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.

Japan's economy is invariably seen as a prime example of a capitalist system, and a consideration of the elements upon which the Japanese economy is founded seems to lead inexorably to the conclusion that Japan is an established member of the group of highly developed capitalist nations. Yet a country's internal mechanisms can differ markedly from the system as perceived externally. Although not yet widely recognized, a new kind of economic system has developed in Japan, a system that differs greatly from traditional capitalism. The author of this book has observed Japanese industry from the inside. He provides detailed explanations of the unique features of the new corporate system and how it differs from the system of orthodox capitalistic corporations.

Air Transport Networks provides an economic analysis of the way in which the air transport industry operates and the nature of the policies that have been adopted to regulate the sector. The book covers domestic and international air transportation with an emphasis on airlines and includes discussions of related markets such as airports and air traffic control. The authors provide details of how the sector functions and the reasons why the airline industry performs as it does today and explore the ways in which governments have, over the years, attempted to manipulate air transport markets to meet political objectives. This volume will be warmly received by those interested in the operations and the influences that public policy has on the air transport sector. Air Transport Networks will also appeal to policymakers and to those working in the air transportation sector.

Economists have entered into the realm of sports to provide what they believe to be more cogent explanations for sport-related behaviour and to suggest ways in which incentives can improve sports outcomes. But prices and income, the traditional workhorses of conventional economics, can only provide partial explanations and understandings. Drawing on a bounded rationality approach to behavioural economics, this book demonstrates the analytical insights to be gained by supplementing the conventional economics toolbox with psychological, cognitive, sociological, and institutional factors. The international cast list of contributors cover a wide range of sports topics on which a behavioural approach can reveal new insights. These include preferences, managerial, efficiency, choking, doping, favouritism, athlete well- being, and spectator behaviour. Throughout the book, there is an emphasis on the cognitive limits to smart decision-making as well as the critical role played by the decision-making environment. This volume demonstrates that adopting a bounded rationality approach, complimented with other behaviouralist approaches, helps to better explain sport-related behavioural, sub-optimal behavioural, and market failures. It also provides insights that could be used to improve sports outcomes and the well-being of those involved in sports and to better configure policy to enhance sports performance. This groundbreaking book will be an indispensable reference to students and scholars of sports economics, sports management, and sports science.

Traditional microeconomic theory has much to offer a manager. It suggests ways to increase profits by setting prices and packaging services, using advertising to increase demand and shows how internet auction sites like eBay affect competition and profitability. By using game theory to present and solve a manager's decision-making problems and by focusing on the strategic nature of these problems, this text makes microeconomic theory much more intuitive and relevant for the business student.

The text is separated into four sections:

• basic microeconomic theory of the firm and the basic tools of game theory
• problems related to the strategic interaction between firms, including price and quantity competition and product differentiation
• issues arising from strategic interactions within the firm, including vertical and horizontal integration, training and motivating workers, and labour unions
• marketing economics including information problems, advertising, durable goods and the product life cycle.

This book will be suitable for any student with a background of introductory economics. The authors include a variety of international examples and case studies from the business world to expand and illustrate key concepts, and provide end-of-chapter exercises to test students? grasp of the material. An online supplement comprising of problems and solutions as well as PowerPoint slides is available for lecturers.

Upon its publication in 1989, this was the first systematic and comprehensive analysis of the Latin American School of Development and an invaluable guide to the major Third World contribution to development theory. The four major strands in the work of Latin American Theorists are: structuralism, internal colonialism, marginality and dependency. Exploring all four in detail, and the interconnections between them, Cristobal Kay highlights the developed worlda (TM)s over-reliance on, and partial knowledge of, dependency theory in its approach to development issues, and analyses the first major challenges to neo-classical and modernisation theories from the Third World.

State and Local Public Finance provides a comprehensive and sophisticated analysis of state and local government public finance practices and issues, using the basic tools of economics. This fifth edition maintains its focus on key local services such as education, health care, and transportation and brings in new coverage of land use and housing, applications from behavioral economics, and more international comparisons. This textbook provides an examination and analysis of public finance practices and problems in a federal fiscal system, focusing on the fiscal behavior and policies of state and local governments. Modern economic theory is applied to examine the way key institutions are used to produce and finance services and to provide evaluation of alternative policies. This stalwart text will continue to be invaluable reading for those who study public finance, local government finance, urban economics, public policy, and public administration.

This important survey, first published in 1981, presents some different and often contending perceptions of the problem of surplus capacity as it re-emerged in the world of the 1980s an economic climate with many parallels to the current era. Susan Strange and Roger Tooze deliberately assembled writers of many different nationalities, professional backgrounds and ideological convictions and asked them to make the case for their version of the problem. Some even doubt if there really is much of a problem at all. Others see it as fundamentally political, or monetary; as inherent in the capitalist system, or as the product of short-sighted pressure groups and perverse politicians. To help readers judge for themselves, there are specialist contributions on surplus capacity as it has shown up in different sectors of the world economy shipbuilding, textiles, steel, petrochemicals, insurance and banking and on the responses of different actors in the international system, including the European Community and multinational corporations.

