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.

The process of globalization can be seen in the increase of: trade interdependence, the importance of global multinational corporations, mobility and volatility of capital flows (with dangers demonstrated by the recent Mexican crisis). This globalization creates both dangers and new opportunities, both winners and losers. The parallel growth of regional blocs is equally hazardous, particularly for countries left outside the regional blocs. The book, with contributions by eminent experts, describes the impact of both globalization and regionalization and the relationship between these two dominant trends.

Technology 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.

This book explores the relationship between the location of the firm, the location of its markets and suppliers, and the inventory holding behaviour of the firm. Space costs and time costs are manifested in inventory costs. The examination of these inventory costs allows new insights into the reasons for observed industrial location behaviour. In particular, we see that transport costs are only a small part of total distance costs, and that the values of the goods being shipped and the value-added by the firm, are crucial location determinants. This approach is then extended to an analysis of Just-In-Time (JIT) production.

This work considers the potential effects of competition in the natural gas pipeline industry. Contrary to published studies and government reports, this study concludes that federal regulation in the industry is no longer necessary to limit the market power of current pipeline suppliers. Rather, potential entry by nearby suppliers--a competitive factor largely ignored in most economic analyses--will promote competition in most major markets. The purpose of the work is two-fold: to quantify the competitive effect of potential market entry by natural gas suppliers; and to demonstrate that any industry analysis which fails to consider this competitive factor is likely to be in error.

This compilation and analysis of market-by-market data on current deliveries by pipeline, location of nearby deliveries, and location of nearby pipelines which make no deliveries will be of interest to scholars, policymakers, and industry analysts concerned with competitive, antitrust, and regulatory issues.

The book is the culmination of a research effort which spanned all continents and involved a large number of research teams from both the industrialised and developing countries. The book addresses a number of key issues related to technology transfer by small and medium-sized enterprises most especially whether such companies are more effective transferors than larger transnational corporations. A key aspect of the research was the fact that firms in source and host countries were matched to assure a degree of consistency in the firm coverage and their responses.

Can policy makers achieve national security goals through economic tools? Can state conflicts be fought out in economic battlefields? How do you stabilize and rebuild a country recently defeated in military combat? Can security aims be accomplished using economic policy tools--tools short of military action? National security questions are fundamentally economic. National governments have at their disposal many economic instruments used for national security such as economic sanctions and foreign aid, international trade, international finance and efforts to attack the sources of funding for international terrorism. This book examines the economic policies at available to a head of state and addresses how best to measure the success of these tools. Detailed case studies throughout the book allow readers to understand the decision-making process and how to craft policies designed to influence specific outcomes. The book surveys policies currently used as well as those that may not be appreciated for their national security application. The first part of the book gives an overview of basic analytical tools. It examines microeconomics applied to international "actors": autocrats and leaders in democracies. The second part looks at the "arsenal" of economic tools: sanctions, aid, finance, trade, courts, etc. Case studies are examined to provide a way forward in tackling the war on terrorism.

This modern day rags-to-riches story tells how one of the poorest nations in the world evolved into one of the most technologically advanced. How did South Korea do it? The miracle' that occurred in South Korea was produced, in essence, by military men, many of whom had undergone extensive managerial training in the United States in the preceding decade, who gave marching orders' to a responsive populace. "Marching Orders," a historically factual, yet fast-paced and dramatic page turner, ' chronicles, in five parts, the history and events that led to General Park Chung Hee's 1961 coup d'etat and the transformations in Korean society that followed it during the next decade. Part One surveys Korea prior to 1961--a deprived colony during the Japanese occupation, then a war-devastated, barely industrialized nation whose existence depended heavily on U.S. economic aid. Part Two analyzes the military establishment--a crucial factor in Korea's economic prosperity even today. The military takeover of 1961 and the subsequent establishment of the Supreme Council for National Reconstruction (SCNR) were the turning points for this politically and economically bankrupt nation. These events led to the massive changes which are detailed in Parts Three and Four along with the rationalization' of the political sphere and the various aspects of economic rationalization, ' including the now-famous New Village Movement, a model of agricultural development for other emerging nations. In Part Five, the role and potential of the military in national development are explained and South Korea is presented as a success story. Indeed, Marching Orders could well serve as a How To' book for emerging countries.

Highly readable, "Marching Orders" has been written for the generalist without sacrificing scholarship. It will also prove useful to specialists in sociology, political science, economics, and Southeast Asia; to entrepreneurs engaged in trade with South Korea; and to those interested in Third World Development. An excellent addition to the reading lists of courses in development, comparative history, and military-civil cooperation.

This book presents a theory of the general dynamic economic equilibrium which is a development of the static theory of Walras and Pareto. The work has built up an analytical model of the effective, current movement of an economic system, founded on the logic of the individual changing programmes - a basis for finding out the laws of all types of endogenous and exogenous movements of the economy. Indeed, the model can be used in the treatment of the typical problems of dynamic economics, by means of the author's method of variational dynamic analysis.

