The questions such as, 'why the focuses of national policies vary significantly across countries, although their sources of policies are to a great extent identical'; 'why national development experiences mostly cannot be transplanted successfully among countries'; 'why some ineffective institutions persist over long periods of time', have attracted numerous efforts. This book provides a new perspective and argues that the answers lie in the existence of the networks of institutions and thus of national systems of policies (NSP) within national frameworks. Institutions are the equilibria of games and exist as rules of games. Therefore, a basic setting is that institutions emerge endogenously from a series of social interactions, and the interacting human agents are connected and interdependent at the overlapping interaction platforms. National policies and developmental strategies can be modelled in this approach too. The networks of institutions describe the dynamic connected structure among institutions in the process of social interactions over time. Regarding the national policies response to the recent economic crises, this book argues that the difference comes from the distinct understandings of the tags of the policies, which highly depend on the distinct national contexts, such as national interests, cultural background, political systems and so forth. This book represents a significant contribution to the literature which will be essential reading for those interested in institutional economics, network theory, social structures and economic policy. In particular, the approach of applying network game theory in institutional emergence, and the terms developed, i.e. tags of institutions, and national systems of policies, in this book, are illuminating and deserve more attention.

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.

The Middle East is at an unprecedented crossroads between the established Euro-centric system and the emerging Asian powerhouses like India and China. Their economies, policies and social structures are a half-way-house between these two dominant groups and are an important case study to examine in order to highlight future prospects and problems of the global system. The Middle East is an important missing piece in a huge global puzzle. This book makes a significant step towards understanding that puzzle and offers solutions for how to fully integrate this missing jigsaw piece into the global economic system. Analytical Peace Economics: The Illusion of War for Peace focuses on three critical issues in the Middle East that dominate discussions about their place in the global political economy: conflict, oil and (regional) development. Examining economic and social development in juxtaposition with conflict and peace, this book adapts, develops and applies historical, geographical, economic and psychological methods, creating a nuanced approach to the collective understanding of the economic and social dynamics in the region. By developing theoretical models and analysing empirical research, this book offers an economic analysis of the attempt to find peace through war and seeks to find alternative solutions. This book will be of interest to researchers, policy makers and doctoral students of economics, finance and social sciences as well as advanced undergraduate students of peace economics and development studies.

This book introduces special programs designed to enhance thinking and problem solving at the preschool, elementary, secondary, college, and graduate levels, as well as proven instructional methods to aid the elderly in retaining or regaining essential mental skills. The volume also considers difficult problems confronting psychology, including such disparate issues as the appropriate content of courses to develop thinking, resistance to the introduction of programs in schools and universities, and psychology's limitations on progress in these areas.

Managerial economics is the application of economic theory and quantitative methods (mathematics and statistics) to the managerial decision-making process. This book will appeal to students with limited prior training in economics and quantitative methods. It assumes that students will have had mathematics training at least through pre-calculus and that they have had a course in elementary statistics. It also expects students to have had an undergraduate course in intermediate microeconomics.
The book includes these features:
* An Online Instructor's Manual
* An Online Study Guide
* A problem-solving approach to the study of managerial economics that combines the features of a standard managerial economics textbook with those of a separate study guide.
* A method for helping business students develop the analytical skills necessary for success in the study of managerial economics, finance, and management.
* A more extensive review of mathematical techniques than most comparable textbooks.
* A separate chapter on game theory, including:
* Noncooperative, simultaneous-move, one- shot games
* Cooperative, simultaneous-move, infinitely- repeated games (including collusions, cheating rules, and determinants of collusive agreements)
* Cooperative, simultaneous-move, finitely- repeated games
* Focal-point equilibria
* Multistage games
* Bargaining with and without symmetric and asymmetric impatience
* A chapter on the time value of money and capital budgeting
* The accentuation of risk, uncertainty, and the economics of information throughout
Book Hooks:
* Practice oriented, avoiding complex theoretical explanations withcumbersome notation
* Problems are included in each section and are made integral to learning and understanding subjects
* Math review uses economic relationships instead of general notation
* Excellent balance among motivation, theory, and examples
* Clear exposition
Key Features:
Emphasizes utility and applicability, not innovation
Chapters conclude with:
* chapter review
* key terms and concepts
* chapter questions
* chapter exercises
* selected readings

