Microeconomics Books

Book SynopsisWhat do Goggle, Facebook, mobile phones and creative commons have in common? The answer is: economics! Stefano Comino and Fabio Manenti have written a crisp and thorough treatment of the economics of information and communications technologies. This valuable book fills a real gap in the market.'- Professor Tommaso Valletti, Imperial College Business School'I enjoyed reading this book immensely. So will students, as they will be able to see lucidly the economics behind their inseparable electronic companions. Researchers keeping a copy at hand will have a rich reference source of the ways in which good economic theory has captured the behaviour of sophisticated firms and their customer.'- Gianni De Fraja, The University of Nottingham, UKThis text rigorously blends theory with real-world applications to study the industrial organization of the ICT sector. Each of the self-contained chapters, which can be studied in isolation, contains theoretical models that are presented in a clear and accessible way. Throughout, a series of useful boxes complements and elucidates the theories with additional empirical/anecdotal evidence. This text will be of great interest to advanced undergraduate students with a background in microeconomics and game theory, particularly those taking courses in industrial organization, innovation economics and the economics of networks.The authors address the most important issues and are able to explore and explain complex theories and concepts in a clear, logical and coherent manner.Some of the topics covered include:- the economics of innovation- digital markets- network externalities- two-sided networks- imitation, open source and file sharing- antitrust in high-tech sectors.Contents: 1. Industrial Organisation of High-Tech Markets 2. Digital Markets 3. Network Externalities 4. Two-Sided Networks 5. Access and Interconnection in Telecommunications 6. Cumulative Innovation in Dynamic Industries 7. Imitation, Open Source and File Sharing 8. Antitrust in High-Tech Sectors References IndexTrade Review‘What do Google, Facebook, mobile phones and creative commons have in common? The answer is: economics! Stefano Comino and Fabio Manenti have written a crisp and thorough treatment of the economics of information and communications technologies. This valuable book fills a real gap in the market.’ -- Tommaso Valletti, Imperial College Business School, UK‘I enjoyed reading this book immensely. So will students, as they will be able to see lucidly the economics behind their inseparable electronic companions. Researchers keeping a copy at hand will have a rich reference source of the ways in which good economic theory has captured the behaviour of sophisticated firms and their customer.’ -- Gianni De Fraja, The University of Nottingham, UKTable of ContentsContents: 1. Industrial Organisation of High-Tech Markets 2. Digital Markets 3. Network Externalities 4. Two-Sided Networks 5. Access and Interconnection in Telecommunications 6. Cumulative Innovation in Dynamic Industries 7. Imitation, Open Source and File Sharing 8. Antitrust in High-Tech Sectors References Index

Read more less

Book SynopsisThis challenging book tackles one of the most fundamental questions in economics: Why are commercial organizations more efficient than organizations in the public domain?It is generally accepted that the traditional answer (the fact that commercial organizations maximize profits) does not necessarily hold true. Finding a solution to this anomaly, as this book attempts to do, should therefore be a prime concern in economics. The authors believe the answer lies in the fact that even in a completely stable environment, all organizations will eventually fail irreparably. Organizations operating in the market are more efficient because, once in decline, they are 'free to fail' and allowed to be disassembled or even replaced. Public organizations that fail are more often than not protected and allowed to continue even though their efficiency is questionable.This fascinating and thought-provoking book will provide a stimulating read for academics and students with an interest in economics, business and management and public policy.Contents:Preface 1. Introduction 2. Key Concepts 3. The Historic Debate 4. Profit Maximization is Only Part of the Answer 5. Organizational Mortality and its Fruits 6. Causes of Organizational Failure 7. Uncontrollability 8. Empirical Evidence 9. The Soft Constraint Syndrome 10. When Left to its Own Devices 11. Necrosis and Apoptosis 12. Why Public Organizations? Appendix: The Dutch Affair or the Destructive Power of Organizational Warfare References IndexTrade ReviewFree to Fail offers a thought-provoking perspective on what happens to organizations, and introduces a new organizational failure theory of ''uncontrollability''. Uncontrollability theory furnishes a novel and alternative reason to profit maximization for why private sector organizations tend to be more efficient than public sector organizations. Free to Fail is thought-provoking and fun to read, and can be warmly recommended to anyone interested in learning about how organizations fail and the broader social and economic implications of organizational mortality.' --Simon C. Parker, University of Western Ontario, Canada'Free to Fail provides an exceptionally rigorous analysis of many extant theories of organizational failure, persuasively demonstrating that organizational control - or the inherent and inevitable lack thereof - is the most proximate and important source of demise.' --David Lowery, Pennsylvania State University, USTable of ContentsContents: Preface 1. Introduction 2. Key Concepts 3. The Historic Debate 4. Profit Maximization is Only Part of the Answer 5. Organizational Mortality and its Fruits 6. Causes of Organizational Failure 7. Uncontrollability 8. Empirical Evidence 9. The Soft Constraint Syndrome 10. When Left to its Own Devices 11. Necrosis and Apoptosis 12. Why Public Organizations? Appendix: The Dutch Affair or the Destructive Power of Organizational Warfare References Index

Read more less

Book SynopsisMost macroeconomists agree that we live in the age of microfoundations. The recent worldwide financial crisis may have emboldened critics of this microfoundational orthodoxy, but it remains the dominant view that macroeconomic models must go beyond supply and demand functions to the level of individual decision-making, taking into account the general dynamic environment where agents live. Microfoundations Reconsidered seeks to reassess how the relationship of micro and macroeconomics evolved over time. The highly regarded contributors to the book argue that the standard narrative of microfoundations is likely to be unreliable. They therefore re-examine the history of the relationship of microeconomics and macroeconomics, starting from their emergence as self-consciously distinct fields within economics in the early 1930s. They seek to go beyond the conventional history that is often told and written by practicing economists. From different perspectives they challenge the association of microfoundations with Robert Lucas and rational expectations and offer both a more complete and a deeper reading of the relationship between micro and macroeconomics. Microfoundations Reconsidered is a valuable addition to the macroeconomic research literature. It is ideally suited to students, scholars, researchers, and practitioners with an interest in macro and microeconomics and the history of economics. Contributors: M. De Vroey, P. Garcia Duarte, D.W. Hands, K.D. Hoover, R. Leonard, G.T. Lima, P.E. MirowskiTrade Review‘. . . this book is very well done. The coverage is in-depth and serious, coming from several different angles methodologically and historically. All the essays are thoughtful and well informed, the net result, indeed, to make clear the foundations of the microfoundations-to-macro approach and its various forms and complications. Deeply informative and mot worthy of serious attention and consideration in this well-edited and -written book.' -- J. Barkley Rosser, Jr., Journal of the History of Economic ThoughtTable of ContentsContents: Foreword John B. Davis Introduction: Privileging Micro Over Macro? A History of Conflicting Positions Pedro Garcia Duarte and Gilberto Tadeu Lima 1. Microfoundational Programs Kevin D. Hoover 2. From Foundational Critique to Fictitious Players: The Curious Odyssey of Oskar Morgenstern Robert Leonard 3. The Rise and Fall of Walrasian Microeconomics: The Keynesian Effect D. Wade Hands 4. The Cowles Commission as an Anti-Keynesian Stronghold 1943–54 Philip E. Mirowski 5. Microfoundations: A Decisive Dividing Line between Keynesian and New Classical Macroeconomics? Michel De Vroey 6. Not Going Away? Microfoundations in the Making of a New Consensus in Macroeconomics Pedro Garcia Duarte Index

Read more less

Book SynopsisIn this challenging book, John King makes a sustained and comprehensive attack on the dogma that macroeconomic theory must have 'rigorous microfoundations'. He draws on both the philosophy of science and the history of economic thought to demonstrate the dangers of foundational metaphors and the defects of micro-reduction as a methodological principle. Strong criticism of the microfoundations dogma is documented in great detail, from some mainstream and many heterodox economists and also from economic methodologists, social theorists and evolutionary biologists. The author argues for the relative autonomy of macroeconomics as a distinct 'special science', cooperating with but most definitely not reducible to microeconomics. The Microfoundations Delusion will prove a stimulating and thought-provoking read for scholars, students and researchers in the fields of economics, heterodox economics and history of economic thought.Trade Review'This excellent book documents the creation of what has become the first commandment of orthodox macroeconomics: that microeconomic theory provides its foundation because this is the most secure form of economic knowledge. By contrast, John King shows conclusively that microeconomics cannot play such a role when assessed by the criteria of logic, or of science, or of economics itself. Indeed, he goes further and demonstrates that the microfoundations dogma detracts from knowledge about how economies actually operate, and instead generates patently false conclusions. Moreover, the dogma is shown to have blinded orthodox economists from even seeing the possibility of typical macroeconomic crises, and has disarmed them in formulating policies that would eliminate actual crises. The book therefore deals with a topic at the very heart of the present debacle in the world economy.' --Michael Howard, University of Waterloo, Canada'A generation ago Dudley Dillard wrote a famous article on the ''barter illusion in classical and neoclassical economics''. Now John King has gone a step further and written about the microfoundations delusion. The illusion has been with us for a very long time, the delusion is of more recent vintage. Together they have blocked a basic understanding of macroeconomic and monetary phenomena at a time when they are most urgently needed. This is a book that had to be written, and we are fortunate that it is John King who has written it. Essential reading for our times.' --John Smithin, York University, Canada'King's book, apart from its rather contentious conclusion that there is no inherent hierarchy between micro and macro, covers, every issue relevant to the debate majestically and in great detail. It is this reviewer s sense that, should the profession choose to engage with this book in a substantial and sustained way, these methodological questions which have lurked underneath the surface of economic discourse since at least Keynes s time can finally and once and for all be resolved.' --Philip Pilkington, Review of Keynesian EconomicsTable of ContentsContents: 1. Introduction Part I: Microfoundations and the Philosophy of Science 2. Microfoundations as a (Bad) Metaphor 3. Microfoundations as Micro-reduction 4. Two Case Studies: Biology and Social Science Part II: Microfoundations in the History of Economics and Other Social Sciences 5. ‘Microfoundations’ in the Literature of Economics, Part I: 1936–1975 6. ‘Microfoundations’ in the Literature of Economics, Part II: 1975–2012 7. Crossing the Border: ‘Microfoundations’ in the Other Social Sciences Part III: Dissenting Voices 8. The Dissenters, Part I: The Post Keynesians 9. The Dissenters, Part II: Mainstreamers, Austrians and Institutionalists 10. The Economic Methodologists and Microfoundations 11. Conclusion References Index

Read more less

Book SynopsisForeword by Walter BoltzThis highly unique book focuses on market design issues common to most EU gas markets, particularly in the context of closer integration. It explores in detail the characteristics and requirements of national gas markets in Europe, which are constructed as virtual hubs based on entry/exit schemes as a requirement of European law.The expert contributors analyze gas supply and demand patterns in the EU, showing that both have changed following the introduction of liquefied natural gas on the supply side and the growth of gas-fired power plants on the demand side. The repeated interactions between the transmission operators' activity and the gas commodity markets are addressed, as is the design of commercial networks in EU markets. The contributors also question whether the relationship between commercial and physical networks, in terms of the 'new' flexibility requirements of users, actually works. By way of conclusion, two proposals for the EU gas target model are presented, both of which tackle the fundamental issues raised in this book, as well as the organization of short-term transactions and the mechanisms for investment in vital new long-life infrastructure needed to integrate EU markets.This volume will be of great interest to practitioners, as well as academics, researchers and students in the fields of energy economics and industrial economics. Both European and non-European energy companies and regulatory authorities looking for an independent and analytical overview of European gas markets will also find this book to be a highly valuable resource.Contents: Foreword by Walter Boltz Introduction Part I: The New European Gas Market: Increased Flexibility in Both Demand and Supply 1. Introduction to Part I 2. Gas Demand: The Role of Gas-fired Power Plants 3. Gas Supply: The Role of Liquefied Natural Gas by Sophia Ruester Part II: The Role Played by Networks Regulation 4. Introduction to Part II 5. Opening a Market for Gas Flexibility? Part III: EU Regulation in the Context of the EU Target Model 6. Introduction to Part III 7. A Vision for the EU Gas Target Model: MECO-S 8. An American Model for the EU Gas Market? by Sergio Ascari Conclusions Bibliography IndexTrade Review‘The book represents a valuable work for scholars and students who are interested to better understand the European gas markets and regulations as well as existing debates about gas market models. The book balances general ideas and concepts with rather detailed description of speci?c regulatory mechanisms.’ -- Andrei V. Belyi, Journal of World Energy Law & BusinessTable of ContentsForeword by Walter Boltz Contents: Foreword by Walter Boltz Introduction Part I: The New European Gas Market: Increased Flexibility in Both Demand and Supply 1. Introduction to Part I 2. Gas Demand: The Role of Gas-fired Power Plants 3. Gas Supply: The Role of Liquefied Natural Gas by Sophia Ruester Part II: The Role Played by Networks Regulation 4. Introduction to Part II 5. Opening a Market for Gas Flexibility? Part III: EU Regulation in the Context of the EU Target Model 6. Introduction to Part III 7. A Vision for the EU Gas Target Model: MECO-S 8. An American Model for the EU Gas Market? by Sergio Ascari Conclusions Bibliography Index

Read more less

Book SynopsisThe normal enterprise, contrary to widespread prejudice, can do well out of intense knowledge, without bothering with snobbish high-tech delusions. In this respect, the present book deals with all the questions you might have been afraid to ask. It offers explanation, policy and practical conclusions in an international perspective. It is a compelling read!'- Arndt Sorge, Professor Emeritus, WZB, GermanyThis book contributes to the discussion about the relevance of knowledge-intensive entrepreneurship for industrial innovation in the context of traditional low-technology industries.There is a widespread assumption that low-tech industries offer limited opportunities for entrepreneurial activity due to their mature character. Yet there are indications that the phenomenon is finally emerging in these traditional sectors. This detailed book contributes to the ongoing political debate on relevant policy measures to promote future industrial innovation. It extends awareness of the relevance of low-tech industries for future economic and societal development, linking both scientific and political perspectives. Detailed chapters identify the typical patterns, prerequisites and impacts of knowledge-intensive entrepreneurship, as well as the distribution of entrepreneurial activities in low-tech sectors. The authors conclude with policy recommendations to promote such activities.This book will appeal to social scientists, economists and students of innovation and entrepreneurship studies. Policy-makers and company representatives will also find much of interest in this book, with its surprising insights into a field that has been so far neglected in the scientific as well as the policy-oriented debate.Contributors: Y.D. Caloghirou, T.F. Fernandes, M.M. Godinho, A. Havas, H. Hirsch-Kreinsen, G. Karagouni, I. Kastelli, R.P. Mamede, A. Protogerou, I. Schwinge, A. Tsakanikas, A.Y. YudanovTrade Review'Despite their minimal application of research and development, industries such as manufacturing, food, and publishing occupy an important role in production expansion and employment opportunities. The editors of Knowledge-Intensive Entrepreneurship in Low-Tech Industries point out the alarming gap that characterizes today's research in regard to industrial innovation and transformation. The book provides detailed studies that explain KIE activities at multiple levels as it emphasizes the origins, characteristics, strategies, organization, and performance of such activities. . . the book should raise significant interest among researchers, scholars, advisors and policy makers who are interested in the revival of manufacturing sectors in the developing world.' -- Chaza Fares Abdul, Journal of Applied Management and Entrepreneurship‘The normal enterprise, contrary to widespread prejudice, can do well out of intense knowledge, without bothering with snobbish high-tech delusions. In this respect, the present book deals with all the questions you might have been afraid to ask. It offers explanation, policy and practical conclusions in an international perspective. It is a compelling read!’ -- Arndt Sorge, Professor Emeritus, WZB, GermanyTable of ContentsContents: Introduction 1. Knowledge-intensive Entrepreneurship in Low-tech Industries Hartmut Hirsch-Kreinsen and Isabel Schwinge PART I: CHARACTERISTICS, PATTERNS AND IMPACT 2. Exploring Knowledge-intensive Entrepreneurship in High-tech and Low-tech Manufacturing Sectors: Differences and Similarities Yannis D. Caloghirou, Aimilia Protogerou and Aggelos Tsakanikas 3. Patterns of Knowledge-intensive Entrepreneurship in Low-tech Industries Hartmut Hirsch-Kreinsen 4. The Impact of Knowledge-intensive Entrepreneurship on the Growth and Competitiveness of European Traditional Industries Ioanna Kastelli and Yannis D. Caloghirou PART II: STRATEGIES AND DEVELOPMENT PROSPECTS 5. Patterns and Determinants of Trademark Use in Portugal Ricardo P. Mamede, Teresa F. Fernandes and Manuel M. Godinho 6. High-growth LMT Firms and the Evolution of the Russian Economy Andrei Y. Yudanov 7. The Relevance of the ‘Dynamic Capabilities’ Perspective in Low-tech Sectors Aimilia Protogerou, Yannis D. Caloghirou and Glykeria Karagouni 8. Readjusting the Perspective on LMT Firms in Product Supply Chains in Light of Knowledge-intensive Activity Isabel Schwinge PART III: POLICY ISSUES 9. Trapped by the High-tech Myth: The Need and Chances for a New Policy Rationale Attila Havas 10. Policy Measures for the Promotion of Knowledge-intensive Entrepreneurship in Low-tech Industries Hartmut Hirsch-Kreinsen and Isabel Schwinge Index

Read more less

Book SynopsisWhat do Goggle, Facebook, mobile phones and creative commons have in common? The answer is: economics! Stefano Comino and Fabio Manenti have written a crisp and thorough treatment of the economics of information and communications technologies. This valuable book fills a real gap in the market.'- Professor Tommaso Valletti, Imperial College Business School'I enjoyed reading this book immensely. So will students, as they will be able to see lucidly the economics behind their inseparable electronic companions. Researchers keeping a copy at hand will have a rich reference source of the ways in which good economic theory has captured the behaviour of sophisticated firms and their customer.'- Gianni De Fraja, The University of Nottingham, UKThis text rigorously blends theory with real-world applications to study the industrial organization of the ICT sector. Each of the self-contained chapters, which can be studied in isolation, contains theoretical models that are presented in a clear and accessible way. Throughout, a series of useful boxes complements and elucidates the theories with additional empirical/anecdotal evidence. This text will be of great interest to advanced undergraduate students with a background in microeconomics and game theory, particularly those taking courses in industrial organization, innovation economics and the economics of networks.The authors address the most important issues and are able to explore and explain complex theories and concepts in a clear, logical and coherent manner.Some of the topics covered include:- the economics of innovation- digital markets- network externalities- two-sided networks- imitation, open source and file sharing- antitrust in high-tech sectors.Contents: 1. Industrial Organisation of High-Tech Markets 2. Digital Markets 3. Network Externalities 4. Two-Sided Networks 5. Access and Interconnection in Telecommunications 6. Cumulative Innovation in Dynamic Industries 7. Imitation, Open Source and File Sharing 8. Antitrust in High-Tech Sectors References IndexTrade Review‘What do Google, Facebook, mobile phones and creative commons have in common? The answer is: economics! Stefano Comino and Fabio Manenti have written a crisp and thorough treatment of the economics of information and communications technologies. This valuable book fills a real gap in the market.’ -- Tommaso Valletti, Imperial College Business School, UK‘I enjoyed reading this book immensely. So will students, as they will be able to see lucidly the economics behind their inseparable electronic companions. Researchers keeping a copy at hand will have a rich reference source of the ways in which good economic theory has captured the behaviour of sophisticated firms and their customer.’ -- Gianni De Fraja, The University of Nottingham, UKTable of ContentsContents: 1. Industrial Organisation of High-Tech Markets 2. Digital Markets 3. Network Externalities 4. Two-Sided Networks 5. Access and Interconnection in Telecommunications 6. Cumulative Innovation in Dynamic Industries 7. Imitation, Open Source and File Sharing 8. Antitrust in High-Tech Sectors References Index

Read more less

Book SynopsisAndreff and his contributors bring a strong dose of reality to the economic modelling of sports leagues. Disequilibrium Sports Economics provides an intellectually compelling opening and a theoretically necessary antidote to the study of sports economics.'- Andrew Zimbalist, Smith College, US'This is an interesting book worth reading for every sports economist because it introduces a thought provoking approach to the growing field of sports economics. The authors show how disequilibrium economics may improve our understanding of puzzling economic phenomena in sports. I congratulate the editor and the contributors for this new book and the novel perspectives provided therein!'- Helmut M. Dietl, University of Zurich, Switzerland'I felt great intellectual excitement after getting acquainted with this volume. The high quality papers by Wladimir Andreff and his co-authors are more significant than the topic indicated modestly by the title; they may not only urge economists of sport to reconsider their earlier theories, but may also provide inspiration and a new momentum to the wide research program on disequilibrium and the soft budget constraint.'- János Kornai, Harvard University, US and Corvinus University of Budapest, Hungary'This book sounds like a theoretical breakthrough towards a new approach in sports economics that generates important insights into the issue of financial fair play in football.'- Andrea Traverso, Head of Club Licensing and Financial Fair Play, UEFA'This path-breaking volume contains novel analysis of problems of critical importance to sports clubs, leagues, fans and academics interested in sports.'- Robert Simmons, Lancaster University Management School, UKFor decades, sports economics has been set within the framework of equilibrium economics, in particular when modelling team sport leagues. Based on a conviction that this does not reflect real life, this book addresses a gap in the literature and opens up a new research area by applying concepts drawn from disequilibrium economics. It is divided into two parts, the first of which focuses on economic disequilibrium in sports markets and competitive imbalance in sporting contests. The second part concentrates on soft budget constraints and their consequences for club governance and management.This pioneering book is the first to tackle non-mainstream economics in sport and offers a first approach to disequilibrium sports economics. Providing a new metric of competitive balance and opening up new avenues of future research, this is essential reading for economists and those researching sport across many disciplines.Contributors: W. Andreff, E. Franck, J.-P. Gayant, N. Le Pape, R.D. Macdonald, K. Nielsen, R.K. Storm, G.N. Tuck, D. van Reeth, A.R. WhittenTrade Review‘Disequilibrium Sports Economics: Competitive Imbalance and Budget Constraints? ?introduces a new research area in sport management.? ? . . . it touches on important topics surrounding team-sport leagues.? ?The book certainly provides not only a sport-economic aspect but also a communication/media aspect of sport. Sport management faculty and students could use? ?the book as excellent supplemental reading.’ -- International Journal of Sport Communication?‘Andreff and his contributors bring a strong dose of reality to the economic modelling of sports leagues. Disequilibrium Sports Economics provides an intellectually compelling opening and a theoretically necessary antidote to the study of sports economics.’ -- Andrew Zimbalist, Smith College, US‘This is an interesting book worth reading for every sports economist because it introduces a thought provoking approach to the growing field of sports economics. The authors show how disequilibrium economics may improve our understanding of puzzling economic phenomena in sports. I congratulate the editor and the contributors for this new book and the novel perspectives provided therein!’ -- Helmut M. Dietl, University of Zurich, Switzerland'I felt great intellectual excitement after getting acquainted with this volume. The high quality papers by Wladimir Andreff and his co-authors are more significant than the topic indicated modestly by the title; they may not only urge economists of sport to reconsider their earlier theories, but may also provide inspiration and a new momentum to the wide research program on disequilibrium and the soft budget constraint.' -- János Kornai, Harvard University, US and Corvinus University of Budapest, Hungary'This book sounds like a theoretical breakthrough towards a new approach in sports economics that generates important insights into the issue of financial fair play in football.' -- Andrea Traverso, Head of Club Licensing and Financial Fair Play, UEFA'This path-breaking volume contains novel analysis of problems of critical importance to sports clubs, leagues, fans and academics interested in sports.' -- Robert Simmons, Lancaster University Management School, UK‘As a whole, the book provides an original and realistic view that can and perhaps even must shape the future of sports economics.’ -- Nicolas Scelles, Journal of Economics and Political EconomyTable of ContentsContents: 1. A New Research Area: Disequilibrium Sports Economics Wladimir Andreff PART I ECONOMIC DISEQUILIBRIUM AND COMPETITIVE IMBALANCE 2. An Attempt at Disequilibrium Modelling a Team Sports League Wladimir Andreff 3. Management Reference Points for Sporting Leagues: Simulating League Expansion and the Effect of Alternative Player Drafting Regulations Geoff N. Tuck, Robert D. Macdonald and Athol R. Whitten 4. The Metrics of Competitive Imbalance Jean-Pascal Gayant and Nicolas Le Pape 5. Disequilibrium on the Sports Programmes Market: The Gender Imbalance in TV Coverage and TV Viewership of the 2012 Olympic Games Daam van Reeth PART II TEAMS AND LEAGUES WITH SOFT BUDGET CONSTRAINTS 6. Soft Budget Constraints in European and US leagues: Similarities and Differences Rasmus K. Storm and Klaus Nielsen 7. Governance of Professional Team Sports Clubs: Agency Problem and Soft Budget Constraint Wladimir Andreff 8. Regulation in Leagues with Clubs’ Soft Budget Constraints: The Effect of the New UEFA Club Licensing and Financial Fair Play Regulations on Managerial Incentives and Suspense Egon Franck Index

