Book Description
Robert Frank’s Microeconomics and Behavior covers the essential topics of microeconomics while exploring the relationship between economics analysis and human behavior. The book’s clear narrative appeals to students, and its numerous examples help students develop economic intuition. This book introduces modern topics not often found in intermediate textbooks. Its focus throughout is to develop a student’s capacity to “think like an economist.”
Customer Reviews:
Microeconomics without math.......2007-04-24
This is a fantastic book and an easy read. It bridges the gap between any basic principles of economics course and a more advanced micro theory text. A lot of the math its shed off, so if you are looking for hard core formulas...it might be a good idea to read something else or read this in combination with a more mathematically oriented book. Some chapters are engaging (like the one on the importance of Altruism) and overall the author delivers well written microeconomics reading.
Judgment, Choice and Rationality.......2004-05-03
As of late, microeconomic and macroeconomic theory has been incorporating social, psychological and social-psychological theory and concepts into the fold. This makes sense, for the quantification sans-psychology (social psychology) of analysis has been poor.
This author is well-versed in this area and articulates well the concepts which are important. However, as my colleagues have stated, the book does leave much to be desired in the mathematical-sense.
I would highly recommend this book to anyone interested in Judgment, Choice and Rationality (defined).
This book should be included in undergraduate curriculum.
Five stars because it accomplishes what it was designed for (non-mathematical approach to microeconomics).
Regards,
Tyler Markowsky
Fascinating.......2001-06-03
A must for who is genuinely interested in UNDERSTANDING and ENJOY the basis of neo-classical theory. Better than any other other book!
Mathematical--no. Fascinating--yes!.......2001-05-04
It's rare to find a text as enjoyable to read as Frank's in any subject, let alone microeconomics. The reader looking for the standard calculus-based, mathematical approach to micro should look elsewhere (Jehle and Reny is a great place to start). That's simply not the point of this text--the point is to provide the insight behind the models, as well as to promote critical thinking about the shortcomings of the traditional assumptions economists make. This text, combined with Jehle and Reny if one desires rigor as well, provides FAR more than any other single or multiple text combination available.
where's the math?.......2001-03-07
I'm studying out of this book for my intermediate micro course. Simply put, the text is good (but unremarkable) for what it is: a no-nonsense bridge between the usual undergraduate principles course and graduate course in microeconomic theory. However, I can't help but feel that Frank skims off too much math in the name of accessibility. This won't help the reader looking to go further in the subject, i.e., grad or b-school. This would be okay if the appendices packed the math, but this isn't the case: the appendices are on-line at the publisher's web site, which pretty much means if you want to follow the math, you need to be near a computer. A somewhat "mathier" text, that I highly recommend, is the latest edition of Varian's Intermediate Microeconomics.
Amazon.com
If getting and spending define our lives, then Juliet Schor now has us covered. Six years ago, her book The Overworked American scrutinized the getting part. It focused public attention on the disappearance of leisure and the harmful effects thereof on families and society. It sparked a debate over whether Americans really work as much as we proudly claim. (If so, how to explain the audience for Monday Night Football?) Nevertheless, Schor can take credit for helping push Congress into passing the Family Leave Act in 1993.
Now she is back with a critique of our spending. Schor notes that, despite rising wealth and incomes, Americans do not feel any better off. In fact, we tell pollsters we do not have enough money to buy everything we need. And we are almost as likely to say so if we make $85,000 a year as we are if we make $35,000. Schor believes that "keeping up with the Joneses" is no longer enough for today's media-savvy office workers. We set our sights on the lifestyles of those higher up the organizational chart. We seek to emulate characters on TV. For teenagers, "enough" is the idle splendor that hardly exists outside of what MTV un-ironically calls The Real World. Schor offers an original and provocative analysis of why many Americans feel driven and unhappy despite our success. As an alternative, she profiles several "downshifters" who've taken up voluntary simplicity in search of a more satisfying way of life. No policy solutions suggest themselves this time, only a change of heart. --Barry Mitzman
Book Description
The Overspent American explores why so many of us feel materially dissatisfied, why we work staggeringly long hours and yet walk around with ever-present mental "wish lists" of things to buy or get, and why Americans save less than virtually anyone in the world. Unlike many experts, Harvard economist Juliet B. Schor does not blame consumers' lack of self-discipline. Nor does she blame advertisers. Instead she analyzes the crisis of the American consumer in a culture where spending has become the ultimate social art.
