Microeconomics Books
WorldView Publications Standardising Development: Influences on UK NGOs'
Book Synopsis
£14.20
Walter de Gruyter Energiewirtschaft: Einführung in Theorie Und Politik
£34.67
Walter de Gruyter Die Wirtschaft: Volkswirtschaftslehre Für Eine
Book Synopsis
£40.46
JCB Mohr (Paul Siebeck) Einführung in die Betriebswirtschaftslehre aus
Book SynopsisDie Überarbeitung für die 10. Auflage umfasst neben der üblichen Pflege von Daten, Fakten und Literaturhinweisen eine Überarbeitung der Abschnitte über die Transaktionskostenökonomik, die Corporate Social Responsibility, den Informationsgehalt des Jahresabschlusses sowie der Spieltheorie. Die Serviceteile erfuhren eine fühlbare Ausweitung."Die Einführung in die Betriebswirtschaftslehre von Werner Neus ist eine Einführung, die den Namen verdient. Sie erweitert die Perspektive betriebswirtschaftlicher Einführungsliteratur um wesentliche mikroökonomische Perspektiven und bettet wichtige betriebswirtschaftliche Phänomene […] in einen theoretisch fundierten und nachvollziehbar hergeleiteten Kontext ein."Michael Heiling in Wirtschaft und Gesellschaft, 42. Jahrgang (2016), Heft 2, S. 367-370"Alles in allem ein bemerkenswertes Lehrbuch, das ein ganz neues Licht auf die BWL wirft." Studium 2009/10, Ausgabe 85, S. 6Die Lösungen zu den Übungsaufgaben finden Sie unter: online.mohr.de/elib.
£27.55
Bohlau Verlag Musiktheater Und Kommerz: Untersuchungen Zum
Book Synopsis
£68.39
Books on Demand Digital und Social Selling: Was wir über Social Networks und den digitalen Verkauf wissen müssen
£18.80
Duncker & Humblot Entscheidungs- Und Spieltheorie: Eine
Book Synopsis
£26.91
John Wiley & Sons Fighting Poverty With Microcredit Experience In Ba
a huge range and FREE tracked UK delivery on ALL orders.
£36.05
The University of Chicago Press Gods Plagiarist Being an Account of the Fabulous
Book SynopsisThis text provides an account of the abbe Jacques-Paul Migne, a 19th-century entrepreneur. Characterized by the police as one of the century's great schemers, his marketing of the massive editions of the Church Fathers placed him at the forefront of France's publishing industry.Table of ContentsAcknowledgments 1: The Abbe and the Police 2: Plagiarism and the Press 3: Advertisements for the Self 4: Piracy and Patrology 5: Migne and Money Conclusion: Le Bon Marche and the Ateliers Catholiques Notes Index of Names Subject Index
£76.00
The University of Chicago Press Gods Plagiarist Being an Account of the Fabulous
Book SynopsisThis is an account of Jacques-Paul Migne, an entrepreneur of the 19th century. A priest in Orleans from 1824 to 1833, Migne then moved to Paris, where, in the space of a decade, he built one of the most extensive publishing ventures of all time. This text records his success.
£23.00
The University of Chicago Press The American Business Cycle Continuity and Change
Book SynopsisIn recent decades the American economy has experienced the worst peace-time inflation in its history and the highest unemployment rate since the Great Depression. Thesecircumstances have prompted renewed interest in the concept of business cycles, which Joseph Schumpeter suggested are like the beat of the heart, of the essence of the organism that displays them. In The American Business Cycle, some of the most prominent macroeconomics in the United States focuses on the questions, To what extent are business cycles propelled by external shocks? How have post-1946 cycles differed from earlier cycles? And, what are the major factors that contribute to business cycles? They extend their investigation in some areas as far back as 1875 to afford a deeper understanding of both economic history and the most recent economic fluctuations. Seven papers address specific aspects of economic activity: consumption, investment, inventory change, fiscal policy, monetary behavior, open economy, and the
£79.80
The University of Chicago Press Getting Your Way Strategic Dilemmas in the Real
Book SynopsisWhen we donate our unwanted clothes to charity, we rarely think about what will happen to them: who will sort and sell them, and finally, who will revive and wear them. This volume looks at the multibillion dollar secondhand clothing business, as well as its impact on the African economy.
£31.56
The University of Chicago Press Quantifying Systemic Risk NBER National Bureau of
Book SynopsisIn the aftermath of the financial crisis, the federal government has pursued regulatory reforms, including proposals to monitor systemic risk. This book addresses the challenges of measuring risk, and looks at the means of measuring systemic risk and explores alternative approaches.
£90.72
University of Chicago Press Coordination Information Historical
Book SynopsisCase studies examining how firms co-ordinate economic activity in the face of asymmetric information are the focus of this volume. It studies the development of the flow of information and co-ordination of economic activity within and between firms.Table of ContentsIntroduction: History and Theory in Search of One Another Naomi R. Lamoreaux, Daniel M. G. Raff. 1: The Puzzling Profusion of Compensation Systems in the Interwar Automobile Industry Daniel M. G. Raff Comment Walter Licht 2: Industrial Engineering and the Industrial Enterprise, 1890-1940 Daniel Nelson Comment Michael J. Piore 3: The Coordination of Business Organization and Technological Innovation within the Firm: A Case Study of the Thomson-Houston Electric Company in the 1880s W. Bernard Carlson Comment John Sutton 4: Organization and Coordination in Geographically Concentrated Industries Michael J. Enright Comment Kenneth L. Sokoloff 5: The Boundaries of the U.S. Firm in R&D David C. Mowery Comment Joel Mokyr 6: Legal Restraints on Economic Coordination: Antitrust in Great Britain and America, 1880-1920 Tony Freyer Comment Victor P. Goldberg 7: The Evolution of Interregional Mortgage Lending Channels, 1870-1940: The Life Insurance-Mortgage Company Connection Kenneth A. Snowden Comment Timothy W. Guinnane 8: The Costs of Rejecting Universal Banking: American Finance in the German Mirror, 1870-1914 Charles W. Calomiris Comment Peter Temin Contributors Name Index Subject Index
£106.40
The University of Chicago Press Deconstructing the Monolith The Microeconomics
Book SynopsisThe National Industrial Recovery Act (NIRA) was enacted by Congress in June of 1933 to assist the nation's recovery during the Great Depression. Its passage ushered in a unique experiment in US economic history: under the NIRA, the federal government explicitly supported, and in some cases enforced, alliances within industries. Antitrust laws were suspended, and companies were required to agree upon industry-level codes of fair competition that regulated wages and hours and could implement anti-competitive provisions such as those fixing prices, establishing production quotas, and imposing restrictions on new productive capacity. The NIRA is generally viewed as a monolithic program, its dramatic and sweeping effects best measurable through a macroeconomic lens. In this pioneering book, however, Jason E. Taylor examines the act instead using microeconomic tools, probing the uneven implementation of the act's codes and the radical heterogeneity of its impact across industries and time
£45.60
The University of Chicago Press Economic Dimensions of Personalized and Precision
Book SynopsisThis volume explores the intersection of the scientific, clinical, and economic factors affecting the development of PPM, including its effects on the drug pipeline, on reimbursement of PPM diagnostics and treatments, and on funding of the requisite underlying research; and it examines recent empirical applications of PPM.
£106.40
The University of Chicago Press High Art Down Home
Book SynopsisHow do artists, collectors, dealers and curators whose lives and livelihoods are so intimately affected by the valuation of art manage to cope with such an intangible market? To answer this question, this book focuses on the localized and typical world of the St Louis art scene.
£28.00
McGill-Queen's University Press Capitalism XXL
Book SynopsisCapitalism XXL calls for changing the rules of capitalism in order to tame giant corporations and restore the individual to the world economy. Noels proposes an approach that considers human dimensions and describes a sustainable future economy that will not burden subsequent generations with debt, social inequality, and environmental damage.Trade Review“In an era when tech giants shake the earth like dinosaurs, how should we respond? Amazon merely mentions interest in a sector, and all of the companies there lose 20 percent of their value. Facebook monetizes its users’ data like it’s a division of the National Security Agency. Geert Noels explains the cure for corporate gigantism.” Barry Ritholtz, author of Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy“The ‘winner takes all’ effect is a hot topic today. However, where most economists are focusing on the impact on margins and profits or productivity, Geert Noels takes a wider look at the impact of large systems on mental well-being, communities, and our climate problems.” Pattie Maes, founder of MIT Media Lab’s Fluid Interfaces Group“In an age when bigger is assumed to be better, Geert Noels warns of the perils of size – and makes a convincing case for the benefits of going small. Not only is small beautiful; it is also more economically viable in the long run. Do yourself a big favour and read Capitalism XXL.” Eric Weiner, author of The Geography of Genius: Lessons from the World’s Most Creative Places
£26.99
John Wiley and Sons Ltd Descriptive Analysis in Sensory Evaluation
Book SynopsisA comprehensive review of the techniques and applications of descriptive analysis Sensory evaluation is a scientific discipline used to evoke, measure, analyse and interpret responses to products perceived through the senses of sight, smell, touch, taste and hearing. It is used to reveal insights into the ways in which sensory properties drive consumer acceptance and behaviour, and to design products that best deliver what the consumer wants. Descriptive analysis is one of the most sophisticated, flexible and widely used tools in the field of sensory analysis. It enables objective description of the nature and magnitude of sensory characteristics for use in consumer-driven product design, manufacture and communication. Descriptive Analysis in Sensory Evaluation provides a comprehensive overview of a wide range of traditional and recently-developed descriptive techniques, including history, theory, practical considerations, statistical analysis, applications, case studies and future Table of ContentsEditor Biographies, ix List of Contributors, xi Preface to the Series, xv Preface, xix Section 1: Introduction 1 Introduction to Descriptive Analysis, 3Sarah E. Kemp, May Ng, Tracey Hollowood and Joanne Hort 2 General Considerations, 41Sylvie Issanchou 3 Setting Up and Training a Descriptive Analysis Panel, 81Margaret A. Everitt 4 Panel Quality Management: Performance, Monitoring and Proficiency, 113Carol Raithatha and Lauren Rogers 5 Statistical Analysis of Descriptive Data, 165Anne Hasted Section 2: Techniques 6 Consensus Methods for Descriptive Analysis, 213Edgar Chambers IV 7 Original Flavor and Texture Profile and Modified/Derivative Profile Descriptive Methods, 237Alejandra M. Muñoz and Patricia A. Keane 8 Quantitative Descriptive Analysis, 287Joel L. Sidel, Rebecca N. Bleibaum and K.W. Clara Tao 9 Spectrum™ Method, 319Clare Dus, Lee Stapleton, Amy Trail, Annlyse Retiveau Krogmann and Gail Vance Civille 10 Quantitative Flavour Profiling, 355Sophie Davodeau and Christel Adam 11 A5daptive Profile Method®, 389Alejandra M. Muñoz 12 Ranking and Rank-Rating, 447Graham Cleaver 13 Free Choice Profiling, 493Pieter H. Punter 14 Flash Profile Method, 513Wender L.P. Bredie, Jing Liu, Christian Dehlholm and Hildegarde Heymann 15 Projective Mapping & Sorting Tasks, 535Dominique Valentin, Sylvie Chollet, Michael Nestrud and Hervé Abdi 16 Polarized Sensory Positioning, 561Gastón Ares, Lucía Antúnez, Luis de Saldamando and Ana Giménez 17 Check-All-That-Apply and Free Choice Description, 579Dominic Buck and Sarah E. Kemp Section 3: Applications 18 Application of Descriptive Sensory Analysis to Food and Drink Products, 611Cindy Beeren 19 Application of Descriptive Analysis to Non-Food Products, 647Anne Churchill and Ruth Greenaway Section 4: Summary 20 Comparison of Descriptive Analysis Methods, 681Alejandra M.
