Η επιστροφή του Σεφέρη στη Μικρά Ασία: τόπος – ταυτότητα – Μνήμη

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The history of the mainstream rejection of interdependent preferences

The notion of interdependent preferences has a long history in economic thought. It can be found in the works of authors such as Hume, Rae, Genovesi, Smith, Marx and Mill among others. In the 20th century, the idea became more widespread mainly through the works of Veblen and Duesenberry. Recently, an increasing number of theorists are interested in issues like reference income, relative consumption and positional goods which are all based on the concept of interdependent preferences. However, such preferences were never part of the corpus of orthodox theory. For instance, although Pareto and Marshall were aware of their existence, they rejected their incorporation into economic theory. There were various reasons for this rejection. The structure of mainstream economic methodology might be one reason. Another reason had to do with the theoretical implications of adopting interdependent preferences. The paper discusses the main historical aspects of this idea in relation to the mainstream resistance to incorporate it in orthodox economic theory

THE CONCEPT OF COMPARISON INCOME: AN HISTORICAL PERSPECTIVE

Theories of social comparison have a long presence in the social sciences and have provided many useful insights. In economics, the idea of comparison, aspiration or relative income belongs to this theoretical framework. The first systematic usages of this idea can be found in the works of Keynes and Duesenberry. After these works the concept was relatively ignored by orthodox theorists until its recent re-appearance mainly in the fields of labour and macroeconomics. To the contrary, however, income comparisons continued to play a role in much of Keynesian inspired and Behavioural economics literature. In the last few years it has made a strong comeback in the literature of job satisfaction and of the economics of happiness. This paper attempts to trace the development of the concept in the modern history of economic thought. It also discusses the main theoretical implications of adopting income comparisons and possible reasons for its relative disregard by orthodox economics.Relative Income; History of Economic Thought; Wages

Economic Policies, Political Considerations and Overall Health

Socioeconomic factors play a crucial role in determining physiological and psychological health levels of the population. The level of unemployment, income inequality and poverty levels are largely affected by economic policies and the economic cycles. Economic policies can also influence the occurrence of economic cycles which in turn influence socioeconomic factors and therefore health inequalities. Economic policies are influenced by political considerations as the historical record of many countries indicates. The paper discusses the conduct and the effects of economic policy on health inequalities. It starts with a discussion of the need and of the instruments of economic policy and also its effectiveness in smoothing the economic cycle. It also examines the interplay between main policy targets such as unemployment and inflation with political considerations. Finally, it concentrates on the effects of economic policies for health inequalities in view of economic recessions.Economic Policy, Health, Socio-economic Factors

Trade Union Priorities and Wage Rigidity

The starting point of the paper is that trade unions engage in substitution once certain targets have been met. This implies that a priority-based or hierarchical model might be a better approximation to union behaviour. This model requires a two-part union utility function which changes when a satisfactory (or target) level of the priority variable (e.g. the wage rate) is met. After demonstrating the workings of such a model in a monopoly union framework, it is shown that when the wage is below the target level, there is real wage rigidity. Employment increases only when the target wage has been achievedTrade Unions; Wages

Economic Policies, Socieconomic Factors and Overall Health: A Short Review

Many researchers have found that socioeconomic factors play a crucial role in determining physiological and psychological health levels of the population. This implies that socioeconomic inequalities tend to produce health inequalities. It is also generally accepted that the level of unemployment, income inequality and poverty levels are largely affected by economic policies and the economic cycles. They can also influence economic growth, human capital levels and thus productivity which play an important role on health inequalities. Economic policies can also influence the occurrence, frequency, duration and the strength of economic cycles which in turn influence socioeconomic factors and therefore health inequalities. Thus, this short review will discuss the conduct and the effects of economic policy on health inequalities especially during recessionary periods. The paper starts with a discussion of the need and of the instruments of economic policy and also its effectiveness in smoothing the economic cycle. It also examines the interplay between main policy targets such as unemployment and inflation with political considerations. Finally, it concentrates on the effects of economic policies for health inequalities in view of economic recessions.Economic Policy; Health; Socio-economics

Economic Policies, Socieconomic Factors and Overall Health: A Short Review

Many researchers have found that socioeconomic factors play a crucial role in determining physiological and psychological health levels of the population. This implies that socioeconomic inequalities tend to produce health inequalities. It is also generally accepted that the level of unemployment, income inequality and poverty levels are largely affected by economic policies and the economic cycles. They can also influence economic growth, human capital levels and thus productivity which play an important role on health inequalities. Economic policies can also influence the occurrence, frequency, duration and the strength of economic cycles which in turn influence socioeconomic factors and therefore health inequalities. Thus, this short review will discuss the conduct and the effects of economic policy on health inequalities especially during recessionary periods. The paper starts with a discussion of the need and of the instruments of economic policy and also its effectiveness in smoothing the economic cycle. It also examines the interplay between main policy targets such as unemployment and inflation with political considerations. Finally, it concentrates on the effects of economic policies for health inequalities in view of economic recessions.Economic Policy, Health, Socio-economic Factors.