Read more less

Book SynopsisThis research review, written by two pioneers of e-commerce, discusses thirty of the most important papers written in the fields of economics, marketing and strategy. Topics covered include evaluation of the benefit to consumers of competition and product variety online, examination of auctions and reputational feedback mechanisms designed to mitigate informational asymmetries in online markets, and the debate on digital property rights including privacy, piracy and the open source movement. The review provides a thoughtful and accessible consideration of the subject of e-commerce, invaluable to scholars and practitioners alike.Table of ContentsContents Introduction Michael R. Baye and John Morgan PART I PLATFORMS AS STRATEGIC ACTORS 1. Michael R. Baye and John Morgan (2001), ‘Information Gatekeepers on the Internet and the Competitiveness of Homogeneous Product Markets’, American Economic Review, 91 (3), June, 454–74 2. Jean-Charles Rochet and Jean Tirole (2003), ‘Platform Competition in Two-Sided Markets’, Journal of the European Economic Association, 1 (4), June, 990–1029 3. Bernard Caillaud and Bruno Jullien (2003), ‘Chicken and Egg: Competition among Intermediation Service Providers’, RAND Journal of Economics, 34 (2), Summer, 309–28 4. Mark Armstrong (2006), ‘Competition in Two-Sided Markets’, RAND Journal of Economics, 37 (3), Autumn, 668–91 5. Andrei Hagiu (2009), ‘Two-Sided Platforms: Product Variety and Pricing Structures’, Journal of Economics and Management Strategy, 18 (4), Winter, 1011–43 6. Gerard J. Tellis, Eden Yin and Rakesh Niraj (2009), ‘Does Quality Win? Network Effects Versus Quality in High-Tech Markets’, Journal of Marketing Research, XLVI (2), April, 135–49 PART II IS E-COMMERCE FRICTIONLESS? PRICE DISPERSION AND OBFUSCATION ONLINE 7. Erik Brynjolfsson and Michael D. Smith (2000), ‘Frictionless Commerce? A Comparison of Internet and Conventional Retailers’, Management Science, 46 (4), April, 563–85 8. Michael R. Baye, John Morgan and Patrick Scholten (2004), ‘Price Dispersion in the Small and in the Large: Evidence from an Internet Price Comparison Site’, Journal of Industrial Economics, LII (4), December, 463–96 9. Michael R. Baye, J. Rupert J. Gatti, Paul Kattuman and John Morgan (2009), ‘Clicks, Discontinuities, and Firm Demand Online’, Journal of Economics and Management Strategy, 18 (4), Winter, 935–75 10. Glenn Ellison and Sara Fisher Ellison (2009), ‘Search, Obfuscation, and Price Elasticities on the Internet’, Econometrica, 77 (2), March, 427–52 11. Xavier Gabaix and David Laibson (2006), ‘Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets’, Quarterly Journal of Economics, 121 (2), May, 505–40 12. Jennifer Brown, Tanjim Hossain and John Morgan (2010), ‘Shrouded Attributes and Information Suppression: Evidence from the Field’, Quarterly Journal of Economics, 125 (2), May, 859–76 PART III DOES E-COMMERCE BENEFIT CONSUMERS? INFORMATION, PRODUCT VARIETY, AND COMPETITION 13. Fiona Scott Morton, Florian Zettelmeyer and Jorge Silva-Risso (2001), ‘Internet Car Retailing’, Journal of Industrial Economics, XLIX (4), December, 501–19 14. Jeffrey R. Brown and Austan Goolsbee (2002), ‘Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry’, Journal of Political Economy, 110 (3), June, 481–507 15. Erik Brynjolfsson, Yu (Jeffrey) Hu and Michael D. Smith (2003), ‘Consumer Surplus in the Digital Economy: Estimating the Value of Increased Product Variety at Online Booksellers’, Management Science, 49 (11), November, 1580–96 16. Chris Forman, Anindya Ghose and Avi Goldfarb (2009), ‘Competition Between Local and Electronic Markets: How the Benefit of Buying Online Depends on Where You Live’, Management Science, 55 (1), January, 47–57 PART IV ONLINE AUCTIONS FOR PRODUCTS AND ADVERTISING 17. Hal R. Varian (2007), ‘Position Auctions’, International Journal of Industrial Organization, 25 (6), December, 1163–78 18. Benjamin Edelman and Michael Schwarz (2010), ‘Optimal Auction Design and Equilibrium Selection in Sponsored Search Auctions’, American Economic Review, 100 (2), May, 597–602 19. Patrick Bajari and Ali Hortaçsu (2003), ‘The Winner’s Curse, Reserve Prices, and Endogenous Entry: Empirical Insights from eBay Auctions’, RAND Journal of Economics, 34 (2), Summer, 329–55 PART V MITIGATING INFORMATION ASYMMETRIES: REPUTATION, RECOMMENDATION, AND FEEDBACK MECHANISMS 20. Paul Resnick, Richard Zeckhauser, John Swanson and Kate Lockwood (2006), ‘The Value of Reputation on eBay: A Controlled Experiment’, Experimental Economics, 9 (2), June, 79–101 21. Daniel Houser and John Wooders (2006), ‘Reputation in Auctions: Theory, and Evidence from eBay’, Journal of Economics and Management Strategy, 15 (2), Summer, 353–69 22. Gary E. Bolton, Elena Katok and Axel Ockenfels (2004), ‘How Effective Are Electronic Reputation Mechanisms? An Experimental Investigation’, Management Science, 50 (11), November, 1587–1602 23. Chrysanthos Dellarocas (2003), ‘The Digitization of Word of Mouth: Promise and Challenges of Online Feedback Mechanisms’, Management Science, 49 (10), October, 1407–24 24. Yan Chen, F. Maxwell Harper, Joseph Konstan and Sherry Xin Li (2010), ‘Social Comparisons and Contributions to Online Communities: A Field Experiment on MovieLens’, American Economic Review, 100 (4), September, 1358–98 25. Judith A. Chevalier and Dina Mayzlin (2006), ‘The Effect of Word of Mouth on Sales: Online Book Reviews’ Journal of Marketing Research, XLIII (3), August, 345–54 PART VI BATTLES FOR DIGITAL PROPERTY RIGHTS: PRIVACY, PIRACY, AND THE OPEN SOURCE MOVEMENT 26. Rafael Rob and Joel Waldfogel (2006), ‘Piracy on the High C’s: Music Downloading, Sales Displacement, and Social Welfare in a Sample of College Students’, Journal of Law and Economics, XLIX (1), April, 29–62 27. Felix Oberholzer-Gee and Koleman Strumpf (2007), ‘The Effect of File Sharing on Record Sales: An Empirical Analysis’, Journal of Political Economy, 115 (1), February, 1–42 28. Benjamin E. Hermalin and Michael L. Katz (2006), ‘Privacy, Property Rights and Efficiency: The Economics of Privacy as Secrecy’, Quantitative Marketing and Economics, 4 (3), September, 209–39 29. Avi Goldfarb and Catherine E. Tucker (2011), ‘Privacy Regulation and Online Advertising’, Management Science, 57 (1), January, 57–71 30. Josh Lerner and Jean Tirole (2002), ‘Some Simple Economics of Open Source’, Journal of Industrial Economics, L (2), June, 197–234 Index

Read more less

Book SynopsisIndustrial organization studies how markets allocate resources, specifically when there are few agents or when there are frictions that render the price-taking paradigm unsuitable. Game theory explores situations in which agents interact strategically and provides a useful foundation for studying many traditional industrial organization topics.The first volume of this wide-ranging Handbook contains original contributions by world-class specialists. It provides up-to-date surveys of the main tools of game theory that are used to model industrial organization topics. The Handbook covers numerous subjects in detail including, among others, the tools of lattice programming, supermodular and aggregative games, monopolistic competition, horizontal and vertically differentiated good models, dynamic and Stackelberg games, entry games, evolutionary games with adaptive players, asymmetric information, moral hazard, and learning and information sharing models.Technical yet accessible, this comprehensive resource will be required reading for both established researchers as well as graduate or advanced undergraduate students in industrial economics and game theory.Contributors incude: R. Amir, A. Attar, G.I. Bischi, F. Bloch, L. Corchón, S. Currarini, C. d'Aspremont, F. Feri, J. Gabszewicz, M. Jensen, L. Julien, F. Lamantia, I. Macho-Stadler, M. Marini, E. Maskin, D. Perez-Castrillo, C. Pimienta, D. Radi, R.A. Ritz, K. Ritzberger, O. Tarola, J. Thisse, A. Urbano, P. Ushchev, X. Vives, J. ZhaoTrade Review'With these two volumes, Professors Corchon and Marini have provided an invaluable public good to our profession. Corchon and Marini have gathered leading scholars to present a broad and deep overview of the definitive impact that game theory had and still continues to have on the field of industrial organization over the recent years. Any serious researcher willing to take stock of advances in the field should certainly consider to study the material covered in these volumes, from the more fundamental issues in Volume 1 to the more applied topics presented in Volume 2.' --David Martimort, Paris School of Economics, France'The publication of this Handbook, bringing together game theory and industrial organization, is an occasion worth celebrating. . . . I am truly delighted that there is now a Handbook devoted to this transformative partnership.' --From the foreword by Eric Maskin'Game theoretic methods are central in the study of oligopoly markets. The surveys in this Handbook provide a broad introduction to the relevant game theory topics and their applications in oligopoly theory. There is an emphasis on recent developments, such as lattice theory and supermodular games. The Handbook will be a valuable resource for researchers and students.' --Robert Porter, Northwestern University, USTable of ContentsContents: Foreword by Eric Maskin 1. Introduction Luis C. Corchón and Marco A. Marini PART I BASIC GAMES IN INDUSTRIAL ORGANIZATION 2. Strategic complementarities in oligopoly Xavier Vives 3. On the Cournot and Bertrand oligopolies and the theory of supermodular games Rabah Amir 4. Aggregative games Martin Kaae Jensen 5. Monopolistic competition without apology Jacques-François Thisse and Philip Ushchev 6. Oligopoly and product differentiation Jean J. Gabszewicz and Ornella Tarola 7. Oligopolistic competition and welfare Robert A. Ritz PART II DYNAMIC GAMES IN INDUSTRIAL ORGANIZATION 8. Dynamic games Klaus Ritzberger 9. Strategic refinements Carlos Pimienta 10. Stackelberg games Ludovic A. Julien 11. Entry games and free entry equilibria Michele Polo 12. Evolutionary oligopoly games with heterogeneous adaptive players Gian Italo Bischi, Fabio Lamantia and Davide Radi PART III GAMES OF COLLUSION IN INDUSTRIAL ORGANIZATION 13. Coalitions and networks in oligopolies Francis Bloch 14. TU oligopoly games and industrial cooperation Jingang Zhao PART IV INFORMATION GAMES 15. Trading under asymmetric information: positive and normative implications Andrea Attar and Claude d’Aspremont 16. Moral hazard: Base models and two extensions Inés Macho-Stadler and David Pérez‐Castrillo 17. Learning in markets Amparo Urbano 18. Information sharing in oligopoly Sergio Currarini and Francesco Feri Index

Read more less

Book SynopsisThe Handbook of Experimental Game Theory offers a comprehensive analysis of the field, discussing foundational topics that are at the core of applied game theory. It highlights the nuances that scientific experiments have delivered to our understanding of strategic interactions among decision makers. Leading experts explore methodological considerations and games of complete and incomplete information to offer new directions for research in experimental game theory. Chapters demonstrate transformative behavioral research focused on classic topics in game theory such as cooperation and coordination games. Taking a scientific approach to the study of game theory, this innovative Handbook provides an insight into laboratory and field experiments that test game theoretic propositions and suggests new ways of modeling strategic behavior. It takes a forward-thinking position, addressing the challenges inherent in innovations surrounding the measurement of strategic behavior using experimental methods. This Handbook will prove to be a valuable resource for scholars and students who are looking to gain a broader understanding of experimental game theory and how to contribute to its advancement. It will also be of particular interest to researchers in experimental and behavioral economics.Trade Review'This Handbook is a must-have resource for experimental economists and game theorists. It consists of authoritative contributions from top researchers in the areas it covers. The topics range from methodology to surveys of important and active research in experimental game theory. The Handbook is both rigorous in its treatment of the topics as well as accessible to readers not familiar with the areas of coverage.' --Charles Noussair, University of Arizona, US'Every game theorist and experimental economist should have this book and use it to analyze data, design experiments, and understand their results.' --Elizabeth Hoffman, Iowa State University, USTable of ContentsContents: Introduction to the Handbook of Experimental Game Theory 1 C. Mónica Capra, Rachel T.A. Croson, Mary L. Rigdon and Tanya S. Rosenblat PART I A SAMPLING OF METHODOLOGICAL INNOVATIONS 1 Stochastic game theory for social science: a primer on quantal response equilibrium 8 Jacob K. Goeree, Charles A. Holt and Thomas R. Palfrey 2 The experimetrics of depth-of-reasoning models 48 Peter G. Moffatt 3 The process of choice in games 69 Giorgio Coricelli, Luca Polonio and Alexander Vostroknutov 4 Games with continuous-time experimental protocols 95 Alexander L. Brown and Daniel G. Stephenson 5 Bargaining in the field 125 Marco Castillo and Ragan Petrie PART II EXPERIMENTS ON STATIC AND DYNAMIC GAMES OF COMPLETE INFORMATION 6 Recent advances in experimental coordination games 149 David J. Cooper and Roberto A. Weber 7 Public goods, norms and cooperation 184 Marie Claire Villeval 8 Cooperation among strangers with and without a monetary system 213 Maria Bigoni, Gabriele Camera and Marco Casari 9 Game-theoretic accounts of social norms: the role of normative expectations 241 Cristina Bicchieri and Alessandro Sontuoso 10 Strategies used by non-human primates in dynamic games 256 Mackenzie F. Webster, Julia Watzek and Sarah F. Brosnan 11 Reciprocity in games with unknown types 271 Garret Ridinger and Michael McBride 12 Behavioral rules 289 Carlos Alós-Ferrer and Johannes Buckenmaier PART III EXPERIMENTS ON STATIC AND DYNAMIC GAMES OF INCOMPLETE INFORMATION 13 Strategic information transmission: a survey of experiments and theoretical foundations 311 Andreas Blume, Ernest K. Lai and Wooyoung Lim 14 Communication and information in games of collective decision: a survey of experimental results 348 César Martinelli and Thomas R. Palfrey 15 Voting game experiments with incomplete information: a survey 376 Jens Großer 16 Experiments in market design 399 Siqi Pan Index

Read more less

Book SynopsisIndustrial organization studies how markets allocate resources, specifically when there are few agents or when there are frictions that render the price-taking paradigm unsuitable. Game theory explores situations in which agents interact strategically and provides a useful foundation for studying many traditional industrial organization topics.The first volume of this wide-ranging Handbook contains original contributions by world-class specialists. It provides up-to-date surveys of the main tools of game theory that are used to model industrial organization topics. The Handbook covers numerous subjects in detail including, among others, the tools of lattice programming, supermodular and aggregative games, monopolistic competition, horizontal and vertically differentiated good models, dynamic and Stackelberg games, entry games, evolutionary games with adaptive players, asymmetric information, moral hazard, and learning and information sharing models.Technical yet accessible, this comprehensive resource will be required reading for both established researchers as well as graduate or advanced undergraduate students in industrial economics and game theory.Contributors incude: R. Amir, A. Attar, G.I. Bischi, F. Bloch, L. Corchón, S. Currarini, C. d'Aspremont, F. Feri, J. Gabszewicz, M. Jensen, L. Julien, F. Lamantia, I. Macho-Stadler, M. Marini, E. Maskin, D. Perez-Castrillo, C. Pimienta, D. Radi, R.A. Ritz, K. Ritzberger, O. Tarola, J. Thisse, A. Urbano, P. Ushchev, X. Vives, J. ZhaoTrade Review'With these two volumes, Professors Corchon and Marini have provided an invaluable public good to our profession. Corchon and Marini have gathered leading scholars to present a broad and deep overview of the definitive impact that game theory had and still continues to have on the field of industrial organization over the recent years. Any serious researcher willing to take stock of advances in the field should certainly consider to study the material covered in these volumes, from the more fundamental issues in Volume 1 to the more applied topics presented in Volume 2.' --David Martimort, Paris School of Economics, France'The publication of this Handbook, bringing together game theory and industrial organization, is an occasion worth celebrating. . . . I am truly delighted that there is now a Handbook devoted to this transformative partnership.' --From the foreword by Eric Maskin'Game theoretic methods are central in the study of oligopoly markets. The surveys in this Handbook provide a broad introduction to the relevant game theory topics and their applications in oligopoly theory. There is an emphasis on recent developments, such as lattice theory and supermodular games. The Handbook will be a valuable resource for researchers and students.' --Robert Porter, Northwestern University, USTable of ContentsContents: Foreword by Eric Maskin 1. Introduction Luis C. Corchón and Marco A. Marini PART I BASIC GAMES IN INDUSTRIAL ORGANIZATION 2. Strategic complementarities in oligopoly Xavier Vives 3. On the Cournot and Bertrand oligopolies and the theory of supermodular games Rabah Amir 4. Aggregative games Martin Kaae Jensen 5. Monopolistic competition without apology Jacques-François Thisse and Philip Ushchev 6. Oligopoly and product differentiation Jean J. Gabszewicz and Ornella Tarola 7. Oligopolistic competition and welfare Robert A. Ritz PART II DYNAMIC GAMES IN INDUSTRIAL ORGANIZATION 8. Dynamic games Klaus Ritzberger 9. Strategic refinements Carlos Pimienta 10. Stackelberg games Ludovic A. Julien 11. Entry games and free entry equilibria Michele Polo 12. Evolutionary oligopoly games with heterogeneous adaptive players Gian Italo Bischi, Fabio Lamantia and Davide Radi PART III GAMES OF COLLUSION IN INDUSTRIAL ORGANIZATION 13. Coalitions and networks in oligopolies Francis Bloch 14. TU oligopoly games and industrial cooperation Jingang Zhao PART IV INFORMATION GAMES 15. Trading under asymmetric information: positive and normative implications Andrea Attar and Claude d’Aspremont 16. Moral hazard: Base models and two extensions Inés Macho-Stadler and David Pérez‐Castrillo 17. Learning in markets Amparo Urbano 18. Information sharing in oligopoly Sergio Currarini and Francesco Feri Index

