Microeconomics Books

Book SynopsisThis authoritative book, bringing together the reports of the Competitiveness Advisory Group, identifies actions to improve European competitiveness politically, economically and socially. The objective is to raise living standards and maintain social cohesion.The Competitiveness Advisory Group has the mission of advising the European Commission and the Heads of State and Government of the European Union. The members of this independent group, which includes leading industrialists, trade unionists, politicians and academics, have adopted a 'bottom-up' approach, seeking to draw lessons from the experience of countries, industries and firms: they rely on 'benchmarking' in order to identify best practice.In the context of increasing interdependence of world trade and consequent globalization of the international economy new policy prescriptions are required for growth and employment, greater efficiency and higher standards of living. In relation to this, the Group discusses the need to close the worldwide technology gap, for Europe to develop deeper relations with the fast growing Asia Pacific region and argues for greater European solidarity in international trade negotiations. Within the European Union itself, it emphasizes the need to achieve the internal market for the free flow of goods, services and people. In addition, it stresses that Europe needs to catch-up, construct and eventually lead the development of the information society in which workers are recognized as a major asset to be invested in. The Group concludes that, although unemployment remains high, European competitiveness now has a brighter future with the movement towards economic and monetary union, and the enlargement of the European Union eastwards.This book will be essential reading for policymakers, government advisers, industrialists and academics concerned with the future of European economies and societies.Trade Review'. . . this is a valuable book.' -- Stephen Young, Journal of International Business StudiesTable of ContentsContents: What Competitiveness for Europe? An Introduction (A. Jacquemin and Lucio Pench) Enhancing European Competitiveness Four Reports (Competitiveness Advisory Group) First Report 1. Competitiveness and the European Economy 2. Completing the Internal Market 3. Strengthening the European Enterprise 4. Reaping Human Resources Second Report 1. Introduction 2. The Role of the State in the Provision and Regulation of Basic Infrastructures 3. Small and medium-sized enterprises (SMEs), Innovation and Research and Development 4. The Company and Environmental Policy 5. The Meaning of the Learning Society Third Report 1. Summary and Conclusions 2. Labour Market, Unemployment and Competitiveness 3. Labour Market Reform 4. The Company and Employment Fourth Report 1. Europe’s Place in a Globalizing World Economy 2. Benchmarks for Europe: The Dynamism of Asia 3. High-Level Standards, High-Level Benchmarks Index

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Book SynopsisThis is the first of two books in honour of Brian Loasby which simultaneously pay tribute to the contributions he has made to economics and extend the realm of Loasby-inspired economics.The book includes new contributions from an internationally acclaimed group of authors including Israel Kirzner, Peter Swann, Giovanni Dosi, Peter Groenewegen, Richard Langlois and Don Lamberton. Together, they draw on and extend Brian Loasby's work in developing and applying theories of organization and knowledge. The book opens with an introduction to Brian Loasby's career, influences and research. This is followed by an examination of issues raised by the analysis of markets and entrepreneurial behaviour, focusing on Marshallian and Austrian approaches. In the middle of the volume the human action theme is maintained but the focus is shifted onto the dynamics of consumer demand. The final group of chapters apply a history of economic thought perspective to problems of information and knowledge, and aspects of scale and internal organization.Economic Organization and Economic Knowledge will be welcomed by those economists working in the areas of microeconomics particularly markets, innovation, the theory of the firm, consumption, information and knowledge and competition.Trade Review'Both of these volumes would be particularly useful to readers who are interested in heterodox approaches to the theory of the firm, consumer behaviour and business strategy, as well as to those interested in Austrian, behavioural and post-Marshallian economics and methodology. A striking feature of both volumes is the level of originality of the contributions. Some of them are at the cutting-edge of their research fields and this is indicative of Loasby's legacy of prompting original and insightful research into simple, yet seldom-asked questions.' -- Kyle Bruce, Review of Political EconomyTable of ContentsContents: Introduction 1. Rationality, Entrepreneurship and Economic ‘Imperialism’ 2. Austrians and Marshallians on Markets: Historical Origins and Compatible Views 3. Making Markets 4. Conventions and Learning: A Perspective on the Market Process 5. Austrian and Evolutionary Perspectives on Consumer Demand and Firm Strategy 6. Marshall’s Consumer as an Innovator 7. Design and Efficiency: New Capabilities Embedded in New Products 8. Cognitive Processes, Social Adaptation and Innovation in Consumption Patterns: From Stylized Facts to Demand Theory 9. Knowledge as a Connecting Principle: John Rae and the Austrian School 10. Knowledge and Information in Classical Economics 11. Information: Pieces, Batches or Flows? 12. Perfect Competition, Equilibrium and Economic Progress: That Wretched Division of Labour and Increasing Returns 13. Scale, Scope, and the Reuse of Knowledge 14. Alfred Marshall and Scientific Management 15. Brian Loasby and Stirling: Speeches and Reflections Index

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Book SynopsisThis book is an authoritative collection of the most important published articles on key issues in securities markets including market design, the sources of the bid ask spread, and the short term movement of prices. The articles trace the development of this relatively new field of market microstructure while at the same time reflecting the latest ideas. At a time when securities markets are undergoing dramatic change, this two volume set provides important guidance to students, users and regulators of securities markets.Table of ContentsContents: Volume I: Introduction Part I: Beginnings Part II: Microstructure Theory Without Asymmetric Information Part III: Microstructure Theory With Asymmetric Information Part IV: Patterns of Short-Run Price Behavior Part V: Evidence on the Bid Ask Spread and its Sources Index • Volume II: Part I: Price Impacts of Trading Part II: Theory of Market Design Part III: Evidence on Market Design and Trading Costs Part IV: Other Markets Part V: Market Microstructure and Asset Pricing Index

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Book SynopsisThis book critically examines the progress made on macroeconomic stabilization and financial sector reform in the transition economies of Central and Eastern Europe. It relates microeconomic experiences to the broader macroeconomic context of reform, and emphasises that macro reform is underpinned by micro and institutional reform, especially in the financial sphere.Key features include: bank and enterprise restructuring and the progress towards the resolution of banking and bad debt problems implications of bank and enterprise restructuring for corporate governance and company performance an evaluation of bank-enterprise relationships exchange rates and capital flows, with an analysis of the capital inflow problem and the performance of fixed exchange rate regimes in the post-stabilization phase of the transition detailed surveys of individual firm and bank behaviour and performance during the reform process. The book will be welcomed by scholars and practitioners interested in monetary and financial economics, the economics of transition and comparative economic systems.Table of ContentsContents: Foreword: Keynote Speech by Vahur Kraft, President, Bank of Estonia Preface 1. Introductory Overview Part I: Bank and Enterprise Restructuring 2. The Polish Bank and Enterprise Restructuring Programme 3. Enterprise Restructuring and Changes in the Business Environment in Estonia 4. Financial Contracts and Relations in the Small and Medium-Sized Enterprise Sector in Poland 5. Financing Small and Medium-Sized Enterprises in Poland, 1989–1994 6. Entry Conditions, Structure and Performance in Banking Sectors in Central and Eastern Europe 7. Financial Reforms in Poland Part II: Exchange Rate Regimes and Capital Flows 8. Fixed Exchange Rate Regime in the Stages of Transition 9. Macroeconomic Policy and Capital Flows 10. The Magnitude and Determinants of Capital Flight in Eastern Europe 11. Sterilization of Capital Inflows in Transition Economies Part III: Macroeconomic Effects of Financial Reforms and Panel Discussion 12. Simulation Experiments of the Macroeconomic Effects of Financial Reforms in Poland and Estonia 13. The Continuing Debate Index

