Download or read book Social Choice and Bargaining Perspectives on Distributive Justice written by Wulf Gaertner and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is probably fair to say that there does not exist a unique and generally accepted not ion of justice. Even if one confines oneself to economic justice one can still get many answers to the question of how justice - henceforth we shall use the term "distributive justice" should be defined and characterized. This may be disappointing for the outside observer but one can also view this as achallenge, at least as long as one thinks that distributive justice is an issue economics should be concerned with. Many problems of distributive justice can be described as follows: There is a fixed collection of well-defined objects (usually commodi ties) which are quantitatively measurable and perfectly divisible. This collection is to be divided up among a certain number of individuals, the members of society, let 's say. According to which principles or rules should this distribution be carried out? Should people be rewarded according to their ability or according to their needs? Should the distribution be such that nobody envies the bundle of any other member of society? Should the collection of entities be distributed in a way that yields the greatest benefi.

Download or read book Theories of Distributive Justice written by John E. Roemer and published by Harvard University Press. This book was released on 1996 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: John Roemer has written a unique book that critiques economists' conceptions of justice from a philosophical perspective and philosophical theories of distributive justice from an economic one.

Download or read book Empirical Social Choice written by Wulf Gaertner and published by Cambridge University Press. This book was released on 2012 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first self-contained analysis of the use of questionnaire data to test theories of distributive justice.

Download or read book The Handbook of Rational and Social Choice written by Paul Anand and published by OUP Oxford. This book was released on 2009-01-15 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Rational and Social Choice provides an overview of issues arising in work on the foundations of decision theory and social choice over the past three decades. Drawing on work by economic theorists mainly, but also with contributions from political science, philosophy and psychology, the collection shows how the related areas of decision theory and social choice have developed in their applications and moved well beyond the basic models of expected utility and utilitarian approaches to welfare economics. Containing twenty-three contributions, in many cases by leading figures in their fields, the handbook shows how the normative foundations of economics have changed dramatically as more general and explicit models of utility and group choice have been developed. This is perhaps the first time these developments have been brought together in a manner that seeks to identify and make accessible the recent themes and developments that have been of particular interest to researchers in recent years. The collection will be of particular value to researchers in economics with interests in utility or welfare but it will also be of interest to any social scientist or philosopher interested in theories of rationality or group decision-making.

Download or read book A Primer in Social Choice Theory written by Wulf Gaertner and published by OUP Oxford. This book was released on 2009-04-23 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Processes of collective decision making are seen throughout modern society. How does a government decide on an investment strategy within the health care and educational sectors? Should a government or a community introduce measures to combat climate change and CO2 emissions, even if others choose not too? Should a country develop a nuclear capability despite the risk that other countries may follow their lead? This introductory text explores the theory of social choice. Social choice theory provides an analysis of collective decision making. The main aim of the book is to introduce students to the various methods of aggregating the preferences of all members of a given society into some social or collective preference. Written as a primer suitable for advanced undergraduates and graduates, this text will act as an important starting point for students grappling with the complexities of social choice theory. With all new chapter exercises this rigorous yet accessible primer avoids the use of technical language and provides an up-to-date discussion of this rapidly developing field.

Download or read book A Theory of Justice written by John RAWLS and published by Harvard University Press. This book was released on 2009-06-30 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: Though the revised edition of A Theory of Justice, published in 1999, is the definitive statement of Rawls's view, so much of the extensive literature on Rawls's theory refers to the first edition. This reissue makes the first edition once again available for scholars and serious students of Rawls's work.

Download or read book Non Cooperative Planning Theory written by Peter Bogetoft and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: Planning in a general sense is concerned with the design of communication and decision making mechanisms in organizations where information and choice are decentralized. Non-cooperative planning theory as it is developed in this book treats the incentive aspects hereof. It stresses how strategic behavior and opportunism may impede planning, and how this can be coped with via the organization of communication and decision making, the design of information and control systems, and the development of incentive schemes. In particular, the book contains a thorough investigation of incentive provision in information production.

