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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: Guillaume Haeringer Publisher: MIT Press ISBN: 0262345099 Category : Business & Economics Languages : en Pages : 393
Book Description
A broad overview of market mechanisms, with an emphasis on the interplay between theory and real-life applications; examples range from eBay auctions to school choice. This book offers an introduction to market design, providing students with a broad overview of issues related to the design and analysis of market mechanisms. It defines a market as a demand and a supply, without specifying a price system or mechanism. This allows the text to analyze a broad set of situations—including such unconventional markets as college admissions and organ donation—and forces readers to pay attention to details that might otherwise be overlooked. Students often complain that microeconomics is too abstract and disconnected from reality; the study of market design shows how theory can help solve existing, real-life problems. The book focuses on the interplay between theory and applications. To keep the text as accessible as possible, special effort has been made to minimize formal description of the models while emphasizing the intuitive, with detailed explanations and resolution of examples. Appendixes offer general reviews of elements of game theory and mechanism design that are related to the themes explored in the book, presenting the basic concepts with as many explanations and illustrations as possible. The book covers topics including the basics of simple auctions; eBay auctions; Vickrey–Clarke–Groves auctions; keyword auctions, with examples from Google and Facebook; spectrum auctions; financial markets, with discussions of treasury auctions and IPOs; trading on the stock market; the basic matching model; medical match; assignment problems; probabilistic assignments; school choice; course allocation, with examples from Harvard and Wharton; and kidney exchange.
Author: Teresa Torres Publisher: Product Talk LLC ISBN: 1736633317 Category : Design Languages : en Pages : 201
Book Description
"If you haven't had the good fortune to be coached by a strong leader or product coach, this book can help fill that gap and set you on the path to success." - Marty Cagan How do you know that you are making a product or service that your customers want? How do you ensure that you are improving it over time? How do you guarantee that your team is creating value for your customers in a way that creates value for your business? In this book, you'll learn a structured and sustainable approach to continuous discovery that will help you answer each of these questions, giving you the confidence to act while also preparing you to be wrong. You'll learn to balance action with doubt so that you can get started without being blindsided by what you don't get right. If you want to discover products that customers love-that also deliver business results-this book is for you.
Author: Paul Milgrom Publisher: Cambridge University Press ISBN: 1139449168 Category : Business & Economics Languages : en Pages : 392
Book Description
This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.
Author: John Brinckerhoff Jackson Publisher: Yale University Press ISBN: 9780300035810 Category : Social Science Languages : en Pages : 188
Book Description
A pioneer in landscape studies takes us on a tour of landscapes past and present to show how our surroundings reflect our culture. "No one who cares deeply about landscape issues can overlook the scores of brilliant insights and challenges to the mind, eye and conscience contained in Discovering the Vernacular Landscape. It is a book to be deeply cherished and to be read and pondered many times."--Wilbur Zelinsky, Landscape "While it is fashionable to speak of man as alienated from his environment, Mr. Jackson shows us all the ties that bind us to it, consciously or unconsciously. He teaches us to speak intelligently--rather than polemically or wistfully--of the sense of place."--Anatole Broyard, New York Times "This book is a vital and seminal text: do beg, borrow or buy it."--Robert Holden, Landscape Design (London) "Incisive and overpoweringly influential. It will probably tell you something about how you live that you've never thought about."--Thomas Hine, The Philadelphia Inquirer "No one can come close to Jackson in his unique combination of historical scholarship and field experience, in his deep knowledge of European high culture as well as of American trailer parks, in his archivist's nose for the unusual fact and his philosopher's mind for the trenchant, surprising question."--Yi-Fu Tuan
Author: David Warsh Publisher: W. W. Norton & Company ISBN: 0393329887 Category : Biography & Autobiography Languages : en Pages : 449
Book Description
Chronicling the story of what has come to be called the new growth theory, this text helps to explain dominant first-mover firms like IBM or Microsoft, underscores the value of intellectual property, and provides essential advice to those concerned with the expansion of the economy.
Author: Omar Abbosh Publisher: PublicAffairs ISBN: 1541742680 Category : Business & Economics Languages : en Pages : 333
Book Description
The proven, effective strategy for reinventing your business in the age of ever-present disruption Disruption by digital technologies? That's not a new story. But what is new is the "wise pivot," a replicable strategy for harnessing disruption to survive, grow, and be relevant to the future. It's a strategy for perpetual reinvention across the old, now, and new elements of any business. Rapid recent advances in technology are forcing leaders in every business to rethink long-held beliefs about how to adapt to emerging technologies and new markets. What has become abundantly clear: in the digital age, conventional wisdom about business transformation no longer works, if it ever did. Based on Accenture's own experience of reinventing itself in the face of disruption, the company's real world client work, and a rigorous two-year study of thousands of businesses across 30 industries, Pivot to the Future reveals methodical and bold moves for finding and releasing new sources of trapped value-unlocked by bridging the gap between what is technologically possible and how technologies are being used. The freed value enables companies to simultaneously reinvent their legacy, and current and new businesses. Pivot to the Future is for leaders who seek to turn the existential threats of today and tomorrow into sustainable growth, with the courage to understand that a wise pivot strategy is not a one-time event, but a commitment to a future of perpetual reinvention, where one pivot is followed by the next and the next.