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Book SynopsisThis two volume set is a comprehensive collection of historical and contemporary articles which highlight the theoretical foundations and the methods and models of long wave analysis. After examining the beginnings of long wave theory, the book includes discussions of time series methods and non-linear modelling, with an exploration of economic development in its historical context. It investigates the process of evolution and mutation in industrial capitalism over the last two hundred years. Contemporary reviews and critiques of long wave theory are also included. It makes available for the first time much important material that has hitherto been inaccessible. The book will be of immense value to all students and scholars interested in the history of economic thought, time series analysis and evolutionary or institutionalist analysis.Table of ContentsContents: Volume I: Introduction Part I: The Pioneers Part II: Times Series Methods Part III: Catastrophe, Chaos and Nonlinear Modelling Index • Volume II: Part I: Cycles, Waves, Swings and Phases: Economic Development in its Historical Context Part II: Overviews Index

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Book SynopsisThe 27 articles reprinted in this volume are among Peter Mieszkowski's most important contributions to public, urban and regional economics. Several of these pieces concern income distribution theory and policies for promoting equality in wages, housing and education.The first part of this book includes studies of labour markets, tax incidence and the distributive effects of trade unions and wage subsidies. Two important conclusions presented in these papers concern the local property tax: it is a tax on capital and it results in under-provision of local public goods.The second and third parts of the book address, respectively, the decentralization of cities and and tax reform. Issues discussed include: racial discrimination in housing markets, the design of land use regulation, the negative income tax, consumption taxes, and tax reform in transition countries, particularly Eastern European countries.These outstanding essays bring together, in an accessible form, the work of one of the most important scholars in the field of public finance and urban economics.Table of ContentsContents: Introduction Part I: General Equilibrium Analysis of Tax Incidence and Labor Markets Part II: Urban and Regional Economics Part III: Tax Policy and General Economics Index

