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Economics and Finance

Economics and Finance

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In Money, Payments, and Liquidity,  Guillaume Rocheteau and Ed Nosal provide a comprehensive investigation into the economics of money, liquidity, and payments by explicitly modeling the mechanics of trade and its various frictions (including search, private information, and limited commitment).

Principles and Applications

In the natural world, some agents (investors) employ strategies that provide resources, services, or information, while others (exploiters) gain advantages through these efforts. This behavior coexists and can be observed in many species and at many levels. For example, bacteria depend on the existence of biofilms to synthesize constituent proteins; cancerous cells employ angiogenesis to feed a tumor; and parents forgo vaccinating their children yet benefit from herd immunity.

What My Family and Career Taught Me about Breaking Through (and Holding the Door Open for Others)

“Myra Strober’s Sharing the Work is the memoir of a woman who has learned that ‘having it all’ is only possible by ‘sharing it all,’ from finding a partner who values your work as much as you do, to fighting for family-friendly policies. You will learn that finding allies is crucial, blending families after divorce is possible, and that there is neither a good time nor a bad time to have children. Both women and men will find a friend in these pages.”
—Gloria Steinem

Prejudice and Power in a Dual Economy

The United States is becoming a nation of rich and poor, with few families in the middle. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class. Temin argues that American history and politics, particularly slavery and its aftermath, play an important part in the widening gap between rich and poor.

The study of industrial organization (IO)—the analysis of the way firms compete with one another—has become a key component of economics and of such related disciplines as finance, strategy, and marketing. This book provides an issue-driven introduction to industrial organization. Although formal in its approach, it is written in a way that requires only basic mathematical training. It includes a vast array of examples, from both within and outside the United States. This second edition has been thoroughly updated and revised.

Lessons from China

The development and deployment of cleaner energy technologies have become globalized phenomena. Yet despite the fact that energy-related goods account for more than ten percent of international trade, policy makers, academics, and the business community perceive barriers to the global diffusion of these emerging technologies. Experts point to problems including intellectual property concerns, trade barriers, and developing countries’ limited access to technology and funding.

An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade.

A Primer, 2nd Edition

The theory of contracts grew out of the failure of the general equilibrium model to account for the strategic interactions among agents that arise from informational asymmetries. This popular text, revised and updated throughout for the second edition, serves as a concise and rigorous introduction to the theory of contracts for graduate students and professional economists. The book presents the main models of the theory of contracts, particularly the basic models of adverse selection, signaling, and moral hazard.

With more than a billion people now living on less than a dollar a day, and with eight million dying each year because they are simply too poor to live, most would agree that the problem of global poverty is our greatest moral challenge. The large and pressing practical question is how best to address that challenge.

Reclaiming the Environmental Agenda

The past twenty-five years have seen a significant evolution in environmental policy, with new environmental legislation and substantive amendments to earlier laws, significant advances in environmental science, and changes in the treatment of science (and scientific uncertainty) by the courts. This book offers a detailed discussion of the important issues in environmental law, policy, and economics, tracing their development over the past few decades through an examination of environmental law cases and commentaries by leading scholars.

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