The Labor Market and Employment (Handbook article). The labor market differs from typical markets in important ways. We find job competition and collective mechanisms that set wages and working conditions. Changes in employment bring about changes in wages and prices and entail political and...

Internal organization relies heavily on psychological consistency requirements. This perspective has been emphasized in modern compensation theory, but has not been extended to organization theory. The idea is developed by starting from Williamson's discussion of idiosyncratic exchange. The...

This chapter analyses some phenomena in organized religion from the point of view of economics. It is argued that religious activity derives from the individual's quest for sense and justification that molds institutional and other features of religious activity, as brought about by competitive...

Most demand -- especially labor demand -- is derived from the demand for some other product. This note demonstrates that the usual analysis of economic rent, as typically explained for the case of consumers' surplus, carries over to the case of derived demand.

Entry for the Elgar Companion to Alfred Marshall, edited by Tiziano Raffaelli, Marco Dardi, and Giacomo Becatini, Cheltenham: Edward Elgar 2004

Many contributions to the economics of religion postulate an "afterlife consumption motive." People are assumed to maximize total utility--including afterlife utility. This essay argues that the approach is unsatifactory for several reasons. First, many regularities in religious participation...

Diese Abhandlung hat die isolierende Betrachtungsweise (ceters-paribus-Analyse) und konzeptionellen Grundlagen der aggregierten Analyse zum Gegenstand. Die Überlegungen bauen auf den Schriften von Alfred Marshall (1842-1924) und John Maynard Keynes (1883-1946) auf.

This note critically evaluates the New Classical Macroeconomics from a Marshallian perspective. Revisiting the famous Keynes-Tinbergen controversy, it is argued that Keynes' criticism comprises the "Lucas critique," and that it is misleading to label this a critique of Keynesian economics. The...

Offering higher wages may enable firms to attract more applicants and screen them more carefully. If firms compete in this way in the labor market, "selection wages" emerge. This note illustrates this wage-setting mechanism. Selection wages may engender unconventional results, such as a pre-tax...

This note comments briefly on Mehdad Vahabi's article on Alfred Marshall's concept of "Normal Value." It points out, in particular, the relationship between normality and equilibrium in the context of Marshall's moving equilibrium method.