Microeconomics is concerned with the production, consumption and distribution of goods by the micro units of individuals, firms and markets within the economy. It can also be considered a study of scarcity and the choices to be made for the attainment of goals within constraints. These goals are those set by consumers, producers and policy makers in the market.

This book provides a brand new approach to the teaching and study of microeconomics ? an elementary guide to the fundamental principles of the subject. It gives students from all parts of the world the opportunity to understand and appreciate the value of microeconomic tools and concepts for analyzing market processes in their economic environment, as well as maintaining a perspective on issues of trade and competitiveness, thus drawing attention to the relevance of microeconomic theory beyond the domestic scene to issues of trade and competitiveness on the international arena.

The book contains a wealth of international case studies and covers topics such as:

- elasticity

- Cobb-Douglas Production functions

- dynamic stability of market equilibrium

- monopolies and monopolistic competition

- project analysis

The perfect introduction to the building blocks of contemporary microeconomic theory, this book will be of interest to undergraduate students in international economics, industrial economics, managerial economics and agricultural economics. It will also be a useful reference guide for graduates requiring a break down of difficult microeconomic principles.

A central concern of economics is how society allocates its resources. Modern economies rely on two institutions to allocate: markets and governments. But how much of the allocating should be performed by markets and how much by governments? This collection of readings will help students appreciate the power of the market. It supplements theoretical explanations of how markets work with concrete examples, addresses questions about whether markets actually work well and offers evidence that supposed "market failures" are not as serious as claimed.

Featuring readings from Hayek, William Baumol, Harold Demsetz, Daniel Fischel and Edward Lazear, Benjamin Klein and Keith B. Leffler, Stanley J. Liebowitz and Stephen E. Margolis, and John R. Lott, Jr., this book covers key topics such as:

? Why markets are efficient allocators

? How markets foster economic growth

? Property rights

? How markets choose standards

? Asymmetric Information

? Whether firms abuse their power

? Non-excludable goods

? Monopolies

The selections should be comprehended by undergraduate students who have had an introductory course in economics. This reader can also be used as a supplement for courses in intermediate microeconomics, industrial organization, business and government, law and economics, and public policy.

Capitalism and Inequality rejects the popular view that attributes the recent surge in inequality to a failure of market institutions. Bringing together new and original research from established scholars, it analyzes the inequality inherent in a free market from an economic and historical perspective. In the process, the question of whether the recent increase in inequality is the result of crony capitalism and government intervention is explored in depth. The book features sections on theoretical perspectives on inequality, the political economy of inequality, and the measurement of inequality. Chapters explore several key questions such as the difference between the effects of market-driven inequality and the inequality caused by government intervention; how the inequality created by regulation affects those who are less well-off; and whether the economic growth that accompanies market-driven inequality always benefits an elite minority while leaving the vast majority behind. The main policy conclusions that emerge from this analysis depart from those that are currently popular. The authors in this book argue that increasing the role of markets and reducing the extent of regulation is the best way to lower inequality while ensuring greater material well-being for all sections of society. This key text makes an invaluable contribution to the literature on inequality and markets and is essential reading for students, scholars, and policymakers.

Most scholars agree that during the sixteenth century, the centre of European international trade shifted from Antwerp to Amsterdam, presaging the economic rise of the Dutch Republic in the following century. Traditionally this shift has been accepted as the natural consequence of a dynamic and progressive city, such as Amsterdam, taking advantage of expanding commercial opportunities at the expense of a more conservative rival hampered by outmoded medieval practices. Yet, whilst this theory is widely accepted, is it accurate? In this groundbreaking study, Cle Lesger argues that the shift of commercial power from Antwerp to Amsterdam was by no means inevitable, and that the highly specialized economy of the Low Countries was more than capable of adapting to the changing needs of international trade. It was only when the Dutch Revolt and military campaigns literally divided the Low Countries into separate states that the existing stable spatial economy and port system fell apart, and a restructuring was needed. Within this process of restructuring the port of Amsterdam acquired a function radically different to the one it had prior to the division of the Netherlands. Before the Revolt it had served as the northern outport in a gateway system centred on Antwerp, but with access of that port now denied to the new republic, Amsterdam developed as the main centre for Dutch shipping, trade and - crucially - the exchange of information. Drawing on a wide variety of neglected archival collections (including those of the Bank of Amsterdam), this study not only addresses specific historical questions concerning the commercial life of the Low Countries, but through the case study of Amsterdam, also explores wider issues of early modern European commercial trade and economic development.

