The entire thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file; a non-technical public abstract appears in the public.pdf file. Title from PDF of title page (University of Missouri--Columbia, viewed on March 23, 2010). Thesis advisors: Dr. X. H. Wang and Dr. Allanus Tsoi. Includes bibliographical references.

Thesis (doctoral)--Uppsala University, 1991"--T.p. verso. / Includes bibliographical references.

This thesis is mainly concerned with the question whether 'conventional' economic theory - especially the neoclassical theory of general equilibrium - is sufficiently flexible to accommodate the particular conditions prevailing in the developing countries. It is argued that most existing theories of economic underdevelopment adopt an interpretative approach which essentially amounts to relaxing some of the chief assumptions of the neoclassical theory. When applied to the two-sector model of general equilibrium, these theories generally yield predictions which are vastly different from those associated with the neoclassical assumptions of perfect competition, unlimited factor substitutability and unrestricted resource mobility. Several theories seek to explain the development problem in terms of the specific production processes used in poor countries. Myrdal's (1957) theory of cumulative causation, for example, effectively introduces increasing returns to scale in at least one sector or region of the economy; in contrast to the neoclassical theory, he thus nvisages a cumulative process of regional divergence in the output level per worker. Similarly, Richard Eckaus's (1955) explanation of the "factor-proportions problem" is based on the assumption of limited factor substitutability. This enables him to establish the existence of a so-called "unemployment equiIibrium", thus implying that developing countries may be faced with a conflict between the objective of maximizing social -welfare on the one hand, and that of full employment on the other. More recently, Leibenstein (1960) has shown that this trade-off may be complicated by the introduction of capital-biased technological inventions and innovations. The solution to the factor-proportions problem consists in the adoption of more appropriate, usually labour-biased technologies, increased capital formation and a reduction in the rate of population growth. Much of the postwar literature on economic development has focused on the imperfectly competitive structure of the product and the factor markets in developing countries. Myint (1954) has highlighted the role played by monopolies and ligopolies during the "opening-up" process of economic development. Likewise, both Lewis's (1954) dualist theory and Todaro's (1969; 1971) model of rural-urban migration attempt to explain the unemployment problem in terms of various factor price distortions. In an international context, Prebisch (1950; 1959) and Singer (1950) have again shown how prevailing differences in the structure of markets between developed and developing countries may turn the terms of trade against the latter; using a two-sector model, Bhagwati (1958) has demonstrated that such a deterioration in the terms of trade could bring about a net decrease in the welfare level of the countries concerned. Generally, the policy measures relevant to the "market imperfections" problem include the creation of job opportunities in the rural (rather than urban) sector, the encouragement of informal-sector enterprises,and the imposition of factor taxes and subsidies as a means of counteracting the adverse effect of factor price distortions on employment. A more recent approach to the unemployment problem is the plea by the International Labor Office (1970; 1972) for a redistribution of income within the developing countries. In terms of the two-sector model, such a policy may well succeed in eliminating labour unemployment caused by fixed factor proportions and/or factor price distortions. It should be realized, though, that a redistribution of income may lower the aggregate savings level, and hence also the growth rates of capital and labour employment in the economy. On the whole, it would seem that these theories do indeed adopt a modified version of the neoclassical theory in providing a fairly comprehensive explanation of the economic problems of labour unemployment, low incomes and inequality.

Doctorat en sciences sociales, politiques et économiques / info:eu-repo/semantics/nonPublished

Doctorat en sciences sociales, politiques et économiques / info:eu-repo/semantics/nonPublished

Traditional economic theory assumes that individuals are self-interested. They only care about their own well-being and disregard the impact of their actions on the others. However, the assumption of selfish individuals is unable to explain a number of important phenomena and puzzles. Individuals frequently engage in actions that are costly to themselves with no<p>apparent reward. Behavioural economics provides plausible explanations for these actions.<p>Individuals can be “boundedly rational" (Simon, 1955, and Kahneman et al. 1982) and/or can be driven by altruistic, equity and reciprocity considerations (see for an overview Fehr<p>and Schmidt, 2006). Over the past decade, researchers have applied behavioural economics<p>models to the study of organisations and how contracts should be designed in the presence<p>of non-standard preferences and asymmetric information or incomplete contracts (see for<p>an overview of the literature Köszegi, 2014).<p>In my current research, I try to be at the forefront of these new behavioural economics<p>applications into traditional industrial organisation and contract theory themes. The usual prescriptions of standard models can be misleading if potential differences in the agents' preferences are overlooked. Behavioural economics can make great progress if it takes into proper accountmarket and organisational features. / Doctorat en Sciences économiques et de gestion / info:eu-repo/semantics/nonPublished

Doctorat en sciences sociales, politiques et économiques / info:eu-repo/semantics/nonPublished

Doctorat en sciences sociales, politiques et économiques / info:eu-repo/semantics/nonPublished

Doctorat en sciences sociales, politiques et économiques / info:eu-repo/semantics/nonPublished

Doctorat en sciences sociales, politiques et économiques / info:eu-repo/semantics/nonPublished