Download or read book Essays on Microeconomic Applications in Political Economy and Business Strategy written by Lei Cheng and published by . This book was released on 2016 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses the sudden deaths of retired government officials who were acting as independent directors of private firms to study the effects of losing political connections on the firm's economic performance. Employing an event study, we find that, if a private firm loses political connections because of the sudden death of an independent director who was previously a government official, its stock price drops 1.47% on average within ten trading days. Moreover, after the sudden loss of political connections, there is a reduction in the economic benefits (e.g., bank loans, tax preference, and government subsidies) that a private firm can get from the government or banks, which provides a reasonable explanation for the negative stock price reaction. This paper also finds that, when a politically connected private firm unexpectedly loses its political connection, it increases investments in physical capital in order to regain its competitive advantage, which suggests that physical capital serves as a substitute for political capital.
Download or read book Essays on Microeconomic Theory with Applications in Political and Resource Economics written by Yang Xie and published by . This book was released on 2016 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is an exhibition of applied microeconomic theory in political and resource economics. As three examples, I investigate three different questions, respectively: Does polarization of beliefs always intensify political gridlock in collective decision making? Will input-efficiency improvement in water use, e.g., adoption of more-efficient irrigation technologies and investment in water-conveyance systems, definitely decrease the demand for water-storage capacities, e.g., dams and reservoirs? Is collectivism, rather than individualism, generally helping society overcome the collective action problem? Using the game-theory or stochastic-control approach, I theoretically challenge conventional wisdoms about these questions, and illustrate the empirical relevance of my challenges, qualitatively or quantitatively, in different contexts, e.g., the Chinese transition from the planned economy, World War II and Operation Market--Garden, the irrigation water-inventory management of the California State Water Project, and the histories of collective action in China and Europe.
Download or read book Microeconomics for Business and Marketing written by Peter E. Earl and published by Edward Elgar Publishing. This book was released on 1995 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text, which is designed for intermediate-level students of microeconomics, offers a series of alternative approaches to economic analysis. It emphasizes practical problem-solving, making it relevant to students of business and commerce. As well as neoclassical microeconomics, it seeks to promote an awareness of different approaches, including the application of behavioural-institutionalist economics to real world problems. Rather than emphasizing technical set pieces, this book offers students a range of approaches such as behavioural theories of consumer choice and institutionalist analysis of the economics.
Download or read book Three Essays on Applied Microeconomics and Corporate Strategy written by Xia Li and published by . This book was released on 2013 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation focuses on applied microeconomics and corporate strategy.
Download or read book Essays in Honour of Victoria Chick Methodology microeconomics and Keynes written by Victoria Chick and published by Psychology Press. This book was released on 2002 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, a companion to Money, Macroeconomics and Keynes, represents both consolidation and the breaking of new ground in Keynesian methodology and microeconomics by leading figures in these fields.
Download or read book Essays in Microeconomics written by Luca Braghieri and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation explores various topics at the intersection of behavioral economics and political economy. It develops a theory of preference formation, investigates the effects of social media use, and studies the relationship between social image concerns and effective communication in the context of the political correctness debate. The first chapter, coauthored with B. Douglas Bernheim, Alejandro Martínez-Marquina, and David Zuckerman, develops a theory of preference formation. Specifically, we propose and develop a dynamic theory of endogenous preference formation in which people adopt worldviews that shape their judgments about their experiences. The framework highlights the role of mindset flexibility, a trait that determines the relative weights the decision maker places on her current and anticipated worldviews when evaluating future outcomes. The theory generates rich behavioral dynamics, thereby illuminating a wide range of applications and providing potential explanations for a variety of observed phenomena. The second chapter, coauthored Hunt Allcott, Sarah Eichmeyer, and Matthew Gentzkow, studies the effects of social media use. The rise of social media has provoked both optimism about potential societal benefits and concern about harms such as addiction, depression, and political polarization. In a randomized experiment, we find that deactivating Facebook for the four weeks before the 2018 US midterm election (i) reduced online activity, while increasing offline activities such as watching TV alone and socializing with family and friends; (ii) reduced both factual news knowledge and political polarization; (iii) increased subjective well-being; and (iv) caused a large persistent reduction in post-experiment Facebook use. Deactivation reduced post-experiment valuations of Facebook, suggesting that traditional metrics may overstate consumer surplus. The third chapter studies the relationship between social image concerns and effective communication in the context of the political correctness debate. Specifically, I study theoretically and experimentally whether social image concerns around topics related to political correctness on college campuses lead students to publicly state opinions that they do not privately hold, and whether such distortions diminish the informativeness of statements made in public. The theoretical framework underlying the experiment - a signaling model with lying costs - suggests that social image concerns may distort the sensitive socio-political attitudes that students report in public compared to the ones they hold in private, but that such distortions need not necessarily imply a loss of information. The results of the experiment show that: i) social image concerns drive a wedge between the sensitive socio-political attitudes that college students report in private and in public; ii) public utterances are less informative than private utterances according to a host of measures of informativeness suggested by the theoretical model; iii) information loss is exacerbated by the fact that the natural audience in the environment, namely other college students, are partially naive about the ways in which social image concerns distort their peers' public statements.
