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Author: Paul Milgrom Publisher: Columbia University Press ISBN: 023154457X Category : Business & Economics Languages : en Pages : 222
Book Description
Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith’s famous concept of an invisible hand, which guides markets and renders regulation or interference largely unnecessary. Yet for many markets, prices alone are not enough to guide feasible and efficient outcomes, and regulation alone is not enough, either. Consider air traffic control at major airports. While prices could encourage airlines to take off and land at less congested times, prices alone do just part of the job; an air traffic control system is still indispensable to avoid disastrous consequences. With just an air traffic controller, however, limited resources can be wasted or poorly used. What’s needed in this and many other real-world cases is an auction system that can effectively reveal prices while still maintaining enough direct control to ensure that complex constraints are satisfied. In Discovering Prices, Paul Milgrom—the world’s most frequently cited academic expert on auction design—describes how auctions can be used to discover prices and guide efficient resource allocations, even when resources are diverse, constraints are critical, and market-clearing prices may not even exist. Economists have long understood that externalities and market power both necessitate market organization. In this book, Milgrom introduces complex constraints as another reason for market design. Both lively and technical, Milgrom roots his new theories in real-world examples (including the ambitious U.S. incentive auction of radio frequencies, whose design he led) and provides economists with crucial new tools for dealing with the world’s growing complex resource-allocation problems.
Author: Paul Milgrom Publisher: Columbia University Press ISBN: 023154457X Category : Business & Economics Languages : en Pages : 222
Book Description
Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith’s famous concept of an invisible hand, which guides markets and renders regulation or interference largely unnecessary. Yet for many markets, prices alone are not enough to guide feasible and efficient outcomes, and regulation alone is not enough, either. Consider air traffic control at major airports. While prices could encourage airlines to take off and land at less congested times, prices alone do just part of the job; an air traffic control system is still indispensable to avoid disastrous consequences. With just an air traffic controller, however, limited resources can be wasted or poorly used. What’s needed in this and many other real-world cases is an auction system that can effectively reveal prices while still maintaining enough direct control to ensure that complex constraints are satisfied. In Discovering Prices, Paul Milgrom—the world’s most frequently cited academic expert on auction design—describes how auctions can be used to discover prices and guide efficient resource allocations, even when resources are diverse, constraints are critical, and market-clearing prices may not even exist. Economists have long understood that externalities and market power both necessitate market organization. In this book, Milgrom introduces complex constraints as another reason for market design. Both lively and technical, Milgrom roots his new theories in real-world examples (including the ambitious U.S. incentive auction of radio frequencies, whose design he led) and provides economists with crucial new tools for dealing with the world’s growing complex resource-allocation problems.
Author: P. A. Lawrence Publisher: Wiley-Blackwell ISBN: 9780632030484 Category : Science Languages : en Pages : 240
Book Description
Understanding how a multicellular animal develops from a single cell (the fertilized egg) poses one of the greatest challenges in biology today. Development from egg to adult involves the sequential expression of virtually the whole of an organism's genetic instructions both in the mother as she lays down developmental cues in the egg, and in the embryo itself. Most of our present information on the role of genes in development comes from the invertebrate fruit fly, Drosophila. The two authors of this text (amongst the foremost authorities in the world) follow the developmental process from fertilization through the primitive structural development of the body plan of the fly after cleavage into the differentiation of the variety of tissues, organs and body parts that together define the fly. The developmental processes are fully explained throughout the text in the modern language of molecular biology and genetics. This text represents the vital synthesis of the subject that many have been waiting for and it will enable many specific courses in developmental biology and molecular genetics to focus on it. It will appeali to 2nd and 3rd year students in these disciplines as well as in biochemistry, neurobiology and zoology. It will also have widespread appeal among researchers. Authored by one of the foremost authorities in the world. A unique synthesis of the developmental cycle of Drosophila - our major source of information on the role of genes in development. Designed to provide the basis of new courses in developmental biology and molecular genetics at senior undergraduate level. A lucid explanation in the modern language of the science.
Author: Michael Woodford Publisher: Princeton University Press ISBN: 1400830168 Category : Business & Economics Languages : en Pages : 805
Book Description
With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.
Author: Max Florschutz Publisher: Independently Published ISBN: Category : Languages : en Pages : 316
Book Description
From the mind behind Shadow of an Empire and Colony comes a new YA Fantasy adventure full of friendship, discovery, and finance! Meet Axtara, a young dragon just leaving the nest in pursuit of her lifelong dream: To own and operate her own bank. Her destination? The edge of known civilization: Elnacier. The coastal kingdom is small, but brimming with natural resources and poised for an economic boom if the right conditions can be met. If. Change is never easy, and Axtara is going to have her claws full founding Elnacier's first bank as she runs up against skeptical townsfolk, stubborn ministers, suspicious business owners, and tradition itself. Especially as she's also about to be Elnacier's first dragon ...
