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www.cambridge.org/economics 2005 Contents Highlights include…

General Economics and Economic Regulation and Development Theory 1 Jean-Jacques Laffont Economic Thought, Philosophy “It opens a huge new research agenda for and Methodology 2 academics and helps practitioners improve Econometrics 4 their ability to provide effective policy advise. Econometric Exercises 5 It is a required reading for anyone claiming to care for the effectiveness of the delivery of The Stone Lectures in Economics 6 public services in developing countries.” Themes in Modern Economics 6 Antonio Estache, Econometric Society Monographs 7 Senior Economic Advisor, The World Bank Mathematical Methods and Programming 8 See page 36 Analytical Methods for Social Research 12 Microeconomics 13 Macroeconomics and Monetary Globalization and the International Economics 15 Financial System International Economics 17 What's Wrong, and What Can Be Done Financial Economics 18 Peter Isard Public Economics and Political “No single volume I know does a better job of Economy 22 evaluating the current international financial system Law and Economics 26 and its history, and drawing sensible implications Industrial Organization and Labour for national and global policy. This book will be Economics 27 required reading for every serious student of the world economy.” Maurice Obstfeld, Business and Management 29 University of California, Berkeley Economic History 33 Economic Development See page 17 and Growth 36 Economic Systems 37 New Series Environmental and Natural Econometric Exercises Resource Economics 38 Series Editors: Karim M. Abadir, Jan Magnus and Peter C.B. Phillips Regional Economics 40 Overview Journals 40 The volumes of solved exercises in the series are designed both for classroom Index 45 teaching in econometrics and offer an independent, learning-by-doing program for anyone wanting to learn more about econometric methods and applications.

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Useful contacts www.cambridge.org/economics Book proposals: Chris Harrison ([email protected]) This catalogue contains a selection of our most recent publishing in this area. Please visit our website for a full and searchable listing of all our titles in print and also an extensive range of For further information about economics titles: news, features and resources. Our online ordering service is secure and easy to use. Maria Angelaki ([email protected]) All other enquiries, phone +44 (0) 1223 312393 or email [email protected] Many of our journal titles are now available online. Each journal entry Prices and Payment in this catalogue indicates where the price includes, or will include, Prices and publication dates are correct at the time of access to the electronic version of the journal during 2005. Full text is going to press but are subject to alteration without available FREE to all individuals within the registered domain address notice. of full rate subscribers. In addition, the service provides all users with FREE access to tables of contents and abstracts, and a FREE email alerting service. General Economics and Economic Theory 1

Contributors: Bjørn Lomborg, William Risk and Reason General Cline, Robert Mendelsohn, Alan S. Manne, Safety, Law, and the Economics and Anne Mills, Sam Shilcutt, David B. Evans, Environment Jacques van der Gaag, Paul Collier, Anke Cass R. Sunstein Economic Hoeffler, Michael D. Intraligator, Tony University of Chicago Law School Addison, Lant Pritchett, T. Paul Schultz, Risk and Reason explains the source of Theory Ludger Wöbmann, Barry Eichengreen, problems regarding such issues as Charles Wyplosz, Peter Blair Henry, Susan safety, health, and the environment and Rose-Ackerman, Jens Christopher Andvig, shows what can be done about them. It HIGHLIGHT Jean Cartier-Bresson, Jere R. Behrman, points the way toward a sensible system Global Crises, Global Harold Alderman, John Hoddinott, Peter for reducing risks, one that could save Svedberg, Simon Appleton, Philip Martin, Solutions thousands of lives and billions of Mark Rosenzweig, Roger Böhning, Frank dollars. Edited by Bjorn Lomborg Rijsberman, John J. Boland, Henry Vaux, 2004 228 x 152 mm 358pp Aarhus Universitet, Denmark Jr., Kym Anderson, Jan Pronk, Arvind 17 line diagrams 41 tables A unique publication Panagariya, Jagdish Bhagwati, Robert 0 521 01625 8 Paperback £15.99 exploring the opportunities for Fogel, Bruno Frey, Justin Yifu Lin, Douglass Also available addressing ten of the most serious North, Thomas Schelling, Vernon Smith, 0 521 79199 5 Hardback £25.00 challenges facing the world today: Nancy Stokey Climate Change, Communicable 2004 247 x 174 mm 670pp 80 tables HIGHLIGHT Diseases, Conflicts, Education, Financial 60 graphs Instability, Corruption, Migration, 0 521 84446 0 Hardback £45.00 Rational Herds Malnutrition and Hunger, Trade Barriers, 0 521 60614 4 Paperback £19.99 Economic Models of Social Access to Water. In a world fraught with www.cambridge.org/globalcrises Learning problems and challenges, we need to Christophe P. Chamley gauge how to achieve the greatest The Skeptical Boston University good with our money. Global Crises, Environmentalist Penguins jumping off a cliff, economic forecasters and financial advisors Global Solutions provides a rich set of Measuring the Real State of the arguments and data for prioritising our World speculating against a currency, and farmers using traditional methods in response most effectively. Each problem Bjørn Lomborg is introduced by a world-renowned Aarhus Universitet, Denmark India are all practising social learning. Such learning from the behavior of expert defining the scale of the problem ‘This is one of the most valuable books and describing the costs and benefits of on public policy – not merely on others may and does lead to herds, a range of policy options to improve the environmental policy – to have been crashes, and booms. These issues have situation. Each challenge is evaluated by written for the intelligent reader in the become, over the last ten years, an economists from North America, Europe past ten years … The Skeptical exciting field of research in theoretical and China who attempt a ranking of Environmentalist is a triumph.’ and applied economics, finance, and in the most promising options. Whether The Economist other social sciences. This book provides ‘… a superbly documented and you agree or disagree with the analysis both an informal introduction and in- readable book.’ or conclusions, Global Crises, Global Wall Street Journal depth insights into the most recent Solutions provides a serious, yet 2001 247 x 174 mm 540pp 9 tables advances. accessible, springboard for debate and 162 graphs ‘This book is a notable achievement. It discussion. 0 521 80447 7 Hardback £50.00 is ambitious in scope, and provides 0 521 01068 3 Paperback £18.99 substantive understanding of how • Tackles ten of the world’s biggest different models in the area work. It problems offers a deep understanding of the • Innovative approach attempts to Making Technology range of validity of different provide a non-partisan analysis Work conclusions in the literature and the Applications in Energy and the relations between different possible • Exceptionally high calibre of Environment model results. The general economist contributing authors John M. Deutch will find a rigorous and lucid in-depth The Economist selected Global Crises, Massachusetts Institute of Technology introduction to the field. Even experts in the field will find here many Global Solutions as one of the best and Richard K. Lester challenges as well as enlightenment. books of 2004. Massachusetts Institute of Technology Chamley’s book promises to be the key ‘A hugely sensible book about global This book presents fifteen interdisciplinary reference on rational models of social health and environmental problems, case studies of the application of learning in economics for some time to based on the ‘Copenhagen Consensus’ technology in the energy and come.’ project documented in The Economist. environment sectors. The case studies David Hirshleifer, Ohio State University Its authors, eminent economists, include applications of solar, wind, fuel ‘Christophe Chamley brings the reader recognise that the resources to tackle cell, nuclear, and other coal combustion to the state of the art in formal such problems are finite and need to be and emission control technologies. Both modeling of social learning. His applied where they are most likely to be treatment of this burgeoning literature effective. Better, for instance, to spend successes and failures are analyzed. is extraordinarily clear and resources on the immediate problem of 2004 253 x 177 mm 282pp comprehensive. This book, by an 74 line diagrams 13 half-tones 43 tables AIDS in Africa than the more distant one author who has himself made major of global warming. This book is a 0 521 81857 5 Hardback £75.00 0 521 52317 6 Paperback £26.00 contributions to the subject, is healthy antidote to the narrow views of destined to become a standard single-issue pressure groups.’ reference in the area.’ The Economist Sushil Bikhchandani, UCLA

Visit our website at www.cambridge.org 2 Economic Thought, Philosophy and Methodology

‘Christophe Chamley has made NEW be one of its most original thinkers. As profound contributions to the growth he does in this book, he has always of the field, and presents us now with New Frontiers in challenged accepted ways of thinking the definitive guide. His book is Economics by both economists and historians.’ essential reading not only for graduate Elizabeth Hoffman, President, University of students, but also for current Edited by Michael Szenberg Colorado System Pace University, New York researchers trying to stay abreast of ‘Dick Easterlin has been reluctant to and Lall Ramrattan new findings. It helps us understand conform to economists’ disciplinary University of California, Berkeley not only where the literature came prejudice against learning from from, but also where it is going. Foreword by Paul A. Samuelson ‘subjective’ data on people’s motives Andrew Caplin, New York University Leading economists analyze the new and intentions or from the knowledge 2004 253 x 177 mm 416pp directions that subdisciplines of patiently built up in disciplines like 68 line diagrams 7 tables 61 exercises economics have taken in the face of history and demography. The resulting 0 521 82401 X Hardback £80.00 breadth of curiosity and knowledge modern economic challenges. The essays 0 521 53092 X Paperback £30.00 has helped him produce an represent invention and discovery in the extraordinary body of work. Whether areas of information, macroeconomics FORTHCOMING assessing the impact of economic and public policies, international trade growth on human well-being, the Economic Analysis of and development, finance, business, influence of aspiration levels on family Social Common Capital contracts, law, gaming, and size, or the role of preferences in explaining occupational choice, Hirofumi Uzawa government, as these areas of study evolve through the different phases of Easterlin’s analyses are, over and over Doshisha University, Kyoto again, refreshingly non-dogmatic, the scientific process. They offer a This book attempts to modify and richly informed and insightful. Other wealth of factual information on the extend the theoretical premises of economists should be so reluctant.’ current state of the economy, alongside orthodox economic theory to make Michael McPherson, Spencer Foundation theoretical and empirical innovations them broad enough to analyze the 2004 228 x 152 mm 304pp that conceptualize reality and values in 31 line diagrams 21 tables economic implications of social common different ways from their predecessors. 0 521 82974 7 Hardback £45.00 capital, and to find the institutional 2004 228 x 152 mm 336pp arrangements and policy measures that 7 line diagrams 2 tables will bring about the optimal state of 0 521 83686 7 Hardback £45.00 affairs in which the natural and 0 521 54536 6 Paperback £15.99 Economic institutional components are blended Thought, together harmoniously to realize the The Reluctant sustainable state as introduced by John Philosophy and Stuart Mill. This book introduces an Economist analytical framework in which economic Perspectives on Economics, Economic History, and Methodology implications of social common capital Demography are fully examined and explore the Richard A. Easterlin conditions under which the University of Southern California HIGHLIGHT intertemporal allocation of scarce ‘Reluctant? Richard Easterlin brings to The Wealth of Ideas resources, including both social common his work such a striking combination A History of Economic Thought capital and private capital, is of curiosity, enthusiasm, ambition, Alessandro Roncaglia dynamically optimum or sustainable precision, and skepticism that we Università degli Studi di Roma ‘La Sapienza’, Italy from the social point of view. might better call him the Thoughtful 2005 228 x 152 mm 400pp Economist. Here we witness him The Wealth of Ideas traces the history 6 line diagrams applying his unique synthesis of of economic thought from its prehistory 0 521 84788 5 Hardback c. £45.00 demography, social psychology, and (the Bible, Classical antiquity) to the Publication June 2005 economic analysis to a vast but well present day. In this eloquently written, disciplined array of evidence scientifically rigorous and well concerning multiple times, places, and documented book, chapters on William social phenomena.’ Petty, Adam Smith, David Ricardo, Karl Charles Tilly, Columbia University Marx, William Stanley Jevons, Carl ‘In this important and thought- Menger, Léon Walras, Alfred Marshall, provoking set of essays, Richard A. Easterlin draws upon history, John Maynard Keynes, Joseph demography, and related social sciences Schumpeter and Piero Sraffa, alternate to supplement economic analysis and to with chapters on other important provide a rich explanation of major figures and on debates of the period. questions concerning the Industrial, Economic thought is seen as developing Demographic, and Mortality Revolutions between two opposite poles: a and the links among them. The range of subjective one, based on the ideas of ideas and information presented make scarcity and utility, and an objective one this a most significant contribution to understanding economic and based on the notions of physical costs demographic developments in the past, and surplus. Professor Roncaglia focuses present, and future.’ on the different views of the economy Stanley Engerman, University of Rochester and society and on their evolution over ‘This is a must read book for students time and critically evaluates the of economic and demographic history. foundations of the scarcity-utility Richard Easterlin is one of the approach in comparison with the founders of the field and continues to Classical/Keynesian approach. Economic Thought, Philosophy and Methodology 3