Examining the role of the public sector in small-business debt-capital formation, this book describes current approaches, conceptually and pragmatically, and evaluates their advantages and disadvantages from a variety of perspectives. It also suggests a model for improving our approach to small business capital formation in the United States. Financing small business creation and expansion has always been difficult. Private debt capital providers tend to avoid small business because the latter are preceived to be too risky. Yet because of the importance of small businesses to national economic growth, stability, and innovation, ensuring that these businesses can obtain and effectively use appropriate levels of debt capital is vital to national well-being. How, and to what extent, should the public sector intervene in the debt capital markets to ensure that sufficient capital flows to small businesses? This book is an attempt to answer that question.

Investment Banks, Hedge Funds, and Private Equity, Fourth Edition provides a real-world view of this fast-evolving field, reviewing and analyzing recent innovations and developments. This reference captures the actual work of bankers and professional investors, providing readers with templates for real transactions and insight on how investment banks, hedge funds, and private equity firms provide services to each other while creating opportunities for corporations and investors to raise capital, invest, hedge, finance, acquire, divest, and risk manage. For each type of institution, the business model, organizational structure, products, challenges, regulatory issues, and profit-making opportunities are explained. In addition, specific transactions are analyzed to make clear how advisory services, financings, investments, and trades produce profits or losses, and which types of risks are most commonly taken by each type of institution. Importantly, the linkage of investment banks, hedge funds, and private equity to corporations, governments, and individuals is described, enabling the reader to more clearly understand how these organizations impact them and how their products and services can be best utilized.

This book brings together empirical evidences and theoretical perspectives to provide a comprehensive overview of the microfinance sector in India. The essays in the volume: focus on the application of information and communication technology (ICT) solutions in microfinance institutions to strengthen the savings movement and widen credit access to the poor and marginalized sections of society; present case studies on self-help group (SHG) movements, federations and SHG-Bank Linkage programmes; propose measures for strengthening regulatory and governance structures of the microfinance sector; and identify linkages between overall financial inclusion and the contribution of microfinance institutions (MFIs). The volume will be indispensable for scholars and researchers of microeconomics, South Asian economics and development economics as well as professionals and aspirants in the microfinance, rural banking and financial inclusion sectors.

First published in 1992, A Political Theory Primer is designed as an introductory course for students in the application of game theory to modeling political processes. Examining those very phenomena that power political machineries--elections, legislative and committee processes, and international conflict--the book attempts to answer fundamental questions about their nature and function. Included at the end of each chapter is a set of exercises designed to allow students to practice the construction and analysis of political models. Although the text assumes only training at the basic algebra level, the student who completes a course around this text will be equipped to read nearly all the professional literature that makes use of game-theoretic analysis. Each chapter also contains suggestiosn for further reading for those students who want to broaden their learning and expertise.

This book offers students an accessible and applied introduction to microeconomics in tourism and hospitality through a comprehensive analysis of the market mechanism, demand and supply, firm behavior and strategy, and transaction and institution. This book not only helps students to master core microeconomic theories that are essential for understanding the tourism and hospitality industry, but, more importantly, it guides students to analyze consumer behavior and firm strategy specific to the industry. Throughout the book, readers are guided to develop the economic analysis of tourism and hospitality that progresses from economic intuition to graphical representation and to mathematical quantification. Carefully corralled case studies showcase the applications of key microeconomic theories in solving a wide range of real-world problems, including Uber's surge pricing, Airbnb's supply adjustment, and McDonald's and Burger King vying for prime locations. This book is written in an accessible style, illustrated with exquisite diagrams, and enriched with a range of other features, such as chapter summaries, review questions, and further readings to aid readers' further understanding. By reading this book, students will be able to develop an economist's way of thinking, which will enable them to analyze tourism and hospitality businesses in a rigorous and critical manner. This book is essential reading for all tourism and hospitality students and teachers.

