Interaction And Market Structure

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Interaction and Market Structure

Author : Domenico Delli Gatti
Publisher : Springer Science & Business Media
ISBN 13 : 3642570054
Total Pages : 302 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Interaction and Market Structure by : Domenico Delli Gatti

Download or read book Interaction and Market Structure written by Domenico Delli Gatti and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a collection of essays which examine how the properties of aggregate variables are influenced by the actions and interactions of heterogenous individuals in different economic contexts. The common denominator of the essays is a critique of the representative agent hypothesis. If this hypothesis were correct, the behaviour of the aggregate variable would simply be the reproduction of individual optimising behaviour. In the methodology of the hard sciences, one of the achievements of the quantum revolution has been the rebuttal of the notion that aggregate behaviour can be explained on the basis of the behaviour of a single unit: the elementary particle does not even exist as a single entity but as a network, a system of interacting units. In this book, new tracks in economics which parallel the developments in physics mentioned above are explored. The essays, in fact are contributions to the analysis of the economy as a complex evolving system of interacting agents.

Business Cycles

Author : Kirsten Ralf
Publisher : Springer Science & Business Media
ISBN 13 : 3642517420
Total Pages : 242 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Business Cycles by : Kirsten Ralf

Download or read book Business Cycles written by Kirsten Ralf and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: When writing the preface the main work has been done. What remains is thanking all those people who directly or indirectly contributed to the out come. My thanks go to my family and friends for their encouragement towards the completion of this book. Among the academic profession, I would like to thank Prof. Dr. Dr. Harald Scherf, my academic teacher, first. During the years at Hamburg University I benefitted especially from his profound knowledge of Keynesian theory. His way of examining an argument in an unbiased way helped me a lot to carry out the reseach I wanted to do. His confidence enabled me to finish the work. A part of the book was written while I was a visiting fellow at DELTA, Paris, where I am particularly indebted to Roger Guesnerie. I have benefitted from his encouragement, advice, and gentle criticism during discussions and seminars, especially on the topic of the time structure of economic dynamics. I would like to acknowledge the hospitality and stimulating atmosphere at DELTA. Different versions of the manuscript, or parts of it have been read by Prof. Dr. Manfred Holler, Dr. Jorg Bibow and Dr. Gabriele Kasten. Their comments and suggestions were quite helpul and are gratefully acknowledged. Additionally, I have to thank Prof. Dr. M. Funke and Prof. Dr. V. Timmer mann.

Rethinking Macroeconomics with Endogenous Market Structure

Author : Marco Mazzoli
Publisher : Cambridge University Press
ISBN 13 : 1108482600
Total Pages : 251 pages
Book Rating : 4.1/5 (84 download)

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Book Synopsis Rethinking Macroeconomics with Endogenous Market Structure by : Marco Mazzoli

Download or read book Rethinking Macroeconomics with Endogenous Market Structure written by Marco Mazzoli and published by Cambridge University Press. This book was released on 2019-12-19 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The last decade has seen a lively debate in macroeconomics, with an increasing criticism on the model that seemed to be dominant in literature since the end of the 1990's, the Dynamic Stochastic General Equilibrium (DSGE, hereafter) and, consequently, the birth of some new theoretical approaches and methodologies"--

Market Structure and Competition Policy

Author : George Norman
Publisher : Cambridge University Press
ISBN 13 : 1139428586
Total Pages : 309 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Market Structure and Competition Policy by : George Norman

Download or read book Market Structure and Competition Policy written by George Norman and published by Cambridge University Press. This book was released on 2000-11-30 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2000 text applies modern advances in game theory to the analysis of competition policy and develops some of the theoretical and policy concerns associated with the pioneering work of Louis Phlips. Containing contributions by leading scholars from Europe and North America, this book observes a common theme in the relationship between the regulatory regime and market structure. Since the inception of the new industrial organization, economists have developed a better understanding of how real-world markets operate. These results have particular relevance to the design and application of anti-trust policy. Analyses indicate that picking the most competitive framework in the short run may be detrimental to competition and welfare in the long run, concentrating the attention of policy makers on the impact on the long-run market structure. This book provides essential reading for graduate students of industrial and managerial economics as well as researchers and policy makers.

