This book offers a distinctive analysis of the relations and interplay between the internal activities of firms, their changing boundaries, and increasing reliance on networks and alliances with other firms. The contributors offer a blend of theoretical and empirical studies; they are based on a set of related perspectives in modern economics, including transaction cost economics, competence and resource-based theories of the firm, evolutionary economics and the theories of foreign direct investments and the multinational enterprise. The unifying concern shared by the different studies is the need to model firm behaviour and inter firm cooperative activities in terms of knowledge growth and competence building rather than merely in terms of cost-reduction; they emphasize learning processes and dynamic efficiency rather than efficient allocation of given resources.
There are few industries in modern market economies that do not manufacture differentiated products. This book provides a systematic explanation and analysis of the widespread prevalence of this important category of products. The authors concentrate on models in which product selection is endogenous. In the first four chapters they consider models that try to predict the level of product differentiation that would emerge in situations of market equilibrium. These market equilibria with differentiated products are characterised and then compared with social welfare optima. Particular attention is paid to the distinction between horizontal and vertical differentiation as well as to the related issues of product quality and durability. This book brings together the most important theoretical contributions to these topics in a succinct and coherent manner. One of its major strengths is the way in which it carefully sets out the basic intuition behind the formal results. It will be useful to advanced undergraduate and graduate students taking courses in industrial economics and microeconomic theory.
Big business by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust and Monopoly
Industry Structure and Pricing: The New Rivalry in Infrastructure extends current economic models by incorporating effects of actual and potential rivalry in markets outside the markets of immediate interest. Focusing on the contestable model, the author shows how diverse patterns of actual and potential rivalry, called multilateral rivalry or MLR, affect the appropriateness of many regulatory policies. It is specifically shown that many conclusions of the contestability literature are overly generous to firms that might want to protect or extend their monopoly positions. While this book's refinement to existing economic theory gives strong results, it is still based on static production functions and demands - integrated to provide a dynamic view of multilateral rivalry.
A wide-ranging examination of the governmental and institutional policies and practices, and essential theories and areas of research that in combination establish the foundation, explore and extend the boundaries, and expand the base of knowledge in the
Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Americans are debating the proper role of the government in company bailouts, the effectiveness of tax cuts versus increased government spending to stimulate the economy, and potential effects of deflation. Economists have dealt with such questions for generations, but they have taken on new meaning and significance. Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is intended to meet the needs of several types of readers. Undergraduate students preparing for exams will find summaries of theory and models in key areas of micro and macroeconomics. Readers interested in learning about economic analysis of an issue as well students embarking on research projects will find introductions to relevant theory and empirical evidence. And economists seeking to learn about extensions of analysis into new areas or about new approaches will benefit from chapters that introduce cutting-edge topics. To make the book accessible to undergraduate students, models have been presented only in graphical format (minimal calculus) and empirical evidence has been summarized in ways that do not require much background in statistics or econometrics. It is thereby hoped that chapters will provide both crucial information and inspiration in a non-threatening, highly readable format.
Author: European Conference of Ministers of Transport
Publisher: OECD Publishing
This glossary of terms and definitions, which was produced by an ad hoc Task Force on Social Costs, provides a basis for agreement among governments on what classes of social effects require internalisation and where intervention is appropriate.
Ecological economics is a new transdisciplinary approach to understanding and managing the ecology and economics of our world for sustainability on local, regional, and global scales. The previous isolation of these two fields has led to economic and environmental policies that have been mutually destructive rather than reinforcing in the long term. This book brings together these two disciplines in chapters covering the basic worldview of ecological economics; accounting, modeling, and analysis of ecological economicl systems; and necessary institutional changes and case studies.
GENERAL READERSHIP Edited by Dr. Alveda King and Dr. La Verne Tolbert, Life At All Costs: An Anthology of Voices from 21st Century Black Prolife Leaders (Xlibris) includes chapters on abortion's impact in the black community, personhood, the genocidal roots of Planned Parenthood, personal stories from post-abortive women, family values, parenting and adoption, the new healthcare mandate, comprehensive sex education vs. abstinence, STDs, and more! This impressive volume concludes with a message for young Christians. PARENTS, TEACHERS, MINISTERS, YOUTH LEADERS Here's a new resource just for you! Life At All Costs: An Anthology of Voices from 21st Century Black Prolife Leaders (Xlibris) answers the tough questions kids ask about abortion, contraception, sexual activity, homosexuality, and more! Learn how to defend traditional values from a biblical perspective by reading this collection of essays and articles written by prolife leaders across the United States. Dr. Alveda King, niece of Dr. Martin Luther King, Jr., and Dr. La Verne Tolbert edited this volume. SEMINARIES, UNIVERSITIES Life At All Costs: An Anthology of Voices from 21st Century Black Prolife Leaders is an excellent new resource for churches, seminaries, and universities. Ethical, social, and moral issues are evaluated from a biblical perspective. Finally, here's a chance to "hear" the voices of leaders in the black prolife communityvoices that are often muted by the media. Life At All Costs is edited by Dr. Alveda King and Dr. La Verne Tolbert.
This book presents a comprehensive method for justifying norms of morality and proposes a system by which people's conflicting moral intuitions can be adjudicated. It is based on giving each individual's interests equal consideration and as developed is applicable to norms of all social values.
Corporate finance is the area of finance that studies the determinants of firms' values, including capital structure, financing, and investment decisions. Although there are several excellent texts in corporate finance, this is the first to focus on the theoretical foundations of the subject in a consistent and integrated way at the Ph.D. level. In addition to a textbook for advanced graduate students, it can also serve as a general reference to researchers and sophisticated practitioners. The material presented is carefully selected with an eye to what is essential to understanding the underlying theory, ensuring that this text will remain useful for years to come. The book is divided into three parts. The first section presents the basic principles of valuation based on the absence of arbitrage, including a discussion of the determinants of the optimal capital structure based on the seminal results of Modigliani and Miller. The second section discusses the implications of agency problems and information asymmetries to capital structure, giving particular attention to payout policy and to debt contract design. The concluding portion presents different ways of restructuring capital, including going public, going private using stock repurchases or leveraged buyouts, and mergers and acquisitions. Each chapter includes exercises that vary in difficulty, with suggested solutions provided in an appendix. This book will assuredly be the standard doctoral- and professional-level explication of corporate finance theory and its appropriate applications.