Download or read book The Rate and Direction of Inventive Activity written by National Bureau of Economic Research and published by Princeton University Press. This book was released on 2015-12-08 with total page 647 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers here range from description and analysis of how our political economy allocates its inventive effort, to studies of the decision making process in specific industrial laboratories. Originally published in 1962. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Download or read book Economic Welfare and the Allocation of Resources for Invention written by Kenneth J. Arrow and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author raises the classic question of welfare economics in relation to invention: to what extent does perfect competition result in optimal allocation of resources? There are three reasons for the possible failure of perfect competition to lead to optimal resource allocation: marginal-cost pricing, divergence between social and private benefit (or cost), and allocation of resources under uncertainty. The last receives attention in this chapter; specifically, only in the context of uncertainty arises the critical idea of information. Improving the efficiency of the economy with respect to risk may decrease technical efficiency. Devices for mitigating adverse effects of insurance are co-insurance and cost-plus contracts. Uncertainty creates a subtle problem in resource allocation: information becomes a commodity with economic value, and the economic characteristics of information as a commodity, and of invention as a process for the production of information are examined. The classic problem of indivisible commodities applies to information, and the problem of allocation in the presence of indivisibilities appears. The costs of transmitting information create difficulties in allocation. Invention is a process full of risk. Research by corporations is one way to reduce risk. Turning invention into property rights results in underutilization of information. Profitability of invention thus leads to non-optimal resource allocation The failure of a competitive system to achieve an optimal resource allocation is shown to be due to all three reasons (stated above). Incentives to invent can exist for monopolistic and competitive markets. A model is developed, and theoretical reasons are given to explain the biases that result in the misallocations and inefficiencies in the economic system. Some further implications for alternative forms of economic organization are offered. Optimal and efficient allocation of invention could require government or other non-profit finance, and provisions for innovation by individual talents (rather than by firms) could be devised; problems with these approaches are also noted. (TNM).
Download or read book Resource Allocation Mechanisms written by Donald E. Campbell and published by Cambridge University Press. This book was released on 1987-04-24 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction to the theory of mechanism design, and a treatment of welfare economics.
Download or read book Elements of Neo Walrasian Economics written by Takashi Negishi and published by Springer Science & Business Media. This book was released on 2013-11-12 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to explain to the readers the basic idea of the general equilibrium theory, which forms the core of the current mainstream economics called neoclassical school. To understand this theory is absolutely necessary, either to study further or to criticize the contemporary economic theories. The author not only explains traditional theories, but also makes clear the many problems which are still unsolved. As a text book or reference book for those students who are studying microeconomics for the first time, the author recommends the use of Chapter 1, Chapter 2 (except section 9), Chapter 3 (from section 1 to section 3, section 6, section 11), Chapter 4 (from section 1 to section 4), Chapter 5 (from section 1 to section 5, section 8), Chapter 6 (except sections 6 and 7), Chapter 7 (from section 1 to section 5), Chapter 8 (from section 1 to section 6) and Chapter 9 (sections 1, 4 and 7). For more advanced readers, the author recommends the remaining sections and the literature recommended in the last part of each chapter. Problems given at the end of each chapter allow readers to confirm understanding of the content of the chapter and suggest to the readers more advanced studies. Incidentally, the author tried to avoid the use of the advanced mathematics. Only elementary knowledge of differential calculus and linear algebra are required to read this book.
Download or read book Achieving Optimal Allocation of Resources written by Shahnaz Akhtar Arifullah and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scope of the discipline of Operations Research or Mathematical Programming is not limited to only business management sciences; its application has vastly been extended to many other fields including farming. This paper uses one of the techniques of this mathematical management tool - Linear Programming (LP) - to work out the optimal allocation of resources in a sample of 355 growers, located along sides of two canals of Warsak Dam, running into Peshawar district.Results show that the existing cropping pattern is very much sub-optimal according to the LP suggested solution, wherein 10 out of 12 crops need to be reduced to give space to 2 relatively more enumerative cropping enterprises. The LP results further suggest that for sustainable development a gradual adoption of suggested LP solution would better perform compared to a hastily one-time change process.