This volume includes chapters by a number of leading researchers in the area of reading and spelling development. They review what is currently known about both normal and impaired development of decoding, comprehension, and spelling skills. They also consider recent work on the remediation of reading and spelling difficulties in children and discuss effective remedial strategies.

Decentralization in Infinite Horizon Economies brings together a collection of essays that attempt to explore one of the basic themes in microeconomics - can a decentralized economy attain an efficient or optimal allocation of resources when it is allowed to evolve without a predetermined terminal date? The failure of a price-guided competitive system to ensure efficiency/Pareto optimality with an infinite horizon was exposed by Malinvaud and Samuelson. Subsequent research, reported in this volume, achieved a deeper understanding of the problem, and obtained definitive results that are of interest in a much broader framework.

This is the first book to address the design needs of older people in the outdoor environment. It provides information on design principles essential to built environment professionals who want to provide for all users of urban space and who wish to achieve sustainability in their designs. Part one examines the changing experiences of people in the outdoor environment as they age and discusses existing outdoor environments and the aspects and features that help or hinder older people from using and enjoying them. Part two presents the six design principles for 'streets for life' and their many individual components. Using photographs and line drawings, a range of design features are presented at all scales of the outdoor environment from street layouts and building form to signs and detail. Part three expands on the concept of 'streets for life' as the ultimate goal of inclusive urban design. These are outdoor environments that people are able to confidently understand, navigate and use, regardless of age or circumstance, and represent truly sustainable inclusive communities.

Important and celebrated economist Leland Yeager is one of the architects of the 'Virginia School' of political economy that has produced two Nobel laureates (James Buchanan and Ronald Coase) and the Public Choice movement. A number of top class contributors have here been brought together to produce a festschrift in Yeager's honor - edited by Roger Koppl, and including the aforementioned Buchanan, Gordon Tullock, David Colander, Deirdre McCloskey and Roger Garrison.

First Published in 1972. The London Discount Market is unique, and its existence has contributed more than any other single factor to the elaboration of what may legitimately be called the Anglo-Saxon tradition in Central Banking technique. The bill of exchange has existed for centuries in its classical late Victorian form by many decades. This book assesses how in no other country in the world did the same relationships evolve between the Central institution and the Money Market.

In recent years, trust has enjoyed increasing interest from a wide range of parties, including organizations, policymakers, and the media. Perennially linked to turbulence and scandals, the damaging and rebuilding of trust is a contemporary concern affecting all areas of society. Comprising six thematic sections, The Routledge Companion to Trust provides a comprehensive survey of trust research. With contributions from international experts, this volume examines the major topics and emerging areas within the field, including essays on the foundations, levels and theories of trust. It also examines trust repair and explores trust in settings such as healthcare, finance, food supply chains, and the internet. The Routledge Companion to Trust is an extensive reference work which will be a vital resource to researchers and practitioners across the fields of management and organizational studies, behavioural economics, psychology, cultural anthropology, political science and sociology.

This book addresses the lively interaction between the disciplines of law and economics. The traditional boundaries of these two disciplines have somehow inhibited a full understanding of the functioning of and the evolution of economic and legal systems. It has often been the case that these boundaries have had to be reshaped, and sometimes abolished, before either one of the two disciplines could successfully clarify the real life problems arising from the complex institutions of contemporary societies. The contributions to this volume encompass some of the core controversial issues in law and economics arising from interactions between legal orderings and economic institutions. They include: the nature of institutional and legislative change and the emergence of strong institutional complementarity in legal positions the relationship between private orderings and the role of the State in enforcing contracts and defining property rights the nature and dynamics of endogenous enforcement and the analysis of governance models and corporate ethics. Part of the renowned Siena Studies in Political Economy series, this book will be an essential read for postgraduates and researchers in the fields of law and economics, and the economics of institutions.

