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Behavioral Game Theory: Experiments in Strategic Interaction (The Roundtable Series in Behavioral Economics)
Par Colin F. Camerer. 2003
Game theory, the formalized study of strategy, began in the 1940s by asking how emotionless geniuses should play games, but…
ignored until recently how average people with emotions and limited foresight actually play games. This book marks the first substantial and authoritative effort to close this gap. Colin Camerer, one of the field's leading figures, uses psychological principles and hundreds of experiments to develop mathematical theories of reciprocity, limited strategizing, and learning, which help predict what real people and companies do in strategic situations. Unifying a wealth of information from ongoing studies in strategic behavior, he takes the experimental science of behavioral economics a major step forward. He does so in lucid, friendly prose. Behavioral game theory has three ingredients that come clearly into focus in this book: mathematical theories of how moral obligation and vengeance affect the way people bargain and trust each other; a theory of how limits in the brain constrain the number of steps of "I think he thinks . . ." reasoning people naturally do; and a theory of how people learn from experience to make better strategic decisions. Strategic interactions that can be explained by behavioral game theory include bargaining, games of bluffing as in sports and poker, strikes, how conventions help coordinate a joint activity, price competition and patent races, and building up reputations for trustworthiness or ruthlessness in business or life. While there are many books on standard game theory that address the way ideally rational actors operate, Behavioral Game Theory stands alone in blending experimental evidence and psychology in a mathematical theory of normal strategic behavior. It is must reading for anyone who seeks a more complete understanding of strategic thinking, from professional economists to scholars and students of economics, management studies, psychology, political science, anthropology, and biology.The Bounds of Reason: Game Theory and the Unification of the Behavioral Sciences - Revised Edition
Par Herbert Gintis. 2014
Game theory is central to understanding human behavior and relevant to all of the behavioral sciences—from biology and economics, to…
anthropology and political science. However, as The Bounds of Reason demonstrates, game theory alone cannot fully explain human behavior and should instead complement other key concepts championed by the behavioral disciplines. Herbert Gintis shows that just as game theory without broader social theory is merely technical bravado, so social theory without game theory is a handicapped enterprise. This edition has been thoroughly revised and updated.Reinvigorating game theory, The Bounds of Reason offers innovative thinking for the behavioral sciences.The Leaderless Economy: Why the World Economic System Fell Apart and How to Fix It
Par Peter Temin, David Vines. 2013
A new way to understand financial crises—and a blueprint for tomorrow's recoveryThe Leaderless Economy reveals why international financial cooperation is…
the only solution to today's global economic crisis. In this timely and important book, Peter Temin and David Vines argue that our current predicament is a catastrophe rivaled only by the Great Depression. Taking an in-depth look at the history of both, they explain what went wrong and why, and demonstrate why international leadership is needed to restore prosperity and prevent future crises.Temin and Vines argue that the financial collapse of the 1930s was an "end-of-regime crisis" in which the economic leader of the nineteenth century, Great Britain, found itself unable to stem international panic as countries abandoned the gold standard. They trace how John Maynard Keynes struggled for years to identify the causes of the Great Depression, and draw valuable lessons from his intellectual journey. Today we are in the midst of a similar crisis, one in which the regime that led the world economy in the twentieth century—that of the United States—is ending. Temin and Vines show how America emerged from World War II as an economic and military powerhouse, but how deregulation and a lax attitude toward international monetary flows left the nation incapable of reining in an overleveraged financial sector and powerless to contain the 2008 financial panic. Fixed exchange rates in Europe and Asia have exacerbated the problem.The Leaderless Economy provides a blueprint for how renewed international leadership can bring today's industrial nations back into financial balance--domestically and between each other.A sweeping history of the drama, intrigue, and rivalry behind the creation of the postwar economic orderWhen turmoil strikes world…
