Economic theory and philosophy Books

Book SynopsisThis textbook provides a one-semester introduction to mathematical economics for first year graduate and senior undergraduate students. Intended to fill the gap between typical liberal arts curriculum and the rigorous mathematical modeling of graduate study in economics, this text provides a concise introduction to the mathematics needed for core microeconomics, macroeconomics, and econometrics courses. Chapters 1 through 5 builds students’ skills in formal proof, axiomatic treatment of linear algebra, and elementary vector differentiation. Chapters 6 and 7 present the basic tools needed for microeconomic analysis. Chapter 8 provides a quick introduction to (or review of) probability theory. Chapter 9 introduces dynamic modeling, applicable in advanced macroeconomics courses. The materials assume prerequisites in undergraduate calculus and linear algebra. Each chapter includes in-text exercises and a solutions manual, making this text ideal for self-study.Trade Review“Even though the book is aimed at serving as a single semester course, it is sufficiently rich in its contents. This makes it stand out from other similar titles. … Sufficient references have been included for those desirous of delving deeper into the mathematical fundamentals of economics. The book has been written with a lot of caution, brevity and wisdom; and is worth every penny spent on it.” (Firdous Ahmad Mala, Journal of Economics, Vol. 136, 2022)“This book by Prof. Kam Yu is an interesting addition to the literature on the basic mathematical tools for economic analysis (more specifically, for neoclassical economics). It covers a wide range of topics, ranging from topology to probability theory, going through linear algebra, optimization theory and dynamic programming. Its strength lies in a large number of examples and exercises. In that sense, it is useful for junior and senior college students.” (Fernando Tohmé, zbMATH 1471.91005, 2021)Table of ContentsChapter 1. Logic and Proof.- Chapter 2. Sets and Relations.- Chapter 3. Basic Topology.- Chapter 4. Linear Algebra.- Chapter 5. Vector Calculus.- Chapter 6. Convex Analysis.- Chapter 7. Optimization.- Chapter 8. Probability.- Chapter 9. Dynamic Modeling.

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Book SynopsisThis book examines the implications of The General Theory of Second Best for analyzing the economic efficiency of non-government conduct or government policies in an economically efficient way. It develops and legitimates an economically efficient economic-efficiency-analysis protocol with three unique characteristics: First, the protocol focuses separately on each of a wide variety of categories of economic inefficiency, many of which conventional analyses ignore. Second, it analyzes the impact of conduct or policies on each of these categories of economic inefficiency, primarily by predicting the respective conduct’s/policy’s impact on the distortion that the economy’s various Pareto imperfections generate in the profits yielded by the resource allocations associated with the individual categories of economic inefficiency—i.e., on the difference between their profitability and economic efficiency. And third, it is third-best—i.e., it instructs the analyst to execute a theoretical or empirical research project if and only if the economic-efficiency gains the project is expected to generate by increasing the accuracy of economic-efficiency conclusions exceed the predicted allocative cost of its execution and public financing. The book also uses the protocol to analyze the economic efficiency of specific policies so as to illustrate both how it differs from the protocols that most applied welfare economists continue to use and how its conclusions differ from those produced by standard analysis.Table of ContentsIntroduction to The General Theory of Second Best, Its Central Implications, and the Appropriate Way to Respond to It.- The Economics Profession’s Responses to The General Theory of Second Best: Descriptions and Critiques.- The Concept of “the Impact of a Choice (or Natural Event) on Economic Efficiency”.- “First-Best,” “Second-Best,” and “Third-Best” Definitions, Elaborations, and Other Economists’ Usages.- The Symbols for Various Pareto Imperfections, Private and Allocative Concepts, Categories of Resource-Uses, and Categories of Resource Allocations.- The Vocabulary and Symbols of Distortion Analysis.- Analyses of Various Step-Wise Monopoly Distortions.- The Various Non-Monopoly Step-Wise Private-Benefit, Private-Cost, and Profit Distortions.- Some Negative and Positive Implications of the TBLE Distortion-Analysis Protocol for Economic-Efficiency Prediction/Post-Diction.- The Approach That Would Be TBLE for a Government to Take to Economic-Efficiency Prediction/Post-diction—the Rest of the Story.- Conclusion.

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Book SynopsisStandard histories of European integration emphasize the immediate aftermath of World War II as the moment when the seeds of the European Union were first sown. However, the interwar years witnessed a flurry of concern with the reconstruction of the world order, generating arguments that cut across the different social sciences, then plunged in a period of disciplinary soul-searching and feverish activism. Economics was no exception: several of the most prominent interwar economists, such as F. A. Hayek, Jan Tinbergen, Lionel Robbins, François Perroux, J. M. Keynes and Robert Triffin, contributed directly to larger public discussions on peace, order and stability. This edited volume combines these different strands of historical narrative into a unified framework, showing how political economy was integral to the interwar literature on international relations and, conversely, how economists were eager to incorporate international politics into their own concerns. The book brings together a group of scholars with varied disciplinary backgrounds, whose combined perspectives allow us to explore three analytical layers. The first part studies how different forms of economic knowledge, from economic programming to international finance, were used in the quest for a stable European order. The second part focuses on the existence of conflicting expectations about the role of social scientific knowledge, either as a source of technical solutions or as an input for enlightened public discussion. The third part illustrates how certain ideas and beliefs found concrete expression in specific institutional settings, which amplified their political leverage. The three parts are enclosed by an introductory essay, laying out the broad topics explored in the volume, and a substantial postscript tying all the historical threads together.Trade Review“This book brings interesting perspectives on the interwar period, showing also the link with the process of European integration in the postwar period.” (Ivo Maes and Robert Triffin Chair, History of Political Economy, Vol. 55 (2), April, 2023)Table of Contents Introduction Eucken’s Competition with Keynes: Beyond the Ordoliberal Allergy to the Keynesian Medicine Third-Way Perspectives on Order in Interwar France: Personalism and the Political Economy of François Perroux Corporatism and Planning in Monnet’s Idea of Europe The Construction of an International Order in the Work of Jan Tinbergen At the Origins of European Monetary Cooperation: Triffin, Bretton Woods, and the European Payments Union Technocracy, Corporatism, and the Development of 'Economic Parliaments' in Interwar Europe Pluralism, Tripartism and the Foundation of the International Labour Organization Pluralism and Political Economy in Interwar Britain: G.D.H. Cole on Economic Planning Ordoliberalism and the Rethinking of Liberal Rationality Classical Liberalism, Non-Interventionism and the Origins of European Integration: Luigi Einaudi, Friedrich A. von Hayek, Wilhelm Röpke Staving off the Protectionist Slide: Snowden and the Struggle to Keep Britain Open The Formation of Research Institutes on Business Cycles in Europe in the Interwar Period: The ‘Kiel School’ and (In)voluntary Internationalization Divided by an Uncommon Language? The Oxford Institute of Statistics and British Academia (1935-1944) The Intellectual Origins of European Integration