An Evaluation of Age Effects on Driver Comprehension of Flashing Traffic Signal Indications using Multivariate Multiple Response Analysis of Variance Models

Objective: The objective of this experiment was to identify whether drivers comprehended traffic signals differently when turning left at signalized intersections where traffic signals were in “flashing mode” operation. Method:Multivariate multiple response analysis of variance models were used to analyze the simultaneous effects of displayed color combination, age, and geographical location on signal message interpretation. Data were gathered in a laboratory environment. Results: Left-turn and through-signal color combination had a significant effect on subject comprehension. Comprehension was found to be lowest for displays flashing red only, followed by displays flashing red on the left-turn, and yellow on the through-signal, with best comprehended displays flashing yellow only. No overall significant age effects were identified, with one minor exception. No geographical region effects were identified. Signal section arrangement and the use of an arrow or circular illuminated lens had no significant effect on comprehension. Discussion: Traffic signal displays in “flashing mode” operation were previously identified as the least well-comprehended displays for drivers turning left. The present effort identified that this is mainly due to displays flashing red indications on the through-signal. Comprehension of displays flashing yellow indications on the through-signal is comparable to that of permitted left-turn indications. Impact on the Industry: There is a need to develop alternatives for signal displays flashing red indications on the through-signal because a large percentage of drivers facing such indications mistakenly think they have the right-of-way when, in fact, they do not. However, use of such displays on minor streets intersecting major streets cannot currently be avoided when signals are placed in flashing operation. Practitioners using flashing signal operations need not be concerned about signal message comprehension differences among age groups. They can use any among the analyzed alternative signals that convey a given message without impacting signal message comprehension

On Learning with Finite Memory

We consider an infinite collection of agents who make decisions, sequentially, about an unknown underlying binary state of the world. Each agent, prior to making a decision, receives an independent private signal whose distribution depends on the state of the world. Moreover, each agent also observes the decisions of its last K immediate predecessors. We study conditions under which the agent decisions converge to the correct value of the underlying state. We focus on the case where the private signals have bounded information content and investigate whether learning is possible, that is, whether there exist decision rules for the different agents that result in the convergence of their sequence of individual decisions to the correct state of the world. We first consider learning in the almost sure sense and show that it is impossible, for any value of K. We then explore the possibility of convergence in probability of the decisions to the correct state. Here, a distinction arises: if K equals 1, learning in probability is impossible under any decision rule, while for K greater or equal to 2, we design a decision rule that achieves it. We finally consider a new model, involving forward looking strategic agents, each of which maximizes the discounted sum (over all agents) of the probabilities of a correct decision. (The case, studied in previous literature, of myopic agents who maximize the probability of their own decision being correct is an extreme special case.) We show that for any value of K, for any equilibrium of the associated Bayesian game, and under the assumption that each private signal has bounded information content, learning in probability fails to obtain

Heavy Vehicle Performance During Recovery From Forced-Flow Urban Freeway Conditions Due To Incidents, Work Zones and Recurring Congestion

Information contained in the Highway Capacity Manual on the influence heavy vehicles have on freeway traffic operations has been based on few field data collection efforts and relied mostly on traffic simulation efforts. In the 2010 Manual heavy vehicle impact is evaluated based on “passenger car equivalent” values for buses, recreational vehicles and trucks. These values were calibrated for relatively uncongested freeway conditions (levels of service A through C) since inadequate field data on heavy vehicle behavior under congested conditions were available. A number of field data collection efforts, that were not included in deriving the passenger car equivalent values used in the Highway Capacity Manual, indicated that heavy vehicle impacts on traffic operations may increase as freeway congestion levels increase and freeways operate under unstable flow conditions. The goal of the present effort was to collect and analyze field data with an emphasis on heavy vehicle behavior under lower speeds and derive passenger car equivalent values under such conditions