monetary and financial markets, leaders invariably call for 'a new Bretton Woods' to prevent catastrophic economic disorder and defuse political conflict. The name of the remote New Hampshire town where representatives of forty-four nations gathered in July 1944, in the midst of the century's second great war, has become shorthand for enlightened globalization. The actual story surrounding the historic Bretton Woods accords, however, is full of startling drama, intrigue, and rivalry, which are vividly brought to life in Benn Steil's epic account.Upending the conventional wisdom that Bretton Woods was the product of an amiable Anglo-American collaboration, Steil shows that it was in reality part of a much more ambitious geopolitical agenda hatched within President Franklin D. Roosevelt's Treasury and aimed at eliminating Britain as an economic and political rival. At the heart of the drama were the antipodal characters of John Maynard Keynes, the renowned and revolutionary British economist, and Harry Dexter White, the dogged, self-made American technocrat. Bringing to bear new and striking archival evidence, Steil offers the most compelling portrait yet of the complex and controversial figure of White—the architect of the dollar's privileged place in the Bretton Woods monetary system, who also, very privately, admired Soviet economic planning and engaged in clandestine communications with Soviet intelligence officials and agents over many years.A remarkably deft work of storytelling that reveals how the blueprint for the postwar economic order was actually drawn, The Battle of Bretton Woods is destined to become a classic of economic and political history.Nietzsche: Philosopher, Psychologist, Antichrist (Princeton Classics #3)
Par Walter A. Kaufmann. 2014
This classic is the benchmark against which all modern books about Nietzsche are measured. When Walter Kaufmann wrote it in…
the immediate aftermath of World War II, most scholars outside Germany viewed Nietzsche as part madman, part proto-Nazi, and almost wholly unphilosophical. Kaufmann rehabilitated Nietzsche nearly single-handedly, presenting his works as one of the great achievements of Western philosophy. Responding to the powerful myths and countermyths that had sprung up around Nietzsche, Kaufmann offered a patient, evenhanded account of his life and works, and of the uses and abuses to which subsequent generations had put his ideas. Without ignoring or downplaying the ugliness of many of Nietzsche's proclamations, he set them in the context of his work as a whole and of the counterexamples yielded by a responsible reading of his books. More positively, he presented Nietzsche's ideas about power as one of the great accomplishments of modern philosophy, arguing that his conception of the "will to power" was not a crude apology for ruthless self-assertion but must be linked to Nietzsche's equally profound ideas about sublimation. He also presented Nietzsche as a pioneer of modern psychology and argued that a key to understanding his overall philosophy is to see it as a reaction against Christianity. Many scholars in the past half century have taken issue with some of Kaufmann's interpretations, but the book ranks as one of the most influential accounts ever written of any major Western thinker. Featuring a new foreword by Alexander Nehamas, this Princeton Classics edition of Nietzsche introduces a new generation of readers to one the most influential accounts ever written of any major Western thinker.Savarkar and the Making of Hindutva
Par Janaki Bakhle. 2024
A monumental intellectual history of the pivotal figure of Hindu nationalismVinayak Damodar Savarkar (1883–1966) was an intellectual, ideologue, and anticolonial…
nationalist leader in India&’s struggle for independence from British colonial rule, one whose anti-Muslim writings exploited India&’s tensions in pursuit of Hindu majority rule. Savarkar and the Making of Hindutva is the first comprehensive intellectual history of one of the most contentious political thinkers of the twentieth century.Janaki Bakhle examines the full range of Savarkar&’s voluminous writings in his native language of Marathi, from political and historical works to poetry, essays, and speeches. She reveals the complexities in the various positions he took as a champion of the beleaguered Hindu community, an anticaste progressive, an erudite if polemical historian, a pioneering advocate for women&’s dignity, and a patriotic poet. This critical examination of Savarkar&’s thought shows that Hindutva is as much about the aesthetic experiences that have been attached to the idea of India itself as it is a militant political program that has targeted the Muslim community in pursuit of power in postcolonial India.By bringing to light the many legends surrounding Savarkar, Bakhle shows how this figure from a provincial locality in colonial India rose to world-historical importance. Savarkar and the Making of Hindutva also uncovers the vast hagiographic literature that has kept alive the myth of Savarkar as a uniquely brave, brilliant, and learned revolutionary leader of the Hindu nation.Microeconomic Foundations I: Choice and Competitive Markets
