Limits to Competition


Book Description

How can Europe, the United States, and Japan stop the technological, trade, and financial war on which they have increasingly and wastefully embarked? How can they direct the development and uses of science and technology and the economy in the interests of the well-being of the 8 billion people who will inhabit the planet in 2010-2020? Limits to Competitionboldly frames international political economy and globalization debates within the new overarching ideology of competition and offers a balancing voice. The word compete originally meant "to seek together," but in our time it has taken on more adversarial connotations and has become a rallying cry of both firms and governments, often with devastating consequences. Limits to Competitionexplores the question of whether free-market competition can indeed deliver the full range of needs for sustainable development. Is competition the best instrument for coping with increasingly severe environmental, demographic, economic, and social problems at a global level?




Operating Systems


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Topics in Mathematical Economics and Game Theory


Book Description

Since the publication of "Theory of Games and Economic Behavior" by von Neumann and Morgenstern, the concept of games has played an increasing role in economics. It also plays a role of growing importance in other sciences, including biology, political science, and psychology. Many scientists have made seminal advances and continue to be leaders in the field, including Harsanyi, Shapley, Shubik, and Selten. Professor Robert Aumann, in addition to his important contributions to game theory and economics, made a number of significant contributions to mathematics. This volume provides a collection of essays in mathematical economics and game theory, including cutting-edge research on noncooperative game theory and its foundations, bargaining theory, and general equilibrium theory. Also included is a reprint of Aumann's classic paper, "Acceptable Points in General Cooperative n-Person Games" and of the oft-cited, yet hard to find, paper by Maschler, "The Worth of a Cooperative Enterprise to Each Member". This book illustrates the wide range of applications of mathematics to economics, game theory, and social choice. The volume is dedicated to Professor Robert J. Aumann, Hebrew University, Jerusalem, Israel, for his contributions in mathematics and social sciences.




Narrative Economics


Book Description

From Nobel Prize–winning economist and New York Times bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic events—and why financial panics can spread like epidemic viruses Stories people tell—about financial confidence or panic, housing booms, or Bitcoin—can go viral and powerfully affect economies, but such narratives have traditionally been ignored in economics and finance because they seem anecdotal and unscientific. In this groundbreaking book, Robert Shiller explains why we ignore these stories at our peril—and how we can begin to take them seriously. Using a rich array of examples and data, Shiller argues that studying popular stories that influence individual and collective economic behavior—what he calls "narrative economics"—may vastly improve our ability to predict, prepare for, and lessen the damage of financial crises and other major economic events. The result is nothing less than a new way to think about the economy, economic change, and economics. In a new preface, Shiller reflects on some of the challenges facing narrative economics, discusses the connection between disease epidemics and economic epidemics, and suggests why epidemiology may hold lessons for fighting economic contagions.




Technical Abstract Bulletin


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Liquidity Black Holes


Book Description

This cutting-edge volume brings together a range of leading academics and market practitioners to help you define, understand and measure liquidity risk and 'liquidity black holes'.




Models of Economic Dynamics


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Statistical Inference from Stochastic Processes


Book Description

Comprises the proceedings of the AMS-IMS-SIAM Summer Research Conference on Statistical Inference from Stochastic Processes, held at Cornell University in August 1987. This book provides students and researchers with a familiarity with the foundations of inference from stochastic processes and intends to provide a knowledge of the developments.




Economic Growth And Transition: Econometric Analysis Of Lim's S-curve Hypothesis


Book Description

This book is the first of its kind to systematically analyze and apply Lim Chong Yah's S-Curve Hypothesis to the various facets of economic growth and economic transition. By augmenting the mathematical and economical sophistication of the hypothesis, this book extends the S-Curve hypothesis to provide further insight into economic growth and transition.It also utilizes a construction of a stochastic growth model to provide the microeconomic foundation for the S-Curve hypothesis. This model resolves the puzzle of why some developing countries experience economic take-off, while others do not. The book analyzes and extends discussion on the S-Curve, and also applies the S-Curve hypothesis to predict long-term growth in Japan and Singapore. It serves as an excellent resource for people interested in Lim's growth theory.