£157.45
John Wiley & Sons Inc Power Markets and Economics
Book SynopsisIt is now almost twenty years since liberalisation and the introduction of competition was proposed for electricity utilities. Some form of restructuring has been widely adopted around the world to suit local objectives. The industry now faces new challenges associated with global warming, rising prices and escalating energy demand from developing countries like China and India. The industry will have to cope with; managing emissions; managing variable energy sources like wind, dev eloping clean coal technology; accommodating distributed generation and new nuclear stations and managing the impact of these developments on the distribution and transmission networks. It is now necessary to consider how the various market structures that were adopted have performed and how they will address some of these new issues and what further changes might be necessary. This volume presents an all-inclusive analysis of the electricity market structures that have been adopted around the world and Trade Review?This is a remarkable book which provides essential data for any informed discussion of this vital problem that is so often dominated by ill-informed debate.? (Oxford Prospect, August 2009) "Murray's overview of the link between engineering and economics in the energy sector provides a timely look at the big challenge for the global power industry.... [It] provides a sound bases for anyone involved in the wider debate on how the market should be shaped." (Engineering and Technology, May 2009) "Murray's overview of the link between engineering and economics in the energy sector provides a timely look at the big challenge for the global power industry ? .[It] provides a sound bases for anyone involved in the wider debate on how the market should be shaped." (Engineering and Technology, May 2009)Table of ContentsContents Foreword Preface Part One Industry Infrastructure Chapter 1 Approach to Restructuring 1.1 Introduction 1.2 Industry Physical Structure 1.3 Introduction of Competition 1.4 Restructuring Options 1.5 Comparison of Structures 1.6 Summary Chapter 2 Market Mechanisms 2.1 Introduction 2.2 Market Participants 2.3 Market Mechanisms 2.4 Market Implementation 2.5 Price Analysis 2.6 Summary Part Two The Cost Chain Chapter 3 Basic Generation Energy Costs 3.1 Introduction 3.2 Cost Components 3.3 Practical Operating Efficiencies 3.4 Impact of Utilisation on Costs 3.5 Comparison of Generation Costs 3.6 International Comparisons 3.7 Summary Chapter 4 Alternative Energy Sources 4.1 Introduction 4.2 Competing Sources 4.3 Current Production Europe 4.4 Incentive Schemes 4.5 Market Pricing 4.6 The Economics of Alternative Sources 4.7 Comparisons 4.8 Summary Chapter 5 Emissions 5.1 Introduction 5.2 Emission Trading Schemes (ETS) 5.3 Large Combustion Plant Directive (LCPD) 5.4 Generation CO2 Emissions 5.5 Production Costs 5.6 National Allocation Plans 5.7 Market Operation 5.8 Impact of Capacity Mix 5.9 International Approach 5.10 Summary Chapter 6 Transmission 6.1 Introduction 6.2 Impact of Transmission Constraints in Markets 6.3 Transmission Charging 6.4 Derivation of Use of System Charges 6.5 International Tariff Comparisons 6.6 Transmission Investment 6.7 Interconnection Investment Appraisal 6.8 International Practice 6.9 Summary Chapter 7 Distribution 7.1 Introduction 7.2 Market Status 7.3 Commercial Arrangements 7.4 Metering and Balancing 7.5 Cost of Distribution 7.6 Distribution Tariffs 7.7 OPEX Regulation 7.8 Capex Regulation 7.9 Business Risk 7.10 Distributed Generation 7.11 Summary Chapter 8 End User Charges and Prices 8.1 Introduction 8.2 Price Comparisons 8.3 End user Energy Prices 8.4 Total End User Prices 8.5 Tariff Development 8.6 Customer Switching 8.7 Summary Part Three Market Operation Chapter 9 Market Trading 9.1 Introduction 9.2 European Markets 9.3 Developing Markets – China 9.4 Market Power 9.5 Trading Arrangements 9.6 Bilateral Trading 9.7 Balancing Market 9.8 Exchange Trading 9.9 Supplier Risk 9.10 Generation Risk 9.11 Market Interaction 9.12 Arbitrage Spark Spread 9.13 Summary Chapter 10 Market Analysis 10.1 Introduction 10.2 Modelling Overview 10.3 Dispatch Market Simulation 10.4 Load Duration Model 10.5 Hydro Generation 10.6 Interconnection Modelling 10.7 Predicting Demand Data 10.8 Generation data 10.9 Calculations 10.10 Price Duration Curve 10.11 Statistical Forecasting 10.12 Predicting New Entry 10.13 Summary Chapter 11 Ancillary Service Markets 11.1 Introduction 11.2 Ancillary Service Requirements 11.3 Market Volume 11.4 Procurement Process 11.5 Cost of Providing Services 11.6 Predicting Revenues 11.7 Summary Chapter 12 Cross-border Trading 12.1 Introduction 12.2 Governance 12.3 Cross-border Capacity 12.4 New Investment 12.5 Managing Operation 12.6 Capacity Auctions 12.7 Security 12.8 Charging for Wheeling 12.9 International Trading Development 12.10 Summary Chapter 13 Investment Appraisal 13.1 Introduction 13.2 Overall Analysis 13.3 Analysis of Options 13.4 Plant Costs 13.5 Predicting Revenue 13.6 Bidding/Contracting Strategy 13.7 Evaluating Risk 13.8 Summary Part Four Market Development Chapter 14 Market Performance 14.1 Introduction 14.2 Performance Criteria 14.3 Market Shortcomings 14.4 Performance Assessment 14.5 Performance Improvement 14.6 Summary Chapter 15 Market Developments 15.1 Introduction 15.2 Generation Developments 15.3 Future Plant Mix 15.4 Transmission and Distribution Grids 15.5 Carbon Capture and Storage 15.6 Market Implications 15.7 Summary Chapter 16 Long-term Scenarios 16.1 Introduction 16.2 Emissions 16.3 Alternative Energy Sources 16.4 The Nuclear Option 16.5 Fuel Prices 16.6 Fuel Supply Security 16.7 System Security 16.8 Clean Coal Technology 16.9 Network Developments 16.10 International Commodity and Freight Markets 16.11 Competition 16.12 Conclusions Glossary References Appendix Conversion Tables Index
£80.96
John Wiley & Sons Inc Sustainable Energy Pricing
Book SynopsisThis is the first book to address the issues of affordable power, sustainable energy, and reduced environmental impact through the science of energy pricing. Looking at the availability of natural resources from an engineering perspective, and determining how they can be priced to achieve sustainability in the energy sector, is the aim of this groundbreaking new work. Most current models used in energy pricing are based on linear analyses. While these models work well for targeted scenarios within a short time frame, they do not provide one with a scientific tool that can include many facets of the information age. The existing models do not include environmental sustainability in an integrated fashion. This is mainly because environmental costs are still considered to be intangible, and intractable with conventional economic analysis tools. Though one existing model acknowledges some possible theoretical truth to concerns expressed about the onset of ''peak oil''the pTrade Review“The book will be invaluable to engineers, managers, economists, and scientists working in the energy industry and economists and engineers working on sustainability, whether in industry or research.” (Chemistry & Industry, 1 January 2013) Table of ContentsAcknowledgements xiii Preface xv Introduction 1 0.1 Requirements of a Sustainable Energy Pricing Model 9 0.2 Outline of the Contents of this Volume 30 1. Fundamental Notions 37 1.1 "Energy Crunch" or: The Problems and Issues of Modeling an Energy Price 39 1.2 Matter, Energy, and Efficiency from Scientific Standpoint 66 1.3 Truth as a Scientific Frame of Reference 69 1.4 Phenomenally-based Sustainability: The Nature-science Criterion 80 1.5 Value Assessment, Value Addition and Phenomenally-based Energy Pricing 94 1.6 Newtonian 'Mechanism' and Mystification of How Value is Transformed into Price 104 1.7 Risk Assessment & Management and Aphenomenal Energy Pricing 107 1.8 The Temporal Criterion of Long-term Sustainability and its Implications 116 2. Newtonian Mechanism and Deconstruction of Scientific Disinformation 137 2.1 Introduction 139 2.2 Einstein's Relativity and Newton's Mechanism Compared 140 2.3 Newton's First Assumption 142 2.4 Fundamental Assumptions of Electromagnetic Theory 153 2.5 The Engineering Approach and Its Significance 175 2.6 First Conclusions 182 2.7 Continuity and Linearity 182 3. Offshore Networks of Control: Providing Short-Term Multi-Entity International Oil and Gas Plays with a Guarantee 209 4. Current Energy Pricing Models" Origins & Problems 223 4.1 Consumption without Production 226 4.2 Imposed Energy Pricing 246 4.3 Inherent Features of the Current Energy-Pricing Model: Matters Affecting Individuals' Daily Existence 256 4.4 Societal Implications of the Current Energy-Pricing Model for the Long Term 269 4.5 Long-term vs Short-term Returns-on-investment [ROI] From Energy Exploration & Development 296 4.6 Resource "Renewability" and 'Sustainable Negative Rent' 304 5. The Role of Coal in the Modern Evolution of Energy Pricing 309 5.1 Introduction 309 5.2 Significance of Commodifying Labor-time & All Material Production -- Including its Energy Source 313 5.3 From "Law of Supply & Demand" (at the margin) to "Consumption without Production" 335 6. Carbon Emission Credits -- Theory & Practice 341 6.1 Introduction 341 7. "Peak Oil" and Other Fits of Pique Among Resource Economists 435 7.1 Introduction 435 7.2 Human Factor Social Consciousness & "Abstracting Absence" 453 Bibliography 477 Appendix -Disinformation in the Social & Historical Sciences: Concerning Time Functions and Sustainability of Resource Development 521 Index 575
£146.66
John Wiley & Sons Inc Nonlinear Pricing Theory and Applications 65
