POS week 5

 0    34 flashcards    dklekowski
tải về mp3 In chơi tự kiểm tra
 
câu hỏi English câu trả lời English
microeconomics research
bắt đầu học
examines preferences and choices of individuals
macroeconomics research
bắt đầu học
trends at much higher level of aggregation
methodological individualism
bắt đầu học
individuals determine the way society is
ontological individualism
bắt đầu học
in reality no supra-individual entities exist, only aggregate outcomes of the actions and behaviours of individuals
Character of the analysis
bắt đầu học
1. Explaining phenomena - perspective of spectator; 2. Understanding phenomena - perspective of participant
Hermeneutics
bắt đầu học
art of interpretation; understanding meanings; the goal of science is not only to predict but to understand people's behaviour, hence we should assume the perspective of the participant and try to interpret their aims and find their reasons
Rational Choice Theory
bắt đầu học
method through which we can try to understand social institutions and social changes as resulting from there actions and interactions of rational individuals
rational individuals
bắt đầu học
individuals who try to optimise their own preferences to the fullest
Considerations of Rational Choice Theory
bắt đầu học
society to be a cooperation of individuals who tune their behaviour, cuz it is the best way for them to fulfil their goals; RCT assumes that all individuals act as perfectly rational beings
perfectly rational beings
bắt đầu học
people's preferences are ordered according to priority; individuals do have all information about all options and results; they are capable of calculating the best mix of results
strategic rationality
bắt đầu học
you anticipate others' choices as best as you can
problem of coordination in a coordination game
bắt đầu học
such model always involves at least two individuals and two options, the results can be seen as levels of utility or priorities in succession. 1 represents the highest, 4 the lowest. When an equilibrium is possible, all players will get to it
Nash equilibrium
bắt đầu học
combination of choices of which no choice can be changed to the benefit of any of the players
Pareto optimal results
bắt đầu học
combination of choices in which none of the players can benefit from changing their choice without harming at leats one of the other players
Prisoner's Dilemma
bắt đầu học
it showcases why we need not only conventions, but also a government that can impose sanctions for not keeping to conventions
Claims of Rational Choice Theory
bắt đầu học
it assumes that individuals will strive to have their preferences satisfied, but those don't need to be egoistic; the problem with RCT is that it can only make claims about the behaviour of agents, but at the same time it draws conclusions about actors
behaviourist conception of preference
bắt đầu học
subject choose what they prefer, so their choice reveal their preferences
mentalist conception of preference
bắt đầu học
subjects prefer what they find most agreeable and what gives them most pleasure
meta-theory
bắt đầu học
theory about theory; assumptions, ambitions, models of explanation, epistemologies methodological prescriptions; theories sharing similar assumptions
types of meta-theoretical questions
bắt đầu học
ontological - individualism or holism?; is social reality socially constructed?; epistemological - what type of explanation should we look for? explaining vs understanding
Explanations and their aims
bắt đầu học
Causal and functional - explaining; Intentional - understanding
Rational Choice Paradigm
bắt đầu học
individual, explaining; explain behaviour and social level outcomes from the rational choices of individual agents
Assumptions of Rational Choice Paradigm
bắt đầu học
1. Methodological Individualism; 2. Agents are fully self-interested; 3. Agents are perfectly rational
Methodological Individualism - 1st Assumption of RC Paradigm
bắt đầu học
social phenomena (rules, institutions) really exist, but we can explain them only form the actions and behaviours of individuals; i.e. institutions - meeting the needs of society by filling certain roles&behaviours
Self-interest - 2nd Assumption of RC Paradigm
bắt đầu học
agents exclusively seek to maximise their own welfare; welfare of others is only relevant insofar it figures in one's own preference ordering
Rationality - 3rd Assumption of RC Paradigm
bắt đầu học
rational agents have a complete and consistent preference ordering, all options included in preference ordering; rational agents have all relevant info and perfectly functioning computer on board (in our minds)
Endowment effect
bắt đầu học
we tend to value things higher than their market value when they belong to us
IKEA effect
bắt đầu học
if we invest labor in something, we value it higher
Two forms of rationality
bắt đầu học
1. Parametric rationality - assumes the choices of others to be known in advance; 2. Strategic rationality - takes into consideration the rational choices of other agents, who try to anticipate your actions
Game Theory
bắt đầu học
process of modelling strategic interaction between two or more players in the situation containing certain rules and outcomes
Game theory - concepts
bắt đầu học
explains patterns of behaviour and institutions from interdependent rational choices; strategic rationality; Nash-equilibrium; Pareto-optimal; coordination problem - how can I make people cooperate?; motivational problem - how can I make people work hard?
Agency theory
bắt đầu học
parametric rationality, helps to resolve issues in relationships between human interactions
Agency relationships lead to agency problems because:
bắt đầu học
conflicts of interest between agent and principal; info/knowledge asymmetry; ex ante (selecting the right employee) - adverse selection; ex post (monitoring employee once hired) - moral hazard
How you solve agency problems?
bắt đầu học
monitoring costs (principal); bonding costs (agent); residual loss (principal)

Bạn phải đăng nhập để đăng bình luận.