Economics for an Information Age examines the central role of information within economics and society. The neoclassical economic model, taught as 'mainstream economics' in universities around the world, relies on a mathematical model of 'resource allocation' in which private advantage gives rise to public advantage in the shape of an optimal allocation of resources. However, this model assumes 'perfect information'. In the present 'information age' such an assumption is even farther from the reality than it was in the past. People disseminate and manipulate information to further their interests. This book explains economic behaviour in terms of a theory of 'money-bargaining' and political and intellectual 'support-bargaining', in which the dissemination of information plays a central role. It uses this lens to explain how information is created, manipulated, disseminated, organised, understood, interpreted, used, bought and sold. This book will be of interest to mainstream and heterodox economists alike, as well as historians of economic thought, and anyone who seeks to better understand the impact of the information age on economic behaviour.

This book brings together cutting edge contributions in the fields of international economics, micro theory, welfare economics and econometrics, with contributions from Donald R. Davis, Avinash K. Dixit, Tadashi Inoue, Ronald W. Jones, Dale W. Jorgenson, K. Rao Kadiyala, Murray C. Kemp, Kenneth M. Kletzer, Anne O. Krueger, Mukul Majumdar, Daniel McFadden, Lionel McKenzie, James R. Melvin, James C. Moore, Takashi Negishi, Yoshihiko Otani, Raymond Riezman, Paul A. Samuelson, Joaquim Silvestre and Marie Thursby.

Contents:
Preface 1. Introduction 2. International Restructuring and National Contingencies 3. Structural Forces Challenging the European National Telecommunications Regime 4. The Liberalisation, Privatisation and Regulatory Reform of Telecommunications in the UK: In Care of the Market? 5. The Liberalisation, Privatisation and Regulatory Reform of Telecommunications in the Netherlands: In Pursuit of a New Consensus? 6. The Liberalisation, Privatisation and Regulatory Reform of French Telecommunications: Still in Care of the State? 7. A Comparative Institutional Analysis of British, Dutch and French Telecommunications Policy 8. Convergence and/or Divergence in European Telecommunications Restructuring?

In this ambitious book Christian Petersen has taken a central topic in economic and social history and given it a new sweep and coherence. As the Lord's Prayer suggests, securing an adequate supply of bread was a matter of over-riding concern to everyone until very recently. Bread was always by far the largest single item in the budgets of the poor, but bread could be made from many grains - wheat, rye, barley etc. Christian Petersen describes how in the later eighteenth century the process of replacing other cereals by wheat in bread making was completed throughout Britain. He provides a continuous series of estimates of bread consumption per caput, of bread prices (and, consequently, used in conjunction with population data, of total national expenditure on bread), and of wheat output and net imports. The implications of the changes in techniques of milling and baking that occurred are analysed, and the organisation of the baking and retailing of bread is described. Bread was so central to the economy of individual households and to the national economy as a whole that this book represents a major contribution to the history of the British economy and of British society in the period 1770-1870.

This book is about the relationship between firm dynamics, innovation and globalization, the processes that are essential for long term economic growth and welfare creation. This volume deals with these three issues in three sections titled respectively: entrepreneurship, new firm formation and growth; productivity-innovation-growthnexus; globalization, multinational firms and producers' dynamics. The book presents new studies written by distinguished researchers in the field, who use state-of-the-art methodologies and extensive sources of firm- and plant-level longitudinal data to analyze and understand these major economic issues facing modern economies. In the first section, the book proposes two comprehensive introductory surveys which explore in detail the underpinnings of entrepreneurship, new firm formation and growth in advanced and developing countries. The second fundamental issue, productivity-innovation and firm dynamics, is approached by examining key drivers of selection mechanisms such as size, scale elasticity, innovative efforts, financial fragility of the firms, barriers to entry and exit, capital and financial market distortions, institutional inefficiencies and other market imperfections which affect the ability of firms to expand or enter. The third section examines differences, linkages and intertwined evolution of foreign and domestic firms in their dynamics of survival and growth in different institutional contexts and periods. Each chapter includes a detailed discussion of the implications of the respective analyses for enterprise policy. In a concluding chapter the overall implications for enterprise policy of the analyses presented in the different chapters are drawn by the Editors. This approach ensures that the book is integrated around a coherent central theme in comprehensive framework. The book responds to a growing concern among scholars, professionals, and policy makers over the recent decades about firm ability to survive and compete in a context of increasing globalization and international competition. The approach adopted is both theoretical and empirical with consideration of paradigmatic case studies in Europe, Africa and Asia, providing new evidence on developed, developing and transition economies in a comparative perspective. The cases selected represent different levels of development, different firms strategies and paths, with distinct outcomes. The book is an essential reading for scholars and students concerned with industry development, public policy and globalization, as well as to all those involved professionally in such issues.