Read more less

Book SynopsisThis comprehensive research review recaps major literary contributions to the economic theory of incentives. These carefully selected papers, both classic and contemporary, analyse collective decision problems in the context of asymmetric information, moral hazard and incomplete contracting. This review is an essential tool for any serious scholar and student in the field. Table of ContentsContents: Introduction David Martimort PART I COLLECTIVE DECISION PROBLEMS UNDER ASYMMETRIC INFORMATION A. Public Goods and the Free Riding Problem 1. Claude d’Aspremont and Louis-André Gérard-Varet (1979), ‘Incentives and Incomplete Information’, Journal of Public Economics, 11 (1), February, 25–45 2. Jerry Green and Jean-Jacques Laffont (1977), ’Characterization of Satisfactory Mechanisms for the Revelation of Preferences for Public Goods’, Econometrica, 45 (2), March, 427–38 3. Theodore Groves (1973), ‘Incentives in Teams’, Econometrica, 41 (4), July, 617–31 4. Jean-Jacques Laffont and Eric Maskin (1979), ‘A Differential Approach to Expected Utility Maximizing Mechanisms’, in Jean-Jacques Laffont (ed.), Aggregation and Revelation of Preferences: Studies in Public Economics Volume 2, Part IV, Chapter 16, Amsterdam, the Netherlands, New York, NY, USA and Oxford, UK: North-Holland Publishing Company, 289–308 5. Jean-Jacques Laffont and Eric Maskin (1980), ‘A Differential Approach to Dominant Strategy Mechanisms’, Econometrica, 48 (6), September, 1507–20 6. George J. Mailath and Andrew Postlewaite (1990), ‘Asymmetric Information Bargaining Problems with Many Agents’, Review of Economic Studies, 57 (3), July, 351–67 B. Incentive Compatibility and the Revelation Principle 7. Allan Gibbard (1973), ‘Manipulation of Voting Schemes: A General Result’, Econometrica, 41 (4), July, 587–601 8. Partha Dasgupta, Peter Hammond and Eric Maskin (1979), ‘The Implementation of Social Choice Rules: Some General Results on Incentive Compatibility’, Review of Economic Studies, 46 (2), April, 185–216 9. Roger B. Myerson (1979), ‘Incentive Compatibility and the Bargaining Problem’, Econometrica, 47 (1), January, 61–73 10. Roger B. Myerson (1982), ‘Optimal Coordination Mechanisms in Generalized Principal-Agent Problems’, Journal of Mathematical Economics, 10 (1), June, 67–81 C. Full Implementation 11. Joel S. Demski and David Sappington (1984), ‘Optimal Incentive Contracts with Multiple Agents’, Journal of Economic Theory, 33 (1), June 152–71 12. Eric Maskin (1999), ‘Nash Equilibrium and Welfare Optimality’, Review of Economic Studies, Special Issue: Contracts, 66 (1), January, 23–38 13. Eric Maskin and John Moore (1999), ‘Implementation and Renegotiation’, Review of Economic Studies, Special Issue: Contracts, 66 (1), January, 39–56 14. John Moore and Rafael Repullo (1988), ‘Subgame Perfect Implementation’, Econometrica, 56 (5), September, 1191–1220 15. John Moore and Rafael Repullo (1990), ‘Nash Implementation: A Full Characterization’, Econometrica, 58 (5), September, 1083–99 16. Thomas R. Palfrey and Sanjay Srivastava (1989), ‘Implementation with Incomplete Information in Exchange Economies’, Econometrica, 57 (1), January, 115–34 17. Dilip Mookherjee and Stefan Reichelstein (1990), ‘Implementation via Augmented Revelation Mechanisms’, Review of Economic Studies, 57 (3), July, 453–75 D. Interim Efficiency 18. Bengt Holmström and Roger B. Myerson (1983), ‘Efficient and Durable Decision Rules with Incomplete Information’, Econometrica, 51 (6), November, 1799–1819 19. John O. Ledyard and Thomas R. Palfrey (1999), ‘A Characterization of Interim Efficiency with Public Goods’, Econometrica, 67 (2), March, 435–48 E. Auctions 20. Jacques Crémer and Richard P. McLean (1988), ‘Full Extraction of the Surplus in Bayesian and Dominant Strategy Auctions’, Econometrica, 56 (6), November, 1247–57 21. Philippe Jehiel and Benny Moldovanu (2001), ‘Efficient Design with Interdependent Valuations’, Econometrica, 69 (5), September, 1237–59 22. Eric Maskin and John Riley (1989), ‘Optimal Multi-unit Auctions’, in Frank Hahn (ed.), The Economics of Missing Markets, Information, and Games, Chapter 14, Oxford, UK: Clarendon Press, 312–35 23. Roger B. Myerson (1981), ‘Optimal Auction Design’, Mathematics of Operations Research, 6 (1), February, 58–73 24. John G. Riley and William F. Samuelson (1981), ‘Optimal Auctions’, American Economic Review, 71 (3), June, 381–92 F. Robust Mechanism Design 25. Dirk Bergemann and Stephen Morris (2005), ‘Robust Mechanism Design’, Econometrica, 73 (6), November, 1771–1813 26. Philippe Jehiel, Moritz Meyer-ter-Vehn, Benny Moldovanu and William R. Zame (2006), ‘The Limits of Ex Post Implementation’, Econometrica, 74 (3), May, 585–610 27. Dilip Mookherjee and Stefan Reichelstein (1992), ‘Dominant Strategy Implementation of Bayesian Incentive Compatible Allocation Rules’, Journal of Economic Theory, 56 (2), April, 378–99 28. Zvika Neeman (2004), ‘The Relevance of Private Information in Mechanism Design’, Journal of Economic Theory, 117 (1), July, 55–77 29. Robert Wilson (1987), ‘Game-Theoretic Analyses of Trading Processes’, in Truman F. Bewley (ed.), Advances in Economic Theory: Fifth World Congress, Chapter 2, Cambridge, UK, New York, NY, USA and Melbourne, Australia: Cambridge University Press, 33–70 G. The Coase Theorem under Asymmetric Information: Scope and Value 30. Roger B. Myerson and Mark A. Satterthwaite (1983), ‘Efficient Mechanisms for Bilateral Trading’, Journal of Economic Theory, 29 (2), April, 265–81 31. Peter Cramton, Robert Gibbons and Paul Klemperer (1987), ‘Dissolving a Partnership Efficiently’, Econometrica, 55 (3), May, 615–32, 1493 (Erratum) 32. Steven R. Williams (1999), ‘A Characterization of Efficient, Bayesian Incentive Compatible Mechanisms’, Economic Theory, 14 (1), July, 155–8 PART II COLLECTIVE DECISION PROBLEMS UNDER MORAL HAZARD A. Moral Hazard in Teams 33. Bengt Holmström (1982), ‘Moral Hazard in Teams’, Bell Journal of Economics, 13 (2), Autumn, 324–40 34. Patrick Legros and Steven A. Matthews (1993), ‘Efficient and Nearly-Efficient Partnerships’, Review of Economic Studies, 60 (3), July, 599–611 35. Eric Rasmusen (1987), ‘Moral Hazard in Risk-Averse Teams’, RAND Journal of Economics, 18 (3), Autumn, 428–35 36. David Rahman (2012), ‘But Who Will Monitor the Monitor?’, American Economic Review, 102 (6), October, 2767–97 B. The Firm as a Hierarchy: Relative or Joint Performance Evaluations? 37. Yeon-Koo Che and Seung-Weon Yoo (2001), ‘Optimal Incentives for Teams’, American Economic Review, 91 (3), June, 525–41 38. Edward P. Lazear and Sherwin Rosen (1981), ‘Rank-Order Tournaments as Optimum Labor Contracts’, Journal of Political Economy, 89 (5), October, 841–64 39. Hideshi Itoh (1991), ‘Incentives to Help in Multi-Agent Situations’, Econometrica, 59 (3), May, 611–36 40. Dilip Mookherjee (1984), ‘Optimal Incentive Schemes with Many Agents’, Review of Economic Studies, LI (3), July, 433–46 41. Barry J. Nalebuff and Joseph E. Stiglitz (1983), ‘Prizes and Incentives: Towards a General Theory of Compensation and Competition’, Bell Journal of Economics, 14 (1), Spring, 21–43 42. Ching-To Ma (1988), ‘Unique Implementation of Incentive Contracts with Many Agents’, Review of Economic Studies, LV (4), October, 555–71 Volume II Contents: Introduction An introduction by the editor appears in Volume I PART I COLLECTIVE DECISION PROBLEMS: INCOMPLETE CONTRACTING AND THE NON-VERIFIABILITY PARADIGM A. Property Rights, Authority and Capital Structure 1. Philippe Aghion and Patrick Bolton (1992), ‘An Incomplete Contracts Approach to Financial Contracting’, Review of Economic Studies, 59 (3), July, 473–94 2. Philippe Aghion and Jean Tirole (1997), ‘Formal and Real Authority in Organizations’, Journal of Political Economy, 105 (1), February, 1–29 3. Aaron S. Edlin and Stefan Reichelstein (1996), ‘Holdups, Standard Breach Remedies, and Optimal Investment’, American Economic Review, 86 (3), June, 478–501 4. Mathias Dewatripont and Jean Tirole (1994), ‘A Theory of Debt and Equity: Diversity of Securities and Manager-Shareholder Congruence’, Quarterly Journal of Economics, 109 (4), November, 1027–54 5. Sanford J. Grossman and Oliver D. Hart (1986), ‘The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration’, Journal of Political Economy, 94 (4), August, 691–719 6. Oliver Hart and John Moore (1990), ‘Property Rights and the Nature of the Firm’, Journal of Political Economy, 98 (6), December, 1119–58 [40] 7. Jean Tirole (1986), ‘Procurement and Renegotiation’, Journal of Political Economy, 94 (2), April, 235–59 B. The Foundations of Incomplete Contracts 8. Ilya Segal (1999), ‘Complexity and Renegotiation: A Foundation for Incomplete Contracts’, Review of Economic Studies, Special Issue: Contracts, 66 (1), January, 57–82 9. Eric Maskin and Jean Tirole (1999), ‘Unforeseen Contingencies and Incomplete Contracts’, Review of Economic Studies, Special Issue: Contracts, 66 (1), January, 83–114 C. Relational Contracts and Subjective Evaluations 10. Jonathan Levin (2003), ‘Relational Incentive Contracts’, American Economic Review, 93 (3), June, 835–57 11. W. Bentley MacLeod and James M. Malcomson (1989), ‘Implicit Contracts, Incentive Compatibility, and Involuntary Unemployment’, Econometrica, 57 (2), March, 447–80 12. W. Bentley MacLeod (2003), ‘Optimal Contracting with Subjective Evaluation’, American Economic Review, 93 (1), March, 216–40 PART II COLLECTIVE DECISION PROBLEMS: THE MULTI-CONTRACTING ORGANIZATION A. Collusion: When Agents Share Information and Coordinate Actions 13. Hideshi Itoh (1993), ‘Coalitions, Incentives, and Risk Sharing’, Journal of Economic Theory, 60 (2), August, 410–27 14. Jean-Jacques Laffont and David Martimort (1999), ‘Separation of Regulators against Collusive Behavior’, RAND Journal of Economics, 30 (2), Summer, 232–62 15. Jean-Jacques Laffont and Jean Tirole (1991), ‘The Politics of Government Decision-Making: A Theory of Regulatory Capture’, Quarterly Journal of Economics, 106 (4), November, 1089–1127 16. Jean Tirole (1986), ‘Hierarchies and Bureaucracies: On the Role of Collusion in Organizations’, Journal of Law, Economics, and Organization, 2 (2), Fall, 181–214 17. Hal R. Varian (1990), ‘Monitoring Agents With Other Agents’, Journal of Institutional and Theoretical Economics, 146 (1), March, 153–74 B. Collusion with Asymmetric and Soft Information 18. Yeon-Koo Che and Jinwoo Kim (2006), ‘Robustly Collusion-Proof Implementation’, Econometrica, 74 (4), July, 1063–1107 19. Jean-Jacques Laffont and David Martimort (1997), ‘Collusion under Asymmetric Information’, Econometrica, 65 (4), July, 875–911 C. Hierarchies and Decentralization 20. Sandeep Baliga and Tomas Sjöström (1998), ‘Decentralization and Collusion’, Journal of Economic Theory, 83 (2), December, 196–232 21. David P. Baron and David Besanko (1992), ‘Information, Control, and Organizational Structure’, Journal of Economics and Management Strategy, 1 (2), Summer, 237–75 22. Jean-Jacques Laffont and David Martimort (1998), ‘Collusion and Delegation’, RAND Journal of Economics, 29 (2), Summer, 280–305 23. Nahum D. Melumad, Dilip Mookherjee and Stefan Reichelstein (1995), ‘Hierarchical Decentralization of Incentive Contracts’, RAND Journal of Economics: Symposium on the Economics of Organization, 26 (4), Winter, 654–72 24. Dilip Mookherjee and Masatoshi Tsumagari (2004), ‘The Organization of Supplier Networks: Effects of Delegation and Intermediation’, Econometrica, 72 (4), July, 1179–1219 D. Multilateral Contracting and Common Agency 25. B. Douglas Bernheim and Michael D. Whinston (1986), ‘Menu Auctions, Resource Allocation, and Economic Influence’, Quarterly Journal of Economics, CI (1), February, 1–31 26. B. Douglas Bernheim and Michael D. Whinston (1986), ‘Common Agency’, Econometrica, 54 (4), July, 923–42 27. David Martimort and Lars Stole (2002), ‘The Revelation and Delegation Principles in Common Agency Games’, Econometrica, 70 (4), July, 1659–73 28. David Martimort and Lars Stole (2009), ‘Market Participation in Delegated and Intrinsic Common-Agency Games’, RAND Journal of Economics, 40 (1), Spring, 78–102 29. Ilya Segal (1999), ‘Contracting with Externalities’, Quarterly Journal of Economics, CXIV (2), May, 337–88 E. Endogenous Common Agency 30. B. Douglas Bernheim and Michael D. Whinston (1998), ‘Exclusive Dealing’, Journal of Political Economy, 106 (1), February, 64–103 31. David Martimort (1996), ‘Exclusive Dealing, Common Agency, and Multiprincipals Incentive Theory’, RAND Journal of Economics, 27 (1), Spring, 1–31 Index

Read more less

Book SynopsisThis unique book examines how sports betting markets function. Charting recent international developments, expert contributors consider how both bookmakers and stakeholders view these changes, their prime areas of concern and the potential methods for addressing them. Providing a rigorous economic analysis throughout, this book examines the informational efficiency of betting markets and the prevalence of corruption and illegal betting in sports. Against this background, chapters explore pertinent questions such as: should gambling markets be privatized? Is the `hot hand' hypothesis real or a myth? Are the `many' smarter than the `few' in estimating betting odds? How are prices set in fixed odds betting markets? Chapters also review important policy concerns such as the health implications posed by the potential link between the accelerating popularity of sports betting and the decline in sports participation. Academics and students studying economics, sports economics and, more specifically, sports betting will find this book an engaging companion. Contemporary and up to date, it will also appeal to stakeholders looking to widen their professional insight.Contributors include: B. Buraimo, X. Che, S. Dobson, A. Feddersen, D. Forrest, J. García, J. Goddard, K. Grote, B. Humphreys, V. Matheson, R. Paul, D. Peel, L. Pérez, P. Rodríguez, J. Ruseski, R. Simmons, P. Westmoreland, A. Weinbach, R. Wheeler, J. YangTable of ContentsContents: Introduction 1. Consumer Spending on Spectator Sports, Physical Activity, and Sports Betting: Evidence from Canada Brad R. Humphreys, Jane E. Ruseski and Jie Yang 2. Should Gambling Markets be Privatized? An Examination of State Lotteries in the United States Kent R. Grote and Victor A. Matheson 3. Price Setting and Competition in Fixed Odds Betting Markets Xiaogang Che, Arne Feddersen and Brad R. Humphreys 4. Evaluating Probabilities for a Football In-play Betting Market Stephen Dobson and John Goddard 5. Forecasting Football Match Results: Are the Many Smarter Than the Few? Jaume García, Levi Pérez and Plácido Rodríguez 6. New Empirical Evidence on the Tote-SP Anomaly and its Implications for Models of Risky Choice in Gambling Markets Babatunde Buraimo, David Peel and Robert Simmons 7. Market Efficiency and the Favorite-longshot Bias: Evidence from Handball Betting Markets Arne Feddersen 8. Hot Arms and the Hot Hand: Bettor and Sportsbook Reaction to Team and Pitcher Streaks in Major League Baseball Rodney Paul and Andrew Weinbach 9. Investigating the “Hot hand” Hypothesis: An Application to European Football Rob Simmons and Rhys Wheeler 10. Sports Corruption and Developments in Betting Markets David Forrest Index

Read more less

Book SynopsisGeoff Hodgson has made substantial contributions to institutional and evolutionary economics, economic methodology, the history of economic thought and social theory. To mark his seminal work, this book features original contributions by world-leading scholars from fields that have played a significant role in influencing his thinking or represent key debates to which he has contributed. Building on some of the central philosophical and methodological foundations underlying Hodgson's thinking, the book is organized around the recurring themes of institutions, evolution and capitalism. The contributors explore key connections between philosophy, the history of economic thought, and institutional and evolutionary economics in the light of Hodgson's often path-breaking work. A vital read for institutional, evolutionary and heterodox economists, this book sheds new light on Hodgson's position in these fields. Drawing together critical insights, this is also an important book for economics scholars looking to improve their understanding of current theory. Contributors include: M.C. Becker, C. Camic, J.B. Davis, S. Deakin, K. Dopfer, G. Dosi, S. Dow, F. Gagliardi, D. Gindis, J. Groenewegen, G.M. Hodgson, T. Knudsen, R.N. Langlois, T. Lawson, L. Marengo, C. Ménard, J.S. Metcalfe, P. Mirowski, A. Nuvolari, U. Pagano, J. Potts, J.W. Stoelhorst, A. Tylecote, V.J. Vanberg, J. VromenTrade Review'We are in an era when fundamental debates about the nature of the economy and economics are not mere academic curiosities but an urgent necessity for society. Long-dominant theories have crumbled and major challenges loom. Bold new thinking is required and few have been bolder than Geoffrey Hodgson. This volume, by a distinguished group of scholars, gives new insights into Hodgson's decades-long body of work and will surely spark new ideas and debate. The economy is an evolutionary system and someday future historians will say ''Hodgson was right.''' --Eric Beinhocker, University of Oxford, UK and author of The Origin of Wealth'This impressive collection is a fitting tribute to Geoff Hodgson, with substantial contributions from senior colleagues covering the many areas in economics in which he has worked over the course of a long and successful career.' --Jochen Runde, University of Cambridge, UK'Geoffrey Hodgson has for some time been one of the most creative and provocative writers arguing for a more evolutionary economics that paid more attention to the institutions driving and molding economic change. This collection of essays in his honor is of broad scope and high quality. They provide a pleasurable, informative read.' --Richard R. Nelson, Columbia University, USTable of ContentsContents: PART I INTRODUCTION 1 Institutions and evolution of capitalism in Geoff Hodgson’s work 2 Francesca Gagliardi and David Gindis PART II FOUNDATIONS 2 Geoff Hodgson on pluralism and historical specificity 14 Sheila C. Dow 3 Mathematical modelling in economics: seeking a rationale 29 Tony Lawson 4 Dissembling nature, elusive economy 44 Philip Mirowski 5 The rest of the resume: Veblen’s teaching and service activities 62 Charles Camic 6 Hodgson, cumulative causation and reflexive economic agents 78 John B. Davis PART III INSTITUTIONAL ECONOMICS 7 Bridging Original and New Institutional Economics? 93 John Groenewegen 8 Dimensionalizing institutions 110 Claude Ménard 9 Juridical ontology and the theory of the firm 127 Simon Deakin 10 The corporation is not a nexus of contracts: it’s an iPhone 142 Richard N. Langlois 11 Property, possession and knowledge 157 Ugo Pagano 12 Near misses – a capitalist aborted take-off and a no-show: the United Provinces and Ming China 178 Andrew Tylecote 13 Institutions are neither autistic maximizers nor flocks of birds: self-organization, power and learning in human organizations 194 Giovanni Dosi, Luigi Marengo and Alessandro Nuvolari PART IV EVOLUTIONARY ECONOMICS 14 Industry and Trade : Marshall’s magnificent dynamics 215 J. Stanley Metcalfe 15 Generalized Darwinism, the nature of selection and market efficiency 231 J.W. Stoelhorst 16 Cultural evolution, group selection and downward causation 250 Viktor J. Vanberg 17 Generalized Darwinism, routines and morality 264 Jack Vromen 18 The ubiquity of habits and routines and their contribution to management theory 282 Markus C. Becker 19 The role of selection processes in organizational evolution 299 Thorbjørn Knudsen 20 Why is evolutionary economics not an empirical science? 314 Kurt Dopfer and Jason Potts PART V GEOFF HODGSON ON GEOFF HODGSON 21 A conversation with Geoff Hodgson 328 Francesca Gagliardi, David Gindis and Geoffrey M. Hodgson Index 353

