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The Microeconomics of Complex Economies

The Microeconomics of Complex Economies
  • Author : Wolfram Elsner,Torsten Heinrich,Henning Schwardt
  • Publisher :Unknown
  • Release Date :2014-04-15
  • Total pages :600
  • ISBN : 9780124115996
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Summary : The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. It covers topics of information and innovation, including national and regional systems of innovation; clustered and networked firms; and open-source/open-innovation production and use. Its final chapter on policy perspectives and decisions confirms the value of the toolset. Written so chapters can be used independently, the book includes an introduction to computer simulation and pedagogical supplements. Its formal, accessible treatment of complexity goes beyond the scopes of neoclassical and mainstream economics. The highly interdependent economy of the 21st century demands a reconsideration of economic theories. Describes the usefulness of complex heterodox economics Emphasizes divergences and convergences with neoclassical economic theories and perspectives Fits easily into courses on intermediate microeconomics, industrial organization, and games through self-contained chapters

Exam Prep for: The Microeconomics of Complex Economies

Exam Prep for: The Microeconomics of Complex Economies
  • Author : Anonim
  • Publisher :Unknown
  • Release Date :2021
  • Total pages :229
  • ISBN : 1230987654XX
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Summary :

Microeconomics of Interactive Economies

Microeconomics of Interactive Economies
  • Author : Wolfram Elsner
  • Publisher :Unknown
  • Release Date :2012-01-01
  • Total pages :272
  • ISBN : 9781781953402
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Summary : A 'Non-Toxic' Intermediate Textbook 'Here, at last, we have the ideal textbook for microeconomics from an evolutionary and institutional perspective. Wolfram Elsner does nothing less than reconstruct the principles of microeconomics for a world of interactive business networks, change and innovation, crisis and uncertainty, as well as coordination problems and cooperative joint ventures. The publication of this book is a landmark event in microeconomics.' – Phillip A. O'Hara, Curtin University of Technology, Perth, Australia and President-Elect of AFEE, 2012 'This microeconomics textbook by Wolfram Elsner provides a timely alternative for understanding the micro roots of uncertainty, complexity and crisis. The evolutionary and institutional perspective sheds new light on contemporary issues such as clusters, networks, innovation and coordination. By reading this textbook, teachers, students and practitioners will open their minds to new economic thinking.' – Ping Chen, Peking University, Beijing, Fudan University, Shanghai, China and author of Economic Complexity and Equilibrium Illusion This thorough reconstruction of microeconomics 'post-2008' provides economic students with a new way of real-world understanding and strategic qualification that will be better appreciated by their future employers and any professional practice. It will prove essential for economic students and other social science programs at a graduate level. This accessible and engaging textbook includes: • A survey of the most famous core models of modern microeconomics including the neoclassical approach and its heterodox critiques – Sraffian, Institutionalist, Post-Keynesian and Mirowskian • An introduction to complexity thinking in economics • An introduction to game theory • An introduction to the methods of complex computer simulation • An introduction to strategic behavior • An newly integrated approach to real-world and complexity economics, rather than focusing on neoclassical ('perfect') market equilibrium 'plus a thousand recent extra things on top'. See the companion website – www.microeconomics.us – for teaching material, readings, exams and as a general guide to explore issues raised in the book.

Innovation, Intellectual Property, and Economic Growth

Innovation, Intellectual Property, and Economic Growth
  • Author : Christine Greenhalgh,Mark Rogers
  • Publisher :Unknown
  • Release Date :2010-01-24
  • Total pages :366
  • ISBN : 9780691137995
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Summary : Christine Greenhalgh explains the complex process of innovation & how it sustains the growth of firms, industries & economies, combining microeconomic & macroeconomic analysis.