Download or read book Strategic Political Resource Allocation written by Nick Mastronardi and published by . This book was released on 2009 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics is the study of the allocation of resources. Since Arrow's Fundamental Welfare Theorems, we know that competitive-markets achieve Pareto allocations when governments correct market failures. Thus, it has largely been the mission of economists to serve as 'Market Engineers': To identify and quantify market failures so the government can implement Pareto-improving policy (make everyone better without making anyone worse). Do Pareto- improving policies get implemented? How does policy become implemented? Achieving a Pareto efficient allocation of a nation's resources requires studying the implementation of policy, and therefore studying the allocation of political resources that influence policy. Policy implementation begins with the electoral process. In this dissertation, I use auction analysis, econometrics, and game theory to study political resource allocations in the electoral process. This dissertation consists of three research papers: Finance-Augmented Median-Voter Model, Vote Empirics, and Colonel Blotto Strategies. The Finance-Augmented Median-Voter Model postulates that candidates' campaign expenditures are bids in a first-price asymmetric all-pay auction in order to explain campaign expenditure behavior. Vote Empirics empirically analyzes the impacts of campaign expenditures, incumbency status, and district voter registration statistics on observed vote-share results from the 2004 congressional election. Colonel Blotto Strategies postulates that parties' campaign allocations across congressional districts may be a version of the classic Col Blotto game from Game Theory. While some equilibrium strategies and equilibrium payoffs have been identified, this paper completely characterizes players' optimal strategies. In total, this dissertation solves candidates' optimal campaign expenditure strategies when campaign expenditures are bids in an all-pay auction. The analysis demonstrates the need for understanding exactly the impacts of various factors, including strategic expenditures, on final vote results. The research uses econometric techniques to identify the effects. Last, the research derives the complete characterization of Col Blotto strategies. Discussed extensions provide testable predictions for cross-district Party contributions. I present this research not as a final statement to the literature, but in hopes that future research will continue its explanation of political resource allocation. An even greater hope is that in time this literature will be used to identify optimal "policy-influencing policies"; constitutional election policies that provide for the implementation of Pareto-improving government policies.
Download or read book Health System Efficiency written by Jonathan Cylus and published by Health Policy. This book was released on 2016-12-15 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book the authors explore the state of the art on efficiency measurement in health systems and international experts offer insights into the pitfalls and potential associated with various measurement techniques. The authors show that: - The core idea of efficiency is easy to understand in principle - maximizing valued outputs relative to inputs, but is often difficult to make operational in real-life situations - There have been numerous advances in data collection and availability, as well as innovative methodological approaches that give valuable insights into how efficiently health care is delivered - Our simple analytical framework can facilitate the development and interpretation of efficiency indicators.
Download or read book Encyclopedia of Global Justice written by Deen K. Chatterjee and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Encyclopedia is an international, interdisciplinary, and collaborative project, spanning all the relevant areas of scholarship related to issues of global justice, and edited and advised by leading scholars from around the world. The wide-ranging entries present the latest ideas on this complex subject by authors who are at the cutting edge of inquiry.
Download or read book The Organization of Economic Activity written by Harold Demsetz and published by . This book was released on 1990 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Public Goods and Public Allocation Policy written by Rüdiger Pethig and published by Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften. This book was released on 1985 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public goods with price exclusion / Michael E. Burns and Cliff Walsh -- Free rider and bad wagons / Bengt-Arne Wickström -- Competitive lobbying for group-specific public goods / Rüdiger Pethig -- The MDP-procedure in a regional economy / Oskar von dem Hagen -- Distributive and allocative effects of individual voting behaviour / Horst Hanusch and Peter Biene -- Majority decisions on regional environmental quality and interregional pollution / Ferdi Dudenhöffer -- Environmental policy with pollution interaction / Alfred Endres -- Alternative allocation procedures for public goods / Wolfgang Blümel.
Download or read book Welfare Economics written by R. F. Boadway and published by Wiley-Blackwell. This book was released on 1991-01-08 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: This clear and balanced introduction to welfare economics reflects the most recent advances in the field. Designed for third-year undergraduate and graduate courses, it offers an extensive treatment of both the theory of welfare economics and the techniques for applying that theory to real problems. The first part of the book presents a synthesis of the theory. Starting from the premise that the purpose of theory is to provide criteria for ordering alternative economic states, the authors analyse the relationship between individual and social orderings. They discuss the conditions of Pareto efficiency and optimality as well as the ways in which market economies may fail to achieve a Pareto optimal allocation of resources. They go on to evaluate the theory of social welfare functions, paying particular attention to recent developments. The second part of the book considers the principles of applied welfare economics. Developing the use of the compensating variation as their main tool, the authors discuss welfare change measurement in single-person and many-person economies. In the final chapter they survey the recent literature on cost-benefit analysis.
