Advances in behavioral economics

Eds. Colin F.Camerer, George Loewenstein, and Matthew Rabin Twenty years ago, behavioral economics did not exist as a field. Most economists were deeply skeptical--even antagonistic--toward the idea of importing insights from psychology into their field. Today, behavioral economics has become virtually mainstream. It is ...

Quarter notes and banknotes

the economics of music composition in the eightenth and nineteenth centuries

In 1700, most composers were employees of noble courts or the church. But by the nineteenth century, Chopin, Schumann, Brahms, Verdi, and many others functioned as freelance artists teaching, performing, and selling their compositions in the private marketplace. While some believe that Mozart's career ...

The company of strangers

a natural history of economic life

Human beings are the only species in nature to have developed an elaborate division of labor between strangers. Even something as simple as buying a shirt depends on an astonishing web of interaction and organization that spans the world. But unlike that other uniquely human ...

Auctions

theory and practice

Governments use them to sell everything from oilfields to pollution permits, and to privatize companies; consumers rely on them to buy baseball tickets and hotel rooms, and economic theorists employ them to explain booms and busts. Auctions make up many of the world's most ...

Theory of games and economic behavior

This is the classic work upon which modern- day game theory is based. What began more than sixty years ago as a modest proposal that a mathematician and an economist write a short paper together blossomed, in 1944, when Princeton University Press published Theory of ...

Microfoundations of financial economics

an introduction to General Equilibrium Asset Pricing

This textbook takes the reader from the level of microeconomics principles through to modern asset pricing theory. Yvan Lengwiler elegantly links together issues that have in the past been the territory of general economic theorists on the one hand, and financial economists on the other ...

Interest rate models

an introduction

The field of financial mathematics has developed tremendously over the past thirty years, and the underlying models that have taken shape in interest rate markets and bond markets, being much richer in structure than equity-derivative models, are particularly fascinating and complex. This book introduces the ...

Credit risk modeling

theory and applications

David Lando considers the two broad approaches to credit risk analysis: that based on classical option pricing models on the one hand, and on a direct modeling of the default probability of issuers on the other. He offers insights that can be drawn from each ...

The new division of labor

how computers are creating the next job market

As the current recession ends, many workers will not be returning to the jobs they once held--those jobs are gone. In The New Division of Labor, Frank Levy and Richard Murnane show how computers are changing the employment landscape and how the right kinds of ...

Lawlessness and economics

alternative modes of governance

How can property rights be protected and contracts be enforced in countries where the rule of law is ineffective or absent? How can firms from advanced market economies do business in such circumstances? In Lawlessness and Economics, Avinash Dixit examines the theory of private institutions ...

The strictures of inheritance

the Dutch economy in the nineteenth century

A major feat of research and synthesis, this book presents the first comprehensive history of the Dutch economy in the nineteenth century--an important but poorly understood piece of European economic history. Based on a detailed reconstruction of extensive economic data, the authors account for demise ...

Self-policing in politics

The Political Economy of Reputational Controls on Politicians

Contrary to what news reports might suggest, the majority of politicians behave ethically and are never subject to investigations. Is this because of the elaborate system of rules Congress has constructed to regulate the conduct of its members as well as the fear of electoral ...

Empowered participation

Reinventing Urban Democracy.

Privileging industry

the comparative politics of trade and industrial policy

An important contribution to our understanding of how political institutions and political geography shape political outcomes. Fiona McGillivray argues that differences in political institutions or in industrial structures do not have the straightforward effects on political outcomes that are normally attributed to them. Instead, she ...

Unsolved problems in mathematical systems and control theory

This book provides clear presentations of more than sixty important unsolved problems in mathematical systems and control theory. Each of the problems included here is proposed by a leading expert and set forth in an accessible manner. Covering a wide range of areas, the book ...

The new economic sociology

a reader

Economic sociology is a rapidly expanding field, applying sociology's core insight--that individuals behave according to scripts that are tied to social roles--to economic behavior. It places homo economicus (that tried-and-true fictive actor who is completely rational, acts only out of self-interest, and has perfect ...

The reemergence of self-employment

a comparative study of self-employment dynamics and social inequality

This book presents results of a cross-national research project on self-employment in eleven advanced economies and demonstrates how and why the practice is reemerging in modern societies. While traditional forms of self-employment, such as skilled crafts work and shop keeping, are in decline, they are ...

Creative destruction

A Frenchman rents a Hollywood movie. A Thai schoolgirl mimics Madonna. Saddam Hussein chooses Frank Sinatra's "My Way" as the theme song for his 54th birthday. It is a commonplace that globalization is subverting local culture. But is it helping as much as it ...

From subsistence to exchange

and other essays

Peter Bauer, a pioneer of development economics, is an incisive thinker whose work continues to influence fields from political science to history to anthropology. As Nobel Laureate Amartya Sen writes in the introduction to this book, "the originality, force, and extensive bearing of his writings ...

The first crash

lessons from the south sea bubble

For nearly three centuries the spectacular rise and fall of the South Sea Company has gripped the public imagination as the most graphic warning to investors of the dangers of unbridled speculation. Yet history repeats itself and the same elemental forces that drove up the ...

Neoclassical finance

Neoclassical Finance provides a concise and powerful account of the underlying principles of modern finance, drawing on a generation of theoretical and empirical advances in the field. Stephen Ross developed the no arbitrage principle, tying asset pricing to the simple proposition that there are no ...

The classical economists revisited

The Classical Economists Revisited conveys the extent, diversity, and richness of the literature of economics produced in the period extending from David Hume's Essays of 1752 to the final contributions of Fawcett and Cairnes in the 1870s. D. P. O'Brien thoroughly updates, rewrites ...