Economic theory and philosophy Books

Book SynopsisThese volumes gather together a selection of autobiographical essays written by significant economists whose work is generally recognized to be at the forefront of the discipline as we enter the twenty-first century. The essays are largely based on introductions to volumes in the Edward Elgar series Economists of the Twentieth Century (which collects together the key papers of these economists). This volume focuses on leading economists who were born, or have spent the greater part of their lives, in America. The main chapters are accompanied by an introduction in which the editors place the autobiographical essays in a wider context. Economists will be fascinated by: the stories that lie behind familiar names why economists approach problems the way they do how careers develop how economists view what they are doing. These are all points that are invisible to those who simply read the published output of economics, so readers will gain personal insights into the development of the field.The books will be a valuable resource for economists, particularly historians of economic thought, as well as sociologists concerned with the economics profession, and those interested in the creative process and the social and scientific development of economics.Trade Review'I can only but repeat that reading these stories of life and work of these exemplary economists in their own words is a great joy. And not only that. It provides the reader with an insight into the development of our profession at the microlevel in a lively way.' -- A. Heertje, The Economic Journal'. . . a most enjoyable read.' -- Peter Groenewegen, History of Economics ReviewTable of ContentsContents: Introducing Exemplary Economists 1. Jacques J. Polak 2. Robert Dorfman 3. Melvin L. Greenhut 4. Mark Perlman 5. Thomas Mayer 6. Richard G. Lipsey 7. Allan H. Meltzer 8. Zvi Griliches 9. Richard E. Quandt 10. Yoram Barzel 11. Ryuzo Sato 12. Peter B. Kenen 13. G.S. Maddala 14. Dan Usher 15. Takeshi Amemiya 16. David Laidler 17. Dennis C. Mueller 18. Orley Ashenfelter 19. Michael P. Todaro 20. William H. Lazonick Index

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Book SynopsisThese volumes gather together a selection of autobiographical essays written by significant economists whose work is generally recognized to be at the forefront of the discipline as we enter the twenty-first century. The essays are largely based on introductions to volumes in the Edward Elgar series Economists of the Twentieth Century (which collects together the key papers of these economists). This volume focuses on leading economists who were born, or have spent the greater part of their lives, in America. The main chapters are accompanied by an introduction in which the editors place the autobiographical essays in a wider context. Economists will be fascinated by: the stories that lie behind familiar names why economists approach problems the way they do how careers develop how economists view what they are doing. These are all points that are invisible to those who simply read the published output of economics, so readers will gain personal insights into the development of the field.The books will be a valuable resource for economists, particularly historians of economic thought, as well as sociologists concerned with the economics profession, and those interested in the creative process and the social and scientific development of economics.Trade Review'I can only but repeat that reading these stories of life and work of these exemplary economists in their own words is a great joy. And not only that. It provides the reader with an insight into the development of our profession at the microlevel in a lively way.' -- A. Heertje, The Economic Journal'. . . a most enjoyable read.' -- Peter Groenewegen, History of Economics ReviewTable of ContentsContents: 1. Introducing Exemplary Economists 2. Shigeto Tsuru 3. Jack Wiseman 4. Herbert Giersch 5. R.D. Collison Black 6. George B. Richardson 7. Wilfred Beckerman 8. Mark Blaug 9. W. Max Corden 10. Assar Lindbeck 11. Samuel Brittan 12. Walter Eltis 13. Takashi Negishi 14. Koichi Hamada 15. Meghnad Desai 16. Deepak Lal 17. A.P. Thirlwall Index

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Book SynopsisWith selected readings ranging from the mercantilists of the 16th and 17th centuries to contemporary 20th century authors, Free Trade versus Protectionism addresses one of the oldest controversies in economic science - the fundamental opposition of these two doctrines. It is the first book ever to trace this debate over more than three centuries.Overbeek presents arguments advanced by advocates of free trade and protectionism alike, creating a useful tool for scrutinizing the standpoints of both schools. The book consists of seven parts, beginning with mercantilism and its critics. Subsequent sections examine the free traders and protectionists of the nineteenth century, the evolution of the debate between 1900 and 1940, and the discussion of free trade versus protectionism during the latter half of the twentieth century. At the beginning of each section, the editor's survey of the period under review places the material in proper context; the selections themselves are then preceded by the editor's introduction, which contains a brief biography of the author and an explanation of the author's views.Free Trade versus Protectionism will prove a useful source book for professors and students of the history of economic thought, international economics, international politics, and international business.Trade Review'The book under review provides a splendid sense of history about the debate between protectionists and free traders. . . . Overbeek quotes Goethe (viii) who wrote that "without a knowledge of history, we must retain content to remain in obscurity". It is for this reason that I strongly recommend this book, not only to students, but also to all those who want to be armed against the arguments of opportunistic politicians, rent-seeking interest groups and single issue promoters who have only contempt for liberty and prosperity.' -- Wolfgang Kasper, PolicyTable of ContentsContents: Preface 1. Mercantilism and its Critics 2. Classical Liberalism and Free Trade in the Late Eighteenth and Nineteenth Century 3. Protectionism in the Nineteenth Century 4. The Decline of Economic Liberalism and the Idea of Free Trade during the 1990–1940 Period 5. Protectionist Arguments during the 1900–1940 Period 6. The Economics of Free Trade during the Second Half of the Twentieth Century 7. Protectionist Opinions and the Idea of Managed Trade after 1945 Conclusion Index

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Book SynopsisThis book demonstrates alternatives to the lecture and chalkboard approach that dominates the teaching of economics, providing a range of innovative teaching techniques and examples aimed at engaging undergraduates in the learning of economics.The editors provide a brief history of the teaching of economics in higher education, as well as a review of current undergraduate teaching practices. Some of the field's leading educators then demonstrate alternative practices in three main sections: 'Active and Cooperative Learning', 'Writing, the Internet, and Discovery Through Sampling', and 'Examples from the World Around Us'. The topics in the twelve chapters of the book have been carefully selected based on their high potential for adoption by other instructors. Detailed, 'hands-on' examples are included within each chapter, illustrating how suggested approaches can be used in different courses and classroom situations at the undergraduate level. Also included are lists of 'Dos' and 'Dont's' to guide instructors through the successful implementation of activities.This book will be of great practical value to teachers of economics as well as administrators responsible for undergraduate instruction.Trade Review'Teaching Economics to Undergraduates deserves a prominent spot on the bookshelves of all economists who are interested in improving the effectiveness of their teaching, especially those with important undergraduate teaching responsibilities. Following an introductory essay, 11 chapters provide very specific ideas of new ways to structure one's teaching. Each chapter also contains a useful list of 'dos and don'ts' that add to their effectiveness.' -- Craig Swan, Journal of Economic Education'It should prove most helpful and beneficial to anyone who has a desire to be more innovative in the way he or she teaches economics to undergraduates, for this reason I give this book an enthusiastic thumbs up! . . . I wholeheartedly recommend this book to anyone contemplating changing his or her style of teaching undergraduate economics.' -- Richard J. Torz, Eastern Economic Journal'Almost every instructor reading this book will gain some valuable, low-cost, new ideas to supplement their courses.' -- R.M. Whaples, Choice'The editors and authors are outstanding teachers who have thought a great deal about how to make economics accessible to students with a wide range of learning styles. This systematic treatment of the subject will be extremely valuable for those who want to make their classrooms creative learning laboratories and for those who are trying to develop effective teaching and learning tools. I heartily recommend this work to all serious teachers of economics.' -- Michael Parkin, University of Western Ontario, Canada'The volume will provide two types of assistance to the teachers of economics to undergraduates. First, it will offer novel approaches that can enliven the process and increase the effectiveness with which knowledge and analytic skills can be imparted to the student. Second, it can stimulate the thought of the instructors themselves about the logic that should guide their teaching process. . . . It is a substantial contribution to the teaching of economics as well as to the pertinent research.' -- From the foreword by William J. Baumol'Recent years have witnessed a decline in the numbers of students studying economics in colleges and universities, not just in the USA but all over Europe. Some say that this is the result of the kind of subject economics has become: excessively technical, ever more mathematical. Perhaps so but in that case, it is even more important than ever to teach economics better, more effectively, more interestingly. Here is a book that looks critically at different ways of achieving that. It represents a substantial contribution to economics education.' -- The late Mark Blaug, formerly of the University of London and University of Buckingham, UKTable of ContentsContents: Foreword by William J. Baumol 1. Teaching Economics: What Was, Is, and Could Be Part I: Active and Cooperative Learning 2. Making Cooperative Learning Work in Economics Classes 3. Gender and Active Learning 4. Student Decision Making as Active Learning Part II: Writing, the Internet, and Discovery Through Sampling 5. Integrating the Practice of Writing Into Economics Instruction 6. Using the Internet and Computer Technology to Teach Economics 7. Using Monte Carlo Studies for Teaching Econometrics Part III: Examples from the World Around Us 8. Using Sports to Teach Economics 9. Using Literature and Drama in Undergraduate Economics Courses 10. Acceptance Speeches by the Nobel Laureates in Economics 11. Using Cases as an Effective Active Learning Technique 12. Engaging Students in Quantitative Analysis with the Academic and Popular Press

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Book SynopsisThis book discusses important recent developments in the theory, concepts and empirical applications of ecological economics and sustainable development. The editors have assembled a fascinating collection of papers from some of the leading scholars in the field of ecological economics.Topics covered include: the contribution of classical economics to ecological economics alternatives to the growth paradigm and Gross Domestic Product valuation in ecological economics and indicators of natural resource scarcity case studies of sustainable development critical reviews of the environmental Kuznets curve green national accounting. This will be an invaluable text for scholars, policy analysts and students interested in sustainable development and ecological, environmental and resource economics.Trade Review'The writing style is clear and sophisticated, and the quality of production high.' -- Steve Harrison, Economic Analysis and Policy'. . . what we have in this anthropology is a very readable collection of well written articles which explore the limits of both conventional economic theory and new approaches . . . For a general reader involved in sustainable development the book is a good compilation of current approaches . . . The style and technical level in the articles makes this book usable at levels from undergraduate university through the governmental sectors. Its broad range and readable style makes the collection a good working reference volume.' -- Edward J. Linky, Natural Resources ForumTable of ContentsContents: Introduction: The Changing Nature of Economics – Towards an Ecological Economics Part I: The Nature of Economics: Historical Perspectives for Ecological and Social Economic 1. Early Links between Sciences of Nature and Economics 2. Theories and Methods in Ecological Economics: A Tentative Classification 3. The Improvisation of Discordant Knowledges 4. Searching for Sustainability: The Poverty of Spontaneous Order 5. The Challenges of Valuation: Ecological Economics between Matter and Meaning Part II: The Economics of Nature 6. The Need for a New Growth Paradigm 7. Implementing Sustainable Development: A Practical Framework 8. The Environmental Kuznets Curve: A Review 9. Alternatives to Gross Domestic Product: A Critical Survey 10. Natural Resource Scarcity Indicators: An Ecological Economic Synthesis 11. Green National Accounting: Goals and Methods Index