Contents: Preface; 1. The history of Contents: Prolegomenon: 1. Evolutionary FORTHCOMING economic thought and its role; 2. The economics: a theoretical framework Kurt prehistory of political economy; 3. William Dopfer; Part I. Ontological Foundations: Ricardo’s Petty and the origins of political economy; 2. The rediscovery of value and the opening Macroeconomics 4. From body politic to economic tables; of economics Ilya Prigogine; 3. Synergetics: Money, Trade Cycles, and 5. Adam Smith; 6. Economic science at the from physics to economics Hermann Haken; Growth time of the French revolution; 7. David 4. Darwinism, altruism and economics Timothy S. Davis Ricardo; 8. The ‘Ricardians’ and the decline Herbert A. Simon; 5. Decomposition and of Ricardianism; 9. Karl Marx, 10. The growth: biological metaphors in economics This book describes the contribution of marginalist revolution: the subjective theory from the 1880s to the 1980s Geoffrey M. David Ricardo, one of the most of value; 11. The Austrian schools and its Hodgson; 6. Path dependence in economic influential economists of the nineteenth neighbourhood; 12. General economic processes: implications for policy analysis in century, to the development of equilibrium; 13. Alfred Marshall; 14. John dynamical systems contexts Paul A David; macroeconomics. The subjects covered Maynard Keynes; 15. Joseph Schumpeter; 7. Is there a theory of economic history? include monetary policy, economic 16. Piero Sraffa; 17. The age of Joel Mokyr; Part II. Framework for growth, and business cycles. The book disgregation; 18. Where are we going? Evolutionary Analysis: 8. Toward an provides a detailed history of economic 2005 228 x 152 mm 582pp 5 figures evolutionary theory of production Sidney G. 0 521 84337 5 Hardback £60.00 Winter; 9. Learning in evolutionary conditions in the early nineteenth Publication April 2005 environments Giovanni Dosi, Luigi Marengo century, allowing the author to show and Giorgio Fagiolo; 10. Evolutionary theory that Ricardo was well-versed in current of the firm Ulrich Witt; 11. The self- affairs and that he recognized the HIGHLIGHT organizational perspective on economic practical implications of his proposals. The Evolutionary processes: a unifying paradigm John Foster; No other book draws such meticulous Foundations of 12. Evolutionary concepts in relation to parallels between historical events and evolutionary economics J. Stanley Metcalfe; the way they shaped the development Economics 13. Economics and the science of of classical economics. Edited by Kurt Dopfer evolutionary complex systems Peter Allen; Historical Perspectives on Modern Universität St Gallen, Switzerland 14. Perspectives on technological evolution Economics Richard R. Nelson; 15. Complex dynamics It is widely recognised that mainstream 2005 228 x 152 mm 304pp economics has failed to translate micro in economic organisms Ping Chen; 1 line diagram 16. Evolutionary theorizing on economic consistently into macro economics and 0 521 84474 6 Hardback c. £45.00 growth Gerald Silverberg and Bart Publication May 2005 to provide endogenous explanations for Verspagen; Bibliography. the continual changes in the economic 2005 228 x 152 mm 591pp 39 figures system. Since the early 1980s, a 0 521 62199 2 Hardback £60.00 FORTHCOMING Publication March 2005 growing number of economists have Economics and Social been trying to provide answers to these Interaction two key questions by applying an FORTHCOMING evolutionary approach. This new Accounting for Interpersonal Relations departure has yielded a rich literature Adam Smith’s Moral with enormous variety, but the unifying Philosophy Edited by Benedetto Gui Università degli Studi di Padova, Italy principles connecting the various ideas A Historical and Contemporary Perspective on Markets, Law, and Robert Sugden and views presented are, as yet, not University of East Anglia apparent. This volume brings together Ethics, and Culture fifteen original articles from scholars – Jerry Evensky Economics and Social Interaction is an each of whom has made a significant Syracuse University, New York important contribution to a growing contribution to the field – in their Adam Smith is the best known among research agenda that applies traditional common effort to reconstruct economics economists for his book, The Wealth of economic concepts to the realm of as an evolutionary science. Using meso Nations, often viewed as the keystone of interpersonal relationships. The authors economics as an analytical entity to modern economic thought. Others, on combine analytical rigour with bridge micro and macro economics as the contrary, focus on Smith’s Theory of sensitivity to the insights of other social well as static and dynamic realms, a Moral Sentiments, and explore his moral science traditions resulting in a book unified economic theory emerges, theory. This work treats these dimensions devoid of polemics that will attract a offering an entirely new approach to the of Smith’s work as elements in a wide interdisciplinary readership. foundations of economics. seamless moral philosophical vision, 2005 228 x 152 mm 291pp 3 figures 0 521 84884 9 Hardback c. £45.00 ‘The construction of an evolutionary demonstrating the integrated nature of Publication July 2005 economics is, in my view, one of the these works and Smith’s other writings. greatest scientific adventures of our This book weaves Smith into a time. This book brings together the constructive critique of modern economic leading scholars in the field to articulate analysis and builds bridges between that what the evolutionary project in discourse and the other social sciences. economics is all about, to provide a Historical Perspectives on Modern sense of its scope, and to lay the Economics foundations for future research. The 2005 228 x 152 mm 400pp volume also extends a genuine 2 line diagrams invitation to participate in the exciting 0 521 85247 1 Hardback c. £40.00 task of building an empirically grounded Publication August 2005 economic theory.’ Johann Peter Murmann, Kellogg School of Management, Northwestern University

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William Stanley Jevons Wassily Leontief and Contents: 1. Introduction; 2. Causal and noncausal models; 3. Microeconomic data and the Making of Input-Output structures; 4. Linear models; 5. ML and NLS Modern Economics Economics estimation; 6. GMM and systems Harro Maas Edited by Erik Dietzenbacher estimation; 7. Hypothesis tests; Universiteit van Amsterdam Rijksuniversiteit Groningen, The Netherlands 8. Specification tests and model selection; The Victorian polymath William Stanley and Michael L. Lahr 9. Semiparametric methods; 10. Numerical Jevons (1835–82) is generally and Rutgers University, New Jersey optimization; 11. Bootstrap methods; Wassily Leontief was the founding 12. Simulation-based methods; rightly venerated as one of the great 13. Bayesian methods; 14. Binary outcome innovators of economic theory and father of input-output economics, for models; 15. Multinomial models; 16. Tobit method. This book is an investigation which he received the Nobel Prize in and selection models; 17. Transition data: into the cultural and intellectual 1973. This book offers a collection of survival analysis; 18. Mixture models and resources that Jevons drew upon to papers in memory of Leontief by his unobserved heterogeneity; 19. Models of revolutionize research methods in students and close colleagues. The first multiple hazards; 20. Models of count data; economics. part focuses upon Leontief as a person 21. Linear panel models: basics; 22. Linear Historical Perspectives on Modern and scholar as well as his personal panel models: extensions; 23. Nonlinear Economics contributions to economics, the second panel models; 24. Stratified and clustered 2005 228 x 152 mm 368pp includes new theoretical and empirical samples; 25. Treatment evaluation; 26. Measurement error models; 27. Missing 30 line diagrams research inspired by Leontief’s work. 0 521 82712 4 Hardback c. £45.00 data and imputation; A. Asymptotic theory; Publication May 2005 Contributors: Paul A. Samuelson, B. Making pseudo-random draw. Karen R. Polenske, Faye Duchin, Emilio 2005 253 x 177 mm 1000pp T. R. Malthus Fontela, Henri Aujac, Jean H. P. Paelinck, 43 line diagrams 101 tables William H. Miernyk, Andrew Brody, 0 521 84805 9 Hardback c. £45.00 The Unpublished Papers in the Publication May 2005 Collection of Kanto Gakuen Anne P. Carter, Christian deBresson, University Thijs ten Raa, Edward N. Wolff, Erik Volume 2 Dietzenbacher, Michael L. Lahr, Bart Los, A Concise Introduction Edited by John Pullen Robert E. Kuenne, Iwao Ozaki, Masahiro to Econometrics University of New England, Australia Kuroda, Koji Nomura, Shuntaro Shishido, An Intuitive Guide and Trevor Hughes Parry Lawrence R. Klein, Vijaya Duggal, Philip Hans Franses Kanto Gakuen University, Japan Cynthia Saltzman, Clopper Almon, Erasmus Universiteit Rotterdam A previously unpublished collection of Maurizio Grassini, Albert E. Steenge Assuming only basic familiarity with manuscripts by or relating to T. R. 2004 228 x 152 mm 418pp matrix algebra and calculus the book is 61 line diagrams 42 tables Malthus. 0 521 83238 1 Hardback £55.00 an ideal introduction for students of 2004 228 x 152 mm 360pp 18 tables econometrics. Focusing on a limited 1 graph 1 map number of the most widely used 0 521 58871 5 Hardback £60.00 methods, the book reviews the basics of Econometrics econometrics and ends with seven case Prices, Reproduction, studies drawn from recent empirical work. Scarcity HIGHLIGHT 2002 216 x 138 mm 130pp Christian Bidard GRADUATE TEXTBOOK 5 line diagrams 5 tables Université de Paris X 0 521 81769 2 Hardback £37.50 Christian Bidard revives the accents of Microeconometrics 0 521 52090 8 Paperback £13.99 classical theory to look at the theory of Methods and Applications long-run competitive prices. This A. Colin Cameron University of California, Davis definitive and exhaustive book is an up-to-date version of Prix, and Pravin Trivedi Indiana University, Bloomington Reproduction, Rareté (Dunod, 1991) and aims to provide an essential Modern statistical analysis of economics reference on this topic. data consists of microeconometrics 2004 228 x 152 mm 372pp (cross-section data and panel data 30 line diagrams 8 tables analysis), macroeconometrics (time 0 521 47283 0 Hardback £55.00 series analysis), and financial econometrics. This book deals with methods and models of microeconometrics, the statistical modeling of behavioral relationships based on data from sample surveys or actual or quasi-social experiments. The book is oriented to the graduate student and researcher using such data. The level of the book is post-first year PhD economics. Econometrics 5

Modeling Aggregate TEXTBOOK The Structural Behavior and Econometric Econometric Time Fluctuations in Foundations Series Analysis Economics Ron C. Mittelhammer Approach Stochastic Views of Interacting Washington State University Edited by Arnold Zellner Agents George G. Judge University of Chicago Masanao Aoki University of California, Berkeley and Franz C. Palm University of California, Los Angeles and Douglas J. Miller Universiteit Maastricht, Netherlands This book analyzes how a large but Purdue University, Indiana This book assembles previously finite number of agents interact, and This course provides a complete published texts in the theory and what sorts of macroeconomic statistical working knowledge of a rich set of application of the Structural regularities or patterns may evolve from estimation and inference tools that can Econometric Time Series Analysis these interactions. By keeping the be used in conjunction with the (SEMTSA) approach. It provides a timely number of agents finite, the book computer to address economic discussion of major considerations examines situations such as fluctuations problems. The accompanying CD-ROM relating to the construction of about equilibria, multiple equilibria and offers further reading, manuals, econometric models that work well to asymmetrical cycles of models which are software, and solutions. An electronic explain economic phenomena, predict caused by model states stochastically tutorial is available separately. future outcomes and be useful for moving from one basin of attraction to Contents: Part I. Information Processing policy-making. another. The book also discusses how Recovery; Part II. Regression 2004 228 x 152 mm 734pp 140 tables agents may form clusters with 72 figures Model-estimation and Inference; 0 521 81407 3 Hardback £100.00 stationary distributions of cluster sizes. Part III. Extremum Estimators and These have important applications in Nonlinear and Nonnormal Regression analyzing volatilities of asset returns. Models; Part IV.Avoiding the NEW SERIES 2004 228 x 152 mm 280pp Parametric Likelihood; 0 521 60619 5 Paperback £19.99 Econometric Exercises Part V. Generalized Regression Models; Series Editors: Karim Abadir Part VI. Simultaneous Equation University of York, United Kingdom FORTHCOMING Probability Models and General Jan Magnus Identification and Moment-Based Estimation and Tilberg University, The Netherlands Inference; Part VII. Model Discovery; Peter C. B. Phillips Inference for Part VIII. Special Econometric Topics; The volumes in Econometric Exercises Econometric Models Part IX. Bayesian Estimation and are intended to be much more than a Essays in Honor of Thomas Inference; Part X. Epilogue; Appendix. collection of solved exercises. Each Rothenberg 2000 228 x 152 mm 784pp Edited by Donald W. K. Andrews 5 line diagrams 32 tables volume has coherent and well- Yale University, Connecticut 0 521 62394 4 Pack with CD-ROM £55.00 organized sequence of exercises in a and James H. Stock specific field or sub-field of Harvard University, Massachusetts econometrics. Solved exercises are TEXTBOOK This collection of articles by many assembled together in a structured and leading econometricians pushes forward Non-Linear Time Series logical pedagogical framework that the research frontier in four areas of Models in Empirical seeks to develop the subject matter of theoretical econometrics. The first part Finance the field from its foundations up. Each chapter of a volume begins with a of the volume addresses fundamental Philip Hans Franses questions of the relationship between Erasmus Universiteit Rotterdam short technical introduction that emphasizes the main ideas and economic models and econometric and Dick van Dijk inference, and focuses on when Erasmus Universiteit Rotterdam overviews the most relevant theorems and results. The introductions are empirical information can be brought to Contents: 1. Introduction; 2. Some bear on economic models. The concepts in Time Series analysis; followed by a sequential development remaining three parts address 3. Regime-switching models for returns; of the material by solved examples and approximations to the distributions of 4. Regime-Switching models for Volatility; applications, and computer exercises econometric estimators, empirical 5. Artificial neural networks for returns; where they are appropriate. Each analysis of time series data that is 6. Conclusion. volume is self-contained, has a full highly persistent (like interest rates), and 2000 247 x 174 mm 296pp 51 tables index, includes cross-reference to other 44 figures volumes in the series, and aims for a econometric inference when one puts as 0 521 77965 0 Paperback £22.99 little structure as possible on secondary balance of about 15-20% theory and aspects of the econometric model. 80-85% exercise. They are intended for 2005 228 x 152 mm 800pp undergraduate students of econometrics 47 line diagrams 70 tables with an introductory knowledge of 0 521 84441 X Hardback c. £45.00 statistics, for first and second year Publication June 2005 graduate students of econometrics, and for students and instructors from neighboring disciplines (like statistics, political science, psychology and communication) with interests in econometric methods. The volumes increase in difficulty as the topics become more specialized.

