This 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.

Electoral promises help to win votes and political candidates, or parties should strategically choose what they can deliver to win an election. Past game-theoretical studies tend to ignore electoral promises and this book sheds illuminating light on the functions and effects of electoral promises on policies or electoral outcomes through game theory models. This book provides a basic framework for game-theoretical analysis of electoral promises. The book also includes cases to illustrate real life applications of these theories.

Neuroeconomics has emerged as a paradigmatic field where neuroscience and the social sciences are integrated in one analytical and empirical approach. However, the different disciplines involved often only relate to each other via the shared object of research, and less through the constructing of precise models of integrative mechanisms. Social Neuroeconomics explores the potential of philosophical and methodological reflections in the neurosciences and the social sciences to inform those efforts at cross-disciplinary integration, with a special focus on recent contributions to mechanistic explanations. The collected essays are drawn from the fields of neuroscience, psychology, economics, sociology and philosophy, and examine the ways and methods of constructing unified conceptual frameworks that can guide empirical work and hypothesis building. This is demonstrated in a range of applications, particularly regarding finance and consumer behavior. The concept of the 'social brain' is also explored; a multilevel framework in which complex analytical categories such as emotions or socially mediated cognitive processes connect neuronal and social phenomena in specific mechanisms that generate behavior. This book addresses a wide audience across the various disciplines, reaching from the neurosciences to the social sciences and philosophy.

What is the role of culture in the innovation dynamic of small firms within the context of their territorial environments? How do shared values, beliefs and practices underpin the knowledge production process that leads to innovation? In what way do symbolic aspects of social life shape European SMEs' innovation processes? This volume gives an extensive insight into the complex links between culture and innovation in one of the key agents of economic life: SMEs and micro firms. The chapters employ different analytical and methodological strategies in regions of Europe to identify dimensions of culture, especially values, norms, skills and institutions, and to scrutinize which specific components of culture are relevant to firm innovation and to the more general dynamics of regional innovation. The original research presented shows how small firms learn, interact, compete and collaborate with other key agents of the innovation system. Taken as a whole, the volume points the way towards a more comprehensive framework for understanding the nature of innovation in SMEs and micro firms. The chapters in this book were originally published as a special issue of European Planning Studies.

This 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.

This highly original book develops a systematic zero-net-profit comparative statics theory of the firm that challenges many widely held views in microeconomics. It builds a bridge between the marginalist long-run theory of the firm and Sraffian theory to create a unified theoretical framework that explains how firms react to exogenous shocks resulting in new equilibrium positions of the whole economy. The central message of the book is that too often economists expect more from the microeconomic laws of input demand and output supply than they can really give. The authors show that the zero-net-profit condition requires a more articulated analysis that sometimes yields qualitative results contrary to those of familiar economic laws. Written for academic researchers and graduate students, the book will be of particular interest to those working on the microeconomics of industry equilibrium, comparative statics and Sraffian economics.

Rapid 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.

Economic Growth and the Environment explores the debate on how to reconcile economic growth with protection of the natural environment, and the closely related discussion on whether an increasing scarcity of natural resources will eventually force economic growth to cease. The debate focusses on whether environmental policies will benefit the economy or not, and is divided into growth optimists and growth pessimists. In general, economists have been optimistic and have pointed to the possibilities of technological progress and substitution, yet they also acknowledge that natural resources and environmental concern do restrict economic growth. The difficulty lies in quantifying the constraint to economic growth. Modern growth economists have constructed models to examine to what extent 'growth pessimism' is theoretically warranted. This book provides an introduction to some of these models, brings together the discussion between growth optimists and pessimists, and presents the theory behind their arguments. It aims to present models where both sides can meet and where both are able to derive expected results with the parameter values that they deem appropriate. From there, the discussions can turn to the empirical observations about these parameters. This book will be of interest to advanced undergraduates in economics, microeconomics, economic growth, sustainable development, and environmental economics. Each chapter concludes with a set of Exercises designed to help the reader master the models.

