In this groundbreaking new study, Whicker and Moore address an issue of critical importance to the future economic and political stability of the United States: how can this nation become more competitive in international markets. Drawing upon economic theory, political philosophy, and specific policy expertise, the authors organize their work around two principle themes: that just as the role of government in a changing world is evolutionary, policies must evolve to reflect shifting economic realities, and that previously hostile attitudes among U.S. management, labor, and government must be replaced by cooperation in order to ensure effective, long-term competitiveness abroad.

The global wine industry is a continually modifying market impacted by financing, culture, and politics. Economics, Governance, and Politics in the Wine Market follows developments in European agriculture policies on wine legislation and market trend orientation between political power and market structure, from their inception through recent reforms. This political economic analysis seeks to explain the implementation of wine policies applied to production management in Europe. Gaeta and Corsinovi use The Public Choice model to describe bargaining and trade-off in agriculture wine policy by governments, producers, and critical industrial organizations. They argue that market problems cannot be analysed without an understanding of the motives and processes behind upstream policy decisions. With the book's theoretical approaches and famous case studies, readers become agricultural wine experts capable of navigating the current complex wine market of the European Union.

The book discusses, elaborates on and answers questions to the following points: Firstly, what has changed through the information technology represented by software, Internet and big data? How do these changes effect the production relationships, the production mode and the industrial development model? Can China realize a "great-leap-forward" in economic development by promoting such a new Internet economy? Secondly, what is the format shown by the Internet economy? Is the Internet economy a market economy, or a planned economy, or is it an economic complex format which combines the planned economy and the market economy? What is the structure of the future economy? Which entities will compete with each other throughout the industries? What is the format of the future financial investment industry? Why does the Internet economy have a revolutionary impact on the economic base and the superstructure? Thirdly, let us look back on the traditional manufacturing industry. What on earth is the core value of the manufacturing industry? How is the core technology and core value of manufacturing realized? Why can it be that the industrial Internet will become a rare historical opportunity for China's manufacturing industry and economy to achieve a "great-leap-forward" development? Finally, in the big economic tide of Internet and big data, what are the future variables of China's economy? What is the established economic policy of the United States for the global economy and industries? How should the economic variables of the United States be best dealt with, those that are determined as "US priority" and "the return of manufacturing industry" strongly promoted by the U.S. President Trump?

Dealing with economic issues related to income and wealth among individuals, regions and countries, this book presents a general theory with endogenous capital, knowledge and preference changes for an economic system with heterogeneous households, multiple sectors, multiple regions and multiple countries.

People regularly multitask, though we have been warned about the mental costs of "task-switching" in psychology and the popular press. Meanwhile, economists have remained silent on the possible economic ramifications - both good and bad - of producers and/or consumers doing more than one thing at once. This first-of-its-kind volume explores the frequency, patterns, and economic implications of multitasking, with a particular focus on the multitasking of non-market activities such as child care, housework, eating, and studying. Using data sets from around the world and best-practice empirical and experimental techniques, the contributors to this volume explore the association of multitasking with output and welfare in a range of settings of interest to economists. Contributions in theory, empirical work, data management, and concepts are combined to yield the discipline's first holistic view of multitasking and to identify where the research frontiers lie in this area.

A growing literature in economics has studied how fairness considerations shape human behavior. This review analyses the key theoretical and empirical contributions spanning the last four decades, along with influential related work in normative economics. It argues that the fairness motive is essential for understanding human behavior in a wide range of settings, such as markets, bargaining, and redistributive situations. It moves on to a discussion of the large heterogeneity in what people view as fair and the importance people attach to fairness, displaying how a concern for fairness develops in childhood and manifests itself in the brain. This research review will be a valuable tool for those interested in the fascinating field of the economics of fairness.

Utz-Peter Reich addresses economists interested in a sound empirical foundation for their theoretical concepts. He investigates economic value and determines how value is defined in theory, which is microeconomic, and how it is measured in practice in national accounts. He demonstrates that microeconomic theory is not made to guide or interpret national accounts figures and he offers an alternative theory.

Conventional economic theory assumes that consumers are fully rational, that they have well-defined preferences and easily understand the market environment. Yet, in fact, consumers may have inconsistent, context-dependent preferences or simply not enough brain-power to evaluate and compare complicated products. Thus the standard model of consumer behavior-which depends on an ideal market in which consumers are boundlessly rational-is called into question. While behavioral economists have for some time confirmed and characterized these inconsistencies, the logical next step is to examine the implications they have in markets.
Grounded in key observations in consumer psychology, Bounded Rationality and Industrial Organization develops non-standard models of "boundedly rational" consumer behavior and embeds them into familiar models of markets. It then rigorously analyses each model in the tradition of microeconomic theory, leading to a richer, more realistic picture of consumer behavior. Ran Spiegler analyses phenomena such as exploitative price plans in the credit market, complexity of financial products and other obfuscation practices, consumer antagonism to unexpected price increases, and the role of default options in consumer decision making. Spiegler unifies the relevant literature into three main strands: limited ability to anticipate and control future choices, limited ability to understand complex market environments, and sensitivity to reference points.
Although the challenge of enriching the psychology of decision makers in economic models has been at the frontier of theoretical research in the last decade, there has been no graduate-level, theory-oriented textbook to cover developments in the last 10-15 years. Thus, Bounded Rationality andIndustrial Organization offers a welcome and crucial new understanding of market behavior-it challenges conventional wisdom in ways that are interesting and economically significant, and which in the end effect the well-being of all market participants.

