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Author: Martin Shubik Publisher: MIT Press ISBN: 9780262693110 Category : Business & Economics Languages : en Pages : 472
Book Description
This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.
Author: Martin Shubik Publisher: MIT Press ISBN: 9780262693110 Category : Business & Economics Languages : en Pages : 472
Book Description
This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.
Author: Michael Grossman Publisher: Columbia University Press ISBN: 0231544529 Category : Business & Economics Languages : en Pages : 153
Book Description
A seminal work in health economics first published in 1972, Michael Grossman's The Demand for Health introduced a new theoretical model for determining the health status of the population. His work uniquely synthesized economic and public health knowledge and has catalyzed a vastly influential body of health economics literature. It is well past time to bring this important work back into print. Grossman bases his approach on Gary S. Becker's household production function model and his theory of investment in human capital. Consumers demand health, which can include illness-free days in a given year or life expectancy, and then produce it through the input of medical care services, diet, other market goods and services, and time. Grossman also treats health and knowledge as equal parts of the durable stock of human capital. Consumers therefore have an incentive to invest in health to increase their earnings in the future. From here, Grossman examines complementarities between health capital and other forms of human capital, the most important of which is knowledge capital earned through schooling and its effect on the efficiency of production. He concludes that the rate of return on investing in health by increasing education may exceed the rate of return on investing in health through greater medical care. Higher income may not lead to better health outcomes, as wealth enables the consumption of goods and services with adverse health effects. These are some of the major revelations of Grossman's model, findings that have great relevance as we struggle to understand the links between poverty, education, structural disadvantages, and health.
Author: Matthias Kalkuhl Publisher: Springer ISBN: 3319282018 Category : Business & Economics Languages : en Pages : 620
Book Description
This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.
Author: Giannini Foundation of Agricultural Economics Publisher: Giannini Foundation of Agricultural Economics University of California ISBN: Category : Agriculture Languages : en Pages : 422
Author: Scott Cook Publisher: Rowman & Littlefield ISBN: 9780742534919 Category : Business & Economics Languages : en Pages : 366
Book Description
For the past century, the anthropological study of the Mexican economy has accentuated the cultural and historical distinctiveness of its subjects, a majority of whom share Amerindian or mestizo identity. By selectively reviewing this record and critically examining specific foundational and later empirical studies in several of Mexico''s key regions, as well as the U.S.-Mexico borderlands and the new trans-border space in the U.S. and Canada for Mexican-origin migrant labor, this book encourages readers to critically rethink their views of economic otherness in Mexico (and, by extension, elsewhere in Latin America and the Third World), and presents a new framework for understanding the Mexican/Mesoamerican economy in world-historical terms. Among other things, this involves reconciling the continuing attraction of concepts like ''penny capitalism'' with the realities of a world ever more subjected to continental and global market projects of ''DOLLAR CAPITALISM.'' It also involves concentrating on the production and consumption of commodity value.The key concept ''commodity culture(s)'' serves as a thread to loosely integrate the separate chapters of this book. It is conceived as a way to operationally immobilize two contradictory tendencies: first, the tendency to understand an economy like Mexico''s as a separate reality from its sociocultural matrix thus distorting its influence; and, second, the tendency to submerge ''economy'' in its sociocultural matrix thereby diffusing its influence. This double immobilization promotes a focus on the interconnectedness of economy, society, and culture, but also makes it possible methodologically to approach themes like cultural survival, subsistence/livelihood security, use value, ecological degradation, human rights, or the sociocultural connectedness of the economy from the perspective of a commodity-focused analysis that privileges use- and exchange-value production and consumption. Such an approach provides a unique perspective in demonstrating how lived experience is informed by and shapes the diversifying funds of knowledge that enable Mexicans under economic stress to make culturally-informed choices in their material interest. The focus on deliberative decision-making, understood as involving utilitarian means-end reasoning necessarily influenced by social and moral considerations, promotes a balanced approach to the economy/culture relationship and to the role of agency in processes of economic transformation. The challenge to economic anthropology in seeking to understand processes of livelihood and accumulation in societies like Mexico with uneven development, persisting cultures of precapitalist origin, yet pervasive involvement in continental and global capitalist markets, is to deal with an unusually diverse array of capital/labor relations, as well as with significant sectors of the rural population with combined, if alternating, involvement in capitalist, petty commodity, and subsistence circuits of value production and consumption. The common denominator of this activity is deliberative choice by Mexicans regarding the acquisition, use, and/or accumulation of commodity value calculated in money terms. This market-responsive behavior, since the early 1980s, has been generated by conditions of subsistence and/or accumulation crisis in Mexico. There is an important message here that should be comforting to those in the United States who are threatened by or uneasy about the growing presence of Mexican migrants in our midst. It should also give pause to others who are quick to emphasize, even exoticize or romanticize, the cultural or ethnic differences between Mexicans and Americans. With regard to fundamental aspirations and considerations related to making and earning a living, including sociopolitical understandings, there is really very little difference between us. Too much has been made in the past of the concrete economic differences between our two countries represented in abstract, statistical terms (or in systemic terms regarding politics/political culture) as an asymmetrical First World-Third World divide. This notion of economic (and political) difference or ''otherness'' has been reinforced by a conflictive and controversial history that has shaped the international border between the U.S. and Mexico, and reverberated in our respective national identities, since the middle of the 19th century. It has also been accentuated by the impersonal, instrumental discourse of international capitalist development which has made ''maquiladora,'' ''indocumentado,'' and ''cheap labor'' household words in both countries. Against this litany of economic (and political) difference, the lesson to be gleaned from the record of study of Mexican/Mesoamerican commodity culture, from the highlands of Guatemala to the Valleys of Oaxaca or Guerrero to the coasts of Veracruz and along the Rio Bravo side of the border, is that its bearers and fashioners, the peoples of this vast region south of the Rio Grande/Rio Bravo, think and act about making and earning their livelihood just as we would in their space. It is this fundamental recognition of our common humanity that should be uppermost in all of our minds as we negotiate and struggle our respective ways together through NAFTAmerica in the twenty-first century.
Author: Blake C. Clayton Publisher: Cambridge University Press ISBN: 1107042518 Category : Business & Economics Languages : en Pages : 215
Book Description
This book provides a clear-eyed analysis of questions at the intersection of commodity markets, natural resource economics, and public policy.
Author: Martin Shubik
Author: Martin Shubik
Author: Michael Grossman
Author: Matthias Kalkuhl
Author: Giannini Foundation of Agricultural Economics
Author: HwaJung Choi
Author: Richard A. Dunn
Author: Scott Cook
Author: 
Author: Blake C. Clayton
Author: Giannini Foundation of Agricultural Economics