Download or read book Understanding the Process of Economic Change written by Douglass C. North and published by Princeton University Press. This book was released on 2010-05-09 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this landmark work, a Nobel Prize-winning economist develops a new way of understanding the process by which economies change. Douglass North inspired a revolution in economic history a generation ago by demonstrating that economic performance is determined largely by the kind and quality of institutions that support markets. As he showed in two now classic books that inspired the New Institutional Economics (today a subfield of economics), property rights and transaction costs are fundamental determinants. Here, North explains how different societies arrive at the institutional infrastructure that greatly determines their economic trajectories. North argues that economic change depends largely on "adaptive efficiency," a society's effectiveness in creating institutions that are productive, stable, fair, and broadly accepted--and, importantly, flexible enough to be changed or replaced in response to political and economic feedback. While adhering to his earlier definition of institutions as the formal and informal rules that constrain human economic behavior, he extends his analysis to explore the deeper determinants of how these rules evolve and how economies change. Drawing on recent work by psychologists, he identifies intentionality as the crucial variable and proceeds to demonstrate how intentionality emerges as the product of social learning and how it then shapes the economy's institutional foundations and thus its capacity to adapt to changing circumstances. Understanding the Process of Economic Change accounts not only for past institutional change but also for the diverse performance of present-day economies. This major work is therefore also an essential guide to improving the performance of developing countries.

Download or read book Adaptive Markets written by Andrew W. Lo and published by Princeton University Press. This book was released on 2019-05-14 with total page 503 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can’t agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe. The debate is one of the biggest in economics, and the value or futility of investment management and financial regulation hangs on the answer. In this groundbreaking book, Andrew Lo transforms the debate with a powerful new framework in which rationality and irrationality coexist—the Adaptive Markets Hypothesis. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency is incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo’s new paradigm explains how financial evolution shapes behavior and markets at the speed of thought—a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation. An ambitious new answer to fundamental questions about economics and investing, Adaptive Markets is essential reading for anyone who wants to understand how markets really work.

Download or read book Adaptive Efficiency During the Great Recession written by Robert Fritzsch and published by Springer. This book was released on 2019-07-30 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robert Fritzsch provides an institutional economic analysis of the Great Recession. The author shows that institutions matter as determinants of crisis resilience - however in a different way than predicted by the prominent theories of Olson (1982) and North, Wallis, Weingast (2009), as the crisis was most severe in developed countries with democratic political institutions, rule of law and restrained regulations. The empirical results support theoretical predictions only within the sub-group of developed countries, where rule of law and restrained regulations show a positive association with crisis resilience.

Download or read book The Master Adaptive Learner written by William Cutrer and published by Elsevier Health Sciences. This book was released on 2019-09-29 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tomorrow's best physicians will be those who continually learn, adjust, and innovate as new information and best practices evolve, reflecting adaptive expertise in response to practice challenges. As the first volume in the American Medical Association's MedEd Innovation Series, The Master Adaptive Learner is an instructor-focused guide covering models for how to train and teach future clinicians who need to develop these adaptive skills and utilize them throughout their careers. - Explains and clarifies the concept of a Master Adaptive Learner: a metacognitive approach to learning based on self-regulation that fosters the success and use of adaptive expertise in practice. - Contains both theoretical and practical material for instructors and administrators, including guidance on how to implement a Master Adaptive Learner approach in today's institutions. - Gives instructors the tools needed to empower students to become efficient and successful adaptive learners. - Helps medical faculty and instructors address gaps in physician training and prepare new doctors to practice effectively in 21st century healthcare systems. - One of the American Medical Association Change MedEd initiatives and innovations, written and edited by members of the ACE (Accelerating Change in Medical Education) Consortium – a unique, innovative collaborative that allows for the sharing and dissemination of groundbreaking ideas and projects.

Download or read book Institutional Change And Adaptive Efficiency A Study Of China s Hukou System Evolution written by Tony J Saich and published by World Scientific. This book was released on 2023-11-06 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1990s, neo-institutionalists have posited that 'institutions matter'. However, they overlook one important issue: the ways institutions change also matters. Numerous academic studies have identified 'good' and 'bad' institutions, but little has been written about effective methods of transforming 'bad' institutions so that they enhance economic performance. To fill this gap, this book reframes the approach of neo-institutional economics to analyze institutions' role and evolution, focusing on the interaction between the household registration (hukou) system evolution and economic transformation.The authors apply an endogenous and dynamic perspective. First, the theory of endogenous institutional change illustrates how the drivers of hukou system evolution differ in the pre-reform and reform eras. Second, the theory of adaptive efficiency evaluates the evolution of the system's institutional efficiency. Finally, the authors were able to test the impact of the hukou reform on urban economic growth by examining local experimentation, helping explain the current 'stickiness' of the system.At the heart of hukou reform lies the question of how to deal with the link between hukou and welfare provision. This book will offer policymakers a better understanding of institutional change in dynamic economic contexts, helping them enhance economic performance.