Book SynopsisOne of the most striking applications of chaos theory in recent years, non-linear pricing uses genetic algorithms, fuzzy logic, fractal imaging and other cutting-edge technologies to identify and exploit patterns hidden within the seemingly helter-skelter rise and fall of daily stock prices.Trade Review"A lively and intriguing book from a writer who can range from Zen to mathematics."-Adam Smith, author of The Money Game and Paper Money "Nonlinear Pricing is an eminently readable book which I found satisfied both the theorist and the practitioner in me. For the theorist, there are new insights into the relationship between complexity and the markets. For the practitioner, there are practical ideas on how to fashion investment strategies. I highly recommend Nonlinear Pricing to all students of the markets."-Edgar E. Peters, Chief Investment Strategist, PanAgora Asset Management; author, Chaos and Order in the Capital Markets "Nonlinear Pricing goes further than any book I am aware of in drawing a connection between the real world of economics and the new ideas about economics coming from the science of self-organized systems. Written in a lively, informal style, this is a wonderful read for those of us who have been wondering whether anyone understands anything at all about how markets work."-Lee Smolin, PhD, Department of Physics, Pennsylvania State University "Required reading for the enlightened financial professional. Enjoyable for the intelligent investor. A dash of physics, bite-sized pieces of nonlinear concepts, and a broth of hands-on experience make this a cookbook for the modern trader."-Richard E. Morley, Potts Medal recipient and founder of the Breakfast Club "A real eye-opener-Nonlinear Pricing explains a complex subject in easy terms and makes the reader aware of the many opportunities offered by this new technology." -Richard Olsen, founder, Olsen and Associates, Zurich "I, of course, think highly of this book as it credits Dance of the Money Bees with inventing 'swarm theory', now a discipline in computer science. There are many other splendid insights." -John Train, author and President of the Montrose Fund "An extraordinary tour d'horizon, this book challenges conventional thinking about finance, investing, and much else besides. Brimming with ideas and eye-opening connections, it makes a powerful case for our need to understand the extent to which nonlinearity shapes our lives." -Andrew Freeman, Managing Editor, Financial Services, The Economist Intelligence Unit; co-author, Seeing Tomorrow: Rewriting the Rules of Risk "Nonlinear Pricing: Theory & Application by Christopher T. May makes nice reading even for people like me who are not economists. This is an ambitious book as it presents economics starting from fundamental physics. It deserves a large readership." -Ilya Prigogine, 1977 Nobel Laureate, Chemistry; author, The End of Certainty; and the world's foremost non-equilibrium scientistTable of ContentsA Toy Story for Wall Street. Nonlinearity: A Retrospective. Nonlinearity: A Prospective. Fractal Analysis. Results of the Hurst Exponent. Nonlinear Technology. Biology and the S&P. Father Time. Nonlinear Pricing-Advanced Concepts. The Last Word-Resonance. Appendix. Glossary. Bibliography. Index.
£49.50
John Wiley & Sons Inc Managerial Economics Analysis Problems Cases 8e
Book SynopsisTruett and Truett's Eighth Edition shows how to use economic analysis to solve problems and make effective decisions in the complex world of business. The highly successful problem-solving approach, clear and accurate presentation of economic theory, and outstanding cases combine to make the best presentation of managerial economics yet.
£40.80
The University of Michigan Press A Casebook on Corporate Renewal
Book SynopsisSpans a variety of business areas relevant to corporate renewal and turnaround management. The cases in this book were selected to cover the knowledge and skills needed by successful turnaround managers, including ethical and legal issues; developing a plan of reorganization; and defining problems and their solutions.
£46.50
University of California Press Microeconomics and Human Behavior
Book SynopsisThis title is part of UC Press's Voices Revived program, which commemorates University of California Pressâs mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1982.
£28.90
John Wiley and Sons Ltd Public Sector Economics
Book SynopsisSince it was first published Public Sector Economics has become the most widely adopted undergraduate textbook in its field. Major revisions have been made to this fourth edition while preserving the central objective of the book, which is to explain the relevant principles and the relationships between public expenditure, taxation and the behaviour of economic agents such as individuals, households and firms. A thoroughly revised edition of the standard UK text in the area All statistics bought up to date A wealth of new material, particularly on taxation Table of Contents1. Introduction to the Scope of Public Sector Economics. 2. The Economic Rationale of the Modern State. 3. The Economic Analysis of Public Goods. 4. Collective Choice. 5. Theoretical and Empirical Analysis of Public Expenditure Growth. 6. Public Expenditure and Taxation in the UK. 7. Budgets, Bureaucrats and Efficiency. 8. Project Appraisal. 9. Fiscal Decentralization. 10. Taxation: An Introduction. 11. Partial Equilibrium Analysis of Taxation I: Taxes on Single Industries. 12. Partial Equilibrium Analysis of Taxation II: Modelling the Effects of Tax Policy. 13. General Equilibrium Analysis of Taxation. 14. Optimal Income Taxation. 15. Distribution of Income in the UK. 16. Income Taxation. 17. Income Taxation and the Work/Leisure Choice. 18. Measures to Reduce Poverty. 19. Taxation and the Consumption/Savings Choice. 20. Taxation of Goods and Services. 21. Taxation of Corporations. 22. Taxation of Wealth.
£49.35
John Wiley and Sons Ltd ContinuousTime Finance
Book SynopsisMerton provides an overview and synthesis of finance theory from the perspective of continuous-time analysis. He covers individual financial choice, corporate finance, financial intermediation, capital markets and selected topics on the interface between private and public finance.Trade Review"The thoughtful way in which the book is organized, the connective sections, and the fullness of this remarkable scholar's accomplishments, succeed in making this collection into a watershed event in finance. It is a testament to how much of modern finance he has formulated, advanced, and, in a meaningful sense, brought to a satisfactory completeness. Modern finance has much to do, but it can do no better than to add to what Merton has already done, and I recommend this book to all who wish to learn what finance has been up to for the past two decades." Stephen Ross, Journal of Finance "I do not see how one can undertake research in intertemporal asset-pricing under uncertainty without studying very carefully the past and present work of Robert C. Merton. Accordingly, Basil Blackwell has done the academic and non-academic finance community a great service by publishing this book." Michael Selby, The Economic Journal "A coherent text that represents a bible on continuous-time finance. Anyone with an interest in financial economics will be aware of the outstanding achievements of Robert C. Merton. To these individuals the book will come as no disappointment. It will undoubtedly be a classic reference on continuous-time finance for many years to come." The Manchester School "John Maynard Keynes alludes to economics in the following terms ...'the delightful paths of our own most agreeable branch of moral sciences, in which theory and fact, intuitive imagination and practical judgment, are blended in a manner comfortable to the human intellect.' Robert C. Merton's Continuous-time Finance, which comes to us more than 20 years after his first paper appeared, squarely fits this description." Suresh Sundaresan, Columbia University, The Review of Financial StudiesTable of ContentsForeword by Paul A. Samuelson. Preface. . Part I: Introduction to Finance and the Mathematics of Continuous-time Models:. 1. Modern Finance. 2. Introduction to Portfolio Selection and Capital Market Theory: Static Analysis. 3. On the Mathematics and Economic Assumptions of Continuous-time Financial Models. Part II: Optimum Consumption and Portfolio Selection in Continuous-time Models:. 4. Lifetime Portfolio Selection under Uncertainty: The Continuous-time Case. 5. Optimum Consumption and Portfolio Rules in a Continuous-time Model. 6. Further Developments in Theory of Optimal Consumption and Portfolio Selection. Part III: Warrant and Option Pricing Theory:. 7. A Complete Model of Warrant Pricing that Maximizes Utility. 8. Theory of Rational Option Pricing. 9. Option Pricing when Underlying Stock Returns are Discontinuous. 10. Further Developments in Option Pricing Theory. Part IV: Contingent-Claims Analysis in the Theory of Corporate Finance and Financial Intermediation:. 11. A Dynamic General Equilibrium Model of the Asset Market and its Application to the Pricing of the Capital Structure of the Firm. 12. On the Pricing of Corporate Debt: The Risk Structure of Interest Rates. 13. On the Pricing of Contingent Claims and the Modigliani-Miller Theorem. 14. Contingent Claims Analysis in the Theory of Corporate Finance and Financial Intermediation. Part V: An Intertemporal-Equilibrium Theory of Finance:. 15. An Intertemporal Capital Asset Pricing Model. 16. A General Equilibrium Theory of Finance in Continuous Time. Part VI: Applications of the Continuous-Time Model to Selected Issues in Public Finance:. 17. An Asymptotic Theory of Growth Under Uncertainty. 18. On Consumption-Indexed Public Pension Plans. 19. An Analytic Derivation of the Cost of Loan Guarantees and Deposit Insurance. 20. On the Cost of Deposit Insurance when there are Surveillance Costs. 21. Optimal Investment Strategies for University Endowment Funds. Bibliography. Author Index. Subject Index.
