Ran Spiegler
- Published in print:
- 2011
- Published Online:
- September 2011
- ISBN:
- 9780195398717
- eISBN:
- 9780199896790
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195398717.001.0001
- Subject:
- Economics and Finance, Behavioural Economics
This book synthesizes recent developments in the theory of Industrial Organization, incorporating aspects of consumer psychology that are absent from the standard model of rational choice. The book ...
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This book synthesizes recent developments in the theory of Industrial Organization, incorporating aspects of consumer psychology that are absent from the standard model of rational choice. The book analyzes three classes of market models in which profit-maximizing firms interact with boundedly rational consumers, each capturing a different aspect of bounded consumer rationality: dynamically inconsistent preferences and biased beliefs regarding future preferences, limited ability to understand price complexity, and reference-dependent choice. These models address questions such as: Can we explain observed pricing, marketing and product differentiation strategies as equilibrium responses consumers' bounded rationality? Do market forces protect boundedly rational consumers from being exploited by firms? What is the role of market regulation and consumer protection policies in this regard? How do firms discriminate between consumers according to differences in their rationality? The book is meant to serve as a textbook for graduate courses in microeconomic theory, industrial organization or behavioral economics.Less
This book synthesizes recent developments in the theory of Industrial Organization, incorporating aspects of consumer psychology that are absent from the standard model of rational choice. The book analyzes three classes of market models in which profit-maximizing firms interact with boundedly rational consumers, each capturing a different aspect of bounded consumer rationality: dynamically inconsistent preferences and biased beliefs regarding future preferences, limited ability to understand price complexity, and reference-dependent choice. These models address questions such as: Can we explain observed pricing, marketing and product differentiation strategies as equilibrium responses consumers' bounded rationality? Do market forces protect boundedly rational consumers from being exploited by firms? What is the role of market regulation and consumer protection policies in this regard? How do firms discriminate between consumers according to differences in their rationality? The book is meant to serve as a textbook for graduate courses in microeconomic theory, industrial organization or behavioral economics.
Dr Lalita Som
- Published in print:
- 2014
- Published Online:
- December 2014
- ISBN:
- 9780199452736
- eISBN:
- 9780199084548
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199452736.001.0001
- Subject:
- Economics and Finance, Behavioural Economics
Theories of economic growth focused on physical capital and its diffusion till the 1950s. Since then, increasing attention has been paid to the role and utility of knowledge, human capital, ...
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Theories of economic growth focused on physical capital and its diffusion till the 1950s. Since then, increasing attention has been paid to the role and utility of knowledge, human capital, governance, institutions, and social capital as critical dimensions in determining economic growth and evolution. Focusing on the three forms of intangible capital—human, social, and institutional capital—this book looks at their dynamic linkages as crucial determinants of economic growth and their significance in the process of economic evolution. The book brings out this linkage at the macro level through case studies such as the growth experiences of Britain and America during the Industrial Revolution, Japan’s high growth post-WWII and its recent lackadaisical growth experiences, and the contemporary growth experiences of China and India. The book presents an analysis of the interaction between the three intangible capitals at the firm level to explain the micro phenomenon.Less
Theories of economic growth focused on physical capital and its diffusion till the 1950s. Since then, increasing attention has been paid to the role and utility of knowledge, human capital, governance, institutions, and social capital as critical dimensions in determining economic growth and evolution. Focusing on the three forms of intangible capital—human, social, and institutional capital—this book looks at their dynamic linkages as crucial determinants of economic growth and their significance in the process of economic evolution. The book brings out this linkage at the macro level through case studies such as the growth experiences of Britain and America during the Industrial Revolution, Japan’s high growth post-WWII and its recent lackadaisical growth experiences, and the contemporary growth experiences of China and India. The book presents an analysis of the interaction between the three intangible capitals at the firm level to explain the micro phenomenon.
Luigino Bruni and Pier Luigi Porta (eds)
- Published in print:
- 2005
- Published Online:
- February 2006
- ISBN:
- 9780199286287
- eISBN:
- 9780191603006
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199286280.001.0001
- Subject:
- Economics and Finance, Behavioural Economics
This is the first comprehensive book on the return of happiness in economics. It still sounds comparatively unusual to put happiness and economics together. At the same time, the association appears ...