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Book SynopsisThe concept of equilibrium is of enormous significance in economics and is central to economic analysis. Volume I provides historical perspectives on the origins, development and criticisms of the idea of economic equilibrium and explains the meaning of modern equilibrium theory and the methods and techniques that are used. Volume II presents the classic literature on perfectly competitive equilibrium and the important models that explore equilibrium in imperfectly competitive markets. Volume III reveals the variety of recent developments and applications of the equilibrium concept, including stationary, temporary, underemployment, growth, rational expectations, Bayesian, and cooperative and non-cooperative game theoretic equilibrium.This important and comprehensive reference collection is essential reading for all microeconomic and macroeconomic theorists and students.Table of ContentsContents: Volume I: Acknowledgements • Introduction Part I: Historical Perspectives 1. Kenneth J. Arrow and F.H. Hahn (1971), ‘Historical Introduction’ 2. M.L. Myers (1976), ‘Adam Smith’s Concept of Equilibrium’ 3. Peter Flaschel and Willi Semmler (1987), ‘Classical and Neoclassical Competitive Adjustment Processes’ 4. D.J. Harris (1991), ‘Equilibrium and Stability in Classical Theory’ 5. Jean Magnan de Bornier (1992), ‘The “Cournot-Bertrand Debate”: A Historical Perspective’ Part II: Criticisms of the Equilibrium Concept 6. Fritz Machlup (1991), ‘Equilibrium and Disequilibrium: Misplaced Concreteness and Disguised Politics’ 7. Nicholas Kaldor (1972), ‘The Irrelevance of Equilibrium Economics’ 8. Joan Robinson (1974), ‘History Versus Equilibrium’ 9. Nicholas Kaldor (1975), ‘What Is Wrong With Economic Theory’ 10. Nicholas Kaldor (1979), ‘Equilibrium Theory and Growth Theory’ 11. Jack Wiseman (1989), ‘General Equilibrium or Market Process: An Evaluation’ 12. Meyer Burstein (1991), ‘History versus Equilibrium: Joan Robinson and Time in Economics’ 13. Krishna Bharadwaj (1991), ‘History versus Equilibrium’ 14. Charles C. Fischer (1993), ‘On The “Stickiness” Of The Economic Equilibrium Paradigm: Causes of Its Durability’ 15. Mark Blaug (1997), ‘Competition as an End-State and Competition as a Process’ Part III: Meaning and Concepts of Modern Economic Equilibrium Theory 16. Gerard Debreu (1962), ‘New Concepts and Techniques for Equilibrium Analysis’ 17. John S. Chipman (1965), ‘The Nature and Meaning of Equilibrium in Economic Theory’ 18. F.H. Hahn (1973), excerpt from On the Notion of Equilibrium in Economics 19. Kenneth J. Arrow (1974), ‘General Economic Equilibrium: Purpose, Analytic Techniques, Collective Choice’ 20. Alan Coddington (1975), ‘The Rationale of General Equilibrium Theory’ 21. Stephen Smale (1976), ‘Dynamics in General Equilibrium Theory’ 22. John F. Henry (1983-84), ‘On Equilibrium’ 23. Frank Hahn (1984), ‘Introduction’ 24. M.H.I. Dore (1984-85), ‘On the Concept of Equilibrium’ 25. Thomas Frank Kompas (1985), ‘Traditional Notions of Equilibrium Reconsidered’ 26. Jacques Henry (1987), ‘Equilibrium as a Process’ 27. Martin J. Beckmann (1990), ‘The Meaning of General Equilibrium’ 28. Giovanni Caravale (1994), ‘Updating an Old Question: Prices and Quantities’ 29. Paul Milgrom and John Roberts (1994), ‘Comparing Equilibria’ 30. Christian Bidard and Guido Erreygers (1998), ‘The Number and Type of Long-term Equilibria’ Name Index Volume II: Part I: Perfectly Competitive Equilibrium in Virtual Models A Existence 1. E. Roy Weintraub (1983), ‘On the Existence of a Competitive Equilibrium: 1930-54’ 2. John H. Boyd III and Lionel W. McKenzie (1993), ‘The Existence of Competitive Equilibrium over an Infinite Horizon with Production and General Consumption Sets’ 3. Paulo Klinger Monteiro (1994), ‘Inada’s Condition Implies Equilibrium Existence Is Rare’ 4. Kam-Chau Wong (1997), ‘Excess Demand Functions, Equilibrium Prices, and Existence of Equilibrium’ 5. Donald A. Walker (1997), ‘New Perspectives on the Existence of Equilibrium’ B Uniqueness 6. Gerard Debreu (1970), ‘Economies With a Finite Set of Equilibria’ 7. Yves Balasko (1975), ‘Some Results on Uniqueness and on Stability of Equilibrium in General Equilibrium Theory’ 8. Timothy J. Kehoe (1985), ‘Multiplicity of Equilibria and Comparative Statics’ 9. Anjan Mukherji (1997), ‘On the Uniqueness of Competitive Equilibrium’ C Stability 10. Kenneth J. Arrow and Leonid Hurwicz (1960), ‘Competitive Stability Under Weak Gross Substitutability: The “Euclidean Distance” Approach’ 11. Kenneth J. Arrow and Leonid Hurwicz (1962), ‘Competitive Stability Under Weak Gross Substitutability: Nonlinear Price Adjustment and Adaptive Expectations’ 12. Takashi Negishi (1962), ‘The Stability of a Competitive Economy: A Survey Article’ 13. M.G. Allingham (1974), ‘Equilibrium and Stability’ 14. Michael J.P. Magill (1979), ‘The Stability of Equilibrium’ 15. H. Jerome Keisler (1996), ‘Getting to a Competitive Equilibrium’ 16. Yves Balasko (1994), ‘The Expectational Stability of Walrasian Equilibria’ 17. Donald A. Walker (1997), ‘New Perspectives on the Stability and Uniqueness of Equilibrium’ Part II: Non-Virtual Purely Competitive Models 18. Frank H. Hahn and Takashi Negishi (1962), ‘A Theorem on Non-Tâtonnement Stability’ 19. Franklin M. Fisher (1976), ‘A Non-Tâtonnement Model with Production and Consumption’ 20. Franklin M. Fisher (1983), ‘The Development of the Stability Literature’ 21. Francesca Busetto (1995), ‘Why the Non-Tâtonnement Line of Research Died Out’ Part III: Models with Various Forms of Market Imperfection 22. Jacques H. Drèze (1991), ‘On Supply-Constrained Equilibria’ 23. Jean-Pascal Bénassy (1993), ‘Nonclearing Markets: Microeconomic Concepts and Macroeconomic Applications’ 24. Russell Cooper (1994), ‘Equilibrium Selection in Imperfectly Competitive Economies with Multiple Equilibria’ 25. Jean Mercenier (1995), ‘Nonuniqueness of Solutions in Applied General Equilibrium Models with Scale Economies and Imperfect Competition’ 26. P. Jean-Jacques Herings (1996), ‘Equilibrium Existence Results for Economies with Price Rigidities’ 27. Claude d’Aspremont, Rodolphe Dos Santos Ferreira and Louis-André Gérard-Varet (1997), ‘General Equilibrium Concepts under Imperfect Competition: A Cournotian Approach’ Supplementary Reading List Name Index Volume III: Part I: Stationary 1. Truman F. Bewley (1981), ‘Stationary Equilibrium’ 2. D. Duffie, J. Geanakoplos, A. Mas-Colell and A. McLennan (1994), ‘Stationary Markov Equilibria’ 3. Piero Gottardi (1996), ‘Stationary Monetary Equilibria in Overlapping Generations Models with Incomplete Markets’ 4. Robert Becker and Itzhak Zilcha (1997), ‘Stationary Ramsey Equilibria under Uncertainty’ Part II: Temporary 5. Jean-Michel Grandmont (1991), ‘Temporary Equilibrium: Money, Expectations and Dynamics’ 6. Lionello F. Punzo (1991), ‘Comment’ Part III: Underemployment 7. Paola Potestio (1986), ‘Equilibrium and Employment in “The General Theory”’ Part IV: Growth 8. V.M. Polterovich (1977), ‘Models of Equilibrium Economic Growth’ Part V: Rational Expectations 9. George W. Evans and Seppo Honkapohja (1994), ‘Learning, Convergence, and Stability with Multiple Rational Expectations Equilibria’ Part VI: Bayesian 10. Jean-Jacques Laffont (1991), ‘Perfect Bayesian Equilibrium’ Part VII: Game Theoretic Equilibrium A Introduction to Equilbrium in Game Theory and to Nash Equilibrium 11. John F. Nash, Jr. (1950), ‘The Bargaining Problem’ 12. Elon Kohlberg (1990), ‘Refinement of Nash Equilibrium: The Main Ideas’ 13. Adam Brandenburger (1992), ‘Knowledge and Equilibrium in Games’ 14. Dave Furth (1993), ‘Game Equilibrium Modelling’ 15. Robert J. Leonard (1994), ‘Reading Cournot, Reading Nash: The Creation and Stabilisation of the Nash Equilibrium’ 16. Hans Jørgen Jacobsen (1996), ‘On the Foundations of Nash Equilibrium’ B The Core 17. Karl Vind (1995), ‘Perfect Competition or the Core’ 18. Lester G. Telser (1996), ‘Competition and the Core’ C Cooperative Games 19. John Nash (1953), ‘Two-Person Cooperative Games’ 20. Debraj Ray and Rajiv Vohra (1997), ‘Equilibrium Binding Agreements’ D Noncooperative Games 21. Donald Wittman (1993), ‘Nash Equilibrium vs Maximin: A Comparative Game Statics Analysis’ 22. Vijay Krishna and Roberto Serrano (1995), ‘Perfect Equilibria of a Model of N-Person Noncooperative Bargaining’ 23. Ferenc Szidarovszky and Koji Okuguchi (1997), ‘On the Existence and Uniqueness of Pure Nash Equilibrium in Rent-Seeking Games’ E Evolutionary Games 24. George J. Mailath (1998), ‘Do People Play Nash Equilibrium? Lessons From Evolutionary Game Theory’ F Other 25. Gerard Debreu (1954), ‘Valuation Equilibrium and Pareto Optimum’ 26. Frank Hahn (1978), ‘On Non-Walrasian Equilibria’ 27. James Bullard (1994), ‘Learning Equilibria’ 28. Yves Balasko, David Cass and Karl Shell (1995), ‘Market Participation and Sunspot Equilibria’ Supplementary Reading List Name Index

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Book SynopsisTransaction cost economics began to take shape around thirty years ago and has since been established as an essential tool used to illuminate a wide range of problems in economics and other social sciences. This paperback reader for students and scholars presents, in a convenient and accessible form, the articles which together form the foundations of research in transaction cost economics.The volume is divided into three parts: the first part presents the background to the field and includes those path-breaking papers from Coase (1937 and 1972), Williamson (1971) and Alchian and Demsetz (1972). The second part addresses the apparatus of transaction cost economics and includes papers on the structure and limits of firms. The third part presents the applications of transaction cost economics to firm behavior, investment decision-making, contract bidding, regulation and legislation. The editors, themselves distinguished scholars in the field, have written a new introduction which sketches the history of research in the field and offers some thoughts about the future of transaction cost economics.Table of ContentsContents: Introduction Part I: Background Part II: Apparatus Part III: Applications Index