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Book Synopsis This book investigates the application of promising machine learning techniques to address two problems: (i) how to find profitable pairs while constraining the search space and (ii) how to avoid long decline periods due to prolonged divergent pairs. It also proposes the integration of an unsupervised learning algorithm, OPTICS, to handle problem (i), and demonstrates that the suggested technique can outperform the common pairs search methods, achieving an average portfolio Sharpe ratio of 3.79, in comparison to 3.58 and 2.59 obtained using standard approaches. For problem (ii), the authors introduce a forecasting-based trading model capable of reducing the periods of portfolio decline by 75%. However, this comes at the expense of decreasing overall profitability. The authors also test the proposed strategy using an ARMA model, an LSTM and an LSTM encoder-decoder.Table of ContentsChapter 1. Introduction Chapter 2. Pairs Trading – Background and Related Work Chapter 3. Proposed Pairs Selection Framework Chapter 4. Proposed Trading Model Chapter 5. Implementation Chapter 6. Results Chapter 7. Conclusions and Future Work

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Book SynopsisThis book focuses on the ancient Near East, early imperial China, South-East Asia, and medieval Europe, shedding light on mathematical knowledge and practices documented by sources relating to the administrative and economic activities of officials, merchants and other actors. It compares these to mathematical texts produced in related school contexts or reflecting the pursuit of mathematics for its own sake to reveal the diversity of mathematical practices in each of these geographical areas of the ancient world. Based on case studies from various periods and political, economic and social contexts, it explores how, in each part of the world discussed, it is possible to identify and describe the different cultures of quantification and computation as well as their points of contact. The thirteen chapters draw on a wide variety of texts from ancient Near East, China, South-East Asia and medieval Europe, which are analyzed by researchers from various fields, including mathematics, history, philology, archaeology and economics. The book will appeal to historians of science, economists and institutional historians of the ancient and medieval world, and also to Assyriologists, Indologists, Sinologists and experts on medieval Europe.Trade Review“Mathematics, Administrative and Economic Activities in Ancient Worlds fills a longstanding need to situate mathematics into its context of administration in which it originated and developed in various societies. … These publications attest to the lively and active community of historians of science working on ancient sources and the potential to learn about the origin and early development of sciences … within societies which–judging by recent developments–has become a point of concern in many parts of the world.” (Annette Imhausen, NTM, Vol. 30 (3), September, 2022)“As an economist, I thoroughly enjoyed and was impressed at the many details and analysis of those examples of these activities in the varied places during these early time periods. … The is book is very comprehensive in its discussion. Math formulas explaining different ways of computing interest and many other types of financial economic analysis are given. Each chapter has an ample number of references.” (Paul Gentle, HEI History of Economic Ideas, Vol. 29 (2), 2021)Table of ContentsChapter ​1. Mathematics, Administrative and Economic Activities in the Ancient Worlds: An introduction (Cécile Michel and Karine Chemla)Part 1: Mathematical Writings, Regulations, Laws and NormsChapter 2. A Comparative Study of Prices and Wages in Royal Inscriptions, Administrative Texts and Mathematical Texts in the Old Babylonian Kingdom of Larsa (Cécile Michel, with contributions by Robert Middeke-Conlin and Christine Proust)Chapter 3. Computation in the Arthaśāstra (Mark McClish)4. Official Salaries and State Taxes as Seen in Qin-Han Manuscripts, with a Focus on Mathematical Texts (Peng Hao)Part 2: Quantifying Work, Quantifying Volume and CapacityChapter 5. Insights into the Administration of Ancient Irrigation Systems in Third Millennium BCE Mesopotamia (Stephanie Rost)Chapter 6. Mathematical Computations in the Management of Public Construction Work in Mesopotamia (End of the Third and Beginning of the Second Millennium BCE) (Martin Sauvage)Chapter 7. The use of volume in the measurement of grain in early imperial China (Karine Chemla and Ma Biao)Part III: Quantifying Lands and SurfacesChapter 8. The Measurement of Fields During the Pre-Sargonic Period (Camille Lecompte)Chapter 9. Early-Dynastic Tables from Southern Mesopotamia, or the Multiple Facets of the Quantification of Surfaces (Christine Proust)Part IV: Prices, Rates, Loans and InterestsChapter 10. Computation Practices of the Assyrian Merchants during the Nineteenth Century BCE (Cécile Michel)Chapter 11. Connecting a Disconnect. Can Evidence for a Scribal Education be Found in a Professional Setting During the Old Babylonian Period? (Robert Middeke-Conlin)Chapter 12. Loans and Interest in Sanskrit Legal and Mathematical Texts (Sreeramula Rajeswara Sarma and Takanori Kusuba)Chapter 13. Computational Practices Around Coins and Coinage: John of Murs’ Quadripartitum Nnumerorum and French Money Changers’ Books (Marc Bompaire and Matthieu Husson)

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Book SynopsisHow should we address today’s big problems, and what we can take from icons of economics past? How would John Maynard Keynes have resolved today’s debt problem, or how would Adam Smith have assessed the European carbon emission trading market? This book applies the ideas of ten renowned economists (Marx, Minsky, Keynes, Knight, Bergmann, Veblen, Sen, Myrdal, Smith, Robinson) to real world economic problems, directly or indirectly related to the causes and consequences of the 2008 financial crisis. Each chapter presents an economist, and structures the ‘problem’, the ‘insight’ (the economist’s idea), the ‘economist’ (short bio), and two ‘practices’ offering real-world alternatives. This book presents a lively and original approach that will be of interest to economists and non-economists alike, discussing key elements of an economics for a postcapitalist economy and connecting policy insights to real-world problems of today.Table of Contents

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Book SynopsisThis book is the very first book-length study devoted to the advances in technological development and systems research in cooperative economics. The chapters provide, first of all, a coherent framework for understanding and applying the concepts and approaches of complexity and systems science for the advanced study of cooperative networks and particular cooperative enterprises and communities. Second, the book serves as a unique source of reliable information on the frontier information technologies available for the production, consumer, credit, and agricultural cooperative enterprises, discussing predominant strategies, potential drivers of change, and responses to complex problems. Given the diverse range of backgrounds and advanced research results, researchers, decision-makers, and stakeholders from all fields of cooperative economics in any country of the world will undoubtedly benefit from this book.Table of ContentsThe Role of Credit Cooperatives in Financing the Real Sector of the Economy.- Innovative Marketing Technologies in the Development of a New Product: Methodological Solutions in the Context of Economic Integration and Cooperation.- Cooperative Platform in the Modern Economy.- Education at a Cooperative University in the Digital Economy.- The Development of Cooperation in the Digital Economy Based on Scientific Research by A. V. Chayanov.- Involvement of the World’s Largest Cooperatives in Sustainable Development Processes.- Collaborations in the Modern Economy.