Download or read book Readings in Public Choice and Constitutional Political Economy written by Charles Rowley and published by Springer Science & Business Media. This book was released on 2008-08-09 with total page 617 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public choice is the study of behavior at the intersection of economics and political science. Since the pioneering work of Duncan Black in the 1940s, public choice has developed a rich literature, drawing from such related perspectives as history, philosophy, law, and sociology, to analyze political decision making (by citizen-voters, elected officials, bureaucratic administrators, lobbyists, and other "rational" actors) in social and economic context, with an emphasis on identifying differences between individual goals and collective outcomes. Constitutional political economy provides important insights into the relationship between effective constitutions and the behavior of ordinary political markets. In Readings in Public Choice and Constitutional Political Economy, Charles Rowley and Friedrich Schneider have assembled an international array of leading authors to present a comprehensive and accessible overview of the field and its applications. Covering a wide array of topics, including regulation and antitrust, taxation, trade liberalization, political corruption, interest group behavior, dictatorship, and environmental issues, and featuring biographies of the founding fathers of the field, this volume will be essential reading for scholars and students, policymakers, economists, sociologists, and non-specialist readers interested in the dynamics of political economy.
Download or read book Productivity Change Public Goods and Transaction Costs written by Yoram Barzel and published by Edward Elgar Publishing. This book was released on 1995 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: This selection of Barzel's papers focuses upon issues in microeconomics. They cover production functions and productivity, optimal timing, labour, public choice, industrial organization, demand analysis, and property rights and transaction costs. Key contributions featured in this collection include Some Observations on the Index Number Problem, An Alternative Approach to the Analysis of Taxation, An Economic Analysis of Slavery and Measurement Cost and the Organization of Markets.
Download or read book Demand for Communications Services Insights and Perspectives written by James Alleman and published by Springer Science & Business Media. This book was released on 2013-10-07 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume grew out of a conference organized by James Alleman and Paul Rappoport, conducted on October 10, 2011 in Jackson Hole, Wyoming, in honor of the work of Lester D. Taylor, whose pioneering work in demand and market analysis has had profound implications on research across a wide spectrum of industries. In his Prologue, Eli M. Noam notes that demand analysis in the information sector must recognize the “public good” characteristics of media products and networks, while taking into account the effects of interdependent user behavior; the strong cross-elasticities in a market; as well as the phenomenon of supply creating its own demand. The second Prologue, by Timothy Tardiff and Daniel Levy, focuses more specifically on Taylor’s body of work, in particular its practical applications and usefulness in analyses of, and practices within, the Information and Communications Technology (ICT) sector (known in Europe and elsewhere as the Telecommunications, Media, and Technology (TMT) sector). The remainder of the book is organized into four parts: Advances in Theory; Empirical Applications; Evidence-Based Policy Applications; and a final Conclusion. The book closes with an Appendix by Sharon Levin and Stanford Levin detailing Taylor’s contributions using bibliometrics. Not only featuring chapters from distinguished scholars in economics, applied sciences, and technology, this volume includes two contributions directly from Lester Taylor, providing unique insight into economics from a lifetime in the field. “What a worthy book! Every applied researcher in communications encounters Lester Taylor’s work. Many empirical exercises in communications can trace their roots to Taylor’s pioneering research and his thoughtful leadership. This book assembles an impressive set of contributors and contributions to honor Taylor. No surprise, the collection extends far and wide into many of the core topics of communications and media markets. The emphasis is where it should be–on important and novel research questions informed by useful data. —Shane Greenstein, Professor of Management and Strategy, Kellogg School of Management, Northwestern University “For more than 40 years, Lester Taylor has been a leader in the application of consumer modeling, econometric techniques and microeconomic data to understand residential and business user behavior in telecommunications markets. During that time, he inspired a cadre of students and colleagues who applied this potent combination to address critical corporate and regulatory issues arising in the telecommunications sector. This volume collects the recent product of many of these same researchers and several other devotees who go beyond empirical analysis of fixed line service by extending Prof. Taylor’s approach to the next wave of services and technologies. These contributions, including two new papers by Prof. Taylor, offer an opportunity for the next generation to learn from his work as it grapples with the pressing issues of consumer demand in the rapidly evolving digital economy.” — Glenn Woroch, Adjunct Professor of Economics, University of California, Berkeley