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Book SynopsisThis work on microeconomics offers interpretations of both its strengths and its weaknesses. It shows how the general equilibrium ideas of Walras and Marshall were gradually transformed after 1930 into formalized accounts of imaginary economies where trading never occurs.Trade Review’In this book, Dr Costa has made a substantial addition to the literature that establishes the absence of economic foundations for current general equilibrium models. He rightly emphasizes the lack in them of an account of the behavior of decentralized markets like those which predominate in reality, and indicates respects in which the theoretical formulation of such markets can be undertaken. The book will be profitably studied by students and professors of economics alike.’ -- Donald A. Walker, Indiana University of Pennsylvania, US’Manuel Costa’s General Equilibrium Analysis and the Theory of Markets offers a stealth-like rather than a frontal attack on contemporary microtheory. In it, he painstakingly describes how the general equilibrium ideas of Walras and Marshall - both aimed at describing adjustment processes in real – world markets - were gradually transformed after 1930 into formalized accounts of imaginary economies where trading never occurs even though a central ‘coordinator’ is presumed to oversee the meshing of transistor trading plans and the establishment of ‘competitive equilibrium’ trading prices! The beauty of Costa’s ‘stealth’ approach is its evenhandedness: it offers the same deep understanding of the strengths as of the weaknesses of contemporary microeconomics. Costa’s book thus can be read with as much pleasure and profit - and food for productive thought - by devotees as by opponents of received doctrine.’ -- Robert W. Clower, University of South Carolina, US, Brasenose College, Oxford, UK and University of California, Los Angeles, USTable of ContentsContents: 1. Introduction 2. Walras’s Program and the Neowalrasian Diversion 3. How Standard Price Theory Became Predominantly Neowalrasian 4. On Markets 5. An Afterthought: How Elusive is the Construction of a General Model of Decentralized Exchange? Appendix References

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Book SynopsisThis unique book - informed by ten years' research - focuses on intellectual property and charts the global transition towards intellectual capitalism with technology-based corporations as prime movers. The book gives a comprehensive overview of the history and fundamentals of intellectual property as well as a textbook introduction to the field.The book sheds new light on the economics and management of intellectual property in large corporations in Europe, Japan and the US. Special emphasis is given to strategies for the acquisition and commercialization of new technologies, patent strategies and strategies for secrecy and trademark, technology intelligence and corporate management of intellectual property. It includes an in-depth study of leading large corporations in Japan - including Canon, Hitachi, Toshiba and Sony. In conclusion, it explores the possible evolution of intellectual property management towards a distributed intellectual capital management in the context of a wider transition to intellectual capitalism, fueled by new technologies in general and new infocom technologies in particular.The book will have particular appeal to practitioners such as managers, economists, engineers and lawyers as well as students and scholars of industrial organization, economics of innovation and technical change, and management of technology.Trade Review'It is recommended to managers, economists, engineers and lawyers and for the students and academics researching in the area.' -- The Computer Law and Security Report'. . . Professor Granstrand has achieved a lot in this volume. . . it contains a wealth of very useful material to feed graduate students, particularly those involved in industrial economics MBA courses and other postgraduate economics and management study, as well as offering a detailed look at the realities of IP management for professional managers and policymakers.' -- Christine Greenhalgh, The Economic Journal'As well as all the other fine things in this book, Professor Granstrand has given us a working vocabulary for the debate on these larger issues which is now getting under way, and I have no doubt that it will have wide influence, which it richly deserves.' -- W. Kingston, Journal of Economics/Zeitschrift fur Nationalokonomie'Throughout the book, [Granstrand] instructively compares and contrasts the management of intellectual property in the US, Japan and Europe. The first section, on the philosophy, history and economics of intellectual property, is very detailed and displays an excellent grasp of the many strands of literature on this subject. . . . Granstrand does an excellent job of organizing an immense quantity of material on intellectual property.' -- M. Perelman, Choice'Professor Ove Granstrand furnishes us with useful suggestions for effective intellectual property (IP) management using the detailed analysis of data and facts on the Japanese industries which have successfully developed since World War II. He repeatedly visited Japan and conducted many interviews with corporate IP experts and top management. This book is really informative for not only those interested in IP but also R&D leaders and those in top business management.' -- Akira Mifune, TheraTech Japan Inc., Japan'Ove Granstrand's book takes the reader into uncharted waters: the waters of an Intellectual Capitalism that promises to restructure the organization of economic life in the 21st century. In the course of his examination he shines the spotlight on recent developments in Japanese corporate capitalism that will prove to be highly illuminating to western readers.' -- Nathan Rosenberg, Stanford University, US'This insightful book analyzes developments in Japan, Sweden, and the United States to illuminate the increasing emphasis placed on intellectual property in corporate strategies.' -- F.M. Scherer, Harvard University and Princeton University, USTable of ContentsContents: Preface 1. From Intellectual Property to Intellectual Capitalism 2. Philosophy and History of Intellectual Property 3. Patents and Intellectual Property: A General Framework 4. The Technology-Based Firm: A General Framework 5. Japanese Patenting – An Overview 6. Technology and Commercialization Strategies 7. Intellectual Property Policies and Strategies 8. Intellectual Property Organization and Management 9. Analysis of Patent Information 10. Intellectual Capitalism and Beyond Index

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Book SynopsisThis seminal work offers a carefully edited collection of Ryuzo Sato's pioneering contributions to the analysis of the theories of production, preference, stability and dynamic symmetry in economics.The author examines production functions and preference functions containing both goods and money and studies the stability of general equilibrium systems and economic conservation laws. The book also includes Professor Sato's groundbreaking work on the application of Lie group theory to the estimation of technical progress.This important book will be welcomed by scholars interested in technical change and progress.Table of ContentsContents: Introduction Part I: Production and Preferences Part II: Stability Part III: Dynamic Invariance

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Book SynopsisThis important book presents a new original study of the German and UK financial markets. It addresses the relationship between corporate governance, ownership and financial performance in German and UK firms floated during the 1980s.Marc Goergen uses detailed company micro-data to examine the ownership and performance of each firm from the time of its flotation to six years later. He finds that the evolution of ownership depends on certain corporate characteristics and that differences in financial performance cannot be explained simply by differences in the concentration of ownership. The book sheds new light on the important issue of whether corporate ownership influences or is influenced by financial performance.The main findings of the book have important implications for public policy and the current public debate on corporate governance and the globalisation of financial markets. They are important for established financial markets and the transitional economies of Eastern and Central Europe as well as for international scholars interested in issues of corporate governance and the performance of firms.Trade Review'. . . the overall contribution of the volume is considerable. It deserves to be read by anyone interested in comparative aspects of the corporate governance debate.' -- Steve Thompson, The Economic Journal'Using two sharply contrasting markets, Marc Goergen draws valuable lessons about the dynamics of company ownership and financial performance. This deeply researched book is an important contribution to the growing debate about the role of financial markets as Europe moves towards the single currency.' -- David Lascelles, Centre for the Study of Financial Innovation'An excellent study of both ownership and new issue markets in Germany. A text that will inform both scholars and students interested in how European capital markets work.' -- Julian Franks, London Business School, UKTable of ContentsContents: Preface 1. Introduction 2. Theory and Empirical Research 3. The German and UK Capital Markets 4. The Evolution of Ownership and Control in German IPO’s 5. British and German IPO’s – A Comparison 6. Explaining the Evolution of Ownership 7. Do German Firms have a Better Performance? 8. Conclusion and Policy Implications Bibliography Index

