Microeconomics Books

Book SynopsisCan industrial, trade and competition policies complement one another? In this major volume, a distinguished group of researchers and policymakers systematically investigates the relationships between the microeconomic policies of competition, trade and industry within the European Union. After an introductory chapter contrasting the optimal mix of targets and instruments with the effective use and interaction of policies that can be observed in the real world, the book addresses the experience of the EU, its institutional framework and the evolving use of instruments. The convergence and divergence of economic prescription and application are revealed through an outstanding set of case studies which focus on the automobile, chemical fibre, steel, telecommunication and pharmaceutical industries. Competition, trade and industrial policies play a central role in the efficiency of any market economy and the rich European experience offers valuable lessons for economists, regulators and policy makers from both inside and outside the union.European Policies on Competition, Trade and Industry offers an authoritative discussion of policy making and enforcement in the EU. The strong combination of analysis with detailed case studies and overviews will ensure that this book will make a pioneering contribution to understanding the development of microeconomic policies in the Union.Trade Review'The book as a whole, although resulting from a conference, is a coherent and valuable study, which throws much light on the policies and practices of the institutions of the European Community.'Table of ContentsPart I A law and economics overview: the three common policies - an economic analysis, Jordi Gual; the working of EC policies on competition, industry and trade - a legal analysis, Jacques Bourgeois and Paul Demaret. Part II Case studies: automobile, Peter Holmes and Alasdair Smith; the chemical fibres industry, Elisabeth de Ghellinck and Christian Huveneers; steel industry, Michael Glais; telecommunication services, Dominique Foray et al; pharmaceuticals, Gernot Klepper.

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Book SynopsisThe concept of institutions has become increasingly important in the analysis of both social cohesion and economic change. Institutions and Economic Change reflects the shift of perspective from the allocation of scarce resources to the creation, distribution and use of new resources, especially knowledge. It presents theories of the relationship between institutions and economic change as well as their application in fields such as innovation, the firm, technical change, markets and economic systems. The overall theme of the book focuses on the relationship between institutions and change within the economy, specifically, the roles of learning, knowledge, trust and norms. These issues are addressed from institutional and evolutionary perspectives by an internationally acclaimed group of scholars, including Benjamin Coriat, Giovanni Dosi, Geoffrey Hodgson, Jan Kregel, and Bart Nooteboom. The first section expands these themes, and outlines prospects for future theoretical developments. The second and third parts examine innovation and firms, theoretical and empirical studies of technological change and perspectives on the firm and the relations between firms. In the final part, the authors discuss the economic role of moral norms, a challenge to the idea of optimal allocation of resources in economic equilibrium and evaluate the variety of capitalist economic systems.This innovative book will appeal to economic scholars and students interested in the theory of the firm, economic change, innovation and evolutionary and institutional economics.Trade Review'This volume gives us an excellent overview of key elements in evolutionary and institutional theory. Many contributions are also inspiring examples of applications of key-tools within these theoretical traditions. . . . a nice collection of further convincing arguments pointing in the same direction.' -- Hans Sjogren, Business HistoryTable of ContentsContents: Introduction Part I: Prospects for Evolutionary and Institutional Theory Part II: Innovation and Technological Development Part III: The Theory of the Firm and Relations between Firms Part IV: Markets, Economic Systems and the Role of Moral Norms Index

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Book SynopsisThis book makes an important contribution at the forefront of business cycle theory. The contributors evaluate historical evidence, present new empirical results and suggest that the explanation of business cycle phenomena may, in part, depend on the way in which historical data is interpreted.This innovative book places great emphasis on the complementarity between empirical and theoretical business cycle research. The authors present studies of business cycles concentrating on the Great Depression of the 1930s, early and late nineteenth century American economic history, the United Kingdom before 1914, interwar Germany and Japan, and Canada and the United States during the Gold Standard era. A number of contributions address the Phillips curve and labour markets, and provide illustrations of the use of both macro and micro data. An important finding is the contribution to business cycle research made by hitherto untouched sources of historical labour market microdata. The book demonstrates the importance of the reconstruction of well researched data to our conception and understanding of business cycle phenomena. This book will be useful reading for academics and students of macroeconomics and economic history, with an interest in understanding business cycles.Trade Review'Business Cycles since 1820, commendably compiled and edited by Trevor J.O. Dick, provides a very interesting sample of recent efforts made in the direction of improving our understanding of (largely classical) cycles, through the compilation and analysis of extended and extensive historical data sets for a variety of countries. I recommend the text to any academic researchers and postgraduate students with specific interests in the historical analysis of business cycles and nominal rigidities, as part of their wider reading and research in the area.' -- Philip M. Bodman, Economic RecordTable of ContentsContents: Introduction Part I: Recasting Business Cycles with New Data: A Cross Country Sampling 1. Consistent Output Series for the Antebellum and Postbellum Periods: Issues and Preliminary Results (C. Calomiris and C. Hanes) 2. The Great Depression in Japan: Why so Short and Mild? (T. Iwami, T. Okazaki and H. Yoshikawa) 3. A Reassessment of the United Kingdom Business Cycle Chronology (J. T. Klovland) 4. Measuring National Product in Germany, 1925-1938: The State of the Debate and Some Results (A. Ritschl) Part II: Phillips Curves and Labor Markets: Macro vs Micro Views 5. The Labour Market a Hundred Years Ago: New, Micro-level Evidence on Long-Term Change from the Depression of 1893-94 (S. Carter and R. Sutch) 6. Phillips Curves under the Gold Standard Regime: Canada and the United States Compared (T.J.O. Dick) 7. Consistent Wholesale Price Series for the United States, 1860-1990 (C. Hanes) 8. The Cyclical Adjustment of Hours and Employment in the Prewar United States: Evidence from the Depression of 1893-94 (J.A. James) 9. Central Bank Behavior, the Exchange Rate Regime, and the Persistence of Inflation in Historical Perspective (P.L. Siklos and R.C.K. Burdekin) References