The virtues and failings of market economies are at present widely debated and the outcome of the debate is of practical importance. This book contains essays that address these issues of economic policy ranging from privatization of industry and financial markets to education and the proposal for an internal market in the health service. Apart from two general theoretical pieces, particular markets, and proposals for creating such markets, are studied.

The chapters of this book provide a better understanding of wine economics, by addressing new issues such as sustainable development, food authenticity, financial expectations and consumption economics. Many of the discussed topics have been recently developed by economists (e.g. global warming and wine tourism) despite having been mostly covered by specialists in management, marketing and geography. Other fields correspond to new investigations of traditional topics, such as ranking wines or consumer behaviour, and new analyses in strategic choice (for example how to bottle wine or to sell bulk wine, to select grape varieties at replanting, to distinguish attitudes, intentions and behaviour in exporting). "Wine Economics" draws attention to the positioning of different market players and explores alternative regulations for public policy.

Russia is moving dramatically ahead in reforming its economy and its firms. This joint Russian and American work focuses on the key issue in the Russian economic reform process--how to convert state-owned firms into successful private companies capable of competing in a market economy. Unique case studies of Russian enterprises, their legal and internal structure, management philosophy, and economic performance, provide insightful analyses of the ongoing Russian experience with economic reform. Recent Russian legislation and its implications for privatization are also discussed.

This book has its focus on the dynamics of oligopoly games. Several contributions show how easily the unique Nash equilibria in some most traditional oligopoly models may lose stability, giving way to complex phenomena, such as periodic/chaotic processes, and to multi stability of coexistent attractors. The bifurcations producing these phenomena are studied by means of recently accumulated global methods, based on the use of critical curves. These tools are explained in a separate methodological chapter. The book also contains some historical background of the present theory. In this way the book becomes suitable also as an advanced text for industrial organisation courses. The various models presented in the book focus both classical Cournot types, and Hotelling`s "ice cream vendor" problems, including location choice. The author list comprises some of the most prolific contributors to current dynamic oligopoly modelling.

Although China is generally considered to have suffered continuous deforestation over most of its history, forests were protected or even planted and maintained for centuries in some places. This study identifies six such cases. It uses historical evidence to show that individuals and communities act to manage resources sustainably for a number of reasons including economic benefit, religious or symbolic purposes, and that sustainability of the management system depends on the form of control exerted over the resource.

Hardbound. Volume 9 is entitled Industrial Organization and is the ninth volume in the series Advances in Applied Microeconomics. This series provides a forum in which researchers may disseminate frontier research in applied microeconomics to include both theoretical and empirical contributions in applied areas such as industrial organization, consumer and producer behavior, public economics, natural resources, and other applied microeconomic fields. Volumes are published along themes and contain theoretical papers that apply state-of-the-art theory to model important real-world phenomenon, as well as empirical papers that examine such phenomenon.

In six chapters this book introduces a micro-economic model where trade takes place through a stable structure of bilateral exchange institutions.The main problem in such models is that, for well-known equilibrium concepts, equilibrium may fail to exist in the corresponding game. In this work an adaptation of such models - hierarchically structured economies - is introduced. The possibilities and limitations of the use of the concept of subgame perfect equilibrium within the context of this kind of models is discussed. Furthermore, it is shown that some well-known market forms, viz. Walrasian and monopolistic markets, occur as special cases. A modification of the concept of subgame perfect equilibrium is introduced to formulate and prove a general theorem on the existence of equilibrium in hierarchically structured economies.

It is beyond any doubt that East-Central European countries such as Czech Republic, Hungary, Poland and Slovakia has dramatically changed its shape through its radical transition from centrally planned to the market economies in last 7 years. Many economists divide the process of economic transformation into areas of Stabilization, Liberalization, and Privatization/Restructuring. The traditional view is that stabilization and liberalization can be achieved rather quickly-by balancing budgets, balance of payments, tightening money supply, freeing prices and liberalizing trade-but that the area of privatization is one that could be moved to the future and will require much more time. Until 1991, none of the post-communist nations except former East Germany (which had a large decree of support from West Germany) had succeeded in privatizing large numbers of enterprises, even though more than two years had passed since the changes in government in these nations. The privatization has been, however, seen as an extremely important part of reform package together with stabilization and liberalization especially in the Czech Republic from the very beginning. The Czechs originally as a part of the Czechoslovak Federal Republic embarked on an unprecedented path that should have lead not only to stabilization and liberalization, but also to very rapid, mass privatization of its sector of large enterprises that have dominated its economy to an extreme extent.