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Book SynopsisIn this book, Nancy and Richard Ruggles demonstrate their unique grasp of the measurement and analysis of macro and micro data and elucidate ways of integrating the two data sets.Their analysis of macrodata is used to examine the economic growth of the United States from the 1920s to the present day. They focus particularly on recession and recovery between 1929 and 1974 and the measurement of short-run economic growth. They also examine the measurement of saving, investment and capital formation in the United States. On a microeconomic level, they analyse economic intelligence in World War II, offer a study of fertility in the United States in the pre-war era and analyse longitudinal establishment data. Finally they integrating the two approaches to provide a method of providing a more complete picture of social and economic performance.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'The essays collected in this volume represent pioneering work by Nancy and Richard Ruggles on both the integration of micro and macro accounting data and the development of microdata . . . [They] have wide-ranging implications for modern theories of savings and investment.' -- From the foreword by Edward N. WolffTable of ContentsContents: Preface Part I: Macroanalysis 1. Recession and Recovery in the United States, 1929–74, and Sectoral Saving and Investment Accounts 2. Economic Growth in the Short Run 3. Theoretical Concepts and Empirical Measurement of Saving and Investment 4. Household and Enterprise Saving and Capital Formation in the United States, 1947–91 5. Accounting for Saving and Capital Formation in the United States, 1947–91 Part II: Microanalysis 6. An Empirical Approach to Economic Intelligence in World War II 7. A Study of Differential Fertility Based on Census Data 8. A Strategy for Merging and Matching Microdata Sets 9. Merging Microdata 10. The Analysis of Longitudinal Establishment Data Part III: The Integration of Macro- and Microdata 11. Methodological Developments 12. Macroaccounts and Microdata Sets 13. The Relation of Methodology to the Technology of Economic Research 14. The Role of Microdata in the National Economic Accounts 15. Social Indicators and a Framework for Social and Economic Accounts 16. The Measurement of Economic and Social Performance 17. The Development of Integrated Data Bases for Social, Economic and Demographic Statistics 18. The Integration of Macro- and Microdata for the Household Sector 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 SynopsisThe contributors to this collection of seven essays (plus an editor's introduction and a comparative afterword) have framed debates about the construction of commercial culture in China. They all have agreed that during the early twentieth century China's commercial culture was centered in the private sector of Shanghai's economy and especially in the "concession" areas under Western or Japanese rule, but they have differed over the issue of whether foreign influence was decisive in the creation of Shanghai's commercial culture. Between 1900 and 1937, was Shanghai's commercial culture imported from the West or invented locally? And between 1937 and 1945, was the history of this commercial culture cut short by Japanese military invasions and occupations of the city or was it sustained throughout the war? The contributors have proposed various and even conflicting answers to these questions, and their interpretations bear upon wider debates in historical, cultural, and comparative studies.Trade ReviewAdmirably compact and coherent, Inventing Nanjing Road is an excellent sampler of current research on the development of business, advertisement, entertainment, and urban life-styles in modern Shanghai. The essays in this volume, which introduce the field's intellectual issues, as well as the colorful sources available to address them, will attract new researchers to the field. For use in undergraduate and graduate classes on Chinese urban history. * Journal of Asian Studies *Provides a comprehensive and in-depth analysis of how commercial culture was constructed in Shanghai in the first decades of the twentieth century. * Bulletin of the School of Oriental and African Studies *

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Book SynopsisThe contributors to this collection of seven essays (plus an editor's introduction and a comparative afterword) have framed debates about the construction of commercial culture in China. They all have agreed that during the early twentieth century China's commercial culture was centered in the private sector of Shanghai's economy and especially in the "concession" areas under Western or Japanese rule, but they have differed over the issue of whether foreign influence was decisive in the creation of Shanghai's commercial culture. Between 1900 and 1937, was Shanghai's commercial culture imported from the West or invented locally? And between 1937 and 1945, was the history of this commercial culture cut short by Japanese military invasions and occupations of the city or was it sustained throughout the war? The contributors have proposed various and even conflicting answers to these questions, and their interpretations bear upon wider debates in historical, cultural, and comparative studies.Trade ReviewAdmirably compact and coherent, Inventing Nanjing Road is an excellent sampler of current research on the development of business, advertisement, entertainment, and urban life-styles in modern Shanghai. The essays in this volume, which introduce the field's intellectual issues, as well as the colorful sources available to address them, will attract new researchers to the field. For use in undergraduate and graduate classes on Chinese urban history. * Journal of Asian Studies *Provides a comprehensive and in-depth analysis of how commercial culture was constructed in Shanghai in the first decades of the twentieth century. * Bulletin of the School of Oriental and African Studies *

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Book SynopsisBack in 2009, a group of people came together to try to create a currency that would change the economic system for the better. They called it the Bristol Pound. By 2015 it was one of the world's most prominent local currencies, featured in the Financial Times and Time Magazine, and even covered by Chinese state television. However, the Bristol Pound stopped circulating in 2021, and in 2023 the organisation finally wound up. Drawing on the lessons learned as Bristol Pound's managing director, the author examines the theory and practice behind many new economic ideas. What really is money'? Can we imagine an economic system that prioritises non-financial value? Can we create a post-market economy? The author's conclusions shape a new narrative and understanding that will forever change how you think of money and the economy.