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Book SynopsisThis seminal work advances beyond neoclassical economics to provide an integrated overview of economic decision making, and the management of bounded rationality and its evolutionary consequences.Clem Tisdell successfully combines recent developments in learning and game theory, transaction costs and evolutionary economics to provide new insights into economic and managerial phenomena. The results are applied to different levels of decision-making, including decisions by individuals, taking into account learning possibilities, decisions by groups and economic organizations including optimal communication within organizations. Bounded Rationality and Economic Evolution will be of particular use to economists, academics in management, business administration and public administration, and social scientists interested in group behaviour.Trade Review'The scope is large and the treatment is thoughtful. . . . for anyone who wishes to teach a seminar on economic behaviour this book provides an excellent bridge between the old economics and some of the newer developments.' -- M. Shubik, Journal of EconomicsTable of ContentsContents: Preface Part I: Background Part II: Decisions by Individuals and Learning Part III: Group Decisions, Organizations and Information Part IV: Wider Economic and Social Issues Index

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Book SynopsisThe regulation of road transport externalities - environmental pollution, noise annoyance, accidents and congestion - is one of the most important issues in contemporary transport policies.The Economics of Regulating Road Transport explores welfare economic evaluations - in terms of efficiency as well as equity and social feasibility - of regulatory policies and policy mixes directly aimed at, or indirectly connected to the containment of market failures in road transport.The discussion ranges from static analyses at the level of individual actors and firms to the dynamic behaviour of large spatio-economic systems. Part one explores the economic rationale behind regulating road transport, part two investigates issues of efficiency in the regulation of road transport and part three discusses the issue of equity and social feasibility versus efficiency.This book will be of interest to students of environmental economics and transport economics and to transport and environmental policymakers at the local, regional, national and international level.Trade Review'In sum, this book with its focus on individual behaviour and demand for travel is a refreshing change from supply augmenting policies and technical fixes that are routinely advocated in this field (but which do not work in the long run). It is not often that one comes across research which is theoretically and empirically sound and at the same time has immediate policy relevance. Economists interested in transport issues in third world cities may do worse than mull over Verhoef's findings and conclusions as they wait in traffic jams.'Table of ContentsPart I Introductory chapters: external effects and social costs of road transport - conceptual issues and recent empirical results for the Netherlands. Part II Efficiency of regulation: second-best regulation of road transport externalities; second-best congestion pricing with an untolled alternative; information provision, flat and fine congestion pricing in regulating stochastic congestion; the economics of regulatory parking policies; transport, spatial economy and the global environment. Part III Equity aspects and social feasibility of regulation: efficiency and equity in externalities; the trade-off between efficiency, effectiveness and social feasibility of regulating road transport externalities; the social feasibility of road pricing - a case study for the Randstad area; the social feasibility and effectiveness of regulatory parking policies - a case study at the firm level. Part IV Conclusion: towards an efficient and socially feasible regulation of road transport externalities.

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Book SynopsisThe collection covers the foundations of business cycle theory from the mid-nineteenth century through to the work immediately affected by the publication of Keynes's General Theory.With the revival of interest in real business cycles in the last ten years, these volumes provide a substantial selection of the intellectual achievements in this area developed by previous generations; any of such achievements were temporarily obscured by the success of Keynes's work.

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Book SynopsisTechnology and innovation are fundamental to economic success and the struggle for markets in an increasingly competitive world. This book draws together the latest research in the fields of technology, innovation and competitiveness from some of the world's leading academics.International in its approach, this book considers a wide range of topics including the globalization of research and technology and the effect of this on the product cycle, financial domination in the global economy and its consequences for structural competitiveness. It also examines the impact of the pooling of technology and science in Europe on the environment for new entrepreneurial initiatives. Special emphasis is placed on the policy implications of recent developments in technology, industry and the economy. Technology, Innovation and Competitiveness will be of interest to policy analysts as well as academics and students of economics, management and business studies.Trade Review'As with most edited volumes emerging from conferences and workshops, this one bears obvious traces of heroic editorial efforts to secure a decent level of consistency and coherence across a set of papers which differ in approach and style. In this case, however, these efforts have been reasonably successful and the outcome is largely enjoyable reading.'Table of ContentsContents: Foreword (J.S. Metcalfe) Part I: Globalization in Context Part II: The Globalization of Technological Activity Part III: Innovation and Competitive Advantage Index

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Book SynopsisThis volume contains a collection of the most important articles on independent central banks and economic performance. The collection is comprehensive and divided into four parts: theoretical foundation of central banks independence, central bank independence, empirical evidence on central bank independence and determinants of central bank independence. The editor has prepared a new introduction discussing the main developments in this field. The volume will be a basic reference source for professors, lecturers, researchers, central bankers and other policymakers interested in studying the fundamental articles on central bank autonomy.Table of ContentsContents: Part I: Theoretical Foundations of Central Bank Independence Part II: Measures of Central Bank Independence Part III: Empirical Evidence on Central Bank Independence Part IV: Determinants of Central Bank Independence Index

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Book SynopsisThis important new book deals with some of the most fundamental issues of transaction cost economics. It focuses on the analysis of the internal nature and characteristics of organizations and on the subtle interactions between institutional environment and governance structures over time.Transaction Cost Economics investigates the nature of contractual arrangements involved in large organizations, the 'configurations' of corporations, the modes of governance implemented, and the respective role of different constituencies. The second series of problems addressed in the book concerns the interaction between the institutional environment and governance structures over time, with special emphasis on the Russian privatization programme and the narcotics market. These twin analyses substantiate the distinction between private and public ordering. The book is strongly oriented towards increasing the operationalization of the concepts of transaction cost economics.The book will be essential reading for everyone interested in the new institutional economics and by recent developments in the theory of contracts, in transaction costs economics and in organisation theory. Because of its emphasis on potential applications, it will also be of interest to readers from management science and those involved in the analysis of economies in transition.Trade Review'This collection of essays provides interesting and . . . contentious readings.'Table of ContentsContents: Preface 1. Hierarchies, Markets and Power in the Economy: An Economic Perspective (O.E. Williamson) 2. Internal Characteristics of Formal Organizations (C. Menard) 3. Contractual Relationships Within the Firm (J.-P. Bouttes, P. Hamamdjian) 4. Privatization in Russia: What Should be a Firm? (P.L. Joskow, R. Schmalensee) 5. Illegal Markets and New Institutional Economics (M. Turvani) 6. Transaction Costs Through Time (D.C. North) Index