£61.70
John Wiley and Sons Ltd Business Cycles
Book SynopsisReviews business cycle literature, covering three key strands of the theory which have dominated recent literature in the subject: equilibrium (monetary and real) business cycles, nonlinear business cycle models and political business cycle theories.Table of Contents1. Introduction. 2. Equilibrium Business Cycles: Theory and Evidence. 3. Nonlinear Business Cycle Modelling. 4. Political Business Cycles, Credibility and Reputation. 5. Empirical Evidence Relating to Business Cycles in the US and the UK: New Results in Context. 6. Evaluation and Conclusions.
£45.55
John Wiley and Sons Ltd Transaction Costs Markets and Hierarchies
Book Synopsis* Transaction costs economics is one of the fastest growing areas of economic analysis* All the contributors are recognized experts in the field* This volume represents the most up-to-date statement on the limitations of the theory. .Trade Review"There is a plethora of interesting ideas to be found in these papers. I think the papers collected here are well worth reading." Journal of EconomicsTable of Contents1. Transaction Costs, Markets and Hierarchies: Christos Pitelis (University of Cambridge). 2. The Nature and Role of Markets: Malcolm Sawyer (University of Leeds). 3. In the Beginning there were Markets?: Frederick Fourie (University of the DFS, South Africa). 4. Control, Markets and Firms: Keith Cowling and Robert Sugden (University of Birmingham). 5. Transaction Costs and the Evolution of the Firm: Geoffrey Hodgson (Newcastle Polytechnic). 6. The Appropriability Critique of Transaction Cost Economics: Gregory Dow (University of Alberta, Canada). 7. Power and Efficiency in the Firm: Paul Marginson (University of Warwick). 8. Transaction Costs,... and Revenues: Michael Dietrich (Newcastle Polytechnic). 9. Transaction Cost Economics and the State: William Dugger (DePaul University, Chicago). 10. Markets, Hierarchies and Markets Again: Steve Thompson and Mike Wright (University of Manchester and University of Nottingham). 11. Markets, False Hierarchies and the Role of Asset Specificity: Neil Kay (University of Strathclyde). 12. On Transactions (Costs) and Markets and (as) Hierarchies: Christos Pitelis (University of Cambridge).
£45.55
Harvard University Press Biology Is Technology
Book SynopsisIn Biology Is Technology, author Robert Carlson offers a uniquely informed perspective on the endeavors that contribute to current progress in the science of biological systems and the technology used to manipulate them.Trade ReviewA thoughtful attempt to put what we think we know about biotechnology into a larger context, by a physicist-turned-bioentrepreneur. * The Economist *Biology Is Technology is essential reading for anyone who wishes to understand the current state of biotechnology and the opportunities and dangers it may create. -- Alex Soojung-Kim Pang * American Scientist *[Carlson] presents an informative view of the future prospects for biotechnology and its regulation. -- Michael A. Goldman * Nature *In this new book, bioengineer Robert H. Carlson forecasts the rise of the cell and the subsequent emergence of biological techniques for making fuels, synthetic DNA that builds new organisms, and reverse-engineered viruses for making vaccines. Biologists, Carlson says, are the new engineers, and the future is in remodeling life as we know it. * Wired *Since Rob Carlson is the authoritative tracker of progress in biotech, this book is the most complete—and exciting—chronicle of the technological revolution that promises to dominate this century. -- Stewart Brand, author of Whole Earth Discipline: An Ecopragmatist ManifestoCarlson clearly frames a fresh future for biotechnology. Each chapter, from technology trends to property rights and biosecurity conundrums, invites close reading and vibrant discussion. -- Drew Endy, Department of Bioengineering, Stanford University, and the BioBricks FoundationBiology Is Technology makes a tremendous contribution to public analysis of a very important emerging field. Although various commentators have discussed particular aspects of synthetic biology (e.g., risk regulation, intellectual property considerations), I am not aware of a book that encapsulates all of the varying strands of the debate. In addition, the book takes a set of provocative and interesting stances on the subjects that it addresses. It is obviously written by someone who has been a longstanding participant in, and commentator on, the field. Although I do not necessarily agree with all of the positions taken by the book, they are well-defended and thought through. -- Arti K. Rai, Duke Law SchoolTable of Contents* Acknowledgments * What Is Biology? * Building with Biological Parts * Learning to Fly (or Yeast, Geese, and 747s) * The Second Coming of Synthetic Biology * A Future History of Biological Engineering * The Pace of Change in Biological Technologies * The International Genetically Engineered Machines Competition (iGEM) * Reprogramming Cells and Building Genomes * The Promise and Peril of Biological Technologies * The Sources of Innovation and the Effects of Existing and Proposed Regulations * Laying the Foundations for a Bio-Economy * Of Straightjackets and Springboards for Innovation * Open Source Biology, or Open Biology? * What Makes a Revolution? * Notes * Index
£24.26
Harvard University Press Making Room
Book SynopsisThe first full-scale economic analysis of homelessness, Making Room provides answers quite unlike those offered so far. Focused on six cities in America and Europe, Brendan O'Flaherty discusses the new homelessness as a response to changes in the housing market which is linked to a widening gap in the incomes of the rich and the poor.Trade ReviewA longtime political operative in the city of Newark who happens to be something of a technical ace in a university economics department as well, O'Flaherty adopted a well-understood model of housing markets and put it to work testing various hypotheses...Thanks to him, the diagnosis [of the causes of homelessness] is increasingly clear. -- David Warsh * Boston Globe *O'Flaherty has written an important book to explain the rise of the 'new homelessness'...An original and wide-ranging account, written with grace and subtlety. It should be read carefully by any social scientist interested in poverty, housing, or urban policy...A tour de force worthy of study by anyone with an interest in applied microeconomic theory. -- John M. Quigley * Journal of Economic Literature *[O'Flaherty's] questions are key to any basic analysis of the problem: What is homelessness? Why is it bad? What happened? Why did it happen? What can we do, and what should we do about it?...O'Flaherty's strength is documenting [the] daytime symbols of public poverty. He is mainly interested in the extent to which...single adults--whom he labels, for want of a better word, the colloquial homeless--are affected by housing market and shelter policies. Are they really homeless? Are they inherently lazy? His findings are surprising. -- Elaine S. Abelson * Journal of Urban History *The most original and wide-ranging book ever written on the homeless. [O'Flaherty] intrepidly challenges conventional theories of the rise of homelessness and offers fresh ones...Brash, iconoclastic, and down-to-earth, Making Room belongs in the library of anyone interested in extreme poverty. -- Robert C. Ellickson, Yale Law SchoolTable of ContentsAcknowledgments Introduction What Is Homelessness? Why Is It Bad? Homeless Histories Daytime Streetpeople How to Think about Housing Markets Income Distribution Interest Rates and Operating Costs Cross-Section Studies Government and Housing Income Maintenance Mental Health Substance Abuse Criminal Justice What We Should Do Appendix: Homeless Studies Notes References Index
£27.86
Princeton University Press The Economic Theory of Annuities
Book SynopsisAnnuities are financial products that guarantee the holder a fixed return so long as the holder remains alive, thereby providing insurance against lifetime uncertainty. This book offers readers a theoretical analysis of the functioning of private annuity markets.Trade Review"Eytan Sheshinski has written the definitive book on the economics of annuities. In light of the demographic transitions in many countries and the changing nature of social insurance, this work will be extremely important in the years ahead."—Jerry R. Green, Harvard University"This book develops the economic theory of private annuity markets and fills an important gap in previous research. Its systematic and insightful analysis provides a foundation on which future students of insurance markets, and policy analysts concerned with these markets, are sure to build."—James Poterba, Massachusetts Institute of Technology"With exceptional clarity, Sheshinski presents the analysis of savings and annuitization, incorporating new results and raising interesting research questions."—Peter Diamond, Massachusetts Institute of Technology"This work is a very complete study of a surprisingly neglected field. The technical and conceptual problems raised by uncertainty as to the individual's lifetime, central to this study, are handled with great skill and is well written."—Kenneth J. Arrow, Nobel Prize-winning economistTable of ContentsPreface xiii Chapter 1: Introduction 1 1.1 Brief Outline of the Book 5 1.2 Short History of Annuity Markets 9 1.3 References to Actuarial Finance 11 Chapter 2: Benchmark Calculations: Savings and Retirement 12 Chapter 3: Survival Functions, Stochastic Dominance, and Changes in Longevity 15 3.1 Survival Functions 15 3.2 Changes in Longevity 18 Chapter 4: Life Cycle Model with Longevity Risk: First Best and Competitive Equilibrium 21 4.1 First Best 21 4.2 Competitive Equilibrium: Full Annuitization 23 4.3 Example: Exponential Survival Function 25 4.4 Equivalence of Short-term, Long-term, and Deferred Annuities 26 Appendix 27 Chapter 5: Comparative Statics, Discounting, Partial Annuitization, and No Annuities 29 5.1 Increase in Wages 29 5.2 Increase in Longevity 30 5.3 Positive Time Preference and Rate of Interest 32 5.4 Partial Annuitization: No Short-term Annuity Market 33 5.5 Partial Annuitization: Low Returns on Annuities 35 5.6 Length of Life and Retirement 35 5.7 Optimum Without Annuities 38 5.8 No Annuities: Risk Pooling by Couples 40 5.9 Welfare Value of an Annuity Market 41 5.10 Example: Exponential Survival Function 42 Appendix 44 Chapter 6: Subjective Beliefs and Survival Probabilities 45 6.1 Deviations of Subjective from Observed Frequencies 45 6.2 Behavioral Effects 45 6.3 Exponential Example 47 6.4 Present and Future Selves 48 Chapter 7: Moral Hazard 51 7.1 Introduction 51 7.2 Comparison of First Best and Competitive Equilibrium 51 7.3 Annuity Prices Depending on Medical Care 54 Appendix 55 Chapter 8: Uncertain Future Survival Functions 56 8.1 First Best 56 8.2 Competitive Separating Equilibrium (Risk-class Pricing) 59 8.3 Equilibrium with Short-term Annuities 60 8.4 The Efficiency of Equilibrium with Long-term Annuities 62 8.5 Example: Exponential