The highly praised Western, The Good, the Bad, and the Ugly, has been used in many game-theory courses over the years and has also found its way into leading journals of this field. Using the rich material offered by this movie, alongside other elements from popular culture, literature and history, this book furthers this exploration into a fascinating area of economics. In his series of Schumpeter lectures, Manfred J. Holler uses his analysis of Sergio Leone's movie as a starting point to argue that combinations of desires, secrets and second-mover advantages trigger conflicts but also allow for conflict resolution. Many people and organizations have a desire for secrecy, and this is often motivated by a desire to create a second-mover advantage, and by undercutting the second-mover advantage of others. This book demonstrates that the interaction of these three ingredients account for a large share of social problems and failures in politics and business but, somewhat paradoxically, can also help to overcome some of the problems that result by applying one or two of them in isolation. This book has been written for curious readers who want to see the world from a different perspective and who like simple mathematics alongside story telling. Its accessible approach means that it will be of use to students and academics alike, especially all those interested in decision making, game theory, and market entry.

The Active Consumer discusses how consumers seem to delight in trying new solutions and exploring new combinatory possibilities. This book provides an economic-theoretical understanding of this phenomenon and the many ways in which innovation can structure consumer choice. The authors show from different points of view how central novelty can be in consumer behaviour, how it relates to technical change and how new consumer capabilities are developed and organized.

This volume approaches the history of Japanese-German relations from a business history perspective. Starting with an overview of Japanese-German relations which focuses on the environment, strategies and forms of inter-firm relations, Akira Kudo then uses case studies to provide a broader picture, before finally considering strategy, organizational strategy and technology and management transfer in the light of problems identified earlier. All the case studies are chosen to meet specific criteria which allow the author to move from individual details towards a broader picture and thus provide a history of Japanese-German business relations during the Inter-war years.

This study illustrates the social and political principal that institutions matter. It explores not only how to get institutions to work efficiently, but also how to assess the proper relationship between institutions and development challenges through evaluative techniques.

'Business Economics: Theory and Application' is an undaunting and accessible text that focuses on the real world of business and how this relates to economics. The links to business are far more intrinsic that in other business economics textbooks where a business "flavour" is simply added to traditional economics theory. It provides an in-depth jargon-free analysis, particularly relevant for one semester courses. A variety of case studies and questions are used throughout the text both to illustrate key points and for seminar and assignment work. Diagrams are included to aid the explanation of complex issues, and review and discussion questions are incorporated to consolidate and expand on the learning. A lecturer's supplement accompanies the text.

Organization theory is a fast-developing field of microeconomics. Organizational approaches are now used in a wide range of topics in business studies. They are based on information economics, contract theory, and mechanism design. This book introduces such organizational approaches and how to adopt them as business applications. The book presents the theory in the first two chapters and proceeds to cover the applications of the theory in the three chapters that follow. The theory lays the foundation and the applications illustrate how the theory can be used in a wide range of business problems. The book covers many concepts and ideas in organization theory, including complete contracts, incomplete contracts, allocation of control rights, option contracts, convertibles, and joint ventures, concisely. It will be of use to third-year undergraduates and above, as well as Master's- and Ph.D-level students in business schools.