Author: Marty Makary Publisher: Bloomsbury Publishing USA ISBN: 1635574129 Category : Health & Fitness Languages : en Pages : 305
Book Description
New York Times bestseller Business Book of the Year--Association of Business Journalists From the New York Times bestselling author comes an eye-opening, urgent look at America's broken health care system--and the people who are saving it--now with a new Afterword by the author. "A must-read for every American." --Steve Forbes, editor-in-chief, FORBES One in five Americans now has medical debt in collections and rising health care costs today threaten every small business in America. Dr. Makary, one of the nation's leading health care experts, travels across America and details why health care has become a bubble. Drawing from on-the-ground stories, his research, and his own experience, The Price We Pay paints a vivid picture of the business of medicine and its elusive money games in need of a serious shake-up. Dr. Makary shows how so much of health care spending goes to things that have nothing to do with health and what you can do about it. Dr. Makary challenges the medical establishment to remember medicine's noble heritage of caring for people when they are vulnerable. The Price We Pay offers a road map for everyday Americans and business leaders to get a better deal on their health care, and profiles the disruptors who are innovating medical care. The movement to restore medicine to its mission, Makary argues, is alive and well--a mission that can rebuild the public trust and save our country from the crushing cost of health care.
Author: Richard B. Primack Publisher: Sinauer ISBN: 9781605352893 Category : Nature Languages : en Pages : 0
Book Description
Essentials of Conservation Biology has established itself as an engrossing book from which to learn or teach. Combining theory and research and with examples from current literature, the book explain the links between conservation biology and other fields such as ecology, climate change, environmental economics, sustainable development and more.
Author: Beth Revis Publisher: Penguin ISBN: 1595147187 Category : Young Adult Fiction Languages : en Pages : 386
Book Description
A young alchemist turns to dark magic when a deadly plague sweeps through her homeland, in this epic fantasy from New York Times bestselling author Beth Revis. Seventeen-year-old Nedra Brysstain leaves her home in the rural northern territories of Lunar Island to attend the prestigious Yugen Academy with only one goal in mind: master the trade of medicinal alchemy. A scholarship student matriculating with the children of Lunar Island's wealthiest and most powerful families, Nedra doesn't quite fit in with the other kids at Yugen. Until she meets Greggori "Grey" Astor. Grey is immediately taken by the brilliant and stubborn Nedra, who he notices is especially invested in her studies. And that's for a good reason: a deadly plague has been sweeping through the north, and it's making its way toward the cities. With her family's lives--and the lives of all of Lunar Island's citizens--on the line, Nedra is determined to find a cure for the plague. Grey and Nedra grow close, but as the sickness spreads and the body count rises, Nedra becomes desperate to find a cure. Soon, she finds herself diving into alchemy's most dangerous corners--and when she turns to the most forbidden practice of all, necromancy, even Grey might not be able to pull her from the darkness.
Author: Sabaa Tahir Publisher: Penguin ISBN: 0448494558 Category : Young Adult Fiction Languages : en Pages : 504
Book Description
Prepare for the jaw-dropping finale of Sabaa Tahir's beloved New York Times bestselling An Ember in the Ashes fantasy series, and discover: Who will survive the storm? Picking up just a few months after A Reaper at the Gates left off... The long-imprisoned jinn are on the attack, wreaking bloody havoc in villages and cities alike. But for the Nightbringer, vengeance on his human foes is just the beginning. By his side, Commandant Keris Veturia declares herself Empress, and calls for the heads of any and all who defy her rule. At the top of the list? The Blood Shrike and her remaining family. Laia of Serra, now allied with the Blood Shrike, struggles to recover from the loss of the two people most important to her. Determined to stop the approaching apocalypse, she throws herself into the destruction of the Nightbringer. In the process, she awakens an ancient power that could lead her to victory—or to an unimaginable doom. And deep in the Waiting Place, the Soul Catcher seeks only to forget the life—and love—he left behind. Yet doing so means ignoring the trail of murder left by the Nightbringer and his jinn. To uphold his oath and protect the human world from the supernatural, the Soul Catcher must look beyond the borders of his own land. He must take on a mission that could save—or destroy—all that he knows.
Author: Leah Price Publisher: Basic Books ISBN: 1541673905 Category : Language Arts & Disciplines Languages : en Pages : 165
Book Description
Reports of the death of reading are greatly exaggerated Do you worry that you've lost patience for anything longer than a tweet? If so, you're not alone. Digital-age pundits warn that as our appetite for books dwindles, so too do the virtues in which printed, bound objects once trained us: the willpower to focus on a sustained argument, the curiosity to look beyond the day's news, the willingness to be alone. The shelves of the world's great libraries, though, tell a more complicated story. Examining the wear and tear on the books that they contain, English professor Leah Price finds scant evidence that a golden age of reading ever existed. From the dawn of mass literacy to the invention of the paperback, most readers already skimmed and multitasked. Print-era doctors even forbade the very same silent absorption now recommended as a cure for electronic addictions. The evidence that books are dying proves even scarcer. In encounters with librarians, booksellers and activists who are reinventing old ways of reading, Price offers fresh hope to bibliophiles and literature lovers alike. Winner of the Phi Beta Kappa Christian Gauss Award, 2020
Author: Paul Milgrom
Author: Paul Milgrom
Author: P. A. Lawrence
Author: Michael Woodford
Author: Max Florschutz
Author: Marty Makary
Author: Richard B. Primack
Author: Beth Revis
Author: Sabaa Tahir
Author: Leah Price
Author: Gary Kirsner