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Adverse Selection And Moral Hazard In Anonymous Markets
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Book Synopsis The Economics of Platforms by : Paul Belleflamme
Download or read book The Economics of Platforms written by Paul Belleflamme and published by Cambridge University Press. This book was released on 2021-11-11 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book on platforms that concisely incorporates path-breaking insights in economics over the last twenty years.
Download or read book General Equilibrium written by Frank Hahn and published by Routledge. This book was released on 2003-09-02 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years certain leading figures in the world of economics have called the usefulness of general equilibrium theory into question. This superb new book brings together leading economic theorists with important contributions to the ongoing debate. General equilibrium theorists including Michio Morishima, Michael Magill and Martine Quinzii debate strengths, weaknesses and possible futures with leading thinkers such as Herb Gintis, Pierangelo Garegnani and Duncan Foley, who seek to explain the rejection of general equilibrium. Uniquely, none of the contributors portray general equilibrium theory as the perfect guide to market economies actual behaviour, but rather illustrate that there is insufficient acquaintance with existing alternatives and that general equilibrium theory is often used as an ideal 'benchmark'.
Book Synopsis Moral Hazard in Health Insurance by : Amy Finkelstein
Download or read book Moral Hazard in Health Insurance written by Amy Finkelstein and published by Columbia University Press. This book was released on 2014-12-02 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the challenge of covering heath care expenses—while minimizing economic risks. Moral hazard—the tendency to change behavior when the cost of that behavior will be borne by others—is a particularly tricky question when considering health care. Kenneth J. Arrow’s seminal 1963 paper on this topic (included in this volume) was one of the first to explore the implication of moral hazard for health care, and Amy Finkelstein—recognized as one of the world’s foremost experts on the topic—here examines this issue in the context of contemporary American health care policy. Drawing on research from both the original RAND Health Insurance Experiment and her own research, including a 2008 Health Insurance Experiment in Oregon, Finkelstein presents compelling evidence that health insurance does indeed affect medical spending and encourages policy solutions that acknowledge and account for this. The volume also features commentaries and insights from other renowned economists, including an introduction by Joseph P. Newhouse that provides context for the discussion, a commentary from Jonathan Gruber that considers provider-side moral hazard, and reflections from Joseph E. Stiglitz and Kenneth J. Arrow. “Reads like a fireside chat among a group of distinguished, articulate health economists.” —Choice
Book Synopsis Reengineering the Sharing Economy by : Babak Heydari
Download or read book Reengineering the Sharing Economy written by Babak Heydari and published by Cambridge University Press. This book was released on 2023-03-31 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current sharing economy suffers from system-wide deficiencies even as it produces distinctive benefits and advantages for some participants. The first generation of sharing markets has left us to question: Will there be any workers in the sharing economy? Can we know enough about these technologies to regulate them? Is there any way to avoid the monopolization of assets, information, and wealth? Using convergent, transdisciplinary perspectives, this volume examines the challenge of reengineering a sharing economy that is more equitable, democratic, sustainable, and just. The volume enhances the reader's capacity for integrating applicable findings and theories in business, law and social science into ethical engineering design and practice. At the same time, the book helps explain how technological innovations in the sharing economy create value for different stakeholders and how they impact society at large. Reengineering the Sharing Economy is also available as Open Access on Cambridge Core.
Book Synopsis Complex Mortgages (CM) by : Gene Amromin
Download or read book Complex Mortgages (CM) written by Gene Amromin and published by DIANE Publishing. This book was released on 2011 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: CM became a popular borrowing instrument during the bullish housing market of the early 2000s but vanished rapidly during the subsequent downturn. These non-traditional loans (interest only, negative amortization, and teaser mortgages) enable households to postpone loan repayment compared to traditional mortgages and hence relax borrowing constraints. But, they increase household leverage and heighten dependence on mortgage refinancing. CM were chosen by prime borrowers with high income levels seeking to purchase expensive houses relative to their incomes. Borrowers with CM experience substantially higher ex post default rates than borrowers with traditional mortgages with similar characteristics. Illus. This is a print on demand report.
Book Synopsis Anonymous Art at Auction by : Anne-Sophie V. Radermecker
Download or read book Anonymous Art at Auction written by Anne-Sophie V. Radermecker and published by BRILL. This book was released on 2021-05-25 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Anonymous Art at Auction, Anne-Sophie V. Radermecker takes the opposing view of the superstar economy by examining contemporary sales of Early Flemish paintings with unknown authorship and the effects of various substitutes for real names on price formation.
