This book covers a wide spectrum of issues in behavioural game theory (BGT), ranging from players' heterogeneity, social preferences and reciprocity, to learning, information and punishment in public good games. The book opens up the interdisciplinary aspects of BGT, and presents models which are tested through experimental methods.

This book studies the main causes, consequences and nature of the Asia-Pacific's new free trade agreement (FTA) trend, and its implications for the global economy. It explores the FTA policies of the region's trade powers and offers conceptual and theoretical perspectives on the relationship between economic bilateralism and regionalism.

This textbook articulates the elements of good craftsmanship in applied microeconomic research and demonstrates its effectiveness with multiple examples from economic literature. Empirical economic research is a combination of several elements: theory, econometric modelling, institutional analysis, data handling, estimation, inference, and interpretation. A large body of work demonstrates how to do many of these things correctly, but to date, there is no central resource available which articulates the essential principles involved and ties them together. In showing how these research elements can be best blended to maximize the credibility and impact of the findings that result, this book presents a basic framework for thinking about craftsmanship. This framework lays out the proper context within which the researcher should view the analysis, involving institutional factors, complementary policy instruments, and competing hypotheses that can influence or explain the phenomena being studied. It also emphasizes the interconnectedness of theory, econometric modeling, data, estimation, inference, and interpretation, arguing that good craftsmanship requires strong links between each. Once the framework has been set, the book devotes a chapter to each element of the analysis, providing robust instruction for each case. Assuming a working knowledge of econometrics, this text is aimed at graduate students and early-career academic researchers as well as empirical economists looking to improve their technique.

This book focuses on the concepts of social capital, corporate social responsibility, and economic development in relation to economic theory of institutions and behavioural economics. It also takes a macroeconomic and empirical approach, on the relationship between social capital, ethical behaviour and economic development.

This textbook presents the basics of game theory both on an undergraduate level and on a more advanced mathematical level. It is the second, revised version of the successful 2008 edition. The book covers most topics of interest in game theory, including cooperative game theory. Part I presents introductions to all these topics on a basic yet formally precise level. It includes chapters on repeated games, social choice theory, and selected topics such as bargaining theory, exchange economies, and matching. Part II goes deeper into noncooperative theory and treats the theory of zerosum games, refinements of Nash equilibrium in strategic as well as extensive form games, and evolutionary games. Part III covers basic concepts in the theory of transferable utility games, such as core and balancedness, Shapley value and variations, and nucleolus. Some mathematical tools on duality and convexity are collected in Part IV. Every chapter in the book contains a problem section. Hints, answers and solutions are included.

Both Taiwan and China are extremely populous nations that, due to population pressures and continuing high growth levels, have experienced challenges in sustainable development. Hsu illustrates Taiwan's path toward sustainable development and contrasts it to that of China, suggesting ways in which Taiwan can help China implement its environmental and social policies, and in which China might help Taiwan continue its path toward sustainable environmental and social policies. She explains that although Taiwan is a small compared to China, some aspects of its development model can (and should) be scaled up for larger countries. The importance of regulation enforcement is clear regarding Taiwan's environmental protection program, as is the promotion of small and medium sized enterprises in promoting income and social equality. Similarly, China's experimental methodology - using small areas to explore different ways of living or different technologies - can be useful in Taiwan. In Lessons in Sustainable Development, Hsu examines China and Taiwan in terms of inequality and environmental issues.

Dwindling innovation and deteriorating economic conditions are caused by a major force, a systemic shift in the American economy. In this gripping book, Dr. Samli makes the case that the US economy is shifting for the worse, tilting towards a finance-driven economy, and argues that investing in innovation will bring us out of the recession and back to a successful, market-driven economy. While the US is cost-cutting by sending jobs abroad, reducing education budgets, and redirecting government funds to military involvement, American innovation has been suffering and stifled. Dr. Samli explores the roots of the recession from this viewpoint and offers an 'innovative' solution for disciplining economic, political, and social activities to come out of the recession and restore the tilt towards the 99-percent.