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This is the first comprehensive book on the return of happiness in economics. It still sounds comparatively unusual to put happiness and economics together. At the same time, the association appears increasingly exciting and fruitful, and quite a number of studies have been produced following Richard Easterlin’s and Tibor Scitovsky’s pioneering works through the 1970s. The essays collected in this book provide an authoritative and comprehensive assessment - theoretical, applied, and partly experimental - of the entire field moving from the so-called paradoxes of happiness in economics. The book breaks new ground on the recent directions of research on happiness, well-being, interpersonal relations, and reciprocity. The meaning of happiness is thoroughly explored, and the tension between a hedonic-subjective idea of happiness and a eudaimonic-objective one is discussed.Less
This is the first comprehensive book on the return of happiness in economics. It still sounds comparatively unusual to put happiness and economics together. At the same time, the association appears increasingly exciting and fruitful, and quite a number of studies have been produced following Richard Easterlin’s and Tibor Scitovsky’s pioneering works through the 1970s. The essays collected in this book provide an authoritative and comprehensive assessment - theoretical, applied, and partly experimental - of the entire field moving from the so-called paradoxes of happiness in economics. The book breaks new ground on the recent directions of research on happiness, well-being, interpersonal relations, and reciprocity. The meaning of happiness is thoroughly explored, and the tension between a hedonic-subjective idea of happiness and a eudaimonic-objective one is discussed.
Daniel Friedman and Barry Sinervo
- Published in print:
- 2016
- Published Online:
- August 2016
- ISBN:
- 9780199981151
- eISBN:
- 9780190466657
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199981151.001.0001
- Subject:
- Economics and Finance, Behavioural Economics
This book’s goal is to introduce evolutionary game theory to applied researchers in a manner accessible to graduate students and advanced undergraduates in biology, economics, engineering, and allied ...
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This book’s goal is to introduce evolutionary game theory to applied researchers in a manner accessible to graduate students and advanced undergraduates in biology, economics, engineering, and allied disciplines. Chapters 1 through 6 present the basic ideas and techniques of this field, including fitness, replicator dynamics, memes and genes, single- and multiple-population games, Nash equilibrium and evolutionarily stable states, noisy best response and other adaptive processes, the Price equation, cellular automata, and estimating payoff and choice parameters from the data. Chapters 7 through 14 collect exemplary applications from many fields, providing templates for applied work everywhere. These include a new co-evolutionary predator-prey learning model extending the rock-paper-scissors game; using human subject laboratory data to estimate models of learning in games; new approaches to plastic strategies and life cycle strategies, including estimates for male elephant seals; a comparison of machine-learning techniques for preserving diversity to those seen in the natural world; analyses of congestion in traffic networks (either Internet or highways)Less
This book’s goal is to introduce evolutionary game theory to applied researchers in a manner accessible to graduate students and advanced undergraduates in biology, economics, engineering, and allied disciplines. Chapters 1 through 6 present the basic ideas and techniques of this field, including fitness, replicator dynamics, memes and genes, single- and multiple-population games, Nash equilibrium and evolutionarily stable states, noisy best response and other adaptive processes, the Price equation, cellular automata, and estimating payoff and choice parameters from the data. Chapters 7 through 14 collect exemplary applications from many fields, providing templates for applied work everywhere. These include a new co-evolutionary predator-prey learning model extending the rock-paper-scissors game; using human subject laboratory data to estimate models of learning in games; new approaches to plastic strategies and life cycle strategies, including estimates for male elephant seals; a comparison of machine-learning techniques for preserving diversity to those seen in the natural world; analyses of congestion in traffic networks (either Internet or highways)
Elliot Bendoly, Wout van Wezel, and Daniel G. Bachrach (eds)
- Published in print:
- 2015
- Published Online:
- May 2015
- ISBN:
- 9780199357215
- eISBN:
- 9780190239336
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199357215.001.0001
- Subject:
- Economics and Finance, Behavioural Economics
This book provides insights into behavioral phenomena common to production and service settings. The text provides ready-to-play games and other activities that allow instructors to demonstrate the ...
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This book provides insights into behavioral phenomena common to production and service settings. The text provides ready-to-play games and other activities that allow instructors to demonstrate the phenomena in class and corporate training settings, and applicable prescriptions for practice. The text relates biases and heuristics leveraged by workers and managers to their motivations and the complex real-world dynamics of a variety of operations management and supply chain contexts. In doing so it works to elevate systems thinking perspectives and their effectiveness in these settings. In particular, game play and activities described in the contributed chapters are specifically targeted at strengthening the ability of managers to make sense of cause and effect in complex modern organizations.Less
This book provides insights into behavioral phenomena common to production and service settings. The text provides ready-to-play games and other activities that allow instructors to demonstrate the phenomena in class and corporate training settings, and applicable prescriptions for practice. The text relates biases and heuristics leveraged by workers and managers to their motivations and the complex real-world dynamics of a variety of operations management and supply chain contexts. In doing so it works to elevate systems thinking perspectives and their effectiveness in these settings. In particular, game play and activities described in the contributed chapters are specifically targeted at strengthening the ability of managers to make sense of cause and effect in complex modern organizations.
Guillaume R. Fréchette and Andrew Schotter (eds)
- Published in print:
- 2015
- Published Online:
- March 2015
- ISBN:
- 9780195328325
- eISBN:
- 9780190202187
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195328325.001.0001
- Subject:
- Economics and Finance, Behavioural Economics
This book confronts and debates the issues faced by the growing field of experimental economics. For example, as experimental work attempts to test theory, it raises questions about the proper ...