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Book SynopsisThis innovative book analyses the geographical patterns in foreign direct investment flows by combining elements from the theory of international production and the theory of economic geography. It develops a model for explaining why foreign direct investment is attracted to certain locations.The book examines foreign direct investment from a spatial perspective and considers how knowledge, regional synergies, economic integration, corporate strategies and networking affect patterns of investment. Using a model, Robert Morsink derives sets of determinants for different foreign direct investment patterns of multinationals and evaluates the corporate strategy behind these flows. First, he analyses investment flows within the European Union. Then, he goes into investments originating from the United States, Japan, Germany and the Netherlands and destined for Western Europe, South and Southeast Asia and North and South America. These analyses enable him to make suggestions for government policy at both the national and international level to attract foreign investment.Foreign Direct Investment and Corporate Networking will be of interest to economists working in the areas of international trade and investment, economic geographers and corporate strategy advisors as well as to policymakers from government and non-governmental organizations.Trade Review'In one of the first studies to link the fields of international business and economic geography Robert Morsink develops a gravity model of geographic location to explain foreign direct investment patterns.' -- Alan M. Rugman, University of Reading, UKTable of ContentsContents: 1. Introduction 2. A Theoretical Framework for Foreign Direct Investment 3. A Model for Analysing Geographical Investment Patterns: MOSAIC 4. Investments within the European Union 5. Investments from the United States 6. Investments from Japan 7. Investments from Germany 8. Investments from the Netherlands 9. Policy Implications 10. Evaluation 11. Summary Bibliography Index

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Book SynopsisNancy and Richard Ruggles's seminal work on prices has a contemporary relevance for modern-day theorists and practitioners. These carefully selected essays provide a core analysis of pricing systems and the behavior and measurement of prices.Initially, the authors examine pricing systems and the role of prices in the theories of value and income distribution. They examine the theory of marginal cost pricing and the welfare basis of the marginal cost pricing principle before focusing on the problems of measuring price changes over time and space. They also examine the reliability of domestic price statistics and price indices and offer an evaluation of the wholesale price index. They expand this analysis to examine the behavior of prices, costs, wage rates and earnings in the United States economy, placing particular emphasis on inflation between 1950 and 1973 and on price stability and economic growth.This book will be invaluable to academics, statisticians and policymakers with an interest in micreoconomics and pricing.Trade Review'Richard Ruggles, often assisted by Nancy Ruggles, has been a major contributor to national income accounting and to the empirical study of microeconomics and macroeconomics using that and other data. He has focused on the quantitative analysis of actual economic systems in a discipline increasingly preoccupied with abstract pure conceptual models. Like the work of Simon Kuznets and others, Ruggles's analyses encompass an unusually wide range of variables.' -- Warren J. Samuels, Michigan State University, US'[Nancy and Richard Ruggles] were able to state and explain theoretical propositions and debates clearly and accurately, and they skilfully and tellingly brought empirical data to bear. These essays were written between 1940 and 1990 but almost all of them are very relevant to issues of great importance in 2000.' -- From the foreword by James Tobin'They are clearly a classic team that has contributed enormously to national income account analysis over the years. The recent concern about measuring prices and productivity and about the correct indexing for Social Security has brought renewed attention to their work. Every serious economics library should have the volumes.' -- Martin Feldstein, National Bureau of Economic Research, USTable of ContentsContents: Preface Part I: Price Theory 1. The Welfare Basis of the Marginal Cost Pricing Principle 2. Recent Developments in the Theory of Marginal Cost Pricing 3. Discriminatory and Competitive Pricing 4. The Value of Value Theory Part II: Price Measurement 5. The Wholesale Price Index 6. Measuring the Cost of Quality 7. Domestic Price Statistics 8. Redundancy in Price Indexes for International Comparisons 9. Price Indexes and International Price Comparisons 10. The Wholesale Price Index Part III: Price Behavior 11. The Relative Movements of Real and Money Wage Rates 12. The Nature of Price Flexibility and the Determinants of Relative Price Changes in the Economy 13. Price Stability and Economic Growth in the United States 14. Chronic Inflation in the United States, 1950–73 15. The Anatomy of Earnings Behavior 16. The Measurement of the Supply and the Use of Labor Bibliography Index

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Book SynopsisThis book sheds new light on the political economy of public management reform. It examines the new forms of economic decentralization and macroeconomic adjustment, and discusses their implications for policy design and regulation.The authors discuss leading-edge research on public management reform, privatization and decentralization in both industrialized and aid-dependent countries, concentrating on the meso-level of institutional response. Combining theory, case studies and institutional analysis, they focus on issues including public/private partnerships, public finance and aid allocation. The authors also present new ideas on the design of a regulatory framework.This book will be welcomed by academics and researchers working in the fields of development studies, development economics, political economy and international public management as well as policymakers working for government agencies and NGOs in developing countries.Table of ContentsContents: 1. Introduction: Economic Decentralization, Issues of Theory and Policy Part I: Decentralization: Public Management Issues 2. Economic Theories of Decentralization 3. Public–Private Partnerships 4. The Multilateral Institutions and Budget Accountability in Jamaica 5. Public Expenditure Reform without Policy Change 6. Aid, Financial Decentralization and Accumulation under Economic Reforms Part II: Policy and Regulation in Privatizing Systems 7. Informal Regulation 8. Charging for Health Care in Tanzania 9. The Water Industry in England and Wales 10. Management Control, Ownership and Development Index

