There is little agreement about either the effect of executive compensation on corporate performance or the best way to measure the strength of executive incentives. With little guidance from academic research, managers and directors continue to rely heavily on the percentage of pay "at risk" as...

Modelling price formation in electricity markets is a notoriously difficult process, due to physical constraints on electricity generation and transmission, and the potential for market power. This difficulty has inspired the recent development of bottom-up agent-based algorithmic learning...

In the 1990s, institutional and evolutionary economics emerged as one of the most creative and successful approaches in the modern social sciences. This timely reader gathers together seminal contributions from leading international authors in the field of institutional and evolutionary...

Recently the claim that post-Keynesianism represents a coherent alternative to orthodox/neoclassical theory has regained favor with many leading post-Keynesians. The purpose of this paper is to consider the basis for any such claim that post-Keynesianism is a coherent alternative. A variety of...

This paper considers the claim that critical realism provides a convincing critique of mainstream economics and offers a sound methodological basis for an alternative approach. It argues that critical realism presents a tendentious definition of positivism and a characterisation of mainstream...

Changing patterns of demand for agricultural products have prompted agricultural economists to consider the causes of such changes. However, the standard theory of consumer behaviour which forms the basis of their analyses is arguably ill-designed to deal with such issues. It is argued that...

We deal with the main points of Fleetwood's response to our earlier paper and argue that our main contentions remain intact. Critical Realism (CR) remains epistemologically weak; its claims for the usefulness of explanatory power are unconvincing; and, in particular, it provides little help in...