The electric power sector operates under an archaic regulatory system that is ill-equipped to oversee a competitive, restructured, regionally-organized industry. This book offers the first systematic discourse on regional aspects of regulatory reform, sharing topical perspectives from leading actors and regional case studies that show how the debate plays out on the ground. It frames the policy debate, applies economic and political theoretical lenses to federalism issues, and outlines options for regulatory reform, modes of cooperation, and an analytical basis for decisions. Most important, it provides a strategic road map for the industry over the coming decade. Contributors include current and former regulators at the State and Federal levels, senior utility executives, leading advocates, government policy makers and academics, including Michael Danielson, Michehl Gent, Kenneth Gordon, Kevin Kelly, Raymond Maliszewski, Richard O'Neill, Jackie Pfannensteil, Mary Sharpe Hayes, Charles Stalon, and many others.

This 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.

This supplement focuses on the NBA with particular reference to pay and performance. In-depth analyses of positional pay variations, player negotiations, supply and demand and econometric models of pay and performance seek to give a much clearer picture of why, how and when pay is awarded in the sports industry and particularly in the NBA. The volume concludes with a retrospective of the 1995 All-Star Players.

The purpose of this contributed volume is to consider how global consumption patterns will develop in the next few decades, and what the consequences of that development will be for the economy, policymakers, and society at large. In the long run, the extent to which economic growth translates into better living conditions strongly depends on how rising affluence and new technologies shape consumer preferences. The ongoing rise in household income in developing countries raises some important questions: Will consumption patterns always continue to expand in the same manner as we have witnessed in the previous two centuries? If not, how might things evolve differently? And what implications would such changes hold for not only our understanding of consumption behavior but also our pursuit of more sustainable societies?

This is an updated and edited version of Robin Marris' classic "The Economic Theory of Managerial Capitalism" (1964). This was widely recognized as pathbreaking as it was the first attempt by a professional economist to make a formal theory of the behavior and growth of a large-scale "managerial" corporation based on a realistic assessment of the sociological and institutional environment. The model determined the long run growth rates of individual firms on the basis of the financial and market environment on the one hand, and the needs, interest and aspirations of both managers and shareholders on the other. Managers in particular were shown to trade desire for growth against fear of takeover. These then novel important features of modern capitalism--mergers, takeovers and executive bonuses and the relationship between the growth of firms and the growth of the economy--have become increasingly topical. The new book contains the original introduction along with reworked and updated coverage of the theoretical model, along with completely new chapters both of micro-theory and assessing and responding to the debate which the book created.

This volume collects papers from Hugo Sonnenschein's students. It aims to demonstrate his tremendous impact as an advisor. The papers span decades and present some of the most important articles in microeconomic theory. Each paper is accompanied with a preface by the student providing background on the paper and indicating Hugo's influence on its genesis. The papers all lie in microeconomic theory, and moreover all make fundamental contributions to the foundations of the theory.

In modern economies a substantial proportion of resources is increasingly allocated to transaction costs. An improvement in the definition of transaction costs to include both the information role and efficiency role requires an integration of the approaches of positive economics and normative economics. In The Economics of Transaction Costs P.K. Rao provides a comprehensive analytical treatment of the subject and suggests a few directions for formal economic models.

Mathematical Models of Distribution Channels identifies eight "Channel Myths" that characterize almost all analytical research on distribution channels. The authors prove that models that incorporate one or more Channel Myths generate distorted conclusions; they also develop a methodology that will enable researchers to avoid falling under the influence of any Channel Myth.

The book analyses and evaluates the development role and impact of the state in East Asia, in both capitalist (South Korea and Taiwan) and socialist (China) contexts. It makes use of new research data on the mechanisms and impact of state intervention in East Asian development and presents an original theory, taking issue with the conventional view that East Asian development reflects the power of market forces.

Until the 1900s colonial and indigenous governments of Southeast Asia farmed out the right to run opium, gambling and other monopolies. Yet by about 1920 all of the major farms had been abolished and the collection of revenue brought under direct bureaucratic control. This book tries to explain the rise and sudden fall of revenue farming to trace the changing fortunes of the Chinese businessmen who held the major farms and to use the study of revenue farming to examine the emergence of the modern state in Southeast Asia and the great economic changes of this period.

In this important book, industrial and enterprise reform over the last decade in Eastern Europe is critically reviewed in light of increasing Eastern integration into the global economy. The authors argue for the further globalization of Eastern European enterprise networks as a condition for recovery and growth in the region. Empirical evidence is provided from five industrial sectors (car industry, telecommunication, shipbuilding, computers, software), including case studies and international comparisons.

By 1968, 200 corporations held over 60 percent of the nation's manufacturing assets and total annual profits. This book is a comprehensive study of the enormous concentration of economic power resulting from the Third Great Merger Movement, during which over 9,400 firms disappeared through merger, increasing from 954 in 1961 to 2,442 in the peak year of 1968. This great merger wave took place during a period of prosperity marked by a rapidly expanding economy, easy money, and a bouyant stock market. The conglomerate firm was the most prominent feature of the Third Great Merger Movement.

This volume aims at covering the variety of issues lying at the intersection of the modern theory of Industrial Organization and of the more traditional Agricultural Economics. The book is divided into three main sections. Each of them includes contributions which are particularly relevant for a better understanding of one or several of the following key issues: the organization of agriculture and its mechanisms, the extent of the market power in agri-food industries and, more generally, the failures of agricultural markets, and finally the nature of government's intervention in these markets.