Visit our website at www.cambridge.org 6 Econometrics

FORTHCOMING TEXTBOOK NEW NEW Matrix Algebra Statistics, Introduction to the Karim M. Abadir Econometrics and Mathematical and University of York Forecasting Statistical Foundations and Jan Magnus Arnold Zellner of Econometrics Matrix Algebra is the first volume of the University of Chicago Herman J. Bierens Econometric Exercises Series. It contains This book is based on two lectures Pennsylvania State University exercises relating to course material in given as part of The Stone Lectures in This book is intended to be used in a matrix algebra that students are expected Economics. The first part of the book first-semester PhD level course in to know while enrolled in an (advanced) deals with the broader issues involved econometrics. However, because it undergraduate or a postgraduate course in Stone’s and others’ work in statistics, contains much advanced material, it is in econometrics or statistics. The book econometrics and forecasting and also suitable for a field course in contains a comprehensive collection of describes the paradigm shift back to the econometric theory. The focus of this exercises, all with full answers. The Bayesian approach to scientific book is on understanding why rather volume can be used either as a self- inference. The latter deals in more detail than how the mathematical and contained course in matrix algebra or as a with the structural econometric time statistical foundations of econometrics supplementary text. series analysis (SEMTSA) approach to are established. Therefore, the text Contents: 1. Vectors; 2. Matrices; 3. Vector statistical and econometric modeling. provides all the proofs, or motivations spaces; 4. Rank, inverse, and determinant; Written by one of the foremost where proofs are too complicated, of 5. Partitioned matrices; 6. Systems of practitioners of econometrics, this book equations; 7. Eigenvalues, eigenvectors, and the mathematical and statistical results will have wide academic and factorizations; 8. Positive (semi)definite and necessary for understanding modern idempotent matrices; 9. Matrix functions; professional appeal. econometric theory. In this respect it 10. Kronecker product, vec-operator, and The Stone Lectures in Economics differs from all other econometrics Moore-Penrose inverse; 11. Patterned 2004 216 x 138 mm 182pp textbooks. 9 line diagrams 13 tables matrices, commutation and duplication Themes in Modern Econometrics 0 521 83287 X Hardback £45.00 matrix; 12. Matrix inequalities; 13. Matrix 0 521 54044 5 Paperback £16.95 2005 228 x 152 mm 344pp calculus. 19 line diagrams 12 tables Econometric Exercises, 1 0 521 83431 7 Hardback £50.00 2005 228 x 152 mm 485pp Themes in Modern 0 521 54224 3 Paperback £22.99 9 line diagrams Publication February 2005 0 521 82289 0 Hardback c. £40.00 Econometrics 0 521 53746 0 Paperback c. £16.99 Series Editors: Peter C. B. Phillips Publication June 2005 Yale University NEW Christian Gourieroux Applied Time Series The Stone Lectures in CREST and CEPREMAP, Paris Econometrics Michael Wickens Economics Edited by Helmut Lütkepohl Themes in Modern Econometrics European University Institute, Florence Series Editor: Dr Martin Weale, CBE provides an organized sequence of National Institute of Economic & Social Research and Markus Krätzig textbooks in econometrics aimed Humboldt-Universität zu Berlin The Stone Lectures in Economics is an directly at the student population, and Time series econometrics is used for annual series of presentations by the is the first series in the discipline to example for predicting future world’s leading academic economists, have this as its express aim. Written at developments of variables of interest jointly organised by the National Institute a level accessible to students with an such as economic growth, stock market of Economic and Social Research and introductory course in econometrics volatility or interest rates. For this Cambridge University Press. Sir Richard behind them, each book addresses purpose a model has to be constructed Stone (1913-1991) was awarded the topics or themes that students and to describe the data generation process Nobel Prize in Economics in 1984 for his researchers encounter daily. While each and its parameters have to be work on the development of systems of book is able to stand alone as an estimated. Modern tools for these tasks national accounts. Much of this work authoritative survey in its own right, the are provided in this volume and it is was published jointly by the Department distinct emphasis throughout is on demonstrated by example how the tools of Applied Economics in Cambridge and pedagogic excellence. can be put to work. the National Institute of Economic and Themes in Modern Econometrics Social Research. The first volume 2004 228 x 152 mm 350pp published contained his estimates of 69 line diagrams 38 tables consumer spending and, equally 0 521 83919 X Hardback £48.00 importantly, a statistical analysis of 0 521 54787 3 Paperback £21.99 consumer behaviour. In his Preface Sir Richard acknowledged the financial support of the National Institute and its role in his work: “The detailed investigation of consumers’ expenditure … was begun at the National Institute of Economic and Social Research in 1941”. It is with this in mind that the National Institute and Cambridge University Press are proud to name this lecture series after Sir Richard Stone. Econometrics 7

Semiparametric TEXTBOOK FORTHCOMING Regression for the Unit Roots, Population Issues in Applied Cointegration, and Social Choice Theory, Econometrician Structural Change Welfare Economics, Adonis Yatchew G. S. Maddala University of Toronto and Ethics and In-Moo Kim Charles Blackorby This book provides simple and flexible Sung Kyun Kwan University, Seoul University of Warwick (nonparametric) techniques for A comprehensive review of unit roots, Walter Bossert analyzing regression data. cointegration and structural change Université de Montréal Themes in Modern Econometrics from a best-selling author. and David J. Donaldson 2003 228 x 152 mm 234pp University of British Columbia, Vancouver 30 line diagrams 22 tables Themes in Modern Econometrics 0 521 81283 6 Hardback £50.00 1999 228 x 152 mm 523pp 21 tables This book presents an exploration of the 0 521 01226 0 Paperback £18.99 8 graphs idea of the common or social good, 0 521 58782 4 Paperback £24.99 extended so that alternatives with different populations can be ranked. TEXTBOOK Econometric Society Principles that rank alternatives are The Econometric Monographs called population principles. They make it possible to rank alternative histories Analysis of Seasonal Series Editors: Andrew Chesher Time Series University College London of the world, such as those that arise in environmental discussions, according to Eric Ghysels Matthew Jackson University of North Carolina, Chapel Hill California Institute of Technology their goodness. In addition to examinations of the various principles, and Denise R. Osborn The Econometric Society Monographs optimal processes are also discussed University of Manchester series is designed to promote the and applications to population policies Contents: 1. Introduction to seasonal publication of original research are investigated. processes; 2. Deterministic seasonality; contributions of high quality in economic 3. Seasonal unit root processes; 4. Seasonal Econometric Society Monographs theory and theoretical and applied 2005 228 x 152 mm 400pp adjustment programs; 5. Estimation and econometrics. hypothesis testing with filtered data; 20 line diagrams 32 tables 6. Periodic processes; 7. Some nonlinear 0 521 82551 2 Hardback c. £50.00 0 521 53258 2 Paperback c. £22.99 seasonal models; 8. Epilogue. NEW Publication August 2005 Themes in Modern Econometrics 2001 228 x 152 mm 250pp Quantile Regression 15 line diagrams 2 tables Roger Koenker Advances in Economics 0 521 56260 0 Hardback £50.00 University of Illinois, Urbana-Champaign 0 521 56588 X Paperback £19.99 and Econometrics: Quantile regression is gradually Theory and emerging as a unified statistical TEXTBOOK methodology for estimating models of Applications Eighth World Congress Econometrics of conditional quantile functions. This monograph is the first comprehensive Edited by Mathias Dewatripont Université Libre de Bruxelles Qualitative Dependent treatment of the subject, encompassing Variables Lars Peter Hansen models that are linear and nonlinear, University of Chicago Christian Gourieroux parametric and nonparametric. The CREST-INSEE, Paris and Stephen J. Turnovsky author has devoted more than 25 years University of Washington Translated by Paul B. Klassen of research to this topic. The methods in This is a set of three volumes containing This textbook introduces students to the analysis are illustrated with a variety edited versions of papers and qualitative econometric models and of applications from economics, biology, commentaries presented in invited assumes a basic knowledge of ecology and finance. The treatment will symposium sessions of the Eighth World econometrics/statistics. find its core audiences in econometrics, Congress of the Econometric Society. statistics, and applied mathematics in Contents: 1. Introduction; 2. The simple The papers summarize and interpret addition to the disciplines cited above. dichotomy; 3. Modelling; 4. Estimation recent key developments and discuss methods and tests; 5. The log-linear model Econometric Society Monographs future directions in a wide range of and its applications; 6. Qualitative panel 2005 228 x 152 mm 368pp data; 7. The Tobit model; 8. Models of 63 line diagrams 13 tables 20 exercises topics in economics and econometrics. market disequilibrium; 9. Truncated 0 521 84573 4 Hardback c. £45.00 Econometric Society Monographs variables in simultaneous equations; 0 521 60827 9 Paperback c. £19.99 2003 228 x 152 mm 1088pp Publication May 2005 0 521 81875 3 3 Volume Set (Hardback) 10. Simultaneous equation systems; £170.00 11. The Poisson model; 12. Models of 0 521 52414 8 3 Volume Set (Paperback) duration. £60.00 Themes in Modern Econometrics 2000 228 x 152 mm 384pp Volume 1 28 line diagrams 5 tables Edited by Mathias Dewatripont 0 521 33149 8 Hardback £60.00 Lars Peter Hansen 0 521 58985 1 Paperback £21.99 and Stephen J. Turnovsky 2003 228 x 152 mm 392pp 30 line diagrams 0 521 81872 9 Hardback £65.00 0 521 52411 3 Paperback £21.99