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Book SynopsisThe Foundations of Monetary Economics presents an authoritative collection of key articles on monetary economics - one of the most contentious areas of economics. David Laidler - who has himself made important contributions - has selected those articles which are essential to an understanding of the origin and development of monetary economics.This important three-volume collection includes classic papers from the late 19th and early 20th centuries but places the emphasis on those papers written in the last half century. Particular weight is given to work that pays explicit attention to money's role in processes of exchange. Topics include the origins of money; cash in advance; overlapping generations and legal restrictions; theories of the demand for money; empirical studies of the demand for money; money, prices and output; money in general equilibrium and disequilibrium; money and clearing markets; credit market effects; monetary explanations of the cycle; money and the Great Depression; money and growth; monetary policy and the price level; rational expectations and monetary policy; central banking; free banking and the new monetary economics.Trade Review'This three-volume set can be strongly recommended, because it will be an authoritative source for all those interested in political economy, monetary policy and the history of monetary thought, who will also benefit from not having to search for many until now dispersed articles, which are not readily accessible in every library.' -- Sergio Rossi, KyklosTable of ContentsContents: Acknowledgements • Introduction Volume I: Part I: The Origins of Money 1. Karl Menger (sic) (1892), ‘On the Origin of Money’ 2. Karl Brunner and Allan H. Meltzer (1971), ‘The Uses of Money: Money in the Theory of an Exchange Economy’ 3. Joseph M. Ostroy (1973), ‘The Informational Efficiency of Monetary Exchange’ 4. Robert A. Jones (1976), ‘The Origin and Development of Media of Exchange’ 5. Armen A. Alchian (1977), ‘Why Money?’ 6. Nobuhiro Kiyotaki and Randall Wright (1989), ‘On Money as a Medium of Exchange’ 7. Toni Gravelle (1996), ‘What is Old is New Again’ Part II: Cash in Advance 8. Robert Clower (1967), ‘A Reconsideration of the Microfoundations of Monetary Theory’ 9. Meir Kohn (1981), ‘In Defense of the Finance Constraint’ Part III: Overlapping Generations and Legal Restrictions 10. Paul A. Samuelson (1958), ‘An Exact Consumption-Loan Model of Interest With or Without the Social Contrivance of Money’ 11. Bennett T. McCallum (1983), ‘The Role of Overlapping-Generations Models in Monetary Economics’ 12. Neil Wallace (1988), ‘A Suggestion for Oversimplifying the Theory of Money’ Part IV: Theories of the Damand for Money 13. F.Y. Edgeworth, Esq., M.A. (1888), ‘The Mathematical Theory of Banking’ 14. A.C. Pigou (1917), ‘The Value of Money’ 15. S.P. Chambers (1934-1935), ‘Fluctuations in Capital and the Demand for Money’ 16. J.R. Hicks (1935), ‘A Suggestion for Simplifying the Theory of Money’ 17. J.C. Gilbert (1953), ‘The Demand for Money: The Development of an Economic Concept’ 18. Milton Friedman (1956), ‘The Quantity Theory of Money-A Restatement’ 19. William J. Baumol (1952), ‘The Transactions Demand for Cash: An Inventory Theoretic Approach’ 20. J. Tobin (1958), ‘Liquidity Preference as Behavior Towards Risk’ 21. Merton H. Miller and Daniel Orr (1966), ‘A Model of the Demand for Money by Firms’ 22. Maurice D. Weinrobe (1972), ‘A Simple Model of the Precautionary Demand for Money’ 23. M.R. Gray and J.M. Parkin (1973), ‘Portfolio Diversification as Optimal Precautionary Behaviour’ 24. Lars E.O. Svensson (1985), ‘Money and Asset Prices in a Cash-in-Advance Economy’ Part V: Empirical Studies of the Demand for Money 25. A.J. Brown (1939), ‘Interest, Prices, and the Demand Schedule for Idle Money’ 26. Allan H. Meltzer (1963), ‘The Demand for Money: The Evidence from the Time Series’ 27. Edgar L. Feige (1967), ‘Expectations and Adjustments in the Monetary Sector’ 28. Michael D. Bordo and Lars Jonung (1990), ‘The Long-Run Behavior of Velocity: The Institutional Approach Revisited’ 29. William A. Barnett, Douglas Fisher and Apostolos Serletis (1992), ‘Consumer Theory and the Demand for Money’ Name Index Volume II: Part I: Money, Prices and Output 1. Knut Wicksell (1907), ‘The Influence of the Rate of Interest on Prices’ 2. R.F. Harrod (1937), ‘Mr. Keynes and Traditional Theory’ 3. J.R. Hicks (1937), ‘Mr Keynes and the “Classics”: A Suggested Interpretation’ 4. Franco Modigliani (1944), ‘Liquidity Preference and the Theory of Interest and Money’ 5. Don Patinkin (1952), ‘Price Flexibility and Full Employment’ Part II: Money in General Equilibrium and Disequilibrium 6. G.C. Archibald and R.G. Lipsey (1958), ‘Monetary and Value Theory: A Critique of Lange and Patinkin’ 7. James Tobin (1969), ‘A General Equilibrium Approach To Monetary Theory’ 8. Robert J. Barro and Herschel I. Grossman (1971), ‘A General Disequilibrium Model of Income and Employment’ 9. P.W. Howitt (1974), ‘Stability and the Quantity Theory’ 10. Axel Leijonhufvud (1973), ‘Effective Demand Failures’ 11. Peter D. Jonson (1976), ‘Money, Prices and Output: An Integrative Essay’ Part III: Money and Clearing Markets 12. Robert E. Lucas, Jr. (1972), ‘Expectations and the Neutrality of Money’ 13. Timothy D. Lane (1990), ‘Costly Portfolio Adjustment and the Short-Run Demand for Money’ Part IV: Credit Market Effects 14. Joseph E. Stiglitz and Andrew Weiss (1981), ‘Credit Rationing in Markets with Imperfect Information’ 15. Ben S. Bernanke and Alan S. Blinder (1988), ‘Credit, Money, and Aggregate Demand’ Part V: Monetary Explanations of the Cycle 16. Irving Fisher (1923), ‘The Business Cycle Largely A “Dance of the Dollar”’ 17. D.H. Robertson (1928), ‘Theories of Banking Policy’ 18. R.G. Hawtrey (1929), ‘The Monetary Theory of the Trade Cycle’ 19. Friedrich A. Von Hayek (1939), ‘Price Expectations, Monetary Disturbances and Malinvestments’ 20. Clark Warburton (1952), ‘The Misplaced Emphasis in Contemporary Business-Fluctuation Theory’ 21. Milton Friedman and Anna J. Schwartz (1963), ‘Money and Business Cycles’ 22. Robert E. Lucas, Jr. (1977), ‘Understanding Business Cycles’ 23. Leland B. Yeager (1986), ‘The Significance of Monetary Disequilibrium’ Part VI: Money and the Great Depression 24. Irving Fisher (1933), ‘The Debt-Deflation Theory of Great Depressions’ 25. Lauchlin Currie (1934), ‘The Failure of Monetary Policy to Prevent the Depression of 1929-32’ 26. Ben S. Bernanke (1983), ‘Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression’ Name Index Volume III: Part I: Money and Growth 1. James Tobin (1965), ‘Money and Economic Growth’ 2. Miguel Sidrauski (1967), ‘Rational Choice and Patterns of Growth in a Monetary Economy’ 3. Joel Fried (1973), ‘Money, Exchange and Growth’ Part II: Money and Welfare 4. Martin J. Bailey (1956), ‘The Welfare Cost of Inflationary Finance’ 5. Harry G. Johnson (1969), ‘Inside Money, Outside Money, Income, Wealth, and Welfare In Monetary Theory’ 6. A. Leijonhufvud (1977), ‘Costs and Consequences of Inflation’ 7. Dwight Jaffee and Ephraim Kleiman (1977), ‘The Welfare Implications of Uneven Inflation’ Part III: Monetary Policy and the Price Level 8. Alfred Marshall (1925), ‘Remedies for Fluctuations in General Prices (1887)’ 9. Irving Fisher (1913), ‘A Remedy for the Rising Cost of Living: Standardizing the Dollar’ 10. Henry C. Simons (1936), ‘Rules Versus Authorities in Monetary Policy’ 11. Milton Friedman (1968), ‘The Role of Monetary Policy’ Part IV: Rational Expectations and Monetary Policy 12. Thomas J. Sargent and Neil Wallace (1976), ‘Rational Expectations and the Theory of Economic Policy’ 13. Edmund S. Phelps and John B. Taylor (1977), ‘Stabilizing Powers of Monetary Policy under Rational Expectations’ 14. Stanley Fischer (1977), ‘Long-Term Contracts, Rational Expectations and the Optimal Money Supply Rule’ 15. Peter Howitt (1981), ‘Activist Monetary Policy under Rational Expectations’ Part V: Central Banking 16. Michael Parkin and Robin Bade (1977), ‘Central-Bank Laws and Monetary Policies: A Preliminary Investigation’ 17. Thomas J. Sargent and Neil Wallace (1981), ‘Some Unpleasant Monetarist Arithmetic’ 18. Robert J. Barro and David B. Gordon (1983), ‘A Positive Theory of Monetary Policy in a Natural Rate Model’ 19. Robert J. Barro (1986), ‘Recent Developments in the Theory of Rules Versus Discretion’ 20. Carl E. Walsh (1995), ‘Optimal Contracts for Central Bankers’ 21. Bennett T. McCallum (1995), ‘Two Fallacies Concerning Central-Bank Independence’ 22. Stanley Fischer (1994), ‘Modern Central Banking’ Part VI: Free Banking and the New Monetary Economics 23. Benjamin Klein (1974), ‘The Competitive Supply of Money’ 24. Eugene F. Fama (1980), ‘Banking in the Theory of Finance’ 25. Kevin D. Hoover (1988), ‘Money, Prices and Finance in the New Monetary Economics’ 26. George A. Selgin and Lawrence H. White (1994), ‘How Would the Invisible Hand Handle Money?’ Name Index

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Book SynopsisCommunism has collapsed. Capitalism has rid itself of the competition on which it thrives. But though now victorious, capitalism has become a threat. The future of us all may be shaped by the outcome of the conflict between capitalism as victor and capitalism as threat. Not only in Europe, but also in the US and Japan - and no doubt shortly in the Eastern countries too - the great debate is capitalism versus capitalism. On the one hand is the "neo-American" model based on individual achievement and short-term profits. On the other is the Rhine model practices in Switzerland, Germany, Benelux, Northern Europe and, partly, in Japan. In the Rhine model collective achievement and public concensus are seen as the keys to long-term success. The first is more seductive, the second more effective. These two opposing forms of capitalism are engaged in a war which, like all internal conflicts, involves both secrecy and even hypocrisy. The outcome of this struggle could affect the quality of life on all levels of society. The author of this book aims to provide a synthesis which will force the reader to consider the political and economic issues at stake towards the end of the century.

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Book SynopsisIn the aftermath of the invasion of Afghanistan, the U.S. Agency for International Development supported the Afghan Ministry of Public Health to deliver basic healthcare to 90 percent of the population, at a cost of $4.50 a head. The program played a vital role in improving the country's health; the number of children dying before the age of five dropped by 100,000 a year. But accounting standards at the Ministry of Public Health concerned the United States Special Investigator General for Afghanistan. There was no evidence of malfeasance, nor argument about the success of the program. For all that the results were fantastic, receipts were not in order. The investigator called for the health program to be suspended because of ""financial management deficiencies"" at the ministry.This case illustrates a growing problem: an important and justified focus on corruption as a barrier to development has led to policy change in aid agencies that is damaging the potential for aid to deliver results. Donors have treated corruption as an issue they can measure and improve, and from which they can insulate their projects at acceptable costs by controlling processes and monitoring receipts. Results Not Receipts highlights the weak link between donors' preferred measures of corruption and development outcomes related to our limited ability to measure the problem. It discusses the costs of the standard anti-corruption tools of fiduciary controls and centralized delivery, and it suggests a different approach to tackling the problem of corruption in development: focus on outcomes.Trade ReviewErudite, engagingly written, and upbeat."- Duncan Green, Senior Strategic Adviser, OxfamTable of Contents Preface Acknowledgments 1. The Two Problems of Corruption and Poor Governance 2. Measuring What Wants to Be Hidden 3. Development Predestinationism 4. Improving Institutions 5. Practical Policymaking for Donors 6. Reimagining the Development Dialogue Reference Index

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Book SynopsisThis book is made from the connections that the author saw when he compared his experience inside a video game with what he learned through a formal study of economic theory.Set in the Massively Multiplayer Online Role-Playing Game (MMORPG) of Eternal Lands, it follows the true story of Mr. Mind, a gamer who builds a business inside the game world that he calls RICH. This business grows from a small start-up to an unregulated natural monopoly that abuses its market power by intentionally losing money to drive competitors out of business.RICH becomes so influential that it breaks the market process with a unique case of regulatory capture. Through this story, the book demonstrates how economic thinking is absorbed by experimenting inside an online video game.The Economics of Online Gaming covers basic economic concepts, unique economic issues, and general economic themes. Each of these topics begins with the context of a story and continues with an explanation of the economic theory behind it, finishing with a relevant real-world connection. It supports economic theory in an emotional way that cannot be shared through math or charts or graphs.Appendix B provides a comprehensive outline of ideas for teaching and discussion in each chapter.

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Book SynopsisThe Causes, Culprits, and Context of Our Money Troubles is the first book in a series about the psychology of money by Dr. Christopher Bayer, the Wall Street Psychologist. Informed by more than 30 years of research in the areas of economics/finance and psychology, Dr. Bayer explores the history of our relationship with money—specifically the role morality, and the concept of “virtue,” has played in that history, and the wealth versus money dichotomy. Filled with tales and exemplifications, the book introduces readers, pseudonymously, to sample patients of money -mind imbalances, such as the “11 million-dollar man” who becomes corrupted by money's influence, that unbalances their internal gyroscope (internal moral compass). It draws readers to examine past- and present-day corruptions derived from money's influence and compels them to examine concepts and theories from great economists of yore (e.g., Adam Smith, Karl Marx, and J.M. Keynes) to create a theoretical foundation for what the author calls a Gyroscope methodology. As a foundational tool in the series, this book invites readers to consider, for themselves, stories of mass mind-control perpetrated by marketing mavens who utilize (and perhaps manipulate) insights from behavioral psychology to generate rank materialism, manifested in ever-increasing consumption, palatable to the public.