Economic Development for Everyone

Economic Development for Everyone
  • Author : Mark M. Miller
  • Publisher :Unknown
  • Release Date :2017-05-09
  • Total pages :238
  • ISBN : 9781317237440
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Summary : How do we create employment, grow businesses, and build greater economic resilience in our low-income communities? How do we create economic development for everyone, everywhere – including rural towns, inner-city neighborhoods, aging suburbs, and regions such as Appalachia, American Indian reservations, the Mexican border, and the Mississippi Delta – and not just in elite communities? Economic Development for Everyone collects, organizes, and reviews much of the current research available on creating economic development in low-income communities. Part I offers an overview of the harsh realities facing low-income communities in the US today; their many economic and social challenges; debates on whether to try reviving local economies vs. relocating residents; and current trends in economic development that emphasize high-tech industry and high levels of human capital. Part II organizes the sprawling literature of applied economic development research into a practical framework of five dynamic dimensions: empower your residents: begin with basic education; enhance your community: build on existing assets; encourage your entrepreneurs; diversify your economy; and sustain your development. This book, assembled and presented in a unified framework, will be invaluable for students and new researchers of economic development in low-income communities, and will offer new perspectives for established researchers, professional economic developers and planners, and public officials. Development practitioners and community leaders will also find new ideas and opportunities, along with a broad view on how the many complex parts of economic development interconnect.

Microeconomic Modeling in Urban Science

Microeconomic Modeling in Urban Science
  • Author : Francisco Martínez Concha
  • Publisher :Unknown
  • Release Date :2018-07-10
  • Total pages :294
  • ISBN : 9780128152973
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Summary : Microeconomic Modeling in Urban Science proposes an interdisciplinary framework for the analysis of urban systems. It portrays agents as rational beings modeled under the framework of random utility behavior and interacting in a complex market of location auctions, location externalities, agglomeration economies, transport accessibility attributes, and planning regulations and incentives. Francisco Javier Martinez Concha considers the optimal planning of cities as he explores interactions between citizens and between citizens and firms, the mesoscopic agglomeration of firms and the segregation of agents’ socioeconomic clusters, and the emergence of city-level scale laws. Its unified model of city life is relevant to micro-, meso- and macro-scale interactions. Presents a unified, coherent and realistic framework able to simulate complete urban systems Describes the use of discrete–choice and stochastic behavior models in the auction spatial-equilibrium market Includes computing outputs from Cube-Land modeling using GIS

Complex Economics

Complex Economics
  • Author : Alan Kirman
  • Publisher :Unknown
  • Release Date :2010-09-13
  • Total pages :272
  • ISBN : 9781136941672
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Summary : The economic crisis is also a crisis for economic theory. Most analyses of the evolution of the crisis invoke three themes, contagion, networks and trust, yet none of these play a major role in standard macroeconomic models. What is needed is a theory in which these aspects are central. The direct interaction between individuals, firms and banks does not simply produce imperfections in the functioning of the economy but is the very basis of the functioning of a modern economy. This book suggests a way of analysing the economy which takes this point of view. The economy should be considered as a complex adaptive system in which the agents constantly react to, influence and are influenced by, the other individuals in the economy. In such systems which are familiar from statistical physics and biology for example, the behaviour of the aggregate cannot be deduced from the behaviour of the average, or "representative" individual. Just as the organised activity of an ants’ nest cannot be understood from the behaviour of a "representative ant" so macroeconomic phenomena should not be assimilated to those associated with the "representative agent". This book provides examples where this can clearly be seen. The examples range from Schelling’s model of segregation, to contributions to public goods, the evolution of buyer seller relations in fish markets, to financial models based on the foraging behaviour of ants. The message of the book is that coordination rather than efficiency is the central problem in economics. How do the myriads of individual choices and decisions come to be coordinated? How does the economy or a market, "self organise" and how does this sometimes result in major upheavals, or to use the phrase from physics, "phase transitions"? The sort of system described in this book is not in equilibrium in the standard sense, it is constantly changing and moving from state to state and its very structure is always being modified. The economy is not a ship sailing on a well-defined trajectory which occasionally gets knocked off course. It is more like the slime described in the book "emergence", constantly reorganising itself so as to slide collectively in directions which are neither understood nor necessarily desired by its components.