Customer Reviews:
Excellent analysis of contemporary American.......2007-08-16
The title says it all, doesn't it. We want, want, want, and spend, spend, spend. When I worked in corrections, I often said to the inmates (who lusted after fancy cars, expensive sneakers, and gold jewelry): "We want things we don't need and can't afford, and it gets us into big trouble." This book explains why we are captivated by the spirit of more is more is more.
Interesting book, with a few flaws........2007-05-15
This is a very well researched book and has many interesting ideas on how to spend less and worry less about things we don't really "need" but really "want." My only concerns were in the section about "downshifters" - people who work less and make less, but are happier. The book notes that most people who "downshift" were only making $30,000 a year or so to start with - not a lot of room to maneuver downward. I was interested more in those who made much more but kept spending more, which she also alludes to. Still, a very interesting book, with some intriguing ideas about how to control expenditures.
Good book . . . but it left me hungry.......2006-12-17
I thought this was a very good book, but I guess I was expecting more from the author. Having just read Fast Food Nation and then getting this book right after, the layout and format was similar but what Eric Schlosser did, fell very short in Juliet B. Schor's book.
I wanted so much more but as each chapter came to an end, I felt very let down. I wanted to point my finger at the big corporations and say "see what you did" but I found myself finding fault more with the author than the corporations. I really wanted to read a well researched book on this topic so now I find myself reading the books she cited.
They were a few good parts of the book where the author made reference to the sitcom Friends and how we as americans making $40,000 to $ 60,000 a year are trying to keep up with the Jonese making 1 million per episode. Also that the Jonese are no longer our next door neighbors but with the expanse of the internet and TV our Jones are actors, singers and record producers. I found this to be so true and wanted more, but time and time again her argument ended right there.
It was here that the author's solution would then be picked up, and what is her solution you may ask? (scratching your head) communal living. I found this advantageous because I acutally expected the author to skirt the issue. Juliet B. Schor's example, why have every house buy a lawn mower when one house can and the neighborhood could share it. I found so many arguments to refute this (I live in New York, was one) that I felt the book did not give the topic the right amount of justice. So I'm still searching . . .
The Overspent American: Why We Want What We Don't Need.......2006-11-15
Outstanding, the book is very well written and documented. Juliet B. Schor gives very cogent anecdotes in the book concerning consumerism. As a matter of fact, being in the process of "upgrading" the appliances in the house for no apparent reason, the book totally redirected my excesses.
A must read for every hedonist, capitalistic American.
Explores the psychology of spending.......2006-07-03
To change behavior, it helps to understand behavior. This book does a great job exploring the psychology behind why people spend so much money.
Some of the topics it covers include
-the strange need to keep up with "the Joneses"
-how some material goods force you to spend more to maintain and upkeep them (i.e., auto, large house)
-how kids are influenced by peers and advertisements at an early age and subsequently pressure parents to buy stuff
-how certain professions lead you to spend more on clothes and cars in order to succeed in that profession
-the correlation between increased television watching and increased spending
-the willingness of people to spend significantly more for certain brand name items (purses, lipsticks, shoes) that provide no more quality than generic items
The book also gives solid advice about how to break the overspending habit and provides interesting examples of people who have "downshifted" their lives.
Once you understand the etiologies of your thoughts and desires, you are better able to control and redirect them. For anyone who wants to decrease or have more control over their spending behavior, this is a great book for them. Even if you consider yourself frugal already, this is still a very interesting book.
It is very concise at 170 pages (the rest is references) so it doesn't get boring or repetitive. I think it is more effective than the similar book Affluenza.