Author: Leonard L. Berry Publisher: Simon and Schuster ISBN: 0684830868 Category : Business & Economics Languages : en Pages : 288
Book Description
This wise and inspiring book by Leonard Berry, moves far beyond his pioneering work in services marketing and service quality to explain how great service companies meet their toughest challenge: sustaining long-term success. In a world where customers regard flawless products as a given, service is the key differentiator between competitors in any field. From Berry's exacting study of fourteen mature, highly successful, labor-intensive companies comes an astonishing revelation: the single most important factor in building a lasting service business is not a matter of savvy business practice, but of humane values. In all fourteen award-winning companies -- Bergstrom Hotels, The Charles Schwab Corporation, Chick-fil-A, The Container Store, Custom Research Inc., Dana Commercial Credit, Dial-A-Mattress, Enterprise Rent-A-Car, Midwest Express Airlines, Miller SQA, Special Expeditions, St. Paul Saints, USAA, and Ukrop's Super Markets -- values-driven leadership connects with strategic focus, executional excellence, control of destiny, trust-based relationships, generosity, investment in employee success, acting small, and brand cultivation to drive customer satisfaction, innovation, and growth. Dedicating a chapter to each of these nine drivers, this book is the most far-reaching and insightful vision ever presented of the principles and step-by-step actions that continuously bring success to life in a company. Berry's comprehensive model reveals the soul that underlies the strategies and day-to-day operations of great service companies, guiding the thousands of daily decisions of individual employees. Clear, compelling, pathbreaking, Discovering the Soul of Service is essential reading for managers everywhere.
Author: Oprah Winfrey Publisher: Flatiron Books ISBN: 1250307511 Category : Body, Mind & Spirit Languages : en Pages : 340
Book Description
Everyone has a purpose. And, according to Oprah Winfrey, “Your real job in life is to figure out as soon as possible what that is, who you are meant to be, and begin to honor your calling in the best way possible.” That journey starts right here. In her latest book, The Path Made Clear, Oprah shares what she sees as a guide for activating your deepest vision of yourself, offering the framework for creating not just a life of success, but one of significance. The book’s ten chapters are organized to help you recognize the important milestones along the road to self-discovery, laying out what you really need in order to achieve personal contentment, and what life’s detours are there to teach us. Oprah opens each chapter by sharing her own key lessons and the personal stories that helped set the course for her best life. She then brings together wisdom and insights from luminaries in a wide array of fields, inspiring readers to consider what they’re meant to do in the world and how to pursue it with passion and focus. Renowned figures such as Eckhart Tolle, Brene Brown, Lin-Manuel Miranda, Elizabeth Gilbert, Jay-Z, and Ellen DeGeneres share the greatest lessons from their own journeys toward a life filled with purpose. Paired with over 100 awe-inspiring photographs to help illuminate the wisdom of these messages, The Path Made Clear provides readers with a beautiful resource for achieving a life lived in service of your calling – whatever it may be.
Author: Ashok K. Mishra Publisher: Routledge ISBN: 1000336433 Category : Business & Economics Languages : en Pages : 386
Book Description
Debates about public expenditure in the agricultural sector have reopened in many developing and emerging economies because of high budget deficits and changes in public opinion. As a result, agricultural policy in many of these countries is beginning to take a more market-oriented approach to agrarian problems, most notably through the introduction of contract farming. This book explores the policy issues around contract farming and its transformative potential and addresses the lack of empirical research on this topic by focusing on South Asia: principally India, Bangladesh and Nepal. The book first addresses the effects of contract farming (vertical coordination) on productivity, food security indicators (yield, consumption expenditures, prices), employment and input usage. Then it draws lessons from the South Asian case studies on the impact of institutional changes, like contract farming, on income and food security of smallholder households. The core of the book includes case study chapters on several commodities that are produced under contract farming, including vegetables and fisheries in Bangladesh, low-value crops in Nepal and coffee in India. Other chapters also explore contracts, storage, input usage and technical efficiency in these cases. This book serves as an essential guide to academics, researchers, students, legislative liaisons and think tank groups interested in agrarian issues, agricultural economics and agricultural policy in emerging economies and particularly in South Asia.
Author: Paul Milgrom
Author: Paul Milgrom
Author: Guillaume Haeringer
Author: Teresa Torres
Author: Paul Milgrom
Author: John Brinckerhoff Jackson
Author: David Warsh
Author: Omar Abbosh
Author: Leonard L. Berry
Author: Oprah Winfrey
Author: Ashok K. Mishra