The Applied Theory of Price PDF Download

Author: Deirdre N. McCloskey
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 662

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Author: Laurence M. Vance
Publisher:
ISBN: 9780976344865
Category :
Languages : en
Pages : 32

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Author: Donald Stevenson Watson
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 472

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Author: Paul Milgrom
Publisher: Columbia University Press
ISBN: 023154457X
Category : Business & Economics
Languages : en
Pages : 222

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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: John Maynard Keynes
Publisher: Springer
ISBN: 3319703447
Category : Business & Economics
Languages : en
Pages : 404

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This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.

Author: Joaquín Reyes
Publisher: Bloomsbury Publishing
ISBN: 1509963529
Category : Philosophy
Languages : en
Pages : 207

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This book presents an original theory of the just price, and it is a welcome addition to scholarship on a radically underdeveloped field. This work reassesses the age-old idea that there is a just price of things, one that goes beyond the Scholastic tradition of the just price and its exclusive concern with commutative justice. There is more to just price theory than the concern for keeping equality of value between goods exchanged. Modern concerns over efficiency, autonomy, and distributive justice, can also find a place within a theory of the just price. The book: - Presents a new approach to just price theory through a broad analysis of different values and the incorporation of those conceptions into a wider normative framework - Argues that these different values ground varied conceptions of the just price, and - Promotes a virtue-based approach to price justification as an adequate framework for meeting the challenges that stem from each conception Perfect for scholars and students in the fields of jurisprudence, philosophy of private law, contract law, and political theory, this book makes a significant contribution to legal theory and the emerging field of the philosophy of economics.

Author: P. Koslowski
Publisher: Springer Science & Business Media
ISBN: 9401009562
Category : Philosophy
Languages : en
Pages : 283

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John Maynard Keynes wrote to his grandchildren more than fifty years ago about their economic possibilities, and thus about our own: "I see us free, there fore, to return to some of the most sure and certain principles of religion and traditional virtue - that avarice is a vice, that the exaction of usury is a misde meanour. . . . We shall once more value ends above means and prefer the good to the useful" ("Economic Possibilities for Our Grandchildren," pp. 371-72). In the year 1930 Keynes regarded these prospects as realizable only after a time span ofone hundred years, ofwhich we have now achieved more than half. The pres ent book does not share Keynes's view that the possibility of an integration of ethics and economics is dependent exclusively on the state of economic devel opment, though this integration is certainly made easier by an advantageous total economic situation. The conditions of an economy that is becoming post of ethics, cultural industrial and post-modern are favorable for the unification theory, and economics. Economic development makes a new establishment of economic ethics and a theory ofethical economy necessary. Herdecke and Hanover, October 1987 P. K. TABLE OF CONTENTS Foreword v Introduction . 0. 1. Ethical Economy and Political Economy . . 0. 1. 1. Ethical Economy as Theory ofthe Ethical Presuppositions of the Economy and Economic Ethics 3 0. 1. 2.

Author: St. Thomas Aquinas
Publisher: University of Notre Dame Pess
ISBN: 0268074828
Category : Philosophy
Languages : en
Pages : 501

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The Summa Contra Gentiles is not merely the only complete summary of Christian doctrine that St. Thomas has written, but also a creative and even revolutionary work of Christian apologetics composed at the precise moment when Christian thought needed to be intellectually creative in order to master and assimilate the intelligence and wisdom of the Greeks and the Arabs. In the Summa Aquinas works to save and purify the thought of the Greeks and the Arabs in the higher light of Christian Revelation, confident that all that had been rational in the ancient philosophers and their followers would become more rational within Christianity. This exposition and defense of divine truth has two main parts: the consideration of that truth that faith professes and reason investigates, and the consideration of the truth that faith professes and reason is not competent to investigate. The exposition of truths accessible to natural reason occupies Aquinas in the first three books of the Summa. His method is to bring forward demonstrative and probable arguments, some of which are drawn from the philosophers, to convince the skeptic. In the fourth book of the Summa St. Thomas appeals to the authority of the Sacred Scripture for those divine truths that surpass the capacity of reason. The present volume is a study of what God has revealed through scripture, specifically the Trinity, the Incarnation, and the end of the world. Book 1 of the Summa deals with God; Book 2, Creation; and Book 3, Providence.

Author: Marjorie Grice-Hutchinson
Publisher: Ludwig von Mises Institute
ISBN: 1610163435
Category :
Languages : en
Pages : 155

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Author: Sonia Jaffe
Publisher: Princeton University Press
ISBN: 0691198810
Category : Business & Economics
Languages : en
Pages : 248

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An authoritative textbook based on the legendary economics course taught at the University of Chicago Price theory is a powerful analytical toolkit for measuring, explaining, and predicting human behavior in the marketplace. This incisive textbook provides an essential introduction to the subject, offering a diverse array of practical methods that empower students to learn by doing. Based on Economics 301, the legendary PhD course taught at the University of Chicago, the book emphasizes the importance of applying price theory in order to master its concepts. Chicago Price Theory features immersive chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, the value of a statistical life, and occupational choice. It looks at human behavior in the aggregate of an industry, region, or demographic group, but also provides models of individuals when they offer insights about the aggregate. The book explains the surprising answers that price theory can provide to practical questions about taxation, education, the housing market, government subsidies, and much more. Emphasizes the application of price theory, enabling students to learn by doing Features chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, and the value of a statistical life Supported by video lectures taught by Kevin M. Murphy and Gary Becker The video course enables students to learn the theory at home and practice the applications in the classroom