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This is the second book celebrating Brian Loasby's contribution to
economics by an internationally renowned group of authors including
Mark Casson, G.B. Richardson, Nicolai Foss, Keith Pavitt, Martin
Fransman and Richard Day. It extends Brian Loasby's work in the
area of the theory of the firm and related methodological issues.
This book is mainly concerned with the theory of the firm, a
subject central to much of Brian Loasby's work. The authors begin
by considering the existence and nature of firms and their internal
and external relations, paying special attention to the themes of
coordination and communication costs in a world of surprise and
change. The discussion then moves on to the way in which firms use
and create knowledge and capabilities, referring to questions of
organization, with some detailed empirical investigation of high
technology industries. The final part focuses on methodological
issues including rationality, knowledge, incommensurability and
equilibrium, in the context of different traditions. This book will
be welcomed by microeconomists especially those interested in the
theory of the firm and methodology.
Monetary Scenarios is an original synthesis of post Keynesian
macroeconomic and monetary theory with the new microeconomics of
the behavioural, transaction cost and public choice theorists.
These theoretical ideas are integrated with recent historical and
institutional material from the United Kingdom, the United States
and Australasia.
This book is an integrated collection of a dozen of Peter Earl's
lively and thought-provoking essays, carefully edited and updated.
Theoretical topics include the prediction of corporate behaviour,
the economic foundations of marketing and shopping mall design,
pricing strategy and its relationship with the existence of
second-hand markets, and the microfoundations of macroeconomics.
Case studies include cooperation in the car industry, managerialist
reforms in New Zealand and the university sector, structural change
in the advertising industry and the place of G.B. Richardson and
G.L.S. Shackle in the literature of economics.Information,
Opportunism and Economic Coordination will be of particular
interest to historians of economic thought, business economists,
behavioural economists and Post Keynesians.
Herbert A. Simon has been a leading contributor to cognitive
psychology, computer science, public administration, philosophy and
statistics, and is the winner of the 1978 Nobel Memorial Prize in
economics. As this collection demonstrates, his impact on economics
has been felt in areas as diverse as the theory of the firm and
economic organization, consumer behaviour, law and economics, and
environmental economics. Central to his work is the notion of
bounded rationality - the mismatch between human decision-making
capacities and the scale of the decision problems that people face,
which results in satisficing rather than optimizing behaviour - and
his belief that economic research should start from the study of
actual behaviour rather than being based on convenient but
unrealistic assumptions. Peter Earl's choice of articles shows both
the kind of economics that emerges when Simon's philosophy is
followed comprehensively, and what happens when neo-classical
economists partially adopt his ideas.
Microeconomics for Business and Marketing is an innovative new text
for intermediate-level students of microeconomics which offers a
series of alternative approaches to economic analysis."And now for
something completely different". So starts the preface to Peter
Earl's new book. And he is right. He has put together a superbly
interesting, intellectually challenging book. It is a book that
covers not only the basics of intermediate microeconomics, but also
relates microeconomics both to real world business decisions and to
the literature wherein the ideas developed. An intermediate micro
student who masters this book will be a well trained student.
Earl's book will be useful not only to intermediate students, but,
perhaps even more so, to graduate students and to faculty teaching
intermediate micro and managerial economics. It gives
microeconomics both an intellectual context and institutional
context for microeconomics. It also contains a wealth of real world
examples and discussions of how microeconomic reasoning applies to
business. The wealth of essays and problems in the book will be
challenging to everyone. This textbook is especially relevant to
students of business and commerce since it emphasises practical
problem solving and helps readers develop skills in choosing
appropriate theoretical 'tools' to deal with particular types of
'real world' problems. While other microeconomics texts focus on
mainstream technical set pieces, this book explores, compares and
contrasts the tools of both mainstream microeconomic analysis and
the behavioural/new institutionalist approaches associated with
recent Nobel Laureates Herbert Simon and Ronald Coase. This wider
theoretical coverage enables a broader range of practical topics to
be addressed, including policy implications of consumer decision
processes, and the economics of corporate strategy. Key features of
this book include: Worked essays and case study questions within
the chapters, as well as post-mortem' reports on examination
questions that have been set to classes using this material.
