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Author: Panta Murali Prasad Publisher: Vernon Press ISBN: 1622734521 Category : Business & Economics Languages : en Pages : 233
Book Description
It is well known that sustainable development practices, technological innovation and good governance play a major role in the accumulation of wealth in a knowledge economy. Hence, the state promotes competition, provides incentives to conserve resources and creates opportunities for citizens to push for innovation and invention. As a result, the formulation of efficient legal rules is essential for protecting intellectual property rights, fully specified contracts and effective ex-ante and ex-post systems. However, can efficient legal rules improve societal well-being by changing the behaviour of individuals and basic social structures and trends? And if so, how can these legal rules be formulated? In their Second International Conference on Law and Economics, the Indian Institute of Technology Kanpur aimed to address the formulation and implementation of efficient legal rules while at the same time working towards a greater dissemination of law and economics-based research. This book is the final outcome of this conference that saw over thirty presentations take place. The twelve carefully selected contributions to this volume cover a broad range of topics within law and economics from engaging with decisions makers to create a process for the routine collection of empirical evidence to perceived gender discrimination and stress among working professionals. This book is not only an important contribution to law and economics scholarship but will also be of great interest to both universities and research institutions working within the field.
Author: Panta Murali Prasad Publisher: Vernon Press ISBN: 1622734521 Category : Business & Economics Languages : en Pages : 233
Book Description
It is well known that sustainable development practices, technological innovation and good governance play a major role in the accumulation of wealth in a knowledge economy. Hence, the state promotes competition, provides incentives to conserve resources and creates opportunities for citizens to push for innovation and invention. As a result, the formulation of efficient legal rules is essential for protecting intellectual property rights, fully specified contracts and effective ex-ante and ex-post systems. However, can efficient legal rules improve societal well-being by changing the behaviour of individuals and basic social structures and trends? And if so, how can these legal rules be formulated? In their Second International Conference on Law and Economics, the Indian Institute of Technology Kanpur aimed to address the formulation and implementation of efficient legal rules while at the same time working towards a greater dissemination of law and economics-based research. This book is the final outcome of this conference that saw over thirty presentations take place. The twelve carefully selected contributions to this volume cover a broad range of topics within law and economics from engaging with decisions makers to create a process for the routine collection of empirical evidence to perceived gender discrimination and stress among working professionals. This book is not only an important contribution to law and economics scholarship but will also be of great interest to both universities and research institutions working within the field.
Author: Panta Murali Prasad Publisher: Vernon Press ISBN: 1622735633 Category : Political Science Languages : en Pages : 232
Book Description
It is well known that sustainable development practices, technological innovation and good governance play a major role in the accumulation of wealth in a knowledge economy. Hence, the state promotes competition, provides incentives to conserve resources and creates opportunities for citizens to push for innovation and invention. As a result, the formulation of efficient legal rules is essential for protecting intellectual property rights, fully specified contracts and effective ex-ante and ex-post systems. However, can efficient legal rules improve societal well-being by changing the behaviour of individuals and basic social structures and trends? And if so, how can these legal rules be formulated? In their Second International Conference on Law and Economics, the Indian Institute of Technology Kanpur aimed to address the formulation and implementation of efficient legal rules while at the same time working towards a greater dissemination of law and economics-based research. This book is the final outcome of this conference that saw over thirty presentations take place. The twelve carefully selected contributions to this volume cover a broad range of topics within law and economics from engaging with decisions makers to create a process for the routine collection of empirical evidence to perceived gender discrimination and stress among working professionals. This book is not only an important contribution to law and economics scholarship but will also be of great interest to both universities and research institutions working within the field.