Originally published in 1984 Theories of Welfare looks at theories of social administration developed in different social science disciplines. The book ranges widely and gives concise coverage to the historical and intellectual background in which the theory emerged, the implicit or explicit value assumptions, and account of the most important theoretical concepts and the major criticisms of them, an indication of the relevance to social administration and a guide to further reading.

This 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.

Cost-benefit analysis (CBA) is the systematic and analytical process of comparing benefits and costs in evaluating the desirability of a project or programme - often of a social nature. It attempts to answer such questions as whether a proposed project is worthwhile, the optimal scale of a proposed project and the relevant constraints. CBA is fundamental to government decision making and is established as a formal technique for making informed decisions on the use of society's scarce resources. This timely sixth edition of the classic Cost-Benefit Analysis text continues to build on the successful approach of previous editions, with lucid explanation of key ideas, simple but effective expository short chapters and an appendix on various useful statistical and mathematical concepts and derivatives. The book examines important developments in the discipline, with relevant examples and illustrations as well as new and expanded chapters which build upon standard materials on CBA. Highlights include: updated historical background of CBA extended non-market goods valuation methods the impact of uncertainty evaluation of programmes and services behavioural economics decision rules and heuristics CBA and regulatory reforms CBA in developed and developing countries value of household production other topics frequently encountered in CBA, such as costs of diseases and air pollution, and value of statistical life. This book is a valuable source and guide to international funding agencies, governments, interested professional economists and senior undergraduate and graduate students. The text is fully supported by a companion website, which includes discussion questions and PowerPoint slides for each chapter.

A comprehensive presentation of the use of economics in judicial decisions, the book is structured to provide all the foundational concepts that are important for the application of economics to the development and interpretation of statutes that emanate from economic conditions. The diversity of the economic field defines the scope of the book and its relevance to the study of law and rule adjudication. Beyond the positive dimensions of law and economics, the book evaluates the normative aspects of law and economics when laws are imprecise, and markets are inefficient. The ethical scope of transactions and rule adjudication are further considered in the context of professional ethics and the rationale for ethical considerations in the practice of law and economics. It presents a unique analysis of law, finance, and economics, by taking a look at the intricate quantitative requirements that are essential for scientific knowledge in the courtroom and the international dimensions of the practice of law and economics beyond municipal frontiers. It alerts entrepreneurs to risk exposures in the global economy and provides foundational information for readers who are also interested in international law and economics, and the essence and interpretations of international conventions appertaining to money, expropriation, the environment, and investments in international financial markets. This book is a useful reference for both undergraduate and graduate students who are interested in law and economics, forensic economics, corporate white-collar crime, and legal studies. It is also valuable for certificate programs for paralegals who wish to have a basic understanding of economic and financial concepts.

A comprehensive presentation of the use of economics in judicial decisions, the book is structured to provide all the foundational concepts that are important for the application of economics to the development and interpretation of statutes that emanate from economic conditions. The diversity of the economic field defines the scope of the book and its relevance to the study of law and rule adjudication. Beyond the positive dimensions of law and economics, the book evaluates the normative aspects of law and economics when laws are imprecise, and markets are inefficient. The ethical scope of transactions and rule adjudication are further considered in the context of professional ethics and the rationale for ethical considerations in the practice of law and economics. It presents a unique analysis of law, finance, and economics, by taking a look at the intricate quantitative requirements that are essential for scientific knowledge in the courtroom and the international dimensions of the practice of law and economics beyond municipal frontiers. It alerts entrepreneurs to risk exposures in the global economy and provides foundational information for readers who are also interested in international law and economics, and the essence and interpretations of international conventions appertaining to money, expropriation, the environment, and investments in international financial markets. This book is a useful reference for both undergraduate and graduate students who are interested in law and economics, forensic economics, corporate white-collar crime, and legal studies. It is also valuable for certificate programs for paralegals who wish to have a basic understanding of economic and financial concepts.

This 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.