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Volume 2 Econometric Society Monographs, 32 Edited by Mathias Dewatripont 2001 228 x 152 mm 544pp Mathematical Lars Peter Hansen 33 line diagrams 76 tables and Stephen J. Turnovsky 0 521 77297 4 Hardback £80.00 Methods and 2003 228 x 152 mm 384pp 0 521 77496 9 Paperback £30.00 20 line diagrams 10 tables Programming 0 521 81873 7 Hardback £65.00 0 521 52412 1 Paperback £21.99 NOBEL PRIZE WINNER Volume 3 Essays in Econometrics HIGHLIGHT Edited by Mathias Dewatripont Collected Papers of Clive W. J. NEW GRADUATE TEXTBOOK Lars Peter Hansen Granger and Stephen J. Turnovsky Volume 2: Causality, Integration and Applied Choice 2003 228 x 152 mm 308pp Cointegration, and Long Memory Analysis 25 line diagrams 5 tables 0 521 81874 5 Hardback £65.00 Edited by Eric Ghysels A Primer 0 521 52413 X Paperback £21.99 University of North Carolina, Chapel Hill David A. Hensher Norman R. Swanson University of Sydney Rutgers University, New Jersey John M. Rose THREE VOLUME SET and Mark W. Watson University of Sydney Edited by Mathias Dewatripont Princeton University, New Jersey and William H. Greene Lars Peter Hansen New York University and Stephen J. Turnovsky These essays by Clive W. J. Granger span 2003 228 x 152 mm 1088pp more than four decades and cover Almost without exception, everything 0 521 81875 3 3 Volume Set (Hardback) major topics in causality, integration, human beings undertake involves a £170.00 cointegration, and long memory. The choice. In recent years there has been a 0 521 52414 8 3 Volume Set (Paperback) introduction by Eric Gysels, Norman R. growing interest in the development £60.00 Swanson, and Mark W. Watson places and application of quantitative the essays in context and demonstrates statistical methods to study choices SECOND EDITION their enduring value. made by individuals with the purpose of Econometric Society Monographs, 33 gaining a better understanding both of Analysis of Panel Data 2001 228 x 152 mm 396pp how choices are made and of Second edition 44 line diagrams 49 tables forecasting future choice responses. In Cheng Hsiao 0 521 79207 X Hardback £80.00 this primer the authors provide an 0 521 79649 0 Paperback £30.00 University of Southern California unintimidating introduction to the main This second edition is a substantial techniques of choice analysis and revision of the highly successful first TWO VOLUME SET include detail on themes such as data edition of 1986. The thorough collection and preparation, model discussion of theory and the judicious Essays in Econometrics Collected Papers of Clive W. J. estimation and interpretation and the use of empirical examples make this Granger design of choice experiments. A book useful to graduate students and Edited by Eric Ghysels companion website to the book advanced researchers in economics, University of North Carolina, Chapel Hill provides practice data sets and software business, sociology, political science, etc. Norman R. Swanson to estimate the main discrete choice Econometric Society Monographs, 34 Texas A & M University models such as multinomial logit, 2003 228 x 152 mm 382pp nested logit and mixed logit. This primer 16 line diagrams 33 tables and Mark Watson 0 521 81855 9 Hardback £65.00 Princeton University, New Jersey will be an invaluable resource to 0 521 52271 4 Paperback £22.99 These essays by Clive W. J. Granger, students as well as of immense value to span more than four decades and consultants and professionals, researchers and anyone else interested NOBEL PRIZE WINNER explore topics in spectral analysis, seasonality, nonlinearity, methodology, in choice analysis and modelling. Essays in Econometrics forecasting, causality, integration and • The first book to help individuals new Collected Papers of Clive W. J. cointegration, and long memory. The to the theory and practice of choice Granger introduction places the essays in context analysis Volume 1: Spectral Analysis, Seasonality, and demonstrates their enduring value. • Data and statistical software available Nonlinearity, Methodology, and Econometric Society Monographs Forecasting to apply all the modeling and data 2001 228 x 152 mm 944pp skills presented in the book Edited by Eric Ghysels 77 line diagrams 125 tables University of North Carolina, Chapel Hill 0 521 80407 8 2 Volume Hardback Set • The book and software is ready made Norman R. Swanson £150.00 for undergraduate and post graduate Texas A & M University 0 521 79697 0 2 Volume Paperback Set courses as well as short courses and £55.00 and Mark W. Watson is portable throughout the world Princeton University, New Jersey ‘I cannot imagine a better introduction These essays by Clive W. J. Granger span to choice modeling. The authors more than four decades and cover manage to bring a vivid, storytelling major topics in spectral analysis, voice to this complex topic, with seasonality, nonlinearity, methodology, language that has personality and rhythm. The various interrelated and forecasting. The introduction by Eric concepts and procedures that Gysels, Norman R. Swanson and Mark constitute choice modeling come W. Watson places the essays in context across as simple and straightforward. and demonstrates their enduring value. An amazing feat. The ins-and-outs of a computer code are also taught along Mathematical Methods and Programming 9 with the statistical methods. This NEW GRADUATE TEXTBOOK NEW IN PAPERBACK integration of computer language within the text is unusual and highly Foundations of Modeling Aggregate valuable, giving readers all the steps Dynamic Economic Behavior and that are needed to implement the methods on their own data.’ Analysis Fluctuations in Kenneth Train, Adjunct Professor, Department of Optimal Control Theory and Economics Economics, University of California, Berkeley Applications Stochastic Views of Interacting ‘With all knowledge, the fundamental Michael R. Caputo Agents concepts constitute the most University of Central Florida Masanao Aoki important part of learning. Hensher et Foundations of Dynamic Economic University of California, Los Angeles al. have taken this to heart and done a Analysis presents an introductory but How do a large but finite number of superb job here in explaining the thorough exposition of optimal control trickiest of discrete choice survey and agents interact, and, consequently, what analysis concepts in a simple, elegant, theory. It is aimed at first-year and macroeconomic statistical regularities or and intuitive fashion. This book, second-year PhD students in economics, patterns may evolve? The book written by leading authorities in the agricultural and resource economics, examines situations (e.g. fluctuations discrete choice field, is required operations research, management about equilibria, multiple equilibria and reading not only for beginners, but science, and applied mathematics. It asymmetrical cycles of models) which also for those experienced researchers differs from the existing textbooks on are caused by model states who would like to clarify basic the subject due to its emphasis on the concepts. It is a much-needed and stochastically moving from one basis of economic interpretation of the welcome addition to a field that is attraction to another. seeing a literal revolution in the mathematics and the qualitative 2004 228 x 152 mm 280pp analyst’s ability to incorporate and properties of the solutions. Moreover, it 0 521 60619 5 Paperback £19.99 estimate realistic behavioral structures. is a modern exposition of optimal The book holds the hands of readers control theory in that it presents FORTHCOMING and walks them through the new numerous complementary methods not developments in the field. Let it not be present in any other textbook of its The Geometry of said any more that the recent type. advances in discrete choice analysis Efficient Fair Division are beyond the reach of all but the Contents: 1. Essential elements of Julius B. Barbanel nerdiest of researchers!’ continuous time dynamic optimization; Union College, New York Chandra Bhat, University of Texas, Austin 2. Necessary conditions for a simplified The author focuses exclusively on control problem; 3. Concavity and Contents: Preface; 1. In the beginning; abstract existence results, rather than sufficiency in optimal control problems; 2. Basic notations of statistics; 3. Choosing; algorithms, and on the geometric 4. Paradigms of choice data; 5. Processes in 4. The maximum principle and economic interpretations; 5. Linear optimal control objects that arise naturally in this setting up stated choice experiments; context. By examining the shape of 6. Choices in data collection; 7. Nlogit for problems; 6. Necessary and sufficient these objects and the relationship applied choice analysis: a primer; conditions for a general class of control 8. Handling choice data; 9. Case study: problems; 7. Necessary and sufficient between them, he demonstrates several model choice data; 10. Getting started conditions for isoperimetric problems; results concerning efficiency properties modelling: the workhorse – MNL; 8. Economic characterization of reciprocal such as Pareto maximality and fairness 11. Getting more from your model; isoperimetric problems; 9. The dynamic properties such as envy-freeness for 12. Practical issues in the application of envelope theorem and economic partitions. interpretations; 10. The dynamic envelope choice models; 13. Allowing for similarity of 2005 228 x 152 mm 472pp alternatives; 14. Nested logit estimation; theorem and transversality conditions; 73 line diagrams 15. The mixed logit model; 16. Mixed logit 11. Comparative dynamics via envelope 0 521 84248 4 Hardback £55.00 estimation; Nlogit terms and commands; methods; 12. Discounting, current values, Publication March 2005 References; Index. and time consistency; 13. Local stability and phase portraits of autonomous differential 2005 247 x 174 mm 650pp 108 tables GRADUATE TEXTBOOK 158 figures equations; 14. Necessary and sufficient 0 521 84426 6 Hardback £70.00 conditions for infinite horizon control C++ Design Patterns 0 521 60577 6 Paperback £35.00 problems; 15. The neoclassical optimal Publication April 2005 economic growth model; 16. A dynamic and Derivatives Pricing limit pricing model of the firm; 17. The Mark S. Joshi adjustment cost model of the firm; Royal Bank of Scotland 18. Qualitative properties of infinite horizon Contents: Preface; 1. A simple Monte Carlo optimal control problems with one state model; 2. Encapsulation; 3. Inheritance and variable and one control variable; virtual functions; 4. Bridging with a virtual 19. Dynamic programming and the constructor; 5. Strategies, decoration and Hamilton-Jacobi-Bellman equation; statistics; 6. A random numbers class; 7. An 20. Intertemporal duality in the adjustment exotics engine and the template pattern; cost model of the firm. 8. Trees; 9. Solvers, templates and implied 2005 234 x 156 mm 592pp vols; 10. The factory; 11. Design patterns 47 line diagrams 1 table revisited; Appendix A. Black-Scholes 0 521 84272 7 Hardback £60.00 formulas; Appendix B. Distribution 0 521 60368 4 Paperback £29.00 Publication March 2005 functions; Appendix C. A simple array class; Appendix D. The code; Bibliography. Mathematics, Finance and Risk, 2 2004 247 x 174 mm 214pp 38 exercises 0 521 83235 7 Hardback £35.00

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Measure Theory and FORTHCOMING TEXTBOOK GRADUATE TEXTBOOK Filtering Probability and Semiparametric Introduction and Applications Statistics by Example Regression Lakhdar Aggoun Sultan Qaboos University, Oman Volume 1: Basic Probability and Statistics David Ruppert Cornell University, New York and Robert J. Elliott Yuri Suhov University of Calgary University of Cambridge M. P. Wand University of New South Wales, Sydney Provides an accessible introduction to and Michael Kelbert University of Wales, Swansea and R. J. Carroll measure theory and stochastic calculus, Texas A & M University and develops into an excellent users’ The emphasis of this book is how to This user-friendly book explains the guide to filtering. A complete resource construct simple and reasonable models techniques and benefits of for engineers, or anyone with an rather than developing a superficial semiparametric regression in a concise interest in implementation of filtering knowledge of sophisticated theories. To and modular fashion. techniques. Three chapters concentrate make it of broad value, the authors on applications from finance, genetics supply basic mathematical facts as and Contents: 1. Introduction; 2. Parametric and population modelling. Also includes when they are needed, and have regression; 3. Scatterplot smoothing; 4. Mixed models; 5. Automatic scatterplot exercises. sprinkled some historical information throughout the text. smoothing; 6. Inference; 7. Simple Cambridge Series in Statistical and semiparametric models; 8. Additive models; Probabilistic Mathematics, 15 Contents: Introduction; Part A. Probability: 9. Semiparametric mixed models; 2004 253 x 177 mm 268pp 10 tables A1. Discrete outcomes; A2. Continuous 10. Generalized parametric regression; 95 exercises outcomes; A3. Index of problems for Part A; 0 521 83803 7 Hardback £45.00 11. Generalized additive models; Part B. Statistics: B1. Parameter estimation; 12. Interaction models; 13. Bivariate B2. Hypothesis testing; B3. Tripos exam smoothing; 14. Variance function Insurance Risk and questions in IB statistics (1992–2004); estimation; 15. Measurement error; Tables of random variables and probability Ruin 16. Bayesian semiparametric regression; distributions; Glossary. 17. Spatially adaptive smoothing; David C. M. Dickson 2005 247 x 174 mm 500pp 18. Analyses; 19. Epilogue; A. Technical University of Melbourne 43 line diagrams 2 tables 43 figures complements; B. Computational issues. The book is ideal for a first course in 0 521 84766 4 Hardback c. £60.00 0 521 61233 0 Paperback c. £28.00 Cambridge Series in Statistical and insurance risk theory. It focuses on Publication August 2005 Probabilistic Mathematics, 12 major areas in this subject – aggregate 2003 253 x 177 mm 402pp claims distributions, ruin theory, utility 80 line diagrams 2 colour plates TEXTBOOK 0 521 78050 0 Hardback £70.00 theory, premium calculation principles 0 521 78516 2 Paperback £30.00 and reinsurance problems. Numerous Statistical Models worked examples are included and each A. C. Davison chapter has exercises for which outline Swiss Federal Institute of Technology, Lausanne TEXTBOOK solutions are provided. An unrivalled survey of the methods in Principles of International Series on Actuarial Science modern statistics and data analysis. 2005 228 x 152 mm 242pp Constraint 50 line diagrams 95 exercises 40 figures Contents: Preface; 1. Introduction; Programming 0 521 84640 4 Hardback £35.00 2. Variation; 3. Uncertainty; 4. Likelihood; Krzysztof Apt 5. Models; 6. Stochastic models; Centrum voor Wiskunde en Informatica, 7. Estimation and hypothesis testing; Amsterdam GRADUATE TEXTBOOK 8. Linear regression models; 9. Designed Upper-division textbook covering Convex Optimization experiments; 10. Nonlinear regression models; 11. Bayesian models; foundations of constraint programming Stephen Boyd 12. Conditional and marginal inference; and applications to scheduling, Stanford University, California Bibliography; References. optimization etc. and Lieven Vandenberghe Cambridge Series in Statistical and Contents: 1. Introduction; 2. Constraint University of California, Los Angeles Probabilistic Mathematics, 11 satisfaction problems: Examples; A comprehensive introduction to the 2003 254 x 178 mm 736pp 3. Constraint programming in a nutshell; tools, techniques, and applications of 133 line diagrams 119 tables 566 exercises 4. Some complete constraint solvers; 0 521 77339 3 Hardback £40.00 convex optimization. 5. Local consistency notions; 6. Some Contents: Preface; 1. Introduction; incomplete constraint solvers; 7. Constraint Part I. Theory: 2. Convex sets; 3. Convex propagation algorithms; 8. Search; functions; 4. Convex optimization problems; 9. General programming issues; 5. Duality; Part II. Applications: Bibliography; Index. 6. Approximation and fitting; 7. Statistical 2003 247 x 174 mm 420pp 60 exercises estimation; 8. Geometrical problems; 76 figures 0 521 82583 0 Hardback £35.00 Part III. Algorithms: 9. Unconstrained minimization; 10. Equality constrained minimization; 11. Interior-point methods; Appendices. 2004 246 x 189 mm 730pp 337 exercises 178 figures 0 521 83378 7 Hardback £45.00 Mathematical Methods and Programming 11