Author: Merritt B. Fox Publisher: Columbia University Press ISBN: 023154393X Category : Business & Economics Languages : en Pages : 612
Book Description
The U.S. stock market has been transformed over the last twenty-five years. Once a market in which human beings traded at human speeds, it is now an electronic market pervaded by algorithmic trading, conducted at speeds nearing that of light. High-frequency traders participate in a large portion of all transactions, and a significant minority of all trade occurs on alternative trading systems known as “dark pools.” These developments have been widely criticized, but there is no consensus on the best regulatory response to these dramatic changes. The New Stock Market offers a comprehensive new look at how these markets work, how they fail, and how they should be regulated. Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg describe stock markets’ institutions and regulatory architecture. They draw on the informational paradigm of microstructure economics to highlight the crucial role of information asymmetries and adverse selection in explaining market behavior, while examining a wide variety of developments in market practices and participants. The result is a compelling account of the stock market’s regulatory framework, fundamental institutions, and economic dynamics, combined with an assessment of its various controversies. The New Stock Market covers a wide range of issues including the practices of high-frequency traders, insider trading, manipulation, short selling, broker-dealer practices, and trading venue fees and rebates. The book illuminates both the existing regulatory structure of our equity trading markets and how we can improve it.
Author: James E. Rauch Publisher: Russell Sage Foundation ISBN: 1610444671 Category : Social Science Languages : en Pages : 357
Book Description
Networks and Markets argues that economists' knowledge of markets and sociologists' rich understanding of networks can and should be combined. Together they can help us achieve a more coherent view of economic life, where transactions follow both the logic of economic incentives and the established channels of personal relationships. Market exchange is impersonal, episodic, and carried out at arm's length. All that matters is how much the seller is asking, and how much the buyer is offering. An economic network, by contrast, is based upon more personalized and enduring relationships between people tied together by more than just price. Networks and Markets focuses on how the two concepts relate to each other: Are social networks an essential precondition for successful markets, or do networks arise naturally out of markets, as faceless traders build reputations and gain confidence in each other? The book includes contributions by both sociologists and economists, applying the concepts of markets and networks to concrete empirical phenomena. Among the topics analyzed, the book explains how, in Taiwan, South Korea, and Japan, firms combine into tightly-knit business blocs, how wholesalers in a Marseille fish market earn the loyalty of customers, and how ethnic retailers in the U.S. share valuable market information with other shopkeepers from their ethnic group. A response to each chapter discusses the issue from the standpoint of the other discipline. Sociologists are challenged to go beyond small-scale economic exchange and to integrate their concept of networks into a broader understanding of the economic system as a whole, while economists are challenged to consider the economic implications of network ties, which can be strong or weak, unconditional or highly contingent. This book proves that both economics and sociology provide stronger insights when they study markets and networks as parallel forms of exchange. But it also clarifies the healthy division of labor that remains between the two disciplines. Sociologists are adept at showing how markets are framed by social institutions; economists specialize in explaining how markets perform, taking the social context as a given. Networks and Markets showcases what each discipline does best and reveals where each discipline would do better by borrowing from the other.
Author: Marjan Peeters Publisher: Edward Elgar Publishing ISBN: 1788970675 Category : Law Languages : en Pages : 547
Book Description
This comprehensive Research Handbook discusses how the EU has used its regulatory power to steer towards environmentally friendly behaviour, delving into the deep concerns related to the compliance with and enforcement of EU environmental law. It also highlights the important role of civil society’s use of environmental procedural rights, and characterizes how the CJEU case law has contributed to the effective implementation of EU environmental legislation.
Author: Kajal A. Sharma Publisher: Routledge ISBN: 1000317633 Category : Business & Economics Languages : en Pages : 231
Book Description
Stress is defined as a feeling experienced when a person perceives that demands exceed the personal and social resources the individual is able to mobilize. It can occur due to environmental issues, such as a looming work deadline, or psychological, for example, persistent worry about familial problems. While the acute response to life-threatening circumstances can be life-saving, research reveals that the body’s stress response is largely similar when it reacts to less threatening but chronically present stressors such as work overload, deadline pressures and family conflicts. It is proffered that chronic activation of stress response in the body can lead to several pathological changes such as elevated blood pressure, clogging of blood vessels, anxiety, depression, and addiction. Organizational Stress Around the World: Research and Practice aims to present a sound theoretical and empirical basis for understanding the evolving and changing nature of stress in contemporary organizations. It presents research that expands theory and practice by addressing real-world issues, across cultures and by providing multiple perspectives on organizational stress and research relevant to different occupational settings and cultures. Personal, occupational, organizational, and societal issues relevant to stress identification along with management techniques/approach to confront stress and its associated problems at individual and organizational level are also explored. It will be of value to researchers, academics, practitioners, and students interested in stress management research.
