The Economics of Entrepreneurship


Book Description

Entrepreneurship is an integral part of economic change and growth. Yet until recently it has been largely neglected by economists. In The Economics of Entrepreneurship, Simon C. Parker draws on theoretical insights and recent empirical findings to show how economics can contribute to our understanding of entrepreneurship. The book is based on an earlier work, The Economics of Self-employment and Entrepreneurship (Cambridge, 2004), that has quickly become an essential reference for academics researching the economics of entrepreneurship. Written in a more accessible style, this book contains much that made this earlier work so successful and, in addition, includes improved pedagogical features and new material on the theory of the firm, spin-offs, nascent entrepreneurship, growth-enhancing knowledge spillovers and social entrepreneurship. It can be used both as a reference text for academics from a variety of disciplines and as a textbook for graduate students.




Illegal Online File Sharing, Decision-Analysis, and the Pricing of Digital Goods


Book Description

Illegal online file sharing costs companies tens of billions of dollars of lost revenues around the world annually and results in lost productivity, various psychological issues, and significant reduction of incentives to create and innovate. Legislative, technical, and enforcement efforts have failed. This book presents psychological theories about why people illegally share files online; analyzes and characterizes optimal sanctions for illegal online file sharing; introduces new models for pricing of network-access and digital-content to help reduce illegal online file sharing; introduces new content control and P2P systems; and explains why game theory does not work in pricing of network access.




Earnings Management, Fintech-Driven Incentives and Sustainable Growth


Book Description

Traditional research about Financial Stability and Sustainable Growth typically omits Earnings Management (as a broad class of misconduct), Complex Systems Theory, Mechanism Design Theory, Public Health, psychology issues, and the externalities and psychological effects of Fintech. Inequality, Environmental Pollution, Earnings Management opportunities, the varieties of complex Financial Instruments, Fintech, Regulatory Fragmentation, Regulatory Capture and real-financial sector-linkages are growing around the world, and these factors can have symbiotic relationships. Within Complex System theory framework, this book analyzes these foregoing issues, and introduces new behaviour theories, Enforcement Dichotomies, and critiques of models, regulations and theories in several dimensions. The issues analyzed can affect markets, and evolutions of systems, decision-making, "nternal Markets and risk-perception within government regulators, operating companies and investment entities, and thus they have Public Policy implications. The legal analysis uses applicable US case-law and statutes (which have been copied by many countries, and are similar to those of many common-law countries). Using Qualitative Reasoning, Capital Dynamics Theory (a new approach introduced in this book), Critical Theory and elements of Mechanism Design Theory, the book aims to enhance cross-disciplinary analysis of the above-mentioned issues; and to help researchers build better systems/Artificial-Intelligence/mathematical models in Financial Stability, Portfolio Management, Policy-Analysis, Asset Pricing, Contract Theory, Enforcement Theory and Fraud Detection. The primary audience for this book consists of university Professors, PHD students and PHD degree-holders (in industries, government agencies, financial services companies and research institutes). The book can be used as a primary or supplementary textbook for graduate courses in Regulation; Capital Markets; Law & Economics, International Political Economy and or Mechanism Design (Applied Math, Operations Research, Computer Science or Finance).




Liberalization in the Process of Economic Development


Book Description

Economic growth in all developing countries is guided, and often accelerated, by generally intrusive policies implemented by governments intent on playing an active role in furthering development. As economies have grown and become more complex, however, even small market distortions are magnified, and the tendency is to rely more heavily on the market for continued growth. In this volume, leading experts in economic development examine the variety of issues that arise as governments in some of the newly industrializing countries of Southeast Asia, such as South Korea, Taiwan, and Singapore, grapple with this difficult process of liberalization. This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1991.




Complex Systems, Multi-Sided Incentives and Risk Perception in Companies


Book Description

Most research about financial stability and sustainable growth focuses on the financial sector and macroeconomics and neglects the real sector, microeconomics and psychology issues. Real-sector and financial-sectors linkages are increasing and are a foundation of economic/social/environmental/urban sustainability, given financial crises, noise, internet, “transition economics”, disintermediation, demographics and inequality around the world. Within complex systems theory framework, this book analyses some multi-sided mechanisms and risk-perception that can have symbiotic relationships with financial stability, systemic risk and/or sustainable growth. Within the context of Regret Minimization, MN-Transferable Utility and WTAL, new theories-of-the-firm are developed that consider sustainable growth, price stability, globalization, financial stability and birth-to-death evolutions of firms. This book introduces new behaviour theories pertaining to real estate and intangibles, which can affect the evolutions of risk-taking and risk perception within organizations and investment entities. The chapters address elements of the dilemma of often divergent risk perceptions of, and risk-taking by corporate executives, regulators and investment managers.




Analyzing Oppression


Book Description

Analyzing Oppression presents a new, integrated theory of social oppression, which tackles the fundamental question that no theory of oppression has satisfactorily answered: if there is no natural hierarchy among humans, why are some cases of oppression so persistent? Cudd argues that the explanation lies in the coercive co-opting of the oppressed to join in their own oppression. This answer sets the stage for analysis throughout the book, as it explores the questions of how and why the oppressed join in their oppression. Cudd argues that oppression is an institutionally structured harm perpetrated on social groups by other groups using direct and indirect material, economic, and psychological force. Among the most important and insidious of the indirect forces is an economic force that operates through oppressed persons' own rational choices. This force constitutes the central feature of analysis, and the book argues that this force is especially insidious because it conceals the fact of oppression from the oppressed and from others who would be sympathetic to their plight. The oppressed come to believe that they suffer personal failings and this belief appears to absolve society from responsibility. While on Cudd's view oppression is grounded in material exploitation and physical deprivation, it cannot be long sustained without corresponding psychological forces. Cudd examines the direct and indirect psychological forces that generate and sustain oppression. She discusses strategies that groups have used to resist oppression and argues that all persons have a moral responsibility to resist in some way. In the concluding chapter Cudd proposes a concept of freedom that would be possible for humans in a world that is actively opposing oppression, arguing that freedom for each individual is only possible when we achieve freedom for all others.




Growth and Institutions in African Development


Book Description

Recent years have seen a sustained research effort exploring the African development experience. The extant literature has offered a large set of explanations as to why the African development record has lagged behind that of other regions of the developing world. This new volume brings international contributors together to focus on the role of growth and institutions. First, it provides brief evidence on the growth and institutional records, as well as on development outcomes, during the post-independence period. Second, it targets certain growth determinants, including industrial embeddedness, innovation, exchange rate regimes, and environmental quality. Third, it sheds light on the dynamics and distribution of growth, and on growth-enhancing sectors of the economy. Finally, it investigates several issues of institutional development, as well as institutions generating development outcomes. Though focused on these two key areas, the coverage strives to achieve a comprehensive analysis of how Africa’s development may have been enhanced or undermined and to offer lessons for the future. This volume is essential reading for all scholars of development economics and development studies.




Managing the Sovereign-Bank Nexus


Book Description

This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? What do we know about it? To what extent is it a source of concern? What is the role of policy intervention? The paper concludes with a review of recent policy proposals.




Finance and Growth


Book Description

"This paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth. While subject to ample qualifications and countervailing views, the preponderance of evidence suggests that both financial intermediaries and markets matter for growth and that reverse causality alone is not driving this relationship. Furthermore, theory and evidence imply that better developed financial systems ease external financing constraints facing firms, which illuminates one mechanism through which financial development influences economic growth. The paper highlights many areas needing additional research"--NBER website




Financial Crises Explanations, Types, and Implications


Book Description

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.