Par David M. Kreps. 2013
A guide to mastering microeconomic theoryMicroeconomic Foundations I develops the choice, price, and general equilibrium theory topics typically found in…
first-year theory sequences, but in deeper and more complete mathematical form than most standard texts provide. The objective is to take the reader from acquaintance with these foundational topics to something closer to mastery of the models and results connected to them.Provides a rigorous treatment of some of the basic tools of economic modeling and reasoning, along with an assessment of the strengths and weaknesses of these toolsComplements standard textsCovers choice, preference, and utility; structural properties of preferences and utility functions; basics of consumer demand; revealed preference and Afriat's Theorem; choice under uncertainty; dynamic choice; social choice and efficiency; competitive and profit-maximizing firms; expenditure minimization; demand theory (duality methods); producer and consumer surplus; aggregation; general equilibrium; efficiency and the core; GET, time, and uncertainty; and other topicsFeatures a free web-based student's guide, which gives solutions to approximately half the problems, and a limited-access instructor's manual, which provides solutions to the rest of the problemsContains appendixes that review most of the specific mathematics employed in the book, including a from-first-principles treatment of dynamic programmingIn this landmark book, Scott Page redefines the way we understand ourselves in relation to one another. The Difference is…
about how we think in groups--and how our collective wisdom exceeds the sum of its parts. Why can teams of people find better solutions than brilliant individuals working alone? And why are the best group decisions and predictions those that draw upon the very qualities that make each of us unique? The answers lie in diversity--not what we look like outside, but what we look like within, our distinct tools and abilities. The Difference reveals that progress and innovation may depend less on lone thinkers with enormous IQs than on diverse people working together and capitalizing on their individuality. Page shows how groups that display a range of perspectives outperform groups of like-minded experts. Diversity yields superior outcomes, and Page proves it using his own cutting-edge research. Moving beyond the politics that cloud standard debates about diversity, he explains why difference beats out homogeneity, whether you're talking about citizens in a democracy or scientists in the laboratory. He examines practical ways to apply diversity's logic to a host of problems, and along the way offers fascinating and surprising examples, from the redesign of the Chicago "El" to the truth about where we store our ketchup. Page changes the way we understand diversity--how to harness its untapped potential, how to understand and avoid its traps, and how we can leverage our differences for the benefit of all.Creative Destruction: How Globalization Is Changing the World's Cultures
Par Tyler Cowen. 2002
A Frenchman rents a Hollywood movie. A Thai schoolgirl mimics Madonna. Saddam Hussein chooses Frank Sinatra's "My Way" as the…
theme song for his fifty-fourth birthday. It is a commonplace that globalization is subverting local culture. But is it helping as much as it hurts? In this strikingly original treatment of a fiercely debated issue, Tyler Cowen makes a bold new case for a more sympathetic understanding of cross-cultural trade. Creative Destruction brings not stale suppositions but an economist's eye to bear on an age-old question: Are market exchange and aesthetic quality friends or foes? On the whole, argues Cowen in clear and vigorous prose, they are friends. Cultural "destruction" breeds not artistic demise but diversity. Through an array of colorful examples from the areas where globalization's critics have been most vocal, Cowen asks what happens when cultures collide through trade, whether technology destroys native arts, why (and whether) Hollywood movies rule the world, whether "globalized" culture is dumbing down societies everywhere, and if national cultures matter at all. Scrutinizing such manifestations of "indigenous" culture as the steel band ensembles of Trinidad, Indian handweaving, and music from Zaire, Cowen finds that they are more vibrant than ever--thanks largely to cross-cultural trade. For all the pressures that market forces exert on individual cultures, diversity typically increases within society, even when cultures become more like each other. Trade enhances the range of individual choice, yielding forms of expression within cultures that flower as never before. While some see cultural decline as a half-empty glass, Cowen sees it as a glass half-full with the stirrings of cultural brilliance. Not all readers will agree, but all will want a say in the debate this exceptional book will stir.The Evolution of a Nation: How Geography and Law Shaped the American States (The Princeton Economic History of the Western World #37)