Managerial economics, meaning the application of economic methods in the managerial decision-making process, is a fundamental part of any business or management course. The current business environment presents managers with increasingly difficult decisions, amidst the Covid-19 pandemic and associated lockdowns, as well as the digital revolution and improved technology. Now in its second edition, this textbook features a new focus on how managerial economics has been transformed by the increasing importance of digitization within both the workplace and wider economy. It also features a new chapter on consumer theory, which emphasizes psychological factors and behavioural economics. Wilkinson adapts a user-friendly problem-solving approach to take the reader in gradual steps from simple problems through increasingly difficult material to complex case studies, demonstrating how to apply the principles of managerial economics to real-life situations. This book will be invaluable to business and economics students at both undergraduate and graduate levels.

War Movies and Economics: Lessons from Hollywood's Adaptations of Military Conflict applies ongoing research in the relatively new genre of economics in popular media to Hollywood's war movies. Whether inadvertently or purposefully, these movies provide numerous examples of how economic principles often play an important role in military conflict. The authors of the chapters included in this edited collection work to illustrate economics lessons portrayed in adaptations such as Band of Brothers, Conspiracy, The Dirty Dozen, Dunkirk, Memphis Belle, Saving Private Ryan, Schindler's List, Spartacus, Stalag 17, and Valkyrie. Aspects of these stories show how key economic principles of scarcity, limited resources, and incentives play important roles in military conflict. The movies also provide an avenue for discussion of the economics of public goods provision, the modern economic theory of bureaucracy, and various game-theoretic concepts such as strategic moves and commitment devices. Where applicable, lessons from closely related fields such as management are also provided. This book is ideal reading for students of economics looking for an approachable route to understanding basic principles of economics and game theory. It is also accessible to amateur and professional historians, and any reader interested in popular culture as it relates to television, movies, and military history.

Following German reunification in 1990, East Germany's centrally planned economy was abolished and replaced by West Germany's social market economy. Western Germany has since provided vast financial support to aid the transformation, and enable eastern Germany to catch-up with western Germany's productivity and living standards. This book evaluates the main events and their outcomes since mid-1990 and the associated policy issues. The authors assess the medium to long term growth prospects of eastern Germany and the wider implications for western Germany and Europe.The Economics of German Unification analyses the economic process of assimilating eastern Germany into the institutions and performance levels of western Germany. It includes original research as well as providing an overview of existing literature. Among the topics discussed are: the relative backwardness of East Germany's economy the impact of monetary and economic integration restructuring and privatization <>li>labour market and industrial policy, including an analysis of wage restraint and cost reduction the prospects for eastern Germany catching-up economically with western Germany the repercussions for German competitiveness nationally and within the wider European context This book will be welcomed by academics, researchers and undergraduates interested in the economics of transition, comparative economic systems, political economy and the European business environment.

In the last three decades since the fall of the Berlin Wall, there has been a vast amount of study looking at transforming the planned economy to a market economy from both theoretical and empirical aspects. This book provides an overview and insight into transition economies in the recent decades and looks at key economics topics from the so-called "transition strategy debate" to environmental reform. The book also includes an analytical review and meta-analysis of the existing literature. By integrating theoretical discussions and synthesizing empirical findings in a systematic manner, this book may help to enlighten the debate on the timing, speed, and policy sequence of economic transition. The book will particularly appeal to researchers, policy makers, other practitioners, and under- and post-graduate students who are interested in transition economies in Eastern Europe, the former Soviet Union, Southeast Asia, and China. It aims to be read as an advanced reader.