This work on microeconomics offers interpretations of both its strengths and its weaknesses. It shows how the general equilibrium ideas of Walras and Marshall were gradually transformed after 1930 into formalized accounts of imaginary economies where trading never occurs.

This book challenges the generally accepted theories of classical economics, explaining why the expected utility theory, even if it were true, fails to be of much help in solving economic controversies.

The human factor has received scant attention in modern Economics, however this volume redresses the balance by incorporating human psychology into economic analysis. This book constructs a new basic structure model of economic circulation based on a new flow-like concept of utility (diminishing utility) and analyzes the direct relationship between human psychology and economic fluctuation, while expanding it into a consistent explanation of the generation and the collapse of financial bubbles.

"Reverse Licensing" evaluates the transfer of technology to the U.S. as an alternative growth strategy for both small- and medium-sized U.S. manufacturing firms which need new and competitive technology and for foreign firms which are anxious to enter the U.S. market but lack the required resources for export and/or foreign direct investment. The first theoretical research on international technology licensing from the U.S. licensees' standpoint, this book examines reverse licensing as an alternative to reverse investment. In addition, a sample of 120 U.S. manufacturing firms which have actually utilized reverse licensing is used for empirical and statistical analysis.

Industrial organization studies how markets allocate resources, specifically when there are few agents or when there are frictions that render the price-taking paradigm unsuitable. Game theory explores situations in which agents interact strategically and provides a useful foundation for studying many traditional industrial organization topics. The first volume of this wide-ranging Handbook contains original contributions by world-class specialists. It provides up-to-date surveys of the main tools of game theory that are used to model industrial organization topics. The Handbook covers numerous subjects in detail including, among others, the tools of lattice programming, supermodular and aggregative games, monopolistic competition, horizontal and vertically differentiated good models, dynamic and Stackelberg games, entry games, evolutionary games with adaptive players, asymmetric information, moral hazard, and learning and information sharing models. Technical yet accessible, this comprehensive resource will be required reading for both established researchers as well as graduate or advanced undergraduate students in industrial economics and game theory. Contributors incude: R. Amir, A. Attar, G.I. Bischi, F. Bloch, L. Corchon, S. Currarini, C. d'Aspremont, F. Feri, J. Gabszewicz, M. Jensen, L. Julien, F. Lamantia, I. Macho-Stadler, M. Marini, E. Maskin, D. Perez-Castrillo, C. Pimienta, D. Radi, R.A. Ritz, K. Ritzberger, O. Tarola, J. Thisse, A. Urbano, P. Ushchev, X. Vives, J. Zhao

The world trade system is at a fork in history's road; WTO members cannot avoid Making a choice. / Take the politically expedient path by putting Doha talks on hold, or / Take the leadership path of engaging constructively and creatively in breaking the deadlock. Published ahead of the 29 April 2011 meeting of WTO members in Geneva, this book argues that if the current deadlock - mainly between the US and China - cannot be broken in 2011, no resolution is likely before 2020. US Congressional politics will be much rougher in 2013 - scared by divisive debates over spending and taxes - and the new Chinese government can hardly afford to start off with major tariff concessions to the US. Think of 2013 as 2011 with less goodwill Internationally, more poisonous politics inside the US, and a Chinese leadership that must prove its toughness. Breaking the deadlock would require an expanded negotiating agenda, but this would add years to the talks. The false promise that it would be harmless to allow Doha to languish for years is deeply dangerous, at best. The authors in this volume - trade experts from across the world - identify the perils of allowing Doha to flounder, and the hard choices governments must make to break the deadlock.

