Around the third millennium B.C. in the Fertile Crescent, a world-system with a single world-economy, covering very vast regions, began to form. Mesopotamia became the center of this world-system. This was possible due to the development of common commercial law and logical competence there. The expansion of the world-economy during the Silk Road period from the 4th century B.C. to the early 5th century A.D. across various countries of Eurasia was accompanied by the spread of logical competence, first formed in Mesopotamia, as a mechanism of legal hermeneutics to draw logical conclusions without fallacies. This competence was simultaneously comprehended in different cultures connected by the Great Silk Road - in ancient Greek logic (4th - 2nd centuries B.C.); ancient Chinese proto-logic (5th - 2nd centuries B.C.); Judaic logical hermeneutics (1st - 2nd centuries A.D.); and in Indian-Buddhist logic (2nd - 6th centuries A.D.). The book analyzes the emergence of logic and its spread and early forms of its reflection. Consequently, logical competence is seen not as an innate ability, but as a social practice first established in Mesopotamia. Logic as a science became possible only after the development of logical competence as an accepted social practice. On the other hand, this view is a non-Marxist assessment of the early form of the world-system, centered on international law and logical competence, which made the world-economy and international trade then possible.

The book presents a collective action perspective to explain how extraterritoriality functions and assess when, and to what extent, extraterritoriality is effective. A collective action perspective provides a new account of foreign anti-bribery laws and their extraterritorial enforcement that draws on theories discussed in the field of economic governance. Within this framework, the book offers an intensive analysis of US foreign anti-bribery law such as the Foreign Corrupt Practices Act (FCPA), international law as it emanates from the OECD Anti-Bribery Convention, and comparative insights into UK law and German law. To test the theory in practice, the book provides a unique data set of more than 40 foreign anti-bribery enforcement actions conducted by the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), and other examples from comparative jurisdictions. Extraterritoriality and International Bribery is ideal reading for academics and students with an interest in global governance, economic crime, criminology, and law and economics, as well as practitioners concerned with foreign anti-bribery enforcement, including compliance officers, lawyers, investigating and prosecuting authorities, and business leaders. The book also discusses governance alternatives existing outside international anti-bribery law and offers policy and legal reforms proposals. The book suggests a decentralized enforcement model with the delegation of some enforcement tasks to an external body as the most appropriate governance alternative.

Motivated people are crucial to create a sustainable competitive advantage for your company. Successful Management by Motivation shows that in a knowledge-based society, this goal cannot be achieved by extrinsic motivation alone. Pay for performance often even hurts because it crowds out intrinsic motivation like work morale. To succeed, companies have to find ways of fostering and sustaining intrinsic motivation. With the help of in-depth case studies, representative surveys, and analyses based on a large number of firms and employees, this joint work of business researchers and economists identifies the various aspects of motivation in companies and shows how the right combination of intrinsic and extrinsic motivation can be achieved.

Economists advise that the law should seek efficiency. More recently, it has been suggested that common law systems are more conducive of economic growth than code-based civil law systems. This book argues that there is no theory to support such statements and provides evidence that rejects a 'one-size-fits-all' approach. Both common law and civil law systems are reviewed to debunk the relationship between the efficiency of the common law hypothesis and the alleged inferiority of codified law systems. Legal Origins and the Efficiency Dilemma has six aims: explaining the efficiency hypothesis of the common law since Posner's 1973 book; summarizing the legal origins theory in the context of economic growth; debunking their relationship; discussing the meaning of 'common law' and the problems with the efficiency hypothesis by comparing laws across English speaking jurisdictions; illustrating the shortcomings of the legal origins theory with a comparative law and economics analysis; and concluding there is no theory and evidence to support the economic superiority of common law systems. Based on previous pieces by the authors, this book expands their work by including new areas of analysis (such as trusts), detailing previous analysis (such as French law versus common law in the areas of contract, property and torts), and updating for recent developments in the academic discourse. This volume is of interest to academics and students who study microeconomics, comparative law and foundations of law, as well as legal policy analysts.

This book provides a rigorous course to the theory of intermediate microeconomics. It includes not only the basic traditional theory, but also a "From the Literature" box in each chapter directing students to applications of the theory. The theory is developed axiomatically, with optional sections using one-variable calculus included for interested readers. A substantial number of homework problems are also interspersed throughout the text. Covering the essential topics of microeconomics, this book is highly suitable for a one-term class in microeconomics at the intermediate level.