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Book SynopsisHerbert A. Simon has been a leading contributor to cognitive psychology, computer science, public administration, philosophy and statistics, and is the winner of the 1978 Nobel Memorial Prize in economics. As this collection demonstrates, his impact on economics has been felt in areas as diverse as the theory of the firm and economic organization, consumer behaviour, law and economics, and environmental economics. Central to his work is the notion of bounded rationality - the mismatch between human decision-making capacities and the scale of the decision problems that people face, which results in satisficing rather than optimizing behaviour - and his belief that economic research should start from the study of actual behaviour rather than being based on convenient but unrealistic assumptions. Peter Earl's choice of articles shows both the kind of economics that emerges when Simon's philosophy is followed comprehensively, and what happens when neo-classical economists partially adopt his ideas.Table of ContentsVolume 1: Part 1 The Nobel laureate: the Nobel Memorial Prize in Economics 1978 - the official announcement of the Royal Academy of Sciences, The Royal Swedish Academy of Sciences; on the contributions to Herbert A. Simon to economics, William J. Baumol; on the contributions of Herbert A. Simon to economics, Albert Ando; rational decision making in business organizations, Herbert A. Simon. Part 2 Bounded rationality (1) - overview: theories of bounded rationality, Herbert A. Simon; satisficing, Roy Radner; aspiration adaptation theory, Reinhard Selten; why bounded rationality - the much too long version, John Conlisk. Part 3 Bounded rationality (2) - in neoclassical economics: Alchian and the "Alchian thesis", Neil. M. Kay; information processing and bounded rationality - a survey, Barton L. Lipman; rationality and bounded rationality, Robert J. Aumann; Sargent versus Simon -bounded rationality unbound, Esther-Mirjam Sent. Part 4 Bounded rationality (3) - behavioural approaches: task complexity and contingent processing in brand choice, Denis A. Lussier and Richard W. Olshavsky; reasoning the fast and frugal way - models of bounded rationality, Gerd Gigerenzer and Daniel G. Goldstein; the cost of thinking, Steven M. Shugan; emotional arousal as a source of bounded rationality, Bruce E. Kaufman; modes of economizing behaviour - experimental evidence, Mark Pingle and Richard H. Day; entrepreneurial information search, Arnold C. Cooper et al; a lack of insight - do venture capitalists really understand their own decision process?, Andrew L. Zacharakis and G. Dale Meyer; a failure-inducement model of research and development expenditure, Cristiano Antonelli; a chaotic model of innovative search - some answers, many questions, Kenneth W. Koput; how learning by doing is done - problem identification in novel process equipment, Eric von Hippel and Marcie J. Tyre; seeing isn't believing - understanding diversity in the timing of strategic response, Pamela S. Barr and Anne S. Huff. Part 5 Bounded rationality (4) - sympathetic critics: Herbert Simon's human rationality, Brian J. Loasby; the unsatisfactoriness of satisficing - from bounded rationality to innovative rationality, Marina Bianchi; the ubiquity of habits and rules, Geoffrey M. Hodgson. Part 6 Decomposability and hierarchy: the architecture of complexity, Herbert A. Simon; hierarchy - the economics of managing, Roy Radner; modularity, flexibility and knowledge management in product and organization design, Ron Sanchez and Joseph T. Mahoney. Volume 2: Part 1 Competition and market processes: toward a general theory of competitive rationality, Peter Reid Dickson; forces generating and limiting concentration under Schumpterian competition, Richard R. Nelson and Sidney G. Winter; the output decision of the firm - a behavioural algorithm, Timothy M. Wakeley; spatial competition and bounded rationality -retailing at the edge of chaos, Robert E. Krider and Charles B. Weinberg; markets as evolving compu

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Book SynopsisOn the Foundations of Monopolistic Competition and Economic Geography presents important work by B. Curtis Eaton and Richard G. Lipsey on product differentiation, including studies of spatial differentiation and the industrial structures that give rise to this phenomenon.The book opens with an introductory overview essay and explains why the authors reject the neoclassical, competitive vision of the economy. The essays included cover issues such as: the theory of multinational plant location, product differentiation, monopoly, models of value theory, capital with special reference to entry and exit barriers and entry equilibrium, the existence of pure profit and the theory of market pre-emption.This volume will be welcomed by academics and researchers interested in the microeconomic issues of competition, monopoly, firm behaviour and markets.Trade Review'Therefore, these four books published by Edward Elgar will be at the reference desks of all good economic libraries. In addition, the book on monopolistic competition and economic geography needs to enter all reading lists on the currently hottest topic in economics.'Table of ContentsContents: Introduction ‘Beyond Neoclassical Competitive Economics’ 1. ‘The Principle of Minimum Differentiation Reconsidered: Some New Developments in the Theory of Spatial Competition’ 2. ‘The Non-Uniqueness of Equilibrium in the Löschian Location Model’ 3. ‘The Introduction of Space into the Neoclassical Model of Value Theory’ 4. ‘Spatial Monopoly, Natural Monopoly, Pure Profits, and Land Rents’ 5. ‘A Comment on Location and Industrial Efficiency with Free Entry’ 6. ‘Freedom of Entry and the Existence of Pure Profit’ 7. ‘The Theory of Market Pre-emption: The Persistence of Excess Capacity and Monopoly in Growing Spatial Markets’ 8. ‘Comparison Shopping and the Clustering of Homogeneous Firms’ 9. ‘The Block Metric and the Law of Markets’ 10. ‘Exit Barriers are Entry Barriers: The Durability of Capital as a Barrier to Entry’ 11. ‘Capital, Commitment, and Entry Equilibrium’ 12. ‘An Economic Theory of Central Places’ 13. ‘Address Models of Value Theory’ 14. ‘Product Differentiation’ 15. ‘The Theory of Multinational Plant Location: Agglomerations and Disagglomerations’ 16. ‘Increasing Returns, Indivisibility and All That’ Name Index