Par Daniel Berkowitz, Karen B. Clay. 2012
Although political and legal institutions are essential to any nation's economic development, the forces that have shaped these institutions are…
poorly understood. Drawing on rich evidence about the development of the American states from the mid-nineteenth to the late twentieth century, this book documents the mechanisms through which geographical and historical conditions--such as climate, access to water transportation, and early legal systems--impacted political and judicial institutions and economic growth. The book shows how a state's geography and climate influenced whether elites based their wealth in agriculture or trade. States with more occupationally diverse elites in 1860 had greater levels of political competition in their legislature from 1866 to 2000. The book also examines the effects of early legal systems. Because of their colonial history, thirteen states had an operational civil-law legal system prior to statehood. All of these states except Louisiana would later adopt common law. By the late eighteenth century, the two legal systems differed in their balances of power. In civil-law systems, judiciaries were subordinate to legislatures, whereas in common-law systems, the two were more equal. Former civil-law states and common-law states exhibit persistent differences in the structure of their courts, the retention of judges, and judicial budgets. Moreover, changes in court structures, retention procedures, and budgets occur under very different conditions in civil-law and common-law states. The Evolution of a Nation illustrates how initial geographical and historical conditions can determine the evolution of political and legal institutions and long-run growth.An authoritative look at the microeconomics of entrepreneurshipEntrepreneurs are widely recognized for the vital contributions they make to economic growth…
and general welfare, yet until fairly recently entrepreneurship was not considered worthy of serious economic study. Today, progress has been made to integrate entrepreneurship into macroeconomics, but until now the entrepreneur has been almost completely excluded from microeconomics and standard theoretical models of the firm. The Microtheory of Innovative Entrepreneurship provides the framework for introducing entrepreneurship into mainstream microtheory and incorporating the activities of entrepreneurs, inventors, and managers into standard models of the firm.William Baumol distinguishes between the innovative entrepreneur, who comes up with new ideas and puts them into practice, and the replicative entrepreneur, which can be anyone who launches a new business venture, regardless of whether similar ventures already exist. Baumol puts forward a quasi-formal theoretical analysis of the innovative entrepreneur's influential role in economic life. In doing so, he opens the way to bringing innovative entrepreneurship into the accepted body of mainstream microeconomics, and offers valuable insights that can be used to design more effective policies. The Microtheory of Innovative Entrepreneurship lays the foundation for a new kind of microtheory that reflects the innovative entrepreneur's importance to economic growth and prosperity.Labor Markets and Business Cycles (CREI Lectures in Macroeconomics)
Par Robert Shimer. 2010
Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market…
outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.Ethics and Economics: An Introduction to Free Markets, Equality and Happiness
Par Johan Graafland. 2022
This textbook applies economic ethics to evaluate the free market system and enables students to examine the impact of free…
markets using the three main ethical approaches: utilitarianism, principle-based ethics and virtue ethics.Ethics and Economics systematically links empirical research to these ethical questions, with a focus on the core topics of happiness, inequality and virtues. Each chapter offers a recommended further reading list. The final chapter provides a practical method for applying the different ethical approaches to morally evaluate an economic policy proposal and an example of the methodology being applied to a real-life policy.This book will give students a clear theoretical and methodological toolkit for analyzing the ethics of market policies, making it a valuable resource for courses on economic ethics and economic philosophy.The Open Access version of this book, available at http://www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non-Commercial (CC-BY-NC) 4.0 license.Rosa Parks: Civil Rights Leader (Black Americans of Achievement Legacy Edition)