GRADUATE TEXTBOOK GRADUATE TEXTBOOK TEXTBOOK Discrete Choice A User’s Guide to An Introduction to Methods with Measure Theoretic Economic Dynamics Simulation Probability Ronald Shone Kenneth E. Train David Pollard University of Stirling University of California, Berkeley Yale University, Connecticut An examples-driven treatment Contents: 1. Introduction: Part I. A secure starting point for anyone who of introductory economic dynamics for Behavioral Models: 2. Properties; needs to invoke rigorous probabilistic students with a basic familiarity of 3. Logit; 4. GEV; arguments and understand what they spreadsheets. 5. Probit; 6. Mixed logit; 7. Variations on a mean. Contents: Preface; 1. Introduction; theme; Part II. Esitmation: 8. Numerical Contents: 1. Motivation; 2. A modicum of 2. Demand and supply dynamics; 3. Simple maximization; 9. Drawing from densities; Keynesian dynamics; 4. Constructing 10. Simulation-assisted estimation; measure theory; 3. Densities and derivatives; 4. Product spaces and trajectories in the phase plane; 5. IS-LM 11. Individual-level parameters; dynamics; 6. Inflation-unemployment 12. Bayesian procedures. independence; 5. Conditioning; 6. Martingale et al; 7. Convergence in dynamics; 7. Dynamics of the firm; ‘A must have, must read book for distribution; 8. Fourier transforms; 8. Saddles and rational expectations; academics and practitioners interested 9. Brownian motion; 10. Representations 9. Fiscal dynamics and the Maastricht in understanding, modelling and and couplings; 11. Exponential tails and the Treaty; 10. A little bit of chaos; Brief predicting decision-making and choice law of the iterated logarithm; answers to selected exercises; Further behavior. As we have come to expect 12. Multivariate normal distributions; reading. from Ken, his new book makes very 2001 247 x 174 mm 236pp 5 half-tones complex topics accessible to a wide Appendix A. Measures and integrals; Appendix B. Hilbert spaces; Appendix C. 3 tables 121 figures audience. The book covers the basics 0 521 80034 X Hardback £55.00 Convexity; Appendix D. Binomial and through to leading-edge thought and 0 521 80478 7 Paperback £19.99 work in complex model systems using normal distributions; Appendix E. Bayesian and simulation estimation Martingales in continuous time; Appendix F. methods. But wait there’s more! There’s Generalized sequences. TEXTBOOK ‘Ken the movie’! You also can watch and Cambridge Series in Statistical and listen to Ken’s lectures on each topic via Probabilistic Mathematics, 8 Weighing the Odds his UC Berkeley website and access his 2002 253 x 177 mm 366pp 200 exercises A Course in Probability and lecture notes. An unbeatable package 0 521 80242 3 Hardback £60.00 Statistics 0 521 00289 3 Paperback £20.99 for serious students that sets a new David Williams standard in educational communication University of Wales, Swansea for the field of probabilistic discrete TEXTBOOK Advanced textbook; many examples and choice modelling.’ exercises, often with hints or solutions; Jordan Louviere, University of Technology, Nonlinear Dynamics code provided for computational Sydney, Australia A Primer examples and simulations. 2003 228 x 152 mm 342pp Alfredo Medio 44 line diagrams 13 tables Universita Ca’Foscari, Venezia Contents: Preface; 1. Introduction; 0 521 81696 3 Hardback £65.00 2. Events and probabilities; 3. Random and Marji Lines 0 521 01715 7 Paperback £23.99 variables, means and variances; Università degli Studi di Udine, Italy 4. Conditioning and independence; An advanced undergraduate and 5. Generating functions and the central GRADUATE TEXTBOOK graduate textbook on the theory of limit theorem; 6. Confidence intervals for Economic Dynamics nonlinear dynamical systems. 1-parameter models; 7. Conditional pdfs Phase Diagrams and their Contents: 1. Statics and dynamics: some and multi-parameter Bayesian statistics; Economic Application elementary concepts; 2. Review of linear 8. Linear models, ANOVA etc; 9. Some Second edition systems; 3. Stability of fixed points; further probability; 10. Quantum probability and quantum computing; Appendix A. Some Ronald Shone 4. Invariant and attracting sets, periodic and prerequisites and addenda; Appendix B. University of Stirling quasiperiodic orbits; 5. Local bifurcations; 6. Chaotic sets and chaotic attractors; Discussion of some selected exercises; The substantially revised and 7. Characteristic exponents, fractals, Appendix C. Tables; Appendix D. A small restructured 2nd edition of Ron Shone’s homoclinic orbits; 8. Transition to chaos; sample of the literature; Bibliography; successful textbook Economic Dynamics. 9. The ergodic approach; 10. Deterministic Index. Contents: Part I: 1. Introduction; systems and stochastic processes. 2001 247 x 174 mm 566pp 35 tables 225 exercises 45 figures 2. Continuous dynamic systems; 3. Discrete 2001 247 x 174 mm 314pp 80 figures 0 521 80356 X Hardback £75.00 dynamic systems; 4. Systems of first-order 0 521 55186 2 Hardback £70.00 0 521 00618 X Paperback £27.00 differential equations; 5. Discrete systems of 0 521 55874 3 Paperback £26.00 equations; 6. Optimal control theory; 7. Chaos theory; Part II: 8. Demand and supply models; 9. Dynamic theory of oligopoly; 10. Closed economy dynamics; 11. The dynamics of inflation and unemployment; 12. Open economy dynamics: sticky price models; 13. Open economy dynamics; 14. Population models; 15. The dynamics of fisheries. 2002 247 x 174 mm 722pp 245 figures 0 521 81684 X Hardback £95.00 0 521 01703 3 Paperback £38.00 Visit http://uk.cambridge.org/resources/05 21017033

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Data Envelopment Stochastic FORTHCOMING Analysis Optimization in Spatial Models of Theory and Techniques for Continuous Time Economics and Operations Parliamentary Voting Fwu-Ranq Chang Keith T. Poole Research Indiana University, Bloomington Subhash C. Ray University of Houston University of Connecticut This is a rigorous but user-friendly book This book presents a geometric voting on the application of stochastic control model for analyzing parliamentary roll This book deals with the method of theory to economics. A distinctive data envelopment analysis that uses call data. Each legislator is represented feature of the book is that by one point and each roll call is mathematical programming techniques mathematical concepts are introduced to obtain measures of efficiency of represented by two points that in a language and terminology familiar correspond to the policy consequences individual forms from their observed to graduate students of economics. input and output quantities. This permits of voting Yea or Nay. On every roll call 2004 228 x 152 mm 344pp each legislator votes for the closer setting up realistic input-output targets 8 line diagrams for the firms’ managers. 0 521 83406 6 Hardback £35.00 outcome point, at least probabilistically. 2004 228 x 152 mm 366pp These points form a spatial map that 48 line diagrams 49 tables summarizes the roll calls. These maps 0 521 80256 3 Hardback £50.00 State Space and can be used to study a wide variety of Unobserved topics related to legislative voting. GRADUATE TEXTBOOK Component Models Analytical Methods for Social Research Theory and Applications 2005 228 x 152 mm 255pp 62 line diagrams 8 tables Asymptotic Statistics Edited by Andrew Harvey A. W. van der Vaart 0 521 85194 7 Hardback c. £40.00 University of Cambridge 0 521 61747 2 Paperback c. £13.99 Vrije Universiteit, Amsterdam Siem Jan Koopman Publication June 2005 A mathematically rigorous, practical Vrije Universiteit, Amsterdam introduction presenting standard topics and Neil Shephard plus more recent research. University of Oxford Ecological Inference New Methodological Strategies Contents: 1. Introduction; 2. Stochastic This volume offers a broad overview of Edited by Gary King convergence; 3. The delta-method; the latest developments in the theory Harvard University, Massachusetts 4. Moment estimators; 5. M- and and applications of state space Ori Rosen Z-estimators; 6. Contiguity; 7. Local modeling. With contributions from asymptotic normality; 8. Efficiency of University of Pittsburgh renowned experts, it offers a unique and Martin A. Tanner estimators; 9. Limits of experiments; synthesis of state space methods and 10. Bayes procedures; 11. Projections; Northwestern University, Illinois unobserved component models, 12. U-statistics; 13. Rank, sign, and A diverse group of scholars surveys the important in a wide range of subjects, permutation statistics; 14. Relative latest strategies for solving ecological including economics, finance, medicine efficiency of tests; 15. Efficiency of tests; inference problems, drawing upon the and engineering. 16. Likelihood ratio tests; 17. Chi-square recent explosion of research in the field. 2004 247 x 174 mm 394pp 24 tables tests; 18. Stochastic convergence in metric The uncertainties and information lost in spaces; 19. Empirical processes; 20. The 71 figures functional delta-method; 21. Quantiles and 0 521 83595 X Hardback £30.00 aggregation make ecological inference order statistics; 22. L-statistics; 23. The one of the most difficult areas of statistical inference, but these inferences bootstrap; 24. Nonparametric density Analytical Methods for estimation; 25. Semiparametric models. are required in many academic fields, as Cambridge Series in Statistical and Social Research well as by legislatures and the Courts in Probabilistic Mathematics, 3 Series Editors: Professor R. Michael redistricting, marketing research by 2000 228 x 152 mm 460pp Alvarez business, and policy analysis by 14 line diagrams 8 tables 21 graphs California Institute of Technology governments. This wide-ranging 0 521 78450 6 Paperback £24.99 Professor Nathaniel L. Beck collection of essays offers many fresh New York University and important contributions to the TEXTBOOK Professor Lawrence L. Wu study of ecological inference. New York University Mathematical Methods Analytical Methods for Social Research Analytical Methods for Social 2004 253 x 177 mm 432pp and Models for Research presents texts on empirical 451 line diagrams 54 tables Economists and formal methods for the social 0 521 83513 5 Hardback £50.00 0 521 54280 4 Paperback £23.99 Angel de la Fuente sciences. Volumes in the series address A textbook for a first-year PhD course in both the theoretical underpinnings of mathematics for economists and a analytical techniques, as well as their reference for graduate students in application in social research. Some economics. series volumes are broad in scope, cutting across a number of disciplines. Contents: Part I. Preliminaries: 1. Review of basic concepts; 2. Metric and normed Others focus mainly on methodological spaces; 3. Vector spaces and linear applications within specific fields such as mappings; 4. Differential calculus. political science, sociology, demography, 2000 253 x 177 mm 846pp and public health. The series serves a 224 line diagrams mix of students and researchers in the 0 521 58512 0 Hardback £80.00 social sciences and statistics. 0 521 58529 5 Paperback £30.00 Microeconomics 13