Download or read book The Agile Approach to Adaptive Research written by Michael J. Rosenberg and published by Wiley. This book was released on 2010-02-08 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Apply adaptive research to improve results in drug development The pharmaceutical industry today faces a deepening crisis: inefficiency in its core business, the development of new drugs. The Agile Approach to Adaptive Research offers a solution. It outlines how adaptive research, using already-available tools and techniques, can enable the industry to streamline clinical trials and reach decision points faster and more efficiently. With a wealth of real-world cases and examples, author Michael Rosenberg gives readers a practical overview of drug development, the problems inherent in current practices, and the advantages of adaptive research technology and methods. He explains the concepts, principles, and specific techniques of adaptive research, and demonstrates why it is an essential evolutionary step toward improving drug research and development. Chapters explore such subjects as: The adaptive concept Design and operational adaptations Sample-size reestimation Agile clinical development Safety and dose finding Statistics in adaptive research, including frequentist and Bayesian approaches Data management technologies The future of clinical development By combining centuries-old intellectual foundations, recent technological advances, and modern management techniques, adaptive research preserves the integrity and validity of clinical research but dramatically improves efficiency.

Download or read book Efficient and Adaptive Estimation for Semiparametric Models written by Peter J. Bickel and published by Springer. This book was released on 1998-06-01 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with estimation in situations in which there is believed to be enough information to model parametrically some, but not all of the features of a data set. Such models have arisen in a wide context in recent years, and involve new nonlinear estimation procedures. Statistical models of this type are directly applicable to fields such as economics, epidemiology, and astronomy.

Download or read book Least Mean Square Adaptive Filters written by Simon Haykin and published by John Wiley & Sons. This book was released on 2003-09-08 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: Edited by the original inventor of the technology. Includes contributions by the foremost experts in the field. The only book to cover these topics together.

Download or read book When More Is Not Better written by Roger L. Martin and published by Harvard Business Press. This book was released on 2020-09-29 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: American democratic capitalism is in danger. How can we save it? For its first two hundred years, the American economy exhibited truly impressive performance. The combination of democratically elected governments and a capitalist system worked, with ever-increasing levels of efficiency spurred by division of labor, international trade, and scientific management of companies. By the nation's bicentennial celebration in 1976, the American economy was the envy of the world. But since then, outcomes have changed dramatically. Growth in the economic prosperity of the average American family has slowed to a crawl, while the wealth of the richest Americans has skyrocketed. This imbalance threatens the American democratic capitalist system and our way of life. In this bracing yet constructive book, world-renowned business thinker Roger Martin starkly outlines the fundamental problem: We have treated the economy as a machine, pursuing ever-greater efficiency as an inherent good. But efficiency has become too much of a good thing. Our obsession with it has inadvertently shifted the shape of our economy, from a large middle class and smaller numbers of rich and poor (think of a bell-shaped curve) to a greater share of benefits accruing to a thin tail of already-rich Americans (a Pareto distribution). With lucid analysis and engaging anecdotes, Martin argues that we must stop treating the economy as a perfectible machine and shift toward viewing it as a complex adaptive system in which we seek a fundamental balance of efficiency with resilience. To achieve this, we need to keep in mind the whole while working on the component parts; pursue improvement, not perfection; and relentlessly tweak instead of attempting to find permanent solutions. Filled with keen economic insight and advice for citizens, executives, policy makers, and educators, When More Is Not Better is the must-read guide for saving democratic capitalism.