Handbook of Empirical Economics and Finance

Handbook of Empirical Economics and Finance
  • Author : Aman Ullah,David E. A. Giles
  • Publisher :Unknown
  • Release Date :2016-04-19
  • Total pages :532
  • ISBN : 1420070363
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Summary : Handbook of Empirical Economics and Finance explores the latest developments in the analysis and modeling of economic and financial data. Well-recognized econometric experts discuss the rapidly growing research in economics and finance and offer insight on the future direction of these fields. Focusing on micro models, the first group of chapters describes the statistical issues involved in the analysis of econometric models with cross-sectional data often arising in microeconomics. The book then illustrates time series models that are extensively used in empirical macroeconomics and finance. The last set of chapters explores the types of panel data and spatial models that are becoming increasingly significant in analyzing complex economic behavior and policy evaluations. This handbook brings together both background material and new methodological and applied results that are extremely important to the current and future frontiers in empirical economics and finance. It emphasizes inferential issues that transpire in the analysis of cross-sectional, time series, and panel data-based empirical models in economics, finance, and related disciplines.

Health Care Economics

Health Care Economics
  • Author : John B. Davis,Robert McMaster
  • Publisher :Unknown
  • Release Date :2017-06-01
  • Total pages :218
  • ISBN : 9781317294016
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Summary : The analytical approach of standard health economics has so far failed to sufficiently account for the nature of care. This has important ramifications for the analysis and valuation of care, and therefore for the pattern of health and medical care provision. This book sets out an alternative approach, which places care at the center of an economics of health, showing how essential it is that care is appropriately recognized in policy as a means of enhancing the dignity of the individual. Whereas traditional health economics has tended to eschew value issues, this book embraces them, introducing care as a normative element at the center of theoretical analysis. Drawing upon care theory from feminist works, philosophy, nursing and medicine, and political economy, the authors develop a health care economics with a moral basis in health care systems. In providing deeper insights into the nature of care and caring, this book seeks to redress the shortcomings of the standard approach and contribute to the development of a more person-based approach to health and medical care in economics. Health Care Economics will be of interest to researchers and postgraduate students in health economics, heterodox economists, and those interested in health and medical care.

Debate the Issues

Debate the Issues
  • Author : Anonim
  • Publisher :Unknown
  • Release Date :2017-06-22
  • Total pages :104
  • ISBN : 926427152X
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Summary : - Foreword - Introduction: A complexity approach to economic challenges - Complexity and policy making - Complexity and economics - Complexity and the financial system - Applications of complexity theory - Towards a new narrative

Models in Microeconomic Theory ('She' Edition)

Models in Microeconomic Theory ('She' Edition)
  • Author : Ariel Rubinstein,Martin J. Osborne
  • Publisher :Unknown
  • Release Date :2020-03-27
  • Total pages :362
  • ISBN : 9781783748945
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Summary : Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and monopoly. Part II (Chapters 8-14) introduces the concept of equilibrium, beginning, unconventionally, with the models of the jungle and an economy with indivisible goods, and continuing with models of an exchange economy, equilibrium with rational expectations, and an economy with asymmetric information. Part III (Chapters 15-16) provides an introduction to game theory, covering strategic and extensive games and the concepts of Nash equilibrium and subgame perfect equilibrium. Part IV (Chapters 17-20) gives a taste of the topics of mechanism design, matching, the axiomatic analysis of economic systems, and social choice. The book focuses on the concepts of model and equilibrium. It states models and results precisely, and provides proofs for all results. It uses only elementary mathematics (with almost no calculus), although many of the proofs involve sustained logical arguments. It includes about 150 exercises. With its formal but accessible style, this textbook is designed for undergraduate students of microeconomics at intermediate and advanced levels.

Networking History

Networking History
  • Author : Hilton L. Root
  • Publisher :Unknown
  • Release Date :2020-03-31
  • Total pages :338
  • ISBN : 9781108488990
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Summary : Root shows how the tools of network analysis can be used to understand great transitions in global economic history.

