35 citations · 45 across the 6 of their papers we have counts for
6 papers
The Sign of Risk for Present Value of Future Losses
Brian P. Hanley, Steve Keen
In the ongoing debate over discount rates and climate change, William Nordhaus has championed a higher discount rate to account for risk. Nicholas Stern has championed a lower rate…
Comment on "On the proper behavior of atoms" by Paul Anglin
Russell K. Standish, Stephen L. Keen
Paul Anglin criticised our analysis of the neoclassical theory of the firm, but makes a number of incorrect assertions about our assumptions. We correct these misunderstandings, bu…
Rationality in the Theory of the Firm
Russell K. Standish, Stephen L. Keen
We have previously presented a critique of the standard Marshallian theory of the firm, and developed an alternative formulation that better agreed with the results of simulation.…
Romania in a post-credit crunch world? A cautionary tale from Australia and America
Carmen Costea, Steve Keen
We present data on debt accumulation in Australia and the United States, and tentative data on Romania, to pose the question of whether Romania might experience a credit crunch as…
Profit Maximization, Industry Structure, and Competition: A critique of neoclassical theory
Steve Keen, Russell K. Standish
Neoclassical economics has two theories of competition between profit-maximizing firms (Marshallian and Cournot-Nash) that start from different premises about the degree of strateg…
Emergent Effective Collusion in an Economy of Perfectly Rational Competitors
Russell K. Standish, Steve Keen
We consider a simple model of rational agents competing in a single product market described by simple linear demand curve. Contrary to accepted economic theory, the agents' produc…