Handbook of Production Economics

Author : Subhash C. Ray
Publisher : Springer Nature
ISBN 13 : 9811034559
Total Pages : 1797 pages
Book Rating : 4.8/5 (11 download)

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Book Synopsis Handbook of Production Economics by : Subhash C. Ray

Download or read book Handbook of Production Economics written by Subhash C. Ray and published by Springer Nature. This book was released on 2022-06-02 with total page 1797 pages. Available in PDF, EPUB and Kindle. Book excerpt: This three-volume handbook includes state-of-the-art surveys in different areas of neoclassical production economics. Volumes 1 and 2 cover theoretical and methodological issues only. Volume 3 includes surveys of empirical applications in different areas like manufacturing, agriculture, banking, energy and environment, and so forth.

Technology and Market Structure

Author : John Sutton
Publisher : MIT Press
ISBN 13 : 9780262692649
Total Pages : 700 pages
Book Rating : 4.6/5 (926 download)

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Book Synopsis Technology and Market Structure by : John Sutton

Download or read book Technology and Market Structure written by John Sutton and published by MIT Press. This book was released on 2001-01-26 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: John Sutton sets out a unified theory that encompasses two major approaches to studying market, while generating a series of novel predictions as to how markets evolve. Traditionally, the field of industrial organization has relied on two unrelated theories—the cross-section theory and the growth-of-firms theory—to explain cross-industry differences in concentration and within-industry skewness. The two approaches are based on very different mathematical structures and few researchers have attempted to relate them to each other. In this book, John Sutton unifies the two approaches through a theory that rests on three simple principles. The first two, a "survivor principle" that says that firms will not pursue loss-making strategies, and an "arbitrage principle" that says that if a profitable opportunity is available, some firm will take it, suffice to define a set of possible outcomes. The third, the "symmetry principle," says that the strategy used by a new entrant into any submarket depends neither on the entrants identity nor on its history in other submarkets. This allows researchers to bring together the roles of strategic interactions and of independence effects. The result is that the considerations motivating the cross-section tradition and those motivating the growth-of-firms tradition both drop out within a single game-theoretic model. This book follows Sutton's Sunk Costs and Market Structure, published by MIT Press in 1991.

Complex Economics

Author : Alan Kirman
Publisher : Routledge
ISBN 13 : 1136941673
Total Pages : 366 pages
Book Rating : 4.1/5 (369 download)

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Book Synopsis Complex Economics by : Alan Kirman

Download or read book Complex Economics written by Alan Kirman and published by Routledge. This book was released on 2010-09-13 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Strategic Interaction

Author : Erving Goffman
Publisher : University of Pennsylvania Press
ISBN 13 : 0812210115
Total Pages : 155 pages
Book Rating : 4.8/5 (122 download)

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Book Synopsis Strategic Interaction by : Erving Goffman

Download or read book Strategic Interaction written by Erving Goffman and published by University of Pennsylvania Press. This book was released on 1970 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: The two essays in this classic work by sociologist Erving Goffman deal with the calculative, gamelike aspects of human interaction. Goffman examines the strategy of words and deeds; he uses the term "strategic interaction" to describe gamelike events in which an individual's situation is fully dependent on the move of one's opponent and in which both players know this and have the wit to use this awareness for advantage. Goffman aims to show that strategic interaction can be isolated analytically from the general study of communication and face-to-face interaction. The first essay addresses expression games, in which a participant spars to discover the value of information given openly or unwittingly by another. The author uses vivid examples from espionage literature and high-level political intrigue to show how people mislead one another in the information game. Both observer and observed create evidence that is false and uncover evidence that is real. In "Strategic Interaction," the book's second essay, action is the central concern, and expression games are secondary. Goffman makes clear that often, when it seems that an opponent sets off a course of action through verbal communication, he really has a finger on your trigger, your chips on the table, or your check in his bank. Communication may reinforce conduct, but in the end, action speaks louder. Those who gamble with their wits, and those who study those who do, will find this analysis important and stimulating.

Monopsony in Motion

Author : Alan Manning
Publisher : Princeton University Press
ISBN 13 : 1400850673
Total Pages : 414 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Monopsony in Motion by : Alan Manning

Download or read book Monopsony in Motion written by Alan Manning and published by Princeton University Press. This book was released on 2013-12-03 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to the standard model of perfect competition. Monopsony in Motion stands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption. The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the "free" market can no longer be sustained as an ideal and labor economists need to be more open-minded in their evaluation of labor market policies. Monopsony in Motion will represent for some a new fundamental text in the advanced study of labor economics, and for others, an invaluable alternative perspective that henceforth must be taken into account in any serious consideration of the subject.