Survival Functions 65 Chapter 9: Pooling Equilibrium and Adverse Selection 67 9.1 Introduction 67 9.2 General Model 69 9.3 Example 71 Appendix 75 Chapter 10: Income Uncertainty 77 10.1 First Best 77 10.2 Competitive Equilibrium 78 10.3 Moral Hazard 79 Chapter 11: Life Insurance and Differentiated Annuities 81 11.1 Bequests and Annuities 81 11.2 First Best 83 11.3 Separating Equilibrium 84 11.4 Pooling Equilibrium 84 11.5 Period-certain Annuities and Life Insurance 87 11.6 Mixed Pooling Equilibrium 90 11.7 Summary 93 Appendix 94 Chapter 12: Annuities, Longevity, and Aggregate Savings 97 12.1 Changes in Longevity and Aggregate Savings 97 12.2 Longevity and Individual Savings 98 12.3 Longevity and Aggregate Savings 98 12.4 Example: Exponential Survival Function 102 12.5 No Annuities 103 12.6 Unintended Bequests 104 Appendix 106 Chapter 13: Utilitarian Pricing of Annuities 109 13.1 First-best Allocation 109 13.2 Competitive Annuity Market with Full Information 112 13.3 Second-best Optimum Pricing of Annuities 113 Appendix 116 Chapter 14: Optimum Taxation in Pooling Equilibria 118 14.1 Introduction 118 14.2 Equilibrium with Asymmetric Information 119 14.3 Optimum Commodity Taxation 122 14.4 Optimum Taxation of Annuities 125 Appendix 129 Chapter 15: Bundling of Annuities and Other Insurance Products 131 15.1 Introduction 131 15.2 Example 132 Chapter 16: Financial Innovation--Refundable Annuities (Annuity Options) 135 16.1 The Timing of Annuity Purchases 135 16.2 Sequential Annuity Market Equilibrium Under Survival Uncertainty 137 16.3 Uncertain Future Incomes: Existence of a Separating Equilibrium 140 16.4 Refundable Annuities 144 16.5 A Portfolio of Refundable Annuities 146 16.6 Equivalence of Refundable Annuities and Annuity Options 147 Appendix 150 References 153 Index 157
£46.75
Princeton University Press Bayesian Non and Semiparametric Methods and
Book SynopsisReviews and develops Bayesian non-parametric and semi-parametric methods for applications in microeconometrics and quantitative marketing. This book advocates a Bayesian approach in which specific distributional assumptions are replaced with more flexible distributions based on mixtures of normals.Trade Review"As the creator of bayesm (R software for Bayesian inference) and lead author of Bayesian Statistics and Marketing, Rossi has deep knowledge of the book's titular methods."--ChoiceTable of ContentsPreface vii 1 Mixtures of Normals 1 1.1 Finite Mixture of Normals Likelihood Function 6 1.2 Maximum Likelihood Estimation 9 1.3 Bayesian Inference for the Mixture of Normals Model 15 1.4 Priors and the Bayesian Model 16 1.5 Unconstrained Gibbs Sampler 25 1.6 Label-Switching 29 1.7 Examples 34 1.8 Clustering Observations 46 1.9 Marginalized Samplers 49 2 Dirichlet Process Prior and Density Estimation 59 2.1 Dirichlet Processes--A Construction 60 2.2 Finite and Infinite Mixture Models 64 2.3 Stick-Breaking Representation 68 2.4 Polya Urn Representation and Associated Gibbs Sampler 70 2.5 Priors on DP Parameters and Hyper-parameters 72 2.6 Gibbs Sampler for DP Models and Density Estimation 78 2.7 Scaling the Data 80 2.8 Density Estimation Examples 81 3 Non-parametric Regression 90 3.1 Joint vs. Conditional Density Approaches 90 3.2 Implementing the Joint Approach with Mixtures of Normals 93 3.3 Examples of Non-parametric Regression Using Joint Approach 96 3.4 Discrete Dependent Variables 104 3.5 An Example of Expenditure Function Estimation 108 4 Semi-parametric Approaches 115 4.1 Semi-parametric Regression with DP Priors 115 4.2 Semi-parametric IV Models 122 5 Random Coefficient Models 152 5.1 Introduction 152 5.2 Semi-parametric Random Coefficient Logit Models 157 5.3 An Empirical Example of a Semi-parametric Random Coefficient Logit Model 161 6 Conclusions and Directions for Future Research 187 6.1 When Are Non-parametric and Semi-parametric Methods Most Useful? 187 6.2 Semi-parametric or Non-parametric Methods? 189 6.3 Extensions 191 Bibliography 195 Index 201
£40.80
Princeton University Press The Microtheory of Innovative Entrepreneurship
Book SynopsisAn authoritative look at the microeconomics of entrepreneurshipEntrepreneurs are widely recognized for the vital contributions they make to economic growth and general welfare, yet until fairly recently entrepreneurship was not considered worthy of serious economic study. Today, progress has been made to integrate entrepreneurship into macroeconomics, but until now the entrepreneur has been almost completely excluded from microeconomics and standard theoretical models of the firm. The Microtheory of Innovative Entrepreneurship provides the framework for introducing entrepreneurship into mainstream microtheory and incorporating the activities of entrepreneurs, inventors, and managers into standard models of the firm.William Baumol distinguishes between the innovative entrepreneur, who comes up with new ideas and puts them into practice, and the replicative entrepreneur, which can be anyone who launches a new business venture, regardless of whether similaTrade Review"Even as innovative entrepreneurship has emerged as the goal for policymakers around the globe, economists have struggled to find its proper place in microtheory. No more. In this pathbreaking new book, William Baumol provides the blueprint for understanding the crucial role of entrepreneurship and its contribution to innovation and ultimately economic growth. This lively and thoughtful book highlights the distinct role entrepreneurs play in the economy and reveals why the entrepreneur can no longer remain the invisible man in economic theory."—David B. Audretsch, author of The Entrepreneurial Society"Baumol is one of the giants in the entrepreneurship field. The Microtheory of Innovative Entrepreneurship will be widely read, discussed, and debated, and is likely to have a significant impact on the scholarly conversation."—Peter G. Klein, University of Missouri"This book is a timely and valuable contribution to the economics of entrepreneurship. Baumol's ambitious goal is to give the entrepreneur his rightful place in economic theory. He demonstrates that, contrary to conventional thinking, the elusive figure of the entrepreneur is indeed amenable to logical economic analysis."—Simon C. Parker, University of Western OntarioTable of ContentsList of Figures and Tables ix PREFACE: The Innovative Entrepreneur in Dynamic Microtheory xi INTRODUCTION: Bringing Entrepreneurship and Innovation into the Theory of Value 1 CHAPTER 1: Entrepreneurship in Economic Theory: Reasons for Its Absence and Goals for Its Restoration 9 PART I: Pricing, Remuneration, and Allocation of the Agents of Innovation CHAPTER 2: Toward Characterization of the Innovation Industry: The David-Goliath Symbiosis 25 CHAPTER 3: Entrepreneurship, Invention, and Pricing: Toward Static Microtheory 36 CHAPTER 4: Oligopolistic "Red Queen" Innovation Games, Mandatory Price Discrimination, and Markets in Innovation 57 PART II: Welfare Theory: Technology Transfer, Imitation, and Creative Destruction CHAPTER 5: Optimal Innovation Spillovers: The Growth-Distribution Trade-off 77 CHAPTER 6: Enterprising Technology Dissemination: Toward Optimal Transfer Pricing and the Invaluable Contribution of "Mere Imitation" 101 CHAPTER 7: The Entrepreneur and the Beneficial Externalities of Creative Destruction 128 PART III: Institutions, Payoffs, and the Entrepreneur's Choice of Activity: Historical Origins CHAPTER 8: Economic Warfare as a "Red Queen" Game: The Emergence of Productive Entrepreneurship 139 CHAPTER 9: On the Origins of Widespread Productive Entrepreneurship 152 CHAPTER 10: The Allocation of Entrepreneurship Does Matter 165 CHAPTER 11: Mega-enterprising Redesign of Governing Institutions: Keystone of Dynamic Microtheory 172 CHAPTER 12: Summing Up: Yes, the Theory of Entrepreneurship Is on Its Way 188 Notes 197 References 225 Index 237
£46.75
Princeton University Press General Equilibrium Theory of Value
Book SynopsisThe concept of general equilibrium, one of the central components of economic theory, explains the behavior of supply, demand, and prices by showing that supply and demand exist in balance through pricing mechanisms. This book explains how the equilibrium manifold approach can be usefully applied to the general equilibrium model.Trade Review"The economic concepts and differential topology methods presented in this book are clear, accessible and detailed so the reader can study the book independently without requiring any serious prior knowledge... [T]his comprehensive and pedagogical book is suitable for graduate students and also for researchers in this field."--Ioannis A. Polyrakis, Mathematical Reviews Clippings "General Equilibrium Theory of Value offers a comprehensive foundation for the most current models of economic theory and is ideally suited for graduate economics students, advanced undergraduates in mathematics, and researchers in the field."--World Book IndustryTable of ContentsPreface xi CHAPTER 1: Goods and Prices 1 1.1 Introduction 1 1.2 Goods 1 1.3 Prices 2 1.4 Relative Prices 2 1.5 Price Normalization 3 1.6 Notes and Comments 4 CHAPTER 2: Preferences and Utility 5 2.1 Consumption Sets 5 2.2 Binary Relations 6 2.3 Consumers' Preferences 8 2.4 Smooth Utility Functions 14 2.5 Conclusion 18 2.6 Notes and Comments 18 CHAPTER 3: Demand Functions 19 3.1 Introduction 19 3.2 Constrained Utility Maximization 19 3.3 The Individual Demand Function 23 3.4 Properties of Demand Functions in D 24 3.5 Demand-based Consumer Theory 31 3.6 Conclusion 36 3.7 Notes and Comments 36 CHAPTER 4: The Exchange Model 37 4.1 Introduction 37 4.2 The Sets E, Er, and Ec of m-tuples of Demand Functions Defining the Exchange Model 38 4.3 The Exchange Model 39 4.4 Equilibrium Equation 39 4.5 The Equilibrium Manifold and the Natural Projection 41 4.6 The Smooth Equilibrium Manifold 42 4.7 Smoothness of the Natural Projection 44 4.8 Critical and Regular Points and Values 44 4.9 Notes and Comments 46 CHAPTER 5: The Equilibrium Manifold 47 5.1 Introduction 47 5.2 Global Properties and Their Interest 47 5.3 The No-trade Equilibria 49 5.4 The Fibers of the Equilibrium Manifold 50 5.5 The Equilibrium Manifold as a Collection of Linear Fibers Parameterized by the No-trade Equilibria 52 5.6 A Picture of the Equilibrium Manifold 53 5.7 Diffeomorphism with R_m 53 5.8 Conclusion 54 5.9 Notes and Comments 55 CHAPTER 6: Applications of the Global Coordinate System 56 6.1 Introduction 56 6.2 Coordinate System (A) 56 6.3 Coordinate System (B) 57 6.4 Formulas of the Natural Projection 57 6.5 The Jacobian Matrix of Aggregate Excess Demand 58 6.6 Conclusion 61 6.7 Notes and Comments 61 CHAPTER 7: The Broad Picture 62 7.1 Introduction 62 7.2 Properness 62 7.3 Smooth Selection at a Regular Equilibrium 63 7.4 The Equilibrium Manifold over Regular Economies 64 7.5 Genericity of Regular Economies 67 7.6 The Degrees of the Natural Projection 69 7.7 Conclusion 72 7.8 Notes and Comments 73 CHAPTER 8: The Fine Picture 74 8.1 Introduction 74 8.2 Aggregate Demand at a No-trade Equilibrium 74 8.3 Regularity of the No-trade Equilibria 75 8.4 The Set of Equilibrium Allocations 75 8.5 Economies with a Unique Equilibrium 78 8.6 Degree of the Natural Projection 79 8.7 The Set of Regular Equilibria 79 8.8 Conclusion 81 8.9 Notes and Comments 81 CHAPTER 9: Production with Decreasing Returns 82 9.1 Introduction 82 9.2 Production Sets: Definitions 82 9.3 Production Sets: Main Properties 84 9.4 The Firm's Objective Function 89 9.5 The Strict Decreasing Returns to Scale Firm 90 9.6 The Net Supply Function as a Primitive Concept 92 9.7 Conclusion 94 9.8 Notes and Comments 95 CHAPTER 10: Equilibrium with Decreasing Returns 96 10.1 Introduction 96 10.2 The General Equilibrium Model with Private Ownership of Decreasing Returns to Scale Firms 96 10.3 Production Adjusted Demand Functions 98 10.4 The Equivalent Exchange Model 101 10.5 Properness of the Natural Projection 103 10.6 Conclusion 107 10.7 Notes and Comments 107 CHAPTER 11: Production with Constant Returns 108 11.1 Introduction 108 11.2 Production Sets 109 11.3 The Net Supply Correspondence 112 11.4 Three Examples 115 11.5 Net Supply Correspondence of a Smooth Constant Returns to Scale Firm 118 11.6 The Graph of the Net Supply Correspondence 120 11.7 Conclusion 123 11.8 Notes and Comments 123 CHAPTER 12: Equilibrium with Constant Returns 124 12.1 Introduction 124 12.2 Decreasing and Constant Returns: General Case 124 12.3 Constant Returns: Reduced Form 125 12.4 Equilibria of the Model N 126 12.5 The Equilibrium Manifold Approach 126 12.6 The Equilibrium Manifold for the Model N 127 12.7 The Natural Projection 133 12.8 Regular and Critical Equilibria 134 12.9 Degrees of the Natural Projection 137 12.10 Regular and Singular Economies 138 12.11 Uniqueness of Equilibrium over ?(T) 139 12.12 The Natural Projection as a Finite Covering of the Set of Regular Economies 141 12.13 Values of the Natural Projection Degrees 143 12.14 Conclusion 144 12.15 Notes and Comments 144 Postscript 145 APPENDIX A: Notation 149 A.1 Points, Vectors, Inner Product 149 A.2 Gradient 149 A.3 Second-Order Derivatives and the Hessian Matrix of a Smooth Function 150 APPENDIX B: Point-set Topology 151 B.1 Proper Maps 151 APPENDIX C: Smooth Manifolds 152 C.1 The Implicit Function Theorem 152 C.2 Smooth Manifolds and Submanifolds 152 C.3 Smooth Mappings, Immersions, and Submersions 153 APPENDIX D: Singularities of Smooth Maps 155 D.1 Critical and Regular Points 155 D.2 Singular and Regular Values 155 D.3 Sard's Theorem 156 D.4 The Regular Value Theorem 156 D.5 The Case where dimX = dimY 156 D.6 Coverings 157 D.7 Surjectivity of Maps with Non-Zero Modulo 2 Degree 157 APPENDIX E: Convexity 159 E.1 Convex and Strictly Convex Sets 159 E.2 Quasi-concave Functions 159 E.3 Smooth Quasi-concavity and Second-Order Derivatives 162 E.4 Bordered Hessian of a Smoothly Quasi-concave Function 164 E.5 Recession Cone of a Convex Set 165 APPENDIX F: Miscellany 166 F.1 Dimension of Semi-algebraic Sets 166 References 167 Index 171
£40.50
Princeton University Press Lectures on Public Economics
Book Synopsis"Originally published in 1980 by McGraw-Hill"--Title page verso.Trade Review"This classic volume by two of the pioneers of modern public economics remains an essential reference for students of the field. The key theoretical results discussed in this volume—a number of which were discovered by the authors themselves—have stood the test of time and continue to be taught in public economics courses around the world, including my own course at Harvard."—Raj Chetty, Harvard University"Lectures on Public Economics remains the most comprehensive and deepest textbook on the subject. The discussions presented here offer very insightful views on the limits of tax theory analysis that cannot be found in pure research articles, and help guide students who want to carry out research of their own."—Emmanuel Saez, University of California, Berkeley"There is no other general textbook on public economics that comes close to the achievement of Atkinson and Stiglitz. The organization of the book, its level of analysis, and the clarity of the exposition are just right for graduate and advanced undergraduate students."—Frank Cowell, London School of Economics
£49.50
Princeton University Press Happiness for All Unequal Hopes and Lives in
Book SynopsisTrade Review"A persuasive and well-supported study. Highly recommended."--Karen Shook, Times Higher Education "Graham is one of the few scholars who have traced the effects of a dramatic increase in inequality between the rich and poor in America."--Ana Swanson, WashingtonPost.com's Wonkblog "Graham pushes the wellbeing date into a more fruitful area, to assess how the experience of inequality shapes the views Americans hold about the future and the value of hard work... She pierces the myth that inequality is accepted in the US because it is accompanied by so many success stories."--Geoff Dyer, Financial TimesTable of ContentsList of Illustrations ix List of Tables xi Preface xiii 1 Introduction: Happiness for All: Living the Dream? 1 2 What Happened to Horatio Alger? U.S. Trends in Inequality and Opportunity in Comparative Perspective 22 3 Who Believes in the American Dream? Public Attitudes about Mobility in the United States and Beyond 42 4 The High Costs of Being Poor in the Land of the Dream: Stress, Insecurity, and Lack of Hope 76 5 Well-Being, Aspirations, and Outcomes: What Do We Know? 120 6 Can We Save the Dream? 136 Appendix 151 References 173 Index 187
£29.75
Princeton University Press Chicago Price Theory
Book SynopsisPrice theory is a powerful analytical toolkit for measuring, explaining, and predicting human behavior in the marketplace. This incisive textbook provides an essential introduction to the subject, offering a diverse array of practical methods that empower students to learn by doing.Trade Review"A tremendous resource. This comprehensive and innovative book brings together in one great package the Chicago way of thinking about price theory."—Douglas A. Irwin, author of Free Trade under Fire
£54.00
Princeton University Press Happiness for All
Book SynopsisTrade Review"One of Project Syndicate’s Best Reads in 2017 (chosen by Kermal Dervi )"
£18.00
Princeton University Press Restarting the Future
Book SynopsisTrade Review"Thought-provoking"---Martin Wolf, Financial Times"A compelling new book."---Daniel Finkelstein, Times"Thought-provoking"---Barry Eichengreen, Foreign Affairs"A fascinating new book. . . . Haskel and Westlake provide a combination of commonsense and ingenious solutions. . . . An important book that deserves to be widely debated."---Adrian Wooldridge, Bloomberg Opinion"The insights of Haskel and Westlake on how institutions currently inhibit an economy dominated by intangibles are valuable."---Nick Peterson, Financial Times"An excellent book."---Diane Coyle, Enlightened Economist
£15.29
Stanford University Press Microeconomic Theory Old and New
Book SynopsisThis book presents the core model of contemporary economic theory and policy, Walrasian economics, and presents a systematic behavioral and theoretical critique of that system.Trade Review"This is an excellent and timely guide for students on the evolution of microeconomic theory. John Gowdy has done an outstanding job of identifying how Walrasian theory has long since outlived its usefulness and previews where economics is, and should be, going. This is essential reading for economists of all stripes." -- Barry Solomon * Michigan Technological University *
£98.60
Stanford University Press Criminals and Victims
Book SynopsisCriminals and Victims analyzes economic decisions made by offenders and victims before, during, and after a crime or victimization.Trade Review"Allen has provided a resource that will be useful both to economists interested in the study of crime and to the best of the new breed of criminologists who are interested in the tools developed in other social sciences. His analytical skills are complemented by a careful and intuitive explanation of the theoretical results and a clear discussion of the empirical consequences of the underlying theory." -- Stephen T. Easton, Professor of Economics * Simon Fraser University *"Allen demonstrates how economic theory can provide valuable insight into relatively understudied aspects of criminal and victim decision making, offering clear examples of how that theory can be empirically tested. In each chapter, Allen lays the foundation of a new research agenda for social scientists interested in crime." -- Emily Owens, Cornell University * Department of Policy Analysis and Management *
£55.80
Stanford University Press Collective Action and Exchange
Book SynopsisIn Collective Action and Exchange: A Game-Theoretic Approach to Contemporary Political Economy , author William D. Ferguson unifies a broad range of new developments in economic theory and closely related areas of study to present a comprehensive political economy text, aimed at advanced undergraduates in economics and graduate students in the social sciences.Trade Review"Ferguson's book is a forceful introduction to the analytical techniques involved in this intellectual revolution, together with a presentation of the evidence supporting various models. It exhibits a deep appreciation for the long road ahead in improving our understanding of the political aspects of social life . . . Your students will love you for it because the material is so exciting and real world. Quite an antidote to traditional micro texts!"—Herbert Gintis, Central European University"The main accomplishment of the book is to establish collective action problems as a way to look at quandaries in political economy. It goes way beyond the standard models of self-interested rationality in economics and deals in detail with behavioral models of preference."—Sourav Bhattacharya, University of Pittsburgh"Political economy has evolved in the past two decades from verbal gymnastics to a scientific study of how people form groups to solve collective action problems. Ferguson's book is a forceful introduction to the analytical techniques involved in this intellectual revolution, together with a presentation of the evidence supporting various models. It exhibits a deep appreciation for the long road ahead in improving our understanding of the political aspects of social life."—Herbert Gintis, Santa Fe Institute, Central European University, and author of Game Theory Evolving"Collective Action and Exchange is a remarkably effective pedagogical tool. Ferguson's presentation highlights common themes that are too often hidden in specialized treatments of political economy. Particularly compelling is the way that he integrates the insights of Elinor Ostrom's Nobel prize-winning research on governing the commons into simple models based on core principles. This book demonstrates the value of modeling as an approach to policy analysis, and offers a power suite of economic tools to help us understand a wide range of individual and collective decisions."—Michael D. McGinnis, Former Director, The Vincent and Elinor Ostrom Workshop in Political Theory and Policy Analysis, Indiana University"Why can economics courses be so dull when the economy itself is positively riveting and, recently, economic theory has bristled with novel insights? Ferguson's Collective Action and Exchange brings the excitement into the classroom, introducing students to some of the best research on networks, cooperation, institutions, and information."—Samuel Bowles, author, Microeconomics: Behavior, Institutions, and Evolution
£140.25
Stanford University Press Collective Action and Exchange
Book SynopsisIn Collective Action and Exchange: A Game-Theoretic Approach to Contemporary Political Economy , author William D. Ferguson unifies a broad range of new developments in economic theory and closely related areas of study to present a comprehensive political economy text, aimed at advanced undergraduates in economics and graduate students in the social sciences.Trade Review"Ferguson's book is a forceful introduction to the analytical techniques involved in this intellectual revolution, together with a presentation of the evidence supporting various models. It exhibits a deep appreciation for the long road ahead in improving our understanding of the political aspects of social life . . . Your students will love you for it because the material is so exciting and real world. Quite an antidote to traditional micro texts!"—Herbert Gintis, Central European University"The main accomplishment of the book is to establish collective action problems as a way to look at quandaries in political economy. It goes way beyond the standard models of self-interested rationality in economics and deals in detail with behavioral models of preference."—Sourav Bhattacharya, University of Pittsburgh"Political economy has evolved in the past two decades from verbal gymnastics to a scientific study of how people form groups to solve collective action problems. Ferguson's book is a forceful introduction to the analytical techniques involved in this intellectual revolution, together with a presentation of the evidence supporting various models. It exhibits a deep appreciation for the long road ahead in improving our understanding of the political aspects of social life."—Herbert Gintis, Santa Fe Institute, Central European University, and author of Game Theory Evolving"Collective Action and Exchange is a remarkably effective pedagogical tool. Ferguson's presentation highlights common themes that are too often hidden in specialized treatments of political economy. Particularly compelling is the way that he integrates the insights of Elinor Ostrom's Nobel prize-winning research on governing the commons into simple models based on core principles. This book demonstrates the value of modeling as an approach to policy analysis, and offers a power suite of economic tools to help us understand a wide range of individual and collective decisions."—Michael D. McGinnis, Former Director, The Vincent and Elinor Ostrom Workshop in Political Theory and Policy Analysis, Indiana University"Why can economics courses be so dull when the economy itself is positively riveting and, recently, economic theory has bristled with novel insights? Ferguson's Collective Action and Exchange brings the excitement into the classroom, introducing students to some of the best research on networks, cooperation, institutions, and information."—Samuel Bowles, author, Microeconomics: Behavior, Institutions, and Evolution
£49.30
Stanford University Press Irrationality in Health Care
Book SynopsisThis book draws on behavioral economics to explain anomalies that are intrinsic in the U.S. health care system. Rather than focusing on promoting or analyzing policy, author Douglas E. Hough hones in on our sometimes irrational actions, their roots, and what we can do to influence our behavior, nudging the health care system towards better practices.Trade Review"Hough does an extraordinary job of distilling the literature and providing key insights to help us understand how health care consumers and providers really behave, and how government can formulate better policy. A must-read for anyone interested in the burgeoning field of behavioral economics and age-old questions in health care." -- Thomas Rice, Distinguished Professor * UCLA Fielding School of Public Health *"Hough explains and applies the emerging field of behavioral economics to patient and physician decision making, providing a rationale for seemingly irrational behavior, and its particular usefulness for designing health policies." -- Paul J. Feldstein * University of California, Irvine *"Balancing rigor and policy relevance, Hough shows the application of behavioral economics to health policy in a most compelling way. I liked this book so much, I wish I had written it!" -- Richard Scheffler, University of California * Berkeley *
£98.60
Stanford University Press Homer Economicus
Book SynopsisHomer Economicus brings together sixteen essays that use The Simpsons as the basis for a vibrant and accessible discussion of important concepts in economic theory, showing how these are at work in life in Springfield and beyond.Trade Review"This work may be the exception to the general rule that economics books that carry a movie, cartoon, or literary theme are tedious. In a book that will capture the imaginations of avid readers of pop economics, Hall manages to pull together a collection that references all the characters in the popular television show . . . Recommended."—B. P. Keating, CHOICE"This 16-chapter volume will prove valuable, not only to instructors seeking to make their economics principles classes livelier, but to general readers. Those who have long avoided the 'Queen of the Social Sciences' will find Homer Economicus a stimulating and pleasurable introduction to the field. They may well lose any natural inhibitions about thinking like an economist—which is not, as popular prejudice would have it, thinking cold-bloodedly or relying excessively on mathematical or graphical tools to model and understand human behavior. In Springfield, these authors show us, profound economic insights can emerge from the most mundane human activities, and we can develop a powerful intuition about economic decision-making by studying even silly or hilarious scenarios . . . So if you want a sneakily entertaining way to start thinking like an economist, grab a donut or a Duff, get comfortable on the living room sofa, and started reading about those two-dimensional but remarkably interesting creations of cartoonist Matt Groening."—Stephen J.K. Walters, Library of Law and Liberty"Homer Economicus quenches your thirst for learning like a Duff beer. The reader, through the lens of The Simpsons, will learn more about economics is a few hours than any textbook can possibly teach. My advice is that you kick back, put your feet up at your desk and enjoy a donut or two while you read this fascinating collection. Mmm."—G. Dirk Mateer, Senior Lecturer, University of Kentucky"Homer Economicus in action! The Simpsons is an excellent window onto the world of economics, and this book shows you how and why."—Tyler Cowen, George Mason University, blogger at The Marginal Revolution, and author of Discover Your Inner EconomistTable of ContentsContents and Abstracts1Scarcity, Specialization, and Squishees: The Simpsons as Homo Economicus chapter abstractUsing the characters of The Simpsons and their lives in the town of Springfield, this chapter outlines the fundamental concepts of the economic way of thinking. Economics is built on a core set of principles that must be mastered before meaningful economic analysis can be performed. Ten principles are outlined that provide the starting point for basic economic reasoning. These principles are then illustrated with numerous examples drawn from the actions and interactions of Homer, Marge, Bart, Lisa, Maggie and the rest of the residents of Springfield. 2Where the Invisible Hand Has Only Four Fingers: Supply, Demand, and the Market Process in Springfield chapter abstractThis chapter uses examples from The Simpsons to further illustrate the supply and demand sides of the market, with special emphasis on the market as a process. The most basic lessons of economics are that incentives matter, information about the value of scarce resources is necessary, and accurate feedback is required for individuals to make prudent decisions. Property rights are important because they produce incentives, prices provide information, and profit and loss accounting gives feedback to decision makers. The competitive price system steers economic activity via the structure of incentives and the flow of information so that dispersed individuals within a society will coordinate their plans, and they will do so in such a way that in the limit all the gains from exchange will be exhausted and all least-cost methods of production will be utilized. 3A Pile of Krusty Burgers Embiggens the Fattest Man: Obesity, Incentives, and Unintended Consequences in "King-Size Homer" chapter abstractPublic policies have unintended consequences and can sometimes actually be counterproductive. In some cases, public policies hurt exactly the people a policy is intended to help. The Simpsons episode "King-Size Homer" illustrates how policies have unintended consequences—and how people respond to incentives—by telling us the story of how Homer Simpson ballooned up to three hundred pounds in order to take advantage of disability regulations. Furthermore, this episode shows how changing incentives might cause people to make more self-destructive decisions in the short run. The episode illustrates a number of important economic principles, including trade-offs, marginal analysis, the role of incentives, and the law of unintended consequences. 4Twenty Dollars Can Buy Many Peanuts! Money and The Simpsons chapter abstractThis chapter presents a discussion of the functions of money and its evolution in the United States using examples from The Simpsons. Money is something that is generally accepted as a means of payment for goods and services. It functions as a medium of exchange, a unit of account, and a store of value. Milhouse fears that he will be used like "currency" in juvenile hall in the episode "Trilogy of Error." Actually, Milhouse does not possess the properties that would make a good candidate for money. Money arises from commodities that are widely valued, portable, divisible, and durable. In "Half-Decent Proposal" Homer laments that he cannot print his own money. Homer is 100 percent correct, but it's not only the government that can print money. In fact, private banks create the majority of new money in the United States economy. 5Thank You, Come Again: The Pursuit of Profits in Springfield chapter abstractThis chapter employs numerous examples from The Simpsons to explain the calculation of economic profits and highlight the role of said profits in society. The importance of the opportunity cost concept, often ignored by Homer Simpson, is emphasized throughout the chapter. The differences between accounting costs and economic costs are discussed through examples in which Homer fails to recognize opportunity costs and refuses to recognize other costs associated with operating a business. The critical function of profits and losses in a market economy are explained, with special emphasis on the signals that economic profits and losses provide for market participants. The chapter ends with a brief discussion of the impact of barriers to entry on economic profit and profit opportunities. 