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Contingent expectations
No full textThe Routledge Handbook of Economic Expectations in Historical Perspective offers a one-stop reference that distills and summarizes the recent scholarship on economic expectations. Investigating the dynamics, effects, and determinants of economic expectations from a global perspective since the seventeenth century, the book enhances the understanding of expectation formation across time and space.
Expectations drive economic decision-making―and thus offer a fundamental key to understanding economic behavior. Given the centrality of economics to society, the historical study of economic expectations is a highly relevant endeavor, for which this volume provides an accessible starting point. Featuring 33 chapters written by leading scholars from fields ranging from anthropology to political science, this handbook provides a uniquely interdisciplinary perspective. Together, the collection of essays argues that the development of economic theory and empirical research on expectation formation has not taken place in a vacuum. Rather, it must be understood as one strand in a complex entanglement of knowledge production, experiences, and economic and political decision-making, which interacted with, challenged, and transformed each other.
With its broad scope, this handbook will be of interest to students and scholars across multiple disciplines including economic history, economics, sociology, anthropology, psychology, and political science
Low education, low impact? The effects of voting advice applications on an underexposed segment of users
Full text linkLaw and morality in Kant
Full text linkHow do law and morality relate to each other in Kant's philosophy? Is law to be understood merely as an application of general moral principles to legal institutions, or does law have its own normativity that cannot be traced back to that of morality? This volume of new essays is a comprehensive treatment of law and morality in Kant, which also sheds new light on Kant's practical philosophy more broadly. The essays present different approaches to this core issue and address related topics including the justification of legal coercion, the role of freedom and autonomy for law and politics, legal punishment and the question of its ethical presuppositions, moral luck, and the role of permissive laws in Kant's legal and political philosophy. The volume will be of interest to researchers and graduate students working on Kant's moral and legal philosophy. This title is also available as Open Access on Cambridge Core
Evaluating knowledge generation and self-refinement strategies for LLM-based column type annotation
No full textUnderstanding the semantics of columns in relational tables is an important pre-processing step for indexing data lakes in order to provide rich data search. An approach to establishing such understanding is column type annotation (CTA) where the goal is to annotate table columns with terms from a given vocabulary. This paper experimentally compares knowledge generation and self-refinement strategies for LLM-based CTA. The strategies include using LLMs to generate term definitions, error-based refinement of term definitions, and fine-tuning using examples and term definitions. We evaluate these strategies along two dimensions: effectiveness measured as F1 performance and efficiency measured in terms of token usage and cost. Our experiments show that using training data to generate label definitions outperforms using the same data as demonstrations for in-context learning for two out of three datasets using OpenAI models. The experiments further show that using the LLMs to refine label definitions brings an average increase of 3.9% F1 in most setups compared to the performance of the non-refined definitions. Combining fine-tuned models with self-refined term definitions results in the overall highest performance for gpt-4o, outperforming zero-shot prompting fine-tuned models by at least 3% in F1. The cost analysis shows that self-refinement via prompting is more cost-efficient than fine-tuning for use cases requiring smaller amounts of tables to be annotated
Effects of instructional design, instructional preferences, and cognitive load on problem solving and knowledge acquisition in a computer-based office simulation
No full textFair market value of used capacity assets: Forecasts for repurposed electric vehicle batteries
No full textIn response to growing economic and environmental concerns, companies in a range of industries seek to repurpose products (assets) that retain functional capacity beyond their initial first life. This paper examines a generic valuation model for used capacity assets that can either be recycled immediately or repurposed for a second life application. We apply our model framework to lithium-ion batteries retired from electric vehicles, as these assets typically retain substantial energy storage capacity at the end of their first life. Our analysis focuses on two battery chemistries: lithium-iron-phosphate (LFP) and nickel-cobalt-based (NCX). We project their future fair market values in the United States and China. Our findings indicate that repurposing LFP batteries will be economically viable in both countries for the coming decade. In contrast, for most NCX batteries immediate recycling will soon be preferable due to their more valuable raw material content and shorter usable lives
Demographic decision-making under uncertainty
No full textThe Routledge Handbook of Economic Expectations in Historical Perspective offers a one-stop reference that distills and summarizes the recent scholarship on economic expectations. Investigating the dynamics, effects, and determinants of economic expectations from a global perspective since the seventeenth century, this book enhances the understanding of expectation formation across time and space.
Expectations drive economic decision-making and thus offer a fundamental key to understanding economic behavior. Given the centrality of economics to society, the historical study of economic expectations is a highly relevant endeavor, for which this volume provides an accessible starting point. Featuring 33 chapters written by leading scholars from fields ranging from anthropology to political science, this handbook provides a uniquely interdisciplinary perspective. Together, the collection of essays argues that the development of economic theory and empirical research on expectation formation has not taken place in a vacuum. Rather, it must be understood as one strand in a complex entanglement of knowledge production, experiences, and economic and political decision-making, which interacted with, challenged, and transformed each other.
With its broad scope, this handbook will be of interest to students and scholars across multiple disciplines, including economic history, economics, sociology, anthropology, psychology, and political science