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Book SynopsisThe Bottomless Line—Important Lessons They Did Not Teach You in Business School is the second book in a series about the psychology of money by Dr. Christopher A. Bayer, the Wall Street Psychologist. This book builds on the key concepts in the first volume, to draw the reader’s attention to the “dark side” of the business world. Structured in a way that enables readers to examine contemporary examples of willful co-optation, misuse, and misinterpretation of old texts and ideas, run-of-the-mill corruption, and dangerous groupthink, the author examines the personal and broad- scale financial troubles generated by reckless financial misunderstandings. The book is an exploration of how direct and indirect psychological conditioning eliminates morality from decision making in the world of finance. It provides evidence that ties systemic corruption on Wall Street to the lessons of the storied Milgram experiments (obedience, effects of perceived hierarchy and status, immoral actions—“just following orders”). In the end, readers are led to the “big takeaway”: the need to cultivate and maintain a core of character in order to weather any ethical storm. It also summarizes the history of financial psychopathy, details the rise and fall of a few notorious Wall Street perpetrators—from the brass at Enron to the infamous Bernard Madoff—and examines how their hardwired psychopathy leaves them bereft of moral qualities necessary to build a functioning and responsive moral compass of Gyroscope.

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Book SynopsisBody and Mind—The Effects of Money Problems is the third book in a series about the psychology of money by Dr. Christopher Bayer, the Wall Street Psychologist. This volume advances readers into an examination of the effect of money problems on the body and mind. It presents research that supports solutions offered throughout the series to fix maladjustments of the mind and highlights the importance of developing a sound grasp of the mind-body connection to ensure there is an unbreakable bond at all levels. Strategies for developing stress-free solutions for avoiding depression, in addition to detailed data that point to high recovery rates from depression, offer readers practical, tangible tools for managing real-life, money problems. Pointers on how to avoid The Triggers That Produce Multiple Wounds play a critical role in helping readers to equip their gyroscope (internal compass) to cope with stress. Moneystrewn professions, such as finance, are littered with those who want it all—many of them high-functioning addicts to stress, alcohol, drugs, sex, gambling, and the accumulation of money in its pure state. This book offers plenty of stories of excess and closes with a meaningful invitation to the reader: Envision Your Own Eden and the Good Life—words of encouragement to help them consider how much money is enough.

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Book SynopsisThe Gyroscope—A Personal “Money Wellness” Strategy is the fourth book in a series about the psychology of money by Dr. Christopher Bayer, the Wall Street Psychologist. The book builds on the foundations laid in the previous three books in the series and delivers to the reader The Gyroscope— a personal wellness strategy, with a robust menu of tools for overcoming some of the critical money problems identified in the previous three books. After a comprehensive definition of Gyroscope, readers are guided through self-assessments and evaluations, including communication and relaxation techniques—all aligned with or made to relate to best practices in fiduciary responsibility. As a tool for self-improvement, the Gyroscope offers readers strategies for work-environment survival and professional risk management, in addition to techniques for personal deception avoidance. Techniques in this area draw readers into a 15-point Personal Rules of Engagement checklist, and exercises in a personal mission statement, with techniques for success benchmarking, affirmations, and engagement in a personal Return on Investment (ROI) calculator. As the final book in the series, it offers readers a tangible gift, an appendix covering the Top Five Things You Should Do Next—a concise, hard-hitting handful of advice that will get anyone on the road toward achieving their goal of balance and fulfillment—a naturally, solid, Gyroscope.

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Book SynopsisThe unconditional basic income (UBI) has attracted renewed attention in academia, as well as in public discussions in recent years, and much has been written on the possible consequences of a UBI. However, this is the first book focusing on the UBI in Europe that offers empirical research findings. It includes a survey on preferences for a UBI in the EU; an assessment of the political feasibility of a UBI in the EU; field studies in the Netherlands and Scotland; and the findings of laboratory experiments. Presenting contributions from Dutch and international researchers, this book provides scientific answers to the question of whether a UBI is desirable and feasible in Europe.Trade Review“The analysis is very detailed and robust, providing accessible data for anyone wanting to discover the feasibility of a basic income in Europe. The book is particularly useful for those wanting to understand which European nations, and social groups within those countries, are keen on or attracted to the idea of a basic income. The book is also very rich in terms of method … . This is a great text with sublime detail on basic income studies across Europe.” (Brian McDonough, Basic Income Studies, February 24, 2022)“Delsen’s Book provides an insightful collection of studies examining unconditional basic income in terms of its desirability and feasibility in a European context. … the book successfully contributes to a better understanding of unconditional basic income and can help informed, evidence-based policymaking. … Hence, I recommend the reading of this book, particularly for newcomers to the field, and suggest complementing it with some additional investigation of the effects of unconditional basic income.” (Cyrille Francisco, European Journal of Social Security, July 19, 2021)“This book is worth the read and its contents and ideas are fitting well with the current social situation generated by the COVID-19 pandemic. … It is helpful for any student or academic interested in UBI, as well as political decision-makers who want to get an informed perspective on the potential that basic income holds.” (Mircea Gherghina, British Journal of Industrial Relations, Vol. 58 (4), 2020)“Even though the book is focused on European countries, the insights provided through empirical research in the chapters make it a must-read for students, proponents or opponents of UBI, as well as policy makers who are seeking theoretical or practical evidence of the impacts of UBI. … this book provides significant insights into the literature and state of the art in the field of UBI.” (Kruti R. Lehenbauer, Journal of Behavioral and Experimental Economics, Vol. 86, 2020)Table of ContentsUnconditional Basic Income and Welfare State Reform in Representative Democracies.-Individual Preferences for the Unconditional Basic Income in the European Union.-Is a Basic Income Feasible in Europe?.-Exploring Benefits and Costs: Challenges of Implementing Citizen’s Basic Income in Scotland.-Job Search, Employment Capabilities and Well-being of People on Welfare in the Dutch ‘Participation Income’ Experiments.-The Who and the Why? Selection Bias in an Unconditional Basic Income Inspired Social Assistance Experiment.-Experimental Economics: A Test-Bed for the Unconditional Basic Income?.-Experimental and Game Theoretical Analyses of the Unconditional Basic Income.

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Book SynopsisAs Artificial Intelligence (AI) seizes all aspects of human life, there is a fundamental shift in the way in which humans are thinking of and doing things. Ordinarily, humans have relied on economics and finance theories to make sense of, and predict concepts such as comparative advantage, long run economic growth, lack or distortion of information and failures, role of labour as a factor of production and the decision making process for the purpose of allocating resources among other theories. Of interest though is that literature has not attempted to utilize these advances in technology in order to modernize economic and finance theories that are fundamental in the decision making process for the purpose of allocating scarce resources among other things. With the simulated intelligence in machines, which allows machines to act like humans and to some extent even anticipate events better than humans, thanks to their ability to handle massive data sets, this book will use artificial intelligence to explain what these economic and finance theories mean in the context of the agent wanting to make a decision. The main feature of finance and economic theories is that they try to eliminate the effects of uncertainties by attempting to bring the future to the present. The fundamentals of this statement is deeply rooted in risk and risk management. In behavioural sciences, economics as a discipline has always provided a well-established foundation for understanding uncertainties and what this means for decision making. Finance and economics have done this through different models which attempt to predict the future. On its part, risk management attempts to hedge or mitigate these uncertainties in order for “the planner” to reach the favourable outcome. This book focuses on how AI is to redefine certain important economic and financial theories that are specifically used for the purpose of eliminating uncertainties so as to allow agents to make informed decisions. In effect, certain aspects of finance and economic theories cannot be understood in their entirety without the incorporation of AI.Table of ContentsIntroduction to Artificial Intelligence in Economics and Finance Theories.- The Growth Model.- Comparative Advantage.- The Dual-Sector Model.- Dynamic Inconsistency Theory.- The Philipps Curve.- The Laffer Curve.- Adverse Selection.- Moral Hazard.- Creative Destruction.- The Agency Theory.- The Legitimacy Theory and the Legitimacy Gap.- Synopsis: Artificial Intelligence in Finance and Economics Theories.- Index

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Book SynopsisThis book is the result of a multi-year research project led and sponsored by the University of Chieti-Pescara, National Chengchi University, University of Salamanca, and Osaka University. It is the fifth volume to emerge from that international project, held under the aegis of the United Nations Academic Impact in 2020. All the essays in this volume were (virtually) discussed at the University of L’Aquila―as the venue of the 2nd International Conference on Decision Economics, a three-day global gathering of approximately one hundred scholars and practitioners—and were subjected to thorough peer review by leading experts in the field. The essays reflect the extent, diversity, and richness of several research areas, both normative and descriptive, and are an invaluable resource for graduate-level and PhD students, academics, researchers, policymakers and other professionals, especially in the social and cognitive sciences. Given its interdisciplinary scope, the book subsequently delivers new approaches on how to contribute to the future of economics, providing alternative explanations for various socio-economic issues such as computable humanities; cognitive, behavioural, and experimental perspectives in economics; data analysis and machine learning as well as research areas at the intersection of computer science, artificial intelligence, mathematics, and statistics; agent-based modelling and the related. The editors are grateful to the scientific committee for its continuous support throughout the research project as well as to the many participants for their insightful comments and always probing questions. In any case, the collaboration involved in the project extends far beyond the group of authors published in this volume and is reflected in the quality of the essays published over the years.

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Book SynopsisThis book is Volume I of a two-volume set on antitrust policy, analyzing the economic efficiency and moral desirability of various tests for antitrust legality, including those promulgated by US and EU antitrust law. The overall study consists of three parts. Part I (Chapters 1-8) introduces readers to the economic, moral, and legal concepts that play important roles in antitrust-policy analysis. Part II (Chapters 9-16) analyzes the impacts of eight types of conduct covered by antitrust policy and various possible government responses to such conduct in terms of economic efficiency, the securing of liberal moral rights, and the instantiation of various utilitarian, non-utilitarian-egalitarian, and mixed conceptions of the moral good. Part III (Chapters 17-18) provides detailed information on US antitrust law and EU competition law, and compares the extent to which—when correctly interpreted and applied—these two bodies of law could ensure economic efficiency, protect liberal moral rights, and instantiate various morally defensible conceptions of the moral good. This first volume contains Part I and the first two chapters of Part II of the overall study—the two chapters that focus on oligopolistic and predatory conduct of all kinds, respectively. The book will appeal to undergraduate and graduate students of economics and law who are interested in welfare economics, antitrust legality and the General Theory of the Second Best.Table of ContentsPart I: Basic Concepts and Analytic Protocols.- Part II: The Morally-Relevant Effects of Specific Categories of Antitrust-Policy-Coverable Conduct and the Ability of Government to Secure Better Options.