Banks and Finance in Modern Macroeconomics

Banks and Finance in Modern Macroeconomics
  • Author : Bruna Ingrao,Claudio Sardoni
  • Publisher :Unknown
  • Release Date :2021
  • Total pages :296
  • ISBN : 9781786431530
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Summary : The world financial crisis of 2007–2008 dramatically showed the importance of credit and financial relations for the efficient working of the economy. For a long time mainstream macroeconomics ignored these aspects and concentrated only on the real sector or just took into account the most elementary picture of the financial side of the economy. This book aims at explaining why this happened through an historical excursion of 20th century mainstream macroeconomic theory.

Complexity and the Economy

Complexity and the Economy
  • Author : W. Brian Arthur
  • Publisher :Unknown
  • Release Date :2015
  • Total pages :211
  • ISBN : 9780199334292
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Summary : A collection of previous published papers by the author on the subject of complexity economics, appearing from the 1980s to the present.

Strengthening Development

Strengthening Development
  • Author : United Nations. Economic Commission for Latin America and the Caribbean
  • Publisher :Unknown
  • Release Date :1996
  • Total pages :116
  • ISBN : UTEXAS:059173004271671
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Summary :

Technological Change and Network Effects in Growth Regimes

Technological Change and Network Effects in Growth Regimes
  • Author : Torsten Heinrich
  • Publisher :Unknown
  • Release Date :2014-06-03
  • Total pages :384
  • ISBN : 9781136221170
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Summary : In this new volume it is argued that network effects are much more common than usually assumed, and that they have a profound impact on many aspects of economic systems, especially technological change and economic growth. The analysis and modelling of this interrelationship is the central focus of this book. While there exists a vast body of literature on economic growth, the theories put forward so far have had limited success in explaining observed patterns of economic growth. ‘Growth cycles’ in particular continue to elude standard economic models, though evolutionary economics has made some progress. Seeking to fill the gap, Torsten Heinrich’s innovative approach uses microeconomics to explain heterogeneous sectoral dynamics on the meso level, and then aggregating these to observed macroeconomic growth rates. In this way, it is shown that an evolutionary model of technological change with network effects can explain not only commonly observed asymmetric industry structures, monopolies and oligopolies but also ‘growth cycles’. The book includes a comprehensive account of the most influential economic growth theories, a discussion of the research on network effects as well as an introduction to the methodology, the model, and a case study on the recent emergence of information and communication technology. This important new volume will be relevant to all those interested in theoretical economics, growth theory, innovation economics, agent based modelling and industry dynamics.

A Framework for Assessing Effects of the Food System

A Framework for Assessing Effects of the Food System
  • Author : National Research Council,Institute of Medicine,Board on Agriculture and Natural Resources,Food and Nutrition Board,Committee on a Framework for Assessing the Health, Environmental, and Social Effects of the Food System
  • Publisher :Unknown
  • Release Date :2015-06-17
  • Total pages :444
  • ISBN : 9780309307833
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Summary : How we produce and consume food has a bigger impact on Americans' well-being than any other human activity. The food industry is the largest sector of our economy; food touches everything from our health to the environment, climate change, economic inequality, and the federal budget. From the earliest developments of agriculture, a major goal has been to attain sufficient foods that provide the energy and the nutrients needed for a healthy, active life. Over time, food production, processing, marketing, and consumption have evolved and become highly complex. The challenges of improving the food system in the 21st century will require systemic approaches that take full account of social, economic, ecological, and evolutionary factors. Policy or business interventions involving a segment of the food system often have consequences beyond the original issue the intervention was meant to address. A Framework for Assessing Effects of the Food System develops an analytical framework for assessing effects associated with the ways in which food is grown, processed, distributed, marketed, retailed, and consumed in the United States. The framework will allow users to recognize effects across the full food system, consider all domains and dimensions of effects, account for systems dynamics and complexities, and choose appropriate methods for analysis. This report provides example applications of the framework based on complex questions that are currently under debate: consumption of a healthy and safe diet, food security, animal welfare, and preserving the environment and its resources. A Framework for Assessing Effects of the Food System describes the U.S. food system and provides a brief history of its evolution into the current system. This report identifies some of the real and potential implications of the current system in terms of its health, environmental, and socioeconomic effects along with a sense for the complexities of the system, potential metrics, and some of the data needs that are required to assess the effects. The overview of the food system and the framework described in this report will be an essential resource for decision makers, researchers, and others to examine the possible impacts of alternative policies or agricultural or food processing practices.