Event History 12. Summary Hal R. Varian; Part II. ‘Whether you are an expert on auction Intellectual Property, Competition and theory or just a novice curious about Modeling Information Technology: 13. Introduction; how auction theory works, you will be A Guide for Social Scientists 14. Patents, trade secrets and copyrights; in for a marvelous journey. There’s no Janet M. Box-Steffensmeier 15. Differentiation of products and prices; one better at capturing the essence Ohio State University 16. Switching costs and lock-in; and generality of economic ideas than and Bradford S. Jones 17. Standards and patents; 18. Do we need Paul Milgrom. He’s a master in a class University of Arizona to reform the patent system? Joseph Farrell of his own.’ This book provides a guide to event and Carl Shapiro. Bengt Holmstrom, Massachusetts Institute of Technology history analysis for researchers and Raffaele Mattioli Lectures advanced students in the social 2004 216 x 138 mm 112pp 4 figures Contents: 1. Getting to work: 1.1 Politics 0 521 84415 0 Hardback £35.00 sets the stage; 1.2 Designing for multiple sciences. The authors explain the 0 521 60521 0 Paperback £13.99 goals; 1.3 Comparing seller revenues; foundational principles of event-history 1.4 The academic critics; 1.5 Plan for this analysis, and analyse numerous book; Section I. The Mechanism Design examples. They also discuss common HIGHLIGHT Approach: 2. Vickrey-Clarke-Groves problems encountered with time-to- NEW GRADUATE TEXTBOOK mechanisms: 2.1 Formulation; 2.2 Always event data, along with suggestions for optimal and weakly dominant strategies; implementing duration modeling Putting Auction 2.3 Balancing the budget; 2.4 Uniqueness; methods. Theory to Work 2.5 Disadvantages of the Vickrey auction; Analytical Methods for Social Research Paul Milgrom 2.6 Conclusion; 3. The envelope theorem 2004 228 x 152 mm 232pp Stanford University, California and payoff equivalence: 3.1 Hottelling’s lemma; 3.2 The envelope theorem in 18 line diagrams 36 tables This book provides a 0 521 83767 7 Hardback £47.50 integral form; 3.3 Quasi-linear payoffs; 0 521 54673 7 Paperback £17.95 comprehensive introduction to modern 3.4 Conclusion; 4. Bidding equilibrium and auction theory and its important new revenue differences: 4.1 The single crossing applications. It is written by a leading conditions; 4.2 Deriving and verifying economic theorist whose suggestions equilibrium strategies; 4.3 Revenue Microeconomics guided the creation of the new comparisons in the benchmark model; spectrum auction designs. Aimed at 4.4 Expected-revenue maximizing auctions; graduate students and professionals in 4.5 Conclusion; 5. Interdependence of types HIGHLIGHT economics, the book gives the most up- and values: 5.1 Which models and The Economics of to-date treatments of both traditional assumptions are ‘useful’?; 5.2 Statistical dependence and revenue-maximizing Information theories of ‘optimal auctions’ and newer auctions; 5.3 Wilson’s drainage tract model; Technology theories of multi-unit auctions and 5.4 Correlated types model interdependent An Introduction package auctions, and shows by values; 5.5 Conclusion; 6. Auctions in example how these theories are used. Hal R. Varian context: 6.1 The profit and surplus University of California, Berkeley ‘Paul Milgrom has combined contribution of an entrant; 6.2 Symmetric models with costly entry; 6.3 Asymmetric Joseph Farrell fundamental work in economic theory University of California, Berkeley and, in particular, the theory of models: devices to promote competition; auctions, with extensive practical 6.4 After the bidding ends; 6.5 Conclusion; and Carl Shapiro participation in the auctions of the Section II. Multi-Unit Auctions: 7. Uniform University of California, Berkeley electromagnetic spectrum. This book is price auctions: 7.1 Uniform price sealed bid The Economics of Information a brilliant synthesis of his own and auctions; 7.2 Simultaneous ascending Technology is a concise and accessible others’ contributions to the field. The auctions; 7.3 Conclusion; 8 Package review of important economic factors impact of practical problems on the auctions and combinatorial bidding: affecting information technology need for theory is thoroughly 8.1 Vickrey auctions and the monotonicity industries. These industries are exemplified. The exposition of the problems; 8.2 Bernheim-Whinston first-price theory has that complete ease only characterized by high fixed costs and package auctions; 8.3 Ausubel-Milgrom achievable through complete mastery low marginal costs of production, large ascending proxy auctions; 8.4 Conclusion. and intense work.’ Churchill Lectures in Economics switching costs for users, and strong Kenneth Arrow, Nobel Laureate, Stanford 2004 228 x 152 mm 392pp network effects. These factors combine University 8 line diagrams 4 tables to produce some unique behavior. ‘One of the recent revolutions in 0 521 55184 6 Hardback £65.00 Professor Varian outlines the basic economics is an understanding that 0 521 53672 3 Paperback £22.99 economics of these industries; markets do not automatically work www.cambridge.org/milgrom Professors Farrell and Shapiro describe well. Design matters, and the Federal the impact of these factors on communications commission spectrum auction design that Milgrom pioneered competition policy. An ideal introduction kicked off a new era of market design for undergraduate and graduate using economic theory to make real students in economics, business markets work better. Now Milgrom strategy, law and related areas. makes the underlying ideas and Contents: Part I. Competition and Market theories more widely accessible – so Power: 1. Introduction; 2. Technology and other markets too will reap the market structure; 3. Intellectual property; benefits of these insights.’ 4. The Internet boom; 5. Differentiation of Joseph Stiglitz, Nobel Laureate, Columbia products and prices; 6. Switching costs and University lock-in; 7. Supply-side economies of scale; 8. Demand-side economies of scale; 9. Standards; 10. Systems effects; 11. Computer mediated transactions;

Visit our website at www.cambridge.org 14 Microeconomics

FORTHCOMING TEXTBOOK editors maps out issues and scenarios NEW TEXTBOOK for the future evolution of applied Price Theory and general equilibrium. Competition Policy Theory and Practice Applications Contributors: Timothy J. Kehoe, T. N. Massimo Motta Decisions, Markets, and Srinivasan, John Whalley, Kenneth J. Information European University Institute, Florence Arrow, Herbert Scarf, Charles A. Wilson, Seventh edition This book offers a complete and Kenneth L. Judd, Michael C. Ferris, accessible treatment of antitrust (or Jack Hirshleifer Steven P. Dirske, Alexander Meeraus, University of California, Los Angeles competition policy) issues, and it is Edward C. Prescott, Lard Ljungqvist, Amihai Glazer enriched by references to antitrust cases Thomas J. Sargent, Makoto Nakajima, University of California, Irvine and fully developed case studies. José Víctor Ríos Rull, Aloisio Araujo, and David Hirshleifer Although it can be used as an Mario Pascoa, Dale W. Jorgenson, Ohio State University economics textbook in graduate or Kun-Young Yun, François Bourguignon, This new seventh edition of the book advanced undergraduate courses, the Anne-Sophie Robilliard, Sherman offers extensive discussion of book is accessible to lawyers, Robinson, Alan S. Manne, James information, uncertainty, and game practitioners, and all readers who are Heckman, Rosa Matzkin, Lars Nesheim, theory. It contains over a hundred interested in anti-trust issues, but are Timothy J. Kehoe, Lisandro Abrego, John examples illustrating the applicability of not familiar with modern economics. Whalley, Shatayanan Devarajan, economic analysis not only to mainline The formalisation of the material Sherman Robinson economic topics but also issues in covered in the main non-technical 2005 228 x 152 mm 456pp politics, history, biology, the family, and 0 521 82525 3 Hardback £55.00 sections is relegated to separate many other areas. Publication March 2005 ‘technical’ sections that can be skipped Contents: 1. The nature and scope of without losing continuity. economics; 2. Working tools; 3. Utility and NEW ‘Motta brings together today’s preference; 4. Consumption and demand; economic theory with important cases 5. Applications and extensions of demand Group Formation in from both sides of the Atlantic. It will theory; 6. The business firm; 7. Equilibrium Economics be a valuable resource for students in the product market – competitive and practitioners, and I look forward Networks, Clubs, and Coalitions industry; 8. Monopolies, cartels, and to using it in classes.’ networks; 9. Product quality and product Edited by Gabrielle Demange Joseph Farrell, University of California, Berkeley DELTA, Paris variety; 10. Competition among the few: ‘This careful treatment of the oligopoly and strategic behavior; and Myrna Wooders economics of competition policy, from 11. Dealing with uncertainty – the University of Warwick an expert who has himself made economics of risk and information; 12. The Broad and diverse ranges of activities important contributions to the theory, demand for factor services; 13. Resource are conducted within and by organized should be an essential reference for supply and factor-market equilibrium; groups of individuals, including political, anyone working in the field. It fills a 14. Exchange, transaction costs, and money; economic and social activities. This real gap in the market, and should be useful to practitioners as well as both 15. The economics of time; 16. Welfare volume introduces the reader to game- economics: the market and the state; advanced undergraduate and graduate 17. Government, politics, and conflict. theoretic treatments of group formation. students.’ 2005 253 x 177 mm 500pp Some of the topics investigated are Paul Klemperer, Oxford University 187 line diagrams 102 tables models of networks of power and ‘In this innovative and thoughtful 0 521 81864 8 Hardback c. £60.00 privilege, trade networks, and networks volume, Massimo Motta brings the Publication August 2005 of medical innovation and the new generation of game-theoretic I.O. adaptation of new information. Other models to bear on a wonderfully wide ranging set of important recent cases NEW topics covered include social norms on punctuality, clubs and the provision of in competition policy. This book will be Frontiers in Applied club goods, public goods provision, of great interest, and of lasting value, to students and practitioners alike.’ General Equilibrium research and development and colusive John Sutton, London School of Modeling alliances among corporations, and Economics Edited by Timothy J. Kehoe international alliances and trading University of Minnesota agreements. Contents: Part I. Competition Policy; T. N. Srinivasan 2005 228 x 152 mm 496pp Part II. Market Power and Welfare; Yale University, Connecticut 37 line diagrams 14 tables 0 521 84271 9 Hardback £48.00 Part III. Market Definition and the and John Whalley Publication March 2005 Assessment of Market Power; University of Western Ontario Part IV. Collusion and Horizontal This volume brings together twelve Agreements; Part V. Horizontal Mergers; papers by many of the most prominent Part VI. Vertical Restraints and Vertical applied general equilibrium modelers Mergers; Part VII. Predation, honoring Herbert Scarf. The contributors Monopolisation, and Other Abusive discuss some traditional as well as some Practices; Part VIII. A Toolkit. newer topics in the field, including non- 2004 253 x 177 mm 640pp convexities in economy-wide models, 35 line diagrams 19 tables tax policy, developmental modeling and 0 521 81663 7 Hardback £90.00 energy modeling. The book also covers 0 521 01691 6 Paperback £34.00 a range of new approaches, conceptual issues and computational algorithms. An introductory chapter written by the Macroeconomics and Monetary Economics 15

TEXTBOOK TEXTBOOK TEXTBOOK Economics and the The Economics of Dynamic Theory of Games Network Industries Macroeconomic Fernando Vega-Redondo Oz Shy Analysis Universidad de Alicante University of Haifa, Israel Theory and Policy in General This textbook offers a systematic, self- This book introduces upper-level Equilibrium contained account of the main undergraduates, graduate students, and Edited by Sumru Altug contributions of modern game theory researchers to the latest developments Koç University, Istanbul and its applications to economics. in network economics. Jagjit S. Chadha University of Cambridge Starting with a detailed description of ‘The Economics of Network Industries is how to model strategic situations, the the first textbook devoted exclusively and Charles Nolan discussion proceeds by studying basic to the analysis of markets in which the University of Durham solution concepts, their main utility of consumers increases with the A survey of key issues relevant for the refinements, games played under number of others purchasing the same analysis of modern dynamic economies. (i.e. compatible) product.’ incomplete information, and repeated Contents: Foreword William Brock;1.The Managerial and Decision Economics games. For each of these theoretical application of stochastic dynamic developments, there is a companion set Contents: 1. Introduction; 2. The hardware programming methods to household industry; 3. The software industry; of applications that cover the most consumption and saving decisions: a critical 4. Technology, advance, and survey Jim Pemberton; 2. Investment representative instances of game- standardization; 5. Telecommunication; theoretic analysis in economics, e.g. dynamics Fanny S. Demers, Michael Demers 6. Broadcasting; 7. Markets for information; and Sumru Altug; 3. Taxes and welfare in a oligopolistic competition, public goods, 8. Banks and money; 9. The airline industry: stochastically growing economy Stephen J. coordination failures, bargaining, social interaction; 10. Other networks; Turnovsky; 4. Recent developments in the insurance markets, implementation Appendices: A. Normal-form games; microeconomic stabilisation literature: Is theory, signaling and auctions. B. Extensive-form games; C. Undercut-proof price stability a good stabilisation strategy? equilibria. Contents: Part I. Theoretical Framework; Matt Canzoneri, Robert Cumby and Behzad 2001 228 x 152 mm 330pp Part II. Strategic-Form Analysis; Diba; 5. On the interaction of monetary and 55 line diagrams 23 tables fiscal policy Jagjit Chadha and Charles Part III. Strategic-Form Analysis; 0 521 80095 1 Hardback £50.00 Nolan; 6. Dynamic general equilibrium 0 521 80500 7 Paperback £19.99 Part IV. Refinements of Nash analysis: the open economy dimension Philip Equilibrium; Part V. Refinements of Nash Lane and Giovanni Ganelli; 7. Credit frictions Equilibrium; Part VI. Incomplete and ‘sudden stops’ in small open economies: Information; Part VII.. Incomplete Macroeconomics an equilibrium business cycle framework for Information; Part VIII.. Repeated emerging markets crises Cristina Arellano Interaction; Part IX. Repeated and Monetary and Enrique Mendoza; 8. Asset pricing in Interaction; Part X. Evolutionary macroeconomic models Paul Söderlind; Foundations of Equilibrium; Part XI. Economics 9. Labor market search and monetary shocks Learning to Play; Part XII. Social Carl Walsh; 10. On the introduction of endogenous labor income in deterministic Learning and Equilibrium Selection; FORTHCOMING and stochastic endogenous growth models 12.1 Introduction; 12.2 Evolutionary Stephen J. Turnovsky; 11. Growth and games. The business cycles Gabriel Talmain. 2003 253 x 177 mm 524pp Internationalisation of 2003 247 x 174 mm 610pp 84 line diagrams 55 tables 227 exercises 48 line diagrams 12 tables 0 521 77251 6 Hardback £90.00 Asset Ownership in 0 521 82668 3 Hardback £80.00 0 521 77590 6 Paperback £33.00 Europe 0 521 53403 8 Paperback £30.00 Edited by Harry Huizinga Universiteit van Tilburg and Lars Jonung European Commission, Brussels Financial markets in Europe are increasingly integrated, leading to a rise in foreign ownership of assets. This volume provides an authoritative analysis of the evolution and implications of this process in Europe today. The collected studies present new data on the extent of foreign ownership in Europe and analyse some of the major challenges it creates for policy- makers at both European and national level. This thorough investigation of financial market integration in Europe will be of great interest to economists and policy institutions alike. 2005 228 x 152 mm 331pp 56 tables 53 figures 0 521 85295 1 Hardback c. £50.00 Publication September 2005