Book Synopsis What Money Can't Buy by : Michael J. Sandel
Download or read book What Money Can't Buy written by Michael J. Sandel and published by Farrar, Straus and Giroux. This book was released on 2012-04-24 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: In What Money Can't Buy, renowned political philosopher Michael J. Sandel rethinks the role that markets and money should play in our society. Should we pay children to read books or to get good grades? Should we put a price on human life to decide how much pollution to allow? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars, outsourcing inmates to for-profit prisons, auctioning admission to elite universities, or selling citizenship to immigrants willing to pay? In his New York Times bestseller What Money Can't Buy, Michael J. Sandel takes up one of the biggest ethical questions of our time: Isn't there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets? Over recent decades, market values have crowded out nonmarket norms in almost every aspect of life. Without quite realizing it, Sandel argues, we have drifted from having a market economy to being a market society. In Justice, an international bestseller, Sandel showed himself to be a master at illuminating, with clarity and verve, the hard moral questions we confront in our everyday lives. Now, in What Money Can't Buy, he provokes a debate that's been missing in our market-driven age: What is the proper role of markets in a democratic society, and how can we protect the moral and civic goods that markets do not honor and money cannot buy?
Book Synopsis A History of Financial Technology and Regulation by : Seth C. Oranburg
Download or read book A History of Financial Technology and Regulation written by Seth C. Oranburg and published by Cambridge University Press. This book was released on 2022-03-31 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the lens of history, A History of Financial Technology and Regulation illuminates recent changes to the world of finance. With lucid prose and the help of concrete examples, Seth Oranburg helps readers understand the role of technology in finance today, including complex phenomena such as mutual funds, cryptocurrencies, and the stock market itself. Chapters begin with basic principles and historical analogy before describing complex digital-investment strategies and instruments. Readers will also gain an introduction to key concepts in financial regulation, learning how law and regulations prevented some financial crises while perpetuating others. Oranburg concludes with ideas about what's next for finance and how the law should respond. This book will appeal to specialists and nonspecialists alike who are interesting in learning more about business, economics, finance, law, and regulation.
Book Synopsis The Architecture of Illegal Markets by : Jens Beckert
Download or read book The Architecture of Illegal Markets written by Jens Beckert and published by Oxford University Press. This book was released on 2017-07-26 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: From illegal drugs, stolen artwork, and forged trademarks, to fraud in financial markets - the phenomenon of illegality in market exchanges is pervasive. Illegal markets have great economic significance, have relevant social and political consequences, and shape economic and political structures. Despite the importance of illegality in the economy, the field of economic sociology unquestioningly accepts the premise that the institutional structures and exchanges taking place in markets are law-abiding in nature. This volume makes a contribution to changing this. Questions that stand at the centre of the chapters are: What are the interfaces between legal and illegal markets? How do demand and supply in illegal markets interact? What role do criminal organizations play in illegal markets? What is the relationship between illegality and governments? Is illegality a phenomenon central to capitalism? Anchored in economic sociology, this book contributes to the analysis and understanding of market exchanges in conditions of illegality from a perspective that focuses on the social organization of markets. Offering both, theoretical reflections and case studies, the chapters assembled in the volume address the consequences of the illegal production, distribution, and consumption of products for the architecture of markets. It also focuses on the underlying causes and the political and social concerns stemming from the infringement of the law.
Book Synopsis Handbook on the Economics of Retailing and Distribution by : Emek Basker
Download or read book Handbook on the Economics of Retailing and Distribution written by Emek Basker and published by Edward Elgar Publishing. This book was released on 2016-01-29 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook explores and critically examines current research in economics and marketing science on key issues in retailing and distribution. Providing a rich perspective for the discussion of public policy, contributions from several disciplines and continents range from the history of chains and the impact of multinational retailers on international trade patterns to US merger policy in the retail context, the rise of the Internet, and consumer-to-consumer sales. The chapters address methodological issues such as the structural estimation of entry games between retailers, productivity measurement when both inputs and output are not fully observable, and demand estimation with variable assortment. Policy issues explored include mergers, zoning, and the regulation of buyer power, while other chapters address some of the recent exciting developments in technology, retail formats, and data availability. The book goes on to study the changes in online retailing and ‘big data’, and to examine competition in specific retail sectors including gasoline stations, automobile dealerships, supermarkets, and ‘big box’ retail. This state-of-the-art Handbook is an essential reference for students and academics of economics and marketing science, and offers an outsider’s perspective to specialists in operations research, data analytics, geography, and sociology.