Par Mary Hull, Gloria Blakely, Dale Evva Gelfand. 2008
On December 1, 1955, seamstress Rosa Parks took a stand by refusing to give up her seat on a bus…
to a white man. Her defiance against an unjust system triggered the Montgomery Bus Boycott and helped spark the civil rights movement in the 1960s. Parks demonstrated the effectiveness of unified peaceful protests, and throughout her life she advocated an end to violence, discrimination, and injustice, eventually establishing the Rosa and Raymond Parks Institute for Self-Development. Rosa Parks, Updated Edition, includes fresh insights on the life and legacy of the woman known as the "mother of the civil rights movement."Dinner on Monster Island: Essays
Par Tania De Rozario. 2024
In this unusual, engaging, and intimate collection of personal essays, Lambda Literary Award finalist Tania De Rozario recalls growing up…
as a queer, brown, fat girl in Singapore, blending memoir with elements of history, pop culture, horror films, and current events to explore the nature of monsters and what it means to be different.Tania De Rozario was just twelve years old when she was gay-exorcised. Convinced that her boyish style and demeanor were a sign of something wicked, her mother and a pair of her church friends tried to “banish the evil” from Tania. That day, the young girl realized that monsters weren’t just found in horror tales. They could lurk anywhere—including your own family and community—and look just like you. Dinner on Monster Island is Tania’s memoir of her life and childhood in Singapore—where she discovered how difference is often perceived as deviant, damaged, disobedient, and sometimes, demonic. As she pulls back the veil on life on the small island, she reveals the sometimes kind, sometimes monstrous side of all of us. Intertwined with her experiences is an analysis of the role of women in horror. Tania looks at films and popular culture such as Carrie, The Witch, and The Ring to illuminate the ways in which women are often portrayed as monsters, and how in real life, monsters are not what we think. Moving and lyrical, written with earnest candor, and leavened with moments of humor and optimism, Dinner on Monster Island is a deeply personal examination of one woman’s experience grappling with her identity and a fantastic analysis of monsters, monstrous women and the worlds in which they live.Everything I Learned, I Learned in a Chinese Restaurant: A Memoir
Par Curtis Chin. 2023
An American Library Association Stonewall Honor BookMost Anticipated This Fall in TIME, San Francisco Chronicle, The Washington Post, Goodreads, Lamba…
Literary Review, Kirkus Reviews, and PinkNewsThis &“vivid, moving, funny, and heartfelt&” memoir tells the story of Curtis Chin&’s time growing up as a gay Chinese American kid in 1980&’s Detroit (Lisa Ko, author of The Leavers). Nineteen eighties Detroit was a volatile place to live, but above the fray stood a safe haven: Chung&’s Cantonese Cuisine, where anyone—from the city&’s first Black mayor to the local drag queens, from a big-time Hollywood star to elderly Jewish couples—could sit down for a warm, home-cooked meal. Here was where, beneath a bright-red awning and surrounded by his multigenerational family, filmmaker and activist Curtis Chin came of age; where he learned to embrace his identity as a gay ABC, or American-born Chinese; where he navigated the divided city&’s spiraling misfortunes; and where—between helpings of almond boneless chicken, sweet-and-sour pork, and some of his own, less-savory culinary concoctions—he realized just how much he had to offer to the world, to his beloved family, and to himself. Served up by the cofounder of the Asian American Writers&’ Workshop and structured around the very menu that graced the tables of Chung&’s, Everything I Learned, I Learned in a Chinese Restaurant is both a memoir and an invitation: to step inside one boy&’s childhood oasis, scoot into a vinyl booth, and grow up with him—and perhaps even share something off the secret menu.Empirical Research on Environmental Policies in China: China Towards Decarbonization and Recycle Economy
Par Kiyoshi Fujikawa. 2023
This book presents an empirical study of the effects of environmental policies on China and its neighboring countries, with a…