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Book SynopsisRestructuring Eastern Europe brings together a distinguished group of scholars and experts who discuss the transition process in Eastern Europe at the microeconomic level. The restructuring and privatization of enterprises has not kept pace with the macroeconomic success that has been achieved in some formerly centrally planned countries. The contributors discuss the ideological, institutional, socio-political and financial problems resulting from the transition process. New insights into complex microeconomic issues such as the dispersion of foreign direct investment, privatization and company management, entrepreneurship and supply-chain development are also discussed. Special attention is paid to the roles of corporate governance, technological integration, the role of environmental and regional policies and the reform of the banking system. This innovative book presents a comprehensive overview of the varying levels of success of the policies of different countries. It will prove invaluable to research scholars, postgraduate students and officials in government agencies concerned with restructuring the economies of Eastern Europe.Trade Review'. . . very readable . . . It gives a deep account of recent economic facts taking place in the Balkan area and the complexity surrounding the microeconomic choices of domestic and foreign entrepreneurs. . . . experts in this field or research will find in this book interesting points of analysis and conclusions worthy of investigation for future empirical research. . . . the book will prove invaluable to stimulate a debate and empirical research about many themes concerning the microeconomics of transition countries.' -- Bruno S. Sergi, Journal of Transnational Management Development'. . . there are some interesting parts of the book, notably the chapter by Bartlett on employee-owned firms.'– Mike Wright, The Economic JournalTable of ContentsContents: Introduction (B. Donnorummo) 1. Major Issues in Restructuring and Transition in Eastern Europe (S. Sharma) 2. Industrial Restructuring and Supply Chain Development in Eastern Europe (M. Bateman) 3. Corporate Governance and Decision Making: A Case Study (P. Sikavica) 4. Entrepreneurship in the Turbulent Environment of Eastern Europe (M. A. Marinov) 5. Efficiency Under Restructuring from a Microeconomic Perspective (V. Benacek, D. Shemetilo and A. Petrov) 6. Public Investment Expenditure and Regional Development in Transitional Economies (A. Bogunovic) 7. Policies for Control of Air Pollution in Central and Eastern Europe (J. Steedman) 8. Regional Dispersion of Foreign Direct Investment in Eastern Europe (I. Druzic) 9. Technological Integration and Global Marginalization of Central and East European Economies: The Role of FDI and Alliances (S. Radosevic and D. Dyker) 10. Financial Fragility in the Banking System of Transitional Economies in Eastern Europe (J. Toporowski) 11. The Transformation and Demise of Self-managed Firms in Croatia, Macedonia FRY and Slovenia (W. Bartlett) 12. Restructuring of the Banks in Albania (S. Cani) 13. Company Restructuring and Business Analysis (J. Tintor) 14. Banking Sector Reforms in Croatia: Problems and Prospects (M. Skreb) Index

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Book SynopsisTransport networks are becoming increasingly important now that free trade, open access, increased competition and greater market orientation are fundamental to the current restructuring of Europe. Infrastructure networks are the corner stones of European integration and this book provides a comprehensive overview of the current concepts and policies which are being examined by researchers, government officials and policy makers.Transport Networks in Europe explores current debates and presents new proposals for well-functioning infrastructure networks. Key issues discussed include: regional development congestion urban transport policy private-public cooperation environmental sustainability transport borders and barriers The authors place emphasis on sustainable transport and provide a wide spectrum of policy recommendations for sustainable transport networks at the European, national and urban levels.The growing significance of transport networks in the European Union will ensure that this timely book is an essential companion for those actively engaged in transport policy formulation and implementation. It will also be welcomed by transport analysts, geographers and regional scientists.Trade Review'The welcome feature of the book is the emphasis given to networks, as distinct from individual routes and modes. In this respect, the volume both reflects and reinforces an important change in the approach to transport analysis, the growing awareness that policy must consider the relevant as a whole if sensible policies are to be devised.'Table of ContentsContents: Part I: Networks: New Concepts, Analysis and Modelling Part II: Network Policies: Efficiency and Sustainability Index

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Book SynopsisApplied Microeconomic Theory presents a seminal collection of the author's influential papers in a number of areas of applied microeconomic theory. This invaluable volume contains a selection of both published and unpublished papers written over a period of thirty years and reveals Curtis Eaton's profound economic insight and ability.Topics covered include: Strategic market structure. Beginning with Eaton's pioneering 1975 paper on pre-emption by product proliferation in a differentiated oligopoly and ending with his paper - in collaboration with Nicholas Schmitt - on the implications for market structure of flexible manufacturing published in 1995. Efficiency wages, including two of the very earliest papers on the subject written in collaboration with William White. Theory of price in both labour and output markets. Collusive behavior, including a number of important papers written in collaboration with Mukesh Eswaran. Trade Review'This is an excellent collection of papers written by a leader of thought in industrial organisation for the last twenty years.' -- Kevin Lawler, Economic IssuesTable of ContentsContents: Preface Intellectual Biography Part I: Strategic Behavior Part II: Efficiency Wages Part III: Applied Price Theory Index

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Book SynopsisThe current economic transition in Central and Eastern Europe is leading to the emergence of significant fragmentation within regions and between countries. The competitive struggle for scarce resources and global markets during the transition to capitalism in Eastern and Central Europe has caused countries to move away from a process of regional convergence which existed under state socialism to regional divergence. This book focuses on regional economic change in Eastern and Central Europe using Slovakia as a case study. It explains the relationship between industrial change and regional development, and discusses fragmentation within the context of the legacy of the state socialist industrialization model. The book interweaves up-to-date empirical analysis with theoretical debates and uses regional case studies to highlight key issues.Reconstructing the Regional Economy examines both the limits and scope of regional capitalist development, documenting the nature and causes of uneven development in Slovakia. It addresses industrial and restructuring strategies, arguing that current progress must be understood within the context of the past, and that the present complex mix of old and new economic and institutional structures contribute significantly to economic fragmentation and divergence. The author criticises shock therapy, and argues that the transition to a market economy cannot simply be achieved through filling the supposed vacuum left by the collapse of central planning. This original and important book will be welcomed by academics and students interested in the economics of transition and by policymakers in Western and Eastern European countries.Trade Review'Reconstructing the Regional Economy is a book that seriously and vigorously explores the origins and processes of uneven regional economic development in the post-socialist sphere. The combination of theoretical understanding and extensive empirical knowledge provides a "wholeness" of presentation that is convincing and impressive. It is a significant work that will both contribute to, and further, our understanding of post-socialist transformation.'Table of ContentsContents: 1. Introduction: The Regional Question and Approaches to Transition in Eastern and Central Europe Part I: Regional Development, Industrial Restructuring and Eastern and Central Europe Part II: State Socialism and Regional Development Part III: The ‘Transition to Capitalism’ and Regional Development Part IV: Conclusions and Alternatives Index