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This book confronts and debates the issues faced by the growing field of experimental economics. For example, as experimental work attempts to test theory, it raises questions about the proper relationship between theory and experiments. As experimental results are used to inform policy, the utility of these results outside the lab is questioned, and finally, as experimental economics tries to integrate ideas from other disciplines like psychology and neuroscience, the question of their proper place in the discipline of economics becomes less clear. The book is divided into four sections, each of which features a set of chapters and a set of comments on those chapters. The book offers a place where ideas about methodology could be discussed and even argued. Some of the chapters are contentious—a healthy sign of a dynamic discipline—while others lay out a vision for thought on how experimental economics should be pursued.Less
This book confronts and debates the issues faced by the growing field of experimental economics. For example, as experimental work attempts to test theory, it raises questions about the proper relationship between theory and experiments. As experimental results are used to inform policy, the utility of these results outside the lab is questioned, and finally, as experimental economics tries to integrate ideas from other disciplines like psychology and neuroscience, the question of their proper place in the discipline of economics becomes less clear. The book is divided into four sections, each of which features a set of chapters and a set of comments on those chapters. The book offers a place where ideas about methodology could be discussed and even argued. Some of the chapters are contentious—a healthy sign of a dynamic discipline—while others lay out a vision for thought on how experimental economics should be pursued.
Andrew E. Clark and Claudia Senik (eds)
- Published in print:
- 2014
- Published Online:
- January 2015
- ISBN:
- 9780198723653
- eISBN:
- 9780191790744
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198723653.001.0001
- Subject:
- Economics and Finance, Behavioural Economics
This book analyzes the relationship between income and subjective well-being, in particular in the increasingly relevant context of developing countries. A number of chapters in the book set out new ...
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This book analyzes the relationship between income and subjective well-being, in particular in the increasingly relevant context of developing countries. A number of chapters in the book set out new evidence to explain why, despite the remarkable rate of economic growth that has been experienced in the country, the average level of happiness in China appears not to have risen. The various arguments raised in these chapters appeal to a number of matters such as increased insecurity, unemployment, adaptation to new higher living standards, and peer comparison. The collection also contains more mitigated points of view with regard to welfare in developing countries, taking as their basis the role of income growth in reducing the risk of low well-being, as well as more generally the inherent difficulties involved when studies attempt to use self-reported well-being measures as a metric of development.Less
This book analyzes the relationship between income and subjective well-being, in particular in the increasingly relevant context of developing countries. A number of chapters in the book set out new evidence to explain why, despite the remarkable rate of economic growth that has been experienced in the country, the average level of happiness in China appears not to have risen. The various arguments raised in these chapters appeal to a number of matters such as increased insecurity, unemployment, adaptation to new higher living standards, and peer comparison. The collection also contains more mitigated points of view with regard to welfare in developing countries, taking as their basis the role of income growth in reducing the risk of low well-being, as well as more generally the inherent difficulties involved when studies attempt to use self-reported well-being measures as a metric of development.
Bernard M. S. van Praag and Ada Ferrer-i-Carbonell
- Published in print:
- 2007
- Published Online:
- May 2008
- ISBN:
- 9780199226146
- eISBN:
- 9780191718595
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199226146.001.0001
- Subject:
- Economics and Finance, Behavioural Economics
This book deals with satisfaction analysis, that is, the way humans evaluate many aspects of their situation. It focuses on that which precedes decision taking (i.e., judgements and evaluations, ...
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This book deals with satisfaction analysis, that is, the way humans evaluate many aspects of their situation. It focuses on that which precedes decision taking (i.e., judgements and evaluations, likes and dislikes) on which preference orderings are based. Although written by two economists, the book covers many fields in the social sciences in the broadest sense, including psychology, sociology, and political science, with the aim of promoting discussion between the disciplines. It presents methodologies by which satisfaction can be analysed.Less
This book deals with satisfaction analysis, that is, the way humans evaluate many aspects of their situation. It focuses on that which precedes decision taking (i.e., judgements and evaluations, likes and dislikes) on which preference orderings are based. Although written by two economists, the book covers many fields in the social sciences in the broadest sense, including psychology, sociology, and political science, with the aim of promoting discussion between the disciplines. It presents methodologies by which satisfaction can be analysed.
Robert Pitofsky (ed.)
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780195372823
- eISBN:
- 9780199871773
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195372823.001.0001
- Subject:
- Economics and Finance, Behavioural Economics
This book came about due to the growing concern that antitrust, a system of regulation that for over a century has had wide professional and public support, is under attack. The recent trend appears ...
