Hardbound. Volume 9 is entitled Industrial Organization and is the ninth volume in the series Advances in Applied Microeconomics. This series provides a forum in which researchers may disseminate frontier research in applied microeconomics to include both theoretical and empirical contributions in applied areas such as industrial organization, consumer and producer behavior, public economics, natural resources, and other applied microeconomic fields. Volumes are published along themes and contain theoretical papers that apply state-of-the-art theory to model important real-world phenomenon, as well as empirical papers that examine such phenomenon.

In six chapters this book introduces a micro-economic model where trade takes place through a stable structure of bilateral exchange institutions.The main problem in such models is that, for well-known equilibrium concepts, equilibrium may fail to exist in the corresponding game. In this work an adaptation of such models - hierarchically structured economies - is introduced. The possibilities and limitations of the use of the concept of subgame perfect equilibrium within the context of this kind of models is discussed. Furthermore, it is shown that some well-known market forms, viz. Walrasian and monopolistic markets, occur as special cases. A modification of the concept of subgame perfect equilibrium is introduced to formulate and prove a general theorem on the existence of equilibrium in hierarchically structured economies.

It is beyond any doubt that East-Central European countries such as Czech Republic, Hungary, Poland and Slovakia has dramatically changed its shape through its radical transition from centrally planned to the market economies in last 7 years. Many economists divide the process of economic transformation into areas of Stabilization, Liberalization, and Privatization/Restructuring. The traditional view is that stabilization and liberalization can be achieved rather quickly-by balancing budgets, balance of payments, tightening money supply, freeing prices and liberalizing trade-but that the area of privatization is one that could be moved to the future and will require much more time. Until 1991, none of the post-communist nations except former East Germany (which had a large decree of support from West Germany) had succeeded in privatizing large numbers of enterprises, even though more than two years had passed since the changes in government in these nations. The privatization has been, however, seen as an extremely important part of reform package together with stabilization and liberalization especially in the Czech Republic from the very beginning. The Czechs originally as a part of the Czechoslovak Federal Republic embarked on an unprecedented path that should have lead not only to stabilization and liberalization, but also to very rapid, mass privatization of its sector of large enterprises that have dominated its economy to an extreme extent.

This anthology concerns the economic and demographic changes that have occurred in northeastern Ohio since 1960, but specifically during the 1970s and 1980s when that region's major industries (rubber, steel, automobiles) experienced severe decline. Sixteen chapters reflect on the reasons for industrial restructuring, the implications for population growth and future employment and investment opportunities, and the role of local, state, and national governments in undertaking policies that generate economic activity. Three themes dominate: the centrality of employment in regional development; the relation between economic development and product cycles (and thus the need to introduce new economic activities to the region); and the regional, national, and international constraints on local economic-development initiatives. "Choice"

Much has been written concerning the erosion of the industrial base in this particular region and other areas of the country. Drawing heavily upon contributions from nationally recognized experts on urban and regional development as well as input from nanacademic sources, the present volume uses Northeastern Ohio as a case study of older industrial areas suffering from economic repression. Among the topics discussed are the limits of traditional development, fiscal implications of industrial restructuring, and urban adaptibility. Particular cities are also examined in order to pinpoint development problems and to offer alternative paths to local progress.

Written by specialists in law and economics, this book studies the role of liability rules in an effort to illustrate the possible consequences of statutory tampering with them. The contributors explain how statutory and common law liability rules evolved, how they work in current practice, and how changes in rules can alter economic outcomes in significant and unintended ways. Although price theory is the primary analytical tool employed in the study, the contributors also provide a wealth of institutional detail intended to illuminate the structure and operation of forces at work when questions of product or service liability arise.

Throughout, the contributors focus on the effects of individual decision making: how incentives faced by individuals are affected by liability rules and how the collective actions of purposeful individuals working in private markets and through the political process affect social outcomes. Among the specific topics addressed are using liability rules to deter government takings, the impact of government liability on private risk avoidance, the allocation of product liability by market share, liability and environmental quality, the effects of the flammability rule, deposit insurance and the savings and loan fiasco, and the political debate over automobile air bags. The contributors conclude that attempts to remedy alleged defects in the common law by legislative edict are not well grounded. Ideal as supplemental reading for courses in business and government, this volume will also be of significant interest to students of law and economics.