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Book SynopsisThis important volume sheds new light on the ideas and policies of John Maynard Keynes. It presents nineteen contributions from an outstanding group of international economists who aim to understand Keynes as an economist whose work is still influential in both academic research and in more popular economic thought. Although it is over fifty years since John Maynard Keynes passed away, and over sixty years ago that The General Theory was published, his ideas and policies continue to exert an enormous influence on academic economics, as well as being used to solve economic problems faced in the world today, and no doubt, the years to come. The decline of interest in Keynes and his policies during the 1970s has been replaced in the late eighties and nineties by a revival in academic interest, as well as the use of his policy suggestions to solve current economic problems. Divided into five sections, this book considers not only Keynes's theoretical contributions, but also his policies for money management, unemployment, wages and prices, and global governance and the state. As distinct from most other available volumes, this book examines Keynes's thoughts and policies in the context of the current economic climate as well as from the perspective of future economic problems, and how to remedy them. This important book will be of interest to graduate students, research scholars and academics interested in macroeconomics, the history of economic thought, Keynesian and post Keynesian thought.Trade Review'. . . this volume provides the reader with interesting and thoughtful interpretations.'Table of ContentsContents: 1. Introduction: J.M. Keynes Before and After the General Theory (S. Sharma) Part I: Theoretical Contributions Part II: Global Governance and the State Part III: Unemployment, Wages and Prices Part IV: Money Management Part V: Miscellaneous Index

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Book SynopsisRapid technological developments in communications and transportation, economic liberalization and the emergence of new economies with vast market potential have changed the shape of international production. This scholarly selection of articles represents some of the most important contributions to an understanding of this ongoing, global economic restructuring and its impact on the geographic configuration of production and the economic competitiveness of nations in the world economy.Trade Review'The 29 contributions in volume 3 provide an excellent overview of the theoretical and empirical economics literature on global economic restructuring and changes in industrial location and competitiveness.' -- Journal of Peace ResearchTable of ContentsContents: Introduction Part I: Origins of Structural Change: Marshallian Agglomeration and Schumpeterian Innovation Part II: The Role of the Multinational in Global Agglomeration Part III: Synergies Between MNEs and Local Firms Part IV: Government Policies, Industry Location and National Competitiveness Part V: The Unfolding Pattern

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Book SynopsisThis challenging book extends standard economic theory to take into account the presence of heterogeneity among economic agents. It argues for an approach to economic analysis which regards the economy as an interactive system with heterogeneous agents and not simply a system which treats aggregates as some 'representative' individual.The authors consider that no sector of the economy can be treated as behaving like a single individual and each sector should be modelled as a complex interactive system. They apply this approach to many macro- and micro- analyses including monetary policy and firms, technological innovation and the insider-outsider model. In conclusion the authors find that this approach proves much more fruitful in explaining empirical phenomena than much of the existing theory. The result of this approach to economic theory which encompasses many realistic features, provides a vision of the economy which is not at odds with common sense, but which does not abandon rigorous analysis.This important book will be welcomed by those interested in both macro and micro economic theory.Trade Review'Interested economists without a background in this material . . . will find a clearly presented introduction to modelling macroeconomics based on social interaction and heterogeneous agents. . .' -- Jenny Miner, Journal of Economic LiteratureTable of ContentsContents: Introduction 1. Interaction and Market 2. Tutorial on Social Interaction Economics 3. Multilevel Interactions with a Keynesian Flavour in a Stochastic Macroeconomic Model 4. Economic Theory and ‘Conformism’ 5. Firms’ Size and Monetary Policy 6. Agents’ Heterogeneity and Coordination Failure 7. Compartmental Analysis of Economic Systems with Heterogeneous Agents 8. Macroeconomic Fluctuations and Heterogeneous Agents 9. Fluctuations and Growth Due to Technological Innovation and Diffusion 10. Hysteresis and Economics 11. An Insider-Outsider Model with Non-Trivially Heterogeneous Labour Force 12. Agents’ Heterogeneity, Financial Fragility, and Learning Index