Book Description
This book brings together in one place the work of one of our most respected economic theorists, on a field in which he has played a large part in originating: the New Institutional Economics. Transaction cost economics, which studies the governance of contractual relations, is the branch of the New Institutional Economics with which Oliver Williamson is especially associated. Transaction cost economics takes issue with one of the fundamental building blocks in microeconomics: the theory of the firm. Whereas orthodox economics describes the firm in technological terms, as a production function, transaction cost economics describes the firm in organizational terms, as a governance structure. Alternative feasible forms of organization--firms, markets, hybrids, bureaus--are examined comparatively. The analytical action resides in the details of transactions and the mechanisms of governance. Transaction cost economics has had a pervasive influence on current economic thought about how and why institutions function as they do, and it has become a practical framework for research in organizations by representatives of a variety of disciplines. Through a transaction cost analysis, The Mechanisms of Governance shows how and why simple contracts give way to complex contracts and internal organization as the hazards of contracting build up. That complicates the study of economic organization, but a richer and more relevant theory of organization is the result. Many testable implications and lessons for public policy accrue to this framework. Applications of both kinds are numerous and growing. Written by one of the leading economic theorists of our time, The Mechanisms of Governance is sure to be an important work for years to come. It will be of interest to scholars and students of economics, organization, management, and law.
Customer Reviews:
Excellent on Transaction Cost Economics.......2004-09-23
This is an excellent book on transaction cost economics. Some familiarity with transaction cost economics is assumed. It contains, essentially, a selection set of essays and additional material from Williamson, about whose work I've also written on elsewhere, on my weblog MortazaviBlog. It is a great complement and development over the earlier book of essays from Williamson: The Economic Institutions of Capitalism.
Where Was The Editor?.......2004-01-02
Williamson might be a leading figure in his field, but he can't seem to organize ideas to save his life. It's almost as though he wrote the book in one stream of consciousness, and no one ever went back to check that things flowed, language made sense, etc. One of the most painful books I've ever read.
A boring style.......2002-07-03
Ok...a well recognized teacher from aleading university...strong content...but...but...such a boring book. Really annoying to read. A lot of words made by the author (to sound more scientific?)....hey O. Williamson, next time you writte a book....use a simple style with understandable sentences like the author of "Iraationnal Exuberrance"! Really, there are lots of other books more interesting on the topic...AVOID!!!
A classic of transaction cost economics.......2001-04-25
Oliver Williamson is one of the seminal figures of New Institutional Economics. "The Mechanisms of Governance" is the third book in which Williamson has collected his principal writings, while working them into a coherent whole. The earlier volumes, "Markets and Hierarchies" and "The Economic Institutions of Capitalism," are justly regarded as the foundational texts of the transaction costs economics school of institutional economics. "The Mechanisms of Governance" seems certain to join them as essentials for any legally literate economist or economically literate lawyer.
Transaction cost economics focuses on institutions, in contrast to neoclassical economics' focus on individuals, providing simple models that help us understand how institutions function and how they will respond to regulation. We can analogize transaction costs to friction: they are dead weight losses that reduce efficiency. They make transactions more costly and less likely to occur. Among the most important sources of transaction costs is the limited cognitive power of human decisionmakers. Unlike the Chicago School of law and economics, which posits the traditional concept of rational choice, Williamson asserts that rationality is bounded. Put another way, he assumes that economic actors seek to maximize their expected utility, but also that the limitations of human cognition often result in decisions that fail to maximize utility. Decisionmakers inherently have limited memories, computational skills, and other mental tools, which in turn limit their ability to gather and process information. As he demonstrates, this phenomenon, known as bounded rationality, has pervasive implications for understanding how institutions work.
Accordingly, Williamson's approach provides an analytical framework that is useful not only to economists, but also to lawyers and policymakers. Among other subjects, Williamson tackles such subjects as vertical integration, corporate governance, and industrial organization.
In sum, highly recommended. If so, you might ask, of course, why did I subtract one star? Mainly because of Williamson's unfortunate writing style. Although "The Mechanisms of Governance" is largely free of the recreational mathematics that plagues much modern economic writing, which is useful for those of us who flunked Differential Equations, it is very jargon-intensive. Worse yet, much of the jargon is self-created. All of which makes reading Williamson an effort-intensive project. Usually the cost-benefit analysis nevertheless comes out in his favor, but sometimes one puzzles out the jargon to find a rather obvious point that could have been conveyed far more simply.