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This book came about due to the growing concern that antitrust, a system of regulation that for over a century has had wide professional and public support, is under attack. The recent trend appears to be toward more limited interpretation of doctrine (especially in the Supreme Court) and less aggressive federal enforcement. Part of the reason for the decline in enforcement is that for almost fifty years extremely conservative economic analysis (sometimes referred to as “Chicago School”) has dominated scholarship in the area. With the exceptionally liberal “Warren Court” as their target, two brilliant academics, Richard Posner and Robert Bork, led a small army of academics in devastating criticism of the output of the Warren Court. Those in favor of the Chicago School's limited and strictly economic approach were handed an enormous political boost when President Ronald Reagan announced that “government was the problem and not the solution.” Contributing towards this collection of chapters are Republicans and Democrats, lawyers and scholars left of center and right of center, one-time antitrust enforcers, and private sector representatives. Virtually all share the view that antitrust is better today, more rigorous, more reasonable, more sophisticated in terms of economics, than it was forty or fifty years ago. But virtually all also confess to a sense of unease about the current direction of antitrust interpretation and enforcement. Specific concerns include current preferences for economic models over facts, the tendency to assume that the free market will cure all market imperfections, the belief that only efficiency matters, and outright mistakes in matters of doctrine.Less
This book came about due to the growing concern that antitrust, a system of regulation that for over a century has had wide professional and public support, is under attack. The recent trend appears to be toward more limited interpretation of doctrine (especially in the Supreme Court) and less aggressive federal enforcement. Part of the reason for the decline in enforcement is that for almost fifty years extremely conservative economic analysis (sometimes referred to as “Chicago School”) has dominated scholarship in the area. With the exceptionally liberal “Warren Court” as their target, two brilliant academics, Richard Posner and Robert Bork, led a small army of academics in devastating criticism of the output of the Warren Court. Those in favor of the Chicago School's limited and strictly economic approach were handed an enormous political boost when President Ronald Reagan announced that “government was the problem and not the solution.” Contributing towards this collection of chapters are Republicans and Democrats, lawyers and scholars left of center and right of center, one-time antitrust enforcers, and private sector representatives. Virtually all share the view that antitrust is better today, more rigorous, more reasonable, more sophisticated in terms of economics, than it was forty or fifty years ago. But virtually all also confess to a sense of unease about the current direction of antitrust interpretation and enforcement. Specific concerns include current preferences for economic models over facts, the tendency to assume that the free market will cure all market imperfections, the belief that only efficiency matters, and outright mistakes in matters of doctrine.
Tilman Börgers
- Published in print:
- 2015
- Published Online:
- May 2015
- ISBN:
- 9780199734023
- eISBN:
- 9780190244699
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199734023.001.0001
- Subject:
- Economics and Finance, Behavioural Economics
What is the best way to auction an asset? How should a group of people organize themselves to ensure the best provision of public goods? How should exchanges be organized? This book addresses these ...
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What is the best way to auction an asset? How should a group of people organize themselves to ensure the best provision of public goods? How should exchanges be organized? This book addresses these questions and more through an exploration of the economic theory of mechanism design. Mechanism design is reverse game theory. Whereas game theory takes the rules of the game as a given and makes predictions about the behavior of strategic players, the theory of mechanism design goes a step further and selects the optimal rules of the game. A relatively new economic theory, mechanism design studies the instrument itself as well as the results of the instrument. This book provides explanations of classic results in the theory of mechanism design, such as Myerson's theorem on expected revenue maximizing auctions, Myerson and Satterthwaite's theorem on the impossibility of ex post efficient bilateral trade with asymmetric information, and Gibbard and Satterthwaite's theorem on the non-existence of dominant strategy voting mechanisms. It also provides an examination of the frontiers of current research in the area.Less
What is the best way to auction an asset? How should a group of people organize themselves to ensure the best provision of public goods? How should exchanges be organized? This book addresses these questions and more through an exploration of the economic theory of mechanism design. Mechanism design is reverse game theory. Whereas game theory takes the rules of the game as a given and makes predictions about the behavior of strategic players, the theory of mechanism design goes a step further and selects the optimal rules of the game. A relatively new economic theory, mechanism design studies the instrument itself as well as the results of the instrument. This book provides explanations of classic results in the theory of mechanism design, such as Myerson's theorem on expected revenue maximizing auctions, Myerson and Satterthwaite's theorem on the impossibility of ex post efficient bilateral trade with asymmetric information, and Gibbard and Satterthwaite's theorem on the non-existence of dominant strategy voting mechanisms. It also provides an examination of the frontiers of current research in the area.
Justice and Legitimacy in Upbringing
Clausewitz's Puzzle
International Legitimacy and World Society
Multicultural Nationalism
Levelling the Playing Field
The Politics of Public Service Bargains
Corporate Governance, Competition, and Political Parties
Citizenship and the Environment
New Labour at the Centre