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Book SynopsisThis important two volume collection of previously published journal articles and book excerpts provides an extensive array of readings in the economics and politics of international trade and investment policy.Volume One focuses on the globalization of business and links policy issues to economic and political theory and to the strategies of corporations. Volume Two concentrates on multilateral institutions and agreements, regional arrangements and linkages among trade, investment, labour and environmental policy issues.The articles included in this collection have been drawn from diverse sources and represent analyses by scholars of many persuasions and nationalities.Table of ContentsContents: Acknowledgements Introduction Thomas L. Brewer Volume I: Part I: Policy in the Context of Globalization 1. World Bank (1997), ‘Foreign Direct Investment and Global Integration’ 2. H. Peter Gray (1995), ‘The Modern Structure of International Economic Policies’ 3. Charles-Albert Michalet (1994), ‘Transnational Corporations and the Changing International Economic System’ 4. John H. Dunning (1992), ‘The Global Economy, Domestic Governance, Strategies and Transnational Corporations: Interactions and Policy Implications’ 5. Alan M. Rugman and Michael V. Gestrin (1991), ‘US Trade Laws as Barriers to Globalisation’ 6. Jagdish N. Bhagwati (1985), ‘Protectionism: Old Wine in New Bottles’ 7. Edward M. Graham and Robert Z. Lawrence (1996), ‘Measuring the International Contestability of Markets: A Conceptual Approach’ 8. James D. Gaisford (1996), ‘On the Relative Gains from Liberalized Foreign Investment’ Part II: Theory and Policy 9. Robert E. Baldwin (1992), ‘Are Economists’ Traditional Trade Policy Views Still Valid?’ 10. Paul R. Krugman (1993), ‘The Narrow and Broad Arguments for Free Trade’ 11. Paul Krugman (1992), ‘Does the New Trade Theory Require a New Trade Policy?’ 12. Rachel McCulloch (1983), ‘The Optimality of Free Trade: Science or Religion?’ 13. Asad Alam (1995), ‘The New Trade Theory and its Relevance to the Trade Policies of Developing Countries’ 14. Kyle Bagwell and Robert W. Staiger (1990), ‘A Theory of Managed Trade’ Part III: Firms’ Strategies and Governments’ Policies 15. Raymond Vernon (1981), ‘Sovereignty at Bay: Ten Years After’ 16. Farok J. Contractor (1990), ‘Ownership Patterns of U.S. Joint Ventures Abroad and the Liberalization of Foreign Government Regulations in the 1980s: Evidence From the Benchmark Surveys’ 17. Dennis J. Encarnation and Louis T. Wells, Jr. (1985), ‘Sovereignty en Garde: Negotiating with Foreign Investors’ 18. Helen Milner (1988), ‘Trading Places: Industries for Free Trade’ 19. David W. Loree and Stephen E. Guisinger (1995), ‘Policy and Non-policy Determinants of U.S. Equity Foreign Direct Investment’ Part IV: Domestic Politics and Policy 20. Sylvia Ostry (1992), ‘The Domestic Domain: The New International Policy Arena’ 21. John S. Odell (1990), ‘Understanding International Trade Policies: An Emerging Synthesis’ 22. John B. Goodman, Debora Spar and David B. Yoffie (1996), ‘Foreign Direct Investment and the Demand for Protection in the United States’ 23. Thomas L. Brewer (1992), ‘An Issue-Area Approach to the Analysis of MNE-Government Relations’ 24. Gene M. Grossman and Elhanan Helpman (1995), ‘The Politics of Free-Trade Agreements’ 25. Arye L. Hillman and Heinrich W. Ursprung (1988), ‘Domestic Politics, Foreign Interests, and International Trade Policy’ Index Volume II: Part I: Multilateral Institutions and Agreements 1. Charles Lipson (1982), ‘The Transformation of Trade: The Sources and Effects of Regime Change’ 2. Susan Strange (1987), ‘The Persistent Myth of Lost Hegemony’ 3. Paul M. Goldberg and Charles P. Kindleberger (1970), ‘Toward a GATT for Investment: A Proposal for Supervision of the International Corporation’ 4. C. Fred Bergsten and Edward. M. Graham (1992), ‘Needed: New International Rules for Foreign Direct Investment’ 5. Pierre Sauvé (1994), ‘A First Look at Investment in the Final Act of the Uruguay Round’ 6. Pierre Sauvé (1995), ‘Assessing the General Agreement on Trade in Services: Half-Full or Half-Empty?’ 7. Americo Beviglia Zampetti (1995), ‘The Uruguay Round Agreement on Subsidies: A Forward-Looking Assessment’ 8. Thomas L. Brewer and Stephen Young (1996), ‘Investment Policies in Multilateral and Regional Agreements: A Comparative Analysis’ 9. Development Committee of the International Monetary Fund and the World Bank (1992), ‘Guidelines on the Treatment of Foreign Direct Investment’ Part II: Regional Institutions and Agreements 10. Stephen J. Kobrin (1995), ‘Regional Integration in a Globally Networked Economy’ 11. Michael Gestrin and Alan M. Rugman (1994), ‘The North American Free Trade Agreement and Foreign Direct Investment’ 12. Edward M. Graham and Christopher Wilkie (1998), ‘Regional Economic Agreements and Multinational Firms: The Investment Provisions of the NAFTA’ 13. James R. Markusen, Thomas F. Rutherford and Linda Hunter (1995), ‘Trade Liberalization in a Multinational-Dominated Industry’ 14. Edward M. Graham (1994), ‘Towards an Asia-Pacific Investment Code’ 15. Thomas Brewer and Stephen Young (1995), ‘European Union Policies and the Problems of Multinational Enterprises’ 16. Tamar Almor and Seev Hirsch (1995), ‘Outsiders’ Response to Europe 1992: Theoretical Considerations and Empirical Evidence’ Part III: Inter-Policy Linkages 17. World Trade Organization (1996), ‘Trade and Foreign Direct Investment’ 18. T.N. Srinivasan (1996), ‘Post-Uruguay Round Issues for Asian Developing Countries’ 19. Karl P. Sauvant, Padma Mallampally and Persephone Economou (1993), ‘Foreign Direct Investment and International Migration’ 20. Thomas L. Brewer and Stephen Young (1997), ‘Investment Incentives and the International Agenda’ 21. Hiro Lee and David Roland-Holst (1997), ‘The Environment and Welfare Implications of Trade and Tax Policy’ 22. Niek De Jong and Rob Vos (1995), ‘Regional Blocs or Global Markets? A World Accounting Approach to Analyze Trade and Financial Linkages’ Index

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

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

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

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

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

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

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

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

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

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

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

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

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Book SynopsisIn this book, Nancy and Richard Ruggles demonstrate their unique grasp of the measurement and analysis of macro and micro data and elucidate ways of integrating the two data sets.Their analysis of macrodata is used to examine the economic growth of the United States from the 1920s to the present day. They focus particularly on recession and recovery between 1929 and 1974 and the measurement of short-run economic growth. They also examine the measurement of saving, investment and capital formation in the United States. On a microeconomic level, they analyse economic intelligence in World War II, offer a study of fertility in the United States in the pre-war era and analyse longitudinal establishment data. Finally they integrating the two approaches to provide a method of providing a more complete picture of social and economic performance.Trade Review'Richard Ruggles, often assisted by Nancy Ruggles, has been a major contributor to national income accounting and to the empirical study of microeconomics and macroeconomics using that and other data. He has focused on the quantitative analysis of actual economic systems in a discipline increasingly preoccupied with abstract pure conceptual models. Like the work of Simon Kuznets and others, Ruggles's analyses encompass an unusually wide range of variables.' -- Warren J. Samuels, Michigan State University, US'The essays collected in this volume represent pioneering work by Nancy and Richard Ruggles on both the integration of micro and macro accounting data and the development of microdata . . . [They] have wide-ranging implications for modern theories of savings and investment.' -- From the foreword by Edward N. WolffTable of ContentsContents: Preface Part I: Macroanalysis 1. Recession and Recovery in the United States, 1929–74, and Sectoral Saving and Investment Accounts 2. Economic Growth in the Short Run 3. Theoretical Concepts and Empirical Measurement of Saving and Investment 4. Household and Enterprise Saving and Capital Formation in the United States, 1947–91 5. Accounting for Saving and Capital Formation in the United States, 1947–91 Part II: Microanalysis 6. An Empirical Approach to Economic Intelligence in World War II 7. A Study of Differential Fertility Based on Census Data 8. A Strategy for Merging and Matching Microdata Sets 9. Merging Microdata 10. The Analysis of Longitudinal Establishment Data Part III: The Integration of Macro- and Microdata 11. Methodological Developments 12. Macroaccounts and Microdata Sets 13. The Relation of Methodology to the Technology of Economic Research 14. The Role of Microdata in the National Economic Accounts 15. Social Indicators and a Framework for Social and Economic Accounts 16. The Measurement of Economic and Social Performance 17. The Development of Integrated Data Bases for Social, Economic and Demographic Statistics 18. The Integration of Macro- and Microdata for the Household Sector Bibliography Index

