Consider a two player game that is to be played once. The players receive information that they use to help them predict the choices made by each other. A decision rule for each player captures how each player uses the information received in making their choices. Priors in this context are...

Numeraire choice is often deemed a problem of purely analytical convenience. In this paper I show that there is more to numeraire selection than meets the eye for the formulation of monetary policy in countries with weak fiscal institutions. I show how (a) improper numeraire choice can...

The Handbook illuminates complex facets of the economic and social provisioning process across the globe. The contributors – academics, policy analysts and practitioners from wide-ranging areas of expertise – discuss the methodological approaches to, and analytical tools for,...

I examine the work of POLANYI [1957] to extract from it hypotheses related to the emergence and operation of the capitalist system. I adapt models from the literature on complex adaptive systems and evolutionary game theory to build a fictitious society in which I "test" those hypotheses. The...

In the present paper I introduce the revelation principle of bounded rationality. The principle states that any behavior that a model of bounded rationality exhibits can be implemented as the choice of an agent with preferences and beliefs consistent with Savage-Bayesian rationality. The...

In this paper I study the El Farol problem, a deterministic, boundedly rational, multi-agent model of a resource subject to congestion externalities that was initially studied computationally by Arthur (1994). I represent the interaction as a game, compute the set of Nash equilibria in mixed...

In 2010 the UNDP unveiled a new methodology for the calculation of the Human Development Index (HDI). In this paper I investigate the normative and practical properties of this change vis a vis the original formulation of the HDI in 1990. The main conceptual innovation of the new index can be...

Gender inequality remains a major barrier to human development. Girls and women have made major strides since 1990, but they have not yet gained gender equity. In this paper, we review ways to measure and monitor gender inequality, providing a critique of existing measures including the first...