Overview chapters on theories of decision-making and consumer
choice and theories of business behaviour. Extensive coverage of
the economics of uncertainty, including scenario planning,
bargaining and competitive games. Emphasizes and analyses on the
significance of technological change, and the variety of methods
used to organize modern business activities, such as franchising,
joint ventures and multinational enterprises. Microeconomics for
Business and Marketing is a wide-ranging, innovative textbook which
will stimulate students and teachers alike. It will be of
particular relevance to students of marketing, commerce and
business strategy. Specifically designed with today's larger class
sizes in mind, the book encourages students to question and to
develop both analytical and written skills, as well as to use
economics as a tool for problem solving.
Microeconomics for Business and Marketing is an innovative new text
for intermediate-level students of microeconomics which offers a
series of alternative approaches to economic analysis."And now for
something completely different". So starts the preface to Peter
Earl's new book. And he is right. He has put together a superbly
interesting, intellectually challenging book. It is a book that
covers not only the basics of intermediate microeconomics, but also
relates microeconomics both to real world business decisions and to
the literature wherein the ideas developed. An intermediate micro
student who masters this book will be a well trained student.
Earl's book will be useful not only to intermediate students, but,
perhaps even more so, to graduate students and to faculty teaching
intermediate micro and managerial economics. It gives
microeconomics both an intellectual context and institutional
context for microeconomics. It also contains a wealth of real world
examples and discussions of how microeconomic reasoning applies to
business. The wealth of essays and problems in the book will be
challenging to everyone. This textbook is especially relevant to
students of business and commerce since it emphasises practical
problem solving and helps readers develop skills in choosing
appropriate theoretical 'tools' to deal with particular types of
'real world' problems. While other microeconomics texts focus on
mainstream technical set pieces, this book explores, compares and
contrasts the tools of both mainstream microeconomic analysis and
the behavioural/new institutionalist approaches associated with
recent Nobel Laureates Herbert Simon and Ronald Coase. This wider
theoretical coverage enables a broader range of practical topics to
be addressed, including policy implications of consumer decision
processes, and the economics of corporate strategy. Key features of
this book include: Worked essays and case study questions within
the chapters, as well as post-mortem' reports on examination
questions that have been set to classes using this material.
Overview chapters on theories of decision-making and consumer
choice and theories of business behaviour. Extensive coverage of
the economics of uncertainty, including scenario planning,
bargaining and competitive games. Emphasizes and analyses on the
significance of technological change, and the variety of methods
used to organize modern business activities, such as franchising,
joint ventures and multinational enterprises. Microeconomics for
Business and Marketing is a wide-ranging, innovative textbook which
will stimulate students and teachers alike. It will be of
particular relevance to students of marketing, commerce and
business strategy. Specifically designed with today's larger class
sizes in mind, the book encourages students to question and to
develop both analytical and written skills, as well as to use
economics as a tool for problem solving.
P.W.S. Andrews was a pioneer of fieldwork-based analysis of the
behaviour of firms and of the normal cost/mark-up approach to
pricing in oligopolistic markets, as well as a significant
participant in debates about competition policy during the 1950s
and 1960s. This important book includes essays and papers which are
central to an understanding of Andrews's work. The Economics of
Competitive Enterprise commences with an example of his case study
work and continues with chapters on costs and price setting,
theories of the firm and competitive analysis, investment behaviour
and aspects of competition in retail trade as well as essays on the
methodology of industrial economics. Including previously
unpublished material, such as a critique of the development of
price theory and significant correspondence between Andrews and
other leading economists, this volume offers a remarkable insight
into the process of economic discourse since 1945. In addition to a
full bibliography, the book also includes an extensive introductory
essay by Frederic Lee as well as an epilogue by Peter Earl on the
legacy of Andrews's industrial economics. This book will be of
interest to a wide range of readers in economics departments and
business schools, including microeconomic analysts, industrial
economists, historians of economic thought and marketing theorists.
Behavioural Economics is a relatively new school of economic
thought and can encompass a number of strands such as 'new
institutional/transaction cost economics', economic psychology and
psychological economics, consumer behaviour and decision theory.
The papers presented here reveal something of the development,
philosophy and range of applicability of behavioural economics.
This major reference book provides an authoritative analysis and
survey of consumer research and economic psychology. It provides an
international, in-depth overview of the present state of knowledge
and theory which will be indispensable to students, researchers and
practitioners. The Companion presents over 100 specially
commissioned entries on important topics in consumer research and
economic psychology from behaviourism and brand loyalty to trust
and the psychology of tourism. Leading scholars in the fields
provide stimulating insights into the area as well as summarising
existing knowledge. Readers will find entries both on new topics
that have rarely been considered in the framework of consumer
research or economic psychology and on topics that have long been
considered important in these disciplines. The book will ably meet
the needs of undergraduate and graduate students in business
administration, economics, marketing and psychology, as well as
informing researchers and practitioners in those disciplines.