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Deflation TEXTBOOK Productivity Growth, Current and Historical Modeling Monetary Inflation, and Perspectives Unemployment Edited by Richard C. K. Burdekin Economies The Collected Essays of Robert J. Claremont McKenna College, California Second edition Gordon and Pierre L. Siklos Bruce Champ Robert J. Gordon Wilfrid Laurier University, Ontario Federal Reserve Bank, Cleveland Northwestern University, Illinois and Scott Freeman Deflation is no longer just a relic of the Foreword by Robert M. Solow Great Depression. Deflation became University of Texas, Austin The 17 seminal essays by Robert J. established in China and Japan in the Uniquely among monetary textbooks, Gordon collected here, including three 1990s and now threatens other major this text teaches monetary economics previously unpublished works, offer economies such as Germany and even using a simple model based on sharply etched views on the principal the United States. This volume considers standard microeconomics. The model is topics of macroeconomics – growth, why deflation may be worse than clearly and explicitly specified so that inflation, and unemployment. The inflation and explores how individuals students see and participate in author re-examines their salient points and policymakers have responded to the discovering the implications of the in a uniquely creative, accessible phenomenon. Monetary and exchange model for monetary questions. introduction that serves on its own as rate regimes as well as stock market Contents: Preface; Part I. Money: 1. A an introduction to modern reactions play an important part in simple model of money; 2. Barter and macroeconomics. Each of the four parts advancing or slowing deflationary trends. commodity money; 3. Inflation; into which the essays are grouped also The book’s coverage ranges from the late 4. International monetary systems; 5. Price offers a new introduction. The foreword nineteenth century to the present day. surprises; Part II. Banking: 6. Capital; Studies in Macroeconomic History 7. Liquidity and financial intermediation; by Nobel Laureate Robert M. Solow 2004 228 x 152 mm 384pp 8. Central banking and the money supply; comments on the abiding importance of 83 line diagrams 32 tables 9. Money stock fluctuations; 10. Fully these essays drawn from 1968 to the 0 521 83799 5 Hardback £45.00 backed central bank money; 11. The present. payments system; 12. Bank risk; Part III. 2004 228 x 152 mm 516pp Government Debt: 13. Deficits and the 46 line diagrams 77 tables TEXTBOOK national debt; 14. Savings and investment; 0 521 80008 0 Hardback £95.00 The Economics of 15. The effect of the National Debt on 0 521 53142 X Paperback £35.00 capital and savings; 16.The temptation of Exchange Rates inflation; References; Index. Lucio Sarno 2001 253 x 177 mm 344pp Monetary Policy, Fiscal University of Warwick 79 line diagrams 13 tables Policies and Labour and Mark P. Taylor 0 521 78354 2 Hardback £50.00 0 521 78974 5 Paperback £18.99 Markets University of Warwick Macroeconomic Policymaking in Foreword by Jeffery A. Frankel the EMU Presents recent developments in theory Economic Growth Edited by R. Beetsma and empirics of exchange rate and Macroeconomic Universiteit van Amsterdam economics. C. Favero Dynamics Università Commerciale Luigi Bocconi, Milan Contents: 1. Introduction; 2. Foreign Recent Developments in exchange market efficiency; 3. Purchasing Economic Theory A. Missale Università degli Studi di Firenze, Italy power parity and the real exchange rate; Edited by Steve Dowrick V. A. Muscatelli 4. Exchange rate determination: theories Australian National University, Canberra University of Glasgow and evidence; 5. New open economy Rohan Pitchford P. Natale macroeconomics; 6. Currency unions, Australian National University, Canberra pegged exchange rates, and target zone Università degli Studi di Milano and Stephen J. Turnovsky models; 7. Official intervention in the and P. Tirelli University of Washington foreign exchange market; 8. Models of Università degli Studi di Milano This book brings together a number of currency crisis and speculative attack; Three years after the birth of the contributions to growth theory and 9. Foreign exchange market microstructure. European Monetary Union (EMU) 2003 247 x 174 mm 330pp 10 figures macroeconomic dynamics, reflecting economists are still divided in their 0 521 48133 3 Hardback £65.00 recent developments and ongoing assessment of the ability of its key 0 521 48584 3 Paperback £24.99 debate over the relative merits of neo- institutions to provide macroeconomic classical and endogenous growth stability and foster the reforms necessary models. It focuses on the emergence of to stimulate economic growth. In this three important aspects: First, it collection experts address key questions develops growth models that extend the on issues of fiscal policy, monetary policy underlying theory in different directions. and labour markets. Blending empirical Second, it addresses the statistical and theoretical data, this book offers properties of underlying data and the one of the most comprehensive surveys effort to ensure that growth models are of recent research in macroeconomic consistent with empirical evidence. policymaking within the EMU today. Third, it discusses the increasingly 2004 228 x 152 mm 390pp international focus of macrodynamics 14 line diagrams 21 tables 57 graphs and growth theory. 0 521 82308 0 Hardback £48.00 2004 228 x 152 mm 200pp 22 line diagrams 6 tables 0 521 83561 5 Hardback £45.00 International Economics 17

Global Capital Markets TEXTBOOK NEW Integration, Crisis, and Growth Macroeconomics in Japan’s Network Maurice Obstfeld University of California, Berkeley Emerging Markets Economy and Alan M. Taylor Peter J. Montiel Structure, Persistence, and University of California, Davis Williams College, Massachusetts Change Presents an economic history of A relatively non-technical textbook in James R. Lincoln University of California, Berkeley international capital mobility in the macroeconomics designed specifically modern era. It shows that the recent for emerging economies, this book and Michael L. Gerlach University of California, Berkeley globalization can be seen, in part, as provides a model that upper-level the resumption of a liberal world order undergraduate students can use to This book considers the Japanese that had previously been established in understand economic events in their economy as a network of banks, the years 1880–1914. countries. It also provides analysis of key corporations, and ministries. It uses Japan-US Center Sanwa Monographs on macroeconomic problem areas such as quantitative and historical methods to International Financial Markets fiscal deficits, financial sector reform, trace the evolution of that network from 2004 228 x 152 mm 372pp and exchange rate policies. the prewar period to the late 90s. Have 39 line diagrams 33 tables the controversial ‘keiretsu’ enterprise Contents: Part I. Overview; Part II. A 0 521 63317 6 Hardback £45.00 groupings outlived their usefulness, Benchmark Macroeconomic Model for withering away in the face of an Emerging Economy; Part III. Public deregulation, globalization, and market NOBEL PRIZE WINNER Finance and Macroeconomic liberalization? Our conclusion is that Performance; Part IV.The Financial Towards a New relationships are still central to the Sector and Macroeconomic Paradigm in Monetary Japanese way of business, but they are Performance; Part V. Exchange Rate Economics much more subordinated to the Management. Joseph Stiglitz strategies of individual enterprises than 2003 253 x 177 mm 456pp Columbia University, New York 49 line diagrams 2 tables the Japanese network economy of the and Bruce Greenwald 0 521 78060 8 Hardback £65.00 past. Columbia University, New York 0 521 78551 0 Paperback £23.99 Structural Analysis in the Social Sciences, 24 Written out of the authors’ original 2004 228 x 152 mm 430pp thoughts and empirical observations 25 line diagrams 40 tables 0 521 45304 6 Hardback £50.00 while serving in some renowned International economic organizations. It provides a pioneer treatment of critical topics in Economics Building a Dynamic monetary economics and insightful Europe policy implications, among which are The Key Policy Debates the 1991 US recession, the liberalization NEW Edited by Jordi Gual of financial markets, and the East Asian Globalization and the IESE Business School, Barcelona Crisis. The book is a necessity for Economic policy reforms are essential if academic researchers in monetary International Financial System the European Union is to face the economics, an enlightening reference for challenges of its enlargement to the economists working in central banks or What’s Wrong, and What Can Be Done East and its lacklustre performance in international institutions, and an terms of employment and productivity innovative work that deserves wide Peter Isard International Monetary Fund growth. This volume brings together discussion and may eventually change several leading thinkers in the field to This book discusses the problematic side our view of monetary policies. discuss key policy reforms in areas such of the international financial system – Professor Joseph E. Stiglitz is the winner as energy, financial services, the high incidence of international of the 2001 Nobel Prize for Economics. macroeconomic policy co-ordination, financial crises and widespread failures labour markets and welfare state ‘The book definitely provides a new in achieving economic growth and credit channel paradigm for monetary institutions. Timely and authoritative, reducing poverty. It has three purposes: policy to be effective in stimulating this book is accessibly written and will to describe the various problems that economic activity … the emphasis in appeal to a wide policy audience. this book on the credit supply channel contribute to financial crises and growth ‘… this volume raises a number of makes a clear departure from the failures; to survey economists’ views on interesting questions … would be of traditional thinking in monetary what can be done through the efforts of interest to anyone who is concerned economics … recommended reading countries individually and through with the future development of EU for all monetary economists and systemic reforms; and to demystify a integration.’ practitioners alike.’ Journal of European Affairs International Affairs central feature of the international 2004 228 x 152 mm 180pp Raffaele Mattioli Lectures financial system – namely, the International Monetary Fund and the 10 line diagrams 7 tables 2003 216 x 138 mm 344pp 59 graphs 0 521 82734 5 Hardback £25.00 0 521 81034 5 Hardback £45.00 factors that influence its effectiveness. 0 521 00805 0 Paperback £16.99 2005 228 x 152 mm 384pp 15 line diagrams 5 tables 0 521 84389 8 Hardback £40.00 0 521 60507 5 Paperback £16.99 Publication February 2005