This authoritative book, bringing together the reports of the Competitiveness Advisory Group, identifies actions to improve European competitiveness politically, economically and socially. The objective is to raise living standards and maintain social cohesion. The Competitiveness Advisory Group has the mission of advising the European Commission and the Heads of State and Government of the European Union. The members of this independent group, which includes leading industrialists, trade unionists, politicians and academics, have adopted a 'bottom-up' approach, seeking to draw lessons from the experience of countries, industries and firms: they rely on 'benchmarking' in order to identify best practice. In the context of increasing interdependence of world trade and consequent globalization of the international economy new policy prescriptions are required for growth and employment, greater efficiency and higher standards of living. In relation to this, the Group discusses the need to close the worldwide technology gap, for Europe to develop deeper relations with the fast growing Asia Pacific region and argues for greater European solidarity in international trade negotiations. Within the European Union itself, it emphasizes the need to achieve the internal market for the free flow of goods, services and people. In addition, it stresses that Europe needs to catch-up, construct and eventually lead the development of the information society in which workers are recognized as a major asset to be invested in. The Group concludes that, although unemployment remains high, European competitiveness now has a brighter future with the movement towards economic and monetary union, and the enlargement of the European Union eastwards. This book will be essential reading for policymakers, government advisers, industrialists and academics concerned with the future of European economies and societies.

Discover an exceptionally clear, concise introduction to microeconomics using an approach that avoids high-level mathematics but still offers meaningful practice with Nicholson/Snyder's INTERMEDIATE MICROECONOMICS AND ITS APPLICATION, 13E. These prestigious authors present the economics of markets using a managerial focus and a variety of approaches, including intuitive illustrations, graphical presentations and some simple algebra. A wealth of relevant applications and current examples demonstrate microeconomics at work in a variety of settings. In addition, updated step-by-step video problems and engaging activities allow you to learn by doing. This edition's full-color revisions explain the latest developments and events, including the economic impact of the COVID pandemic. New MindTap online resources are also available to further strengthen your mastery of microeconomic concepts.

Economic growth is generally regarded by governments and most ordinary people as a panacea for all problems, including issues caused by the COVID pandemic. But this raises an important question: is further growth in advanced economies able to increase well-being once people's basic subsistence needs are met? Some advanced market economies, e.g. the United States, have exhibited a decline in well-being, both subjectively and objectively measured, over several decades despite seeing economic growth during the same period. This book provides an original and comprehensive explanation: economic growth, as driven by market forces, induces people, through both the demand- and supply-side channels, to pursue command over more material resources, and this weakens the self-generation of capabilities, putting well-being at risk of deterioration. The book argues, with the support of a variety of evidence, that the challenge can be overcome if governments' policies and people's choices pursue, as their ultimate goal, 'fundamental human development' on an evolutionary basis: the development of the capability of a typical person to conceive and share with others new purposes, to pursue them individually or collectively, and thus to contribute to building human culture. If such human development is prioritised, it makes people satisfied with their lives and resistant to adverse shocks, and it can even shape the pattern of economic growth. By contrast, if economic growth is prioritised, it tends to weaken and impoverish fundamental human development, and consequently people's well-being and social cohesion. With this volume, readers will find an answer to a problem that is both urgent and long-term, both individual and societal. The work makes a substantial contribution to the literature on wellbeing, the economics of happiness, human capital and growth, and the capability approach.

This is a major study of economic policy making in Britain between the wars. It provided the first full-length analysis of the early development of fiscal policy as a tool of modern economic management. The central question addressed is how Keynesian fiscal policies came to be adopted by the British government, with particular attention paid to the role of the Treasury and to that of Keynes himself.
Drawing extensively on unpublished documents hitherto untapped by economists or historians, Roger Middleton challenges the widely held view of official economic thinking as an ill-informed group of people holding the Treasury view in opposition to Keyness prescriptions for deficient demand and mass unemployment. Instead he argues that acceptance of Keynesian economics during the Second World War resulted from political and administrative factors as much as a conversion to Keynesian theory. He investigates the form and impact of fiscal policy during the 1930s and, through a constant employment budget analysis, shows convincingly that at times of rising unemployment governments ignore at their peril the effects of automatic stabilizers upon budgetary stability.
Historians and economists welcomed this fresh perspective on a debate of historical as well as contemporary importance. Towards the Managed Economy is essential reading for all those interested in the rise and fall of Keynesian demand management. This classic text was first published in 1985.

