
National Organizations ◽  
Modern Economic ◽  
Basic Characteristics

The aim of the article is to systematize the views on the concept of cryptocurrency from the literature and among international and national organizations and regulators, to analyze its economic essence and the place in the modern monetary and financial system. The definition and the functions of cryptocurrency are discussed in the framework of descriptive and theoretical analysis. The paper systematized the existing approaches to the concept analysis of cryptocurrency; the place of cryptocurrency in modern economic theory is shown.The article concludes that cryptocurrencies are often determined through the set of basic characteristics. Cryptocurrencies are not money, though they can perform the main function of money — to be a means of payment; they can be a means of making settlements, assets, platforms for concluding smart contracts, a means for crowdfunding. They are not private money in Hayek’s interpretation. Cryptocurrencies can be described in the framework of the models of new monetarism (payment economics).

Methodological Principles of Keynes’ Theory and His «Strife over Method» with Tinbergen

2007 ◽  
pp. 25-36 ◽  
Author(s):  
I. Rozmainsky
Keyword(s):  
Economic Theory ◽  
Critical View ◽  
Modern Economic ◽  
Methodological Principles

The author analyzes Keynes-Tinbergen controversy in the context of Keynes’ methodological ideas, which he thinks are fully opposite to the methodology of modern economic theory. Using different Keynes’ papers the author considers this difference in detail and shows its links to the critical view held by Keynes towards econometrics

Beyond GDP: The Quest for a Measure of Social Welfare. Part I

2012 ◽  
pp. 67-93 ◽  
Author(s):  
M. Fleurbaey
Keyword(s):  
Economic Theory ◽  
Social Welfare ◽  
Well Being ◽  
National Product ◽  
Future Generations ◽  
Modern Economic ◽  
Aggregate Wealth ◽  
Net National Product ◽  
Sustainability Policy ◽  
Beyond Gdp

The first part of the paper is devoted to the monetary indicators of social welfare. It is shown which methods of quantitative estimating the aggregate wealth and well-being are available in the modern economic theory apart from the traditional GDP measure. The limitations of the methods are also discussed. The author shows which measures of welfare are adequate in the dynamic context: he considers the problems of intertemporal welfare analysis using the Net National Product (NNP) for the sustainability policy and in the context of concern for well-being of the future generations.

Some Developments in Economic Theory Since 1940: An Eyewitness Account

2010 ◽  
pp. 4-23 ◽  
Author(s):  
K. Arrow
Keyword(s):  
Economic Theory ◽  
General Equilibrium ◽  
Equilibrium Theory ◽  
General Equilibrium Theory ◽  
Economics Of Information ◽  
Modern Economic ◽  
Eyewitness Account ◽  
Theory Uncertainty ◽  
Professional Formation

The article considers the evolution of some branches of modern economic theory from the perspective of the authors biography as a scientist and his professional formation. It describes problems of econometrics, general equilibrium theory, uncertainty, economics of information, and growth. It is shown how different authors representing various fields came to similar conclusions simultaneously and independently, what were the problems, in response to which economists of the second half of last century developed their theories, and what were the contexts of such development.

B is for Bias

2014 ◽  
Vol 3 (2) ◽  
pp. 35-47
Author(s):  
Calin Valsan
Keyword(s):  
Economic Theory ◽  
Rational Expectations ◽  
Economic Environment ◽  
Rational Agents ◽  
Economic Agents ◽  
Behavioral Biases ◽  
The Social ◽  
Modern Economic

Standard economic theory assumes rational agents. Individuals are expected to have rational expectations and constantly optimize their choices. Modern economic and financial theory is build under the assumption of rationality. There is plenty of evidence from psychology, however, that individuals are biased and rely heavily on heuristics in order to make decisions. Yet, this is not a mere fluke, a behavioral oddity. Because the social and economic environment in which individuals evolve is complex, behavioral biases represent evolutionary adaptations allowing economic agents to deal with undecidability and computational irreducibility.

THE CONCEPT OF INFRAMARGINAL ANALYSIS IN THE STRUCTURE OF THE DEVELOPMENT OF MODERN ECONOMIC THEORY

2021 ◽  
pp. 6-14
Author(s):  
E. A. Gasanov
Keyword(s):  
Economic Theory ◽  
Special Section ◽  
Key Characteristics ◽  
Modern Economic

Inframarginal analysis is a special section of modern economic theory. The article describes the essence of the inframarginal approach, examines its general theoretical origins and presents key characteristics

scholarly journals Martín de Azpilcueta: The Spanish Scholastic on Usury and Time-Preference

Studia Humana ◽  
2020 ◽  
Vol 9 (2) ◽  
pp. 28-36
Author(s):  
Pedro J. Caranti
Keyword(s):  
Economic Theory ◽  
Golden Age ◽  
Time Preference ◽  
Economic Thought ◽  
Preference Theory ◽  
Modern Economic ◽  
The University

AbstractMartín de Azpilcueta and his fellow Spanish Scholastics writing and teaching at the University of Salamanca during Spain’s Golden Age are rightly pointed to by historians of economic thought as being major contributors toward, if not outright founders of modern economic theory. Among these is the theory of time-preference for which Azpilcueta has repeatedly been given the credit for discovering. However, this discovery is a curious one given how the same man, Azpilcueta, condemned usury in general during his whole life. If Azpilcueta did in fact discover this theory and fully understand its implications, we would reasonably expect him to have questioned his support for the ban on charging an interest on a loan. This paper, therefore, challenges the claim that Azpilcueta understood and revived time-preference theory and shows how his understanding was much more nuanced, and, at times, inconsistent.

scholarly journals Comparative analysis of methods to determine deflection in steel beams: theoretical analysis, finite element and experimental

2020 ◽  
pp. 32-37
Author(s):  
Gabriela Alor-Saavedra ◽  
Francisco Alejandro Alaffita-Hernández ◽  
Beatris Adriana Escobedo-Trujillo ◽  
Oscar Fernando Silva-Aguilar
Keyword(s):  
Differential Equation ◽  
Experimental Data ◽  
Finite Element ◽  
Comparative Analysis ◽  
Theoretical Analysis ◽  
Comparative Study ◽  
Steel Beams ◽  
Physical Systems ◽  
Theoretical Part ◽  
Made In

This work makes a comparative study of two methods to determine deflection in steel beams: (a) Theoretical and (b) Finite element. For method (a) the solution of the differential equation associated with the modeling of the deflection of a beam is found, while for method (b) a simulation is made in Solidworks. Both methods are compared with experimental data in order to analyze which of the methods presents less uncertainty and show the usefulness of the theoretical part in the modeling of physical systems.

Sign in / Sign up

Export Citation Format

Share Document