Book Synopsis Handbook of Social Economics SET: 1A, 1B by : Jess Benhabib
Download or read book Handbook of Social Economics SET: 1A, 1B written by Jess Benhabib and published by Newnes. This book was released on 2011 with total page 1509 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can economists define and measure social preferences and interactions? Through the use of new economic data and tools, our contributors survey an array of social interactions and decisions that typify homo economicus. Identifying economic strains in activities such as learning, group formation, discrimination, and the creation of peer dynamics, they demonstrate how they tease out social preferences from the influences of culture, familial beliefs, religion, and other forces. Advances our understanding about quantifying social interactions and the effects of culture Summarizes research on theoretical and applied economic analyses of social preferences Explores the recent willingness among economists to consider new arguments in the utility function
Book Synopsis Microeconomic Policy by : S. I. Cohen
Download or read book Microeconomic Policy written by S. I. Cohen and published by Psychology Press. This book was released on 2001 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book links principles to settings and shows how theory complements policy and vice-versa. It links theory to policies and application, and will enable students to understand and recognise balance in policy analysis and preparation.
Book Synopsis Income Contingent Loans by : Timothy Higgins
Download or read book Income Contingent Loans written by Timothy Higgins and published by Springer. This book was released on 2014-05-28 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores the prospect of the application of the basic principles of ICL into many other potential areas of social and economic policy. Using case studies it evaluates previously implemented ICL schemes where interest rate subsidies are usually the norm, and questions the merits of this approach.
Book Synopsis Handbook of Insurance by : Georges Dionne
Download or read book Handbook of Insurance written by Georges Dionne and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 980 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1970's, the research agenda in insurance was dominated by optimal insurance coverage, security design, and equilibrium under conditions of imperfect information. The 1980's saw a growth of theoretical developments including non-expected utility, price volatility, retention capacity, the pricing and design of insurance contracts in the presence of multiple risks, and the liability insurance crisis. The empirical study of information problems, financial derivatives, and large losses due to catastrophic events dominated the research agenda in the 1990's. The Handbook of Insurance provides a single reference source on insurance for professors, researchers, graduate students, regulators, consultants, and practitioners, that reviews the research developments in insurance and its related fields that have occurred over the last thirty years. The book starts with the history and foundations of insurance theory and moves on to review asymmetric information, risk management and insurance pricing, and the industrial organization of insurance markets. The book ends with life insurance, pensions, and economic security. Each chapter has been written by a leading authority in insurance, all contributions have been peer reviewed, and each chapter can be read independently of the others.
Book Synopsis Microeconomic Policy by : Solomon Cohen
Download or read book Microeconomic Policy written by Solomon Cohen and published by Routledge. This book was released on 2000-10-05 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook provides an important and fresh approach to the understanding of microeconomic policy. Microeconomic Policy links principles to settings and shows how theory compliments policy and vice-versa. By linking theory to policies and application, this text will enable students to acquire proficiency and recognise balance in policy analysis a
Book Synopsis Handbook of Insurance by : Georges Dionne
Download or read book Handbook of Insurance written by Georges Dionne and published by Springer Science & Business Media. This book was released on 2013-12-02 with total page 1133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new edition of the Handbook of Insurance reviews the last forty years of research developments in insurance and its related fields. A single reference source for professors, researchers, graduate students, regulators, consultants and practitioners, the book starts with the history and foundations of risk and insurance theory, followed by a review of prevention and precaution, asymmetric information, risk management, insurance pricing, new financial innovations, reinsurance, corporate governance, capital allocation, securitization, systemic risk, insurance regulation, the industrial organization of insurance markets and other insurance market applications. It ends with health insurance, longevity risk, long-term care insurance, life insurance financial products and social insurance. This second version of the Handbook contains 15 new chapters. Each of the 37 chapters has been written by leading authorities in risk and insurance research, all contributions have been peer reviewed, and each chapter can be read independently of the others.
Book Synopsis Development Economics by : Alain de Janvry
Download or read book Development Economics written by Alain de Janvry and published by Routledge. This book was released on 2015-12-22 with total page 859 pages. Available in PDF, EPUB and Kindle. Book excerpt: Development Economics: Theory and Practice provides students and practitioners with the perspectives and the tools they need to think analytically and critically about the current major economic development issues in the world. Alain de Janvry and Elisabeth Sadoulet identify seven key dimensions of development; growth, poverty, vulnerability, inequality, basic needs, sustainability, and quality of life, and use them to structure the contents of the text. This book gives a historical perspective on the evolution of thought in development. It uses theory and empirical analysis to present readers with a full picture of how development works, how its successes and failures can be assessed, and how alternatives can be introduced. The authors demonstrate how diagnostics, design of programs and policies, and impact evaluation can be used to seek new solutions to the suffering and violence caused by development failures. This text is fully engaged with the most cutting edge research in the field, and equips readers with analytical tools for the impact evaluation of development programs and policies, illustrated with numerous examples. It is underpinned throughout by a wealth of student-friendly features including case studies, quantitative problem sets, end-of-chapter questions, and extensive references. This unique text aims at helping readers learn about development, think analytically about achievements and alternative options, and be prepared to compete on the development job market.