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Book SynopsisContainer shipping is a vital part of the global economy. Goods from all around the world, from vegetables to automobiles, are placed in large metal containers which are transported across the ocean in ships, then loaded onto tractor-trailers and railroad flatbeds. But when and where did this world-changing invention get started? This fascinating study traces the birth of containerization to Port Newark, New Jersey, in 1956 when trucker Malcom McLean thought of a brilliant new way to transport cargo. It tells the story of how Port Newark grew rapidly as McLean’s idea was backed by both New York banks and the US military, who used containerization to ship supplies to troops in Vietnam. Angus Gillespie takes us behind the scenes of today’s active container shipping operations in Port Newark, talking to the pilots who guide the ships into port, the Coast Guard personnel who help manage the massive shipping traffic, the crews who unload the containers, and even the chaplains who counsel and support the mariners. Port Newark shines a spotlight on the unsung men and women who help this complex global shipping operation run smoothly. Since McLean's innovation, Port Newark has expanded with the addition of the nearby Elizabeth Marine Terminal. This New Jersey complex now makes up the busiest seaport on the East Coast of the United States. Some have even called it “America’s Front Door.” The book tells the story of the rapid growth of worldwide containerization, and how Port Newark has adapted to bigger ships with deeper channels and a raised bridge. In the end, there is speculation of the future of this port with ever-increasing automation, artificial intelligence, and automation.Trade Review"A must-read if one is to understand the shipping world of today." — Power Ships Magazine " Angus Gillespie has done it again: written a book that is as informative as it is exciting." — Michael A. Rockland, Professor Emeritus of American Studies, Rutgers University "Port Newark takes a fresh look at the often-overlooked history of containerization, beginning with its inception in 1956. Gillespie’s writing is free of academic jargon, richly illustrated, and readable. Port Newark is essential reading for all maritime aficionados."— Daniel A. Dermer, Central Jersey Council, Navy League of the United States "Angus Gillespie tells a riveting story that includes political intrigue, labor conflict, crime, racial strife, charity work, and the impacts of globalization. The narrative of Port Newark, one of the busiest ports on earth, is about a small point on the map. Yet its story is the story of the consumer world we live in."— Simon J. Bronner, author of Americanness: Inquiries into the Thought and Culture of the United StatesTable of ContentsForeword by Michael Aaron Rockland Preface Introduction 1 Early Historical Background 2 The Post–World War II Era 3 The Invention of Containerization 4 The Rapid Growth of Containerization 5 From the Ocean to the Docks 6 Navigation 7 Pilotage 8 Tugboats 9 The Contemporary Port 10 Moving the Freight 11 The Seamen’s Church Institute 12 The Future Acknowledgments Notes Index

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Book SynopsisMoney occupies a powerful place in our lives – it is a problem, a goal, and motivator, a measure of self-worth and national progress, and even an influence on how we relate to each other and to nature – but what happens when communities start to reinvent money and markets? Over the last twenty-five years, grassroots activists in Medellín, Colombia, have used barter markets and community currencies as one strategy to re-weave a social fabric shredded by violence and to establish an economy founded on respect and reciprocity rather than exploitation. In Social Exchange, Brian J. Burke provides a deep ethnographic investigation of this activism and its effects. This story draws us into the cultural and material effects of capitalism and narco-violence, while also helping us understand what new radical imaginations look like and how people bring them to life. The result is an intimate glimpse of urban life in Latin America, as well as a broader analysis of non-capitalist or post-capitalist possibility.Trade Review"Brian Burke has produced a rich, wonderfully evocative and thickly described portrayal of the real economy through which millions of us make livelihoods and struggle, imperfectly, for something better. Latin America has often been inspirational to those of us in the neoliberalized North, and here you will find inspiration from a close observation of early experiments in developing economies where what matters is living well rather than endless growth." -- Peter North * author of Money and Liberation: The Micropolitics of Alternative Currency Movements *"With theoretical depth and accessible writing, Burke brings lucid ethnographic and historical context to an analysis of the possibilities and constraints on diverse economic experimentation, both as a mode of survival and of transformation in Medellin. Burke joins this ethnographic realism with a stance towards possibility; he details how barter networks interrupt capitalist logics and desires, rework space and place, shift social relations, and most importantly cultivate subjectivities at the level of everyday practice and engagement. This is an important book for anyone interested in understanding and advancing post-capitalist imaginings and practices." -- Boone Shear * co-editor of Learning Under Neoliberalism: Ethnographies of Governance in Higher Education *"Brian Burke has produced a rich, wonderfully evocative and thickly described portrayal of the real economy through which millions of us make livelihoods and struggle, imperfectly, for something better. Latin America has often been inspirational to those of us in the neoliberalized North, and here you will find inspiration from a close observation of early experiments in developing economies where what matters is living well rather than endless growth." -- Peter North * author of Money and Liberation: The Micropolitics of Alternative Currency Movements *"With theoretical depth and accessible writing, Burke brings lucid ethnographic and historical context to an analysis of the possibilities and constraints on diverse economic experimentation, both as a mode of survival and of transformation in Medellin. Burke joins this ethnographic realism with a stance towards possibility; he details how barter networks interrupt capitalist logics and desires, rework space and place, shift social relations, and most importantly cultivate subjectivities at the level of everyday practice and engagement. This is an important book for anyone interested in understanding and advancing post-capitalist imaginings and practices." -- Boone Shear * co-editor of Learning Under Neoliberalism: Ethnographies of Governance in Higher Education *Table of Contents Preface Introduction 1 Diverse Economies in the War System 2 The Birth of Barter 3 A Day at the Market: Barter Livelihoods, Ethics, and Pleasure 4 What Barter Stimulates: Economic and Social Impacts 5 “A Barter That Runs through Our Veins”: Culture, Power, and Subjectivity 6 Strategies for a New Economy: Bridges, Boundaries, Culture, and Economy Conclusion: “Para que Cambiemos” Acknowledgments Notes References Index

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Book SynopsisMoney occupies a powerful place in our lives – it is a problem, a goal, and motivator, a measure of self-worth and national progress, and even an influence on how we relate to each other and to nature – but what happens when communities start to reinvent money and markets? Over the last twenty-five years, grassroots activists in Medellín, Colombia, have used barter markets and community currencies as one strategy to re-weave a social fabric shredded by violence and to establish an economy founded on respect and reciprocity rather than exploitation. In Social Exchange, Brian J. Burke provides a deep ethnographic investigation of this activism and its effects. This story draws us into the cultural and material effects of capitalism and narco-violence, while also helping us understand what new radical imaginations look like and how people bring them to life. The result is an intimate glimpse of urban life in Latin America, as well as a broader analysis of non-capitalist or post-capitalist possibility.Trade Review"Brian Burke has produced a rich, wonderfully evocative and thickly described portrayal of the real economy through which millions of us make livelihoods and struggle, imperfectly, for something better. Latin America has often been inspirational to those of us in the neoliberalized North, and here you will find inspiration from a close observation of early experiments in developing economies where what matters is living well rather than endless growth." -- Peter North * author of Money and Liberation: The Micropolitics of Alternative Currency Movements *"With theoretical depth and accessible writing, Burke brings lucid ethnographic and historical context to an analysis of the possibilities and constraints on diverse economic experimentation, both as a mode of survival and of transformation in Medellin. Burke joins this ethnographic realism with a stance towards possibility; he details how barter networks interrupt capitalist logics and desires, rework space and place, shift social relations, and most importantly cultivate subjectivities at the level of everyday practice and engagement. This is an important book for anyone interested in understanding and advancing post-capitalist imaginings and practices." -- Boone Shear * co-editor of Learning Under Neoliberalism: Ethnographies of Governance in Higher Education *"Brian Burke has produced a rich, wonderfully evocative and thickly described portrayal of the real economy through which millions of us make livelihoods and struggle, imperfectly, for something better. Latin America has often been inspirational to those of us in the neoliberalized North, and here you will find inspiration from a close observation of early experiments in developing economies where what matters is living well rather than endless growth." -- Peter North * author of Money and Liberation: The Micropolitics of Alternative Currency Movements *"With theoretical depth and accessible writing, Burke brings lucid ethnographic and historical context to an analysis of the possibilities and constraints on diverse economic experimentation, both as a mode of survival and of transformation in Medellin. Burke joins this ethnographic realism with a stance towards possibility; he details how barter networks interrupt capitalist logics and desires, rework space and place, shift social relations, and most importantly cultivate subjectivities at the level of everyday practice and engagement. This is an important book for anyone interested in understanding and advancing post-capitalist imaginings and practices." -- Boone Shear * co-editor of Learning Under Neoliberalism: Ethnographies of Governance in Higher Education *Table of Contents Preface Introduction 1 Diverse Economies in the War System 2 The Birth of Barter 3 A Day at the Market: Barter Livelihoods, Ethics, and Pleasure 4 What Barter Stimulates: Economic and Social Impacts 5 “A Barter That Runs through Our Veins”: Culture, Power, and Subjectivity 6 Strategies for a New Economy: Bridges, Boundaries, Culture, and Economy Conclusion: “Para que Cambiemos” Acknowledgments Notes References Index