Download or read book Exogeneity in Error Correction Models written by Jean-Pierre Urbain and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the recent years, the study of cointegrated time series and the use of error correction models have become extremely popular in the econometric literature. This book provides an analysis of the notion of (weak) exogeneity, which is necessary to sustain valid inference in sub-systems, inthe framework of error correction models (ECMs). In many practical situations, the applied econometrician wants to introduce "structure" on his/her model in order to get economically meaningful coefficients. For thispurpose, ECMs in structural form provide an appealing framework, allowing the researcher to introduce (theoretically motivated) identification restrictions on the long run relationships. In this case, the validity of the inference will depend on a number of conditions which are investigated here. In particular,we point out that orthogonality tests, often used to test for weak exogeneity or for general misspecification, behave poorly in finite samples and are often not very useful in cointegrated systems.

Download or read book Stochastic Two Stage Programming written by Karl Frauendorfer and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stochastic Programming offers models and methods for decision problems wheresome of the data are uncertain. These models have features and structural properties which are preferably exploited by SP methods within the solution process. This work contributes to the methodology for two-stagemodels. In these models the objective function is given as an integral, whose integrand depends on a random vector, on its probability measure and on a decision. The main results of this work have been derived with the intention to ease these difficulties: After investigating duality relations for convex optimization problems with supply/demand and prices being treated as parameters, a stability criterion is stated and proves subdifferentiability of the value function. This criterion is employed for proving the existence of bilinear functions, which minorize/majorize the integrand. Additionally, these minorants/majorants support the integrand on generalized barycenters of simplicial faces of specially shaped polytopes and amount to an approach which is denoted barycentric approximation scheme.

Download or read book Environmental Kuznets Curves written by Michael P. Vogel and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Environmental Kuznets Curves - one of the most controversial issues of current environmental economics - suggest that economic growth may lead to environmental quality improvements. Why and under which circumstances this may be so, are the questions addressed in this book. The approach taken is formal, using techniques of static and dynamic optimisation. In addition, the main assumptions, arguments and conclusions are also presented in a non-formel way.

Download or read book Experimental Duopoly Markets with Demand Inertia written by Claudia Keser and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report portrays the results of experimental research on dynamic duopoly markets with demand inertia. Two methods of experimentation are studied: game-playing experiments where subjects interact spontaneously via computer terminals, and computer tournaments between strategies designed by subjects. The principal aim of this study is the understanding of boundedly rational decision making in the dynamic duopoly situation. 1. 1 Motivation The experiments examine a multistage duopoly game where prices in each period are the only decision variables. Sales depend on current prices and also on past sales (demand inertia). Applying the game-theoretic concept of subgame perfect equilibrium, the game is solved by backward induction. The result is a uniquely determined system of decision rules. However, we can hardly expect that human beings behave according to the equilibrium strategy of this game. It is unlikely that subjects are able to compute the equilibrium. And even if a subject is able to compute it, he might not make use of this knowledge. Only if he expects the others to behave according to the equilibrium, it is optimal for him to play the equilibrium strategy. We have evidence from several earlier experimental studies on oligopoly markets that, even in less complex oligopoly situations where the equilibrium solutions are very easy to compute, human behavior often is different from what is prescribed by normative theory. ! Normative theory is based on the concept of ideal rationality. However, human capabilities impose cognitive limits on rationality.