Download or read book The Selected Essays of Richard G Lipsey Microeconomics growth and political economy written by Richard G. Lipsey and published by . This book was released on 1997 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Microeconomics written by Samuel Bowles and published by Oxford University Press. This book was released on 2022 with total page 1068 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bowles and Halliday capture the intellectual excitement, analytical precision, and policy relevance of the new microeconomics that has emerged over the past decades. Drawing on themes of the classical economists from Smith through Marx and 20th century writers - including Hayek, Coase, and Arrow - the authors use twenty-first century analytical methods to address enduring challenges in economics. The subtitle of the work - Competition, conflict, and coordination - signals their focus on how the institutions of a modern capitalist economy work, introducing students to recent developments in the microeconomics of credit and labor markets with asymmetric information, a dynamic analysis of how firms compete going beyond price taking, as well as bargaining over the gains from exchange, social norms, and the exercise of power. The new benchmark model proposed by Bowles and Halliday is based on an empirical approach to economic actors and problems. They start from the premise that contracts are incomplete, and that as a result market failures, rather than being a special case illustrated by environmental spillovers, are to be expected in markets for labor, credit, knowledge and throughout the economy. They explain how experiments show that human motivations include ethical as well as other-regarding preferences (rather than entirely self-interested) and explain why the technologies of knowledge-based economies are a source of winner-take-all rather than stable competition. The authors also consider the intrinsic limits of mechanism design and governmental interventions in the economy. Teaching recent developments in microeconomic theory allows the authors to provide students with the tools to analyze and engage in informed debate on the issues that concern them most: climate change, inequality, innovation, and epidemic spread. Tradeoffs are highlighted by providing models in which capitalism can be seen as an "innovation machine" that raises material living standards on average, while at the same time sustaining levels of inequality that many find to be unfair. Digital formats and resources This title is available for students and institutions to purchase in a variety of formats and is supported by online resources. The e-book offers a mobile experience and convenient access to a variety of features that offer extra learning support. It allows students to engage in self-assessment activities, watch video material that further explains figures and mathematics, and offers the opportunity to work with interactive graphs to understand how the models work. Drawing on the authors' decades of teaching the new microeconomics, this title is supported by a range of online resources for students and lecturers including multiple-choice-questions with instant feedback, further mathematical and discussion-based questions, a fully customizable test bank for lecturer use, PowerPoint slides to accompany each chapter, worksheets that can be assigned to the class, and answers to the problems set in the book.
Download or read book Essays in Dynamic Political Economy written by Germán Sergio Gieczewski and published by . This book was released on 2016 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dissertation consists of three essays on dynamic problems in political economy. The first essay studies motivated communication on networks. Agents have some hard information about the world and choose whether to tell their neighbors. Information received from other agents can be shared in later meetings. Agents' preferences are mis-aligned, tempting senders to lie by omission. The model yields three main conclusions. First, there is incomplete learning. Second, signals that are close to the mean are more likely to propagate. The reason is that moderate signals travel in both directions, whereas extreme signals are communicated in a predictable direction, which stifles their propagation. Third, if agents are forward-looking, concerns about informational cascades lead to segmentation: agents with close preferences hide information from each other to prevent it from traveling further. The second essay analyzes the evolution of organizations that allow free entry and exit of members, such as cities, trade unions, religious organizations and cooperatives. The organization chooses a policy, which influences the set of agents who want to become members, but current members decide policy in the next period. This generates feedback effects: an organization with a policy x may attract a population with a median-preferred policy higher than x, so a higher policy will be chosen in the next period; but the new policy will attract members wanting an even higher policy, and so on. The set of steady states is pinned down by the preference distribution; equilibrium paths converge to these steady states depending on the starting position. Unlike in models with a fixed population, a small change in the preference distribution can cause dramatic changes in the long-run policy. The third essay studies the impact of term limits on elections where biased candidates compete through ability investments and platform choice. Good politicians facing weak competition extract policy rents, which lowers welfare. Moreover, incumbents exacerbate rent extraction by deterring challenger entry. Term limits alleviate this problem by creating open elections. However, they also lower incumbent quality, so their overall impact is ambiguous. Strong limits are better when politicians are more biased, and challengers' entry cost is intermediate.