focus on waste and climate policies in China. The two major carbon policies have to do with carbon markets and renewable energy. The authors first examine the effectiveness of the Asian carbon market. Because of the consumption of goods beyond provincial borders, nationwide carbon markets are rather difficult to operate; therefore, a desirable initial allocation in the carbon market is proposed in this book. As for renewable power, its sources have not been fully utilized owing to a regional mismatch of supply and demand, so optimal locations of renewable energy are shown. The book also contains an analysis of the environmental and economic impacts of changes in resource circulation in East Asia. Although motorization is advancing rapidly, the vein industry for recycling used cars has not progressed. The authors estimate the amount of materials from used cars including new energy vehicles (electric and fuel cell vehicles) and propose desirable policies for used vehicles. East Asia is interdependent with respect to carbon and waste as well as the economy. China has regulated the import of waste recently and has started recycling its own wastes, putting pressure on neigboring countries to recycle their waste domestically. The authors estimate the environmental and economic impacts of such policy changes.Black Man on the Titanic: The Story of Joseph Laroche
Par Serge Bile. 2019
The true story of one of the black passengers on the Titanic, for history readers and fans of Hidden Figures and…
The Immortal Life of Henrietta Lacks. Joseph Laroche was an anomaly among the passengers of the Titanic. He was exceptionally well-educated in a time when few black men had access to an education―and when even fewer were able to travel on a luxurious ship in first or second class. So, who was Joseph Laroche? And where was he going? This biography recounts the life of Joseph Laroche, his part in the history of Haiti, and how he, as a 24-year-old father of two (soon to be three) children, ended up on the last ship of that era of glamourous travel. He was a direct descendant of the father of Haitian independence and related to two Haitian presidents. As an engineer, Laroche contributed to the construction of the Parisian railway and had a promising future ahead of him. Ivorian-French writer Serge Bilé offers a fresh perspective on the tragedy that still fascinates millions and has inspired dozens of books and films. With thorough research in Haiti and France, Bilé unearths the story of the intriguing figure of Joseph Laroche. This is an account of multi-cultural black history and of the political and natural forces that converged on one man.Praise for Black Man on the Titanic &“A revelation.&”—Mitchell Kaplan, founder of Books & Books&“An absorbing and rewarding read.&”—Leonard Carpenter, author of Lusitania Lost and Conan the SavageUnique Hustle: My Drive to be the Best Car Customizer in Hip Hop and Sports
Par Will Castro, Mark Finkelpearl. 2019
&“This book is a must-read for anybody interested in bangin&’ custom cars, Hip Hop culture, and sports lifestyle.&” —LeBron James…
Will Castro, star of Velocity Channel&’s Unique Rides and one of the most popular car customizers in the country, has achieved the American Dream, finding great success doing something he loves. He has worked with many marquee names, and Unique Hustle is packed with anecdotes of some of the biggest names in sports, music, film and television; including P. Diddy, LeBron James, Nicki Minaj, Carmelo Anthony, Jason Derulo, Ice-T, and DJ Khaled, just to name a few. Discover Will&’s inspiring journey to success from growing up poor in the housing projects of New York&’s Lower East Side to customizing the rides of the rich and famous. Unique Hustle tells his personal stories of trial and triumph. With only a high school education, audacity, and passion, he ground out a place for himself in the world and hustled his way to the top. Alongside Will&’s story, Unique Hustle also provides a &“how to&” from a professional to readers who love to learn about cars and customization techniques. Readers will learn: Which cars are best suited for specific customizationsThe dos and don&’ts of car exteriors including paint jobs, rims, and wrapsThe dos and don&’ts of car interiorsHow to add &“unique&” flair with stereo and video systems, cigar boxes, and moreThe Political Economy of Lobbying: Channels of Influence and their Regulation (Studies in Public Choice #43)
Par Karsten Mause, Andreas Polk. 2023
Lobbying is not only the subject of ongoing, heated debates in politics and the public sphere but has also been…
a focus of the social sciences for decades. This edited volume provides an overview of the current state of research on lobbying from the perspective of Public Choice as a subfield of political science and economics. After a brief introduction to the field, Part I provides an overview of basic concepts and political-economic theories of lobbying from the standpoints of various subfields of Public Choice. Subsequently, Part II investigates the various channels used by interest groups to influence policymakers, such as party donations, informational lobbying, hiring politicians, etc. These chapters also discuss the possibilities and limits of regulating the respective channels. Lastly, Part III sheds light on lobbying in selected regions (i.e., the United States, European Union, Russia, and China).