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Book SynopsisThis book argues for the abolition of the employment system in favor of workplace democracy and thus escapes the usual capitalism-versus-socialism binary choice by reframing the basic issue as the employment contract, not private property or a market economy. The author repositions the political and economic debate in the lineage of abolitionism - against the owning of other people - which in its modern version of neo-abolitionism would also abolish the renting, or hiring, employing, or leasing of other people.The overall argument is based on three recovered theories, each one of which is sufficient to yield the neo-abolitionist conclusion. These three rights-based theories are developed throughout the book. The three theories are 1) inalienable rights theory, 2) the natural rights or labor theory of property, and 3) democratic theory as based on a democratic constitution that only delegates governance rights versus a non-democratic constitution that alienates governance rights. The book, therefore, is a must-read for everybody interested in a better understanding of the political economy, workplace democracy, rights-based theories, and the employment system. Table of Contents1: Introduction1.1: Neo-Abolitionism1.2: What is “the system” being argued against?1.3: What is the system being argued for?2: Contract: The case against the human rental contract based on inalienability2.1: Contractual defenses of slavery2.2: History of inalienability theory2.3: Modern Theory of Inalienable Rights2.4: How to (Mis)Understand Inalienability Theory3: Property: The case against the human rental system based on private property rights3.1: The misnomer of “Capitalism” and the fundamental myth3.2: Marginal productivity theory3.3: History of property theory4: Governance: The case against the employment system based on democratic theory4.1: Intellectual history of consent-based non-democratic government4.2: Intellectual history of the case for democratic governance4.3: The debate about corporations5: Summary and Conclusions5.1: Conventional Classical Liberalism5.2: Summary: Inalienable rights theory5.3: Summary: The natural rights or labor theory of property5.4: Summary: Democratic theory and the democratic alternative

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Book SynopsisDieses Buch untersucht, warum österreichische Ökonomen es versäumen, den Rahmen der spontanen Ordnung auf kooperative Beziehungen – wie einen dynamischen und sich entwickelnden öffentlichen Sektor – anzuwenden, die einen florierenden Markt ergänzen könnten. Als direkte Antwort auf Israel Kirzners "The Driving Force of the Market" stellt sie die traditionelle österreichische Wirtschaftswissenschaft infrage, indem sie die demokratische Prozesstheorie als Parallele zur Marktprozesstheorie vorschlägt und die Möglichkeiten einer Wirtschaftsorganisation aufzeigt, die sich die Kraft einer transparenten und effektiven Demokratie zunutze macht. Unter Berücksichtigung der zentralen Probleme, die in sozialistischen und kapitalistischen Ländern aufgrund eigennütziger politischer und wirtschaftlicher Akteure aufgetreten sind, hebt "Die treibende Kraft des Kollektivs"die Vorteile des öffentlichen Sektors hervor, die sich daraus ergeben, dass sich Kultur und Institutionen endogen als spontane Ordnung des öffentlichen Sektors entwickeln könnenTable of Contents1. Kollaborative Entdeckung und der konversive demokratische Prozess: Ein post-österreichischer Ansatz2. Der individualistische Subjektivismus der österreichischen Volkswirtschaftslehre3. Subjektivismus, Freiheit und soziales Interesse4. Die Grenzen der Demokratie: Das Reale und das Imaginäre5. Die Ethik des Wettbewerbs und der Zusammenarbeit6. Einige ethische Einsichten über die Natur des Gewinns7. Koordination und Kollaboration: Einigung als Kriterium für demokratische Güte8. Überlegungen zum misesianischen Erbe des Hyperindividualismus9. Wissen und das österreichische Verständnis des demokratischen Systems10. Kultur, Hayek und die Idee der Plan-Koordination11. Konversation und der demokratische Prozess: Einige lehrhafte Prüfsteine12. Die treibende Kraft des Kollektivs: Die Idee der Konversation in der zeitgenössischen Wirtschaftstheorie und in der post-österreichischen Theorie des demokratischen Prozesses13. Fehlallokation und/oder Missverständnis: Eine Neubetrachtung des Mises'schen Berechnungsproblems14. Die Gesellschaft, das Kollektiv und der wirtschaftliche Imperialismus

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Book SynopsisUnderstanding a Complex World.- What is Complexity?.- Measurement of Complexity.- Complexity Economics.- The Economy as a Complex Adaptive System.- Nonlinearity.- Feedback, Circular Causality, and System Dynamics.- Self-Organization.- Emergence, Levels, and Hierarchy.- Economic Evolution, Novelty, and Diversity.- History and Path Dependence.- Adaptation, Learning, and Behavior.- Conclusion: What Does it All Mean?.

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Book SynopsisChapter 1. Italian women of the past: their economic culture and actions (Manuela Mosca).- Part I. Women in business.- Chapter 2. Isabella De Mari Doria, a female investor and gambler in the Genoese aristocracy (Antonio Iodice).- Chapter 3. Women and business: fresh evidence from the probate records of Milan (1862-1900) (Stefania Licini).- Chapter 4. Female entrepreneurs and economic development in Capri (1900-1960). A case study: La Parisienne (Rossella Del Prete).- Part II. Women in the labour market.- Chapter 5. From the edge to the heart: female employment in 19th century Italy (Giuliana Freschi).- Chapter 6. Labour market segregation: female teachers in Southern Italy (1861-1937) (Vittoria Ferrandino).- Chapter 7. Incomes and employment of Italian women (1900-1950) (Giacomo Gabbuti).- Part III. Women in education.- Chapter 8. Aurelia Josz, educational entrepreneur, and her school of agriculture for girls (Giandomenica Becchio).- Chapter 9. Female students and graduates in business and economics in Turin (1906-1940) (Laura Giartosio).- Chapter 10. Academic research and university careers of women economists during the fascist regime (Letizia Pagliai).- Part IV. Women in politics. Chapter 11. Anna Kuliscioff's labour economics (Luca Michelini).- Chapter 12. Margherita Grassini Sarfatti, the economic thought of the Jewish woman who popularized fascism (Francesco Poggi).- Chapter 13. In the name of equality. Women's action to shape the right to work in the Italian Constituent Assembly (Claudia Rotondi).