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Book SynopsisThis textbook teaches some of the basic econometric methods and the underlying assumptions behind them. It also includes a simple and concise treatment of more advanced topics in spatial correlation, panel data, limited dependent variables, regression diagnostics, specification testing and time series analysis. Each chapter has a set of theoretical exercises as well as empirical illustrations using real economic applications. These empirical exercises usually replicate a published article using Stata, Eviews as well as SAS.This new sixth edition has been fully revised and updated, and includes new material on limited dependent variables and panel data as well as revision of basic topics like heteroskedasticity, endogeneity, over-identification and specification testing. The author also provides more exercises and empirical examples based on published economic applications.Table of ContentsPart 1: What Is Econometrics?.- Basic Statistical Concepts.- Simple Linear Regression.- Multiple Regression Analysis.- Violations of the Classical Assumptions.- Distributed Lags and Dynamic Models.- Part 2: The General Linear Model: The Basics.- Regression Diagnostics and Specification Tests.- Generalized Least Squares.- Seemingly Unrelated Regressions.- Simultaneous Equations Model.- Pooling Time-Series of Cross-Section Data.- Limited Dependent Variables.- Time-Series Analysis.

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Book SynopsisThis book is comprised of the latest research into CSS methods, uses, and results, as presented at the 2020 annual conference of the Computational Social Science Society of the Americas (CSSSA). Computational social science (CSS) is the science that investigates social and behavioral dynamics through social simulation, social network analysis, and social media analysis. The CSSSA is a professional society that aims to advance the field of computational social science in all areas, including basic and applied orientations, by holding conferences and workshops, promoting standards of scientific excellence in research and teaching, and publishing research findings and results. The above-mentioned conference was held virtually, October 8 – 11, 2020. What follows is a diverse representation of new results and approaches to using the tools of CSS and agent-based modeling (ABM) in exploring complex phenomena across many different domains. Readers will therefore not only have the results of these specific projects upon which to build, along with a wealth of case-study examples that can serve as meaningful exemplars for new research projects and activities, they will also gain a greater appreciation for the broad scope of CSS.Table of ContentsDale Brearcliffe and Andrew Crooks: Creating Intelligent Agents: Combining Agent-Based Modeling with Machine LearningClaudius Gros: Envy splits societies into a lower and a upper classMarie Alaghband and Ivan Garibay: Effects of Non-Cognitive Factors on Post-Secondary Persistence of Deaf Students: An Agent-Based Modeling ApproachAndrew Collins: Comparing Agent-Based Modeling to Cooperative Game Theory and Human BehaviorPeter Chew and Jonathan Chew: Analyzing transnational narratives in Twitter: an unsupervised approach using PARAFACSantiago Núñez-Corrales, Milton Friesen, Srikanth Mudigonda, Rajesh Venkatachalapathy and Jeffrey Graham: In-Silico models with greater fidelity to social processes: towards ABM platforms with realistic concurrencySaeed Langarudi, Carlos Silva and Sam Fernald: Dynamics of Information Perception in Management of CommonsH. Van Dyke Parunak: Psychology from StigmergyEce Mutlu, Ivan Garibay and Amirarsalan Rajabi: CD-SEIZ: Cognition-Driven SEIZ Compartmental Model for the Prediction of Information Cascades on TwitterJiin Jung, Aaron Bramson, William Crano, Scott Page and John Miller: Cultural Drift, Indirect Minority Influence, Network Structure and Their Impacts on Cultural Change and DiversityLeticia Izquiero, Gamaliel Palomo, Arnaud Grignard, Luis Alonso, Mario Siller and Kent Larson: An agent-based model to evaluate the perception of safety in informal settlementsWilliam Leibzon: Study of Altruism as a Behavioral Trait in Game Theory Network Dynamics with Prisoner Dilemma GamesMatthew Koehler, David Slater, Garry Jacyna and James Thompson: Analyzing the potential impact of nonpharmaceutical interventions on the spread of COVID-19 (COVID-19 work in progress)Shigeaki Ogibayashi: An Agent-Based Model of Infectious Diseases that Incorporates the Role of Immune Cells and AntibodiesNicholas Willems, Cale Reeves, Vivek Shastry and Varun Rai: Heterogeneity in populations and behaviors: An agent-based model of the social spread of COVID-19 Vivek Shastry, Cale Reeves, Nicholas Willems and Varun Rai: Work In Progress: COVID-19 Policy Evaluation (CoPE) Tool: An agent-based model for ex-ante evaluation of policy designs and behavioral responses to COVID-19Amirarsalan Rajabi, Alexander Mantzaris, Ece Mutlu and Ivan Garibay: Investigating dynamics of COVID-19 spread and containment with agent-based modelingYoungsun Hwang, Joseph Immormino and Glenn-Iain Steinback: Purchasing Power to the People: An Agent-Based Simulation of Pandemic Economic RecoveryJacob Kelter, Andreas Bugler and Uri Wilensky: Agent-based models of Quadratic VotingBrian Tivnan, Carl Burke, Matthew Koehler, Matthew Mcmahon And Jason Veneman: Towards a model of the national market system: fragmented and heterogenous venuesHanin Alhaddad, Nisha Baral and Ivan Garibay: Online Rejection Influence on Behavior Deviancy and Radicalization: An Agent-Based Model ApproachNarjes Sadeghiamirshahidi, Anuj Mittal and Caroline Krejci: An agent-based model of digitally-mediated farmer transportation collaborationGraham Sack: Geometries of Desire: Simulating Rene Girard’s Mimetic TheoryMehdi Moghadam Manesh, Saeed Langarudi and Birgit Kopainsky: Can Institutionalization Prevent the Depletion of Groundwater Resources?

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Book SynopsisThis book unifies and extends the definition and measurement of economic efficiency and its use as a real-life benchmarking technique for actual organizations. Analytically, the book relies on the economic theory of duality as guiding framework. Empirically, it shows how the alternative models can be implemented by way of Data Envelopment Analysis. An accompanying software programmed in the open-source Julia language is used to solve the models. The package is a self-contained set of functions that can be used for individual learning and instruction. The source code, associated documentation, and replication notebooks are available online. The book discusses the concept of economic efficiency at the firm level, comparing observed to optimal economic performance, and its decomposition according to technical and allocative criteria. Depending on the underlying technical efficiency measure, economic efficiency can be decomposed multiplicatively or additively. Part I of the book deals with the classic multiplicative approach that decomposes cost and revenue efficiency based on radial distance functions. Subsequently, the book examines how these partial approaches can be expanded to the notion of profitability efficiency, considering both the input and output dimensions of the firm, and relying on the generalized distance function for the measurement of technical efficiency. Part II is devoted to the recent additive framework related to the decomposition of economic inefficiency defined in terms of cost, revenue, and profit. The book presents economic models for the Russell and enhanced graph Russell measures, the weighted additive distance function, the directional distance function, the modified directional distance function, and the Hölder distance function. Each model is presented in a separate chapter. New approaches that qualify and generalize previous results are also introduced in the last chapters, including the reverse directional distance function and the general direct approach. The book concludes by highlighting the importance of benchmarking economic efficiency for all business stakeholders and recalling the main conclusions obtained from many years of research on this topic. The book offers different alternatives to measure economic efficiency based on a set of desirable properties and advises on the choice of specific economic efficiency models.Table of ContentsChapter 1: Introduction.- Chapter 2: Conceptual background: firms’ objectives, decision variables and economic efficiency.- Part I.- Chapter 3: Shephard’s input and output distance functions: cost and revenue efficiency decompositions.- Chapter 4: The generalized distance function (GDF): Profitability efficiency decomposition.- Part II.- Chapter 5: The Russell Measures: Economic Inefficiency Decompositions.- Chapter 6: The Weighted Additive Distance Function (WADF): Economic inefficiency decompositions.- Chapter 7: The enhanced Russell graph measure (ERG=SBM): economic inefficiency decompositions.- Chapter 8: The directional distance function (DDF): economic inefficiency decompositions.- Chapter 9: The Hölder distance functions: economic inefficiency decompositions.- Chapter 10: The loss distance function: economic inefficiency decompositions.- Chapter 11: The modified directional distance function (MDDF): economic inefficiency decompositions.- Chapter 12: The reverse directional distance function (RDDF): economic inefficiency decompositions.- Chapter 13: A unifying framework for decomposing economic inefficiency: The general direct approach and the standard and flexible reverse approaches.- Chapter 14: A final overview: economic efficency models and properties.- Bibliography.- Subject Index.- Author Index.

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Book SynopsisThis book presents the 2020 Digital Platform Economy Index (DPE Index). The DPE Index integrates two separate but related literatures on ecosystems, namely, the digital ecosystem and the entrepreneurial ecosystem. This new framework situates digital entrepreneurship within the broader context of users, platforms, and institutions, such that two biotic entities (users and agents) actuate individual agency, and two abiotic components (digital infrastructure and digital platforms) form the external environment. The DPE Index framework includes 12 pillars that integrate the digital and the entrepreneurship ecosystems. Here, the authors report on the DPE Index, the four sub-indices, and the 12 pillar values for 116 countries as well as provide a cluster analysis based on the 12 pillars.Table of ContentsChapter 1. Introduction.- Chapter 2. The concept of the platform-based ecosystem: The digital platform economy.- Chapter 3. From concept to measurement: The 12 pillars and their measurement.- Chapter 4. The Digital Platform Economy Index: Country rankings and clustering.- Chapter 5. Improving the digital platform economy: Policy suggestions.- Chapter 6. Summary and conclusion.