Author: Robert Bork Publisher: ISBN: 9781736089712 Category : Languages : en Pages : 536
Book Description
The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Author: Paschalis A. Arvanitidis Publisher: Routledge ISBN: 1317637186 Category : Business & Economics Languages : en Pages : 268
Book Description
This book examines the relationship between the property market and urban economy. The stimulus for this work was provided by the seemingly ever-accelerating process of urban economic change and the noticeable failure of existing studies to adequately explore the pivotal role that the property market plays in this process. Drawing on institutional economics, the central argument of the book is that the property market as an institution is a mediator through which urban economic potential can be realised and served. In developing this argument, the book provides a critical realist ontological framework that advances understanding of the institutional structure of the economy and the complex interrelation between the institutional environment and human agency, as well as a holistic theoretical framework of urban economic change, where appropriate emphasis is placed on the specific mechanisms, processes and dynamics through which the built environment is provided. Arvanitidis also explores an institutional conceptualisation of property market efficiency, defined in terms of the ability of the market institution to adapt its structure and to provide outcomes that the economy requires. To inform empirical research on the developed concepts, the book also offers a generic analytical approach specifying appropriate research methods and techniques for investigation along with a specific research design providing an operational framework that translates developed theory into empirical practice. The book’s primary contribution therefore lies in its delineation of a holistic research programme to conceptualise the property market as an institution and to explore its role within the urban economy.
Author: Carsten Herrmann-Pillath Publisher: Edward Elgar Publishing ISBN: 178254836X Category : Business & Economics Languages : en Pages : 695
Book Description
ÔThis book is an ambitious intellectual enterprise to build a naturalistic foundation for economics, with amazingly vast knowledge of physical, biological, social sciences and philosophy. Readers will discover that approaches and insights emergent in institutional studies, (social)-neuroscience, network theory, ecological economics, bio-culture dualistic evolution, etc. are persuasively placed in a grand unified frame. It is written in a good Hayekian tradition. I recommend this book particularly to young readers who aspire to go beyond a narrowly specified discipline in the age of expanding communicability of knowledge and ideas.Õ Ð Masahiko Aoki, Stanford University, US ÔCarsten Herrmann-PillathÕs new book is an in-depth application of natural philosophy to economics that draws up an entirely new framework for economic analysis. It offers path-breaking insights on the interactions between human economic activity and nature and outlines a convincing solution to the long-standing reductionism controversy. A must-read for everyone interested in the philosophical underpinnings of economics as a science.Õ Ð Ulrich Witt, Max Planck Institute of Economics, Jena, Germany ÔÒBig pictureÓ philosophy of economics drifted into a dull cul-de-sac as it became obsessively focused on falsifiability and rationality. In this book Carsten Herrmann-Pilath pushes the field back onto the open highway by locating economics in the larger frameworks of metaphysics, evolutionary dynamics and information theory. This is large-scale, ambitious synthesis of ideas of the kind we expect from time to time to see devoted to physics and biology. Why should economics merit anything less? But of course this kind of intellectual tapestry must await the appearance of an unusually devoted scholar with special patience and eccentric independence from the pressure for quick returns that characterizes academic life. In the person of Hermann-Pilath this scholar has appeared. No one who wants to examine economics whole and in its richest context should miss his virtuoso performance in this book.Õ Ð Don Ross, University of Cape Town, South Africa and Georgia State University, US ÔHerrmann-PillathÕs work attempts to bring to bear upon the discipline of economics perspectives from other discourses which have been burgeoning recently Ð namely, thermodynamics, evolutionary biology, and semiotics, aiming at a consilience contextualized by economic activity and problems. This marks the work as a contemporary example of natural philosophy, which is now at the doorstep of a revival. The overall perspective is that human economic activity is an aspect of the ecology of the earthÕs surface, viewing it as an evolving physical system mediated through distributed mentality as expressed in technology evolution. Knowledge is taken to be ÔphysicalÕ with a performative function, as in PeirceÕs pragmaticism. Thus, the social meanings of expectations, prices, and credit are found to be rooted in energy flows. The work draws its foundation from Hegel and C.S. Peirce and its immediate guidance from Hayek, Veblen and Georescu-Roegen. The author generates an energetic theory of economic growth, guided by OdumÕs maximum power principle. Economic discourse itself is reworked in the final chapter, in light of the examinations of the previous chapters, naturalizing economics within an extremely powerful contemporary framework.