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

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

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Book SynopsisDo we need yet another textbook on business fundamentals when every publishing house has stacks of such books ready for sale? No, we do not need another standard textbook. What we need is a new kind of teaching tool that at once accommodates the modern-day classroom and exposes new century students to the contemporary world of global capitalism in which today’s businesses operate.In primer form, Dr. Patrice Flynn clarifies the functional areas of business, a term used to describe what every businessperson needs to understand to be successful, from entrepreneurship to small business development, legal structure, going global, finance, big data, marketing, management, and more.This primer demonstrates how a master teacher teaches new century students, thus giving supremacy to pedagogy along with rigorous content. The primer can be used with both business students and the growing number of nonbusiness students interested in learning how business works before entering the world of work. Every student will come away not only with a sense of the business areas that pique their interest but also with a deeper understanding of business from which to craft next career steps.

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

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

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

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

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

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Book SynopsisThis book takes a comparative approach to economic history to offer ways to increase our understanding of the divergence between South America and Scandinavia. In particular, the book aims to deepen our understanding of why the two groups of countries have set out on radically different pathways with regard to industrialisation, long-term economic growth and income distribution. The book draws together the results of two separate projects focusing on this comparison. The first of these projects focuses on two of the so-called settler societies of South America, namely Uruguay and Argentina, sometimes called the Pampas region. Australia and New Zealand, two other settler societies, are also considered, adding a further contrasting effect. These settler societies are compared with Scandinavia, in its broad terms, including Sweden, Denmark, Norway and Finland. The second of these projects focuses on comparisons between Brazil and Sweden. Together, the two projects have engaged the minds of economic historians from Brazil, Uruguay and Sweden. This book will be of interest to researchers and students in economic history and economic development more broadly.Table of Contents1. Introduction; Jorge Alvarez and Svante Prado.- Part 1. Latin America and Scandinavia.- 2. Latin American and Nordic countries: a renewed tradition of comparative studies; Jorge Álvarez, Luis Bértola and Jan Bohlin.- Part 2: Trade, industrialisation and growth.- 3. Foreign trade and economic growth in Scandinavia, Australasia and the Rio de la Plata region, 1870–1970; Jorge Álvarez, Luis Bértola and Jan Bohlin.- 4. Structural change, industrial growth and economic development in the Nordic and Southern Settler Societies, 1870–1970; Jorge Álvarez, Luis Bértola and Jan Bohlin.- 5. Long-term comparative levels of labour productivity in manufacturing, c. 1890–2010; Cecilia Lara and Svante Prado.- Part 3: Dimensions of inequality.- 6. Wage differentials, 1920–2010; Svante Prado, Thales Pereira and Jakob Molinder.- 7. Land-ownership systems and agrarian income distribution in Denmark, New Zealand and Uruguay during the First Globalisation Era; Jorge Álvarez and María de las Mercedes Menéndez.- 8. Democratisation and the rise of the welfare state; Erik Bengtsson and Marc Morgan.- 9. The role of education in modernisation drives in Brazil and in Sweden; Thomas Kang and Anders Nilsson.

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

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Book SynopsisThis book demonstrates how to transform pricing, often considered the neglected aspect of marketing, into the most influential marketing tool that positively impacts the company's profits in a sustainable manner. Ultimately, every aspect of marketing is reflected in the price, as it represents the customer's value exchange for the other three value-creating marketing instruments: the product (functional value), communication (emotional value), and distribution (availability). The authors present the essential framework conditions and fundamental principles of active price management. They specifically emphasize those aspects that have proven particularly relevant to business practice through the Executive Education program at the University of St. Gallen (HSG).Table of ContentsActive Price Management: Fundamentals and Challenges.- Conditions of Price Management.- Goals of Price Management.- Price Management Strategies.- Price Management for Innovations.- Auctions.- Price Management for Business-to-Business Services.- Conclusion.

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Book SynopsisDas Lehrbuch analysiert die Preisbildung auf Märkten mit unvollständiger Konkurrenz: die Marktformen des Monopols, des Monopsons, des bilateralen Monopols, der monopolistischen Konkurrenz und des Oligopols. Ferner behandelt die Autorin den nicht-kooperativen Wettbewerb sowie wettbewerbsbehindernde Strategien durch Kooperationen, Verhinderung von Markteintritten und Verdrängung. Das Lehrbuch verbindet die Bereiche Preistheorie und Industrieökonomik und kann begleitend zu Vorlesungen eingesetzt werden. Es ist ebenso zum Selbststudium geeignet.Table of ContentsEinführung und Grundlagen.- Monopol, Monopson und bilaterales Monopol.- Monopolistische Konkurrenz.- Oligopole 1: Mengen- und Preiswettbewerb.- Oligopole 2: Weitere Strategien im Wettbewerb.- Wettbewerbsbehindernde Strategien.- Ansätze zur Bestimmung der Marktstruktur.- Grundbegriffe der Spieltheorie.

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Book SynopsisLooking at cultural appropriation from around the world, this volume uses the field of cultural studies - heavily influenced by both economics and sociology - as a lens through which to view the paradigm of transcultural consumption. The editors present a variety of consumptive phenomena, including the introduction of Chinese foods to the United States, Ford cars in Germany, and American schoolbooks in the Philippines. Rejecting the idea that these interactions were simply forms of "Americanization," "Travelling Goods, Travelling Moods" fills a gap in consumer studies and enriches the debate about cultural transfer.