Providing an empirical look at the Jamaican economy, this careful study examines the impact of the (International Monetary Fund) approach to economic management in the 1980s and compares it to the non-IMF policies of the 1970s. Opening with an overview of the structure of Jamaica's economy, the book discusses the results of the economic policies of the 1970s and 1980s. Demonstrating that Jamaica's income is among the most unequally distributed in the world, the author explores how the policies of various governments affected income distribution, focusing on whether non-IMF policies had a different effect than IMF policies. He concludes with a discussion of how inflation and fiscal policies influence particularly vulnerable groups, which include children, the elderly, and much of the labor force.

Strategic Interaction and Markets explores the theoretical richness of economic contexts such as product differentiation, strategic barriers to entry, and imperfect information, where economic agents act strategically taking into account the impact of their behaviour on competitors' behaviour and prices. This non-ideal form of competition is the standard result when competition is amongst a small number of agents. Designed as an ancillary text for graduate students, this book is an accessible introduction to the applications of a complex area of mathematical economics.

A collective effort by American and North African scholars, this volume provides a comprehensive analysis of recent economic, social, and political events in North Africa. It shows how the Maghrebi states and societies are currently at a very important junction as they try to adjust to different ways of doing things in new regional and international orders. Using a political economy approach, the book focuses on a series of issues raised by the interaction between economic crisis and reform on the one hand, and political change or stagnation on the other. The author and his contributors provide a comprehensive and up-to-date survey of particular value to scholars and researchers of the Arab world in general and North Africa in particular.

Business cycle theory has been one of the fastest growing fields in modern nonlinear economic dynamics. The book is centered around models of multiplier-accelerator type, emerging from Samuelson's seminal work, later developed into nonlinear formats by Hicks and Goodwin. These models left open ends, as the tools then available did not permit more systematic analysis. The present situation is different, due to the emergence of new methods also focusing global analysis. The focus on classical, causal or recursive models implies a deviation from current main stream business cycle theory, based on "rational expectations," which in view of the possibility of mathematical chaos becomes untenable. This book is a rejoinder to Puu and Sushko, Oligopoly Dynamics - Models and Tools, (Springer 2002).

Corporate social responsibility is examined in this book as multi-stakeholder approach to corporate governance. This volume outlines neo-institutional and stakeholder theories of the firm, new rational choice and social contract normative models, self regulatory and soft law models, and the advances from behavioural economics.

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

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

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

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

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

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

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

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

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

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

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

Is the battle against inflation in China now over? Can Zhu Rongji, the economic guru turned Chinese premier who has successfully reduced the skyrocketing inflation of the mid-1990s to a near zero level, while yet maintaining high economic growth through the new millennium, relax? These are the key questions raised by China's current economic transition towards a market-based system, and they both revolve around the institutional economics that is the focus of this volume. Dealing specifically with the giant state-owned enterprises (SOEs), Industrial Reform and Macroeconomic Instability in China unravels the intriguing dynamics between industrial deregulation and inflation, in the context of China's continuous search for sustained, stable economic growth without runaway inflation. This book is unique among western studies: it addresses the very core, but to date least reformed sector of the Chinese economy. SOEs have monopolized key industrial supplies, commanded the bulk of national investment, disctated much of the nation's credit and finance, and have been the single most important source of state budget revenue. Continually faced with enormous internal wage pressures, all attempts at marketization and price liberalization are inherently inflationary. Based upon an independently, specifically designed set of questionnaires administered to 300 large and medium-scale state industrial enterprises in six major industrial cities, this book provides an in-depth analysis of the first decade of the reforms of the 1980s. The findings are formulated as pointers for understanding the macroeconomic vicissitudes that occurred after the launching of the campaign to create a 'socialist market economy' in the early 1990s. This book will be of use to China analysts, students, and businessmen who are interested in learning about the progress made, the remaining obstacles that the state-owned enterprises face, and their inevitable impact on China's economic growth and stability.

The purposes of this book are as follows: 1) The occurrence of business cycle is closely connected with the essential features of a capitalist economy. The first aim of this book is to clarify this relationship. 2) To recount the history of business cycle in Japan and some other leading capitalist economies during the post war period. 3) To survey a variety of business cycle theories in both the Marxian and Orthodox economic traditions. 4) To construct a simple mathematical model and demonstrate the relationships between economic variables. We hope this helps readers to understand better the mechanisms of the business cycle. 5) To conduct a computer simulation of the model described above. Computer simulation is a powerful method both for examining the logical consistency of a theoretical model and exploring its conclusions.