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Book SynopsisPart I. Monetary Macroeconomics.- Chapter 1. Macro's Missing Links. Exploring the Space between Monetarism and the Wicksell Connection (David Laidler).- Chapter 2. The problems of inflation targeting originate in the monetary theory of Knut Wicksell (Lars Jonung).- Chapter 3. Price Stability, Macroeconomic Imbalances, and the Role of Monetary Policy (Roberto Tamborini).- Chapter 4. Rise of Capitalism and Early Interest Rate Theory (Peter Spahn).- Chapter 5. The ECB as a Dealer of Last Resort for a Modern Monetary Perspective (Dirk Ehnts).- Part II. Swedish Economic Thought.- Chapter 6. Coordination Failures and the political economy of economic policy (Abdallah Zouache).- Chapter 7. Explaining the post-pandemic inflation dynamics - Back to Wicksell (Nicolas Barbaroux).- Chapter 8. In the Shadow of Wicksell: Emil Sommarin", (or the Master and his Disciple: Knut Wicksell and Emil Sommarin) (Bo Sandelin).- Chapter 9. Margit Cassel's The Communal Economy. Its position and necessity in the exchange economy: A critical appraisal (Siv Gustafsson).- Chapter 10. On the Perception and Reception of the Stockholm School in German-Speaking economics (Heinz Rieter).- Part III. International Economics and Globalization.- Chapter 11. Viner and Ohlin (Stephen Meardon).- Chapter 12. Making war to war or how to train elites about European economic ideas: Keynes' articles published in L'Europe Nouvelle during the interwar period (Annie L. Cot).- Chapter 13. Keynes's Loan Negotiations in 1945 - Faced with a Financial Dunkirk (Toshiaki Hirai).- Chapter 14. Securing Full-Employment in a Globalized World Economy: Exploring Kalecki's and Keynes's views (Eckhard Hein).- Chapter 15. Behind Qin's Notes: A consensus Politics Perspective (Qunyi Li).- Chapter 16. Plus Ultra! (Heinz D. Kurz).- Part IV. History of Economic Thought.- Chapter 17. Trautwein's Challenge to the History of Economics (John Davis).- Chapter 18. Hugo Grotius, Google Translate, and Some Others : Issues Regarding Money Loans (André Lapidus).- Chapter 19. Adam Smith versus Francois Quesnay on Chinese Economy and Society (Robert W. Dimand).- Chapter 20. Halfway House, no Wicksell equilibrium: Schumpeter and Mixed Economics (Richard Sturn).- Chapter 21. Nature, Well-Being, and Moral Sentiments. Modern Economics and Some History of Economic Thought (Heinz Welsch).- Part V. Hans-Michael Trautwein : Bibliography 1986-2024.

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Book SynopsisChapter 1. Introduction The Relational View on Economics 2023 Challenges to a New Paradigm (Jacob Dahl Rendtorff).- Part I. Relational Nature of the Firm.- Chaper 2. Dynamic Network Models in Relational Theory of the Firm (Josef Wieland).- Chaper 3. A Relational View on Organization Ontology Insights from Methodological Relationism, Process Philosophy,and Critical Realism (Jessica Geraldo Schwengber).- Chapter 4. The Nature of the Firm as Corporate Actor. Relational Economics and the Challenges of Legal Personhood (Marc Hübscher).- Part II. Relational Management and Leadership.- Chapter 5. Stakeholder Management and Relational Economics (Jacob Dahl Rendtorff).- Chapter 6. Cooperative Economics and Management and Abolitionist Relationality (Jerome Warren).- Chapter 7. Understanding Barriers to Relational Contracting: Exploring Challenges and Solutions (Tim Cummins).- Chapter 8. Leadership as a Temporal Abstraction: A Conceptual Reflection (Willem Fourie).- Part III. Relational Philosophy.- Chapter 9. Relational Process Atomism. Epistemological and Methodological Considerations on the Metaphysics of Transactions (Michael Schramm).- Chapter 10. A Dynamic Relational Ontology and Its Implications for Epistemology (Gil Santos).- Chapter 11. Relational and Transactional Rationality in Chinese Thought and Social Practice (Matthias Niedenführ).

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Book SynopsisChapter 1. Multi-horizon MPC and Its Application to theIntegrated Power and Thermal Management ofElectri?ed Vehicles (Qiuhao Hu).- Chapter 2. Data/Moment-Driven Approaches for FastPredictive Control of Collective Dynamics (Giacomo Albi).- Chapter 3. Finite-Dimensional Receding Horizon Control ofLinear Time-Varying Parabolic PDEs: StabilityAnalysis and Model-Order Reduction (Behzad Azmi).- Chapter 4. Solving Hybrid Model Predictive ControlProblems via a Mixed-Integer Approach (Iman Nodozi).- Chapter 5. nMPyC A Python Package for Solving OptimalControl Problems via Model Predictive Control (Jonas Schießl).- Chapter 6. Controllability of Continuous Networks and aKernel-Based Learning Approximation (Michael Herty).- Chapter 7. Economic Model Predictive Control as aSolution to Markov Decision Processes (Dirk Reinhardt).- Chapter 8. Reinforcement Learning with Guarantees (Mario Zanon).

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Book SynopsisChapter 1. Introduction.- Chapter 2. The Art of Conjecture: Probability and Utility.- Chapter 3. Uncertainty According to Knight and Keynes.- Chapter 4. Von Neumann, Morgenstern and Decision-making under Risk.- Chapter 5. Ramsey, de Finetti and Savage: Decisions under Uncertainty.- Chapter 6. Uncertainty as Ambiguity: Ellsberg and the Paradoxes of Decision Theory of choice.- Chapter 7. Modern Uncertainty Theories and the Return to Keynes.

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Book SynopsisPart I. Introduction.- Chapter 1. Introduction (Muriel Dal Pont Legrand).- Part II. A conversation with Richard Arena.- Chapter 2. “Economy, history and society: an embedded view". A conversation with Richard Arena (Sandye Gloria).- Part III. The Inspiring 19th.- Chapter 3. Sismondi: prices, markets, wealth and happiness (Pascal Bridel).- Chapter 4. Nineteenth-Century French Liberal Economists’ Reading of Ricardo through the Lenses of their Fear of Socialism (Nathalie Sigot).- Chapter 5. The exploitation of the globe and nature. The blind spot of environmental considerations in Saint Simonian Industrialism (Michel Bellet).- Chapter 6. Paths to a new historiographical territory: international crossings, visiting economists, travelling models (Annie L. Cot).- Chapter 7. Walras’ Economie Pure vs Marshall’s Economics? Some insights on economics as a social science (Katia Caldari).- Part IV: Interwar episodes.- Chapter 8. Hayek‘s Austrian Theory of the Business Cycle (Harald Hagemann).- Chapter 9. Corridor stability in early history of Macroeconomics (Michael Assous).- Chapter 10. When General Theory met French politics: the historical context of a translation (Ghislain Deleplace).- Chapter 11. Antonio de Viti de Marco’s painful’ retirement decision (Manuela Mosca).- Part V. Cambridge Economics and the Sraffa period.- Chapter 12. On some “new” interpretations of Ricardo’s principle of comparative advantages (Sergio Parrinello).- Chapter 13. The new turn in the debate on capital theory (Bertram Schefold).- Chapter 14. Sraffa on multiple-products processes of production: the case of joint production proper and of land of a single quality (Heinz D. Kurz and Neri Salvadori).- Chapter 15. The Rashomon Effect and the Sraffa-Marx Puzzle (Riccardo Bellofiore).- Chapter 16. Richard Arena on Sraffa and Wittgenstein (John Davis).- Chapter 17. On some aspects of Arena’s interpretation of Sraffa (Cristina Marcuzzo).

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Book SynopsisChapter 1. Introduction.- Chapter 2. The Strength of Florentine Capitalism.- Chapter 3. The Botti in Europe: Merchants, Bankers and Patrons.- Chapter 4. Being Merchants.- Chapter 5. Intercultural Trade: Spread and Cross-Fertilise.- Chapter 6. Intercultural Trade: Spread and Cross-Fertilise.- Chapter 7. To Conclude: Trade is Not Just a Mechanical Art.- Index.

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Book SynopsisChapter 1. Introduction: The Development of Trade in the Mediterranean Basin and the Middle East (1st-13th Century).- Chapter 2. Lyon Trade: From Fairs to Money Markets (13th -14th Century).- Chapter 3. Bruges: The Cradle of Market Capitalism (13th-15th Century).- Chapter 4. Antwerp: The First Global Trade Capital (16th Century).- Chapter 5. Amsterdam: The World's First Stock Exchange (17th Century).- Chapter 6. London: The First Truly Global Stock Exchange (18th -19th Century).- Chapter 7. Paris Bourse: The Financial Center of Continental Europe (18th-19th Century).- Chapter 8. The Istanbul Bourse: The First Stock Exchange of the East (19th Century).- Chapter 9. The New York Stock Exchange: The Birth of Wall Street and the Stock Barons (18th -19th Century).- Chapter 10. The Roaring Years, the Great Depression, and the New Deal (Early 20th Century).- Chapter 11. The Post-Bretton Woods Era and Financial Scandals (20th - 21st Century).- Chapter 12. Conclusion: Inclusive Institutions and the Future of Stock Markets.

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Book SynopsisThis short monograph which presents a unified treatment of the theory of estimating an economic relationship from a time series of cross-sections, is based on my Ph. D. dissertation submitted to the University of Wisconsin, Madison. To the material developed for that purpose, I have added the substance of two subsequent papers: "Efficient methods of estimating a regression equation with equi-correlated disturbances", and "The exact finite sample properties of estimators of coefficients in error components regression models" (with Arora) which form the basis for Chapters 11 and III respectively. One way of increasing the amount of statistical information is to assemble the cross-sections of successive years. To analyze such a body of data the traditional linear regression model is not appropriate and we have to introduce some additional complications and assumptions due to the hetero­ geneity of behavior among individuals. These complications have been discussed in this monograph. Limitations of economic data, particularly their non-experimental nature, do not permit us to know a priori the correct specification of a model. I have considered several different sets of assumptionR about the stability of coeffi­ cients and error variances across individuals and developed appropriate inference procedures. I have considered only those sets of assumptions which lead to opera­ tional procedures. Following the suggestions of Kuh, Klein and Zellner, I have adopted the linear regression models with some or all of their coefficients varying randomly across individuals.Table of ContentsI -- Introduction.- 1.1 Purpose and Outline of the Study.- 1.2 Review of the Literature on Regression Models with Random and Fixed Coefficients.- 1.3 Conclusions.- II -- Efficient Methods of Estimating a Regression Equation with Equicorrelated Disturbances.- 2.1 Introduction.- 2.2 Some Useful Lemmas.- 2.3 A Regression Model with Equicorrelated Disturbances.- 2.4 Analysis of Time Series of Cross-Sections.- 2.5 Estimation When the Variance-Covariance Matrix of Disturbances is Singular.- 2.6 Estimation When the Remaining Effects are Heteroskedastic.- 2.7 Conclusions.- III -- Efficient Methods of Estimating the Error Components Regression Models.- 3.1 Introduction.- 3.2 Some Matrix Results.- 3.3 Covariance Estimators.- 3.4 Estimation of Error Components Models.- 3.5 A Class of Asymptotically Efficient Estimators.- 3.6 Small Sample Properties of the Pooled Estimator.- 3.7 A Comparison of the Efficiencies of Pooled and OLS Estimators.- 3.8 A Comparison of the Efficiency of Pooled Estimator with Those of its Components.- 3.9 Alternative Estimators of Slope Coefficients and the Regression on Lagged Values of the Dependent Variables.- 3.10 Analysis of an Error Components Model Under Alternative Assumptions.- 3.11 Maximum Likelihood Method of Estimating Error Components Model.- 3.12 Departures from the Basic Assumptions Underlying the Error Components Model.- 3.13 Conclusions.- IV -- Statistical Inference in Random Coefficient Regression Models Using Panel Data.- 4.1 Introduction.- 4.2 Setting the Problem.- 4.3 Efficient Methods of Estimating the Parameters of RCR Models.- 4.4 Estimation of Parameters in RCR Models when Disturbances are Serially Correlated.- 4.5 Problems Associated with the Estimation of RCR Models Using Aggregate Data.- 4.6 Forecasting with RCR Models.- 4.7 Relaxation of Assumptions Underlying RCR Models.- 4.8 Similarities Between RCR and Bayesian Assumptions.- 4.9 Empirical CES Production Function Free of Management Bias.- 4.10 Analysis of Mixed Models.- 4.11 Conclusions.- V -- A Random Coefficient Investment Model.- 5.1 Introduction.- 5.2 Grunfeld’s Hypothesis of Micro Investment Behavior.- 5.3 Estimation and Testing of Random Coefficient Investment Model.- 5.4 Aggregate Investment Function.- 5.5 Comparison of Random Coefficient Model with Fixed Coefficient Macro Model.- 5.6 Comparison of Random Coefficient Model with Fixed Coefficient Micro Model.- 5.7 Conclusions.- VI -- Aggregate Consumption Function with Coefficients Random Across Countries.- 6.1 Introduction.- 6.2 Aggregate Consumption Model.- 6.3 Source and Nature of Data.- 6.4 Fixed Coefficient Approach.- 6.5 Random Coefficient Approach.- 6.6 Conclusions.- VII -- Miscellaneous Topics.- 7.1 Introduction.- 7.2 Identification.- 7.3 Incorporation of Prior Information in the Estimation of RCR Models.- 7.4 Conclusions.

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Book SynopsisThe problem to be considered here is the one faced by bargainers who must reach a consensus--i.e., a unanimous decision. Specifically, we will be consid­ ering n-person games in which there is a set of feasible alternatives, any one of which can be the outcome of bargaining if it is agreed to by all the bargainers. In the event that no unanimous agreement is reached, some pre-specified disagree­ ment outcome will be the result. Thus, in games of this type, each player has a veto over any alternative other than the disagreement outcome. There are several reasons for studying games of this type. First, many negotiating situations, particularly those involving only two bargainers (i.e., when n = 2), are conducted under essentially these rules. Also, bargaining games of this type often occur as components of more complex processes. In addi­ tion, the simplicity of bargaining games makes them an excellent vehicle for studying the effect of any assumptions which are made in their analysis. The effect of many of the assumptions which are made in the analysis of more complex cooperative games can more easily be discerned in studying bargaining games. The various models of bargaining considered here will be studied axioma- cally. That is, each model will be studied by specifying a set of properties which serve to characterize it uniquely.Table of ContentsI: Nash’s Model of Bargaining.- Section A. Introduction.- Section B. The Formal Model and Axiomatic Derivation.- Nash’s Theorem.- Individual Rationality.- Symmetry and Asymmetry.- Section C. Probabilistic Models.- Bargaining as a Non-Cooperative Game.- Bargaining as a Single Player Decision Problem.- A Model of Negotiation.- Section D. Risk Posture.- Comparative Risk Aversion.- Boldness and Fear of Ruin.- Strategic Risk Posture and the Utility of Bargaining.- II: Other Models of Bargaining.- Section A. A Critical Evaluation of the Independence Properties.- Independence of Equivalent Utility Representations.- Independence of Irrelevant Alternatives.- Section B. Ordinal Models of Bargaining.- Section C. Interpersonal Models of Bargaining.- Proportional Solutions.- Ordinal Interpersonal Comparisons.- Section D. “Irrelevant” Alternatives.- An Individually Monotonic Solution.- Dependence on the Ideal Point.- Appendix: Summary of the Principal Properties and Results.

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Book SynopsisWhat you’ll find in this monograph is nothing less than a complete and rigorous study of modern functional analysis. It is intended for the student or researcher who could benefit from functional analytic methods, but who does not have an extensive background in the subject and does not plan to make a career as a functional analyst. It develops the topological structures in connection with a number of topic areas such as measure theory, convexity, and Banach lattices, as well as covering the analytic approach to Markov processes. Many of the results were previously available only in works scattered throughout the literature.Table of ContentsOdds and ends.- Topology.- Metrizable spaces.- Measurability.- Topological vector spaces.- Normed spaces.- Convexity.- Riesz spaces.- Banach lattices.- Charges and measures.- Integrals.- Measures and topology.- Lp-spaces.- Riesz Representation Theorems.- Probability measures.- Spaces of sequences.- Correspondences.- Measurable correspondences.- Markov transitions.- Ergodicity.

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Book SynopsisWhat you’ll find in this monograph is nothing less than a complete and rigorous study of modern functional analysis. It is intended for the student or researcher who could benefit from functional analytic methods, but who does not have an extensive background in the subject and does not plan to make a career as a functional analyst. It develops the topological structures in connection with a number of topic areas such as measure theory, convexity, and Banach lattices, as well as covering the analytic approach to Markov processes. Many of the results were previously available only in works scattered throughout the literature.Table of ContentsOdds and ends.- Topology.- Metrizable spaces.- Measurability.- Topological vector spaces.- Normed spaces.- Convexity.- Riesz spaces.- Banach lattices.- Charges and measures.- Integrals.- Measures and topology.- Lp-spaces.- Riesz Representation Theorems.- Probability measures.- Spaces of sequences.- Correspondences.- Measurable correspondences.- Markov transitions.- Ergodicity.

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Book SynopsisThis is a revised version of a doctoral thesis, submitted in mimeographed fonn to the Faculty of Arts, Uppsala University, 1988. It deals with the notions of struc­ tural dependence and independence, which are used in many applications of mathe­ matics to science. For instance, a physical law states that one physical aspect is structurally dependent on one or more other aspects. Structural dependence is closely related to the mathematical idea of functional dependence. However, struc­ tural dependence is primarily thought of as a relation holding between aspects rather than between their measures. In this book, the traditional way of treating aspects within measurement theory is modified. An aspect is not viewed as a set-theoretical structure but as a function which has sets as arguments and set-theoretical structures as values. This way of regarding aspects is illustrated with an application to social choice and group deci­ sion theory. Structural dependence is connected with the idea of concomitant variations and the mathematical notion of invariance. This implies that the study of this notion has roots going back to Mill's inductive logic, to Klein's Erlangen Program for geome­ try and to Padoa's method for proving the independence of symbols in formal logic.Table of Contents1. Problem Area and Basic Formal Apparatus.- 1. The Concept of Dependence in Applied Mathematics; a First Account.- 1.0 Introduction.- 1.1 Determination and relevance.- 1.2 Partial determination.- 1.3 Structural dependence.- 1.4 Dependence and concomitant variations.- 1.5 Supervenience and dependence.- 1.6 Invariance and dependence.- 1.7 Independence of primitive symbols.- 1.8 Relations as functions.- 1.9 Notions of independence in modern measurement and decision theory.- 1.10 Applications of structural dependence.- 1.11 Summing up.- 2. Basic Formal Concepts and Terminology.- 2.0 Introduction.- 2.1 Relations and functions.- 2.2 Properties of binary relations.- 2.3 Order relations.- 2.4 Two lemmas on weak orders.- 2.5 Semiorders.- 2.6 Correspondences.- 2.7 Invariance.- 2.8 Relational structures.- 2.9 Isomorphisms and homomorphisms.- 2.10 Congruence relations.- 2.11 Lattices.- 2. An Informal Presentation of the Main Themes.- 3. Relationals.- 3.0 Introduction.- 3.1 The fundamentals of relational.- 3.2 Formal properties of relationals.- 3.3 Some examples.- 3.4 Finitary systems of relationals.- 3.5 Historical and bibliographical remarks.- 4. Subordination, Uncorrelation and Derivation.- 4.0 Introduction.- 4.1 Isomorphism preservation and transitions.- 4.2 Subordination and definability.- 4.3 Uncorrelation.- 4.4 The dependence between R and its regionalization R*.- 4.5 Equality and decision methods for relationals.- 4.6 Derived and derivable relationals.- 4.7 Stability of transitions.- 4.8 The structural character of transitions and subordination.- 4.9 Significance.- 5. An Example: Social Choice.- 5.0 Introduction.- 5.1 The notion of dependence in social choice theory.- 5.2 Preference relationals and collective choice rules.- 5.3 Isomorphism preservation, subordination and social choice.- 5.4 Relative effectiveness, derivability and social choice.- 5.5 Stability and background for collective choice rules.- 5.6 Structural dependence and aggregation; a preliminary remark.- 6. Conformity and Measures.- 6.0 Introduction.- 6.1 Equality preservation and independent realizability.- 6.2 Congruence relational, conformity and import.- 6.3 Homomorphic representations.- 6.4 Measures.- 6.5 Numerical measures and representations.- 6.6 Connections between relational defined by measures.- 3. Formal Treatment of Basic Topics.- 7. Transitions Between Systems of Relationals.- 7.0 Introduction.- 7.1 Relational systems.- 7.2 Transitions and subordination.- 7.3 Transitions and uncorrelation.- 7.4 Concatenation and transition.- 7.5 Significance.- 7.6 Stability and monotonicity of s-functions.- 8. The Structure of Subordination.- 8.0 Introduction.- 8.1 Subalternation and rank.- 8.2 The lattice of subalternation.- 8.3 Correlation and collaterally.- 8.4 Semiranks.- 8.5 On equality preservation and independent realizability of structures.- 9. Isomorphic Mappings and Invariance.- 9.0 Introduction.- 9.1 Mappings.- 9.2 Isomorphic mappings.- 9.3 Automorphic mapping invariance.- 9.4 Global isomorphic mappings and global subordination.- Final remarks.- References.

