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Over the course of two decades, Urban Economics has achieved a
worldwide audience, and has been translated into Chinese, Greek,
Russian, and Korean. Like the eight previous editions, this edition
provides a clear and concise presentation of the economic forces
that: - cause the development of cities;- determine the spatial
form of cities;- cause urban economies to grow or shrink;- generate
urban problems such as poverty, crime, and congestion;- make the
market for urban housing unique; and- shape the tax and spending
policies of local governments. In addition to developing the basic
concepts of urban economics, the book uses economic analysis to
evaluate the merits of policies designed to address our most vexing
urban problems.
The text is designed as the main text for an undergraduate course
in Behavioral Economics, which is a growing course for students of
economics at the undergraduate level. The presentation is grounded
in microeconomics and traditional economic models to discuss
observed human behavior. The book presents models that show the
trade-offs between material benefits and social concerns. The
models incorporate social concerns such as altruism, guilt,
exploitation, fairness, and cognitive dissonance. Unlike many other
books on behavioral economics, the text is not a catalog of human
quirks. Although the book highlights all sorts of observed behavior
that appears irrational and misguided, it doesn't stop there. It
examines the possible motives for the puzzling behavior. For many
misguided and regrettable choices, we highlight actions taken to
control the behavior and mitigate the damage. We use the insights
of anthropologists and economists to explore the role of natural
selection in shaping human thinking and behavior. A decision that
appears irrational today may be understandable in the context of
millions of years of natural selection. Recent work explores the
role of natural selection in (i) loss aversion, (ii) the endowment
effect, (iii) time preferences, and (iv) responses to the
free-rider problem.
For Principles of Economics courses. Questions that drive interest,
applications that illustrate concepts, and the tools to test and
solidify comprehension. Students come into their first Economics
course thinking they will gain a better understanding of the
economy around them. Unfortunately, they often leave with many
unanswered questions. To ensure students actively internalize
economics, O'Sullivan/Sheffrin/Perez use chapter-opening questions
to spark interest on important economic concepts, applications that
vividly illustrate those concepts, and chapter-ending tools that
test and solidify understanding.
Property tax revolts have occurred both in the United States and
elsewhere. This book examines the causes and consequences of such
revolts with a special focus on the California experience with
Proposition 13. The work examines the consequences of property tax
limitations for public finance with a detailed analysis of the tax
system put into place in California. Theoretical approaches and
evidence from a comprehensive empirical study are used to highlight
the equity and efficiency of property tax systems. Since property
taxes are the primary source of revenue for local governments, the
book compares and contrasts the experiences of several states with
regard to the evolution of local government following property tax
limitations. Finally, the book considers alternatives for reform
and lessons to avoid future tax conflicts of this kind.
Property tax revolts have occurred both in the United States and
abroad. This book examines the causes and consequences of such
revolts, with a special focus on the California experience with
Proposition 13. The work examines the consequences of property tax
limitations for public finance with a detailed analysis of the tax
system put into place in California. New theoretical approaches and
new evidence from a comprehensive empirical study are used to
highlight the equity and efficiency of property tax systems. Since
property taxes are the primary source of revenue for local
governments, the book compares and contrasts the experiences of
several states with regard to the evolution of local government
following property tax limitations. Finally, the book considers
alternatives for reform and lessons to avoid future tax conflicts
of this kind.
O'Sullivan/Sheffrin makes use of Active Learning Tools which get
readers involved in role-playing, help them apply concepts, and
offer reinforcement of the material. The books hallmark feature
includes a focus on the 5 Key Principles of Economics: 1)
Opportunity Cost, 2) The Marginal Principle (comparing marginal
benefits and marginal costs), 3) Diminishing Returns, 4) The
Spillover Principle (for externalities in production and
consumption), and, 5) The Reality Principle (distinguishing real
from nominal magnitudes). For economists, financial analysts and
other finance professionals.
O'Sullivan/Sheffrin makes use of Active Learning Tools which get
readers involved in role-playing, help them apply concepts, and
offer reinforcement of the material. The books hallmark feature
includes a focus on the 5 Key Principles of Economics: 1)
Opportunity Cost, 2) The Marginal Principle (comparing marginal
benefits and marginal costs), 3) Diminishing Returns, 4) The
Spillover Principle (for externalities in production and
consumption), and, 5) The Reality Principle (distinguishing real
from nominal magnitudes). For economists, financial analysts and
other finance professionals.
Covering both Micro and Macroeconomics in one concise paperback
volume, this book shows readers how to think and act like an
economist by showing them how to use economic concepts in their
everyday lives and careers. Organized around the Five Key
Principles of Economics-The Principle of Opportunity Cost, The
Marginal Principle, The Principle of Diminishing Returns, The
Spillover Principle, and The Reality Principle. For economists and
those making financial decisions and analyses.
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