Auction theory is now an important component of an economist's training. The techniques and insights gained from the study of auction theory provide a useful starting point for those who want to venture into the economics of information, mechanism design, and regulatory economics. This book provides a step-by-step, self-contained treatment of the theory of auctions. It allows students and readers with a calculus background to work through all the basic results, covering the basic independent-private-model; the effects of introducing correlation in valuations on equilibrium behaviour and the seller's expected revenue; mechanism design; and the theory of multi-object auctions.

In Borrowing Together, Becky Hsu examines the social aspects of the most intriguing element of group-lending microfinance: social collateral. She investigates the details of the social relationships among fellow borrowers and between borrowers and lenders, finding that these relationships are the key that explains the outcomes in rural China. People access money through their social networks, but they also do the opposite: cultivate their social relationships by moving money. Hsu not only looks closely at what transpired in the course of a microfinance intervention, but also reverses the gaze to examine the expectations that brought the program to the site in the first place. Hsu explains why microfinance's 'articles of faith' failed to comprehend the influence of longstanding relationships and the component of morality, and how they raise doubts - not only about microfinance - but also about the larger goals of development research.

This thoroughly accessible textbook shows students how microeconomic theory can be used and applied to major issues of public policy. In this way, it will improve their understanding of both microeconomic theory and policy and also develop their ability to critically assess them. >Clem Tisdell and Keith Hartley have expanded upon their previous successful work on microeconomics. As a result, this new book is considerably updated with substantial chapter revisions, as well as new chapters dealing with business management, ownership, environmental issues, public choice, defence, conflict and terrorism. Promoting a thorough understanding of this complex yet fundamental topic, Microeconomic Policy: A New Perspective will undoubtedly prove an invaluable textbook for all students, academics and researchers of economics and public policy.

This book is about the applicability of the high seas regime in the exclusive economic zone (EEZ). It analyses all the relevant provisions of the United Nations Convention on the Law of the Sea (UNCLOS) and goes in depth about the very interesting and complex relationship that exists between the high seas and the EEZ. This book examines three cardinal freedoms of the sea: freedom of navigation, freedom of overflight, and freedom to lay submarine cables and pipelines.

The Tender Bud is the moving story of one woman's journey through breast cancer. The woman in question happens to be a senior psychiatrist of broad learning and deep clinical insight. Madeleine Meldin weathered the crisis of breast cancer without the support of an immediate family and in the context of ongoing professional burdens. This book is the journal that she wrote for herself as an aid to coping with the personal upheaval of diagnosis, mastectomy, and the aftermath of treatment. It was written while these events unfolded. With arresting candor, Meldin chronicles her emotions at each stage of her odyssey - the recurrent cycles of denial, anxiety, and despair; the conflicting feelings engendered by her physicians, surgeons, and the treatment "establishment" in general; her struggle between resignation and emergent hopefulness. Unique to Meldin's account is her ongoing juxtaposition of the different dimensions of "having cancer." Simply and gracefully, she chronicles the everyday dimension of cancer, with its obligation to proceed maturely and dispassionately with medical and surgical care, to meet one's professional responsibilities, to maintain the appearances that allow one to carry on with one's life. Meldin excels at showing how even the most mundane experiences of everyday life - conversations with friends and colleagues, the selection of clothes, a trip to the hairdresser - became saturated with her illness, with her sense of herself as a cancer patient.

When should government intervene in market activity and when is it best to let market forces take their natural course? How does the existing empirical evidence about government performance guide our answers to these questions? In this clear, concise book, Clifford Winston offers his innovative analysis -shaped by thirty years of evidence -to assess the efficacy of government interventions. Markets fail when it is possible to make one person better off without making someone else worse off, thus indicating inefficiency. Governments fail when an intervention is unwarranted because markets are performing well or when the intervention fails to correct a market problem efficiently. Winston concludes from existing research that the cost of government failure may actually be considerably greater than the cost of market failure: "My search of the evidence is not limited to policy failures. I will report success stories, but few of them emerged from my search." The prevalence of market failure is due to a lack of conviction in favor of markets, the inflexibility of intervening government agencies, and political forces that enable certain interest groups to benefit at the expense of society as a whole. Winston suggests that government policy can be improved by making greater use of market-oriented solutions that have already produced benefits in certain situations.