Read more less

Book SynopsisThis stimulating research review analyses how the theory of the firm evolved from several core concepts and building blocks that underpin this important area of economics. It discusses a variety of perspectives from leading scholars in the field, including the basic elements of: risk and uncertainty; information and knowledge; bounded rationality and decision making; motives and incentives; resources and capabilities; and transactions. The review goes on to examine how the various elements are integrated into the modern Theory of the Firm with the notion of organization coming increasingly to the fore. It focuses on norms; rules and routines; the entrepreneur; governance; hierarchies; co-operation, teams and networks; innovation and appropriability. This comprehensive review will be an invaluable reference tool for all researchers and students with an interest in the modern theory of the firm, highlighting how it needs to evolve further to address the important management and policy issues of our time.Trade Review‘From Coase to Williamson to Hart and Holmström, the theory of the firm has not only evolved but also been duly celebrated. But these ideas have important applications besides firms (e.g., Ostrom on polycentric governance, to name just one) and the formalization of these ideas during this evolution has, as always, been a double-edged sword - sharpening logic and testing, while narrowing causal mechanisms and behavioral assumptions. Teece and Kay do a wonderful job curating the wide range of ideas, approaches, and applications that may fall by the wayside if future researchers learn only from those most celebrated thus far. One might guess that the future evolution of the theory of the firm is more likely to have roots in these volumes than in the canon to date.’ -- Robert Gibbons, Massachusetts Institute of Technology, USTable of ContentsContents: Acknowledgements Introduction David J. Teece and Neil M. Kay PART I OVERVIEWS 1. Nicolai J. Foss, Henrik Lando and Steen Thomsen (2000), ‘The Theory of the Firm’, in Boudewijn Bouckaert and Gerrit De Geest (eds), Encyclopedia of Law and Economics, Volume III: The Regulation of Contracts, Article No. 5610, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, 631–58 2. Fritz Machlup (1967), ‘Theories of the Firm: Marginalist, Behavioral, Managerial’, American Economic Review, LVII (1), March, 1–33 3. Oliver Hart (1989), ‘An Economist’s Perspective on the Theory of the Firm’, Columbia Law Review: Contractual Freedom in Corporate Law, 89 (7), November, 1757–74 4. Harold Demsetz (1988), ‘The Theory of the Firm Revisited’, Journal of Law, Economics, and Organization, 4 (1), Spring, 141–61 5. Brian J. Loasby (1971), ‘Hypothesis and Paradigm in the Theory of the Firm’, Economic Journal, 81 (324), December, 863–85 PART II RISK AND UNCERTAINTY 6. Frank H. Knight ([1921] 1964), ‘The Meaning of Risk and Uncertainty’, in Risk, Uncertainty and Profit, Part Three, Chapter VII, New York, NY, USA: Augustus M. Kelley, 197–232 7. John Maynard Keynes (1936), ‘The State of Long-Term Expectation’, in The General Theory of Employment, Interest and Money, Book IV, Chapter 12, New York, NY, USA: Harcourt, Brace and World, 147–64 8. Armen A. Alchian (1950), ‘Uncertainty, Evolution, and Economic Theory’, Journal of Political Economy, 58 (3), June, 211–21 9. Richard N. Langlois and Metin M. Cosgel (1993), ‘Frank Knight on Risk, Uncertainty, and the Firm: A New Interpretation’, Economic Inquiry, XXXI (3), July, 456–65 10. Kenneth J. Arrow (1982), ‘Risk Perception in Psychology and Economics’, Economic Inquiry, XX (1), January, 1–9 11. David Teece, Margaret Peteraf and Sohvi Leih (2016), ‘Dynamic Capabilities and Organizational Agility: Risk, Uncertainty, and Strategy in the Innovation Economy’, California Management Review, 58 (4), Summer, 13–35 PART III INFORMATION AND KNOWLEDGE 12. Michael Polanyi ([1966] 2009), ‘Tacit Knowing’, in The Tacit Dimension, with a new foreword by Amartya Sen, Chapter 1, Chicago, IL, USA and London, UK: University of Chicago Press, 3–25 13. Kenneth J. Arrow (1962), ‘Economic Welfare and the Allocation of Resources for Invention’, in Universities-National Bureau Committee for Economic Research and Committee on Economic Growth of the Social Science Research Council (eds), The Rate and Direction of Inventive Activity: Economic and Social Factors, Part VI, Princeton, NJ, USA: Princeton University Press and New York, NY, USA: National Bureau of Economic Research, 609–26 14. F. A. Hayek (1945), ‘The Use of Knowledge in Society’, American Economic Review, XXXV (4), September, 519–30 15. Ikujiro Nonaka, Ryoko Toyama and Akiya Nagata (2000), ‘A Firm as a Knowledge-creating Entity: A New Perspective on the Theory of the Firm’, Industrial and Corporate Change, 9 (1), March, 1–20 16. David J. Teece (1981), ‘The Multinational Enterprise: Market Failure and Market Power Considerations’, Sloan Management Review, 22 (3), Spring, 3–17 17. Bruce Kogut and Udo Zander (1993), ‘Knowledge of the Firm and the Evolutionary Theory of the Multinational Corporation’, Journal of International Business Studies, 24 (4), December, 625–45 PART IV BOUNDED RATIONALITY AND DECISION-MAKING 18. Herbert A. Simon (1972), ‘Theories of Bounded Rationality’, in C. B. McGuire and Roy Radner (eds), Decision and Organization: A Volume in Honor of Jacob Marschak, Chapter 8, Amsterdam, the Netherlands: North-Holland Publishing Company, 161–76 19. Richard M. Cyert and James G. March ([1963] 1992), ‘A Summary of Basic Concepts in the Behavioral Theory of the Firm’, in A Behavioral Theory of the Firm, 2nd edn, Chapter 7, Cambridge, MA, USA and Oxford, UK: Blackwell Publishers, 161–76 20. Brian J. Loasby (1967), ‘Long-Range Formal Planning in Perspective’, Journal of Management Studies, 4 (3), October, 300–308 21. Linda Argote and Henrich R. Greve (2007), ‘A Behavioral Theory of the Firm – 40 Years and Counting: Introduction and Impact’, Organization Science, 18 (3), May–June, 337–49 22. Oliver Hart (1990), ‘Is “Bounded Rationality” an Important Element of a Theory of Institutions?’, Journal of Institutional and Theoretical Economics, 146 (4), December, 696–702 23. Amos Tversky and Daniel Kahneman (1981), ‘The Framing of Decisions and the Psychology of Choice’, Science, 211 (4481), 30th January, 453–58 PART V MOTIVES AND INCENTIVES 24. Dale T. Miller (1999), ‘The Norm of Self-Interest’, American Psychologist, 54 (12), December, 1053–60 25. Michael C. Jensen (1994), ‘Self-Interest, Altruism, Incentives, and Agency Theory’, Journal of Applied Corporate Finance, 7 (2), Summer, 40–45 26. Oliver E. Williamson (1993), ‘Opportunism and its Critics’, Managerial and Decision Economics, 14 (2), March–April, 97–107 27. Charles W. L. Hill (1990), ‘Cooperation, Opportunism, and the Invisible Hand: Implications for Transaction Cost Theory’, Academy of Management Review, 15 (3), July, 500–13 28. Michael L. Barnett and Robert M. Salomon (2012), ‘Does it Pay to be Really Good? Addressing the Shape of the Relationship between Social and Financial Performance’, Strategic Management Journal, 33 (11), November, 1304–20 29. Alexander Pepper and Julie Gore (2015), ‘Behavioral Agency Theory: New Foundations for Theorizing About Executive Compensation’, Journal of Management, 41 (4), May, 1045–68 PART VI RESOURCES AND CAPABILITIES 30. Edith T. Penrose (1960), ‘The Growth of the Firm – A Case Study: The Hercules Powder Company’, Business History Review, 34 (1), Spring, 1–23 31. Kathleen R. Conner (1991), ‘A Historical Comparison of Resource-Based Theory and Five Schools of Thought Within Industrial Organization Economics: Do We Have a New Theory of the Firm?’, Journal of Management, 17 (1), March, 121–54 32. Jeroen Kraaijenbrink, J.-C. Spender and Aard J. Groen (2010), ‘The Resource-Based View: A Review and Assessment of Its Critiques’, Journal of Management, 36 (1), January, 349–72 33. David J. Teece, Gary Pisano and Amy Shuen (1997), ‘Dynamic Capabilities and Strategic Management’, Strategic Management Journal, 18 (7), August, 509–33 34. David J. Teece (2014), ‘The Foundations of Enterprise Performance: Dynamic and Ordinary Capabilities in an (Economic) Theory of Firms’, Academy of Management Perspectives: Symposium, 28 (4), November, 328–52 35. David J. Teece (2019), ‘A Capability Theory of the Firm: An Economics and (Strategic) Management Perspective’, New Zealand Economic Papers, 53 (1), 1–43 PART VII TRANSACTIONS 36. John R. Commons (1932), ‘The Problem of Correlating Law Economics and Ethics’, Wisconsin Law Review, 8, 3–26 37. Ian R. Macneil (1978), ‘Contracts: Adjustment of Long-Term Economic Relations under Classical, Neoclassical, and Relational Contract Law’, Northwestern University Law Review, 72 (6), 854–905 38. Oliver E. Williamson (1981), ‘The Economics of Organization: The Transaction Cost Approach’, American Journal of Sociology, 87 (3), November, 548–77 39. Sumantra Ghoshal and Peter Moran (1996), ‘Bad for Practice: A Critique of the Transaction Cost Theory’, Academy of Management Review, 21 (1), January, 13–47 40. Neil M. Kay (2015), ‘Coase and the Contribution of “The Nature of the Firm”’, Managerial and Decision Economics, Special Issue: Coase and the Theory of the Firm, 36 (1), January, 44–54 41. David J. Teece (1980), ‘Economies of Scope and the Scope of the Enterprise’, Journal of Economic Behavior and Organization, 1 (3), September, 223–47 42. David J. Teece (1982), ‘Towards an Economic Theory of the Multiproduct Firm’, Journal of Economic Behavior and Organization, 3 (1), March, 39–63 43. Kirk Monteverde and David J. Teece (1982), ‘Supplier Switching Costs and Vertical Integration in the Automobile Industry’, Bell Journal of Economics, 13 (1), Spring, 206–13 44. David J. Teece (1986), ‘Transactions Cost Economics and the Multinational Enterprise: An Assessment’, Journal of Economic Behavior and Organization, 7 (1), March, 21–45 Index Volume II Contents Acknowledgements Introduction An introduction to both volumes by the editors appears in Volume I PART I NORMS, RULES AND ROUTINES 1. Douglass C. North (1986), ‘The New Institutional Economics’, Journal of Institutional and Theoretical Economics: 3rd Symposium on The New Institutional Economics, 142 (1), March, 230–37 2. Oliver Hart (2001), ‘Norms and the Theory of the Firm’, University of Pennsylvania Law Review, Symposium: Norms and Corporate Law, 149 (6), June, 1701–15 3. Markus C. Becker (2005), ‘The Concept of Routines: Some Clarifications’, Cambridge Journal of Economics, 29 (2), March, 249–62 4. Richard R. Nelson and Sidney G. Winter (1982), ‘Organizational Capabilities and Behavior’, in An Evolutionary Theory of Economic Change, Part II, Chapter 5, Cambridge, MA, USA and London, UK: Belknap Press of Harvard University Press, 96–136, references PART II THE ENTREPRENEUR 5. Joseph A. Schumpeter ([1934] 1983), ‘Entrepreneurial Profit’, in The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle, trans. by Redvers Opie, with a new introduction by John E. Elliott, Chapter IV, New Brunswick, NJ, USA and London UK: Transaction Publishers, 128–56 6. Joseph A. Schumpeter ([1942] 1962), ‘Crumbling Walls’, in Capitalism, Socialism and Democracy, Part II, Chapter XII, New York, NY, and Evanston, IL, USA: Harper and Row Publishers, 131–42 7. Edith Tilton Penrose (1959), ‘The Productive Opportunity of the Firm and the “Entrepreneur”’, in The Theory of the Growth of the Firm, Chapter III, New York, NY, USA: John Wiley and Sons, 31–42 8. Richard N. Langlois (2007), ‘The Entrepreneurial Theory of the Firm and the Theory of the Entrepreneurial Firm’, Journal of Management Studies, Special Issue: The Entrepreneurial Theory of the Firm, 44 (7), November, 1107–24 9. Mark Casson (2005), ‘Entrepreneurship and the Theory of the Firm’, Journal of Economic Behavior and Organization, 58 (2), October, 327–48 10. B. J. Loasby (1982), ‘The Entrepreneur in Economic Theory’, Scottish Journal of Political Economy, 29 (3), November, 235–45 11. Sharon A. Alvarez and Jay B. Barney (2007), ‘The Entrepreneurial Theory of the Firm’, Journal of Management Studies, Special Issue: The Entrepreneurial Theory of the Firm, 44 (7), November, 1057–63 12. David J. Teece (2016), ‘Dynamic Capabilities and Entrepreneurial Management in Large Organizations: Toward a Theory of the (Entrepreneurial) Firm’, European Economic Review, 86, July, 202–16 PART III GOVERNANCE 13. Alfred Marshall ([1890] 1920), ‘Industrial Organization, Continued. Business Management’, in Principles of Economics: An Introductory Volume, 8th edn, Book IV, Chapter XII, London, UK: Macmillan and Co., 291–313 14. Adolf A. Berle, Jr. and Gardiner C. Means ([1932] 1933), ‘The Divergence of Interest between Ownership and Control’, in The Modern Corporation and Private Property, Book I, Chapter VI, New York, NY, USA: The Macmillan Company, 119–25 15. Harold Demsetz (1983), ‘The Structure of Ownership and the Theory of the Firm’, Journal of Law and Economics: Corporations and Private Property: A Conference Sponsored by the Hoover Institution, XXVI (2), June, 375–90 16. Oliver E. Williamson (2002), ‘The Theory of the Firm as Governance Structure: From Choice to Contract’, Journal of Economic Perspectives, 16 (3), Summer, 171–95 17. Thomas Donaldson and Lee E. Preston (1995), ‘The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications’, Academy of Management Review, 20 (1), January, 65–91 18. Albert O. Hirschman (1980), ‘Exit, Voice, and Loyalty: Further Reflections and a Survey of Recent Contributions’, Milbank Memorial Fund Quarterly: Health and Society, 58 (3), Summer, 430–53 19. David J. Teece (2012), ‘Management and Governance of the Business Enterprise: Agency, Contracting, and Capabilities Perspectives’, in Dennis C. Mueller (ed.), The Oxford Handbook of Capitalism, Part III, Chapter 8, New York, NY, USA: Oxford University Press, 220–49 PART IV HIERARCHIES 20. Alfred D. Chandler, Jr. ([1962] 1990), ‘Conclusion – Chapters in the History of the Great Industrial Enterprise’, in Strategy and Structure: Chapters in the History of the American Industrial Enterprise, Cambridge, MA, USA and London, UK: MIT Press, 383–96, notes 21. Alfred D. Chandler, Jr. (1991), ‘The Functions of the HQ Unit in the Multibusiness Firm’, Strategic Management Journal, Special Issue: Fundamental Research Issues in Strategy and Economics, 12 (S2), Winter, 31–50 22. Oliver E. Williamson (1975), ‘The Multidivisional Structure’, in Markets and Hierarchies: Analysis and Antitrust Implications, Chapter 8, New York, NY, USA: The Free Press, 132–54, references PART V CO–OPERATION, TEAMS AND NETWORKS 23. Armen A. Alchian and Harold Demsetz (1972), ‘Production, Information Costs, and Economic Organization’, American Economic Review, 62 (5), December, 777–95 24. William G. Ouchi (1980), ‘Markets, Bureaucracies, and Clans’, Administrative Science Quarterly, 25 (1), March, 129–41 25. Candace Jones, William S. Hesterly and Stephen P. Borgatti (1997), ‘A General Theory of Network Governance: Exchange Conditions and Social Mechanisms’, Academy of Management Review, 22 (4), October, 911–45 26. J. Carlos Jarillo (1988), ‘On Strategic Networks’, Strategic Management Journal, 9 (1), January–February, 31–41 27. Walter W. Powell (1987), ‘Hybrid Organizational Arrangements: New Form or Transitional Development?’, California Management Review, 30 (1), Fall, 67–87 28. Sumantra Ghoshal and Christopher A. Bartlett (1990), ‘The Multinational Corporation as an Interorganizational Network’, Academy of Management Review, 15 (4), October, 603–25 PART VI INNOVATION AND APPROPRIABILITY 29. Thorstein Veblen (1898), ‘Why is Economics not an Evolutionary Science?’, Quarterly Journal of Economics, 12 (4), July, 373–97 30. Joseph A. Schumpeter ([1942] 1962), ‘The Process of Creative Destruction’, in Capitalism, Socialism and Democracy, Part II, Chapter VII, New York, NY, and Evanston, IL, USA: Harper and Row Publishers, 81–86 31. W. Brian Arthur (1989), ‘Competing Technologies, Increasing Returns, and Lock-In by Historical Events’, Economic Journal, 99 (394), March, 116–31 32. Giovanni Dosi (2013), ‘Innovation, Evolution, and Economics: Where We Are and Where We Should Go’, in Jan Fagerberg, Ben R. Martin and Esben Sloth Andersen (eds), Innovation Studies: Evolution and Future Challenges, Part I, Chapter 5, New York, NY, USA: Oxford University Press, 111–33 33. David J. Teece (1986), ‘Profiting from Technological Innovation: Implications for Integration, Collaboration, Licensing and Public Policy’, Research Policy, 15 (6), December, 285–305 34. David J. Teece (2006), ‘Reflections on “Profiting from Innovation”’, Research Policy, 35 (8), October, 1131–46 35. David J. Teece (2010), ‘Technological Innovation and the Theory of the Firm: The Role of Enterprise-Level Knowledge, Complementaries, and (Dynamic) Capabilities’, in Bronwyn H. Hall and Nathan Rosenberg (eds), Handbook of the Economics of Innovation, Volume I, Part III, Chapter 16, Amsterdam, the Netherlands: North-Holland Publishing Company, 679–730 36. Sidney G. Winter (2006), ‘The Logic of Appropriability: From Schumpeter to Arrow to Teece’, Research Policy, 35 (8), October, 1100–106 PART VII FUTURE DIRECTIONS 37. Paul Milgrom and John Roberts (1988), ‘Economic Theories of the Firm: Past, Present, and Future’, Canadian Journal of Economics, XXI (3), August, 444–58 38. Christos N. Pitelis and David J. Teece (2009), ‘The (New) Nature and Essence of the Firm’, European Management Review, 6 (1), Spring, 5–15 39. Pierre Garrouste and Stéphane Saussier (2005), ‘Looking for a Theory of the Firm: Future Challenges’, Journal of Economic Behavior and Organization, 58 (2), October, 178–99 Index

Read more less

Book SynopsisThis book explores novel research perspectives at the intersection of environmental/natural resource economics and productivity analysis, emphasizing the link between productivity and efficiency measurement, and environmental impacts. The purpose of the book is to present new approaches and methods for measuring environmentally adjusted productivity and efficiency, and for incorporating natural resources in standard national accounting practices. These methods are applicable in many contexts, including air and water pollution, climate change, green accounting, and environmental regulation. The contributions, written by distinguished leaders in the field, provide an up-to-date assessment of the state of the art in environmentally adjusted productivity and efficiency analysis. A review of the rapidly expanding literature is included and complemented by international case studies. The book's forward-looking ideas and new theories and methods trace future directions in this exciting and topical research area. This is an essential tool for researchers and scholars, including postgraduate students, working in the area of international and environmental accounting, and productivity and efficiency analysis. The book will also have a broad appeal for various professionals including statisticians, national accountants and policymakers.Contributors include: M. Akter, T. Ancev, M.A.S. Azad, Á. Bellver-Domingo, H.K. Edmonds, M. Eigenraam, R.G. Färe, K.J. Fox, S. Grosskopf, A. Hailu, F. Hernández-Sancho, V.-N. Hoang, N. Hughes, W. Ingram, H. Jahan, B. Lamizana-Diallo, K. Lawson, L.Y.T. Lee, C.A.K. Lovell, J.E. Lovell, C. Ma, C. Obst, C.A. Pasurka, Jr., C. WilsonTrade Review'The international community has signed up to the Sustainable Development Goals and economic measurement has to better gauge how the economy and the environment interact. Productivity is a core economic indicator. Yet, in its traditional set-up, it takes no account of environmental services provided to the economy, such as natural resource flows or emission sink services. This book brings together the latest research to account for these environmental services and does so in an authoritative way. An excellent overview of the theoretical foundations blends with extensive references to the literature and many empirical examples.' --Paul Schreyer, OECD, France'Consistent growth of productivity is key to improving standards of living, but not if it comes at the expense of environmental quality. This important and timely book provides a compact yet rigorous survey of methods for measuring environmentally adjusted productivity with several chapters demonstrating methodological advances. Empirical applications range from total factor productivity in a large panel of OECD countries, to productivity of shrimp farming in Bangladesh, and crop-farming in southern Australia where deteriorating weather conditions had masked productivity growth.' --Alan Randall, The Ohio State University, US and the University of Sydney, AustraliaTable of ContentsContents: 1. Introduction Tiho Ancev, M.A. Samad Azad and Francesc Hernández Sancho 2. Environmentally Adjusted Productivity and Efficiency: A Review of Concepts, Methods and Empirical Work Tiho Ancev, M.A. Samad Azad and Mahmuda Akter 3. Modeling Pollution Abatement Technologies as a Network Rolf G. Färe, Shawna Grosskopf, Carl A. Pasurka, Jr. 4. Efficiency Analysis in Uncertain Operating Environments: The Problem with Outliers Kevin J. Fox and Lisa Y.T. Lee 5. Assessing Stream Health With Respect to Ecological Connectivity H.K. Edmonds, J.E. Lovell and C.A.K. Lovell 6. Accounting for nutrient pollution in measuring agricultural total factor productivity: A study of OECD economies Viet-Ngu Hoang and Clevo Wilson 7. Incorporating the Environment in Agricultural Productivity: Applying Advances in International Environmental Accounting Carl Obst and Mark Eigenraam 8. Climate Adjusted Productivity in Australian Cropping Farms Neal Hughes and Kenton Lawson 9. Environmentally Adjusted Efficiency of Municipal Water Suppliers Fransec Hernández-Sancho and Águeda Bellver-Domingo 10. Valuing Environmental and Health Impacts from No Action in Wastewater Management Francesc Hernández-Sancho, Birguy Lamizana-Diallo and William Ingram 11. Estimating the Cost of Carbon Abatement for China Atakelty Hailu and Chunbo Ma 12. Environmentally adjusted efficiency of shrimp farming in Bangladesh Hasneen Jahan and Tiho Ancev Index

Read more less

Book SynopsisThis volume presents a compilation of key papers chronicling the evolution of the economics of information into the economics of knowledge. It traces the unfolding of the fertile ambiguity and ambivalence of the notion of information with the identification and eventual separation of its two basic, quite distinct meanings: knowledge and signals. It documents the progressive understanding that it is not only necessary to search, screen and understand signals, but also to assess and select them so as to distinguish between true, false and fake ones. The capability to process signals and transform them into actual information stems from the stock of competence and knowledge that individuals and organizations possess and mobilize. The success of information economics paves the way to the economics of knowledge and this review will be an indispensable research tool for all those working and studying in the field. Table of ContentsContents: Acknowledgements Introduction From the Economics of Information to the Economics of Knowledge Cristiano Antonelli PART I THE STATE OF THE ART 1. Michael Spence (2002), ‘Signaling in Retrospect and the Informational Structure of Markets’, American Economic Review, 92 (3), June, 434–59 2. George A. Akerlof (2002), ’Behavioral Macroeconomics and Macroeconomic Behavior’, American Economic Review, 92 (3), June, 411–33 3. Joseph E. Stiglitz (2002), ‘Information and the Change in the Paradigm in Economics’, American Economic Review, 92 (3), June, 460–501 PART II APPLICATIONS AND EXTENSIONS 4. John G. Riley (2001), ‘Silver Signals: Twenty-Five Years of Screening and Signaling’, Journal of Economic Literature, XXXIX (2), June, 432–78 5. Kenneth J. Arrow (1996), ‘The Economics of Information: An Exposition’, Empirica, 23 (2), June, 119–28 6. W. Bentley MacLeod (2007), ‘Reputations, Relationships, and Contract Enforcement’, Journal of Economic Literature, XLV (3), September, 595–628 7. Bengt Holmström (1999), ‘Managerial Incentive Problems: A Dynamic Perspective’, Review of Economic Studies, Special Issue: Contracts, 66 (1), January, 169–82 8. Jeffrey C. Ely and Juuso Välimäki (2003), ‘Bad Reputation’, Quarterly Journal of Economics, CXVIII (3), August, 785–814 9. Johannes Hörner (2002), ‘Reputation and Competition’, American Economic Review, 92 (3), June, 644–63 10. Mathias Dewatripont and Jean Tirole (2005), ‘Modes of Communication’, Journal of Political Economy, 113 (6), December, 1217–38 11. Richard Rogerson, Robert Shimer and Randall Wright (2005), ‘Search-Theoretic Models of the Labor Market: A Survey’, Journal of Economic Literature, XLIII (4), December, 959–88 12. Dean Karlan, Markus Mobius, Tanya Rosenblat and Adam Szeidl (2009), ‘Trust and Social Collateral’, Quarterly Journal of Economics, 124 (3), August, 1307–61 13. Abhijit V. Banerjee (1992), ‘A Simple Model of Herd Behavior’, Quarterly Journal of Economics, CVII (3), August, 797–817 14. Yannis M. Ioannides and Linda Datcher Loury (2004), ‘Job Information Networks, Neighborhood Effects, and Inequality’, Journal of Economic Literature, XLII (4), December, 1056–93 15. Matthew O. Jackson (2014), ‘Networks in the Understanding of Economic Behaviors’, Journal of Economic Perspectives, 28 (4), Fall, 3–22 16. H. Peyton Young (2009), ‘Innovation Diffusion in Heterogeneous Populations: Contagion, Social Influence, and Social Learning’, American Economic Review, 99 (5), December, 1899–924 17. Sushil Bikhchandani, David Hirshleifer and Ivo Welch (1992), ‘A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades’, Journal of Political Economy, 100 (5), October, 992–1026 18. Roland Benabou and Guy Laroque (1992), ‘Using Privileged Information to Manipulate Markets: Insiders, Gurus, and Credibility’, Quarterly Journal of Economics, CVII (3), August, 921–58 PART III TOWARDS THE ECONOMICS OF KNOWLEDGE 19. Joseph E. Stiglitz (2000), ‘The Contributions of the Economics of Information to Twentieth Century Economics’, Quarterly Journal of Economics, 115 (4), November, 1441–78 20. Kenneth J. Arrow (1969), ‘Classificatory Notes on the Production and Transmission of Technological Knowledge’, American Economic Review: Papers and Proceedings, 59 (2), May, 29–35 21. Larry Samuelson (2004), ‘Modeling Knowledge in Economic Analysis’, Journal of Economic Literature, XLII (2), June, 367–403 22. Bo Carlsson and Gunnar Eliasson (1994), ‘The Nature and Importance of Economic Competence’, Industrial and Corporate Change, 3 (3), 687–711 23. Patrick Bolton and Mathias Dewatripont (1994), ‘The Firm as a Communication Network’, Quarterly Journal of Economics, CIX (4), November, 809–39 24. Luis Garicano (2000), ‘Hierarchies and the Organization of Knowledge in Production’, Journal of Political Economy, 108 (5), October, 874–904 25. Alice Lam (2000), ‘Tacit Knowledge, Organizational Learning and Societal Institutions: An Integrated Framework’, Organization Studies, 21 (3), May, 487–513 26. Luis Garicano and Yanhui Wu (2012), ‘Knowledge, Communication, and Organizational Capabilities’, Organization Science, 23 (5), September–October, 1382–97 27. Robin Cowan and Nicolas Jonard (2004), ‘Network Structure and the Diffusion of Knowledge’, Journal of Economic Dynamics and Control, 28 (8), June, 1557–75 28. Richard Blundell and Thomas M. Stoker (2005), ‘Heterogeneity and Aggregation’, Journal of Economic Literature, XLIII (2), June, 347–91 29. Simon Loertscher, Leslie M. Marx and Tom Wilkening (2015), ‘A Long Way Coming: Designing Centralized Markets with Privately Informed Buyers and Sellers’, Journal of Economic Literature, 53 (4), December, 857–97 30. Simone Landini, Mauro Gallegati and Joseph E. Stiglitz (2015), ‘Economies with Heterogeneous Interacting Learning Agents’, Journal of Economic Interaction and Coordination: Special Issue in Honor of Masanao Aoki, 10 (1), April, 91–118 31. Alan Kirman (1997), ‘The Economy as an Evolving Network’, Journal of Evolutionary Economics, 7 (4), December, 339–53 32. Alan Kirman (2011), ‘Learning in Agent-based Models’, Eastern Economic Journal: Symposium on Agent-based Computational Economics, 37 (1), Winter, 20–27 33. David Colander, Peter Howitt, Alan Kirman, Axel Leijonhufvud and Perry Mehrling (2008), ‘Beyond DSGE Models: Toward an Empirically Based Macroeconomics’, American Economic Review: Papers and Proceedings, 98 (2), May, 236–40 Index

