Paper tentang Persaingan Usaha

Paper lama ditulis Faisal H Basri dan saya tahun 2001, tapi masih relevan saya kira. Papernya ada disini.

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February 8, 2008 at 3:54 pm Leave a comment

ebook on Wall Street

How stock exchange market works? you could find an ebook about Wall Street here. I do not yet read the book so can not give a short brief.

January 24, 2008 at 5:35 pm Leave a comment

Theory of the Firm

Berle and Means (1932) initially argued that in modern corporations there exists separation between control and ownership. As a result, a manager run the corporation to maximize his/her private benefits which often deviate from interests of owners to maximize value of the firm, or profits. After 44 years Jensen and Meckling (1976) formulated “Theory of the Firm” as a formal model of Berle and Means’s ideas using standard tools of classical economics. The deviation, which is so-called agency problems, can be solved by allowing the manager having share of the firm. The larger manager ownership is the lower the agency costs due to private benefits of the manager are partly derived from profits. Another way to solve agency problems is higher ownership concentration such that the owner has ability to exercise his/her power to monitor or even to fire the managers. Then, Jensen and Meckling predict that relationship between ownership concentration and profit is positive.

As a note, the high concentration ownership produces another agency problem that is conflict of interests between large shareholders and minority shareholders.

The seminal paper of Jensen and Meckling can be downloaded for free here.

January 21, 2008 at 12:04 am Leave a comment

Choice Games

Disini saya mem-post sebuah permainan bagaimana pilihan ditentukan. Trimakasih buat Chaikal yang sudah meng-upload-nya.

January 7, 2008 at 9:11 am Leave a comment

Faktor Non Ekonomi: Positivism vs Realism

Ada perdebatan yang cukup seru disini tentang dimana ekonom menempatkan “Faktor non Ekonomi” dalam analisisnya. Perdebatan diawali posting Muhamad Chatib Basri (MCB). Perdebatan ini sebetulnya bisa dikerucutkan sebagai perdebatan antara dua filososi ilmu (philosophy of science), antara positivism dan realism. Ilmu ekonomi yang menganut metode berpikir positivism dan ilmu sosial lain seperti: psikologi, antropologi, sosiologi, bahkan ilmu managemen menganut metode berpikir realism. Metode berpikir positivism memperoleh pengetahuan melalui logika penalaran. Metode berpikir ini sebenarnya dianut para ilmuwan fisika atau ilmu eksakta lainnya. Sebagai contoh sederhana: jika diketahui “A” maka “B” dan diketahui “B” maka “C”, maka dengan logika bisa diperoleh pengetahuan baru: jika “A” maka “C”. Metode berpikir positivism digunakan ilmu ekonomi dan berkembang pesat sejak era Marginalism dan dirumuskan dengan komprehensif oleh Samuelson.

Sementara itu, ilmu sosial lain menganut metode berpikir realism, dimana pengetahuan diperoleh melalui pengalaman-pengalaman dan bukti-bukti empiris. Sebagai contoh: kesimpulan atau pengetahuan baru “A” maka “C” seperti penalaran positivism diatas tidak selalu/harus terjadi. Jelasnya, jika A adalah jeruk, B adalah apel dan C adalah pisang, maka penalaran jika saya lebih suka jeruk daripada apel dan jika saya lebih suka apel daripada pisang, bagi seorang realism tidak selalu/harus menghasilkan kesimpulan saya akan lebih suka jeruk daripada pisang. Bagi seorang realism kesimpulannya tergantung fakta dilapangan, dan sangat mungkin bervariasi antar individu. Seperti kita ketahui, kesimpulan dengan penalaran positivism yaitu jeruk lebih disukai daripada pisang harus dipenuhi. Ini adalah asumsi dasar consistency dalam menurunkan utility function di teori ekonomi mikro. (more…)

January 4, 2008 at 9:59 am 4 comments

e-book Library

Amazing! Some people create a website contained many e-books on economics and business, and others for free. They put all files on rapid-share website. So you can download for the second time after several minutes/hours of your first download. Get the link here!

December 17, 2007 at 3:11 pm 2 comments

References on Competition Policy and Law Enforcement

Last year I attended the Encore Summer School lectured by Vivek Ghosal at the University of Amsterdam, the Netherlands. You can download some reading materials of the course here.

December 6, 2007 at 5:23 pm Leave a comment

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