Intermediate Microeconomics: A Tool-Building Approach is a clear and concise calculus-based exposition of current microeconomic theory that is essential for students pursuing degrees in economics or business. The second edition explicitly incorporates constrained optimization techniques. This beautifully presented and accessible text covers all the essential topics typically required at the intermediate level, from consumer and producer theory to the market structures of perfect competition, monopoly, duopoly, and oligopoly. Other topics include general equilibrium, risk, and game theory, as well as chapters on externalities, asymmetric information, and public goods. Through numerical examples as well as exercises, the book aims to teach microeconomic theory via a process of learning-by-doing. When there is a skill to be acquired, a list of steps outlining the procedure is provided, followed by an example to illustrate how this procedure is carried out. Once learned, students will be able to solve similar problems and be well on their way to mastering the skills needed for future study. Intermediate Microeconomics presents a large amount of material in a concise way, without sacrificing rigor or clarity of exposition. Through use of this text, students will acquire both the analytical toolkit and theoretical foundation necessary in order to take upper-level field courses in economics, such as industrial organization, international trade, and public finance.

The aim of the book is to highlight the law and economics issues confronting civil law countries. The following questions are addressed in this volume: to what extent have the existing codes in civil law countries been designed to incorporate economic considerations? Can the modifications made to codified rules over time be explained by a will to react to new economic constraints? Which economic problems are at the root of the revision of codes? And, given that the code is not the only source of law in civil law countries, the volume also explores the relationship between law and economics in the context of both the legislature and the courts.

This book provides a set of critical perspectives on the economic crises of 2000-1 focusing on both the origins and consequences of the crises. Attention is drawn to the role of domestic actors as well as key external actors such as the International Monetary Fund in precipitating the twin crises.
A major objective of the book is to assess the prospects for the future and the authors try to tackle the challenging of whether the twin crises constitute a radical turning point in the Turkish experiment with neo-liberal reforms question from a variety of different perspectives.

Contents:
Chapter 1. Introduction. The Nature of Development Control. Forms of Control. Actors in the Process. The Themes of the Book. Chapter 2: The Origins of Development Control. Medieval Controls. The Development of Markets in Land and the Necessity of Landlord Control. The Extension of Public Controls. Leasehold Agreements and their Efforts. The Privatization of Public Control. The Administration of Control in the 17th and 18th Centuries. Chapter 3: The Failure of Leasehold Control and the Rise of Public Intervention. The Failure of the Leasehold System. Leasehold Reform. By-Law Control and the Extension of Public Control. The Weakness of By-Law Regulation. Chapter 4: Development Control in the Early Planning System. The 1909 Act: Control in the First Planning Schemes. Compensation and Betterment. The Maturing of the System in the 1920s. Circular 1305. Control Over Land-Use. The 1932 Act and Interim Development Control. Discretionary Power. Chapter 5: The 1947 Act: Universal Control of Development. The Purpose of Development Control in the 1947 act. The Nationalization of Development Rights. Compensation and Betterment. Development Control in the 1950s and 1960s. The Reform of the Development Plans System. The 1967 Management Study of Development Control. Chapter 6: The Call for Reforms: Development Control in the 1970s. Property Speculation 1970-73 and its Impact on Development Control. The Dobry Report. The 8th Report of the Expenditure Committee. Chapter 7: Development Control Under the Conservatives. Planning Control and Deregulation. Limiting Local Authority Power. Development Control in the Service of Economic Development. Local and National Policy: Plans v. Government Circulars. Planning Gain. Design Control. Development in the Green Belt. Chapter 8: Development Control in the 1990s: a Plan-Led System? The Planning and Compensation Acts and its Effects. Planning Obligations. The Role of Plans in Development Control. Chapter 9: Conclusion: The Future of Development Control. The Strengths and Weaknesses of British Development Control. Future Directions.

Written during the Second World War against the background of the economic and political futility of the 1930s, this book deals with the changing role of government, and particularly fiscal policy as an instrument for regulating the national income and its distribution. Arguing that the war had an economic basis - the inability of the great industrial nations to provide full employment at rising standards of real income - the book discusses how the failure to achieve a world order in the political sphere must be sought in the facts of economic frustration.

Summarizing the facts about the prevailing sizes of industrial firms or plants and the patterns of industrial location in Britain and America, this text also interprets the facts in basic terms such as technical requirements and consumer habits. Examining investment and human resource management, the contrasts and (unexpected) similarities in the industrial structure and government of the two countries are analysed. The book includes new research into the real seat of power in the British joint stock company and compares the results with the realities of the American corporation.

"The Logic of Industrial Organization" discusses key themes in industrial relations, manufacturing, employment and investment and education for business administration. The book contains chapters on: the structure of industry; the efficiency of large-scale operation; planned and free consumption; forecasting and market research; competition; rationalization and nationalization; investment and employment; incentives to work and mobility; and stimulus to enterprise and administration.

This book is a key example of the emergence of public choice theory by an economist who was to become one of its major exponents. It combines a detailed, critical study of the Monopolies Commission, with an analysis of the economic issues involved in monopoly supervision and control.