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Book SynopsisLarge collections of data and information necessitate adequate methods for their analysis. The book presents such methods, proposes and discusses recent approaches and implementations and describes a series of practical applications.Table of ContentsSection 1: Data Analysis and Classification.- Probability Models for Convex Clusters.- Multidimensional Scaling: Analyzing Multineuronal Spike Patterns.- Fixed Point Clusters and Their Relation to Stochastic Models.- A Metric Approach for Ordinal Regression.- Graphical Stability of Data Analysing Software.- Recent Developments in Three-Way Data Analysis: A Showcase of Methods and Examples.- A Hybrid Global Optimization Algorithm for Multidimensional Scaling.- Ordinal Regression.- Numerical Algorithms for Multidimensional Scaling.- High Dimensional Clustering Using Parallel Coordinates and the Grand Tour.- Section 2: Neural Networks and Pattern Recognition.- A Symbolic Representation for Patterns in Time Series Using Definitive Clause Grammars.- Neural Networks: A Statistician’s (Possible) View.- Dynamic Supervised Learning: Some Basic Issues and Application Aspects.- A Hierarchical Neural Network Model for Pattern Recognition.- Section 3: Statistical Models and Methods.- Markov Random Field Models with Spatially Varying Coefficients.- Distribution of a Likelihood Ratio Statistic for Spatial Disease Clusters.- Biased Methods of Discrimination in High Dimensions: A Comparative Assessment.- A One-Step Optimization Procedure for the ARFIMA Processes.- GARCH Models with Outliers.- Minimum Volume Sets in Statistics: Recent Developments.- Fusion of Data Sets in Multivariate Linear Regression with Errors-in- Variables.- Discriminant Analysis for Directional Data Exemplified in a Concrete Case.- Combination of Tests and Sequential Classification.- Classes of Influential Observations.- Bayesian Non-Linear Latent Variable Models.- Section 4: Information Systems: Design and Implementation.- Case Based Software Engineering CBSE — The Example of a Store Control System.- Optimization in Probabilistic Logic for Decision Support Systems.- Learning Strategies for Managing New and Innovative Products.- Interoperable Database Systems.- Consistent Completion of Incomplete Data Objects.- Towards a Case-Based Assistant for the Conceptual Modelling of Information Systems.- Foundational Aspects of Knowledge-Based Information Systems in Scientific Domains.- Section 5: Text Analysis and Information Retrieval.- A Planning-Based Approach to Intelligent Information Retrieval in Text Databases.- 3D-Navigation in Virtual Information Spaces: From Text-Based Retrieval to Cognitive User Interaction.- A Note on Intelligent Information Retrieval Tools in the World Wide Web.- Computer-Aided Methods for Typification in Qualitative Social Research.- Classification of Text Analysis Software.- Computer Aided Text Analysis and Typology Construction.- Rotwang’s Children: Information Ecology and the Internet.- Network Approaches in Text Analysis.- Qualitative Software and Analysis Structures: Solving Problems or Creating Them?.- Computer Tools for Grounded Theory: Introducing ATLAS/ti for Windows 95.- Section 6: Applications in Medicine.- Some Issues in the Comparison of Diagnostic Tests from a Paired Experiment.- Formal Modeling of Medical Concept Systems Considering Part-Whole Relations.- Classification of Oligodendrogliomas Using Neural Networks.- Statistical Methods to Estimate the Impact of Risk Factors on the Disease Load in a Population.- Neural Networks for Classification of Image Data in Quantitative Pathology.- Variations on the Shapley Solution for Partitioning Risks in Epidemiology.- Generalized Regression Trees Applied to Longitudinal Nutritional Survey Data.- Conceptual Complexity in Biomedical Terminologies: The UMLS Approach.- Sun Protection of Children: Changing Patterns of Preventive Knowledge and Behaviour.- A Natural Language Understanding System for Knowledge-Based Analysis of Medical Texts.- On the Development and Validation of Classification Schemes in Survival Data.- Use of Crossvalidation to Assess Diagnostic Classification Schemes of Atopic Dermatitis.- Differences of Representing a Conventional Classification by the Compositional Concept Representation Languages BERNWARD and GRAIL.- The Freiburg Center of Data Analysis and Model Building (FDM): An Interim Report about an Interdisciplinary Coorperation.- Realization of a Medical Data Dictionary in a Relational Database Management System.- Section 7: Applications in Economics and Social Sciences.- Two-Mode Overlapping Clustering With Applications to Simultaneous Benefit Segmentation and Market Structuring.- An Application of Two-Mode Classification to Analyze the Statistical Software Market.- Correspondence Analysis of Square Tables, with an Application to Social Mobility.- Identifying Benchmarking-Partners Using Two-Mode Classification.- Supporting the Search for Final Scenarios by the Fuzzy-C-Means Algorithm.- Two-Mode Classification in Advertising Research.- Neural Networks as Instruments for Automotive Market Segmentation.- Section 8: Applications in Archaeology, Biology, Linguistics and Dialectometry.- Seriation in Archaeology: Modelling, Methods and Prior Information.- Probabilistic Aspects of Sequence Repeats and Sequencing by Hybridization.- On the Equivalence of Two Tree Mapping Measures.- Deriving Grammars from Large Corpora.- Investigation of the Language in Germany and Austria Using Statistical Methods.- Current Trends in Dialectometry: The Handling of Synonym Feature Realizations.- Interactive Graphical Analysis of Regional Dialects.- Subject Index (including List of Authors).