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Book SynopsisThis book is an applications-oriented text designed for individuals who desire a hands-on approach to analyzing the effects of fiscal and monetary policies. Significantly updated for the fourth edition, the text provides an understanding of the global economy in the wake of the COVID crisis, discussing topics such as pandemic related supply and demand-side shocks, the role of Modern Monetary Theory (MMT) in financing COVID rescue plans, the effect of the US, India, Eurozone and China’s post-COVID economies on emerging and transitioning economies, and the resurgence of inflation. This edition includes deeper coverage on the issue of budget deficit sustainability and on trade wars, especially in a global context, and revisits the life cycles of speculative asset price (SAP) bubbles, especially in the housing markets and in SPACs. The fourth edition contains several brand-new cases and media articles that are carefully positioned to relate explicitly to theory, and to look ahead to and preempt global macro situations and polices in the years to come. MBA students and Executive MBA students who appreciate the importance of monetary and fiscal analysis will find this text to be right on target. Financial analysts and individual investors who need to strip away economic myths and jargon and systematically examine and understand the effects of macro policies on variables such as inflation, output, employment and interest rates, will also find the book extremely useful.Table of ContentsChapter 1. Introduction and Overview of the Fourth Edition.- Chapter 2. National Income Accounts.- Chapter 3. Budget Deficits, Trade Deficits and Global Capital Flows: The National Savings Identity.- Chapter 4. Aggregate Demand: Setting the Stage for Demand-Side Stabilization.- Chapter 5. Demand-Side Stabilization: Overheating, Hard Landing, and Everything in Between.- Chapter 6. Long-Term Interest Rates, the Yield Curve, and Hyperinflation.- Chapter 7. ISLM: The Engine Room.- Chapter 8. The Classical Model.- Chapter 9. The Keynesian Model.- Chapter 10. The Supply-Side Model and the New Economy.- Chapter 11. After Covid: MMT and other Major Global Macropolicy Issues.- Chapter 12. Central Banks and Monetary Policy.

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Book SynopsisThis book presents different topics related to innovation, complexity, uncertainty, modeling and simulation, fuzzy logic, decision-making, aggregation operators, business and economic applications, among others. The chapters are the results of research presented at the International Workshop "Innovation, Complexity and Uncertainty in Economics and Business", held in Barcelona, in November 2019, by The Ibero-American Network for Competitiveness, Innovation and Development (REDCID in Spanish) and the Royal Academy of Economic and Financial Sciences (RACEF in Spanish). These papers are useful for junior and senior researchers in the area of economics and business.Table of ContentsUncertainty characterizations, typologies and related notions in times of changeCynthia M. Montaudon-Tomas; Ingrid N. Pinto-López Mexico and the challenges of achieving the 2030 Sustainable Development Goals Ingrid N. Pinto-López; Cynthia M. Montaudon-Tomas; Anna M. Gil-Lafuente Leadership and employees’ satisfaction in contemporary organizations Montserrat Crespi-Vallbona; Xavier Llopart Perez; Sefa Boria-Reverter; Oscar Mascarilla-Miró Design of an Employer Branding model Mª Luisa Rayón; Marina Romeo; Montserrat Yepes-Baldó; Sefa Boria-Reverter Investment evaluation proposal with fuzzy tools. Case Molecular Immunology Center Onailis Oramas Santos; Lourdes Souto Anido; Maritza Ortiz Torres Performance Evaluation Procedure based on Fuzzy Mathematics and OWA Operators. Lourdes Souto Anido The fit between corporate entrepreneurship and innovation in the organizational performance through SHRM Montserrat Salvans Blanch; Anna M. Gil-Lafuente; M. Luisa Sole Moro; Sefa Boria Reverter Procedure for the selection of international markets. Application in the Cement Business Group of Cuba Irene García Rondón; Alicia Vitale Alfonso; Zamir Cobas Customer satisfaction at the Roc Presidente Hotel Thais Zamora Molina; Dr. José Manuel Pozo Rodríguez; Omar Marrero Salgueiro The Internationalization in The Learning of The Accounting Profession. Use of The Kahoot As A Teaching Tool for Learning M. Pilar Curós Vilá; Elisa Isabel Cano Montero; Julián Chamizo González; Jordi Martí Pidelaserra An input of fuzzy logic to sustainable tourism: a case from Brazil Luciano Barcellos de Paula; Anna María Gil-Lafuente; Daniela F. Alvares A bibliometric study of key journals in corporate social responsibility Verónica Pizarro; José M. Merigó; Leslier Valenzuela; Sebastián Aciares A bibliometric review of decision models in uncertainty between 1990 and 2018 Luciano Barcellos de Paula; Iván de La Vega; Anna M. Gil-Lafuente Data Driven Business Model: A Strategy for Transparency in the Sharing Economy. A bibliometric overview Carolina Luis Bassa; Thibisay González Rodríguez Application of the Forgotten Effects Theory to the Qualitative Analysis of the Operational Risk Events Agustín Torres Martínez; Anna María Gil Lafuente; Aras Keropyan; José M. Merigó Lindahl Business Informality: An Application of the Forgotten Effects Model Marlene Rocío Moscoso Quiceno; Sonia Elena Godoy Hortua Adaptation of grocery stores to the post-COVID-19 environment. The case of Barcelona Emili Vizuete-Luciano; Sefa Boria-Reverter; Maria Luisa Solé-Moro; Anna Maria Gil-Lafuente

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Book SynopsisThis book aims to contribute to the discussion about the implications of fuzzy logic, neural networks, digital era, and other intelligent techniques on organizations. This book will be very useful for academic researchers and postgraduate students aiming to introduce themselves to the field of quantitative techniques for overcoming uncertain environments and developing models to make decisions. Developments in other theories and socioeconomic and computational changes have shed light on the importance of fuzzy applications in social sciences. The treatment of uncertainty in the economic and business analysis is fundamental and requires instruments compatible with the uncertain environment of economics and business, because most of the traditional models have been overtaken by this reality when trying to make decisions with uncertain information. In the face of information technology, digitization, and uncertainty, organizations confront new opportunities and challenges. In order to take advantage of these opportunities and overcome current and future challenges, it is needed to understand the evolution of these phenomenon.Table of ContentsWavelet entropy and complexity analysis of cryptocurrencies dynamics.- The Use of Fuzzy Decoupled Net Present Value in pepper production.- The effect of energy prices on Mexican households’ consumption.- How to Cope with Complexity in Decision-Making: an Application of Fuzzy Qualitative Comparative Analysis in the Triage Process.- ESG risk disclosure and earning timelines in the Mexican capital market using fuzzy logic regression.- The Digital Taxation Adoption and its Impact on Income Tax in Mexico (2010-2020).

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Book SynopsisInspired by his lectures on rhetoric and by game theory, this book provides a new interpretation of Adam Smith’s system of thought. It highlights its coherence through the identification of three reasoning routines and a meta-reasoning routine throughout his work on languages, rhetoric, moral sentiments, self-command, and the nature and causes of the wealth of nations. The identification of these reasoning routines allows the authors to uncover a hitherto poorly understood deep structure of Smith’s work and to explain its main characteristics. How these routines emerged in Smith’s early research on the principles of the human mind is also traced. This book sheds new light on Adam Smith and his work, highlighting his sophisticated understanding of strategic interaction in all things rhetorical, moral, and economic. It will be relevant to students and researchers interested in the history of ideas, the history of economic thought, game theory, Enlightenment studies, and rhetoric.Trade Review“This collection of essays offers an interpretation of Smith’s thought that is particularly informed by Smith’s conception of rhetoric and by game theory. It is undoubtedly the claim to show that Smith’s social science is better and more clearly understood via the vehicle of game theory that will attract attention … . it is highly commendable for its extensive documentation of, and close engagement with, much extant Smith scholarship … .” (Tony Aspromourgos, Journal of the History of Economic Thought, May 8, 2023)Table of ContentsIntroduction.- Chapter 1: Schumpeter’s Assessment of Adam Smith and The Wealth of Nations: Why He Got It Wrong.- Chapter 2: Adam Smith's Rhetorical Strategy in The Wealth of Nations, against the Commercial System of Great Britain.- Chapter 3: The Nature and Causes of Corporate Negligence, Sham Lectures, and Ecclesiastical Indolence: Adam Smith on Joint-Stock Companies, Teachers, and Preachers.- Chapter 4: Self-Command in Adam Smith's Theory of Moral Sentiments. A Game-Theoretic Reinterpretation_Chapter 5: A Game-theoretic Re-evaluation of Adam Smith's Wealth of Nations.- Chapter 6: Adam Smith’s economics and the Lectures on Rhetoric and Belles Lettres: the language of commerce.- Chapter 7: Adam Smith's Reasoning Routines, The Deep Structure of His Oeuvre, and Why It Turned out the Way It Did.- Chapter 8: Open questions.

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Book SynopsisThe University of Chicago has been and continues to be one of the most important global centres for economics. With six chapters on themes in Chicago economics and 33 chapters on the lives and work of Chicago economists, this volume shows how economics became established at the University, how it produced some of the world’s best-known economists, including Frank Knight, Milton Friedman and Robert Lucas, and how it remains a global force for the very best in teaching and research in economics. With original contributions from a stellar cast, this volume provides economists – especially those interested in macroeconomics and the history of economic thought – with an in-depth analysis of Chicago economics.Table of ContentsPart I: Themes in Chicago Economics.- 1: The Department of Economics at the University of Chicago, 1947–1982.- 2: Economic History in Departments of Economics: The Case of the University of Chicago, 1892 to the Present.- 3: International Economics at Chicago.- 4: Chicago Political Economy, and Its Virginia Cousin.- 5: The Cowles Commission at the University of Chicago, 1939–1955.- 6: Information at Chicago.- Part II: Some Chicago Economists.- 7: James Laurence Laughlin (1850-1933).- 8: Thorstein Veblen (1857-1929).-9: Frank H. Knight (1885-1972).- 10: Lloyd W. Mints (1888-1989).- 11: Paul H. Douglas (1892-1976).- 12: Jacob Viner (1892-1970).- 13: Henry Schultz (1893-1938).-14: Margaret Gilpin Reid (1896-1991).- 15: Henry Calvert Simons (1899-1946).- 16: Aaron Director (1901-2004).- 17: Theodore W. Schultz (1902-1998).- 18: Mary Jean Bowman (1908-2002). 19: George J. Stigler (1911-1991).- 20: Milton Friedman (1912-2006).- 21: Lloyd A. Metzler (1913-1980).- 22: Berthold F. Hoselitz (1913-1995).- 23: H. Gregg Lewis (1914-1992).- 24: D. Gale Johnson (1916-2003).- 25: Albert E. Rees (1921-1992).- 26: Merton H. Miller (1923-2000).- 27: Harry G. Johnson (1923-1977).- 28: Arnold C. Harberger (1924-).- 29: George S. Tolley (1925-2021).- 30: Robert W. Fogel (1926-2013).- 31: Arnold Zellner (1927-2010).- 32: Gary S. Becker (1930-2014).- 33: Robert E. Lucas, Jr. (1937-).- 34: Sherwin Rosen (1938-2001).- 35: Richard A. Posner (1939-). 36: Eugene F. Fama (1939-).- 37: James J. Heckman (1944-).- 38: Richard Thaler (1945-). 39: Lars Peter Hansen (1952-).

