Easter
School, April 2002
The
general theme of my lectures will be "Deviations from Neoclassical
Economics". The aim is to point out
areas in which neoclassical economics falls short of providing a compelling
framework to understand important human behavior. I will rely heavily on various recent papers
of my own as a framework of my lectures.
The lectures are meant to provide a guide to the frontier in several
interesting areas of economic research, and in addition, to provide the basis
for a discussion of different methodologies in economic research. The lectures will, to a large extent, be organized
around recent papers of mine. The first
part of the lectures will be devoted to problems of integrating the social
environment into economic analysis. I
will begin with a general introduction that will be related to two relatively
nonmathematical papers of mine, "Social Basis of
Interdependent Preferences" and "Social Arrangements and
Economic Behavior".
Following that the lectures will be based on the following papers:
1.
"Social Norms, Savings
Behavior, and Growth", Harold L. Cole, George J. Mailath,
Andrew Postlewaite, Journal of
Political Economy, Vol. 100, No. 6, Centennial Issue. (Dec., 1992), pp.
1092-1125. (See also "Response to
"Aristocratic Equilibria" (in Comments), Harold L. Cole,
George J. Mailath, Andrew Postlewaite, Journal
of Political Economy, Vol. 103, No. 2. (Apr., 1995), pp. 439-443. I've prepared notes
for the lecture on this paper.
2.
"Investment and Concern
for Relative Position", ), Harold L. Cole, George J. Mailath,
Andrew Postlewaite, Review of Economic
Design, 6, 2001, pp. 241-261.
3.
"Incorporating Concern
for Relative Wealth into Economic Models", Harold L.
Cole, George Mailath and Andrew Postlewaite, Quarterly Review, Federal Reserve Bank of Minneapolis, Vol. 19,
No. 3 (Summer 1995), 12-21.
4.
"Social Culture and
Economic Performance", Hanming Fang, American Economic Review, September 2001, P924-937.
5.
"Social Assets",
mimeo,
6.
“Relative Income
Concerns and the Rise in Married Women's Employment", David
Neumark and Andrew Postlewaite, Journal
of Public Economics, 70, 1998, pp. 157-183.
7.
"The Effect of Adolescent
Experience on Labor Market Outcomes: The Case of Height",
Nicola Persico, Andrew Postlewaite and Dan Silverman, mimeo, University of
8.
"Courts of Law and
Unforeseen Contingencies", Luca Anderlini, Leonardo Felli and
Andrew Postlewaite, mimeo,
9.
"Confidence Enhanced
Performance", Olivier Compte and Andrew Postlewaite, mimeo,
10. "Efficient Auction
Mechanisms with Interdependent Types and Multidimensional Signals",
Richard McLean and Andrew Postlewaite, mimeo, University of
11. “Laws and Authority”, George
Mailath, Stephen Morris and Andrew Postlewaite, mimeo,
END OF
CALTECH, WINTER 2002
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