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Coalition formation is an important problem in economics, politics, and a broad range of other social situations. Examples of coalitions range from those at the level of individuals (families, couples, teams, employers, workers) through to those at the level of...
Classical mechanics provided the conceptual and methodological foundations of neoclassical economics, which has its roots in economic individualism. Since the early twentieth century, statistical mechanics has underpinned a lesser-known approach to economics and...
Individuals and groups often find themselves in problematic situations not knowing what to do next. They may experience a sense of unease that things aren't quite right, with no clear path to a better future. This book shows how decision analysis and the social skills...
Today's organizations face rapid change, digital disruption, and rising demands for sustainability and resilience. This fifth edition text equips executives, students, and educators with a proven framework for designing effective organizations in complex environments....
Empirical Bayes methods as envisioned by Herbert Robbins are becoming an essential element of the statistical toolkit. InEmpirical Bayes: Tools, Rules, and Duals, Roger Koenker and Jiaying Gu offer a unified view of these methods. They stress recent computational...
The development of artificial intelligence and machine learning is leading to a revolution in the way we think about economic decisions.The Economics of Language explores how the use of generative AI and large language models (LLMs) can transform the way we think about...
The authors introduce a novel bootstrap approach to resampling asset price data that can be used for both finite-maturity assets and equities.The key insight is that they bootstrap primitive objects with more appealing statistical properties to avoid resampling series...
Antitrust and competition laws are government regulations that seek to encourage competition by limiting the market power of firms. Some degree of monopolistic or market power has long been a feature of our economies and is most recognisable today through the activities...
Despite past progress towards gender equality, recent trends reveal a stagnating - or even reversing - situation since 2019. According to recent estimates, full parity is to be reached in 134 years, shifting this achievement from 2030 to 2158. Women still exhibit worse...
Ronald Coase's Nobel work outlined gains by reducing transaction costs and promoting property rights and markets to confront externalities. Countering market failure assertions and calls for centralized government intervention, Coase retorted that decentralized market...
Offering a bold and original perspective, Leadership for Sustainability explores how leadership can drive meaningful sustainability transitions through local and regional governance. The authors introduce an interpretive framework developed around the concepts of myth,...
How can human flourishing arise from what the poet Mary Oliver called 'good work/ongoing'? In its attentiveness to the material, form and purpose of distinct, well-made things, craft epitomizes good work. In its disciplined, quiet giving over to the repetitions of...
This Element seeks to develop an empirical research agenda that explores the applicability of the growth model perspective in comparative political economy to emerging capitalist economies (ECEs). Such an approach emphasizes the variety of possible growth models and...
Nordic Capitalism shows how democratic capitalism supports freedom, shared prosperity, and sustainability through a comparative analysis ofNordic and American capitalisms. Drawing on real-world examples and personal experience, Robert Gavin Strand distills ten core...
How have European countries coped with the challenge of industrial capitalism and the rise of superpowers? Through an analysis of European integration from 1945 to the present day, Laurent Warlouzet argues that the European response was to create both new institutions...
Why do well-meaning developmental policies fail? Power intervenes. Consider the recent collapse of the peace agreement between the Colombian government and FARC guerillas. Achieving inclusive development entails resolving collective-action problems of forging...
In this innovative reinterpretation of the economic history of Africa and Europe, Warren C. Whatley argues that freedom from Western-style slavery is the origin of modern Western economic growth. Such freedom was achieved around the 13th century in Western European...
Since the United States hosted the Leaders' Summit on Climate in 2021, numerous countries have committed to net-zero emission targets. Given the size of their economies, populations, and greenhouse gas emissions, emerging markets and developing economies in South, East,...
In March 1989, US Treasury Secretary Nicholas Brady introduced a plan enabling distressed sovereigns to restructure unsustainable debts through 'Brady bonds.' Today, growing debt vulnerabilities have prompted calls for a modern Brady Plan to facilitate sovereign debt...
This Element presents a framework for analyzing the complexities of contracting, how these vary across circumstances, the ways contract managers can address challenges, and the skills of contract managers. The framework is grounded on central concepts. Market frictions...
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