Read more less

Book SynopsisTransport Economics is a revised and refined fourth edition of a well-established textbook which applies economic analysis to transport issues.Each chapter has been carefully reworked and includes new material dealing with the regulation of transport markets. To assist in pedagogy, twenty or so free standing ‘Exhibits’ now provide a variety of case studies and narratives to supplement the text. More up-to-date examples and illustrations also make the understanding of economic principles easier and assist in the assimilation of economic concepts. The theoretical content is supported with considerable empirical evidence drawn from a wide range of international sources. Although aimed primarily at university students, this volume is accessible to non-specialists who have an interest in transport economics. It has no modal bias but rather examines in general terms the many aspects of the demand for, and supply of, transport together with the various methods of government intervention needed to ensure that social and environmental criteria are attained.This successful and widely adopted textbook has been meticulously revised and updated for the fourth edition. As the best intermediate text currently available, it will be welcomed by students, policymakers and all those concerned with the supply of transport services.Trade ReviewAcclaim for the third edition:‘Button draws together the burgeoning literature in transportation economics. It is a comprehensive standalone text covering all aspects of the field including new sections on logistics and congestion pricing. It should be required reading for every student of transportation and on the library shelf of all transportation researchers and practitioners, an excellent book.’ -- David Gillen, University of British Columbia, CanadaTable of ContentsContents: Preface 1. Transport, Economics, and Economists 2. Transport and the Economy: Some Numbers 3. Transport and Location 4. The Demand for Transport 5. Direct Costs of Transport 6. The External Economic Costs of Transport 7. The Pricing of Transport 8. Containing the Environmental Costs of Transport 9. Optimizing Traffic Congestion 10. Economics and Transport Logistics 11. Investment Criteria: Private and Public Sector Analysis 12. Transport Planning and Forecasting 13. Transport and Economic Development 14. Political Economy and Transport Regulation Index

Read more less

Book SynopsisGame theory explores situations in which agents interact strategically and provides a useful foundation for studying many traditional industrial organization topics. This approach has also enabled the emergence of new areas of enquiry including law and economics, networks, the digital economy, auctions, experimental game theory and many others.This second volume of the Handbook includes original contributions by experts in the field. It provides up-to-date surveys of the most relevant applications of game theory to industrial organization. The book covers both classical and industrial organization topics such as mergers in markets with homogeneous and differentiated goods, leniency and coordinated effects in cartels and mergers, static and dynamic contests, consumer search and product safety, strategic delegation, platforms and network effects, auctions, environmental and resource economics, intellectual property, healthcare, corruption, experimental industrial organization, and empirical models of research and development.Authoritative and engaging, this unique Handbook will be an indispensable resource for all serious academics, researchers and students of industrial economics and game theory.Contributors incude: S. Anderson, A. Barge-Gil, P. Belleflamme, J. Brandts, R. Burguet, L. Corchón, A. Daughety, N. Fabra, R. Fauli-Oller, J.-J. Ganuza, M.l. Gonzalez Maestre, A. Hernando-Veciana, M. Hoffmann, E. Huergo, M. Kopel, L. Lambertini, A. Lopez, M. Marini, C. Marvao, E. Maskin, J.G. Montalvo, L. Moreno, M. Motta, P. Olivella, M. Peitz, M. Pezzino, M. Polo, J. Potters, J. Reinganum, R. Renault, G. Rota Preziosi, J. Sandonis, M. Serena, G. SpagnoloTrade Review'The publication of this Handbook, bringing together game theory and industrial organization, is an occasion worth celebrating. . . . I am truly delighted that there is now a Handbook devoted to this transformative partnership.' --From the foreword by Eric Maskin'With these two volumes, Professors Corchon and Marini have provided an invaluable public good to our profession. Corchon and Marini have gathered leading scholars to present a broad and deep overview of the definitive impact that game theory had and still continues to have on the field of industrial organization over the recent years. Any serious researcher willing to take stock of advances in the field should certainly consider to study the material covered in these volumes, from the more fundamental issues in Volume 1 to the more applied topics presented in Volume 2.' --David Martimort, Paris School of Economics, FranceTable of ContentsContents: Foreword by Eric Maskin 1. Introduction Luis C. Corchón and Marco A. Marini PART I COLLUSION AND MERGERS 2. Horizontal mergers in oligopoly Ramon Faulí‐Oller and Joel Sandonis 3. Collusive agreements in vertically differentiated markets Marco A. Marini 4. Cartels and leniency: Taking stock of what we learnt Catarina Marvão and Giancarlo Spagnolo 5. Assessing coordinated effects in merger cases Natalia Fabra and Massimo Motta PART II CONTESTS 6. Contest theory Luis C. Corchón and Marco Serena 7. Endogenous timing in contests Magnus Hoffmann and Grégoire Rota‐Graziosi PART III SPECIAL TOPICS 8. Firm pricing with consumer search Simon P. Anderson and Régis Renault 9. Market structure, liability, and product safety Andrew F. Daughety and Jennifer Reinganum 10. Strategic delegation in oligopoly Michael Kopel and Mario Pezzino 11. Platforms and network effects Paul Belleflamme and Martin Peitz 12. Auctions Ángel Hernando-Veciana 13. Differential oligopoly games in environmental and resource economics Luca Lambertini 14. Intellectual property Miguel González‐Maestre 15. Healthcare and health insurance markets Pau Olivella 16. The microeconomics of corruption Roberto Burguet, Juan-José Ganuza and José G. Montalvo PART IV EXPERIMENTAL AND EMPIRICAL EVIDENCE 17. Experimental industrial organization Jordi Brandts and Jan Potters 18. Empirical models of firms’ R&D Andrés Barge-Gil, Elena Huergo, Alberto López and Lourdes Moreno Index

Read more less

Book SynopsisThe original essays in this book connect the microeconomic and macroeconomic approaches to public debt. Through their thought-provoking views, leading scholars offer insights into the incentives that individuals and governments may have in resorting to public debt, thereby promoting a clearer understanding of its economic consequences. The authors explore public debt along two distinct but complementary analytical paths. One path concerns microeconomic aspects of public debt as it emerges through budgetary processes where individuals respond to the costs and gains of different courses of action. The other concerns the systemic properties of rational individual acting within a democratic system of political economy. Within this scheme of thought, the two levels of analysis are integrated by recognition that efforts to control macro-level outcomes must address the micro-level circumstances and conditions that promote public debt as systemic budgetary outcomes. Scholars and students, as well as policy makers in public debt and political economy, will find this critical resource invaluable to understanding this vital issue.Contributors include: A. Alupoaiei, F. Balassone, G. Brennan, S. Cecchetti, M. Cecioni, M. Cioffi, W. Cornacchia, F. Corneli, F. Dragu, G. Eusepi, E. Longobardi, K. Mause, F. Neagu, A. Pedone, A. Rieck, L. Schuknecht, G. Semeraro, L. Voinea, R.E. WagnerTable of ContentsContents: Preface PART I PUBLIC DEBT AND INDIVIDUAL RATIONALITY 1. De Viti de Marco vs. Ricardo on Public Debt: Self-Extinction or Default? Giuseppe Eusepi and Richard E. Wagner 2. Governing the Market for Sovereign Bailouts Karsten Mause 3. Political Obligations: Is Debt Special? Geoffrey Brennan 4. Debt Default and the Limits of the Contractual Imagination: Pareto and Mosca Meet Buchanan Richard E. Wagner PART II MACRO CONSEQUENCES AND IMPLICATIONS OF PUBLIC DEBT 5. Political economy of government solvency - the institutional framework for stability and sustainability Andrea Rieck and Ludger Schuknecht 6. On Some Recent Proposals of Public Debt Restructuring in the Eurozone Ernesto Longobardi and Antonio Pedone 7. Economic governance in the euro area: balancing risk reduction and risk sharing Fabrizio Balassone, Sara Cecchetti, Martina Cecioni, Marika Cioffi, Wanda Cornacchia, Flavia Corneli and Gabriele Semeraro 8. Adjustments in the balance sheets – is it normal, this “new normal”? Liviu Voinea, Alexie Alupoaiei, Florin Dragu and Florian Neagu Index

Read more less

Book SynopsisSport has the power to change the world.'' Sports Economics Uncut expresses this insight from Nelson Mandela, exploring sports as a fascinating mirror of the world and a powerful agent of change. In this book, Brian Goff covers subjects ranging from the ebb and flow of racial discrimination, to inequality, law enforcement, managers and risky decisions, club membership, and politics. Much more than merely a review or synthesis, this work extends existing perspectives and explores provocative questions such as: how systematic is racial bias in pro sports today? Is all racial segregation in sports due to racial bias? How much are college athletes really worth, and is league parity really optimal? This book highlights the fascinating paradox of the modest revenues spent on sports but the enormous intangible value of it. The author explains how recent evidence of racial bias in sports actually illustrates how much ground has been gained in society on racial matters; how the scandals of college sports are a built-in feature of a world in which football and basketball athletes are worth millions; how athletic skill can vary widely across and within regions and races, and how this can influence positioning decisions; and how managers reflect both traditional economic views of decision making and more recent behavioral views. While drawing from widespread academic studies, this is a lively presentation accessible to a wide audience, with extensive but easy to digest data. Students and scholars of sports economics, as well as those studying sports analysis or related areas, will find it an engaging and eye-opening read.Table of ContentsContents : 1. Why Consumers Wear Sports Gear 2. How MLB Figured Out Its Fans 3. The Road from Robinson to Kaepernick 4. How Markets Penalize Racists, Slowly 5. Segregation with and without Discrimination 6. Throwing Bottles in Cleveland 7. Bill Belichick as Economist 8. Upside Down in the Premier League 9. Big Revenues and Low Profits in College Sports 10. Power and Politics in Sports References Index

Read more less

Book SynopsisWritten in a comprehensive yet accessible style, this Handbook introduces readers to a range of modern empirical methods with applications in microeconomics, illustrating how to use two of the most popular software packages, Stata and R, in microeconometric applications. International contributors expertly investigate the development of advanced methods driven by the accumulation of numerous data sets at the level of individuals, households and firms, and by an increase in the capacity and speed of computers. The Handbook highlights that, while the more traditional empirical methods were largely limited to establishing correlations, these new methods aim to uncover causality. Examination of these advances shows new possibilities for applied research in microeconomics in the estimation of sophisticated structural models and the evaluation of policy interventions. This insightful Handbook is a must-read for graduate students and instructors in applied microeconomics as well as researchers in government departments and academia pursuing modern advanced methods of policy evaluation and data analysis.Table of ContentsContents: Introduction to the Handbook of Research Methods and Applications in Empirical Microeconomics ix Nigar Hashimzade and Michael A. Thornton PART I ECONOMETRIC METHODS IN MICROECONOMICS 1 Linear dynamic panel data models 2 Ryo Okui 2 Spatial autoregressive nonlinear models in R with an empirical application in labour economics 23 Anna Gloria Billé 3 Econometric analyses of auctions: a selective review 42 Tong Li and Xiaoyong Zheng 4 An introduction to flexible methods for policy evaluation 82 Martin Huber PART II HOUSEHOLDS, BUSINESSES AND SOCIETIES 5 Econometric models of fertility 113 Alfonso Miranda and Pravin K. Trivedi 6 Measuring discrimination in the labour market 155 Emmanuel Duguet 7 Microeconomic models for designing and evaluating tax-transfer systems 195 Ugo Colombino 8 Bounds on counterfactuals in semiparametric discrete-choice models 223 Khai X. Chiong, Yu-Wei Hsieh and Matthew Shum 9 Bank performance analysis 238 Natalya Zelenyuk and Valentin Zelenyuk 10 Empirical methods in social epidemiology 280 Christopher F. Baum PART III POLICY EVALUATION AND CAUSALITY 11 Policy evaluation using causal inference methods 294 Denis Fougère and Nicolas Jacquemet 12 Regression discontinuity designs in policy evaluation 325 Otávio Bartalotti, Marinho Bertanha and Sebastian Calonico 13 Measuring the effect of health events in the labour market 359 Emmanuel Duguet PART IV NETWORKS AND BIG DATA IN MICROECONOMICS 14 Exploring social media: Twitteronomics and beyond 388 Tho Pham, Piotr Śpiewanowski and Oleksandr Talavera 15 Econometrics of networks with limited access to network data: a literature survey 416 Pedro C.L. Souza 16 Machine learning for causal inference: estimating heterogeneous treatment effects 438 Vishalie Shah, Noemi Kreif and Andrew M. Jones PART V STATA AND R IN MICROECONOMETRIC APPLICATIONS 17 Stochastic frontier analysis in Stata: using existing and coding new commands 489 Oleg Badunenko 18 Modern R workflow and tools for microeconometric data analysis 518 Giovanni Baiocchi 19 Robust inference in panel data microeconometrics, using R 564 Giovanni Millo 20 Econometric estimation of the “Constant Elasticity of Substitution” function in R: the micEconCES package 596 Arne Henningsen, Géraldine Henningsen and Gergő Literáti Index 641

Read more less

Book SynopsisProductivity Perspectives offers a timely and stimulating social science view on the productivity debate, drawing on the work of the ESRC funded Productivity Insights Network. The book examines the drivers and inhibitors of UK productivity growth in the light of international evidence, and the resulting dramatic slowdown and flatlining of productivity growth in the UK. The reasons for this so-called productivity puzzle are not well understood, and this book advances explanations and insights on these issues from different disciplinary and methodological perspectives. It will be of value to all those interested in, and engaging with, the challenge of slowing productivity growth. This book will be essential and insightful reading for academics across the social sciences, business leaders and policy makers working on the productivity puzzle. Written in an accessible manner, it will also be of interest to a wide audience in government, the private sector and civil society. Contributors include: M. Abreu, J. Cook, I. Docherty, G. Dymski, B. Gardiner, D. Hardy, R. Harris, A. Henley, R. Huggins, H. Izushi, R. Lewney, K. Lisenkova, C. Mason, P. McCann, L. McSorley, J. Nelles, K. Newsome, V. Sena, I. Sprackling, T. Vorley, D. WaiteTrade Review'Productivity, what determines it and how to boost it, is one of the great challenges in contemporary economics. This book offers us a hike along the frontiers of current thinking on the productivity puzzle, guided by a team of leading researchers.' --Murray Sherwin, New Zealand Productivity Commission, New Zealand'This book rightly identifies low productivity growth as the central policy challenge of this time and brings a truly broad and diverse set of perspectives to bear on this issue, leading to many fresh insights.' --Robert Inklaar, University of Groningen, the NetherlandsTable of ContentsContents: 1 Introduction to Productivity Perspectives 1 Philip McCann and Tim Vorley 2 Productivity perspectives: observations from the UK and the international arena 18 Philip McCann 3 Measuring productivity 48 Vania Sena 4 FDI, capital and investment markets 78 Richard Harris 5 Innovation and productivity: a multi-perspective assessment 103 Robert Huggins and Hiro Izushi 6 Small business growth and productivity 129 Andrew Henley 7 Productivity and the UK’s deficiency in scale-ups 147 Colin Mason 8 Human capital, skills and productivity 174 Maria Abreu 9 Demographic ageing and productivity 190 Katerina Lisenkova 10 Inequality, well-being and (inclusive) productivity growth 206 Leaza McSorley 11 Contemporary work and employment and the productivity puzzle 224 Kirsty Newsome and Tim Vorley 12 Regional and city productivity debates: insights from work undertaken by Cambridge Econometrics 243 Ben Gardiner and Richard Lewney 13 Infrastructure and productivity 255 Iain Docherty and David Waite 14 From silos to systems: insights and implications for productivity policy 274 Tim Vorley and Jen Nelles 15 Productivity policy review 293 Jonathan Cook, Dan Hardy and Imogen Sprackling 16 The UK productivity paradox and the governance of UK science and technology policy: lessons from California? 324 Gary Dymski Index 363

Read more less

Book SynopsisProductivity Perspectives offers a timely and stimulating social science view on the productivity debate, drawing on the work of the ESRC funded Productivity Insights Network. The book examines the drivers and inhibitors of UK productivity growth in the light of international evidence, and the resulting dramatic slowdown and flatlining of productivity growth in the UK. The reasons for this so-called productivity puzzle are not well understood, and this book advances explanations and insights on these issues from different disciplinary and methodological perspectives. It will be of value to all those interested in, and engaging with, the challenge of slowing productivity growth. This book will be essential and insightful reading for academics across the social sciences, business leaders and policy makers working on the productivity puzzle. Written in an accessible manner, it will also be of interest to a wide audience in government, the private sector and civil society. Contributors include: M. Abreu, J. Cook, I. Docherty, G. Dymski, B. Gardiner, D. Hardy, R. Harris, A. Henley, R. Huggins, H. Izushi, R. Lewney, K. Lisenkova, C. Mason, P. McCann, L. McSorley, J. Nelles, K. Newsome, V. Sena, I. Sprackling, T. Vorley, D. WaiteTrade Review'Productivity, what determines it and how to boost it, is one of the great challenges in contemporary economics. This book offers us a hike along the frontiers of current thinking on the productivity puzzle, guided by a team of leading researchers.' --Murray Sherwin, New Zealand Productivity Commission, New Zealand'This book rightly identifies low productivity growth as the central policy challenge of this time and brings a truly broad and diverse set of perspectives to bear on this issue, leading to many fresh insights.' --Robert Inklaar, University of Groningen, the NetherlandsTable of ContentsContents: 1 Introduction to Productivity Perspectives 1 Philip McCann and Tim Vorley 2 Productivity perspectives: observations from the UK and the international arena 18 Philip McCann 3 Measuring productivity 48 Vania Sena 4 FDI, capital and investment markets 78 Richard Harris 5 Innovation and productivity: a multi-perspective assessment 103 Robert Huggins and Hiro Izushi 6 Small business growth and productivity 129 Andrew Henley 7 Productivity and the UK’s deficiency in scale-ups 147 Colin Mason 8 Human capital, skills and productivity 174 Maria Abreu 9 Demographic ageing and productivity 190 Katerina Lisenkova 10 Inequality, well-being and (inclusive) productivity growth 206 Leaza McSorley 11 Contemporary work and employment and the productivity puzzle 224 Kirsty Newsome and Tim Vorley 12 Regional and city productivity debates: insights from work undertaken by Cambridge Econometrics 243 Ben Gardiner and Richard Lewney 13 Infrastructure and productivity 255 Iain Docherty and David Waite 14 From silos to systems: insights and implications for productivity policy 274 Tim Vorley and Jen Nelles 15 Productivity policy review 293 Jonathan Cook, Dan Hardy and Imogen Sprackling 16 The UK productivity paradox and the governance of UK science and technology policy: lessons from California? 324 Gary Dymski Index 363

Read more less

Book SynopsisThis timely Modern Guide offers critical insights into developments in both professional and recreational sports through the lens of the economic forces that determine them. It explores the benefits of the relationship between sports and economics, highlighting ways that economic research can help to understand sports better and the ways that sport provides opportunities to test economic theories. With both theoretical and empirical chapters, the book looks at the development of European sports economics over the last 20 years, the relationship between competitive balance and attendance, and the potential economic impact of sports events. Chapters further examine specific issues in sports from an economic perspective, including labour market restrictions on professional leagues, refereeing, team dynamics, the importance of good players versus good results and the sports analytics revolution due to big data. The use of state-of-the-art empirical methods makes this Modern Guide a crucial read for economists and sports science researchers looking to better understand both the relationship between the two fields and their own area of research. Sports policy makers will also appreciate the in-depth discussion on a range of different recreational and professional sports.Trade Review'Editors Koning and Kesenne bring together a collection of outstanding scholars in the field of sports economics for this book. Chapter 2 by Fort offers an excellent perspective on the development of the sports economics field and provides a frame for the chapters that follow. The topics are broad ranging and touch on many of the most important research questions in sports economics. This compendium belongs on the bookshelf of anyone engaged in sports economics research.' -- Leo H. Kahane, Providence College, US and Founding Editor of the Journal of Sports Economics'Koning and Kesenne have assembled an excellent roster of many of the world's leading sports economists and they, in turn, provide a superb sampling of some of the latest research in sports economics. These essays go beyond earlier findings to break down the underlying dynamics in key areas. So, for instance, do fans buying high-priced seats have a different utility function than those in low-priced seats? Does video casting of games have a different impact on attendance for mid-week than for weekend games? What are the latest findings on the importance of competitive balance for the success of sports leagues? This book will be an important resource both for researchers and classes in sports economics.' -- Andrew Zimbalist, Smith College, US

Read more less

Book SynopsisElgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary.Written by well-established researchers in behavioural economics, this Research Agenda illustrates the application of incentivised decision-making experiments, highlighting how this can add a new and novel dimension to social science research. Informative and timely, it explores how experiments are being used by pioneers in a diverse range of fields when research questions may not be amenable to field studies, vignettes or surveys.Offering fruitful cross-disciplinary discussions, the chapters look at incentivised decision-making experiments in the study of: social norms, law and economics, environmental regulations, entrepreneurship, healthy behaviour, gender and leadership, political ideology, and neuroeconomics. Chapters provide an opportunity for experienced experimental economists to develop more innovative applications of their tools and scope for less experienced scholars to learn how to incorporate experiments in their research questions. Researchers in economics, political science, sociology, as well as business and management will find this to be a beneficial read. Policy makers looking to understand how experimental tools and behavioural nudges are used to improve policy will also appreciate the key theoretical and practical applications of the topics offered in this Research Agenda.Trade Review‘A definite advantage of A Research Agenda for Experimental Economics is its focus on the most recent developments in specific areas within behavioural economics. The contributing authors demonstrate both a high level of professional expertise and genuine passion for the featured topics. Another strength of the book is its attempt not only to discuss the current state of research in particular fields, but also to provide readers with future directions. Each chapter elaborates on possible (and sometimes even desirable) avenues within the discussed topic. Overall this book is a strong illustration of how broad and absorbing economics is and the importance of multidisciplinarity. Furthermore, there is no path dependence in the collection, so if a reader is interested in a particular topic, they can easily delve into it directly.’ -- Ananish Chaudhuri, LSE Review of Books‘In A Research Agenda for Experimental Economics, Ananish Chaudhuri provides a thoughtful, albeit eclectic collection of chapters on the state of the literature in experimental economics. The set of authors is impressive. Chaudhuri has produced a volume that will do much to promote discussion about innovative, interdisciplinary collaborations.’ -- Alexander Smith, Journal of Economic Psychology‘This edited volume by Ananish Chaudhuri will become standard reading for anyone interested in keeping up with the latest developments in the field of experimental economics. The collection will appeal to a broad audience, and promises to be an important reference for scholars not just of economics, but of sociology, politics, psychology, law and environmental studies.’ -- Abhijit Ramalingam, Journal of Behavioral and Experimental Economics‘This adventurous collection samples widely from interesting domains of economics experiments. It touches all the important themes in why lab control is so extraordinarily useful for understanding general economic principles, and what we can look forward to.‘Table of ContentsContents: 1 Introduction to A Research Agenda for Experimental Economics 1 Ananish Chaudhuri PART I 2 An informational framework for studying social norms 19 James Tremewan and Alexander Vostroknutov 3 Experiments in law and economics 43 Alice Guerra 4 Complying with environmental regulations: experimental evidence 69 Timothy N. Cason, Lana Friesen and Lata Gangadharan 5 Behavioural characteristics, stability of preferences and entrepreneurial success 93 Pushkar Maitra and Ananta Neelim 6 Experimental evidence on behavioural nudges in health 119 John Gibson PART II 7 The gender leadership gap: insights from experiments 137 Catherine Eckel, Lata Gangadharan, Philip J. Grossman, and Nina Xue 8 Experiments in political psychology 163 Kyle Fischer, Quentin D. Atkinson, and Ananish Chaudhuri 9 Neuroeconomics 191 Sarah Cowie, Ian Kirk, and Olav Krigolson 10 Sleep and decision-making 213 David L. Dickinson Index

