The tax overhaul bill before Congress has a professed rationale that rests on economic theory. As neuroscientists who study decision making, we would like to raise a very serious objection to this ...

Most economists subscribe to a belief in “positive economics,” which means that economic theory flows from economic data. Thus, all theory can be tested for ...

Discover how demand-side economics supports economic growth through government intervention and increased aggregate demand.

Classical economic theory defines the factors of production as the three broad categories of input -- capital, labor and land (or natural resources) -- that contribute to the production of finished ...

Keynes challenged the fundamental theories of classical economics and influenced European and American economic policies throughout World War I, the Great Depression, and World War II. How did Keynes’ ...

Decision theory is a cornerstone of economic analysis, providing a framework for understanding how individuals and institutions make choices under conditions of uncertainty and risk. At its core, the ...

The Theory of Games From it is being forged a new tool for the analysis of social and economic behavior. The new approach already has shown its superiority to classical economic theory ...