Download or read book Handbook of Adaptive Designs in Pharmaceutical and Clinical Development written by Annpey Pong and published by CRC Press. This book was released on 2016-04-19 with total page 475 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to the US FDA's Critical Path Initiative, innovative adaptive designs are being used more and more in clinical trials due to their flexibility and efficiency, especially during early phase development. Handbook of Adaptive Designs in Pharmaceutical and Clinical Development provides a comprehensive and unified presentation of the princip

Download or read book Validity Reliability and Efficiency of Comparative Judgement to Assess Student Work written by Sven De Maeyer and published by Frontiers Media SA. This book was released on 2023-01-13 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Climate Change Adaptive Capacity And Development written by Saleemul Huq and published by World Scientific. This book was released on 2003-08-12 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Third Assessment Report of the Intergovernmental Panel on Climate Change (IPCC) has presented strong evidence that human-induced climate change is occurring and that all countries of the world will be affected and need to adapt to impacts. The IPCC points out that many developing countries are particularly vulnerable because of their relatively low adaptive capacity. Therefore it is seen as a development priority to help these countries enhance their adaptive capacity to climate change.The Potsdam Institute for Climate Impact Research and Stratus Consulting organized a workshop in the fall of 2001 to develop an agenda for research on how best to enhance the capacity of developing countries to adapt to climate change. This research agenda is relevant for governments and institutions that wish to support developing countries in adapting to climate change. The workshop brought together experts from developing and industrialized countries, non-governmental organizations, and multilateral and bilateral donor organizations to discuss a number of important topics related to adaptation, adaptive capacity and sustainable development. A dozen papers were commissioned to cover these topics, both from a theoretical perspective and in the form of national case studies. The papers form the basis for this important book, which presents the latest interdisciplinary knowledge about the nature and components of adaptive capacity and how it may be strengthened./a

Download or read book Adaptive Space How GM and Other Companies are Positively Disrupting Themselves and Transforming into Agile Organizations written by Michael J. Arena and published by McGraw Hill Professional. This book was released on 2018-06-15 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lack of Agility is the kiss of death. Position your company to succeed in world of change.To edge out the competition in today’s disruptive environment, you need to ensure that your company is agile—that it can respond to change instantly and effectively. Because fast and furious change is the only thing you can count on in business today.Network expert Michael Arena helped enable GM’s legendary turnaround. In these pages, he explains how you can transform your own company through the concept of adaptive space. Based on hundreds of interviews and the author’s own groundbreaking study of dozens of organizations spanning a variety of industries, Adaptive Space shows how to position your company for today—and for the future—by enabling creativity, innovation, and novel ideas to flow freely among teams, across departments, and throughout the company. Using GM as the main case study—along with the stories of other highly adaptive organizations, like Apple, Amazon, Disney, and Gore—Arena provides a model you can follow to reinvent your company. It’s about inspiring employees to explore new ideas, empowering the most creative people and teams to spread their ideas across the organization, and operationalizing the entrepreneurial spirit so adaptability is set in stone. Hesitation is a killer in today’s business landscape. With Adaptive Space, you have everything you need to confront disruption with smart, confident actions and seize the valuable opportunities that come with change.

Download or read book Courts Justice and Efficiency written by Hector Fix-Fierro and published by Hart Publishing. This book was released on 2003-12-31 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores the socio-legal context of economic rationality in the legal and judicial systems. It examines the meaning and relevance of the concept of efficiency for the operation of courts and court systems,seeking to answer questions such as: in what sense can we say that the adjudicative process works efficiently? What are the relevant criteria for the measurement and assessment of court efficiency? Should the courts try to operate efficiently and to what extent is this viable? What is the proper relationship between 'efficiency' and 'justice' considerations in a judicial proceeding? To answer these questions, a conceptual framework is developed on the basis of empirical studies and surveys carried out mainly in the United States, Western Europe and Latin America. Two basic ideas emerge from it. First, economic rationality has penetrated the legal and judicial systems at all levels and dimensions, from the level of society as a whole to the day-to-day operation of the courts, from the institutional dimension of adjudication to the organizational context of judicial decisions. Far from being an alien value in the judicial process, efficiency has become an inseparable part of the structure of expectations we place on the legal system. Second, economic rationality is not the prevalent value in legal decision-making, as it is subject to all kinds of constraints, local conditions and concrete negotiations with other values and interests.

Download or read book The Theory of Dynamic Efficiency written by Jesús Huerta de Soto and published by Taylor & Francis. This book was released on 2009 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gathers a collection of multidisciplinary essays by Jess Huerta de Soto, examining the dynamic processes of social cooperation which characterize the market, with particular emphasis on the role of both entrepreneurship and institutions.

Download or read book Institutions and Economic Theory written by Eirik Grundtvig Furubotn and published by University of Michigan Press. This book was released on 2000 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive introduction to and critical assessment of the theory and applications of the New Institutional Economics.

Download or read book The future of energy efficiency in post COVID 19 era written by Muhammad Mohsin and published by Frontiers Media SA. This book was released on 2023-06-22 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: