Despite the vast research literature on topics relating to contract theory, only a few of the field's core ideas are covered in microeconomics textbooks. This long-awaited book fills the need for a comprehensive textbook on contract theory suitable for use at the graduate and advanced undergraduate levels. It covers the areas of agency theory, information economics, and organization theory, highlighting common themes and methodologies and presenting the main ideas in an accessible way.
The use of economic modeling techniques in industrial ecology research provides distinct advantages over the customary approach, which focuses on the physical description of material flows. The thirteen chapters of Economics of Industrial Ecology integrate the natural science and technological dimensions of industrial ecology with a rigorous economic approach and by doing so contribute to the advancement of this emerging field.
This timely report appears during a period when rising food prices are a subject of public concern and the entire food distribution system is encountering difficulty in handling upward pressures on operating costs. At this juncture, there is a need for a critical examination of inefficient and outdated procedures and operations within America's food distribution system.
Nontechnical yet analytically rigorous, The Multinational Paradigm represents a new direction in understanding the multinational corporation. Aliber suggests that changes in the relative rates of economic growth of countries lead to changes in exchange rates that have an important impact on the financing, sourcing, and marketing decisions and practices of individual firms.
A developing country's choice of an appropriate technology from among those available for use in a particular industry is critical: alternative technological strategies that involve varying mixes of capital, labor, and social costs could have significantly different impacts not only on the industry but also on the country itself, especially one whose industrial base is restricted. This book presents one of the first empirical studies in this area.
Why are pension funds so large and benefits so small? This examination of the 120-year-old American system of privatized social insurance—often called, at 1.7 trillion dollars, the biggest lump of money in the world—reveals that the system fails to provide adequate retirement income security, its most prominent goal, and, in fact, its greatest influence is in supplying funds to U.S. capital markets.
Technological advances and changes in the global economy are increasing the geographic distribution of work in industries as diverse as banking, wine production, and clothing design. Many workers communicate regularly with distant coworkers; some monitor and manipulate tools and objects at a distance. Work teams are spread across different cities or countries. Joint ventures and multiorganizational projects entail work in many locations.
Policies to promote competition are high on the political agenda worldwide. But in a constantly changing marketplace, the effects of more intense competition on firm conduct, market structure, and industry performance are often hard to distinguish. This study combines game-theoretic models with empirical evidence from a "natural experiment" of policy reform.
An organization is more than the sum of its parts, and the individual components that function as a complex social system can be understood only by analyzing their collective behavior. This book shows how state-of-the-art simulation methods, including genetic algorithms, neural networks, and cellular automata, can be brought to bear on central problems of organizational theory related to the emergence, permanence, and dissolution of hierarchical macrostructures.
Since 1990 there has been a renaissance of theoretical and empirical work on the spatial aspects of the economy--that is, where economic activity occurs and why. Using new tools--in particular, modeling techniques developed to analyze industrial organization, international trade, and economic growth--this "new economic geography" has emerged as one of the most exciting areas of contemporary economics.The authors show how seemingly disparate models reflect a few basic themes, and in so doing they develop a common "grammar" for discussing a variety of issues.