Esther Duflo discusses the fact that in social policy one cannot check the big questions, i.e. whether development assistance as an aggregate is helpful, because there is no counterfactual. She then suggests to focus on smaller questions such as what prevents or incentiveses people from immunizing their kids or whether mosquito bednets should be distributed for free. These questions can be answered by using randomized control trials as in the medical sciences. Thus, she argues, by bringing the experimental method to social policy analysis better decisions as to where allocate funds can be made.
This multimedia dossier is part of the series „Understanding Finance“ by Finance Watch and presents a description and critical review of financial markets and their functions. It furthermore discusses recent developments, as high frequency trading.
"Could a cooperative market economy, in which firms are owned and controlled by their workers, be a viable and efficient alternative to capitalism?"
This book presents recent thought on market efficiency, using a complex systems approach to move past equilibrium models and quantify the actual efficiency of markets.
Exploring Economics, an open-access e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.