New Developments in the Analysis of Market Structure

Author : International Economic Association
Publisher : MIT Press
ISBN 13 : 9780262690935
Total Pages : 588 pages
Book Rating : 4.6/5 (99 download)

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Book Synopsis New Developments in the Analysis of Market Structure by : International Economic Association

Download or read book New Developments in the Analysis of Market Structure written by International Economic Association and published by MIT Press. This book was released on 1986 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: These contributions discuss a number of important developments over the past decade in a newly established and important field of economics that have led to notable changes in views on governmental competition policies. They focus on the nature and role of competition and other determinants of market structures, such as numbers of firms and barriers to entry; other factors which determine the effective degree of competition in the market; the influence of major firms (especially when these pursue objectives other than profit maximization); and decentralization and coordination under control relationships other than markets and hierarchies.ContributorsJoseph E. Stiglitz, G. C. Archibald, B. C. Eaton, R. G. Lipsey, David Enaoua, Paul Geroski, Alexis Jacquemin, Richard J. Gilbert, Reinhard Selten, Oliver E. Williamson, Jerry R. Green, G. Frank Mathewson, R. A. Winter, C. d'Aspremont, J. Jaskold Gabszewicz, Steven Salop, Branko Horvat, Z. Roman, W. J. Baumol, J. C. Panzar, R. D. Willig, Richard Schmalensee, Richard Nelson, Michael Scence, and Partha Dasgupta

Games in Management Science

Author : Pierre-Olivier Pineau
Publisher : Springer
ISBN 13 : 3030191079
Total Pages : 417 pages
Book Rating : 4.0/5 (31 download)

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Book Synopsis Games in Management Science by : Pierre-Olivier Pineau

Download or read book Games in Management Science written by Pierre-Olivier Pineau and published by Springer. This book was released on 2019-08-14 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers a large spectrum of cutting-edge game theory applications in management science in which Professor Georges Zaccour has made significant contributions. The book consists of 21 chapters and highlights the latest treatments of game theory in various areas, including marketing, supply chains, energy and environmental management, and cyber defense. With this book, former Ph.D. students and successful research collaborators of Professor Zaccour wish to honor his many scientific achievements.

The Unity of the Capitalist Economy and State

Author : Geert Reuten
Publisher : Historical Materialism
ISBN 13 : 9781642593730
Total Pages : 727 pages
Book Rating : 4.5/5 (937 download)

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Book Synopsis The Unity of the Capitalist Economy and State by : Geert Reuten

Download or read book The Unity of the Capitalist Economy and State written by Geert Reuten and published by Historical Materialism. This book was released on 2020-09 with total page 727 pages. Available in PDF, EPUB and Kindle. Book excerpt: Geert Reuten offers a systematic exposition of the capitalist system, showing that the capitalist economy and the capitalist state constitute a unity.

Economics and the Theory of Games

Author : Fernando Vega-Redondo
Publisher : Cambridge University Press
ISBN 13 : 9780521775908
Total Pages : 530 pages
Book Rating : 4.7/5 (759 download)

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Book Synopsis Economics and the Theory of Games by : Fernando Vega-Redondo

Download or read book Economics and the Theory of Games written by Fernando Vega-Redondo and published by Cambridge University Press. This book was released on 2003-07-28 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sample Text

Cognitive Economics

Author : Paul Bourgine
Publisher : Springer Science & Business Media
ISBN 13 : 3540247084
Total Pages : 479 pages
Book Rating : 4.5/5 (42 download)

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Book Synopsis Cognitive Economics by : Paul Bourgine

Download or read book Cognitive Economics written by Paul Bourgine and published by Springer Science & Business Media. This book was released on 2013-03-20 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: The social sciences study knowing subjects and their interactions. A "cog nitive turn", based on cognitive science, has the potential to enrich these sciences considerably. Cognitive economics belongs within this movement of the social sciences. It aims to take into account the cognitive processes of individuals in economic theory, both on the level of the agent and on the level of their dynamic interactions and the resulting collective phenomena. This is an ambitious research programme that aims to link two levels of com plexity: the level of cognitive phenomena as studied and tested by cognitive science, and the level of collective phenomena produced by the economic in teractions between agents. Such an objective requires cooperation, not only between economists and cognitive scientists but also with mathematicians, physicists and computer scientists, in order to renew, study and simulate models of dynamical systems involving economic agents and their cognitive mechanisms. The hard core of classical economics is the General Equilibrium Theory, based on the optimising rationality of the agent and on static concepts of equilibrium, following a point of view systemised in the framework of Game Theory. The agent is considered "rational" if everything takes place as if he was maximising a function representing his preferences, his utility function.

The Interaction Field

Author : Erich Joachimsthaler
Publisher : PublicAffairs
ISBN 13 : 1541730526
Total Pages : 215 pages
Book Rating : 4.5/5 (417 download)

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Book Synopsis The Interaction Field by : Erich Joachimsthaler

Download or read book The Interaction Field written by Erich Joachimsthaler and published by PublicAffairs. This book was released on 2020-09-15 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn how the most successful businesses are creating value and igniting smart growth in a fast-paced, competitive market. Most businesses today focus on competition and disruption instead of collaboration, participation, and engagement. They focus on transactions instead of interactions. They seek to optimize or extract value rather than share it. They build assets and thrive on enormous scale, huge distribution networks, and brand recognition. But then along comes a rival that doesn't care much about your brand and your other assets, and it either rushes past you or mows you down. In The Interaction Field, management expert and professor Erich Joachimsthaler explains that the only way to thrive in this environment is through the Interaction Field model. Companies who embrace this model generate, facilitate, and benefit from data exchanges among multiple people and groups -- from customers and stakeholders, but also from those you wouldn't expect to be in the mix, like suppliers, software developers, regulators, and even competitors. And everyone in the field works together to solve big, industry-wide, or complex and unpredictable societal problems. The future is going to be about creating value for everyone. Businesses that solve immediate challenges of people today and also the major social and economic challenges of the future are the ones that will survive and grow.

Market Structure and Innovation

Author : Morton I. Kamien
Publisher : Cambridge University Press
ISBN 13 : 9780521293853
Total Pages : 252 pages
Book Rating : 4.2/5 (938 download)

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Book Synopsis Market Structure and Innovation by : Morton I. Kamien

Download or read book Market Structure and Innovation written by Morton I. Kamien and published by Cambridge University Press. This book was released on 1982-02-26 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technical advance requires resources and is motivated by the quest for profits; therefore, the rate and direction of advance is determined by the economic system. Recognition of this fact has focused attention on the performance of the market economy in the allocation of resources to technical advance, and the consequent body of research is surveyed and synthesised in this book. The theories of market structure and innovation proposed by Schumpeter, Galbraith, Arrow, Schmookler, Scherer, Mansfield, Phillips, Barzel, Kamien and Schwartz, Loury, Nelson and Winter, Grabowski, Dasgupta and Stiglitz, and others are presented in an integrated form. These theories deal with the nature of competition, the incentives to innovate and the pace of innovative activity under different market structures, and the existence of a market structure that yields the most rapid rate of innovation. In addition, the findings of seventy empirical studies dealing with various facets of the microeconomics of technical innovation are presented. The book is designed to be accessible to economists working in a variety of situations - in universities, business and government - and who are concerned with questions of technical innovation. It is also suitable for senior-level undergraduates and first year graduate students approaching the subject in a comprehensive way for the first time.

The Oxford Handbook of Computational Economics and Finance

Author : Shu-Heng Chen
Publisher : Oxford University Press
ISBN 13 : 0190877502
Total Pages : 785 pages
Book Rating : 4.1/5 (98 download)

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Book Synopsis The Oxford Handbook of Computational Economics and Finance by : Shu-Heng Chen

Download or read book The Oxford Handbook of Computational Economics and Finance written by Shu-Heng Chen and published by Oxford University Press. This book was released on 2018-01-12 with total page 785 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Computational Economics and Finance provides a survey of both the foundations of and recent advances in the frontiers of analysis and action. It is both historically and interdisciplinarily rich and also tightly connected to the rise of digital society. It begins with the conventional view of computational economics, including recent algorithmic development in computing rational expectations, volatility, and general equilibrium. It then moves from traditional computing in economics and finance to recent developments in natural computing, including applications of nature-inspired intelligence, genetic programming, swarm intelligence, and fuzzy logic. Also examined are recent developments of network and agent-based computing in economics. How these approaches are applied is examined in chapters on such subjects as trading robots and automated markets. The last part deals with the epistemology of simulation in its trinity form with the integration of simulation, computation, and dynamics. Distinctive is the focus on natural computationalism and the examination of the implications of intelligent machines for the future of computational economics and finance. Not merely individual robots, but whole integrated systems are extending their "immigration" to the world of Homo sapiens, or symbiogenesis.