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Book SynopsisThis book provides a practical introduction to mathematics for economics using R software. Using R as a basis, this book guides the reader through foundational topics in linear algebra, calculus, and optimization. The book is organized in order of increasing difficulty, beginning with a rudimentary introduction to R and progressing through exercises that require the reader to code their own functions in R. All chapters include applications for topics in economics and econometrics. As fully reproducible book, this volume gives readers the opportunity to learn by doing and develop research skills as they go. As such, it is appropriate for students in economics and econometrics.Table of Contents1. Introduction to R.- 2. Linear Algebra.- 3. Functions of one variable.- 4. Dierential Calculus.- 5. Integral Calculus.- 6. Multivariable Calculus.- 7. Constrained Optimization.- 8. Trigonometry.- 9. Complex numbers.- 10. Difference equations.- 11. Differential equations.

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Book SynopsisThis book explores the early work and activities of Joan Robinson that focused on economic development within underdeveloped countries, in particular India before independence. By analysing the style of Robinson’s thinking and economic analysis, and based on the works of Indian contemporaries, parts of The British Crown and the Indian States previously unattributed to her are seen to exhibit her preoccupation with poverty, backwardness, unemployment, the population problem, international trade, and the role of the state. Through keeping in mind Robinson’s later work, the development of her ideas can be reflected upon, alongside critical perspectives. It also reveals the beginnings of her role as a public intellectual. This book aims to shed new light on Joan Robinson’s work on development and to provide insight to an overlooked part of her research. It will be relevant to students and researchers interested in the history of economic thought, development economics and economic history.Table of ContentsPart I. In the Land of Princes.- 1. An Unseemly Memsaab.- 2. A Tale of Two Robinsons.- 3. Discovering a Book.- 4. Austin Carries the Day.- Part II. Thinking Development: Then and Later.- 5. Precolonial Underdevelopment.- 6. Colonial Development.- 7. Is There a Common Thread?.- Part III. Transfer of Resources from Princely India to British India.- 8. Net Resource Outflow.- 9. Liabilities of the States.- 10. Revenue Contributions.- Part IV. The Drain, Backwardness and the State.- 11. The Drain and Backwardness.- 12. Role of the State.

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Book SynopsisEvery society aspires to be prosperous. It also endeavors to minimize the side effects of economic growth. This book entitled The Economics of Optimal Growth Pathways addresses numerous trade-offs faced by society to achieve prosperity and explores the best possible growth pathways. The theories explored in this book serve as a springboard to better understand key challenges and aspects of the economy, including food security, land use, forest and resource management, capital markets and interest rates, oil and gas extraction, fish and marine resources, saving and investment, and climate change.This book elucidates the concept of optimal economic growth pathways while addressing the challenges faced in natural resources and life on the planet. It will be relevant to students and researchers interested in resource and environmental economics.Table of ContentsChapter 1 An Introduction to the Economics of Optimal Growth PathwaysChapter 2 Ricardo’s RentChapter 3 Von Thunen’s Spatial Land Use: Grasslands and CitiesChapter 4 Faustmann’s Forest Harvest RotationChapter 5 Hotelling’s Fossil Fuel EconomicsChapter 6 Fisheries Bioeconomics under Open AccessChapter 7 Irving Fisher’s Capital and InterestChapter 8 Frank Ramsey’s Optimal SavingsChapter 9 Robert Solow’s Modern Economic GrowthChapter 10 Tjalling Koopmans’s Optimal Economic GrowthChapter 11 William Nordhaus’s Optimal Carbon Tax TrajectoryChapter 12 The Economics of Optimal Growth Pathways with Managing Natural ResourcesChapter 13 Tendencies for Sub-optimal or Post-growth Pathways

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Book SynopsisThis book continues the ongoing debate about the need for alternative, interdisciplinary and heterodox approaches to teaching economics at university. It deals with challenges currently faced by economists, pursues an interdisciplinary approach to enhance collaboration with academics from disciplines other than economics, and analyses several questions and issues related to the 2007-08 financial crisis and the current Covid-19 emergency. The Covid pandemic has shown the flaws of the current neoliberal model and the inability of mainstream economic theory to address the problems created by the pandemic. The book engages with an academic audience interested in incorporating a wider range of economic approaches in their research and teaching, and with undergraduate and postgraduate economics students who are trying to understand the limitations of their current economics syllabi. The novelty of the book is the active involvement of undergraduate and postgraduate students who contribute to this volume with three chapters. The book will be of interest to a wide range of researchers, students and teachers interested in interdisciplinary and heterodox economics.Table of Contents1. Introduction: the financial crisis, the Covid pandemic and the future of economics. By Abdullah Yusuf, Carlo Morelli and Omar Feraboli, University of Dundee.- 2. COVID-19 and the Future of Higher Education. By Abdullah Yusuf, University of Dundee, Mehdi Chowdhury, Bournemouth University, and Ian Roache, University of Dundee.- 3. Assessing the education needs of the Rohingya refugees and the impacts of COVID-19. By Roberta Dumitriu, University of Dundee.- 4. COVID-19 and economic development in sub-Saharan Africa: has the pandemic taught us anything we didn't already know?. By Kevin Deane, Julia Chukwuma and Lorena Lombardozzi, Open University.- 5. Covid 19: A comparison of equality-promoting policy-responses related to education across Europe. By Daniela Tavasci and Luigi Ventimiglia, Queen Mary University of London.- 6. What is opportunity cost?. By Martin Jones, University of Dundee.- 7. Labour Rights, Full Employment, and a Dynamic Market Economy. By Morris Altman, University of Dundee.- 8. An Analysis on the State of Economics Education in Scottish Universities. By Louis Bryson, University of Dundee.- 9. Experiences and Reflections on being taught undergraduate economics. By Emma Madill, Stoyanka Stoimenova, Louis Bryson, University of Dundee.- 10. Post-Crash Economics: What are the implications of the 2007 crisis for the teaching of economics?. By Omar Feraboli, University of Dundee.

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Book SynopsisA new era is emerging in which a group of quantitative methods featuring characteristics of multidimensional comparative analysis (MCA) and multi-criteria decision-making analysis (MCDA) can be used to automate objective decision-making processes. This book introduces the character of the criteria (desirable, non-desirable, motivating, demotivating, and neutral) to MCDA and MCA methods. It presents the author’s own developed methods, the preference vector method (PVM), for solving multi-criteria problems in decision making; and, vector measure construction method (VMCM), which is dedicated to solving typical problems in the field of multidimensional comparative analysis. All methods are explained step by step with relevant examples, primarily in the fields of economics and management.Table of ContentsChapter 1 Introduction.- Chapter 2 Problems of multi-criteria and multidimensionality in decision support.- Part I: Methods of multidimensional comparative analysis.- Chapter 3 Initial data analysis procedure.- Chapter 4 Methods for building aggregate measures.- Part II: Multi-criteria decision support methods.- Chapter 5 Methods based on the outranking relationship.- Chapter 6 Methods based on the utility function.- Chapter 7 Multi-criteria methods using function points.- Chapter 8 Conclusions.

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Book SynopsisDid you know that Bach invested in mines? That Rossini improved his income by running casinos in the opera houses which on weekends performed his operas? Or that Puccini composed shorter arias to make them fit the length of gramophone disks as they reported him huge revenues? Or who was, in financial terms, the most successful classical composer in history? This book —the first of its kind— studies and compares the finances of twenty classical composers in their historical and economical context. Each chapter details and quantifies the sources of income of these musicians (wages, royalties, subsidies, percentages over the number of performances, arrangements, investments in the musical sector, etc), thus allowing to estimate the income they obtained due to their artistic — primarily compositional, but also related— activities. In addition, it also estimates the composer’s expenditures, thus drawing a relatively complete image of their personal finances. This not only allows to conclude to create a ranking of composers according to their economic success, but —more importantly— for the first time gives an accurate image of the financial situation of a broad set of composers. This allows to correct many false believes while also giving new insights on the relation between economics and music history.Table of ContentsIntroduction: On the Economics of Music and the Finances of Great Composers.- Johann Sebastian Bach and Georg Friedrich Händel: The Economics of Late Baroque Market for Music.- Joseph Haydn and Wolfgang Amadeus Mozart: A Collusive Friendship.- Ludwig van Beethoven and Franz Schubert: The Economic Conscious- and Unconsciousness of the Artist.- Gioachino Rossini and Gaetano Donizetti: The Economics of Belcanto I.- Vincenzo Bellini and Giacomo Meyerbeer: The Economics of Belcanto II.- Felix Mendelssohn-Bartoldy and Robert Schumann: Parallel Lives, Liberal Delusions.

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Book SynopsisThis third edition maintains the structure of the second, dividing the content into three separate parts dedicated to representative agent models, heterogeneous agent models, and numerical methods.

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Book SynopsisThis textbook offers a practical and engaging introduction to spatial econometric modelling, detailing the key models, methodologies and tools required to successfully apply a spatial approach. The second edition contains new methodological developments, new references and new software routines in R that have emerged since the first edition published in 2014. It also extends practical applications with the use of the software STATA and of the programming language Python. The first software is used increasingly by many economists, applied econometricians and social scientists while the software Python is becoming the elective choice in many scientific applications. With new statistical appendices in R, STATA and Python, as well as worked examples, learning questions, exercises and technical definitions, this is a significantly expanded second edition that will be a valuable resource for advanced students of econometrics.

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Book SynopsisThis accessible and engaging textbook provides an introduction to the equations that have defined economics and shaped the global economy. It not only presents the ideas, concepts, and applications that underpin these equations, but also places them within their broader social and historical contexts. Simple mathematical examples and illustrations of the real-world application of the equations are combined with an overview of the implications to give a complete understanding of the power and importance of each equation. It will be relevant to economics students wishing to broaden their understanding of mathematics, mathematical economics, applied economics, and the history of economic thought.

