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Author: Joseph E. Stiglitz
Publisher: MIT Press
ISBN: 9780262012058
Category : Business & Economics
Languages : en
Pages : 722
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Book Description
The focus of Joseph Stiglitz's work in economics throughout his long and distinguished career has been on the real world, with all of its imperfections.
Author: Joseph E. Stiglitz
Publisher: MIT Press
ISBN: 9780262012058
Category : Business & Economics
Languages : en
Pages : 722
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Book Description
The focus of Joseph Stiglitz's work in economics throughout his long and distinguished career has been on the real world, with all of its imperfections.
Author: Georges Dionne
Publisher: Springer Science & Business Media
ISBN: 0792392043
Category : Business & Economics
Languages : en
Pages : 748
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Book Description
Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.
Author: Roman Frydman
Publisher: Princeton University Press
ISBN: 0691261156
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
Posing a major challenge to economic orthodoxy, Imperfect Knowledge Economics asserts that exact models of purposeful human behavior are beyond the reach of economic analysis. Roman Frydman and Michael Goldberg argue that the longstanding empirical failures of conventional economic models stem from their futile efforts to make exact predictions about the consequences of rational, self-interested behavior. Such predictions, based on mechanistic models of human behavior, disregard the importance of individual creativity and unforeseeable sociopolitical change. Scientific though these explanations may appear, they usually fail to predict how markets behave. And, the authors contend, recent behavioral models of the market are no less mechanistic than their conventional counterparts: they aim to generate exact predictions of "irrational" human behavior. Frydman and Goldberg offer a long-overdue response to the shortcomings of conventional economic models. Drawing attention to the inherent limits of economists' knowledge, they introduce a new approach to economic analysis: Imperfect Knowledge Economics (IKE). IKE rejects exact quantitative predictions of individual decisions and market outcomes in favor of mathematical models that generate only qualitative predictions of economic change. Using the foreign exchange market as a testing ground for IKE, this book sheds new light on exchange-rate and risk-premium movements, which have confounded conventional models for decades. Offering a fresh way to think about markets and representing a potential turning point in economics, Imperfect Knowledge Economics will be essential reading for economists, policymakers, and professional investors.
Author:
Publisher:
ISBN: 9781422499436
Category : Law and economics
Languages : en
Pages : 442
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Book Description
Author: Huw David Dixon
Publisher: Bloomsbury Publishing
ISBN: 1137041420
Category : Business & Economics
Languages : en
Pages : 222
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Book Description
Surfing Economics is a collection of essays by one of Europe's leading young economists. These essays are written to bring to life in a non-technical manner some of the fundamental ideas and concepts in contemporary economics, including new Keynesian economics, the natural rate, bounded rationality, social learning and the meaning of economics. Whilst primarily written for the undergraduate student, these essays will entertain and enlighten economists of all ages. Above all, the essays convey the enthusiasm and excitement of Huw Dixon for economics along with his valuable insights into the subject. Just the thing to brighten up your reading lists.
Author: S. J. Liebowitz
Publisher: NYU Press
ISBN: 9780814751787
Category : Business & Economics
Languages : en
Pages : 286
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Book Description
The top left hand side of the keyboard reads "Q-W-E-R-T-Y." Is this inefficient layout an inefficient early development to which we are now forever committed? The "economics of QWERTY" describes cases in which it has been claimed that technologies which have become accepted are not as good as rival technologies. Perhaps they have been "locked in" at an early stage, preventing newer, better possibilities from taking hold. Distinguished economists Stan Liebowitz and Steven Margolis have critically examined the various aspects of the economics of QWERTY and its implications, calling into question the historical accuracy of the standard account of QWERTY and similar cases such as those of Beta/VHS and Macintosh/Windows. They contend that no plausible case of inferior standards being locked in has ever been documented, though much antitrust activity and legislative policy has been based on the belief in the occurrence of such cases. The Economics of Qwerty brings together into one volume Liebowitz and Margolis's essential contributions, remarkable for their eloquence and relevance, to consider these issues, which are of real and enduring importance for the functioning of the market economy. Together they constitute a complete account of the critique of the economics of QWERTY.
Author: Timothy F. Bresnahan
Publisher: University of Chicago Press
ISBN: 0226074188
Category : Business & Economics
Languages : en
Pages : 508
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Book Description
New goods are at the heart of economic progress. The eleven essays in this volume include historical treatments of new goods and their diffusion; practical exercises in measurement addressed to recent and ongoing innovations; and real-world methods of devising quantitative adjustments for quality change. The lead article in Part I contains a striking analysis of the history of light over two millenia. Other essays in Part I develop new price indexes for automobiles back to 1906; trace the role of the air conditioner in the development of the American south; and treat the germ theory of disease as an economic innovation. In Part II essays measure the economic impact of more recent innovations, including anti-ulcer drugs, new breakfast cereals, and computers. Part III explores methods and defects in the treatment of quality change in the official price data of the United States, Canada, and Japan. This pathbreaking volume will interest anyone who studies economic growth, productivity, and the American standard of living.
Author: Martin Guzman
Publisher: Columbia University Press
ISBN: 0231546807
Category : Business & Economics
Languages : en
Pages : 548
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Book Description
Joseph Stiglitz is one of the world’s greatest economists. He has made fundamental contributions to economic theory in areas such as inequality, the implications of imperfect and asymmetric information, and competition, and he has been a major figure in policy making, a leading public intellectual, and a remarkably influential teacher and mentor. This collection of essays influenced by Stiglitz’s work celebrates his career as a scholar and teacher and his aspiration to put economic knowledge in the service of creating a fairer world. Toward a Just Society brings together a range of essays whose breadth reflects how Stiglitz has shaped modern economics. The contributions to this volume, all penned by high-profile authors who have been guided by or collaborated with Stiglitz over the last five decades, span microeconomics, macroeconomics, inequality, development, law and economics, and public policy. Touching on many of the central debates and discoveries of the field and providing insights on the directions that academic economics could take in the future, Toward a Just Society is an extraordinary celebration of the many paths Stiglitz has opened for economics, politics, and public life.
Author: Frédéric Bastiat
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 58
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Book Description
Author: Aliev Rafig Aziz
Publisher: World Scientific
ISBN: 9814611050
Category : Mathematics
Languages : en
Pages : 468
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Book Description
Every day decision making in complex human-centric systems are characterized by imperfect decision-relevant information. The principal problems with the existing decision theories are that they do not have capability to deal with situations in which probabilities and events are imprecise. In this book, we describe a new theory of decision making with imperfect information. The aim is to shift the foundation of decision analysis and economic behavior from the realm bivalent logic to the realm fuzzy logic and Z-restriction, from external modeling of behavioral decisions to the framework of combined states.This book will be helpful for professionals, academics, managers and graduate students in fuzzy logic, decision sciences, artificial intelligence, mathematical economics, and computational economics.