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- Micromotives and Macrobehavior
- The Golden Rule and Self-Restraint
- The big picture relevance of details
- 1970s Freakonomics
- Great reading and very varied
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Micromotives and Macrobehavior (Fels Lectures on Public Policy Analysis)
Thomas C. Schelling
Manufacturer: W. W. Norton
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The Strategy of Conflict
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Prisoner's Dilemma
ASIN: 0393090094 |
Customer Reviews:
Micromotives and Macrobehavior.......2007-08-09
This is one of the best books I have ever read. I have read it at least three times and learn something new each time. Schelling is not only a great economist but a great writer. He has a knack for making arcane concepts accessible. I highly recommend it. This book uses economic methodology to tackle "non-economic" concepts, such as segregation, sorting and mixing and cooperation.
The Golden Rule and Self-Restraint.......2006-11-23
Schelling's book covertly drafts a model of economic support for the Golden Rule. While many of his examples may be repetitive, ultimately, we learn that by restraining ourselves in various enterprises, such as energy conservation, we are able to produce overall benefits for society. However, the hitch is that without critical mass or some basis for keeping rebels in line, no one adheres to the collective system and therefore no one benefits. Thus, the author intelligently posits an argument that in properly regulated environments, cooperation and selflessness produce stability and will lead to long-term success.
What is more interesting are Schelling's numerous examples and asides about human behavior that, once examined carefully, yield a greater understanding about everyday phenomena. For example, he writes, "Most people think that inflation reduces purchasing power without stopping to notice that their own pay increases are somebody else's inflation, and at least some of it must cancel out." This book is filled with such astute and not easily apparent statements. He also carries economic theory into social theory, showing that if all men married women four years younger than them where population is growing at three percent annually, eventually women of marrying age may outnumber men by more than 12%. The book has several of these nuggets, but leaves out an obvious and one of my favorite lessons about education: when a student goes to school, s/he not only "loses" the money s/he spends on tuition, but also her/his earning power during the years spent studying. For this reason, one could argue that it seems more sensical to attend school when there is a recession and to work when unemployment is low.
The glaring gap in this book is the problem of freeloaders--what do we do, for example, about the neighbor who waters his lawn excessively during a water shortage, thereby creating less incentive for others to conserve water? The author most likely believes that education will assist this problem, but this may be an idealistic notion at best. Still, Schelling manages to prove that cooperation rather than competition in some cases may produce better results, leading to viable arguments against selfish behavior.
The big picture relevance of details.......2006-03-25
I enjoyed this book for it's stimulating arguments and everyday examples of big picture, "big topics" issues. As a novice to any type of economic analysis I've found the book informative and interesting. I recommend this book to anybody wishing to increase their awareness of the relevance of everyday events and experience to bigger, more intellectual topics.
1970s Freakonomics.......2006-03-23
Game theory has been criticized for being able to explain anything, yet having little predictive capability. Whatever the case, Thomas Schelling's book is a gem. He takes everyday life phenomena and applies some systematic analysis as to why these things happen. It's a quick read and when you are done you too will keep viewing any issues coming your way as if they were seeking an equilibrium. With the varied topics and colorful examples it's the 1970s equivalent of "Freakonomics".
Great reading and very varied.......2005-11-18
This is probably Schelling's best book and is up against tough competition. But his mind is razor-sharp, his examples always fascinating and he is quite simply the best writer of economics around. This is not an introductory economics book - it's too original for that - but it is perfectly accessible to the general reader. Find out why neighbourhoods are segregated, why nobody sits in the front row of a lecture hall, and best of all, the economics of christmas card lists. A joy.
Book Description
In this novel introduction to modern microeconomic theory, Samuel Bowles returns to the classical economists' interest in the wealth and poverty of nations and people, the workings of the institutions of capitalist economies, and the coevolution of individual preferences and the structures of markets, firms, and other institutions. Using recent advances in evolutionary game theory, contract theory, behavioral experiments, and the modeling of dynamic processes, he develops a theory of how economic institutions shape individual behavior, and how institutions evolve due to individual actions, technological change, and chance events. Topics addressed include institutional innovation, social preferences, nonmarket social interactions, social capital, equilibrium unemployment, credit constraints, economic power, generalized increasing returns, disequilibrium outcomes, and path dependency.