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Book SynopsisGibt es Wirtschaftswunderländer? Dazu fallen einem Japan ein oder Westdeutschland. Beide Nationen stiegen nach dem 2. Weltkrieg im wahrsten Sinne des Wortes wie Phönix aus der Asche empor – auch sank des Wissen und die Erfahrungen aus fast hundert Jahren Industriegeschichte. Südkorea hingegen startete aus dem Nichts. Heute zählen südkoreanische Unternehmen in vielen Bereichen zu den Weltmarktführern, siehe zum Beispiel Automobil- oder Hardware-Industrie. Und trotz eines bereits rege florierenden Handelsverkehrs sind Geschichte, Geografie Gesellschaft, Kultur und die wirtschaftliche Potenz Südkoreas vielen Menschen in West- und Mitteleuropa weitgehend unbekannt. Dabei bieten sich gerade in der Wirtschaft zahlreiche attraktive und lukrative Anknüpfungspunkte für deutsche Unternehmen. Kenntnisreich beschreibt der Autor die historische und die wirtschaftliche Entwicklung des Landes, die Kultur, die Werte und die Chancen und Herausforderungen, die sich deutschen Unternehmern in der Kooperation mit südkoreanischen Unternehmen bieten. ​Table of ContentsEinführung und frühere Besuche in Seoul.- Historische Entwicklung Koreas.- Land und Leute.- Staat und Wirtschaft – Determinanten der Entwicklung.- Formidable Konglomerate – die Chaebol.- Herausforderungen an die Unternehmensführung.- Markt und Marketing in Korea.- Schlussbetrachtung – Entwicklungen. ​

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Book SynopsisWie agieren Menschen mit unterschiedlichem kulturellen Werdegang und Hintergrund? Warum verläuft die Zusammenarbeit mit Partnern aus anderen Ländern oft so schleppend? Bei Geschäftssituationen drängen sich häufig Fragen auf, die Ratlosigkeit und Verunsicherung erzeugen. Wer sich den entscheidenden Themen stellt, befindet sich mitten im interkulturellen Lernprozess. Dabei unterstützt dieses Buch auf hervorragende Weise. Zu jedem Thema präsentiert es die grundlegenden Aspekte des interkulturellen Verstehens und bearbeitet anschließend sehr anwendungsbezogen die handlungsrelevanten Konsequenzen.Table of ContentsEinleitung.- Das Eigene, das Fremde und das Interkulturelle.- Gängige Ratschläge und Fehlurteile im Zusammenhang mit interkultureller Kompetenz.- Wege zum interkulturellen Verstehen.- Kulturelle Anpassung oder Selbstbehauptung.- Soziale Wahrnehmung, implizite Persönlichkeitstheorien und Weltbilder.- Persönlichkeitsfaktoren und interkulturelles Verstehen und Handeln.- Personale Eindrucksbildung und interpersonale Attraktion (Impression-Management).- Lernen, soziales Lernen, interkulturelles Lernen, interkulturelle Kompetenzentwicklung.- Perspektivenübernahme und Empathie.- Sprache und Kommunikation im interkulturellen Kontext.- Projektgruppen, Problemlöseprozesse, Teamentwicklung.

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Book SynopsisMarkus Fost trägt aktuelle, relevante Erkenntnisse zum E-Commerce systematisch zusammen und bereitet sie für die Praxis auf. Dabei richtet er sich an Unternehmenslenker und Manager aus diversen Bereichen (z. B. aus dem Vertrieb, Marketing, Business-Development etc.). Im Fokus stehen dabei produzierende Unternehmen, die momentan eine primär stationär geprägte Handelsstruktur aufweisen. Auf der Grundlage von qualitativen Experteninterviews entwickelt Markus Fost ein mehrdimensionales Strategiemodell für den E-Commerce, aus dem Handlungsoptionen für produzierende Unternehmen bzw. Hersteller abgeleitet werden können.Das nächste große Thema dürfte die Professionalisierung und der Ausbau des B2B-E-Commerce werden. Insofern liegt Herr Fost mit dem Thema „E-Commerce-Strategien für produzierende Unternehmen“ voll im Trend und liefert darüber hinaus auch einen hervorragenden Überblick über den aktuellen Stand der Diskussion in Wissenschaft und Praxis.Prof. Dr. Gerrit Heinemann, Hochschule NiederrheinMarkus Fost diskutiert sehr kompetent Online-Strategien für Hersteller und zeigt detailliert auf, wie Hersteller im E-Commerce erfolgreich sein können, ohne die lange bewährten Handelskontakte zu gefährden. Eine sehr lohnenswerte Lektüre für alle, die Strategien für Hersteller entwickeln müssen!Prof. Dr. Dirk Morschett, Universität Fribourg, SchweizImmer mehr produzierende Unternehmen erkennen die Potenziale des E-Commerce. Um von den Entwicklungen profitieren zu können, ist das Überdenken ihrer strategischen Ausrichtung notwendig. Das vorliegende Werk stellt hierfür eine sehr wertvolle Lektüre dar.Dr. Georg Wittmann, ibi research an der Universität Regensburg GmbHTrade Review“… Das Werk E-Commerce-Strategien für produzierende Unternehmen von Fost greift aktuelle und relevante Erkenntniss auf und stellt diese in den Kontext des Buches. Die gelungenen Ausführungen sind dabei anhand von zahlreichen Skizzen und Schaubildern verdeutlicht. Weitere Experteninterviews greifen aktuelle Themen auf und geben anschauliche Praxisbeispiele.” (Steuern-Buecher.de, Juli 2017)Table of ContentsGrundlagen und Wachstumsgründe von E-Commerce.- Handelsstrukturen von produzierenden Unternehmen.- Komponenten einer E-Commerce-Strategie für produzierende Unternehmen.- Entwicklung einer E-Commerce-Strategie für produzierende Unternehmen.- Modellierung der E-Commerce-Strategie für produzierende Unternehmen mit einer stationären Handelsstruktur.- Experteninterviews.- Ausblick.

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