Download or read book Price Stabilization on World Agricultural Markets written by Bernd Lucke and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: International commodity markets have traditionally attracted the attention of economists, econometricians, and policy makers especially in and following politically tumultuous times. For instance, the primary commodity price boom of 1973/74 and the subsequent period of highly volatile world market prices initiated increased research on commodity markets which quickly focused on possible price stabilization schemes, particularly on buffer stocks. Simultaneously, the issue clearly advanced in priority on the political agenda, such that the United Nations Conference on Trade and Development (UNCTAD) proposed an "Integrated Program for Commodities" (IPC) intended to stabilize the world market prices of ten so-called "core commodities"l (UNCTAD (1974, 1976a), Behrman (1979)). Many developing nations welcomed the IPC almost enthusiastically, but it did not receive more than lukewarm support by major industrialized countries, apparently due to the experience with some thirty international commodity agreements past World War II2. Critical evaluations have, among others, been presented by McNicol (1978), Gordon-Ashworth (1984), and Macbean & Nguyen (1987). The most detailed of these studies is Gordon-Ashworth's, who concludes that "on balance ... the performance of international commodity agreements has been too unreliable and their distributive effects too uneven to secure the development goals that have been set" (1984, p. 284)3. Consequently, the IPC turned out to be quite controversial a topic on the UNCTAD's 1976 meeting in Nairobi and has not been able to gain any impetus since. lThese were cocoa, coffee, copper, cotton, jute, rubber, sisal, sugar, tea, and tin.

Download or read book Inventory Control written by Dieter Bartmann and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experts in operations research and developers of software application systems have been treading separate paths for many years. It is urgently necessary to reset this course so that the demanding requirements of variousCIM concepts can be realized. This is specially relevant for computer-based stock management. Both authors, with a number of years of practical experience behind them, have written this book with this objective in mind. The book shows how modern inventory control can be rationally structured with the help of OR. Two aspects are given importance:1) the necessary mathematical derivations are completely explained in detail so that the reader will be able to optimally handle a given situation with the help of the methods learned in this book, and 2) aside from the models, strong emphasis is given on numerical methods. Suitable algorithms are thoroughly explained for the more important cases.

Download or read book Planning Stability in Material Requirements Planning Systems written by Gerald Heisig and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: In logistics systems, the issue of planning stability has attracted increased attention and interest in recent years. This is mainly due to an increasing integration of planning systems both within and across companies in supply chain management. The propagation of adjustments in planning systems first acquired wide attention when MRP systems were employed as standard planning tools for material coordination. Within a rolling horizon framework the MRP application produced considerable planning instability which origins from uncertainties in the planner's exogenous environment as well as from endogenous sources. This book presents an analytical investigation that gives deep insight into the influence of different kind of inventory control rules on the stability of material planning systems under stochastic demand in a rolling horizon environment.

Download or read book Inventory Business Cycles and Monetary Transmission written by Riccardo Fiorito and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inventory changes constitute in all countries a small fraction of the Gross National Product but also a major source or an indicator of cyclical fluctuations. In this volume both possible ways of propagation are investigated by examining in the first part what macroeconomists have learned and still have to learn about inventories in the light of statistical definitions and problems. In the second part, the role of monetary shocks in propagating business cycles is considered through liquidity effects and in relation to inventory adjustment. A possible linkage between inventory and labor market is shown. Finally, new evidence and theoretical insights are provided on the linear-quadratic inventory model and its ability to discriminate econometrically among competing firm behavior.

Download or read book Production Planning in Automated Manufacturing written by Yves Crama and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book quantitative approaches are proposed for production planning problems in automated manufacturing. In particular techniques from operations research/combinatorial optimization provide ways to tackle these problems. Special attention is devoted to the efficient use of tools in production planning for automated manufacturing systems. The book presents models and tests solution strategies for different kinds of production decisions. A case study in the manufacturing of printed circuit boards highlights the methodology. This book will help understand the nature of production planning problems emerging in automated manufacturing and show how techniques from operations research may contribute to their solution.

Download or read book The Impact of Science on Economic Growth and its Cycles written by Arvid Aulin and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author shows that the enormous gap between theory and facts in modern macroeconomics can only be eliminated by nonlinear macroeconomic dynamics with the following special characteristics: First of all, only certain group-theoretical invariants generate the correct growth cycles with irregularly varying lengths, not any stochastic process as usually applied for this purpose. Furthermore, a special extended value function and generalized human capital are needed for a correct representation of scientific and technological innovation. Finally, the correct nonlinear macroeconomic dynamics are not reducible to microeconomics, for both of the above mentioned reasons.