Download or read book Mathematics for economists written by Malcolm Pemberton and published by Manchester University Press. This book was released on 2023-11-10 with total page 1118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a self-contained treatment of all the mathematics needed by undergraduate and masters-level students of economics, econometrics and finance. Building up gently from a very low level, the authors provide a clear, systematic coverage of calculus and matrix algebra. The second half of the book gives a thorough account of probability, dynamics and static and dynamic optimisation. The last four chapters are an accessible introduction to the rigorous mathematical analysis used in graduate-level economics. The emphasis throughout is on intuitive argument and problem-solving. All methods are illustrated by examples, exercises and problems selected from central areas of modern economic analysis. The book's careful arrangement in short chapters enables it to be used in a variety of course formats for students with or without prior knowledge of calculus, for reference and for self-study. The preface to the new edition and full table of contents are available from https://www.manchesterhive.com/page/mathematics-for-economists-supplementary-materials
Download or read book The Behavioral and Social Sciences written by National Research Council and published by National Academies Press. This book was released on 1988-02-01 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores the scientific frontiers and leading edges of research across the fields of anthropology, economics, political science, psychology, sociology, history, business, education, geography, law, and psychiatry, as well as the newer, more specialized areas of artificial intelligence, child development, cognitive science, communications, demography, linguistics, and management and decision science. It includes recommendations concerning new resources, facilities, and programs that may be needed over the next several years to ensure rapid progress and provide a high level of returns to basic research.
Download or read book Communities in Action written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-04-27 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.
Download or read book Water Resources Allocation written by Organisation for Economic Co-Operation and Development (OECD) and published by IWA Publishing. This book was released on 2015-05-15 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Water resources allocation determines who is able to use water resources, how, when and where. It directly affects the value (economic, ecological, socio-cultural) that individuals and society obtain from water resources. This report overviews how allocation works in a range of countries and how the performance of allocation arrangements can be improved to adjust to changing conditions. Capturing information from 27 OECD countries and key partner economies, the report presents key findings from the OECD Survey of Water Resources Allocation and case studies of successful allocation reform. It provides practical policy guidance for water allocation in the form of a "health check", which can be used to assess the performance of current arrangements and manage the transition to improved regimes.
Download or read book Microeconomic Policy written by Clement Allan Tisdell and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new and updated edition of Microeconomic Policy provides an excellent blend of theory and application to foster understanding of economic-based policy making. The book is eclectic in its approach and addresses a rich set of current applications. It is an ideal book for teaching microeconomic-based policy analysis to students. Todd Sandler, University of Texas at Dallas, US Designed for students who have already encountered the microeconomic principles, this valuable text focusses effectively on their policy implications, imbuing the apparently dry theory with its insights for the general welfare. William J. Baumol, New York University, US and Princeton University, US A distinctive feature of this book is the application of microeconomics to public policy. As to be expected given the international reputation of the authors there is a thorough treatment of global environmental policies, including the Stern Report, and a very useful chapter on issues of defence, conflict and terrorism. What this text offers, and most competing books do not is the breadth of coverage. In this revised edition we have integration into the topics of advances in behavioural, evolutionary and Austrian economics. The relevance to business management and government policy of the material presented makes the subject come alive in application. . . a refreshing change from the curve-shifting that dominates traditional microeconomic texts which turns-off so many of our students and prevents them from seeing the crucial importance of economics to almost every aspect of our well-being. John Lodewijks, University of Western Sydney, Australia This thoroughly accessible textbook shows students how microeconomic theory can be used and applied to major issues of public policy. In this way, it will improve their understanding of both microeconomic theory and policy and also develop their ability to critically assess them. Clem Tisdell and Keith Hartley have expanded upon their previous successful work on microeconomics. As a result, this new book is considerably updated with substantial chapter revisions, as well as new chapters dealing with business management, ownership, environmental issues, public choice, defence, conflict and terrorism. Promoting a thorough understanding of this complex yet fundamental topic, Microeconomic Policy: A New Perspective will undoubtedly prove an invaluable textbook for all students, academics and researchers of economics and public policy.
Download or read book Scroogenomics written by Joel Waldfogel and published by Princeton University Press. This book was released on 2009-10-25 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economist Joel Waldfogel illustrates how our consumer spending generates vast amounts of economic waste--to the shocking tune of $85 billion each winter. He provides solid explanations to show us why it's time to stop the madness and think twice before buying gifts for the holidays. Gift giving is different than shopping for our own needs: we make less-informed choices, max out on credit to buy gifts worth less than the money spent, and leave recipients less than satisfied, creating what Waldfogel calls "deadweight loss." And this waste isn't confined to Americans--most major economies share in this orgy of wealth destruction. While recognizing the difficulties of altering current trends, he offers viable alternatives. By reprioritizing our gift-giving habits, Scroogenomics proves that we can still maintain the economy without gouging our wallets, and reclaim the true spirit of the holiday season.--From publisher description.