Read more less

Book SynopsisThis forward-thinking book examines the potential impacts of the Covid-19 pandemic on productivity. Productivity and the Pandemic features 21 chapters authored by 46 experts, examining different aspects of how the pandemic is likely to impact on the economy, society and governance in the medium- and long-term. Drawing on a range of empirical evidence, analytical arguments and new conceptual insights, the book challenges our thinking on many dimensions. With a keen focus on place, firms, production factors and institutions, the chapters highlight how the pre-existing challenges to productivity have been variously exacerbated and mitigated by the pandemic and points out ways forward for appropriate policy-thinking in response to the crisis.An important read for scholars and students interested in the impact of the pandemic, this book will also be an invigorating read for economists and policy-makers looking for more information on how the pandemic and resulting economic recession is affecting productivity.Trade Review‘It is no question that this new monument book will help economists, scholars, and students alike to engage in this new research field. Meanwhile, this book will also be an invigorating resource for policymakers seeking more information on how the pandemic and resulting economic recession are affecting productivity.’ -- Peng Zhao, International Journal of Society Systems Science‘I highly recommend the reading of the expert and rational minutiae in the splendid analysis that constitutes this most worthy and scholarly work.’ -- Sally Ramage, Criminal Law News'The Productivity Insights Network has been building huge insight and credibility in the past two years and with this collection of papers, is leading the way on identifying potential new patterns in our economy.' -- - Tony Danker, Director-General, Confederation of British Industry (CBI), UK'If ever there was a timely book on an important question this is it. The need to address the spatial and human aspects of Britain's low productivity had no sooner reached the top of the political agenda than COVID-19 struck, plunging us into radical uncertainty. This well-focused collection of data-rich studies begins to illuminate how COVID-19 has altered and compounded the productivity problem.' -- - Sir Paul Collier CBE, University of Oxford, UKTable of ContentsContents: Introduction xiii Philip McCann and Tim Vorley 1 The Covid-19 shock: the UK national and regional implications in the light of international evidence 1 Philip McCann and Raquel Ortega-Argilés 2 Frontier and ‘laggard’ firms: will there be significant changes to the distribution of productivity post-Covid-19? 16 Richard Harris 3 Firm strategies under Covid-19 induced uncertainty: implications for policy 32 Vania Sena and Sumon Bhaumik 4 Implications and impacts of the crisis on micro businesses and their future 46 Andrew Henley, Tim Vorley and Cristian Gherhes 5 The impact of Covid-19 on entrepreneurial ecosystems 59 Colin Mason and Michaela Hruskova 6 Financing an entrepreneur-led economic recovery: the impact of the coronavirus on business angel investing 73 Colin Mason 7 The implications of a crisis-driven societal shift to online consumption 88 Stuart Mills, Richard Whittle and Gavin Brown 8 The Covid-19 crisis and implications for skills development and the skills system 104 Anne Green 9 Good work and mental health in the post-Covid era 119 Daniel Kopasker 10 Business models, innovation and employees’ experiences in the workplace: challenges for the post-Covid-19 economy 132 Patricia Findlay, Colin Lindsay and Graeme Roy 11 Transport, the economy and environmental sustainability post-Covid-19 147 Iain Docherty, Greg Marsden, Jillian Anable and Tom Forth 12 Sectoral and spatial impacts of the Covid-19 recession 160 Ben Gardiner, Richard Lewney and Ron Martin 13 Cities, innovation and behavioural change: how the machine is evolving 173 Robert Huggins and Piers Thompson 14 Raising productivity and housing the economy 191 Duncan Maclennan, Julie Tian Miao, Linda Christie and Jinqiao Long 15 The paradox of efficiency: why the second-best may help us hedging risks in uncertain times 205 Ekkehard Ernst 16 Seeing the Covid-19 crises through a Minskyian lens: austerity, stratification, and productivity 219 Gary Dymski and Hanna Szymborska 17 How will the effects of Covid-19 on macroeconomic demand and supply affect firm-level productivity? 237 Don Webber and Gary Dymski 18 From systems change to systems changed: assuming a systems-based approach in response to crisis 250 Jen Nelles, Tim Vorley and Adam Brown 19 Active labour market policy in a post-Covid UK: moving beyond a ‘work first’ approach 263 Katy Jones 20 Recovery and resilience: how can innovation policy support the response 277 Jonathan Cook and Tim Vorley 21 Understanding a pandemic: the power of administrative data 289 Elizabeth Waind, Felix Ritchie, Nick Bailey and the Administrative Data | Agricultural Research Collection project team: Paul Caskie, Sian Morrison-Rees, Sarah Lowe and Nick Webster Index 293

Read more less

Book SynopsisThis forward-thinking book examines the potential impacts of the Covid-19 pandemic on productivity. Productivity and the Pandemic features 21 chapters authored by 46 experts, examining different aspects of how the pandemic is likely to impact on the economy, society and governance in the medium- and long-term. Drawing on a range of empirical evidence, analytical arguments and new conceptual insights, the book challenges our thinking on many dimensions. With a keen focus on place, firms, production factors and institutions, the chapters highlight how the pre-existing challenges to productivity have been variously exacerbated and mitigated by the pandemic and points out ways forward for appropriate policy-thinking in response to the crisis.An important read for scholars and students interested in the impact of the pandemic, this book will also be an invigorating read for economists and policy-makers looking for more information on how the pandemic and resulting economic recession is affecting productivity.Trade Review‘It is no question that this new monument book will help economists, scholars, and students alike to engage in this new research field. Meanwhile, this book will also be an invigorating resource for policymakers seeking more information on how the pandemic and resulting economic recession are affecting productivity.’ -- Peng Zhao, International Journal of Society Systems Science‘I highly recommend the reading of the expert and rational minutiae in the splendid analysis that constitutes this most worthy and scholarly work.’ -- Sally Ramage, Criminal Law News'The Productivity Insights Network has been building huge insight and credibility in the past two years and with this collection of papers, is leading the way on identifying potential new patterns in our economy.' -- - Tony Danker, Director-General, Confederation of British Industry (CBI), UK'If ever there was a timely book on an important question this is it. The need to address the spatial and human aspects of Britain's low productivity had no sooner reached the top of the political agenda than COVID-19 struck, plunging us into radical uncertainty. This well-focused collection of data-rich studies begins to illuminate how COVID-19 has altered and compounded the productivity problem.' -- - Sir Paul Collier CBE, University of Oxford, UKTable of ContentsContents: Introduction xiii Philip McCann and Tim Vorley 1 The Covid-19 shock: the UK national and regional implications in the light of international evidence 1 Philip McCann and Raquel Ortega-Argilés 2 Frontier and ‘laggard’ firms: will there be significant changes to the distribution of productivity post-Covid-19? 16 Richard Harris 3 Firm strategies under Covid-19 induced uncertainty: implications for policy 32 Vania Sena and Sumon Bhaumik 4 Implications and impacts of the crisis on micro businesses and their future 46 Andrew Henley, Tim Vorley and Cristian Gherhes 5 The impact of Covid-19 on entrepreneurial ecosystems 59 Colin Mason and Michaela Hruskova 6 Financing an entrepreneur-led economic recovery: the impact of the coronavirus on business angel investing 73 Colin Mason 7 The implications of a crisis-driven societal shift to online consumption 88 Stuart Mills, Richard Whittle and Gavin Brown 8 The Covid-19 crisis and implications for skills development and the skills system 104 Anne Green 9 Good work and mental health in the post-Covid era 119 Daniel Kopasker 10 Business models, innovation and employees’ experiences in the workplace: challenges for the post-Covid-19 economy 132 Patricia Findlay, Colin Lindsay and Graeme Roy 11 Transport, the economy and environmental sustainability post-Covid-19 147 Iain Docherty, Greg Marsden, Jillian Anable and Tom Forth 12 Sectoral and spatial impacts of the Covid-19 recession 160 Ben Gardiner, Richard Lewney and Ron Martin 13 Cities, innovation and behavioural change: how the machine is evolving 173 Robert Huggins and Piers Thompson 14 Raising productivity and housing the economy 191 Duncan Maclennan, Julie Tian Miao, Linda Christie and Jinqiao Long 15 The paradox of efficiency: why the second-best may help us hedging risks in uncertain times 205 Ekkehard Ernst 16 Seeing the Covid-19 crises through a Minskyian lens: austerity, stratification, and productivity 219 Gary Dymski and Hanna Szymborska 17 How will the effects of Covid-19 on macroeconomic demand and supply affect firm-level productivity? 237 Don Webber and Gary Dymski 18 From systems change to systems changed: assuming a systems-based approach in response to crisis 250 Jen Nelles, Tim Vorley and Adam Brown 19 Active labour market policy in a post-Covid UK: moving beyond a ‘work first’ approach 263 Katy Jones 20 Recovery and resilience: how can innovation policy support the response 277 Jonathan Cook and Tim Vorley 21 Understanding a pandemic: the power of administrative data 289 Elizabeth Waind, Felix Ritchie, Nick Bailey and the Administrative Data | Agricultural Research Collection project team: Paul Caskie, Sian Morrison-Rees, Sarah Lowe and Nick Webster Index 293

Read more less

Book SynopsisAbundant with practical advice and ready-to-use teaching examples, this dynamic guide will help both new and experienced instructors of Principles of Microeconomics to reconsider and refine their courses. Mark Maier and Phil Ruder assemble the wisdom of 25 eminent scholars of economic education on how best to introduce students to the discipline and inspire a long-lasting passion for microeconomics.Beyond offering guidance to educators on how to improve students’ learning experience, the book proposes measures for addressing many of the vexing challenges that face the economics discipline today. Chapters provide suggestions on (1) how to capture students’ attention and ensure their continued engagement, (2) including course content that focuses on important public policy topics and pressing issues within modern society, (3) adopting evidence-based pedagogical strategies in the classroom and online, and (4) tackling issues of diversity, equity, and inclusion within the discipline. The ideas advanced in this illuminating guide highlight the possibility of continued improvement throughout one’s teaching career.The jargon-free advice in this insightful teaching guide will also be of interest to deans, teaching and learning center directors, and other administrators of undergraduate institutions.Trade Review‘Maier and Ruder compile a valuable collection that will have broad appeal to educators interested in rethinking their approach to the Principles of Microeconomics courses. It distinguishes itself from existing volumes in that it includes multiple paradigms, explores updating content, and brings issues of diversity and inclusion to the forefront. Chapters reviewing more traditional pedagogies (such as cooperative learning and experiments) are presented with a fresh perspective and complemented with chapters describing newer approaches (using social media).’ -- KimMarie McGoldrick, University of Richmond, US‘Maier and Ruder provide an essential guide to those who are interested in revising the syllabus for Introductory Microeconomics. It provides concrete suggestions for course focus, course content, and pedagogy. The component essays are well researched, well written, and challenge the reader to consider a variety of alternatives to “chalk and talk.”’ -- Michael K. Salemi, University of North Carolina at Chapel Hill, US‘Want to become a better teacher of economics? Mark Maier and Phil Ruder, along with an all-star set of contributors, reimagine introductory economics. Dive in, soak up all of the wisdom, and cleanse yourself from 20th century misconceptions of how and what to teach.’ -- Dirk Mateer, University of Texas at Austin, USTable of ContentsContents: 1 Improving the Principles of Microeconomics course 1 Phil Ruder and Mark Maier PART I TRADITIONAL AND ALTERNATIVE APPROACHES 2 The deep work of teaching essential Microeconomic Principles 8 Gail M. Hoyt 3 Considerations for the textbook selection process in Principles of Microeconomics 25 Erin A. Yetter 4 Asynchronicity, access, and content: teaching economics in a shifting landscape 44 Belinda Archibong, Olivia Bobrownicki, Rajiv Sethi, and Homa Zarghamee 5 The issues approach to teaching Principles of Microeconomics 59 Wendy A. Stock 6 Revising the traditional Microeconomics course: engaging students via problem-based, positive, paradigmatic pluralism 74 Geoffrey E. Schneider PART II UPDATING COURSE CONTENT 7 Where is the “behavioral” in Introductory Microeconomics? 88 Simon D. Halliday and Emily C. Marshall 8 Suggestions for incorporating sustainability into Principles of Microeconomics 108 Jack Reardon PART III INCLUSIVE TEACHING 9 Promoting inclusivity in Principles of Microeconomics 124 Jennifer Imazeki 10 Creating an anti-racist pedagogy in Principles of Microeconomics 136 Mary J. Lopez and Fernando Lozano 11 Feminist approaches in the Introductory Microeconomics course 152 Pratistha Joshi Rajkarnikar 12 Promoting gender diversity in Introductory Microeconomics 166 Martha Olney PART IV PEDAGOGY 13 Writing in the Introductory Microeconomics course 180 Nathan D. Grawe and George Cusack 14 Taking advantage of structured peer interaction: cooperative learning in the Principles of Microeconomics course 202 Scott P. Simkins, Mark Maier, and Phil Ruder 15 Teaching with experiments in the Introductory Microeconomics course 217 Tisha L.N. Emerson 16 Teaching the Introductory Microeconomics course with social media 230 Abdullah Al-Bahrani, Darshak Patel, and Brandon Sheridan 17 Teaching Introductory Microeconomics online 243 Steven Greenlaw 18 Using Excel to teach Principles of Microeconomics 257 Humberto Barreto Index

Read more less

Book SynopsisExploring why professional team sport clubs are almost always able to survive despite financial mismanagement, inflated player salaries and persistent deficits, this book provides new evidence on how to explain this phenomenon. It looks at the context in which many clubs operate – the soft budget constraint – and how the clubs in this respect resemble state-owned enterprises in socialist countries or big banks in financial crises.Chapters discuss the challenge of hardening the budget constraint, including UEFA’s Financial Fair Play regulation. They include new data about the soft budget constraint phenomenon, including evidence from Central and Eastern Europe. Leading scholars in the field develop the theoretical approach to the topic using institutional theory, dialogue with critics and discussions on the merits and limits of soft budgets. The book also investigates key case studies of bailouts and liquidation of professional sports teams.This will be an invigorating read for scholars and students of sports economics and sports management. It will also be helpful to managers and directors in professional sports clubs looking for a better understanding of the soft budget constraint.Trade Review‘A new strand of literature has developed which applies the soft budget constraints approach to the problems encountered in the European sports industry. Some of the most important authors of this new field, but also a prominent critic, have contributed to this volume, which is a highly recommended read for sports economists and sports managers.’ -- Egon Franck, University of Zurich, Switzerland‘The concept of the soft budget constraint was first developed by the Hungarian economist Janos Kornai in relation to the planned economies of Eastern Europe. More recently, the concept has been applied to professional team sports in Western as well as Eastern Europe, based on the notion that clubs frequently become insolvent and have to be bailed out by external benefactors. This is consistent with win maximisation models with a tendency to overinvest in players (see in particular the chapters by Wladimir Andreff and Stefan Szymanski). Despite the fact that the book is almost wholly devoted to professional football it is a very useful starting point for those sports economists and others wishing to become familiar with the concept.’ -- Peter J. Sloane, Swansea University, UK and IZA, GermanyTable of ContentsContents: Foreword xvii Miklós Rosta Acknowledgements xx Obituary, János Kornai (1928–2021) xxi Klaus Nielsen 1 Introduction: new research pathways in the soft budget constraint approach 1 Rasmus K. Storm, Klaus Nielsen, and Zsolt Havran 2 Soft budget constraints and institutional logics in European Football 12 Bernt Arne Bertheussen and Harry Arne Solberg 3 Hardening the soft budget constraint in professional team sports: why is it so hard? 33 Wladimir Andreff 4 Budget constraints in French professional football: contrasting situations 77 Nadine Dermit-Richard and Aurélien François 5 Heterogeneity of budget constraints in Hungarian and Polish football 103 Karolina Nessel, Zsolt Havran and Tünde Máté 6 The soft budget constraint syndrome in Hungarian professional football from a Central and Eastern European perspective 130 Zsolt Havran and Krisztina András 7 Is there evidence of softness in the budget constraint in football? Some evidence from English clubs 155 Stefan Szymanski 8 Limits of softness in professional team sport clubs 172 Klaus Nielsen, Christian Gjersing Nielsen and Rasmus K. Storm Index

Read more less

Book SynopsisElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world’s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.Offering an engaging overview of the concepts of bounded rationality and their applications, this stimulating Advanced Introduction engages with the topic in a constructively critical manner to introduce new ideas. Chapters cover key topics including: optimally imperfect decisions; ecological rationality; the role of bounded rationality in evolutionary economics; satisficing as a response to bounded rationality; desirable types of economic decisions; the relational exercise of foresight; and the impact of bounded rationality on the efficiency of organizations.Key Features: Demonstrates the progress made in the field over the last century Presents a unique, succinct and useful coverage of the core issues in the topic Outlines different concepts of rationality and specifies factors that result in limited rationality Postgraduate and advanced undergraduate economics and business management students will find this a stimulating read. The easy-to-follow exposition of the topic and careful use of diagrams will also make this an interesting book for decision makers, business managers and policy makers who have studied economics or business administration. Trade Review‘This book is essential reading for those interested in bounded rationality as a framework to understand economic decision making. This well-written book explains how Herbert Simon’s original insight of bounded rationality underlies some of the most basic concepts of economics including constrained optimization, satisficing, and the cross-cultural regularities in human decision making uncovered by behavioral economics.’ -- John Gowdy, Rensselaer Polytechnic Institute, US‘This is a very scholarly and comprehensive look at bounded rationality, a core subject in the behavioural sciences. . . Essential reading. . . It provides an unusually balanced view of the subject.’ -- Konstantinos Katsikopoulos, University of Southampton, UK

Read more less

Book SynopsisElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world’s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.Offering an engaging overview of the concepts of bounded rationality and their applications, this stimulating Advanced Introduction engages with the topic in a constructively critical manner to introduce new ideas. Chapters cover key topics including: optimally imperfect decisions; ecological rationality; the role of bounded rationality in evolutionary economics; satisficing as a response to bounded rationality; desirable types of economic decisions; the relational exercise of foresight; and the impact of bounded rationality on the efficiency of organizations.Key Features: Demonstrates the progress made in the field over the last century Presents a unique, succinct and useful coverage of the core issues in the topic Outlines different concepts of rationality and specifies factors that result in limited rationality Postgraduate and advanced undergraduate economics and business management students will find this a stimulating read. The easy-to-follow exposition of the topic and careful use of diagrams will also make this an interesting book for decision makers, business managers and policy makers who have studied economics or business administration. Trade Review‘This book is essential reading for those interested in bounded rationality as a framework to understand economic decision making. This well-written book explains how Herbert Simon’s original insight of bounded rationality underlies some of the most basic concepts of economics including constrained optimization, satisficing, and the cross-cultural regularities in human decision making uncovered by behavioral economics.’ -- John Gowdy, Rensselaer Polytechnic Institute, US‘This is a very scholarly and comprehensive look at bounded rationality, a core subject in the behavioural sciences. . . Essential reading. . . It provides an unusually balanced view of the subject.’ -- Konstantinos Katsikopoulos, University of Southampton, UK

Read more less

Book SynopsisThis comprehensive Handbook presents thoughtful analysis on how regulations can impact innovation within a number of fields and markets, and provides a greater understanding of regulatory complexity and the challenging task it presents for future research.The Handbook of Innovation and Regulation embraces some of the key policy areas such as the regulation of markets, critical sectors, and global and regional aspects, focussing particularly on those regulations which target innovation. Reviewing these often interconnected policy areas in terms of both macroeconomic and microeconomic issues, this Handbook expertly studies how regulations in differing fields can affect innovative activities. By placing innovation centre stage, the contributors emphasise the direct and indirect effects of imposed regulations. Further, they illustrate the critically important overall impact of innovation to make firms competitive, promote economic growth and increase societal welfare.Addressing research and policy challenges, this Handbook would be an excellent resource for academics in regulatory economics, innovation and entrepreneurship, international trade, regional economics as well as environment and digitisation and policymakers in both national and international organisations.Trade Review‘This Handbook offers new insights into the important question of how policy officials can best encourage welfare-enhancing innovation. Relying on rigorous theory, research, and evidence, it provides a nuanced but applied and accessible evaluation of how regulations can support or hinder emerging products and practices in a range of sectors and areas.’ -- Susan Dudley, The George Washington University Regulatory Studies Center, US‘This book provides a thoughtful examination of the complicated and sometimes unexpected relationships between regulation and innovation. It is an excellent read for policy makers and scholars who must weigh the forms, design, and trade-offs of regulation for an innovative society.’ -- Sameeksha Desai, Indiana University, USTable of ContentsContents: 1 Handbook of Innovation and Regulation: introductory chapter 1 Pontus Braunerhjelm, Martin Andersson, Knut Blind and Johan E. Eklund PART I MARKETS, REGULATIONS AND INNOVATION 2 Innovation and market structure: policy implications 22 David B. Audretsch 3 The influence of regulation on technological innovation and entry 33 Maria Minniti and Almantas Palubinskas 4 Testing the envelope: the unanticipated effects of regulations on entrepreneurship 57 Robert Eberhart 5 Labor market regulations, innovation and technological change 70 Pontus Braunerhjelm, Johan E. Eklund and Maurice Kugler 6 Innovation in the informal economy 93 Jeremy de Beer, Kun Fu and Sacha Wunsch-Vincent PART II REGULATION OF KEY SECTORS: DIGITIZED PLATFORMS, CLIMATE CHALLENGES AND INNOVATION 7 Innovation and competition on digital platforms 119 Martin Mandorff and Sten Nyberg 8 Environmental economics, regulation and innovation 141 Mads Greaker and David Popp 9 Innovation policy, regulation and the transition to net zero 163 Jan Fagerberg and Håkon E. Normann PART III REGULATION OF KEY INDUSTRIES: URBAN TRANSPORT, BUILDING AND INNOVATION 10 Innovative urban transportation and economic regulation 193 Kenneth Button 11 Innovation and building-related regulations 213 Hans Lind PART IV GLOBAL AND REGIONAL ASPECTS ON REGULATION, KNOWLEDGE FLOWS AND INNOVATION 12 The overall impact of economic, social and institutional regulation on innovation: an update 230 Knut Blind 13 EU regulation: hindering or stimulating innovation? 263 Andrea Renda and Jacques Pelkmans 14 Barriers to trade and innovation 294 Carlo Altomonte and Maria Luisa Mancusi PART V SPECIFIC REGULATIONS TARGETING INNOVATIONS 15 R&D tax credits: a review and an econometric study on efficient policy mixes 318 Birgitte Hovdan, Dirk Czarnitzki and Pierluigi Angelino 16 Regulation of patents and the impact on innovation 346 Nikolaus Thumm 17 Innovation-promoting impacts of public procurement 373 Elvira Uyarra, Oishee Kundu, Raquel Ortega-Argiles and Malcolm Harbour 18 Dedicated regulation: translating missions into regulation 396 Andreas Pyka, Ezgi Ari and Stephanie Lang Index 410