This book presents critical surveys of literature from behavioural
and evolutionary economics, management, marketing and business
history and offers new empirical evidence involving both case
studies and behavioural research. Particular attention is given to
transaction cost and resource-based perspectives on business
organization. The book concludes by discussing the emerging 'growth
of knowledge' and 'management without trade-offs' approaches to the
firm.Taken together, the inter-related chapters in this book make a
significant contribution by promoting and assisting research and
teaching on how managers cope with competitive pressures in the
present climate of rapid technological change, shifting patterns of
corporate alliances, continual restructuring and re-ranking of
relative competitive strengths, and rising environmental
expectations. Management, Marketing and the Competitive Process
will be particularly useful for courses on business strategy,
managerial and industrial economics, and marketing.
This major reference book provides an authoritative analysis and
survey of consumer research and economic psychology. It provides an
international, in-depth overview of the present state of knowledge
and theory which will be indispensable to students, researchers and
practitioners. The Companion presents over 100 specially
commissioned entries on important topics in consumer research and
economic psychology from behaviourism and brand loyalty to trust
and the psychology of tourism. Leading scholars in the fields
provide stimulating insights into the area as well as summarising
existing knowledge. Readers will find entries both on new topics
that have rarely been considered in the framework of consumer
research or economic psychology and on topics that have long been
considered important in these disciplines. The book will ably meet
the needs of undergraduate and graduate students in business
administration, economics, marketing and psychology, as well as
informing researchers and practitioners in those disciplines.
This is the first of two books in honour of Brian Loasby which
simultaneously pay tribute to the contributions he has made to
economics and extend the realm of Loasby-inspired economics. The
book includes new contributions from an internationally acclaimed
group of authors including Israel Kirzner, Peter Swann, Giovanni
Dosi, Peter Groenewegen, Richard Langlois and Don Lamberton.
Together, they draw on and extend Brian Loasby's work in developing
and applying theories of organization and knowledge. The book opens
with an introduction to Brian Loasby's career, influences and
research. This is followed by an examination of issues raised by
the analysis of markets and entrepreneurial behaviour, focusing on
Marshallian and Austrian approaches. In the middle of the volume
the human action theme is maintained but the focus is shifted onto
the dynamics of consumer demand. The final group of chapters apply
a history of economic thought perspective to problems of
information and knowledge, and aspects of scale and internal
organization. Economic Organization and Economic Knowledge will be
welcomed by those economists working in the areas of microeconomics
particularly markets, innovation, the theory of the firm,
consumption, information and knowledge and competition.
This book is unique among modern contributions to behavioral
economics in presenting a grand synthesis between the kind of
behavioral economics popularized by Richard Thaler, earlier
approaches such as those of the 1978 Nobel Laureate Herbert Simon,
evolutionary psychology, and evolutionary economics from Veblen and
Marshall through to neo-Schumpeterian thinking. The synthesis
employs a complex adaptive systems approach to how people think,
the lifestyles they build, and how new production technologies and
products are gradually adopted and produce changes. Using a huge
range of examples, it takes behavioral economics from its recent
focus on 'nudging' consumers, to the behavior of firms and other
organizations, the challenges of achieving structural change and
transitioning to environmentally sustainable lifestyles, and
instability of the financial system. This book will be of great
interest to academics and graduate students who seek a broader view
of what behavioral economics is and what it might become.
This book is unique among modern contributions to behavioral
economics in presenting a grand synthesis between the kind of
behavioral economics popularized by Richard Thaler, earlier
approaches such as those of the 1978 Nobel Laureate Herbert Simon,
evolutionary psychology, and evolutionary economics from Veblen and
Marshall through to neo-Schumpeterian thinking. The synthesis
employs a complex adaptive systems approach to how people think,
the lifestyles they build, and how new production technologies and
products are gradually adopted and produce changes. Using a huge
range of examples, it takes behavioral economics from its recent
focus on 'nudging' consumers, to the behavior of firms and other
organizations, the challenges of achieving structural change and
transitioning to environmentally sustainable lifestyles, and
instability of the financial system. This book will be of great
interest to academics and graduate students who seek a broader view
of what behavioral economics is and what it might become.
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