Each chapter is introduced by empirical puzzles or historical episodes illuminated by the modeling that follows, and the book closes with sets of problems to be solved by readers seeking to improve their mathematical modeling skills. Complementing standard mathematical analysis are agent-based computer simulations of complex evolving systems that are available online so that readers can experiment with the models. Bowles concludes with the time-honored challenge of "getting the rules right," providing an evaluation of markets, states, and communities as contrasting and yet sometimes synergistic structures of governance. Must reading for students and scholars not only in economics but across the behavioral sciences, this engagingly written and compelling exposition of the new microeconomics moves the field beyond the conventional models of prices and markets toward a more accurate and policy-relevant portrayal of human social behavior.
Customer Reviews:
Brilliant synthesis of behavioral microeconomics.......2007-06-19
Samuel Bowles, a heterodox economist known for his long time cooperation with Herb Gintis on various cutting edge works in the field of behavioral economics and related subjects, has made a fantastic synthesis of all the material and conclusions in this area of research in "Microeconomics: Behavior, Institutions and Evolution".
As the title promises, Bowles makes extensive use of concepts from socio-evolutionary theory, institutional economics and anthropology, as well as applications from (evolutionary) game theory, to discuss the basics of economic choices, interaction, cooperation, and exchange. It may take a bit of adjusting at first, especially if one is not used to heterodox economics, since his well-written overview starts from very different points than most generic orthodox textbooks do. But it is very rewarding: all the relevant issues are presented in their complexity, nothing is swept under the carpet, and what makes this book in particular commendable is the way in which information from anthropology, psychology and the social sciences is weaven into the 'story'. The contrast with the ridiculous assumptions and the unrealistic or simply false simplistic models of standard neoclassical textbooks (like for example that of Mankiw) is striking.
It must be said that a proper understanding of all the arguments requires familiarity with intermediate level mathematics for economists, and the general level of abstraction and discussion is quite high, so this is not an easy book. Fortunately, this is mitigated somewhat by Bowles' clear writing, and sometimes he also takes the trouble (which unfortunately few economists do) of specifically explaining what the mathematical formulas mean, for people who have difficulty with somewhat advanced equations and the like. In any case, he relies quite correctly more on empirical arguments regarding problems of the common, of evolution of institutions, the workings of altruism, prisoner's dilemmas, and so on than on any kind of math (although these things can be expressed in math, often).
At the end, Bowles provides some problem sets organized by subject as in the book, to allow readers and students to grapple with the issues presented.
Overall, this is probably the best overview specifically about microeconomics currently in existence, and it's a shame that it is not the standard textbook in all economics classes on the subject. Much better than anything Mankiw, Barro etc. have ever produced.
Very strong, but flawed.......2006-03-30
In Microeconomics, Bowles applies game theory, the insights of experimental economics, a contested exchange theory of the firm based upon conflict and power, and endogenous formation of traits, to microeconomic theory.
This is probably the most developed statement of what Bowles has called "Post-Walrasian Economics." Essentially, a form of neoclassical economics in which the unrealistic assumptions of Walrasian/ perfectly competitve type economics are rejected and not merely replaced "imperfect" competition and information (e.g. some degree of divergence from the walrasian assumptions, using those assumptions as their reference point). Rather, Bowles gives complex, somewhat realistic descriptions of the non-Walrasian characteristics of the economy, many of which have a totally different qualitative side than the Walrasian model.
Bowles is largely successful, yet there are some problems. There is alot of calculus in this book, not at an incredibly high level, but this certainly limits the appeal of this book to many readers without an understanding of calculus. Also, many of the examples used in the models are very abstract. An agent is faced with a choice to "adopt a characteristic" when they "have an interaction" with some other agent. Nothing wrong with abstraction per se, but it would be nice to have a better idea of what real world issues these models have relevance for.
Also, Bowles rose to prominence as one of the top radical economists and one of the founders of the Union for Radical Political Economics. He apparently still has similar political views and much of this book supports the existence of pervasive market failures supports a left perspective. Yet, not much time is spent on the particular topics usually explored by radical models. Those aspects of the "conflict theory" of the firm which are most profound, such as the choice of technique being influenced by the need of the capitalist to maximize their bargaining power rather than efficiency, are mentioned but not explored in great detail. However, given the incredibly detailed exploration of various aspects of conflict in the labor process, the models developed in this book have great value for those looking to develop new radical models.