Read more less

Book SynopsisDonald W. Katzner explores concepts, their properties, and the implications of those properties that underlie many of the current approaches to the economics of firm organization. The book examines these matters in important new ways and in ways that have not been fully considered in the existing literature.Topics covered include authority structures, the social interaction (including supervision) among employees required to fulfill the responsibilities of their jobs, participatory decision making to the extent that it occurs, the impact of time, and certain kinds of complexity and efficiency, all of which are fundamental to analyses of the internal organization of the economic firm. The author provides a clear and extensive presentation of the basic ideas, and examines how they relate to the firm’s operation and profitability. He also develops and employs measures of the dimensions of pyramidal authority structures and analyzes the relationship between them.This book should be of interest to graduate students and scholars interested in the economic fundamentals of firm organization. It is relevant for an introductory graduate course in organization theory in economics departments and business schools. It will also appeal to scholars in such fields as sociology and psychology who work in organization theory from the perspective of their own disciplines.Trade Review‘I am not going to buy a copy of Organization in the Economic Firm: I am going to purchase two. One shall sit on my bookshelves, ready to be used when the other – which will be constantly on my desk for consultation – will be worn out. Don Katzner has managed to write yet another masterpiece.’ -- Roberto Veneziani, Queen Mary University of London, UKTable of ContentsContents: Preface 1. Introduction to Organization in the Economic Firm PART I THE STRUCTURE OF AUTHORITY 2. Rank, level, and control 3. Height and thickness 4. Supervision 5. Time, order, and firm organization PART II ORGANIZATIONAL COMPLEXITY 6. Complexity and responsiveness 7. Complexity, output, and profit PART III PARTICIPATION IN DECISION MAKING 8. Collective decision making 9. Participatory decision making 10. The location of decision making 11. The need to restructure PART IV ORGANIZATIONAL EFFICIENCY 12. Administrative efficiency 13. Allocative efficiency 14. The efficiency of organizational forms 15. Conclusion to Organization in the Economic Firm Index

Read more less

Book Synopsis

Read more less

Book SynopsisOffering a cutting-edge analysis of competitive balance and outcome uncertainty, this book explores the topic from multiple perspectives. Chapters address competitive balance and outcome uncertainty in different sports in a range of countries to help understand its significance. Highlighting important new insights into previously unexplored dimensions, the book also provides a rich context for better understanding why fans, teams and leagues value competitive balance. It challenges readers to think about the topic in a broad and rigorous way, and in some cases to question widely held beliefs about how outcome uncertainty motivates competitive balance and how sports fans actually view competitive balance. Key case studies and the use of new data in the chapters makes this an interesting read for sports economics researchers and students looking for current analysis of the topic. Managers of sports organizations will also appreciate the insights that the book gives into what their customers value. Contributors include: A. Barajas, O. Budzinski, D. Coates, J. del Corral, A. Feddersen, B. Frick, T. Gasparetto, C. Gómez-González, T.J. Gopane, B.R. Humphreys, S. Jenkins, S. Kesenne, M. Lowrance, J. Miller, K.T. Mokgatle, J. Price, J. Reade, P. Rodríguez, L.C. Sánchez, P. Sanchez-Fernandez, E.F. Stephenson, H. WinnerTrade Review'The thought-provoking chapters in this volume represent a great contribution to the debate in sports on competitive balance and outcome uncertainty. The authors provide state-of-frontier analysis and practical policy discussion. The volume is essential reading for academics, students and stakeholders in the sports sector.' --Robert Simmons, Lancaster University, UKTable of ContentsContents: Introduction 1.- Oliver Budzinski (Ilmenau University of Technology, Germany) and Arne Feddersen (University of Southern Denmark, Denmark): Measuring Competitive Balance in Formula One Racing. 2.- Carlos Gomez-Gonzalez (University of Castilla-La Mancha, Spain) and Julio del Corral (University of Castilla-La Mancha, Spain): Professional tennis in the 21st century: Hawk eye on competitive balance. 3.- Stephen Jenkins (Berry College, USA), E. Frank Stephenson (Berry College, USA): When Teammates are a Drag: The Effect of “Spingate” on the Benefit of NASCAR Drivers Having Teammates. 4.- Mikala Lowrance (Southern Utah University, USA), Jacob Miller (Southern Utah University, USA) and Joshua Price(Southern Utah University, USA): Game, Set, Match, and Loss Aversion in Tennis. 5.- Bernd Frick (Paderborn University, Germany and Schloss Seeburg University, Austria and Hannes Winner (Paris-Lodron-University Salzburg, Austria): Deferred Compensation when Monitoring is (Nearly) Costless: Evidence from Professional Football. 6.- J. James Reade (University of Reading, Great Britain): A highly disaggregated look at competitive balance. 7.- Thadeu Gasparetto (National Research University Higher School of Economics, Russia) and Angel Barajas (National Research University Higher School of Economics, Russia): The competitiveness of football at the national team-level. 8.- Luis Carlos Sánchez (University of Vigo, Spain), Ángel Barajas (National Research University Higher School of Economics, Russia) and Patricio Sánchez-Fernández (University of Vigo, Spain): The Price of Football Depends on the Owner of the Ball and the Unbalance of the League. 9.- Stefan Kesenne (University of Antwerp and KU Leuven, Belgium): Do Football Spectators like Dynasties? Long-term Uncertainty of Outcome and Stadium Attendances. 10.-Thabo J. Gopane (University of Johannesburg, South Africa) and Khumo T. Mokgatle (University of Johannesburg, South Africa): Empirical Analysis of Match Outcome Uncertainty on Soccer Attendance: Evidence from South Africa. 11.- Dennis Coates (University of Maryland, USA) and Brad R. Humphreys (West Virginia University, USA): Outcome Uncertainty, Home Win Preference, and Econometric Identification of the Game Uncertainty-Attendance Relationship. Index

Read more less

Book SynopsisOffering a comprehensive overview of the major issues that arise in the enforcement of competition laws, this book takes an interdisciplinary approach to the topic, reviewing the development of Korean competition laws and their enforcement with rigorous economic analysis. Chapters build on the Korean experience, providing guidance to the capacity-building efforts of developing countries that have recently introduced competition laws. In this exciting new book, an international team of experts compares market structures, in both global and Korean contexts, particularly focusing on the impact of foreign competition on market concentration and ways to improve market structure. It thoroughly investigates core competition problems, including international abuses of dominance, mergers and collusion, and vertical restraints. Contributions move beyond explaining the laws and practices of enforcement agencies, offering readers an insight into the trend of ever-increasing interdependence among national economies, complemented by analyses of recent developments in the US and Canada. The exploration of clear trends both in Korea and globally will prove valuable to scholars and students of industrial competition policy, and law and economics. It will also be useful to policy-makers, particularly those in developing countries, looking to better understand the issues surrounding competition law and designing future policies. Table of ContentsContents: Preface by Jeong Pyo Choi ix 1 Introduction and overview 1 Jay Pil Choi, Wonhyuk Lim and Sang-Hyop Lee PART I SETTING THE STAGE 2 Competition law and economics: international cooperation and convergence in competition policy 13 Jay Pil Choi PART II MARKET STRUCTURE 3 Market structure and market studies 30 William E. Kovacic 4 An empirical study of the competitive pressure of the foreign sector in Korea 51 Suil Lee PART III ABUSE OF DOMINANCE 5 Structured rule of reason analysis of tying arrangements 82 Yong Hyeon Yang PART IV MERGER AND COLLUSION 6 Comments on merger guidelines 111 Joseph Farrell 7 What next? Cartel strategy after getting caught 125 Robert C. Marshall, Leslie M. Marx and Claudio Mezzetti PART V VERTICAL RESTRAINTS 8 Competition policy and the economics of vertical restraints 146 Ralph A. Winter 9 Resale price maintenance in a multi-producer and multi-distributor setting 174 Se Hoon Bang and Yangsoo Jin 10 Retail price coordination in Korean department stores: the specific purchase contract 190 Woohyun Chang Index

Read more less

Book SynopsisGame theory explores situations in which agents interact strategically and provides a useful foundation for studying many traditional industrial organization topics. This approach has also enabled the emergence of new areas of enquiry including law and economics, networks, the digital economy, auctions, experimental game theory and many others.This second volume of the Handbook includes original contributions by experts in the field. It provides up-to-date surveys of the most relevant applications of game theory to industrial organization. The book covers both classical and industrial organization topics such as mergers in markets with homogeneous and differentiated goods, leniency and coordinated effects in cartels and mergers, static and dynamic contests, consumer search and product safety, strategic delegation, platforms and network effects, auctions, environmental and resource economics, intellectual property, healthcare, corruption, experimental industrial organization, and empirical models of research and development.Authoritative and engaging, this unique Handbook will be an indispensable resource for all serious academics, researchers and students of industrial economics and game theory.Contributors incude: S. Anderson, A. Barge-Gil, P. Belleflamme, J. Brandts, R. Burguet, L. Corchón, A. Daughety, N. Fabra, R. Fauli-Oller, J.-J. Ganuza, M.l. Gonzalez Maestre, A. Hernando-Veciana, M. Hoffmann, E. Huergo, M. Kopel, L. Lambertini, A. Lopez, M. Marini, C. Marvao, E. Maskin, J.G. Montalvo, L. Moreno, M. Motta, P. Olivella, M. Peitz, M. Pezzino, M. Polo, J. Potters, J. Reinganum, R. Renault, G. Rota Preziosi, J. Sandonis, M. Serena, G. SpagnoloTrade Review'The publication of this Handbook, bringing together game theory and industrial organization, is an occasion worth celebrating. . . . I am truly delighted that there is now a Handbook devoted to this transformative partnership.' --From the foreword by Eric Maskin'With these two volumes, Professors Corchon and Marini have provided an invaluable public good to our profession. Corchon and Marini have gathered leading scholars to present a broad and deep overview of the definitive impact that game theory had and still continues to have on the field of industrial organization over the recent years. Any serious researcher willing to take stock of advances in the field should certainly consider to study the material covered in these volumes, from the more fundamental issues in Volume 1 to the more applied topics presented in Volume 2.' --David Martimort, Paris School of Economics, FranceTable of ContentsContents: Foreword by Eric Maskin 1. Introduction Luis C. Corchón and Marco A. Marini PART I COLLUSION AND MERGERS 2. Horizontal mergers in oligopoly Ramon Faulí‐Oller and Joel Sandonis 3. Collusive agreements in vertically differentiated markets Marco A. Marini 4. Cartels and leniency: Taking stock of what we learnt Catarina Marvão and Giancarlo Spagnolo 5. Assessing coordinated effects in merger cases Natalia Fabra and Massimo Motta PART II CONTESTS 6. Contest theory Luis C. Corchón and Marco Serena 7. Endogenous timing in contests Magnus Hoffmann and Grégoire Rota‐Graziosi PART III SPECIAL TOPICS 8. Firm pricing with consumer search Simon P. Anderson and Régis Renault 9. Market structure, liability, and product safety Andrew F. Daughety and Jennifer Reinganum 10. Strategic delegation in oligopoly Michael Kopel and Mario Pezzino 11. Platforms and network effects Paul Belleflamme and Martin Peitz 12. Auctions Ángel Hernando-Veciana 13. Differential oligopoly games in environmental and resource economics Luca Lambertini 14. Intellectual property Miguel González‐Maestre 15. Healthcare and health insurance markets Pau Olivella 16. The microeconomics of corruption Roberto Burguet, Juan-José Ganuza and José G. Montalvo PART IV EXPERIMENTAL AND EMPIRICAL EVIDENCE 17. Experimental industrial organization Jordi Brandts and Jan Potters 18. Empirical models of firms’ R&D Andrés Barge-Gil, Elena Huergo, Alberto López and Lourdes Moreno Index

Read more less

Book SynopsisThis important and timely book examines how corporate governance has and should be developed in China to meet the challenges of enterprise and financial reform. It highlights key economic, social and political issues that China has to confront in order to transform the state owned industrial enterprises into a competitive and modern corporate sector.On Kit Tam critically appraises the main analytical frameworks and models of corporate governance in industrialized countries. He then assesses China's development in terms of current Western debates in relation to the role, function and evolution of corporate governance arrangements. He examines how the Chinese government has adopted a top-down approach combined with a market based Anglo-American model. The author also presents surveys of company directors, managers and supervisors reporting the current environment and analyses the choices available in the light of China's particular problems. He concludes with suggestions for a model of corporate governance in China.This book will be welcomed by economists and those interested in management studies, Chinese reform, international business, Asian studies, industrial organization and business strategy.Trade Review'. . . this is a well reasoned account giving an insightful perspective on changes taking place within corporate China. It eloquently situates China's reforms within the international debate on corporate governance, providing coherent arguments backed by new empirical findings.' -- Norbert Kaldun, Allianz Global Risk Report'The Development of Corporate Governance in China is a timely and well-written book. It elegantly situates China's corporate governance reforms in an international context and provides coherent argument backed by new empirical findings. It is a must read for anyone interested in the economic reform of China's vast state sector.' -- Christopher A. McNally, The China Journal'. . . a useful first step for scholars, students, and practitioners outside China interested in corporate governance inside China.' -- Mike W. Peng, Academy of Management Executive'The Development of Corporate Governance in China examines how the development of corporate governance matters in China's economic development and enterprise reform. It provides a penetrating study of the major corporate governance issues encountered in the country's reform process. Set firmly against the realities of China and relevant international experiences, the book shows the pitfalls of China's approach to corporate development and suggests an alternative model. Its analysis is balanced and full of insights into the working of the emerging corporate sector. It is the first major book on the subject with comprehensive survey data. Anyone interested in the future of China's economic and corporate development would find the book rewarding and worthwhile.' -- Y.Y. Kueh, Lingnan University, Hong Kong'This is an extremely timely and valuable book. The future of corporate governance has been under keen debate in China and crucial decisions are currently being taken. Professor Tam's book succinctly analyses the background and theoretical issues and discusses how the dilemma might be resolved. Essential reading for anyone interested in contemporary Chinese business, economics or organization.' -- Christopher Howe, University of London, UKTable of ContentsContents: Preface 1. Introduction 2. Corporate Governance and the Creation of Modern Corporations in China 3. Models of Corporate Governance: Theoretical Approaches and an International Comparison 4. Corporate Governance Issues Relating to China 5. An Analysis of Corporate Governance Arrangements in Chinese Public Companies 6. Current Practices and Problems in China’s Corporate Governance 7. Future Development of Corporate Governance for Chinese Companies Appendices References Index

Read more less

Book SynopsisThis ground-breaking book addresses the problem of price disparities across countries and, for the first time, uses market structures as the central focus. The author also addresses the effects of trade barriers, input-output relations and economies of scale, factors often ignored by other studies, to determine what causes prices to vary across countries.A post-Keynesian markup pricing model incorporating market power, intermediate inputs and productivity differences is developed and tested using regression analysis. New data on sectoral price levels in Japan and the Republic of Korea and data on GDP and investment price levels for a large number of countries are used. The empirical evidence shows that wages, labor productivity, market power and economies of scale are the most important variables for the explanation of differing price levels across countries. The author finds little evidence for the importance of policy-induced trade barriers and competition policy in explaining this.This book will be useful for scholars of post-Keynesian economics and international economics.Table of ContentsContents: Preface 1. Introduction Part I: Theory 2. Structural Explanations for Price Levels 3. A Post-Keynesian Markup Pricing Model 4. Productivity in an Input–Output Framework 5. The Determinants of the Markup 6. Economies of Scale 7. International Trade Part II: Empirical Evidence 8. From Model to Data to Testing 9. Evidence on Price Levels by Sector in Japan and the Republic of Korea 10. Evidence on Price Levels of GDP 11. Evidence on Price Levels of Investment 12. Conclusions and Implications Appendices References Index

Read more less

Book SynopsisBusiness firms from the emerging markets of Asia, Africa, Eastern Europe and Latin America are becoming increasingly important players in the global economy. Owned and controlled by indigenous nations these emerging transnational corporations are greatly influenced by the social and institutional contexts of their home countries. As a result of the process of globalization, these corporations are engaged in a diverse range of international operations including the establishment of wholly-owned foreign subsidiaries, to joint ventures and strategic alliances.This authoritative collection sheds new light on the global and regional operations of business firms from emerging markets and shows how the pressures of the competitive global economy help shape the management and organisation of these firms.The Globalization of Business Firms from Emerging Economies presents a comprehensive and authoritative selection of the most important articles and papers on this subject published during the last twenty five years. Drawing on a wide range of sources, it will improve access to an important literature which is crucial to the understanding of a significant new area of international business. The collection will be of particular interest to students, researchers, scholars and practitioners involved in international business, industrial economics and economic geography.Trade Review'. . . this is an excellent collection, providing a comprehensive and well-structured cross-section of what is undoubtedly a rapidly expanding and important literature. . . . they would certainly make an excellent addition to the reference or short-term loan shelves of any library, and will be used by research students and scholars from a wide variety of disciplines.' -- Neil M. Coe, Progress in Development Studies'The strength of the book is that it provides diverse perspectives on developing-country TNCs from different disciplines, including business history, development studies, geography, political science, and regional studies. It also covers not only Asian TNCs, but others in Africa, Eastern Europe, and Latin America, so that the reader has a shortcut to knowledge on developing-country TNCs from this collection. The book's major contribution lies in providing fresh insights into the social and economic origins of international business and production.' -- Yong-Sook Lee, Economic GeographyTable of ContentsContents: Volume I: Acknowledgements • Introduction: Competing in the Global Economy: The Globalization of Business Firms from Emerging Economies Part I: The Origins and Characteristics of Transnational Business Firms from Emerging Economies 1. L. Ronald Scheman (1973), ‘The Multinational in a New Mode: Ownership by the Developing Countries’ 2. D. Lecraw (1977), ‘Direct Investment by Firms from Less Developed Countries’ 3. Kyung-il Ghymn (1980), ‘Multinational Enterprises from the Third World’ 4. Peter O’Brien (1980), ‘The New Multinationals: Developing-country Firms in International Markets’ 5. Sanjaya Lall (1983), ‘The Rise of Multinationals from the Third World’ 6. J. Monkiewicz (1986), ‘Multinational Enterprises of Developing Countries: Some Emerging Characteristics’ 7. Francis M. Ulgado, Chwo-Ming J. Yu and Anant R. Negandhi (1994), ‘Multinational Enterprises from Asian Developing Countries: Management and Organizational Characteristics’ 8. Henry Wai-chung Yeung (1994), ‘Transnational Corporations from Asian Developing Countries: Their Characteristics and Competitive Edge’ Part II: Theoretical Perspectives on the Globalization of Business Firms from Emerging Economies 9. John H. Dunning (1981), ‘Explaining the International Direct Investment Position of Countries: Towards a Dynamic or Developmental Approach’ 10. J.P. Agarwal (1985), ‘Intra-LDCs Foreign Direct Investment: A Comparative Analysis of Third World Multinationals’ 11. John H. Dunning (1986), ‘The Investment Development Cycle Revisited’ 12. C. Min Han and Thomas L. Brewer (1987), ‘Foreign Direct Investments by Korean Firms: An Analysis with FDI Theories’ 13. Raj Aggarwal and Tamir Agmon (1990), ‘The International Success of Developing Country Firms: Role of Government-Directed Comparative Advantage’ 14. Michael J. Ferrantino (1992), ‘Transaction Costs and the Expansion of Third-World Multinationals’ 15. Henry Wai-chung Yeung (1994), ‘Third World Multinationals Revisited: A Research Critique and Future Agenda’ 16. M. Krishna Erramilli, Sanjeev Agarwal and Seong-Soo Kim (1997), ‘Are Firm-Specific Advantages Location-Specific Too?’ Part III: The Influence of Social and Institutional Contexts on the Globalization of Business Firms from Emerging Economies 17. Dennis J. Encarnation (1982), ‘The Political Economy of Indian Joint Industrial Ventures Abroad’ 18. Che-hung Chen (1986), ‘Taiwan’s Foreign Direct Investment’ 19. Woong Shik Shin and Eugene J. Oh (1990), ‘Recent Developments in Korea’s Foreign Investment’ 20. Josephine Smart and Alan Smart (1991), ‘Personal Relations and Divergent Economies: A Case Study of Hong Kong Investment in South China’ 21. Chi kin Leung (1993), ‘Personal Contacts, Subcontracting Linkages, and Development in the Hong Kong–Zhujiang Delta Region’ 22. Henry Wai-chung Yeung (1998), The Political Economy of Transnational Corporations: A Study of the Regionalization of Singaporean Firms’ Part IV: The Strategies of Transnational Corporations from Emerging Economies 23. Peter J. Buckley and Hafiz Mirza (1988), ‘The Strategy of Pacific Asian Multinationals’ 24. Brian Levy (1988), ‘Korean and Taiwanese Firms as International Competitors: The Challenges Ahead’ 25. Heidi Vernon-Wortzel and Lawrence H. Wortzel (1988), ‘Globalizing Strategies for Multinationals from Developing Countries’ 26. Tung-lung Chang and Phillip D. Grub (1992), ‘Competitive Strategies of Taiwanese PC Firms in Their Internationalization Process’ 27. Keun Lee and Michael G. Plummer (1992), ‘Competitive Advantages, Two-Way Foreign Investment, and Capital Accumulation in Korea’ 28. Peter Ping Li (1994), ‘Strategy Profiles of Indigenous MNEs from the NIEs: The Case of South Korea and Taiwan’ 29. Tom Wesson (1994), ‘Toward a Fuller Understanding of Foreign Direct Investment: The Example of Hyundai’s Investment in the U.S. Personal-Computer Industry’ 30. Detelin S. Elenkov (1995), ‘Russian Aerospace MNCs in Global Competition: Their Origin, Competitive Strengths and Forms of Multinational Expansion’ 31. Stephen Young, Chun-Hua Huang and Michael McDermott (1996), ‘Internationalization and Competitive Catch-Up Processes: Case Study Evidence on Chinese Multinational Enterprises’ 32. C. Samuel Craig and Susan P. Douglas (1997), ‘Executive Insights: Managing the Transnational Value Chain – Strategies for Firms from Emerging Markets’ Name Index Volume II: Acknowledgements Part I: The Organization of Transnational Corporations from Emerging Economies 1. Sanjaya Lall (1982), ‘The Emergence of Third World Multinationals: Indian Joint Ventures Overseas’ 2. Seamus G. Connolly (1984), ‘Joint Ventures with Third World Multinationals: A New Form of Entry to International Markets’ 3. Stephen B. Tallman and Oded Shenkar (1990), ‘International Cooperative Venture Strategies: Outward Investment and Small Firms from NICs’ 4. Rik Donckels and Johan Lambrecht (1995), ‘Joint Ventures: No Longer a Mysterious World for SMEs from Developed and Developing Countries’ 5. Chol Lee and Paul W. Beamish (1995), ‘The Characteristics and Performance of Korean Joint Ventures in LDCs’ 6. Henry Wai-chung Yeung (1997), ‘Business Networks and Transnational Corporations: A Study of Hong Kong Firms in the ASEAN Region’ Part II: Impact of the Globalization of Business Firms from Emerging Economies 7. Krishna Kumar (1982), ‘Third World Multinationals: A Growing Force in International Relations’ 8. Jeffrey B. Nugent (1982), ‘Multinational Joint Venture Companies of Developing Countries as Instruments of Economic Integration for Development’ 9. C.M. Rogerson (1986), ‘Third World Multinationals and South Africa’s Decentralization Programme’ 10. Donald J. Lecraw (1993), ‘Outward Direct Investment by Indonesian Firms: Motivation and Effects’ 11. Qi Luo and Christopher Howe (1993), ‘Direct Investment and Economic Integration in the Asia Pacific: The Case of Taiwanese Investment in Xiamen’ 12. Chyau Tuan and Linda F.-Y. Ng (1995), ‘The Turning Point of the Hong Kong Manufacturing Sector: Impact of Outward Investment to the Pearl River Delta’ 13. Nicholas A. Phelps, John Lovering and Kevin Morgan (1998), ‘Tying the Firm to the Region or Tying the Region to the Firm? Early Observations on the Case of LG in South Wales’ Part III: Sectoral Studies of Business Firms from Specific Emerging Economies 14. Louis T. Wells, Jr. (1978), ‘Foreign Investment from the Third World: The Experience of Chinese Firms from Hong Kong’ 15. Rachelle L. Cherol and José Nuñez del Arco (1983), ‘Andean Multinational Enterprises: A New Approach to Multinational Investment in the Andean Group’ 16. Krishna Kumar and Kee Young Kim (1984), ‘The Korean Manufacturing Multinationals’ 17. Pang Eng Fong and Rajah V. Komaran (1985), ‘Singapore Multinationals’ 18. Rajiv Lall (1986), ‘Third World Multinationals: The Characteristics of Indian Firms Investing Abroad’ 19. Lim Mah Hui and Teoh Kit Fong (1986), ‘Singapore Corporations Go Transnational’ 20. Yongwook Jun (1987), ‘The Reverse Direct Investment: The Case of the Korean Consumer Electronics Industry’ 21. Premachandra Athukorala and S.K. Jayasuriya (1988), ‘Parentage and Factor Proportions: A Comparative Study of Third-World Multinationals in Sri Lankan Manufacturing’ 22. Christopher Wells (1988), ‘Brazilian Multinationals’ 23. C.M. Rogerson (1990), ‘Sun International: The Making of a South African Tourism Multinational’ 24. Michael McDermott (1991), ‘Taiwan’s Electronic Companies are Targeting Europe’ 25. Tain-Jy Chen (1992), ‘Determinants of Taiwan’s Direct Foreign Investment: The Case of a Newly Industrializing Country’ 26. Ye Gang (1992), ‘Chinese Transnational Corporations’ 27. Yoong-Deok Jeon (1992), ‘The Determinants of Korean Foreign Direct Investment in Manufacturing Industries’ 28. Erdener Kaynak and Tevfik Dalgic (1992), ‘Internationalization of Turkish Construction Companies: A Lesson for Third World Countries?’ 29. Raul de Gouvea Neto (1995), ‘Brazilian Emerging Multinationals: A Conduit for Export of Technology’ 30. Xianming Chen (1996), ‘Taiwan Investments in China and Southeast Asia: “Go West, but Also Go South”’ 31. Christopher M. Dent and Claire Randerson (1996), ‘Korean Foreign Direct Investment in Europe: The Determining Forces’ 32. K.C. Fung (1996), ‘Mainland Chinese Investment in Hong Kong: How Much, Why, and So What?’ 33. Kris Olds (1998), ‘Globalization and Urban Change: Tales from Vancouver via Hong Kong’ Name Index