This book discusses women-oriented microfinance initiatives in India and their articulation vis-is state developmentalism and contemporary neo-liberal capitalism. It examines how these initiatives encourage economically disadvantaged rural women to make claims upon state-provided microcredit and connect with multiple state institutions and agencie

This is a standard text for upper level undergraduate/postgraduate microeconomics. The book begins at the intermediate level and ends at a level appropriate for the graduate student. Updated and revised, this is a new edition of one of the best-selling advanced microeconomics texts to be published in Europe. This well informed book provides a comprehensive exposition of modern microeconomic theory, covering many of the issues currently being researched and debated. The book offers very rigorous, mathematical treatment of the topics discussed making it appropriate for graduate as well as able intermediate level students. The writing style is clear and concise and the book is particularly liked for the thoroughness with which the concepts are dealt.

Written by leading experts in the field of business, finance, law and economics, this edited volume brings together the latest thoughts and developments on turnaround management and business rescue from an academic, judiciary and turnaround/insolvency practitioner perspective. Turnaround Management and Bankruptcy presents different viewpoints on turnarounds and business rescue in Europe. Presenting a state-of-the-art review of failure research in finance, such as on bankruptcy prediction, causes of decline, or distressed asset valuation. It also presents the latest insights from turnaround management research as well as giving a contemporary insight into law debates on insolvency legislation reform, cross-border judicial issues, bankruptcy decision-making by judges and competition policy in distressed economies. Finally, the book provides a regional and sector perspective on how the current crisis affects Europe, its government policies and industry performance. In this way, the volume presents a modern, interdisciplinary and scholarly overview of the latest insights, issues and debates in turnaround management and business rescue, developing a European perspective in an attempt to redress the predominance of an American orientation in the academic literature. It aims at a wider audience interested in turnarounds and failure, such as faculty and students in the fields of law, business, economics, accountancy, finance, strategic management, and marketing, but also at judges, insolvency practitioners, lawyers, accountants and turnaround professionals, as well as the EU and government officials, staff of trade unions and employer's associations.

Health, The Medical Profession, and Regulation presents new evidence concerning health and the environment, inequality of health in many countries, and the compatibility of different quality of life measurements, along with new solutions to problems of health policy. The book is grouped into three sections. Section I, comprising six papers, looks into the determinants of people's health. Section II consists of three papers and deals with the supply side of the market for health care services. Finally, Section III contains three contributions devoted to health regulation. The intended market for this volume includes, but is not limited to, health economists, policy makers, insurers, and governmental advisors who need to stay abreast of the latest developments in health services research worldwide.

"Microeconomic Theory Old and New: A Student's Guide" has two main goals. The first is to give advanced undergraduate and graduate students an understanding of the core model of economics: Walrasian general equilibrium theory. The text presents in detail the three building blocks of Walrasian theory--establishing Pareto efficiency in a barter economy, establishing the efficiency of competitive markets, and accounting for market failure. Each is discussed verbally, graphically, and using mathematics. After reading this book, students will have an understanding of how the seemingly disparate pieces of conventional economics fit together as a system. Although the text focuses on the intellectual framework of standard economic theory, relevant mathematical techniques are discussed.
The second goal is to present contemporary extensions and emerging alternatives to the Walrasian model. Some of the theoretical inconsistencies in the model are presented, drawing on the work of Samuelson, Boadway, Chipman and Moore, Ng, and Suzamura, among others. The text then presents challenges to the basic assumptions of the Walrasian system, posed by findings in behavioral economics and evolutionary game theory.
Understanding both the Walrasian system and the theoretical and experimental critiques of classical economics is essential to those who ultimately work within the traditional framework and to those looking for an alternative, making this a must read for all students of economics.

The second edition of Behavioral Economics: The Basics summarizes behavioral economics, which uses insights from the social sciences, especially psychology, to explain real-world economic behavior. Behavioral economic insights are routinely used not only to understand the choices people make but also to influence them, whether the aim is to enable citizens to lead healthier and wealthier lives, or to turn browsers into buyers. Revised and updated throughout with fresh current-event examples, Behavioral Economics: The Basics provides a rigorous yet accessible overview of the field that attempts to uncover the psychological processes which mediate all the economic judgements and decisions we make. The book showcases how behavioral economics is rooted in some now-old (philosophical, political, and moral) ideas surrounding economics, and in an important sense is a modern expression of some long-standing criticisms of mainstream economics. It contrasts the neoclassical economic perspective (ECON) with a more realistic perspective (HUMAN – the flesh-and-blood economic agent who is not perfect in all respects but who manages to do the best under limitations and constraints). This is a comprehensive overview of the whole field, covering all the main areas, presented in a rigorous yet accessible form. It should especially appeal to students, those with an interest in applying behavioral economic knowledge in their professional life, and anyone who wants to know how they are being influenced every day of their lives by (usually unseen) behavioral insights.

