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Game Theory for Applied EconomistsThis is very helpful in the formulation of the necessary strategies of the business. EXAMPLES OF GAME THEORY-EARLY CONTEXT AND DEVELOPMENT One of the earliest examples of game theory can be seen in the studies of Antoine Cournot in the year 1838. It studied the example of duopoly in the context of a formal type of game and theoretical analysis. The formal theory for the games was brought into the forefront by the mathematician Emile Borel, who had the suggestion of a formal theory of the games by the year 1921.It, was further developed by the likes of mathematicians like John von Neumann in the year 1928. The field of game theory was established as an entity in its own right after the publishing of seminal book called as Theory of...
12 Pages(3000 words)Essay
Classical argument... ical Argument Introduction Social media or social network is today an integral part of our lives. Social media is more than just sharing of information and ideas. The most common used form of social media includes Twitter, Facebook, Flickr, and Blogs. These social sites have facilitated creation and exchange of ideas in a fast rate as compared to the traditional media. The internet has grown at a vast rate into a vast net of services that not only entertains, but also serves as a requisite work aid. Initially, email was the useful internet service for the people. This was followed by the emergence of websites. To date, this great network has grown into a worldwide web accessible to all. This has transformed the internet... ical Argument...
6 Pages(1500 words)Research Paper
Economists...? Economists-Irving Fisher Affiliation: Outline Introduction 2. Significance of Irving Fisher’s Debt-deflation Theory a. Factors Led to the Great Depression i. Causes of Debt ii. Psychology of Debt b. Stages of Financial Crises and Solutions 3. Fisher’s Plan for the Current U.S Economy a. Fiscal Stimulus b. Reverse Deflation c. Prevention 4. Irving Fisher on Current Economic Policies a. Raising the Debt Ceiling b. Adjust Tax Rates 5. Conclusion Introduction Irving Fisher is among the famous economists in the U.S who experienced the Great Depressed of 1929-33 and proposed relevant solutions using theories and models to solve the prolonged financial crisis (Allen, 1977). Fisher was born in 1876 and received...
7 Pages(1750 words)Essay
Effects of Classical and Post-Classical Religions... Effects ical and Post ical Religions of salvation on societies Religions of salvation came into existence and with them great changes to the way people coexisted and operated. During the classical and post classical era, there were regional clustering among people; thus, they operated within their specific empires and economies under powerful leaders. Empires then were ruled and formed through forcefully making people submit to the desires and wishes of a leader. This was done through coercion and aggressive leadership where people felt obligated to the leadership and most operations were to the benefit of the administration. People were obligated to their respective empires and any attempt to disobey...
5 Pages(1250 words)Research Paper
Classical Liberalism...129).
A state that controls private property is akin to a dictatorship. Moreover, a state that strictly protects the right to private property, cannot address crises effectively. For instance, during times of war, natural disasters and economic depressions the state is empowered to control private property. However, classical liberalism requires the state to operate under certain limitations, while seizing private property. Therefore, a classical liberal society cannot survive in a real time environment and it cannot build gigantic projects like the Tennessee Valley Authority. Such classical liberal societies cannot deal with the Texas farmers in drought situations. There will be no...
3 Pages(750 words)Essay
Classical Music...that they were achieved by castrating boys before they reached maturity. The vocals used in the documentary suggests that the voices are not natural, neither male nor female voices. On the other hand, the documentary illustrates the practice of using male voices for musical voices, especially for sacred music in which women were forbidden.
The singers combined unique tempo and musical dynamics with variations in melody and combination of ornamentals to produce entertaining classics. The music was intense and elaborate melodic lines were often used. The use of liturgical musical styles features prominently in the documentary, illustrating the entertaining aspects of the European musical culture. There are also small...
1 Pages(250 words)Essay
Mathematics and statics for economists... Statistical project By: QUESTION ONE Distribution of happiness descriptive statistics Mean 4.820680628
Standard Error
0.095678992
Median
5
Mode
6
Standard Deviation
2.644619961
Sample Variance
6.994014739
Kurtosis
15.41579212
Skewness
-3.727494666
Range
16
Minimum
-9
Maximum
7
Sum
3683
Count
764
Confidence
Level (95.0%)
0.187825322
The mean level of happiness is 4.820680628 and the absolute value of the margin of error= 0.095678992. A 95% confidence interval for the level of happiness has an upper limit of 4.820680628+0.095678992 and a lower limit of 4.820680628-0.095678992. All the intervals formed this way 95% contains the mean of the population. The standard deviation of the level of happiness is 2.644619961. The Skewness... Statistical ...
5 Pages(1250 words)Statistics Project
Classical political economists...Due Impact of Karl Marx on Modern Political Economic Theory. Marx’s methodological approach to dialecticalmaterialism–which he implied is superior to the vulgar bourgeois economists’ approaches. You would need to explain the basic elements of dialectical materialism; why Marx considered this approach to be superior to other approaches (you must describe how Marx would characterize at least one other inferior approach); and how Marx uses the dialectical materialist approach to analyze capitalism. You could refer to our class discussion on the meanings of rationalistic subjectivism and the concepts of objectivism and subjectivism.
b. Marx’s consistent use of the labor theory of value versus other theories of value.
c....
6 Pages(1500 words)Assignment
Classical conditioning...is Molly’s fiancé.
This case shows a change in the behavior of Molly toward the ringtone. Originally, she has no connection with the ringtone and does not show any response or reaction to it. Now, she smiles and feels good whenever and wherever she hears the ringtone. This radical change in behavior is attributed to classical conditioning.
Case 2
Stage 1: Before Conditioning
John and Martha are class-fellows. They don’t have any strong feelings for each other. John, to Martha, is no more special than Bane or Dick. Likewise, Martha is just as ordinary as Jessica and Bianca. John likes the perfume Blue Lady very much because his late girlfriend used to wear it. He becomes happy every time he smells it. Here Martha is...
3 Pages(750 words)Essay
Keynesian economists...of government interference in business as per the suggestions of Keynesian economists.
Keynesian Economics and Aggregate Demand
Keynesian economics is based on aggregate demand and government intervention. The theory was created by John Maynard Keyes to explain the Great Depression in the 1930s (Samuelson & Nordhaus, 2010). At the time, the classical economics theories assumed that the free market would automatically self-regulate by providing employment and sustain the economy. Goods and services’ total demand in the economy at a specified time is aggregate demand. Prior to Keynesian economics, the assumption was that a decrease in aggregate demand in the economy would result in fewer goods and job...
5 Pages(1250 words)Essay