Cost Structure and the Measurement of Economic Performance is designed to provide a comprehensive guide for students, researchers or consultants who wish to model, construct, interpret, and use economic performance measures. The topical emphasis is on productivity growth and its dependence on the cost structure. The methodological focus is on application of the tools of economic analysis - the `thinking structure' provided by microeconomic theory - to measure technological or cost structure, and link it with market and regulatory structure. This provides a rich basis for evaluation of economic performance and its determinants. The format of the book stresses topics or questions of interest rather than the theoretical tools for analysis. Traditional productivity growth modeling and measurement practices that result in a productivity residual often called the `measure of our ignorance' are initially overviewed, and then the different aspects of technological, market and regulatory structure that might underlie this residual are explored. The ultimate goal is to decompose or explain the residual, by modeling and measuring a multitude of impacts that determine the economic performance of firms, sectors, and economies. The chapters are organized with three broad goals in mind. The first is to introduce the overall ideas involved in economic performance measurement and traditional productivity growth analysis. Issues associated with different types of (short and long run, internal and external) cost economies, market and regulatory impacts, and other general cost efficiencies that might impact these measures are then explored. Finally, some of the theoretical, data construction and econometric tools necessary to justify and implement these models are emphasized.

The spectacular economic growth experienced by China since 1978 has often been hailed as the "China Miracle". Many economists have tried to understand the forces behind China's phenomenal growth and the explanations can be divided into two broad schools of economic thought - one school of thought which includes Nobel Laureate Paul Krugman explains that market mechanism and deregulation led to China's success, while the other school of thought which include Justin Yifu Lin, the former Chief Economist and Senior Vice-President of the World Bank, explains that China's growth miracle is a unique model to itself defined by the Chinese government's prominent role. The Chinese government has been responsible in identifying and investing in industries that have contributed to economic growth. Some economists in the latter school even claim that the China Miracle cannot be explained by mainstream economics. This book examines both schools of thought and attempts to provide a synthesis of the two schools to explain the China Miracle. It looks at the Solow-Swan growth model, the Harrod-Domar model and transaction cost theory. It provides insights into whether and how China can sustain its growth and how developing countries may replicate China's success.

Why Delegate? moves beyond the standard economic accounts of delegation to offer a fresh take on a wide variety of issues and shows how essential the act of delegating is to our society. From mundane tasks like choosing a plumber to weightier ones like running a country, the world turns on delegation. We delegate particular tasks to people we believe have more expertise than we do. When it is successful, delegation improves efficiency, expands the range of responsible actors, and even increases happiness. When delegation fails, though, it brings conflict, corruption, and an absence of accountability. In Why Delegate?, Neil J. Mitchell investigates the incentives to delegate and the risks we take in doing so. He demonstrates how a new, modified understanding of the simple structure of the delegation relationship-the principal-agent relationship, as economists have described it-simplifies a myriad of important and seemingly disparate problems in private and public life. Using real-world case studies including child abuse in the Catholic Church, the Volkswagen pollution scandal, and FIFA corruption, Mitchell illustrates the broad functionality of delegation logic and the wide range of incentives at work in these relationships. Diverse examples reveal the opportunism of both the leaders and the led and show how accepted accounts of the principal-agent relationship are incomplete. By drawing on multidisciplinary research to address complex questions of motivation, control, responsibility, and accountability, the book builds a broader, more useful logic of delegation. Why Delegate? moves beyond the standard economic accounts of delegation to offer a fresh take on a wide variety of issues and shows how essential the act of delegating is to our society. Mitchell's comprehensive account of the contexts, causes, and effects of delegation develops a new way to understand both the theory and practice of this critical relationship.

This book is unique among modern contributions to behavioral economics in presenting a grand synthesis between the kind of behavioral economics popularized by Richard Thaler, earlier approaches such as those of the 1978 Nobel Laureate Herbert Simon, evolutionary psychology, and evolutionary economics from Veblen and Marshall through to neo-Schumpeterian thinking. The synthesis employs a complex adaptive systems approach to how people think, the lifestyles they build, and how new production technologies and products are gradually adopted and produce changes. Using a huge range of examples, it takes behavioral economics from its recent focus on 'nudging' consumers, to the behavior of firms and other organizations, the challenges of achieving structural change and transitioning to environmentally sustainable lifestyles, and instability of the financial system. This book will be of great interest to academics and graduate students who seek a broader view of what behavioral economics is and what it might become.