This monograph provides a coherent and systematic explanation of China's regional economic development from the perspective of regional government competition. It gives an almost unknown exposition of the mechanisms of China's regional economic development, with numerous supporting cases drawn from both China and elsewhere. This book is an invaluable resource for anyone interested to learn more particularly the development and transformation of China's regional economy from both the Chinese and global perspectives.

The first book in this important new series, under the general editorship of Nobel Laureate Robert Solow, Institutions, Innovation and Growth assembles a stellar cast of international contributors. Leading economists join the debate on innovation and economic growth, focussing on a broad spectrum of issues ranging from labour markets to corporate governance. Growth paths within the OECD are also assessed, with particular emphasis on contrasts between US and European models. The book seeks to identify those institutional factors, taking into account different national trajectories, which might serve to promote economic growth in Europe. As with all books in this series, Institutions, Innovation and Growth offers cutting edge research that is relevant to the world in which we live. It will be essential reading for scholars, policymakers and interested readers concerned with the economic challenges facing Europe in the twenty-first century.

"Microeconomic Theory Old and New: A Student's Guide" has two main goals. The first is to give advanced undergraduate and graduate students an understanding of the core model of economics: Walrasian general equilibrium theory. The text presents in detail the three building blocks of Walrasian theory--establishing Pareto efficiency in a barter economy, establishing the efficiency of competitive markets, and accounting for market failure. Each is discussed verbally, graphically, and using mathematics. After reading this book, students will have an understanding of how the seemingly disparate pieces of conventional economics fit together as a system. Although the text focuses on the intellectual framework of standard economic theory, relevant mathematical techniques are discussed.
The second goal is to present contemporary extensions and emerging alternatives to the Walrasian model. Some of the theoretical inconsistencies in the model are presented, drawing on the work of Samuelson, Boadway, Chipman and Moore, Ng, and Suzamura, among others. The text then presents challenges to the basic assumptions of the Walrasian system, posed by findings in behavioral economics and evolutionary game theory.
Understanding both the Walrasian system and the theoretical and experimental critiques of classical economics is essential to those who ultimately work within the traditional framework and to those looking for an alternative, making this a must read for all students of economics.

Behavioural economics and behavioural finance are rapidly expanding fields that are continually growing in prominence. While orthodox economic models are built upon restrictive and simplifying assumptions about rational choice and efficient markets, behavioural economics offers a robust alternative using insights and evidence that rest more easily with our understanding of how real people think, choose and decide. This insightful textbook introduces the key concepts from this rich, interdisciplinary approach to real-world decision-making. This new edition of Behavioural Economics and Finance is a thorough extension of the first edition, including updates to the key chapters on prospect theory; heuristics and bias; time and planning; sociality and identity; bad habits; personality, moods and emotions; behavioural macroeconomics; and well-being and happiness. It also includes a number of new chapters dedicated to the themes of incentives and motivations, behavioural public policy and emotional trading. Using pedagogical features such as chapter summaries and revision questions to enhance reader engagement, this text successfully blends economic theories with cutting-edge multidisciplinary insights. This second edition will be indispensable to anyone interested in how behavioural economics and finance can inform our understanding of consumers' and businesses' decisions and choices. It will appeal especially to undergraduate and graduate students but also to academic researchers, public policy-makers and anyone interested in deepening their understanding of how economics, psychology and sociology interact in driving our everyday decision-making.

The deflationary Japanese economy is a spurious observation and a precarious political propaganda, which tacitly connects with the fanatic diagnosis urging an inflation-prompting macroeconomic policy. This book provides an overview of the prolonged stagnation of the current Japanese economy. It also examines the politico-economic implications concerning the precarious conversion of Japanese monetary policy and focuses on the vulnerability of the price-sustaining policy concerning the public debt. The book also analyzes and suggests against the acceleration of inflation under the current Japanese foreign exchange system and also suggests that the surge of foreign direct investment towards East Asia is the acute cause of Japanese economy stagnation. The book concludes that to rebuild the economic potential of the Japanese economy, education and fostering the youths are the keys. This book will definitely interest those who are keen to learn more about the relationship between Bank of Japan and the Japanese political parties.

This is an innovative collection of papers written by a panel of highly respected academics and financial experts. Whilst providing an insight into the phenomenology of the financial crises of the 1990s in Asia and Latin America, the book also explores possibilities for their solution.