Õ Ð Stanley N. Salthe, Binghamton University, US ÔAn Oscar-winning performance in the Òtheatre of consilience.Ó ItÕs hard to know which to praise first: Carsten Herrmann-PillathÕs humility or his ambition. He says his book Òis not a great intellectual featÓ because he pursues the Òhumble taskÓ of putting together Òthe ideas of others.Ó When he finally gets to economics he tries to Òbe as simple as possibleÓ and to conceive of economics in terms of the basics, at Òundergraduate level, so to say.Ó On the other hand, the scale of his ambition is to rethink the foundations of economics from first principles, while, at the same time, holding a running dialogue between contemporary sciences and classic philosophy. HeÕs much too modest, of course, because Foundations is a major achievement, but his modesty points to what makes it such a powerful treatise: the book is not about his preferences or prejudices; it is a Òscientific approach that aims at establishing truthful propositions about reality.Ó That is much harder to achieve than grand theories or Òcomplicated mathematics,Ó because it amounts to a new modern synthesis of the field Ð an achievement on a par with Julian HuxleyÕs, whose own modern synthesis of evolutionary theories in the 1940s allowed for the explosive growth of the biosciences over the next decades. The structure of the book is simple enough, providing a framework for the Ònaturalistic turnÓ in economics. Starting from material existence, causation and evolution, Herrmann-Pillath takes us through four fundamental concepts Ð individuals, networks, institutions and technology Ð before coming finally to the Òrealm of economics proper,Ó i.e. markets. However, Herrmann-Pillath believes that the Òfoundations of economics cannot be found within economicsÓ but only in dialogue with other sciences, or what he calls the Òtheatre of consilience.Ó ItÕs a theatre in which various characters come and go, where dialogue ebbs and flows, conflicts arise and are resolved, and where individual actions can be seen as concepts as, leading to higher levels of meaning as the plot unfolds. The magic of theatre, of course, is that the point of intelligibility, where the characters, actions and narrative resolve into meaningfulness, is projected out of the drama itself, into the spectator. ThatÕs you, dear reader. So it is with economics as a discipline. Economics is a player in a much larger performance about what constitutes knowledge, and how we know that. It is also a player in the economy it seeks to explain. To understand why money, firms, growth, prices, markets and other staples of economic thought emerge and function the way they do, it is necessary situate the analysis beyond economics (and the economy), and to engage with developments across the human, evolutionary and complexity sciences. This is what Herrmann-Pillath does, analyzing a breathtaking range of illuminating and sometimes challenging work along the way. We are treated to new ideas about the externalized brain, the evolution of knowledge in the Earth System (i.e. not just among humans), the role of signs and performativity in these processes, as well as that of Òenergetic transformations.Ó But Herrmann-Pillath is not satisfied with the ÒmodestÓ task of bringing the best of modern scientific thought to bear on economic concepts and performances; he really does harbor a deeper purpose. The clue is in his apparently quixotic desire to hang on to philosophical insights associated with pre-evolutionary thinkers like Aristotle and Hegel, and his apparently eccentric desire to place the semiotic philosophy of C.S. Pierce at center stage. But the patient observer will see that he is not seeking to change the facts by imposing idealist notions on them after the event. Instead, he is arguing for a change in the way we perform ourselves in the face of these facts. He is looking for a modern-day equivalent of Confucius or Socrates: one who can imagine values and beliefs that Òdefine the human species in a new way.Ó For those who have eyes to see, as the drama unfolds, it may be that we have found such a figure in Carsten Herrmann-Pillath himself, modesty, ambition and all. This is ÒCultural ScienceÓ as it should be done.Õ Ð John Hartley, Curtin University, Australia and Cardiff University, UK
Author: Panta Murali Prasad
Author: Panta Murali Prasad
Author: Panta Murali Prasad
Author: Merritt B. Fox
Author: James E. Rauch
Author: Marjan Peeters
Author: Kajal A. Sharma
Author: Robert Bork
Author: Dennis P. Kehoe
Author: Paschalis A. Arvanitidis
Author: Carsten Herrmann-Pillath