Read more less

Book SynopsisThis important book provides a comprehensive analysis of the impact of privatization on the economic performance of companies in Central and Eastern Europe. It sheds new light on the achievements and shortcomings of the privatization process and draws out lessons for the future.After considering the theoretical issues surrounding privatization, the authors provide an in-depth examination of corporate governance and company performance in advanced market economies as well as transition economies. They begin with a description of the main principles, techniques and results of privatization in Bulgaria, Estonia, Hungary and Poland. A statistical and econometric analysis of extensive company-level data and interviews from a large number of firms between 1990 and 1997 is then conducted to discover the main factors in changing economic performance. Using this information the authors compare the transformation of the company sectors in the four countries, and in addition assess company restructuring from the perspective of West European privatizations.Privatization and Economic Performance in Central Eastern Europe will be of interest to policymakers in governments and international organizations and those working in the fields of microeconomics, industrial organization and transition studies.Trade Review'. . . it is exactly this close and critical view on a complex topic by insider experts instead of the well known discourse deducted from (Western) assumptions and prejudices which makes the book highly valuable for both practical and scientific readers.' -- Thomas Steger, Journal for East European Management StudiesTable of ContentsContents: Introduction 1. Privatization: The Teaching of Western Experiences 2. Theories of Privatization and the Specific Features of East European Privatizations 3. Company Restructuring in the Bulgarian Transition 4. Company Restructuring in Estonia Between 1992 and 1995 5. Company Restructuring after Privatization in Hungary Between 1988 and 1997 6. Privatization and Company Restructuring in Poland 7. Company Restructuring after Privatization in a Comparative Perspective: Lessons from Four Central and East European Countries Index

Read more less

Book SynopsisIn this wide-ranging collection of significant articles by leading scholars, the editors link the impact of innovation to the process by which firms and industries change over time and ultimately to economic development and growth. The books cover topics such as the impact of the product life cycle on industry evolution, the links between innovative activity and the start-up of new firms, and an analysis of the sources of diversity and the impact of diversity on economic evolution. The three key elements of the post-entry performance of firms are examined - their ability to survive, the learning process and the links between industry evolution and productivity. The books then explore the roles of turbulence and persistence in an evolutionary economy. Additional topics include the evolution of market structures, the evolution of regions and the international competitiveness of industries in an evolutionary context. Finally the books examine the implications for government policy of the links between innovation, industry evolution and economic development.Trade Review'The volumes . . . bring together important contributions to present the building block of the new perspective. These volumes would have great value for the researchers, students and policymakers for reorienting the debates on industrial, technological and economic policies.' -- Pradosh Nath, Journal of Scientific and Industrial ResearchTable of ContentsContents: Volume I: Acknowledgements • Introduction Part I The Product Life Cycle and Industry Evolution 1. Dennis C. Mueller and John E. Tilton (1969), ‘Research and Development Costs as a Barrier to Entry’ 2. Boyan Jovanovic and Glenn M. MacDonald (1994), ‘The Life Cycle of a Competitive Industry’ 3. Steven Klepper (1996), ‘Entry, Exit, Growth, and Innovation over the Product Life Cycle’ 4. Steven Klepper and Kenneth L. Simons (1997), ‘Technological Extinctions of Industrial Firms: An Inquiry into their Nature and Causes’ Part II The Start-up of New Firms 5. P.A. Geroski (1995), ‘What Do We Know about Entry?’ 6. David A. Garvin (1983), ‘Spin-Offs and the New Firm Formation Process’ 7. David B. Audretsch (1995), ‘New Firms’ 8. John C. Hause and Gunnar Du Rietz (1984), ‘Entry, Industry Growth, and the Micro-dynamics of Industry Supply’ Part III Sources and Implications of Diversity 9. Walter Y. Oi (1983), ‘Heterogeneous Firms and the Organization of Production’ 10. Glenn R. Carroll, Lyda S. Bigelow, Marc-David L. Seidel and Lucia B. Tsai (1996), ‘The Fates of De Novo and De Alio Producers in the American Automobile Industry 1885-1981’ 11. Wesley M. Cohen and Steven Klepper (1992), ‘The Anatomy of Industry R&D Intensity Distributions’ Part IV The Size Distribution of Firms 12. Herbert A. Simon and Charles P. Bonini (1958), ‘The Size Distribution of Business Firms’ 13. Edwin Mansfield (1962), ‘Entry, Gibrat’s Law, Innovation, and the Growth of Firms’ 14. Boyan Jovanovic (1982), ‘Selection and the Evolution of Industry’ Part V Growth 15. Bronwyn H. Hall (1987), ‘The Relationship between Firm Size and Firm Growth in the US Manufacturing Sector’ 16. Timothy Dunne, Mark J. Roberts and Larry Samuelson (1989), ‘The Growth and Failure of U.S. Manufacturing Plants’ 17. John Sutton (1997), ‘Gibrat’s Legacy’ Name Index Volume II: Part I Survival 1. David B. Audretsch and Talat Mahmood (1995), ‘New Firm Survival: New Results Using a Hazard Function’ 2. José Mata and Pedro Portugal (1994), ‘Life Duration of New Firms’ 3. Thomas J. Holmes and James A. Schmitz, Jr. (1995), ‘On the Turnover of Business Firms and Business Managers’ 4. Mark Doms, Timothy Dunne and Mark J. Roberts (1995), ‘The Role of Technology Use in the Survival and Growth of Manufacturing Plants’ Part II Learning and Adaptation 5. A. Michael Spence (1981), ‘The Learning Curve and Competition’ 6. Marvin B. Lieberman (1989), ‘The Learning Curve, Technology Barriers to Entry, and Competitive Survival in the Chemical Processing Industries’ 7. John R. Baldwin and Mohammed Rafiquzzaman (1995), ‘Selection versus Evolutionary Adaptation: Learning and Post-Entry Performance’ 8. David B. Audretsch (1991), ‘New-Firm Survival and the Technological Regime’ 9. Ariel Pakes and Richard Ericson (1998), ‘Empirical Implications of Alternative Models of Firm Dynamics’ Part III Productivity 10. Martin Neil Baily, Charles Hulten and David Campbell (1992), ‘Productivity Dynamics in Manufacturing Plants’ 11. Lili Liu and James R. Tybout (1996), ‘Productivity Growth in Chile and Colombia: The Role of Entry, Exit, and Learning’ 12. Paul A. Geroski (1989), ‘Entry, Innovation and Productivity Growth’ 13. Frank R. Lichtenberg and Donald Siegel (1987), ‘Productivity and Changes in Ownership of Manufacturing Plants’ Part IV Turbulence 14. Dennis C. Mueller (1976), ‘Information, Mobility and Profit’ 15. M.E. Beesley and R.T. Hamilton (1984), ‘Small Firms’ Seedbed Role and the Concept of Turbulence’ 16. Val Eugene Lambson (1991), ‘Industry Evolution with Sunk Costs and Uncertain Market Conditions’ 17. Richard Ericson and Ariel Pakes (1995), ‘Markov-Perfect Industry Dynamics: A Framework for Empirical Work’ 18. Hugo A. Hopenhayn (1992), ‘Entry, Exit and Firm Dynamics in Long Run Equilibrium’ Name Index Volume III: Part I Persistence 1. Richard J. Gilbert and David M.G. Newbery (1982), ‘Preemptive Patenting and the Persistence of Monopoly’ 2. Jennifer F. Reinganum (1983), ‘Uncertain Innovation and the Persistence of Monopoly’ 3. Richard J. Gilbert and David M.G. Newbery (1984), ‘Uncertain Innovation and the Persistence of Monopoly: Comment’ 4. Jennifer F. Reinganum (1984), ‘Uncertain Innovation and the Persistence of Monopoly: Reply’ 5. Richard J. Gilbert and David M.G. Newbery (1984), ‘Preemptive Patenting and the Persistence of Monopoly: Reply’ 6. Dennis C. Mueller (1986), ‘The Persistence of Profits above the Norm’ and ‘Profitability and Market Structure’ 7. Clayton M. Christensen and Richard S. Rosenbloom (1995), ‘Explaining the Attacker’s Advantage: Technological Paradigms, Organizational Dynamics, and the Value Network’ Part II Evolution and Horizontal Market Structure 8. Steven Klepper and Elizabeth Graddy (1990), ‘The Evolution of New Industries and the Determinants of Market Structure’ 9. Richard E. Caves (1998), ‘Industrial Organization and the New Findings on the Turnover and Mobility of Firms’ 10. John Sutton (1991), ‘From Theory to Measurement’ and ‘Econometric Evidence’ 11. Alfred D. Chandler, Jr. with the assistance of Takashi Hikino (1990), ‘Scale, Scope, and Organizational Capabilities’ 12. John Sutton (1996), ‘Technology and Market Structure’ Part III Regional Evolution 13. Edward L. Glaeser, Hedi D. Kallal, José A. Scheinkman and Andrei Shleifer (1992), ‘Growth in Cities’ 14. Maryann P. Feldmann and David B. Audretsch (1999), ‘Innovation in Cities: Science-based Diversity, Specialization and Localized Competition’ 15. Glenn Ellison and Edward L. Glaeser (1997), ‘Geographic Concentration in U.S. Manufacturing Industries: A Dartboard Approach’ Part IV International Competitiveness of Industries 16. Robert E. Lucas, Jr. (1993), ‘Making a Miracle’ 17. B.-Y. Aw and A.R. Hwang (1995), ‘Productivity and the Export Market: A Firm-Level Analysis’ Part V Public Policy 18. Wesley M. Cohen and Steven Klepper (1992), ‘The Tradeoff Between Firm Size and Diversity in the Pursuit of Technological Progress’ 19. Joseph E. Stiglitz (1996), ‘Some Lessons from the East Asian Miracle’ 20. Richard R. Nelson (1992), ‘National Innovation Systems: A Retrospective on a Study’ Name Index

Read more less

Book SynopsisThis is the second book celebrating Brian Loasby's contribution to economics by an internationally renowned group of authors including Mark Casson, G.B. Richardson, Nicolai Foss, Keith Pavitt, Martin Fransman and Richard Day. It extends Brian Loasby's work in the area of the theory of the firm and related methodological issues. This book is mainly concerned with the theory of the firm, a subject central to much of Brian Loasby's work. The authors begin by considering the existence and nature of firms and their internal and external relations, paying special attention to the themes of coordination and communication costs in a world of surprise and change. The discussion then moves on to the way in which firms use and create knowledge and capabilities, referring to questions of organization, with some detailed empirical investigation of high technology industries. The final part focuses on methodological issues including rationality, knowledge, incommensurability and equilibrium, in the context of different traditions. This book will be welcomed by microeconomists especially those interested in the theory of the firm and methodology.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. What Can an Economist Learn from Managing a Business? 2. Information Costs, Protocols and the Boundaries of the Firm 3. Incomplete Contracts and Economic Organization 4. Loasby and Decisions 5. Three Stories about the Computer Industry and the Relevance of the Loasbian View of the Firm 6. The Changing Nature of Corporate Technological Diversification and the Importance of Organizational Capability 7. Divisions of Labour in the Innovating Firm 8. The Methodological Implications of Post Marshallian Economics 9. The Bounds of Rationality 10. Bounded Rationality, ‘Fundamental’ Uncertainty and the Firm in the Long Run 11. The Growth of Knowledge and the Subjective Probability Approach 12. Disequilibrium States and Adjustment Processes 13. Equilibrium and Incommensurability 14. Economics, the State and the State of Economics 15. Choice, Complexity and Connections 16. Concluding Reflections Index

Read more less

Book SynopsisTechnology and knowledge are two of the most important factors for maintaining a competitive advantage in today's global economy. This book examines recent trends in the analysis of knowledge and technology from an evolutionary perspective.Technology and Knowledge emphasizes the importance of knowledge in the creation of technological change and innovation. The authors examine the role of knowledge underlying innovation, and the flows of knowledge and other interactions between and within firms. Combining empirical work with simulations to solve models which are too complex to be understood analytically, the book presents a balanced and complementary approach to an area that is critically important for economic growth and international competitiveness.This book will be warmly welcomed by academics working in the fields of technological change, innovation, knowledge and industrial organization.Table of ContentsContents: Introduction 1. Investigating Innovation Strategies in an Artificial Industry 2. Monopoly and Perfect Competition 3. University Knowledge and Innovation Activities 4. The Empirical Performance of a New Inter-industry Technology Spillover Measure 5. Classifying Technological Systems 6. The Effects of Productive and Technology Specialization on Inter-firm Technological Cooperation 7. Organizational Dynamics and the Evolutionary Dilemma Between Diversity and Standardization in Mission-oriented Research Programmes 8. Surviving Technological Discontinuities through Evolutionary Systems of Innovation 9. The Properties of Routines 10. Persistence and Change of Economic Institutions Index

Read more less

Book SynopsisManufacturing has played a key role in the economic fortunes of the East and South Asian regions. This timely book analyses patterns of rapid catch-up and relative stagnation in the manufacturing sector and links these to economic growth in the region.Dr Timmer describes the manufacturing performance of five Asian countries since the 1960s: China, India, Indonesia, South Korea and Taiwan. Over this period Asian industrial development is placed in an international perspective by comparison with the world productivity leader, the USA. The author uses new empirical data to assess the degree of structural change in the manufacturing sector and its importance for productivity growth. He then discusses conditions for economic growth and catch up, and reviews the role of industrial and technology policies in the promotion of industrial development in Asia.Trade Review'. . . for those interested in the role of manufacturing in economic development, this book is well worth reading. It is well written, and the comparative perspective offered by the findings adds to our knowledge of what works and what does not work in promoting the growth of manufacturing in developing countries.' -- Mukesh Eswaran, Asian-Pacific Economic Literature'Marcel Timmer's book is empirical work at its best: not only is the reader carefully guided through the myriad data sources for each of the countries covered, but no less than 78 tables in the annex to the book present time series data and indices constructed for each of the variables at aggregate and disaggregated levels for the manufacturing sector. . . the book is an excellent research tool.' -- Tilaklal K. Doshi, Business History'To say the text is informative would be understating the depth of detail and care in data analysis. To say it is focused and technically endowed would be describing exactly the raison d'&etre of a PhD study. . . Unlike many "economic" type texts with numbers, the text is very readable. . . the text does provide some new insights into economic development in the countries under study, and provides a new slant on the methodological process. . . The book will be of interest to all who seek an insight into the Asian manufacturing "miracle", particularly academic researchers, university lecturers and teachers. . . a good source for literature and methodology for master's and PhD students.' -- Steve Carter, Asia Pacific Business Review'The present book is a great contribution to the empirical research in the area of International Comparisons of Output and Productivity (ICOP). . . . the book provides a deep insight into the process of growth through the dynamic manufacturing processes of an economy. . . . It is one of those marvellous pieces of empirical research and is strongly recommended to students, researchers and policymakers in the region of ICOP.' -- Chandra Prakash Gupta, Journal of Scientific and Industrial Research'This book tackles many common perceptions of the industrialization process in Asia. Timmer provides new insights on how Korea and Taiwan managed to narrow the gap relative to the productivity frontier in the world, whereas China, Indonesia and India failed to enter the catch-up track. The book is a thorough piece of empirical work, with a new data set on comparative productivity levels, and it is well embedded in the general thinking on the role of industrialization in economic growth. It is strongly recommended to any reader who needs more than only a superficial knowledge of the region.' -- Bart van Ark, University of Groningen, The NetherlandsTable of ContentsContents: 1. Introduction 2. The Catch-up Hypothesis in Retrospect 3. Industry-of-Origin Approach to International Comparisons 4. A Benchmark for Relative Productivity Levels 5. Catch-up and Relative Stagnation in Aggregate Manufacturing 6. Catch-up and Relative Stagnation in Manufacturing Branches 7. Structural Change and Productivity Growth 8. The Impact of Industrial and Technology Policies 9. Summary and Conclusions References Index

Read more less

Book SynopsisThis volume brings together the most significant articles which have appeared over the past three decades analyzing the application and effects of price discrimination. Discrimination is a pervasive marketing practice that survives despite the attempts of regulators to limit or eliminate its use; it is widespread also in oligopolistic and imperfectly competitive markets. It is a practice used by firms in pricing their products over product dimensions such as space, time and quality, and it affects the ability of firms to compete in other firms' markets or to protect their own. This collection of articles by leading authors in the field highlights what we know of the motivations for and the welfare implications of price discrimination. It also presents a blueprint for further work in this important area.Table of ContentsContents: Acknowledgements • Introduction Part I: First-Degree Price Discrimination 1. Walter Y. Oi (1971), ‘ A Disneyland Dilemma: Two-Part Tariffs for a Mickey Mouse Monopoly’ 2. Robert D. Willig (1978), Pareto-superior Nonlinear Outlay Schedules’ 3. Richard Schmalensee (1981), ‘Monopolistic Two-Part Pricing Arrangements’ 4. Thomas J. Hoerger (1993), ‘Two-Part Pricing for Experience Goods in the Presence of Adverse Selection’ Part II: Second-Degree Price Discrimination 5. Michael Spence (1977), ‘Nonlinear Prices and Welfare’ 6. Eric Maskin and John Riley (1984), ‘Monopoly with Incomplete Information’ 7. M. Barry Goldman, Hayne E. Leland and David S. Sibley (1984), ‘Optimal Nonuniform Prices’ 8. Esther Gal-Or (1988), ‘Oligopolistic Nonlinear Tariffs’ Part III: Third-Degree Price Discrimination 9. Hal R. Varian (1985), ‘Price Discrimination and Social Welfare’ 10. Marius Schwartz (1990), ‘Third-Degree Price Discrimination and Output: Generalizing a Welfare Result’ 11. Stephen K. Layson (1994), ‘Market Opening under Third-Degree Price Discrimination’ 12. Theon van Dijk (1995), ‘Innovation Incentives through Third-Degree Price Discrimination in a Model of Patent Breadth’ Part IV: Price Discrimination and Product Bundling 13. William James Adams and Janet L. Yellen (1976), ‘Commodity Bundling and the Burden of Monopoly’ 14. Richard Schmalensee (1984), ‘Gaussian Demand and Commodity Bundling’ 15. R. Preston McAfee, John McMillan and Michael D. Whinston (1989), ‘Multiproduct Monopoly, Commodity Bundling and Correlation of Values’ 16. Brooks Pierce and Harold Winter (1996), ‘Pure vs. Mixed Commodity Bundling’ Part V: Applications and Extensions A Spatial Price Discrimination 17. George Norman (1983), ‘Spatial Pricing with Differentiated Products’ 18. Phillip J. Lederer and Arthur P. Hurter, Jr. (1986), ‘Competition of Firms: Discriminatory Pricing and Location’ 19. Barnali Gupta, Amoz Kats and Debashis Pal (1994), ‘Upstream Monopoly, Downstream Competition and Spatial Price Discrimination’ B Intertemporal Price Discrimination 20. Nancy L. Stokey (1979), ‘Intertemporal Price Discrimination’ 21. Louis Phlips (1980), ‘Intertemporal Price Discrimination and Sticky Prices’ 22. Werner Güth, Peter Ockenfels and Klaus Ritzberger (1995), ‘On Durable Goods Monopolies: An Experimental Study of Intrapersonal Price Competition and Price Discrimination Over Time’ C Quality Differentiation 23. Michael Mussa and Sherwin Rosen (1978), ‘Monopoly and Product Quality’ 24. Christos Constantatos and Stylianos Perrakis (1997), ‘Vertical Differentiation: Entry and Market Coverage with Multiproduct Firms’ 25. Jean-Jaskold Gabszewicz, Avner Shaked, John Sutton and Jacques-François Thisse (1986), ‘Segmenting the Market: The Monopolist’s Optimal Product Mix’ 26. John E. Kwoka, Jr. (1992), ‘Market Segmentation by Price-Quality Schedules: Some Evidence from Automobiles’ D Price Discrimination and Competition 27. George Norman (1981), ‘Spatial Competition and Spatial Price Discrimination’ 28. W.B. MacLeod, G. Norman and J.-F. Thisse (1988), ‘Price Discrimination and Equilibrium in Monopolistic Competition’ 29. Thomas J. Holmes (1989), ‘The Effects of Third-Degree Price Discrimination in Oligopoly’ 30. Helmut Bester and Emmanuel Petrakis (1996), ‘Coupons and Oligopolistic Price Discrimination’ Part VI: The Legal Context and Deregulation 31. Norman J. Ireland (1992), ‘On the Welfare Effects of Regulating Price Discrimination’ 32. Mark Armstrong and John Vickers (1993), ‘Price Discrimination, Competition and Regulation’ 33. George Norman and Jacques-François Thisse (1996), ‘Product Variety and Welfare under Tough and Soft Pricing Regimes’ Name Index

Read more less