Also, this book is thoroughly neoclassical (albeit informed by the best advances in NC economics, even those which contradict age old staples of NC theory) in terms of price and distribution theory, etc... As someone who is heterodox in their beliefs about economics, this is bit of a disappointment for me. However, most of these insights could be integrated into heterodox theory.
There are also a few problematic claims in this book. Bowles apparently supports Duncan Foley's argument that if we focus on aggregate outcomes, the consequences of the SMD theorem are somewhat mitigated. Foley's claims are actually quite questionable. See Frank Ackerman's "Still Dead After all these Years: Interpreting the failure of General Equilibrium Theory."
Demonstrates The Instability of Current Economic Theory.......2005-06-08
The idea of Walrasian equilibria is in serious trouble, and there isn't a good back filler that fits experimental evidence. If this represents an exciting plot for you, read on. On the other hand, if you want to hide out in late 19th century (supplemented by 1950s) math models for a few more years, avoid this book.
If Bowles is any indication of the enlightened center, the walls of stable microeconomic theory are shaking. The trumpets are blown by experimentalists and and supporting work from serious anthropologists, historians, etc. that suggest people just don't quite do what is expected by classical microeconomics. That is a problem. Elegance that isn't factual just isn't science. Neither does it look like the gods of game theory fully come to the rescue, no matter how elegant Nash equilibria might be.
Still, the most likely candidate theory for stable microeconomics is the evolution literature and the associated game theoretic concepts that have been staples in biology for over 30 years. Ideas adapted from biology may offer dynamics without contextuality. Bowles teaches related constructs neatly in a book that is still less quantitative than a few others I have looked at. There are few partial differentials for their own sake. On the other hand, there is real math here--enough to scare people off who are fightened by such things, but math isn't the point as it can be in other micro theory works. The point is reality, which is also the slippery slope that will make this book hard for the trade to adopt, I'd guess. Remarkably, the book reads like a search for solutions rather than the expression of what can be said with simple math models in a logically consistent manner.
If your prof uses this text for microeconomic theory, you are lucky. It could be a lot worse. On the other hand, if you are an economist (or wannabe), you might want to supplement this with more conventional work if you are going to face departmental exams, syllabus reviews, etc.
This is decidedly the new view of things, though it will probably become dated in a reasonably short period as experimentalists proceed. It is isn't a history book of ahistorical microeconomic theory, which is the safe way to go for conventional texts.
Overall, this is probably as exciting as microeconomic theory can be, and it is the foundations of an honest social science theory--no matter how tentative. It opens more questions than it solvies which is probably the new standard for positive social science texts.
The book might have been improved by some broader treatment of social network theory in the game theory section and by even more extensive treatment of experimental evidence and methods--particularly methods. Few people are actually training social scientists to do experiments these days. That's too bad. It is the future.
If this work is the skeleton of such a future, economists are going to be political psychologists, are going to be behavioral biologists, are going to be population ecologists, etc. It may be a very interesting time to become an economist if this is the sort of book a program is using. Historians and science studies folks will want to monitor these emerging changes. This is a place to peg legitimate change.
Book Description
In 1937, Ronald H. Coase published "The Nature of the Firm," a classic paper that raised fundamental questions about the concept of the firm in economic theory. Coase proposed that the comparative costs of organizing transactions through markets rather than within firms are the primary determinants of the size and scope of firms. Coase won the 1991 Nobel Prize in Economics for this work. This volume derives from a conference held in 1987 to commemorate the fiftieth anniversary of the publication of Coase's classic article. The first chapter affords an overview of the volume. It is followed by a republication of the 1937 article, and by the three lectures Coase presented at the conference. These lectures provide a lively and informative history of the origins and development of his thought. Subsequent chapters explore a wide-range of theoretical and empirical issues that have arisen in the transaction cost economic tradition. They illustrate the power of the transaction cost approach to enhance understanding not only of business firms, but of problems of economic organization generally. In addition to Coase's work, contributors include Sherwin Rosen, Paul Joskow, Oliver Hart, Harold Demsetz, Scott Masten, Benjamin Klein, as well as the volume's editors, Oliver E. Williamson, and Sidney G. Winter. The Nature of the Firm includes Coase's acceptance speech for his Nobel Prize in Economics.