In recent years the understanding of the cognitive foundations of economic behavior has become increasingly important. This volume contains contributions from such leading scholars as Adam Brandenburger, Michael Bacharach and Patrick Suppes. It will be of great interest to academics and researchers involved in the field of economics and psychology as well as those interested in political economy more generally.

First published in 1986, this title argues that the successful development of a new microeconomics requires a deeper understanding of methodological individualism and its role in stability analysis. Lawrence Boland expounds a critique of neoclassical models, which, he contends, often fail to include an explicit stability analysis. He demonstrates that much of the sophisticated theoretical literature over the past thirty years can be understood as ad hoc attempts to overcome the deficiencies of such models in the absence of cogent stability analyses. In conclusion, he explains the need to update the theory taught at universities, and to develop a truly individualist version of microeconomics that is consistent with the methodological principles of major neoclassical models. An important contribution to economic methodology, this work is a highly valuable resource for all students and teachers of economics at the undergraduate level.

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.

Most volumes in the environmental economics literature consider the environment to be a public good and hence write out a role for the private sector in a source of supply. Yet there is ample evidence of the private sector being involved, driven both by profit and altruism. This book provides the necessary conceptual base for the inclusion of the private sector in the environmental protection supply equation and deliver an extensive set of examples in a wide range of contexts. In an economic climate where governments are attempting to reduce expenditures, the increased role for the private sector will be readily embraced by policy makers.The aim of the book is to establish the principles of markets in the provision of environmental protection and to provide an extensive experience-based set of contexts in which the private sector has acted to enhance the supply of environmental goods and services. These contexts include both pure-private sector initiatives in terrestrial, aquatic and marine ecosystems and public-private sector 'joint initiatives' such as payment for environmental services (PES) schemes.

Despite the dynamic development of the discipline of economics, the ways in which economics is taught and how it defines its basic principles have hardly changed, resulting in economics being criticised for its inability to provide relevant insights on global challenges. In response, this book defines new principles of economics and seeks to establish economics as the science of markets. A New Principles of Economics provides an alternative conceptual framework for the study of economics, integrating recent developments and research in both economics and neighbouring social sciences. Adopting the structure of a standard principles text, it separates the study of markets as mechanisms and markets in their wider contexts. In doing so, a number of new perspectives are introduced, including approaching the economy as part and parcel of the Earth system; directly connecting the analysis of production with an analysis of technology and thermodynamic principles; explicitly treating markets as forms of social networks mediated by the institution of money; and reinstating the central role of distribution in political economy analysis. Drawing on the latest theories and research on the economy, and including both the natural and social sciences, this text provides a holistic introduction suitable for postgraduates and other advanced students.

This volume gathers together key new contributions on the subject of the relationship, both empirical and theoretical, between economic oscillations, growth and structural change. Employing a sophisticated level of mathematical modelling, the collection contains articles from, amongst others, William Baumol, Katsuhito Iwai and William Brock.

There are many textbooks for business students that provide a systematic, introductory development of the economics of financial markets. However, there are as yet no introductory textbooks aimed at more easily daunted undergraduate liberal arts students. Introduction to the Economics of Financial Markets fills this gap by providing an extremely accessible introductory exposition of how economists analyze both how, and how well, financial markets organize the intertemporal allocation of scarce resources. The central theme is that the function of a system of financial markets is to enable consumers, investors, and managers of firms to effect mutually beneficial intertemporal exchanges. James Bradfield uses the standard concept of economic efficiency (Pareto Optimality) to assess the efficacy of the financial markets. He presents an intuitive, and introductory, understanding of the primary theoretical and empirical models that economists use to analyze financial markets, and then uses these models to discuss implications for public policy. Students who use this text will acquire an understanding of the economics of financial markets that will enable them to read, with some sophistication, articles in the public press about financial markets and about public policy toward those markets. The book is addressed to undergraduate students in the liberal arts, but will also be useful for undergraduate and beginning graduate students in programs of business administration who want an understanding of how economists assess financial markets against the criteria of allocative and informational efficiency.