Download or read book Contributions to Political Economy written by and published by . This book was released on 1996 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Analytical Political Economy written by Roberto Veneziani and published by John Wiley & Sons. This book was released on 2018-06-11 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering a unique picture of recent developments in a range of non-conventional theoretical approaches in economics, this book introduces readers to the study of Analytical Political Economy and the changes within the subject. Includes a wide range of topics and theoretical approaches that are critically and thoroughly reviewed Contributions within the book are written according to the highest standards of rigor and clarity that characterize academic work Provides comprehensive and well-organized surveys of cutting-edge empirical and theoretical work covering an exceptionally wide range of areas and fields Topics include macroeconomic theories of growth and distribution; agent-based and stock-flow consistent models; financialization and Marxian price and value theory Investigates exploitation theory; trade theory; the role of expectations and ‘animal spirits’ on macroeconomic performance as well as empirical research in Marxian economics
Download or read book Essays on Microeconomic Foundations of Business Strategy written by Florian Müller and published by . This book was released on 2007 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays In Dynamic Political Economy written by Benjarong Suwankiri and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: All observed government policies must pass through a political process. In many macroeconomic settings, the implemented policies affect the economy not only during the current period, but also the future path of the economy. In this dissertation, I investigate policies pertaining to immigration, redistribution, and poverty reduction. In the first chapter, I study how politics jointly determine the economy's redistribution and immigration policies. I develop a dynamic political economy model featuring three groups of voters: skilled workers, unskilled workers, and retirees. The model also features both inter- and intra-generational redistribution, resembling a welfare state. To analyze multi-group political economy equilibria, I extend the class of dynamic political games featuring Subgame-perfect Markov as its equilibrium concept. The analysis allows for strategic voting behavior, where voters may vote for a candidate not directly representing their group. Because the policy preference of the unskilled workers is the most intermediate, other groups may choose to side with this policy choice in order to avoid their least preferred candidate. For the unskilled workers, inequality plays a key role in determining the degree of redistribution. Therefore, immigration ultimately affects the generosity of the welfare state by altering the level of inequality in the economy. The objectives of the second chapter are twofold. First, the chapter tries to understand the relationship between immigration and asset prices. The analysis reveals that the asset price responds positively to immigration. The immigration's influence goes through four channels: increasing saving, increasing marginal product of capital, decreasing marginal cost of investment, and raising population growth rate. After the preceding analysis, I study how different cohorts will harness these benefits through political interactions. This exercise reveals that the young cohort may have a strategic motive to influence the identity of the decisive voter in the next period to ensure the highest return on their savings in retirement. In addition, the model also predicts that the uncertainty in the population growth rate of the immigrants will lower these immigration quotas. The last chapter moves away from international policy arena and focuses domestically on escaping a poverty trap. Prior studies conclude that redistribution is a futile policy against this vicious cycle of poverty. I revisit this line of literature and show contrary to this conclusion that redistribution can help the economy escape the poverty trap. I characterize a necessary sequence of lump-sum taxes and transfers and show that this scheme will move the economy out of the poverty trap in finite time regardless of the economy's initial distribution of wealth. Unfortunately, I also show that neither basic democracy nor dictatorship can take the economy there with this policy scheme. The rationale for this is the following. The proposed escape route from poverty requires an economic input from the richer group. However, the shift in the decisive political influence during the path of development, from the hands of the poor to the hands of the rich, will put an end to this pro-poor policy scheme.
Download or read book The Encyclopedia of Public Choice written by Charles Rowley and published by Springer Science & Business Media. This book was released on 2008-01-25 with total page 1142 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Encyclopedia provides a detailed and comprehensive account of the subject known as public choice. However, the title would not convey suf- ciently the breadth of the Encyclopedia’s contents which can be summarized better as the fruitful interchange of economics, political science and moral philosophy on the basis of an image of man as a purposive and responsible actor who pursues his own objectives as efficiently as possible. This fruitful interchange between the fields outlined above existed during the late eighteenth century during the brief period of the Scottish Enlightenment when such great scholars as David Hume, Adam Ferguson and Adam Smith contributed to all these fields, and more. However, as intell- tual specialization gradually replaced broad-based scholarship from the m- nineteenth century onwards, it became increasingly rare to find a scholar making major contributions to more than one. Once Alfred Marshall defined economics in neoclassical terms, as a n- row positive discipline, the link between economics, political science and moral philosophy was all but severed and economists redefined their role into that of ‘the humble dentist’ providing technical economic information as inputs to improve the performance of impartial, benevolent and omniscient governments in their attempts to promote the public interest. This indeed was the dominant view within an economics profession that had become besotted by the economics of John Maynard Keynes and Paul Samuelson immediately following the end of the Second World War.