Customer Reviews:
Excellent Starting Point.......2003-08-23
This book serves as an excellent introduction to the transaction cost motivated theories of the firm. The whole field started with the 1937 paper by Coase, which one can find here. Three other papers by Coase give a good background on how he came to write that paper and what its implications and influences are. His Nobel lecture is also included. They all make a nice reading and clear up some misunderstandings about Coase's work. Coase is an excellent writer.
The other papers are very good too. I especially liked the one by Harold Demsetz. It points out that there are some important shortcomings to the transactionialist view and outlines a alternative theory of the firm.
Almost all papers can be read without much knowledge about economics and without math, so anyone with an interest in the topic should take a look.
Readings on the "Firm".......2000-07-03
The papers imprinted there include Coase's "The Nature of the Firm" and his Nobel Lecture as well. The works of O. Williamson, O. Hart, S. Rosen, S. Winter, etc on the nature of the firm are also there.
One thing worth to note is that three of the papers are the lectures given by Coase in the 1987 conference (which is due to the 50th anniversery of the publication of his "The Nature of the Firm") are also included. The sub-title of this book speaks for itself.
But I don't know why Cheung's "The Contractual Nature of the Firm" is omitted.
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Demand System Specification and Estimation
Robert A. Pollak , and
Terence J. Wales
Manufacturer: Oxford University Press, USA
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Economics and Consumer Behavior
ASIN: 0195101219 |
Book Description
This book explores the principal issues involved in bridging the gap between the pure theory of consumer behavior and its empirical implementation. The theoretical starting point is the familiar static, one-period, utility maximizing model in which the consumer allocates a fixed budget among competing categories of goods. The authors focus upon four issues of primary importance in empirical demand analysis: the structure of preferences, the treatment of demographic variables, treatment of dynamics, and the specification of the stochastic structure of the demand system.
Book Description
Not only do the goals of marketing departments often fail to match those of finance, they sometimes outright conflict. The two departments speak different languages, they have no clear link, and - bottom line - the markets for customers and investors are separate. But one innovative book can change everything. CREATING MARKET VALUE illustrates a cause-and-effect model of relationships between marketing and finance based on a common language, economic theory, and financial accounting data. This model links intangible assets to the market value of firms. Breaking with the tradition of valuing companies based on unrelated ratios and metrics, Dr. Victor Cook identifies three metrics that bind marketing and finance: the Value Sales Principle, the Rule of Maximum Earnings, and the Competitive Valuation Paradigm. These groundbreaking principles point to a model that unites important metrics from marketing and sales and adds to the understanding of exactly what drives the value of an organization.
Customer Reviews:
A new perspective for assessing firm performance.......2006-08-22
Competing for Customers and Capital is a must read for those in the finance and marketing areas, and especially for those who are, or aspire to be, upper-level managers. Whether you agree with his approach or not, the concepts Cook presents will encourage you to think about the marketing-finance interface in a new and collaborative way. As the first set of chapters is devoted to developing the theoretical constructs used in the book, I would suggest that you begin with chapter 5, read thought to the end and then come back and read chapter 1. Chapters 2 through 4 are not for the quantitatively challenged. For me the book's most evocative idea is illustrated in Chart 1-5, which suggests a much broader and longer term view of the customer as captured by the enterprise marketing concept. Enjoy!
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Consumer Price Index Manual: Theory And Practice
Manufacturer: International Labour Office
ProductGroup: Book
Binding: Paperback
General
| Popular Economics
| Business & Investing
| Subjects
| Books
Microeconomics
| Economics
| Business & Investing
| Subjects
| Books
Research
| Marketing
| Marketing & Sales
| Business & Investing
| Subjects
| Books
General
| Reference
| Business & Investing
| Subjects
| Books
Consumer Guides
| Reference
| Subjects
| Books
General
| Reference
| Subjects
| Books
ASIN: 922113699X |
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Books Index
Books Home
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Study Guide
Microeconomics and Behavior, 5th Edition, Study Guide
Microeconomic Theory: Basic Principles and Extensions
Reinventing the Bazaar: A Natural History of Markets
Cognitive Psychology and its Implications