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

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Book SynopsisThis textbook explains comprehensively and in rigorous detail not only mainstream microeconomics, but also why many economists are dissatisfied with major aspects of it, and the alternative that they are exploring in response: the Classical-Keynesian-Kaleckian approach. This advanced yet user-friendly book allows readers to grasp the standard theory of consumers, firms, imperfect competition, general equilibrium, uncertainty, games and asymmetric information. Furthermore, it examines the classical approaches to value and income distribution advocated by Adam Smith, David Ricardo and Karl Marx, as well as Post-Keynesian pricing theory, and the microeconomics of variable capacity utilization. Using simple models, it highlights the analytical roots of the important differences between the marginal/neoclassical approach and the classical-Keynesian, critically examining the plausibility and reciprocal consistency of their assumptions.The book also addresses various microeconomic issues not generally included in advanced microeconomics textbooks, including differential land rent, joint-production long-period pricing, capital theory from Walras to the Cambridge debates, the foundations of aggregate production functions, the microeconomics of labor markets, and the long-period theory of wages. Lastly, it presents a unique re-evaluation of welfare economics. Intended for advanced undergraduate and graduate microeconomics courses, this textbook offers a comprehensive introduction to the various approaches and different schools of thought currently competing in the context of economic theory. It can also be used in courses on value and distribution, heterodox economics, and the history of economic analysis. In the present situation, characterized by scientific uncertainty and the co-existence of competing approaches, it will stimulate students to form their own opinion as to which approach appears more promising from a scientific standpoint.Trade Review“This is both an enormous book and a huge achievement by the Sienese economist Fabio Petri. … The volume is to be highly recommended both as a study book and a reference work to students and lecturers of economics and the history of economic analysis interested in the analytical cores of alternative theories – classical, Marxian, neoclassical, Keynesian and Kaleckian. … He is to be congratulated for a remarkable achievement.” (Heinz D. Kurz, The European Journal of the History of Economic Thought, Vol. 29 (5), 2022)Table of ContentsThe Classical or Surplus Approach.- Long-Period Prices.- Introduction to the Marginal Approach.- Consumers, and the Exchange Economy.- Firms, Partial Equilibria, and the General Equilibrium with Production.- Existence, Uniqueness and Stability of Non-capitalistic General Equilibria.- Capital: Long-Period Equilibria.- Intertemporal Equilibrium, Temporary Equilibrium.- Uncertainty and General Equilibrium.- Back to Long-Period Prices.- Games and Information.- Product Markets: Pricing, Capacity, Investment, Imperfect Competition.- Labour Markets and Income Distribution.- Welfare, Externalities, Public Goods, Happiness.- Mathematical Review.

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Book SynopsisThis open access book addresses four standard business school subjects: microeconomics, macroeconomics, finance and information systems as they relate to trading, liquidity, and market structure. It provides a detailed examination of the impact of trading costs and other impediments of trading that the authors call “frictions”. It also presents an interactive simulation model of equity market trading, TraderEx, that enables students to implement trading decisions in different market scenarios and structures. Addressing these topics shines a bright light on how a real-world financial market operates, and the simulation provides students with an experiential learning opportunity that is informative and fun.Each of the chapters is designed so that it can be used as a stand-alone module in an existing economics, finance, or information science course. Instructor resources such as discussion questions, Powerpoint slides and TraderEx exercises are available online.Table of ContentsChapter 1: Economics and the Equity Market: A Microeconomics Course Application.- Chapter 2: Liquidity, Trading, and Price Determination in Equity Markets: A Finance Course Application.- Chapter 3: Liquidity and the Impact of Information Shocks: A Macroeconomics Course Application.- Chapter 4: Trading and Technology: An Information Systems Course Application.- Chapter 5: Experiencing Market Dynamics with TraderEx: A Trading Decision-Making Simulation.

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Book SynopsisThis textbook provides a comprehensive and unique introduction to modern microeconomics. It adopts an integrative approach, positioning the main findings of economics in a broader context. It critically reflects on theories from a philosophical standpoint and compares them to approaches found in the social sciences, while at the same time highlighting the implications for the design of legal systems and business practices.Intended for undergraduate students, the book presents brief examples and comprehensive case studies to help them grasp the real-world implications of the theories. As such, it is suitable for an applied, yet technically precise approach to teaching microeconomics, as well as for a critical review of the economic mainstream. Starting from the question as to why and how societies organize economic activity, it analyzes the potential and limitations of various types of market with regard to alleviating scarcity and achieving distributive objectives, from an institutional perspective.This second edition systematically expands on decision theory by including chapters on traditional decision theory under risk and uncertainty, and on behavioral economics, as well as a chapter presenting findings from the neurosciences, evolutionary psychology, and narrative psychology. Furthermore, there are theoretical additions, along with updated case studies and examples – from trade wars to pandemics and the climate crisis.A new edition of the companion workbook features a wealth of exercises, ranging from basic multiple-choice questions to challenging mathematical problems and case studies, is also available.Table of ContentsIntroduction: First Principles.- Gains from Trade.- A Primer in Markets and Institutions: Introduction.- Supply and Demand Under Perfect Competition.- Normative Economics.- Externalities and the Limits of Markets.- Foundations of Demand and Supply: Decisions and Consumer Behavior.- Costs.- Firm Behavior and Industrial Organization: A Second Look at Firm Behavior Under Perfect Competition.- Firm Behavior in Monopolistic Markets.- Principles of Game Theory.- Firm Behavior in Oligopolistic Markets.- Appendix: A Case Study.- Mathematical Appendix.

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Book SynopsisThis Second Edition updates the companion workbook to match the new edition of the textbook Principles of Microeconomics. Each chapter features a wide variety of exercises, ranging from basic multiple-choice questions to challenging mathematical problems and case study scenarios. The textbook pursues an integrative approach to modern microeconomics by critically reflecting on the main findings of economics from a philosophical standpoint and comparing them to approaches found in the social sciences. It adopts an institutional perspective to analyze the potential and limitations of different market types, and highlights implications for the design of the legal system and business practices throughout. In addition to traditional rational-choice models, important findings from behavioral economics and psychology are also presented.Table of ContentsFirst Principles.- Gains from Trade.- Markets and Institutions - Introduction.- Supply and Demand.- Normative Economics.- Externalities.- Decisions and Consumber Behavior.- Costs.- A Second Look.- Firm Behavior in Monopolistic Markets.- Principles of Game Theories.- Firm Behavior in Oligopolistic Markets.- Elasticity.

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Book SynopsisThis textbook presents a systematic study of terrorism from the standpoint of economic analysis. Choosing the kind and level of measures to counter terror is, to a large extent, an economic decision, as counterterrorism (CT) measures and their side effects are costly. This text, contains theoretical models that illustrate the economic mechanisms of different types of CT measures. A vast array of empirical studies and regularities are also presented. Some chapters discuss in depth the empirical results in the literature as well as the underlying statistical/econometric methodologies that go beyond ordinary regression. General Appendix A provides an exposition of the concept of compensating surplus and elements of the basic game theory, to help the reader with an economics background recapitulate micro theory concepts used in the book. General Appendix B lays out the notions of hypothesis testing, regression and more advanced statistical/econometric methods, so that the reader understands or at least can have an intuitive idea of how the results are derived and what they mean with some degree of inner comfort. Aimed at students at the intermediate undergraduate and graduate levels, the text requires knowledge of basic micro, first-order conditions of profit or utility maximization and cost minimization, and statistical concepts of hypothesis testing and regression. This textbook is intended for use in courses in economics, political science, criminal justice, and emergency management. Additionally, professionals working with national security in government and non-governmental organizations may find it useful. Table of Contents1. Introduction.- 2. Origin, Objective and History of Terrorism and Terrorist Organizations.- 3. Tracking Terror: Trends and Patterns.- 4. Cost of Organizing, and, Financing of Terror.- 5. Economic Costs of Terrorism and Costs of Counter-Terrorism Measures.- 6. Economic and Health Effects of Terrorism.- 7. Behavior, Internal Organization and Survival of Terror Groups.- 8. Security.- 9. Preemptive Strikes, CanWe Win the War on Terror?.- 10. Combating Financing of Terror.- 11. Security-Deterrence ‘and’ Preemptive Measures.- 12. Hostage-Taking, Ransom and Negotiations.- 13. Combining Preventive Measures with Preemptive Measures.- 14. Religious Orthodoxy and Terrorism.- 15. Root, Breeding and Propagative Causes of Terrorism.

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Book SynopsisRevised and updated for the 2nd edition, this textbook provides an analysis and investigation of the most essential areas of environmental economic theory and policy, including international environmental problems. The approach is based on standard theoretical tools, in particular equilibrium analysis, and aims to demonstrate how economic principles can help to understand environmental issues and guide policymakers. Current topics including climate change, overfishing and integrated approaches to environmental policies are carefully analyzed in this framework, and a multitude of practical examples from various parts of the world is presented. Addressing undergraduate and graduate students, this book is a must read for everybody interested in a better understanding of environmental economics. Table of ContentsIntroduction.- PART I THE ENVIRONMENTAL MOVEMENT.- Differing Views on the Environment.- The International Dimension of the Environment.- PART II THEORETICAL ENVIRONMENTAL ECONOMICS.- Basics of Environmental Economics.- Allocation Problems in a Market Economy.- The Internalization of External Effects.- Public Goods in Environmental Economics.- PART III ENVIRONMENTAL POLICY.- From Theory to Policy: Information Deficits.- Command-and-Control Policy.- The Price-Standard Approach to Environmental Policy.- International Environmental Commodities and the Principal-Agent-Approach.- Holistic Environmental Policies.- PART IV THE ENVIRONMENT IN THE GLOBALIZED WORLD.- Trade and the Environment: The Legal Context.- Overfishing.- Integration of Trade and the Environment.

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Book SynopsisThis open access book examines how different economic systems impacted the development of East Germany and Poland. Through comparing these countries while they were centrally planned socialist economies with the periods when they transitioned to capitalism, the inability of socialist economies to modernize effectively and produce sustained economic growth is highlighted. Particular attention is given the role of technological progress in economic growth, peculiar institutions, the creation and transfer of knowledge, and post-socialist transformations. The book presents a detailed analysis of the barriers to modernization and growth implied by Soviet-type state socialism and the differences and similarities between the transition of East Germany and Poland to capitalist market economies. It will be relevant to students and researchers interested in comparative systems and the political economy.Table of Contents1. Introduction.- 2. From East to West: Modernization efforts in the northern and western regions of Poland (1944-1989).- 3. The importance of technical progress for economic growth in the GDR .- 4. Inefficiency and intransparency in East German foreign trade.- 5. Historical Legacies of Regional Innovation Activity.- 6. Catching-up modernization: Synthetic fibre in the GDR and Poland.- 7. The re-allocation of entrepreneurial talent over the course of radical institutional change – an institutional perspective.- 8. When backwardness became an advantage: Stays abroad as birth assist in Polish transformation.- 9. Transfer of knowledge from the outside or self-learning? Key success criteria for setting-up enterprises in East Germany and Poland after 1989.- 10. GDR’s researchers catching up on their inclusion in international scientific communities.- 11. After 1989: Socialist elites and post-socialist transformations.

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Book SynopsisChapter 1. Introduction. Scarcity, opportunity cost, and comparative advantage.- Chapter 2. Supply, demand, and equilibrium.- Chapter 3. Consumer surplus and producer surplus.- Chapter 4. Elasticity.- Chapter 5. Government intervention: price ceilings, price floors, and taxes.- Chapter 6. Externalities and types of goods.- Chapter 7. Consumer choice.- Chapter 8. Production and costs.- Chapter 9. Perfect competition.- Chapter 10. Monopoly.- Chapter 11. Monopolistic competition.- Chapter 12. Oligopoly and game theory

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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.

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Book SynopsisThis is the companion workbook for the textbook Principles of Microeconomics. Each chapter features a wide variety of exercises, ranging from basic multiple-choice questions to challenging mathematical problems and case study scenarios.  The textbook pursues an integrative approach to modern microeconomics by critically reflecting on the main findings of economics from a philosophical standpoint and comparing them to approaches found in the social sciences. It adopts an institutional perspective to analyze the potential and limitations of different market types, and highlights implications for the design of the legal system and business practices throughout. In addition to traditional rational-choice models, important findings from behavioral economics and psychology are also presented.

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