Many situations in economics are complicated and competitive. New research raises the question of whether many theories in economics may suffer from the very fundamental problem that the key ...

We, the Florida Legislature passed a bill addressing the property insurance market because the market needs correction. Florida consumers are experiencing non-renewals and insurance premium hikes ...

This review provides a common framework for researchers thinking about the next generation of micro-founded macro models of growth, inequality, and financial deepening, as well as direction for policy ...

This paper views uncertainty and economic fluctuations as being primarily endogenous and internally propagated phenomena. The most important Endogenous Uncertainty examined in this paper is price ...

Nelson and Winter realize that all models, including traditional ones, are abstractions, but... These abstractions give rise to predictions of behavior that do not arise, Traditional theory does not ...