Principles of Economics 2e

Principles of Economics 2e
  • Author : Steven A. Greenlaw,David Shapiro,Timoth Taylor
  • Publisher :Unknown
  • Release Date :2017-10-11
  • Total pages :229
  • ISBN : 1947172360
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Summary :

A Course in Microeconomic Theory

A Course in Microeconomic Theory
  • Author : David M. Kreps
  • Publisher :Unknown
  • Release Date :2020-06-23
  • Total pages :864
  • ISBN : 9780691215747
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Summary : David M. Kreps has developed a text in microeconomics that is both challenging and "user-friendly." The work is designed for the first-year graduate microeconomic theory course and is accessible to advanced undergraduates as well. Placing unusual emphasis on modern noncooperative game theory, it provides the student and instructor with a unified treatment of modern microeconomic theory--one that stresses the behavior of the individual actor (consumer or firm) in various institutional settings. The author has taken special pains to explore the fundamental assumptions of the theories and techniques studied, pointing out both strengths and weaknesses. The book begins with an exposition of the standard models of choice and the market, with extra attention paid to choice under uncertainty and dynamic choice. General and partial equilibrium approaches are blended, so that the student sees these approaches as points along a continuum. The work then turns to more modern developments. Readers are introduced to noncooperative game theory and shown how to model games and determine solution concepts. Models with incomplete information, the folk theorem and reputation, and bilateral bargaining are covered in depth. Information economics is explored next. A closing discussion concerns firms as organizations and gives readers a taste of transaction-cost economics.

Principles of Economics

Principles of Economics
  • Author : A. Marshall
  • Publisher :Unknown
  • Release Date :2013-12-05
  • Total pages :731
  • ISBN : 9781137375261
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Summary : Alfred Marshall, Principles of Economics (1890) – Founder of Modern (Neo-classical) Economics. His book Principles of Economics was the dominant textbook in economics for a long time and it is considered to be his seminal work.

Principles of Macroeconomics

Principles of Macroeconomics
  • Author : Douglas Curtis,Ian Irvine
  • Publisher :Unknown
  • Release Date :2016-03-23
  • Total pages :372
  • ISBN : 1539981355
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Summary : Principles of Macroeconomics is focused on the material that students need to cover in a first introductory course. It is slightly more compact than the majority of introductory macroeconomics books in the Canadian marketplace. Decades of teaching experience and textbook writing has led the authors to avoid the encyclopedic approach that characterizes the recent trends in textbooks. Consistent with this approach, there are no appendices or 'afterthought' chapters. If important material is challenging then it is still included in the main body of the text; it is not relegated elsewhere for a limited audience; the text makes choices on what issues and topics are important in an introductory course. This philosophy has resulted in a Macro book of just 13 chapters, with three introductory chapters common to both our Principles of Microeconomics and Macroeconomics books.Examples are domestic and international in their subject matter and are of the modern era - financial markets, monetary and fiscal policies aimed at inflation and debt control, globalization and the importance of trade flows in economic structure and concerns about slow growth and the risk of deflation are included. The title is intended to be informative. Students are introduced to the concepts of models early, and the working of such models is illustrated in every chapter. While this book avoids calculus and uses algebra sparingly, it still aims to be rigorous. In contrast to many books on the market that simply insert diagrams and discuss concepts in a diagrammatic framework, our books develop and analyze key concepts and relations by introducing numerical and empirical examples at the outset. Students are introduced immediately to the practice of taking a set of data, examining it numerically, plotting it and thinking about how it illustrates a concept or relationship. The process is not difficult but it is rigorous and stresses the link between empirical observation, economic theory, models and policy. Hence numerical examples, diagrams, and straight line equations and are introduced early and are used throughout.