In this groundbreaking new study, Whicker and Moore address an issue of critical importance to the future economic and political stability of the United States: how can this nation become more competitive in international markets. Drawing upon economic theory, political philosophy, and specific policy expertise, the authors organize their work around two principle themes: that just as the role of government in a changing world is evolutionary, policies must evolve to reflect shifting economic realities, and that previously hostile attitudes among U.S. management, labor, and government must be replaced by cooperation in order to ensure effective, long-term competitiveness abroad.

The global wine industry is a continually modifying market impacted by financing, culture, and politics. Economics, Governance, and Politics in the Wine Market follows developments in European agriculture policies on wine legislation and market trend orientation between political power and market structure, from their inception through recent reforms. This political economic analysis seeks to explain the implementation of wine policies applied to production management in Europe. Gaeta and Corsinovi use The Public Choice model to describe bargaining and trade-off in agriculture wine policy by governments, producers, and critical industrial organizations. They argue that market problems cannot be analysed without an understanding of the motives and processes behind upstream policy decisions. With the book's theoretical approaches and famous case studies, readers become agricultural wine experts capable of navigating the current complex wine market of the European Union.

The book discusses, elaborates on and answers questions to the following points: Firstly, what has changed through the information technology represented by software, Internet and big data? How do these changes effect the production relationships, the production mode and the industrial development model? Can China realize a "great-leap-forward" in economic development by promoting such a new Internet economy? Secondly, what is the format shown by the Internet economy? Is the Internet economy a market economy, or a planned economy, or is it an economic complex format which combines the planned economy and the market economy? What is the structure of the future economy? Which entities will compete with each other throughout the industries? What is the format of the future financial investment industry? Why does the Internet economy have a revolutionary impact on the economic base and the superstructure? Thirdly, let us look back on the traditional manufacturing industry. What on earth is the core value of the manufacturing industry? How is the core technology and core value of manufacturing realized? Why can it be that the industrial Internet will become a rare historical opportunity for China's manufacturing industry and economy to achieve a "great-leap-forward" development? Finally, in the big economic tide of Internet and big data, what are the future variables of China's economy? What is the established economic policy of the United States for the global economy and industries? How should the economic variables of the United States be best dealt with, those that are determined as "US priority" and "the return of manufacturing industry" strongly promoted by the U.S. President Trump?

Dealing with economic issues related to income and wealth among individuals, regions and countries, this book presents a general theory with endogenous capital, knowledge and preference changes for an economic system with heterogeneous households, multiple sectors, multiple regions and multiple countries.

People regularly multitask, though we have been warned about the mental costs of "task-switching" in psychology and the popular press. Meanwhile, economists have remained silent on the possible economic ramifications - both good and bad - of producers and/or consumers doing more than one thing at once. This first-of-its-kind volume explores the frequency, patterns, and economic implications of multitasking, with a particular focus on the multitasking of non-market activities such as child care, housework, eating, and studying. Using data sets from around the world and best-practice empirical and experimental techniques, the contributors to this volume explore the association of multitasking with output and welfare in a range of settings of interest to economists. Contributions in theory, empirical work, data management, and concepts are combined to yield the discipline's first holistic view of multitasking and to identify where the research frontiers lie in this area.

A growing literature in economics has studied how fairness considerations shape human behavior. This review analyses the key theoretical and empirical contributions spanning the last four decades, along with influential related work in normative economics. It argues that the fairness motive is essential for understanding human behavior in a wide range of settings, such as markets, bargaining, and redistributive situations. It moves on to a discussion of the large heterogeneity in what people view as fair and the importance people attach to fairness, displaying how a concern for fairness develops in childhood and manifests itself in the brain. This research review will be a valuable tool for those interested in the fascinating field of the economics of fairness.

Utz-Peter Reich addresses economists interested in a sound empirical foundation for their theoretical concepts. He investigates economic value and determines how value is defined in theory, which is microeconomic, and how it is measured in practice in national accounts. He demonstrates that microeconomic theory is not made to guide or interpret national accounts figures and he offers an alternative theory.