This thorough reconstruction of microeconomics 'post-2008' provides economic students with a new way of real-world understanding and strategic qualification that will be better appreciated by their future employers and any professional practice. It will prove essential for economic students and other social science programs at a graduate level. This accessible and engaging textbook includes: - A survey of the most famous core models of modern microeconomics including the neoclassical approach and its heterodox critiques - Sraffian, Institutionalist, Post-Keynesian and Mirowskian - An introduction to complexity thinking in economics - An introduction to game theory - An introduction to the methods of complex computer simulation - An introduction to strategic behavior - An newly integrated approach to real-world and complexity economics, rather than focusing on neoclassical ('perfect') market equilibrium 'plus a thousand recent extra things on top'. See the companion website - www (dot) microeconomics (dot) us - for teaching material, readings, exams and as a general guide to explore issues raised in the book.

In this study of the development of the Asian department store, economists, anthropologists and historians examine various aspects of retailing, business organization, networking and consumerism in the expanding economies of Asia. While focusing on the cultural histories of China, Japan, Hong Kong, Taiwan and Singapore in the formation and shaping of Asia's universal providers', this book presents a comparative perspective on the way in which department stores such as Wing On, Sincere, Seibu and Metro have gradually been transformed into multinational enterprises during the 20th century.

Series Information:
Foundations of the Market Economy

Compiled by the Bureau of Labor Statistics, the CPI is used to index Social Security payments and many other federal programs, as well as to adjust tax brackets. Today, the accuracy of the CPI is being hotly debated, particularly in light of the Boskin Commission report that concluded in December 1996 that the CPI overstates inflation by 1.1%. If accepted and applied in the formulation of economic policy, the report would have major implications for balancing the federal budget. It would have a direct impact on the lives of Americans who are beneficiaries of government programs as well as on everyone who pays taxes. In this book, Dean Baker introduces and explains the significance of the debate, presents the full text of the Boskin Commission report and finally discusses in a far-reaching and insightful analysis both the Commission's research methodology and its conclusions.

The theory of the firm did not exist, in any serious manner, until around 1970. Only then did the current theory of the firm literature begin to emerge, based largely upon the work of Ronald Coase and to a lesser degree Frank Knight. It was work by Armen Alchian, Robert Crawford, Harold Demsetz, Michael Jensen, Benjamin Klein, William Meckling and Oliver Williamson, among others, that drove the upswing in interest in the firm among mainstream economists. This accessible book provides a valuable overview of the 'prehistory' of the firm. Spanning an impressive timeline, it delves into Antiquity, the Medieval era, the pre-classical economics period and the 19th and 20th centuries. Next, the book traces the theoretical contributions from pre-classical, classical and neoclassical economics. It will be illuminating reading for students and researchers of the history of economic thought, industrial organization, microeconomic theory and business history.

Consumer Services have been viewed as parasitic activities, dependent on other sectors of the economy for their viability and vitality. Yet local economic policy is now looking towards consumer services to solve severe economic problems. The rapid expansion of the service sector is now a principal feature of contemporary global economic restructuring. Consumer Services and Economic Development evaluates the contributions that consumer services can make to local economic development and revitalisation. A broad range of consumer service industries are examined in turn: tourism, sports, universities, retailing and cultural industries. Detailed local case studies illustrate the role, impact and effectiveness of consumer services in economic regeneration in a number of different contexts: the global city, contrsting urban areas and rural localities. With many localities in the advanced economies suffering from severe deindustrialisation and weak producer service growth, this book highlights the need for a fundamental rethink of both the function of services and of economic development theory and practice in general.