6They Have the Internet on Computers Now? Entrepreneurship in The Simpsons chapter abstractThis chapter introduces and discusses the theoretical and empirical body of research on entrepreneurship. The occupational, structural, and functional approaches to the study of entrepreneurship are discussed and illustrated using many thoughtful entrepreneurial experiences from The Simpsons. In addition, the meaning of entrepreneurship as judgment, alertness, innovation, adaptation, and coordination or leadership is demonstrated. Finally, the difference between productive, unproductive, and destructive entrepreneurship is distinguished. The chapter is intended as an introduction to the vast entrepreneurship literature and its many approaches, theories, and interpretations. 7I've Got a Monopoly to Maintain! Market Failure in The Simpsons chapter abstractModern economists have identified four main types of market failure: monopoly, public goods, asymmetric information, and externalities. This chapter takes a closer look at the first three types of market failure and, using examples from The Simpsons, illustrates how market mechanisms can overcome those market failure problems. Coolsville Comics, a competing comic book store, destroys the Android's Dungeon's monopoly for comic books in Springfield. Elinor Ostrom, the recent Nobel Prize winner in economics, has illustrated that local self-governance institutions can overcome public goods and commons problems. Efficiency wages easily overcome moral hazard problems that result from asymmetric information problems, such as Bart shirking on the job. Finally, gossip and brand names, such as Duff Beer, overcome adverse selection problems in Springfield and the real world. 8Will You Stop That Infernal Racket!?! Externalities and The Simpsons chapter abstractThis chapter will deal primarily with illustrating the concept of externalities in economics by drawing upon examples and lessons in The Simpsons. The objectives will be to (1) distinguish the types of spillover effects that separate social and private benefits and costs from those that do not; (2) explicitly demonstrate the property rights problem generating the externality; (3) demonstrate the different ways in which policies and individuals try to resolve these problems; and (4) introduce the public choice critique of government solutions, especially regulation. 9Mayors, Monorails, and Morons: Government Failure in The Simpsons chapter abstractThis chapter presents the government failure (or public choice) perspective as demonstrated in The Simpsons. The public choice perspective is the application of the principles of market economics to the analysis of government. Any differences that arise between individual choices in a market versus a government setting occur because of differences in the institutions that constrain individuals in the market versus in the public sphere. Choice in a public setting is channeled through political institutions such as elections and the voting system. The elections of Sideshow Bob as mayor and of Homer as sanitation commissioner illustrate the problems with choice in a public setting. It is the institutions rather than the motivations that differ in both settings. Like any market agent, public officials in The Simpsons are presented as self-interested. Crucially, they are also presented as being as good as any alternative. There are no superhumans in The Simpsons. 10Coming to Homerica: The Economics of Immigration chapter abstractLike many people throughout history, Apu Nahasapeemapetilon's decision to migrate from a poorer place (India) to a richer one (Springfield) was in part an economic one. This chapter uses Apu's situation in the episode "Much Apu About Nothing" as a case study to demonstrate how economists study migration. As the standard models suggest, Apu receives benefits and incurs costs as a result of migrating. The impact of a large migration on an economy is analyzed using the great wave of Ogdenvillians who came to Springfield in The Simpsons episode "Coming to Homerica." The chapter further examines the effect of immigration on wages, taxes, and government spending. 11Donut and Dimed: Labor Markets in Springfield chapter abstractThis chapter presents an overview of labor markets through the lens of The Simpsons. Differences in salary across professions and locations are explained using examples drawn from the popular show. Utilizing the perspectives and techniques of labor economics, the following questions are discussed: (1) How can a Joe Sixpack guy like Homer Simpson afford a four-bedroom house with a two-car garage in a world with horrible greedy bosses? and (2) What can people do to earn more money in a market system? In the course of the discussion, the chapter outlines the many things that Homer does to afford his lifestyle, such as earning a compensating differential, searching for a better job, signaling his abilities, and engaging in entrepreneurial activity. 12Paging Dr. Hibbert: What The Simpsons Can Teach Us About Health Economics chapter abstractThe rise in health care costs over the past few decades and the recent passage of major health care legislation has brought health economics to the forefront of current policy discourse. By satirizing issues in health care faced by many Americans, The Simpsons provides a mechanism by which to relate health economics to our daily lives. This chapter provides an overview of several of the main concepts in health economics, connecting each concept to its illustration in a particular episode of The Simpsons. In doing so, the chapter focuses on the economic issues considered especially unique to health care markets, including the demand for and production of health, asymmetric information and physician agency, incentives surrounding third-party payers, and the interactions between government and the health care sector. The chapter shows that all students of economics, including consumers and health care practitioners, have something to learn from The Simpsons. 13At First I Thought Prohibition Was a Good Thing: The Economics of Alcohol Control chapter abstractIn The Simpsons episode "Homer vs. the Eighteenth Amendment," Springfield enforces a prohibition on alcohol and a wide variety of economic consequences follow, including organized crime, violence, bootlegging, moonshining, and speakeasies. Homer becomes a successful smuggler and moonshiner and is dubbed the Beer Baron. In this chapter, Springfield's experience with prohibition is discussed in light of the literature on the economic effects of prohibition. In addition to finding that the economic results of prohibition are predictable on the basis of economic theory, prohibition is found to be counterproductive to the goals of prohibition and detrimental to freedom. This chapter also explores similarities to the War on Drugs. 14Mr. Burns' Casino: The Economics of Casino Gambling chapter abstractThe Simpsons episode on casino gambling titled "$pringfield (Or, How I Learned to Stop Worrying and Love Legalized Gambling)" aired in the early 1990s. Yet it highlighted some of the controversial issues related to casino economics that are still being debated today. The chapter examines some of the key controversies over the economic and social impacts of legal casinos. On the benefits side, the chapter addresses tax revenues, employment effects, and the consumer benefits from the expansion of legalized gambling. On the cost side, the discussion addresses pathological gambling and related behaviors, social costs, negative externalities, and moral objections to gambling. 15Homer Econonomicus or Homer Sapiens? Behavioral Economics in The Simpsons chapter abstractBehavioral economists study the ways in which people act irrationally (that is, at odds with their objective long-term best interests), and behavioral economics research has identified and characterized a number of consistent biases in decision making. An interesting feature of the characters in The Simpsons is that they illustrate many of the specific biases that behavioral economists study, including time-inconsistency, loss aversion, bounded rationality, and susceptibility to framing effects. Despite these "human" characteristics, however, none of the characters can be viewed as purely rational or irrational, and this feature contributes to the relevancy and longevity of the show. 16From Rabbit Ears to Flat Screen: It's Getting Better All the Time chapter abstractThe belief that American middle class economic well-being has stagnated, if not declined, is commonplace in the media and among many pundits. However, the economic data on what sorts of goods are actually in the households of American families suggest that life has never been better, both for the average and poorest American families. The chapter presents some of those data, focusing on basic household appliances and technology. Twenty years of The Simpsons illustrate these changes through the improvements in their standard of living. From TVs to cell phones to computers, even as the Simpson family remained solidly "upper-lower-middle class," the rising buying power of Homer's wages and the falling cost of production combined to bring them consumption possibilities their earlier selves did not have.
£22.49
Stanford University Press Irrationality in Health Care
Book SynopsisThis book draws on behavioral economics to explain anomalies that are intrinsic in the U.S. health care system. Rather than focusing on promoting or analyzing policy, author Douglas E. Hough hones in on our sometimes irrational actions, their roots, and what we can do to influence our behavior, nudging the health care system towards better practices.Trade Review"Hough does an extraordinary job of distilling the literature and providing key insights to help us understand how health care consumers and providers really behave, and how government can formulate better policy. A must-read for anyone interested in the burgeoning field of behavioral economics and age-old questions in health care." -- Thomas Rice, Distinguished Professor * UCLA Fielding School of Public Health *"Hough explains and applies the emerging field of behavioral economics to patient and physician decision making, providing a rationale for seemingly irrational behavior, and its particular usefulness for designing health policies." -- Paul J. Feldstein * University of California, Irvine *"Balancing rigor and policy relevance, Hough shows the application of behavioral economics to health policy in a most compelling way. I liked this book so much, I wish I had written it!" -- Richard Scheffler, University of California * Berkeley *
£25.19
John Wiley & Sons African Agricultural Reforms The Role of
Book Synopsis
£26.96