This anthology concerns the economic and demographic changes that have occurred in northeastern Ohio since 1960, but specifically during the 1970s and 1980s when that region's major industries (rubber, steel, automobiles) experienced severe decline. Sixteen chapters reflect on the reasons for industrial restructuring, the implications for population growth and future employment and investment opportunities, and the role of local, state, and national governments in undertaking policies that generate economic activity. Three themes dominate: the centrality of employment in regional development; the relation between economic development and product cycles (and thus the need to introduce new economic activities to the region); and the regional, national, and international constraints on local economic-development initiatives. "Choice"

Much has been written concerning the erosion of the industrial base in this particular region and other areas of the country. Drawing heavily upon contributions from nationally recognized experts on urban and regional development as well as input from nanacademic sources, the present volume uses Northeastern Ohio as a case study of older industrial areas suffering from economic repression. Among the topics discussed are the limits of traditional development, fiscal implications of industrial restructuring, and urban adaptibility. Particular cities are also examined in order to pinpoint development problems and to offer alternative paths to local progress.

Written by specialists in law and economics, this book studies the role of liability rules in an effort to illustrate the possible consequences of statutory tampering with them. The contributors explain how statutory and common law liability rules evolved, how they work in current practice, and how changes in rules can alter economic outcomes in significant and unintended ways. Although price theory is the primary analytical tool employed in the study, the contributors also provide a wealth of institutional detail intended to illuminate the structure and operation of forces at work when questions of product or service liability arise.

Throughout, the contributors focus on the effects of individual decision making: how incentives faced by individuals are affected by liability rules and how the collective actions of purposeful individuals working in private markets and through the political process affect social outcomes. Among the specific topics addressed are using liability rules to deter government takings, the impact of government liability on private risk avoidance, the allocation of product liability by market share, liability and environmental quality, the effects of the flammability rule, deposit insurance and the savings and loan fiasco, and the political debate over automobile air bags. The contributors conclude that attempts to remedy alleged defects in the common law by legislative edict are not well grounded. Ideal as supplemental reading for courses in business and government, this volume will also be of significant interest to students of law and economics.

Providing an empirical look at the Jamaican economy, this careful study examines the impact of the (International Monetary Fund) approach to economic management in the 1980s and compares it to the non-IMF policies of the 1970s. Opening with an overview of the structure of Jamaica's economy, the book discusses the results of the economic policies of the 1970s and 1980s. Demonstrating that Jamaica's income is among the most unequally distributed in the world, the author explores how the policies of various governments affected income distribution, focusing on whether non-IMF policies had a different effect than IMF policies. He concludes with a discussion of how inflation and fiscal policies influence particularly vulnerable groups, which include children, the elderly, and much of the labor force.

Corporate social responsibility is examined in this book as multi-stakeholder approach to corporate governance. This volume outlines neo-institutional and stakeholder theories of the firm, new rational choice and social contract normative models, self regulatory and soft law models, and the advances from behavioural economics.

Strategic Interaction and Markets explores the theoretical richness of economic contexts such as product differentiation, strategic barriers to entry, and imperfect information, where economic agents act strategically taking into account the impact of their behaviour on competitors' behaviour and prices. This non-ideal form of competition is the standard result when competition is amongst a small number of agents. Designed as an ancillary text for graduate students, this book is an accessible introduction to the applications of a complex area of mathematical economics.

Business cycle theory has been one of the fastest growing fields in modern nonlinear economic dynamics. The book is centered around models of multiplier-accelerator type, emerging from Samuelson's seminal work, later developed into nonlinear formats by Hicks and Goodwin. These models left open ends, as the tools then available did not permit more systematic analysis. The present situation is different, due to the emergence of new methods also focusing global analysis. The focus on classical, causal or recursive models implies a deviation from current main stream business cycle theory, based on "rational expectations," which in view of the possibility of mathematical chaos becomes untenable. This book is a rejoinder to Puu and Sushko, Oligopoly Dynamics - Models and Tools, (Springer 2002).

A collective effort by American and North African scholars, this volume provides a comprehensive analysis of recent economic, social, and political events in North Africa. It shows how the Maghrebi states and societies are currently at a very important junction as they try to adjust to different ways of doing things in new regional and international orders. Using a political economy approach, the book focuses on a series of issues raised by the interaction between economic crisis and reform on the one hand, and political change or stagnation on the other. The author and his contributors provide a comprehensive and up-to-date survey of particular value to scholars and researchers of the Arab world in general and North Africa in particular.

Transport 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.