Experts define, review, and evaluate economic fluctuations
Economic and business uncertainty dominate today's economic analyses. This new Encyclopedia illuminates the subject by offering 323 original articles on every major aspect of business cycles, fluctuations, financial crises, recessions, and depressions. The work of more than 200 experts, including many of the leading researchers in the field, the articles cover a broad range of subjects, including capsule biographies of leading economists born before 1920. Individual entries explore banking panics, the cobweb cycle, consumer durables, the depression of 1937-1938, Otto Eckstein, Friedrich Engels, experimental price bubbles, forced savings, lass-Steagall Act, Friedrich hagen, qualitative indicators, use of macro-econometric models, monetary neutrality, Phillips Curve, Paul Samuelson, Say's law, supply-side recessions, James Tokin, trend and random wages, Thorstein Veblen, worker-job turnover, and more.

Contents:
1. In What Senses Were the Founding Austrians 'Neoclassical' Economists? 2. The Founding Austrian Conceptions of Economics 3. Carl Menger's Analysis of Choice 4. Wieser and Bohm-Bawerk on Economizing Behaviour 5. Carl Menger's Theory of Price Formation 6. Bohm-Bawerk's Value and Price Theory 7. The Process of Competition in Founding Austrian Economic Theory I: Menger's Principles 8. The Process of Competition in Founding Austrian Economic Theory II: Wieser and Bohm-Bawerk 9. Capital in Founding Austrian Economic Theory: Menger versus Bohm-Bawerk 10. Mengerian Distribution Theory: Wieser's Contribution 11. The Founding Austrian Version of Neoclassical Microeconomics: Summary and Conclusions

First published in 1997. Routledge is an imprint of Taylor & Francis, an informa company.

This book explores a new theory of the firm produced through an exchange between management theory and economics. In the process economics is seen to provide a foundational element for strategy research whilst developing a more realistic theory of the firm with a greater emphasis on its internal features. The success of competence theories of the firm also reflects their ability to explain significant trends in the business world, notably the declining importance of conglomerates and critical features in the success of Asian and Japanese business.

This work offers information about the provision of rented housing in several European countries, and includes topics such as policy instruments, social housing issues and affordability. It should be relevant to housing, surveying and planning students courses with a European housing element/option. The text explains the development, financing and management of rented housing in several European countries. It also examines the issues surrounding the provision of social housing - municipal and association housing - in France, Germany and the Netherlands. The book is both policy - and practice - orientated, and offers specific detail and arguments on aspects of rented housing in several countries, as well as information on policy developments.

Since it was first published Public Sector Economics has become the most widely adopted undergraduate textbook in its field. Major revisions have been made to this fourth edition while preserving the central objective of the book, which is to explain the relevant principles and the relationships between public expenditure, taxation and the behaviour of economic agents such as individuals, households and firms.* A thoroughly revised edition of the standard UK text in the area * All statistics bought up to date * A wealth of new material, particularly on taxation

Prices and Choices is a collection of twenty-seven short, lively essays specifically designed to provide stimulating supplementary readings for introductory or intermediate microeconomic theory classes. Hemenway puts economic concepts to work, using tools of analysis that are well within the grasp of undergraduates. Students will have experience with, and ideas about, the topics and will therefore be able to enjoy Hemenway's entertaining discussions on economic theory; questions at the end of each chapter are included to promote active classroom discussion. Specific topics include: temptation, fashion, haggling, tipping, insurance, crime, quality, inspection, safety, health care, and the Bible.

The economic crisis which has hit Africa since 1985 is raising questions about Africa's future position in World Trade and whether it has any chance of developing a competitive industrial structure. Presenting studies of 55 exporting manufacturers in six African countries, this collection examines the question of why some firms in the Sub-Saharan economies have been able to develop export trade, despite generally unfavourable circumstances. In particular the papers seek to understand how these firms have been able to sustain their competitiveness in the face of rapid technological change in the international economy in the context of the threats and promises such change presents to Africa. A case is made for selective complementary investments by governments to build the technological capabilities which are necessary for attaining and maintaining competitiveness. The papers present empirical research and a framework which should be of interest to academics in the development field and to government as well as international policy makers.