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Book SynopsisThe fourth edition is augmented by more than 70 new formulas. In particular, we have included some key concepts and results from trade theory, games of incomplete information and combinatorics. In addition there are scattered additions of new formulas in many chapters. Again we are indebted to a number of people who has suggested corrections, - provements and new formulas. In particular, we would like to thank Jens-Henrik Madsen, Larry Karp, Harald Goldstein, and Geir Asheim. In a reference book, errors are particularly destructive. We hope that readers who ?nd our remaining errors will call them to our attention so that we may purge them from future editions. Oslo and Berkeley, May 2005 Knut Sydsaeter, Arne Strom, Peter Berck From the preface to the third edition Thepracticeofeconomicsrequiresawide-rangingknowledgeofformulasfrommat- matics, statistics, andmathematicaleconomics. Withthisvolumewehopetopresent a formulary tailored to the needs of students and working professionals in economics. In addition to a selection of mathematical and statistical formulas often used by economists, this volume contains many purely economic results and theorems. It containsjusttheformulasandtheminimumcommentaryneededtorelearnthema- ematics involved. We have endeavored to state theorems at the level of generality economists might ?nd useful. In contrast to the economic maxim, "everything is twice more continuously di?erentiable than it needs to be", we have usually listed theregularityconditionsfortheoremstobetrue.Wehopethatwehaveachieveda level of explication that is accurate and useful without being pedantic.Table of ContentsSet Theory. Relations. Functions.- Equations. Functions of one variable. Complex numbers.- Limits. Continuity. Differentiation (one variable).- Partial derivatives.- Elasticities. Elasticities of substitution.- Systems of equations.- Inequalities.- Series. Taylor’s formula.- Integration.- Difference equations.- Differential equations.- Topology in Euclidean space.- Convexity.- Classical optimization.- Linear and nonlinear programming.- Calculus of variations and optimal control theory.- Discrete dynamic optimization.- Vectors in ?n. Abstract spaces.- Matrices.- Determinants.- Eigenvalues. Quadratic forms.- Special matrices. Leontief systems.- Kronecker products and the vec operator. Differentiation of vectors and matrices.- Comparative statics.- Properties of cost and profit functions.- Consumer theory.- Topics from trade theory.- Topics from finance and growth theory.- Risk and risk aversion theory.- Finance and stochastic calculus.- Non-cooperative game theory.- Combinatorics.- Probability and statistics.- Probability distributions.- Method of least squares.

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Book SynopsisBack in the good old days on the fourth floor of the Altbau of Bonn's Ju­ ridicum, Werner Hildenbrand put an end to a debate about a festschrift in honor of an economist on the occasion of his turning 60 with a laconic: "Much too early." Remembering his position five years ago, we did not dare to think about one for him. But now he has turned 65. If consulted, he would most likely still answer: "Much too early." However, he has to take his official re­ tirement, and we believe that this is the right moment for such an endeavor. No doubt Werner Hildenbrand will not really retire. As professor emeritus, free from the constraints of a rigid teaching schedule and the burden of com­ mittee meetings, he will be able to indulge his passions. We expect him to pursue, with undiminished enthusiasm, his research, travel, golfing, the arts, and culinary pleasures - escaping real retirement.Table of ContentsThe Rationale for Measurability.- Inferior Goods, Giffen Goods, and Shochu.- Information and Efficiency in Coordination Games: Recent Experimental Results.- Market Innovation and Entrepreneurship: A Knightian View.- Objectives of an Imperfectly Competitive Firm: A Surplus Approach.- Monetary Equilibria.- Strategic Multilateral Exchange and Taxes.- Walras Equilibrium with Coordination.- On the Robustness of the Analysis of Expectational Coordination: From 3 to n + 2 goods.- Nonparametric Estimation of Additive Models with Homogeneous Components.- A Reinforcement Procedure Leading to Correlated Equilibrium.- A Theoretical Analysis of the Mean Slutsky-Income Effect in the CAPM.- Demand Dispersion, Metonymy and Ideal Panel Data.- Some Problems and Perspectives in Economic Theory.- Time Trends in the Joint Distributions of Income and Age.- The Economics of Network Industries.- On Price Competition with Heterogeneous Consumers.- On the Core of a Cartel.- Blame Avoidance as Motivating Force in the First Price Sealed Bid Private Value Auction.- Evasion of Tax on Interest Income in a Two-Country Model.

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Book SynopsisEinführender Text in die nicht-kooperative Spieltheorie, der besonders für Studenten geeignet ist, die Freude an präziser Modellierung haben. Neben den Grundlagen der Normalform- und Extensivformspiele werden Themen aus der Verhandlungstheorie, der Theorie der Wiederholten Spiele und der Evolutionären Spieltheorie behandelt. NEU: entsprechend der wachsenden Bedeutung von Auktionen ein Kapitel zur Auktionstheorie; Aufnahme weiterer Konzepte der nicht-kooperativen Spieltheorie wie z. B. "Mechanism Design" und "Stabiles Gleichgewicht".Trade ReviewAus den Rezensionen zur 3. Auflage: “... einen umfassenden Überblick über den gegenwärtigen Stand der nicht-kooperativen Spieltheorie ... Sie tun zudem ihr Bestes, um den sperrigen Stoff so verdaulich wie möglich zu präsentieren. Geschickt verknüpfen sie die Theorie mit spieltheoretischen Experimenten und ... mit passenden ökonomischen Beispielen. ... präzise und anschauliche Darstellung zentraler spieltheoritischer Modelle ... Wer schon als Bachelor-Student diesen Stoff beherrscht - was dank dieses Lehrbuchs kein Problem sein sollte – hat beim Master-Studium einen Startvorsprung.“ (in: Studium, Summer 2011, S. 26)Table of ContentsSpiele in Normalform.- Spiele in Extensivform.- Theorie der Verhandlungen.- Auktionstheorie.- Evolutionäre Spieltheorie.- Wiederholte Spiele.

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Book SynopsisDas Lehrbuch vermittelt die Grundlagen der Wirtschaftsmathematik. Dafür behandeln die Autoren Lineare Algebra, Analysis und Optimierung sowohl grundsätzlich als auch in der Anwendung auf ökonomische Fragestellungen, die Stochastik bleibt ausgeklammert. In der Darstellung wird auf mathematische Präzision Wert gelegt, ohne sie überzustrapazieren. Beispiele dienen dem Verständnis der Methodik und der wirtschaftlicher Fragestellungen. Das Buch erscheint in der 5., überarbeiteten und ergänzten Auflage und ist speziell für Studienanfänger gestaltet. Table of ContentsGrundlagen.- Lineare Algebra.- Folgen, Reihen und Finanzrechnung.- Funktionen einer reellen Variablen.- Funktionen von mehreren reellen Variablen.- Optimierung.

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Book SynopsisThis textbook introduces students of economics to the fundamental notions and instruments in linear algebra. Linearity is used as a first approximation to many problems that are studied in different branches of science, including economics and other social sciences. Linear algebra is also the most suitable to teach students what proofs are and how to prove a statement. The proofs that are given in the text are relatively easy to understand and also endow the student with different ways of thinking in making proofs. Theorems for which no proofs are given in the book are illustrated via figures and examples. All notions are illustrated appealing to geometric intuition. The book provides a variety of economic examples using linear algebraic tools. It mainly addresses students in economics who need to build up skills in understanding mathematical reasoning. Students in mathematics and informatics may also be interested in learning about the use of mathematics in economics.Table of ContentsSome Basic Concepts.- Vectors and Matrices.- Square Matrices and Determinants.- Inverse Matrix.- Systems of Linear Equations.- Linear Spaces.- Euclidean Spaces.- Linear Transformations.- Eigenvectors and Eigenvalues.- Linear Model of Production in a Classical Setting.- Linear Programming.- Natural Numbers and Induction.- Methods of Evaluating Determinants.- Complex Numbers.- Pseudoinverse.- Answers and Solutions.

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