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Book SynopsisChapter1: Second Price Auctions.- Chapter2:First Price Auctions.- Chapter3: First Price Auctions Extensions.- Chapter4: All Pay Auctions and Auctions with Asymmetrically InformedBidders.- Chapter5: Third Price Auctions kth Price Auctions and Lotteries.- Chapter6: The Revenue Equivalence Principle.- Chapter7: Common Value Auctions.- Chapter8: Multi Unit Auctions.- Chapter9: Mechanism Design.- Chapter10: Procurement Auctions.

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Book Synopsis1 Descartes’ Analytic Geometry.- 1.1 Lines.- 1.2 Quadratic Equations.- 1.3 Lines and Circles.- 1.4 Hyperbole.- 1.5 Parabola.- 1.6 Long Division of Polynomials and Horner’s Rule.- 1.7 Roots of Polynomials.- 1.8 Tangents to Polynomial Curves.- 1.9 Derivatives of Polynomials.- 1.10 Polynomial and Rational Curves.- 1.11 Descartes’ Rule of Signs.- 1.12 Tangents to the graphs of inverse and implicit functions.- 2 Functions and Graphs.- 2.1 Functions.- 2.2 Graphs.- 2.3 Implicit Functions.- 2.4 An Application of Conic Sections.- 2.5 Exponents and Logarithms.- 2.6 Cobb-Douglas Functions.- 2.7 Inverse Functions.- 2.8 Trigonometric Functions.- 2.9 Inverse Trigonometric Functions.- 3 Limits and Continuity: The " ?? _ Method of Weierstrass.- 3.1 Instantaneous Rate of Change.- 3.2 Limits and Infinity.- 3.3 The Limit of a Sequence and Real Numbers.- 3.4 Continuous Functions.- 3.5 Demand and Supply Functions.- 3.6 Newton’s Method.- 3.7 Continuity of Implicit Functions.- 3.8 Classification of Points of Discontinuity.- 3.9 Three Theorems on Limits.- 3.10 Financial Mathematics and Euler’s number e = 2:71828.- 3.11 Remarkable Limits.- 4 Newton’s Method of Fluxions.- 4.1 Basic Rules.- 4.2 Derivatives of Inverse Functions.- 4.3 Tangents and Normals.- 4.4 Linearization and Leibniz Differentials.- 4.5 Related Rates.- 4.6 Rolle’s Theorem.- 4.7 Lagrange’s Theorem.- 4.8 Darboux’ Theorem.- 4.9 Critical Points.- 4.10 Concavity and Inflection Points.- 4.11 The Shape of a Graph.- 4.12 The Shapes of Implicit Functions Graphs.- 4.13 Cost Function, Revenue, Profit.- 4.14 Lorenz Curves.- 4.15 Elasticity.- 4.16 L’Hospital’s Rule.- 4.17 Taylor’s Formula.- 5 Arithmetica Infinitorum: Wallis’ Theory.- 5.1 Areas below Graphs of Monotonic Functions.- 5.2 Areas below Parabolas and Hyperbolas.- 5.3 Areas below Exponentials and Logarithms.- 5.4 Riemann’s Theory.- 5.5 Cavalieri’s Principle.- 5.6 The Rectangle Rules.- 5.7 The Trapezoidal Rule.- 5.8 The Newton-Leibniz Formula.- 5.9 Wallis’ Infinite Product.- 5.10 Brouncker’s Continued Fraction.- 5.11 Evaluation of _ and Brouncker’s Continued Fraction.- 5.12 Lorenz Curves: Robin Hood and Gini Indexes.- 5.13 Consumer’s Surplus.- 5.14 Some Problems in Arithmetica Infinitorum.- 6 Antiderivatives and Indefinite Integrals: Newton’s Theory.- 6.1 Integration Rules.- 6.2 Integration by Parts.- 6.3 Partial Fractions.- 6.4 Trigonometric Integrals.- 6.5 Implicit Functions.- 6.6 Substitutions in Definite Intgrals.- 6.7 Areas between Curves.- 6.8 The Disk Method.- 6.9 The Washer Method.- 6.10 The Shell Method.- 6.11 Elasticity.- 6.12 Applications.- 7 Euler’s Theory of Differential Equations.- 7.1 Graphical Solution of Differential Equations.- 7.2 The Isochrone of Leibniz and Perrault’s Tractrix.- 7.3 Analytic Methods.- 7.4 Integrating Factors.- 7.5 Picard’s Iterative Method.- 7.6 Numerical Solutions: Euler’s Method.- 7.7 Exponential Decay.- 7.8 Bounded Growth.- 7.9 Unbounded and Logistic Growth.- 7.10 Subtangent, Logarithmic Convexity, and Elasticity of Demand.- 7.11 The Solow-Swan growth model.- 8 Optimization.- 8.1 Level Curves and Gradients.- 8.2 General Methods of Optimization.- 8.3 Classification of Critical Points.- 8.4 The Hessian’s Method.- 8.5 Classical Surfaces and their Critical Points.- 8.6 Constraint Optimization.- References.- Index.

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Book Synopsis1: Introduction.- 2: Plato and Aristotle on Work.- 3: The Greeks Cynics on Work and Wealth.- 4. Work in the New Testament.- 5: Aquinas on Work.- 6: Luther on Vocation.- 7: Francis Bacon: Science Relieving the Burden of Labor.- 8. Locke: Ownership from Labor.- 9: Adam Smith and the Division of Labor.- 10: Hegel on Work’s Two-Sidedness.- 11: Tocqueville.- 12: Marx’s Theory of Work.- 13: Kierkegaard on the Laborer.- 14: Durkheim on Anomie.- 15:Giovanni Gentile on the Humanism of Labor, Spartaco Pupo.- 16: Weber’s Work Ethic.- 17: Mises: The Disutility of Labor.- 18: Hannah Arendt on Homo Faber and the Fragility of Human Action.- 19: The Woman’s Soul as “Shelter”: Edith Stein on the Work of Women.- 20: Michael Oakeshott on “The Deadliness of Doing”.- 21: Leisure and Work in Josef Pieper’s Philosophy of Human Nature and Culture of Public Service.- 22: Work in New Natural Law Theory.- 23: Work and Its Discontents: Geuss and Graber, Gülsen Seven.

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Book SynopsisThis book contains invited essays in memory of Leonid Hurwicz spanning a large area of economic, social and other sciences where the implementation or enforcement of institutions and rules requires the design of effective mechanisms. The foundations of these articles are set by social choice concepts; game theory; Nash, Bayesian and Walrasian equilibria; complete and incomplete information. Besides in-depth treatments of well-established parts of mechanism and implementation theory, contributions on novel directions deal, for instance, with a quantum approach to game and decision making under uncertainty; digitalization; and the design of block chain for trading. The outstanding competence and reputation of the authors reflect the appreciation of the fundamental contributions and the lasting admiration of the personality and the work of Leonid Hurwicz.Table of ContentsHervé Moulin: Foreword.- Walter Trockel: In Lieu of an Introduction: How I Remember Leonid Hurwicz.- Part I: Institution Design: Thomas Marschak and Dong Wei: Technical Change and the Decentralization Penalty.- Roger B. Myerson: Fundamental Theory of Institutions: a Lecture in Honor of Leo Hurwicz.- Andrew Postlewaite and David Schmeidler: The Hurwicz Program, Past and Suggestions for the Future.- Fernando Vega-Redondo: Social Networks from a Designer's Viewpoint.- Part II: Design Under Uncertainties: Claude d' Aspremont and Jacques Crémer: Some Remarks on Bayesian Mechanism Design.- Leonid Hurwicz, Eric Maskin and Andrew Postelwaite: Feasible Nash Implementation of Social Choice Rules When the Designer Does Not Know Endowments.- John O. Ledyard: Design of Tradable Permit Programs Under Imprecise Measurement.- Tatsuyoshi Saijo: Second Thoughts of Social Dilemma in Mechanism Design.- Part III: Markets: Peter J. Hammond: Allocation Mechanisms, Incentives, and Endemic Institutional Externalities.- Yakar Kannai and Roberto C. Raimondo: The Role of (quasi) Analyticity in Establishing Completeness of Financial Markets Equilibria.- Matthew Van Essen and Mark Walker: Are We There Yet? Mechanism Design Beyond Equilibrium.- Part IV: Rules: Souvik Roy, Soumyarup Sadhukhan and Arunava Sen: Formation of Committees Through Random Voting Rules.- William Thomson: Equal Area Rule to Adjudicate Conflicting Claims.- Part V: Implementation: Bhaskar Dutta: Recent Results on Implementation with Complete Information.- Paul H. Edelman and John A. Weymark: Unrestricted Domain Extensions of Dominant Strategy Implementable Allocation Functions.- Bezalel Peleg and Hans Peters: Self-Implementation of Social Choice Correspondences in Strong Equilibrium.- Part VI: New Directions in Design: Salvador Barberà, Dolors Berga and Bernardo Moreno: Domains Admitting ex post Incentive Compatible and Respectful Mechanisms: a Characterization for the Two Alternatives Case.- Gabrielle Demange: Mechanisms in a Digitalized World.- Jonathan Chiu and Thorsten Koeppl: Incentive Compatibility on the Blockchain.- Pierfrancesco La Mura: Contextual Mechanism Design.

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Book SynopsisThis book represents one of the cornerstones of the series Studies in Neuroscience, Psychology and Behavioral Economics. It is divided into eight sections, starting with an introduction to neuroeconomics followed by an overview of frequently applied experimental paradigms (games) in neuroeconomics research. Furthermore, it addresses the molecular basis of human decision making, environmental/situational factors and social contexts influencing human decision making, as well as translational and developmental/clinical approaches to neuroeconomics. In closing, a paper on neuro-marketing demonstrates how knowledge from neuroeconomics research can be applied in “real life.” Culminating in an extensive methods section, in which eight different neuroscience techniques are introduced, the book offers an essential resource for researchers and practitioners, and may also be beneficial for graduate students.Table of ContentsIntroduction into the Field of Neuroeconomics.- Historical Aspects of Neuroeconomics.- Game Theory and Human Decision Making.- Paradigms in Neuroeconomics.- Human Decision Making and the Brain: Structure and Functionality of the Central Nervous System.- Methods in Neuroeconomics.- Hormones.- Genetics.- Empirical Findings in Neuroeconomics – State of the Art.- Loss Aversion.- Trust.- Risk.- Impulsivity.- Dictator game.- Ultimatum Game.- Third Party Punishment.- Decision Making under Ambiguity.- Altruism.- Pathological Decision Making.

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