Visit our website at www.cambridge.org 18 Financial Economics

Gambling in America FORTHCOMING A World Without Walls Costs and Benefits Freedom, Development, Free The Economics and Earl L. Grinols Trade and Global Governance University of Illinois, Urbana-Champaign Politics of Trade Blocs Mike Moore Gambling in America explains why the Pravin Krishna Mike Moore’s reflection on his time as Brown University, Rhode Island public decision making process Director-General of the World Trade governing the issue of casino gambling The first section of this book presents a Organization is an important addition to tends to lead to wrong outcomes and rudimentary and intuitive introduction the globalization debate. He explains why the studies typically provided to to the economics of preferential trade the thinking behind his reforms guiding justify the phenomenon are conceptually agreements. The following chapters the WTO from the Seattle debacle to the flawed. Professor Grinols documents present the author’s theoretical and successful Doha meeting, offering a that the social costs of casino gambling empirical research on a number of passionate defence of the principles of considerably outweigh their social questions surrounding the issue of free trade. preferential trade agreements including benefits. ‘Mike Moore makes a strong case for 2004 228 x 152 mm 246pp the design of necessarily welfare- the benefits of free trade and open 15 line diagrams 18 tables improving trade blocs, the quantitative markets. But he warns that global 0 521 83013 3 Hardback £35.00 (econometric) evaluation of the governance needs to be rethought to economic (welfare) impact of cope with the challenges of Dispute Settlement in preferential trade liberalization, and globalization. A wide ranging and thought-provoking book.’ the World Trade the impact of preferential trade agreements and the multilateral trade George Soros, author of George Soros on Globalization Organization system. Practice and Procedure 2003 228 x 152 mm 304pp 15 half-tones Japan-US Center Sanwa Monographs on 6 tables 5 graphs Second edition International Financial Markets 0 521 82701 9 Hardback £25.00 David Palmeter 2005 216 x 138 mm 175pp Sidley Austin Brown & Wood 9 line diagrams 3 tables and Petros C. Mavroidis 0 521 77066 1 Hardback c. £30.00 Publication June 2005 Université de Neuchatel, Switzerland Financial All WTO dispute settlements and their interpretation in WTO jurisprudence are Doha and Beyond Economics discussed. Although the book contains The Future of the Multilateral Trading System considerable technical expertise, it is HIGHLIGHT accessible to a wide readership. An Edited by Mike Moore NEW TEXTBOOK essential volume for practitioners, World Trade Organization diplomats and government lawyers, this Brings together members of the former The Economics of is a comprehensive study of compulsory WTO Director General’s advisory group Financial Markets which was formed to provide him with third party adjudication in international Roy Bailey law. expert advice before and after the Doha University of Essex 2004 228 x 152 mm 348pp Ministerial Conference in 2001. Nine The Economics of Financial Markets 0 521 82311 0 Hardback £80.00 experts explore issues which are presents a concise overview of capital 0 521 53003 2 Paperback £40.00 pertinent to the ongoing progress in markets, suitable for advanced trade negotiations in 2003/4, together undergraduates and for beginning with an introduction. Agriculture and the graduate students in financial 2004 228 x 152 mm 204pp New Trade Agenda 0 521 83343 4 Hardback £40.00 economics. Following a brief overview of Creating a Global Trading financial markets – their microstructure Environment for Development and the randomness of stock market Edited by Merlinda D. Ingco The IMF and its Critics prices – this textbook explores how the The World Bank Reform of Global Financial economics of uncertainty can be applied and L. Alan Winters Architecture to financial decision-making. University of Sussex Edited by David Vines ‘This is a very well-written and University of Oxford This volume provides an analytical thorough presentation of the key discussion of the implications of and Christopher L. Gilbert topics in financial economics – the liberalising agriculture and changing Universiteit van Amsterdam book deserves to be widely adopted in agricultural trade rules in the WTO. Leading economists argue that the IMF support of courses in this dynamic area Given the modest achievements in should be better equipped for solving of teaching and research.’ previous GATT rounds, it assesses how international financial crises. Combining Peter Smith, Professor of Economics and Finance, University of York the new WTO round can help establish rigorous economic analysis with insider new rules to advance global trade and perspectives on current policy debates ‘Roy Bailey has written a highly surrounding the future of the IMF, this readable and comprehensive policy reform and facilitate introduction to financial markets. He development. book is essential for anyone interested takes the reader carefully through 2004 228 x 152 mm 532pp 77 tables in the role of international financial relevant theories before describing 80 figures institutions in our globalised economy. how they relate to different financial 0 521 82685 3 Hardback £55.00 Global Economic Institutions, 5 markets. Students will benefit from 2004 228 x 152 mm 466pp Roy Bailey’s rigorous but approachable 11 line diagrams 12 tables style of writing.’ 0 521 82154 1 Hardback £55.00 Colin Mayer, Peter Moores Professor of Finance, Saïd Business School, University of Oxford Financial Economics 19

Contents: Preface; 1. Asset markets and NEW FORTHCOMING asset prices; 2. Asset market microstructure; 3. Predictability of prices and market Weather Derivative Information Efficiency efficiency; 4. Decision making under Valuation in Financial and uncertainty; 5. Portfolio selection: the The Meteorology, Statistics, Betting Markets mean-variance model; 6. The capital asset Finance and Mathematics Behind pricing model, CAPM; 7. Arbitrage; 8. Factor Edited by Leighton Vaughan Williams the Pricing and Risk Nottingham Trent University models and arbitrage pricing theory, APT; Management of Weather 9. Empirical appraisal of the CAPM; Derivatives This book provides a fascinating study of 10. Present value relationships and price the existence and extent of information variability; 11. Intertemporal choice and Stephen Jewson and Anders Brix efficiency in financial markets, with a equity premium puzzle; 12. Bond markets special focus on betting markets. Using and fixed-interest securities; 13. Term With Christine Ziehmann international examples, this is the first structure and interest rates; 14. Futures Weather Derivative Valuation is the first book to review and analyse the issue of markets – fundamentals; 15. Futures book to cover all the meteorological, markets – speculation and hedging; information efficiency in both financial statistical, financial and mathematical 16. Futures markets – applications; and betting markets. Insights gained 17. Swap contracts and swap markets; issues that arise in the pricing and risk from the book will interest a wide 18. Options markets: fundamentals; management of weather derivatives. community: students of financial 19. Options markets – price determination; Written by consultants who work within economics, financial market analysts, 20. Options markets – applications. the weather derivative industry, this mathematicians and statisticians, and 2005 246 x 189 mm 560pp 10 figures book is packed with practical indeed all those with a special interest in 0 521 84827 X Hardback c. £60.00 information and theoretical insight into finance or in gambling. 0 521 61280 2 Paperback c. £29.99 the world of weather derivative pricing. Publication April 2005 Contributors: Leighton Vaughan ‘Weather Derivative Valuation draws Williams, Michael A. Smith, David Paton, on both finance and meteorology, with William Collier, John Peirson, NEW TEXTBOOK a healthy dose of mathematics and statistics, to provide the practitioner Ming-Chien Sung, Johnnie E. V. Johnson, The Cost of Capital with a comprehensive guide to the Alistair Bruce, David Forrest, Ian Intermediate Theory various methods for pricing and McHale, Les Coleman, Martin McGrath, Seth Armitage hedging weather derivative contracts. Bill Hurley, Lawrence McDonough, Heriot-Watt University, Edinburgh While no perfect model may exist, W. David Walls, Patrick J. Harvey, This book provides a thorough Jewson and Brix give the reader the Paul Twomey, Adi Schnytzer, Yuval exposition of the theory relating to the background necessary to make Shilony, Victor Matheson, Kent Grote, informed choices between competing cost of capital. This is a core subject in techniques.’ Rob Simmons, David Edelman, Ivan academic finance and is also of genuine William Gebhardt, Merrill Lynch Paya, David Peel, David Law, Erik practical importance; any serious ‘The weather derivatives market is Snowberg, Justin Wolfers Eric Zitzewitz attempt to value a business requires an exciting, dynamic and growing. This 2005 216 x 138 mm 260pp 33 tables estimate of its cost of capital. The book book is the most complete treatment 23 figures 0 521 81603 3 Hardback c. £45.00 seeks to explain models and arguments I have seen of the many issues Publication September 2005 in a way which does justice to the surrounding valuation of weather reasoning, whilst minimising the prior derivatives, starting from the basic knowledge of finance and maths principles, and then covering all the FORTHCOMING bases including meteorological data expected of the reader. It is intended analysis, pricing, portfolio Systemic Financial primarily for students at advanced management, incorporation of undergraduate level, MSc or MBA level. Crises forecasts and risk management. As a Containment and Resolution Contents: Preface; Part I. Expected Returns practitioner in the market, I found this book comprehensive and excellently Edited by Patrick Honohan on Financial Assets: 1. The cost of capital The World Bank under certainty; 2. Allowing for uncertainty: written. Jewson and Brix have taken a and Luc Laeven contingent states; 3. The capital asset complex subject and made it both The World Bank pricing model and multifactor models; interesting to read and easy to 4. The consumption-based model; 5. The understand. I would have no hesitation This book is about the policies used by equity risk premium; Part II. A Project’s in recommending it to others, both governments around the world to deal Cost of Capital: 6. Project valuation; experts in the field and those with financial crises. Few governments approaching the subject for the first 7. Corporation tax, leverage and the have been able to come out of the crisis weighted average cost of capital; time.’ Gearóid Lane, Centrica quickly, at low cost and without 8. Personal tax and the cost of equity: the creating risks for the future. Drawing on ‘The book covers all of the latest old and the new views; 9. Personal tax, international experience, the authors leverage and multiple tax rates; topics in weather derivative pricing, 10. Inflation and risk premiums; 11. The valuation and risk management in a show how the trade-off between international dimension; Part III. Estimating way that is rigorous, and yet also alternative policy approaches, such as the Cost of Capital: 12. The cost of equity: accessible to the non-mathematician. that between bail-outs and closures, can inference from present value; 13. The cost Highly recommended for all involved in differ depending on country positions. of equity: applying the CAPM and weather derivatives, whether they are Also covered are the potential multifactor models; 14. Estimating a hedgers, traders, investors, marketers contribution of foreign bank entry, project’s cost of capital; 15. Regulated or risk managers.’ Martin Jones, Chief Investment Officer, Coriolis government-owned asset management utilities. Capital Limited companies and bankruptcy law. 2005 247 x 174 mm 368pp 4 tables 2005 234 x 156 mm 384pp 85 figures 2005 228 x 152 mm 375pp 8 figures 0 521 84371 5 Hardback c. £40.00 6 line diagrams 32 tables 0 521 80195 8 Hardback £50.00 Publication March 2005 0 521 85185 8 Hardback c. £45.00 0 521 00044 0 Paperback £24.99 Publication October 2005 Publication April 2005

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NEW EDITION manner that is accessible to the TEXTBOOK sophisticated and the lay reader. They Entertainment handle the material in a pedagogical An Introduction to Industry Economics manner which makes it appropriate for Financial Option A Guide for Financial Analysis graduate level finance courses and practitioners. This book is a must read Valuation Sixth edition for those looking to educate Mathematics, Stochastics and Harold L. Vogel themselves on these topics.’ Computation In this new sixth edition, Harold L. Vogel Franco Modigliani, Emeritus Professor at MIT Desmond Higham examines the business economics of the and Nobel Laureate in Economic Science University of Strathclyde 2004 228 x 152 mm 350pp This lively textbook provides an major entertainment enterprises: movies, 67 line diagrams 8 tables television, and cable programming, 0 521 81510 X Hardback £35.00 introduction to financial option valuation music, broadcasting, casino-wagering for undergraduates armed with a and gambling, sports, publishing, knowledge of first year calculus. Contains performing arts, theme parks, and toys. A GRADUATE TEXTBOOK stand-alone MATLAB code to illustrate new section is included, pertaining to Quantum Finance ideas and examples using real stock recent theoretical work explaining box Path Integrals and Hamiltonians market data. Solutions available from office performance. New material links for Options and Interest Rates solutionsContents: 1. Introduction; the concept of cultural capital to the Belal E. Baaquie 2. Option valuation preliminaries; organizational aspects shared by all National University of Singapore 3. Random variables; 4. Computer creative industries, expands the coverage Financial mathematics is currently simulation; 5. Asset price movement; of deal elements in the music industry, almost completely dominated by a 6. Asset price model: part I; 7. Asset price and provides additions to the sports technique called stochastic calculus. This model: part II; 8. Black–Scholes PDE and economics chapter. book is unique in that it applies the formulas; 9. More on hedging; 10. The Contents: Part I. Introduction: 1. Economic mathematics and concepts of quantum Greeks; 11. More on the Black–Scholes perspectives; Part II. Media-Dependent mechanics and quantum field theory to formulas; 12. Risk neutrality; 13. Solving a Entertainment: 2. Movie macroeconomics; the modelling of interest rates and the nonlinear equation; 14. Implied volatility; 3. Making and marketing movies; 4. Financial theory of options. 15. The Monte Carlo method; 16. The accounting in movies and television; 5. Music; binomial method; 17. Cash-or-nothing This pioneering work will be of interest 6. Broadcasting; 7. Cable; 8. The internet; options; 18. American options; 19. Exotic to physicists, mathematicians, analysts 9. Publishing; 10. Toys and games; options; 20. Historical volatility; and practitioners working in the field of Part III. Live Entertainment: 11. Gaming and 21. Monte Carlo part II: variance wagering; 12. Sports; 13. Performing arts and finance. The book can also be used as a reduction by antithetic variates; culture; 14. Amusement/theme parks; graduate text for courses in financial 22. Monte Carlo part III: variance Part IV. Roundup: 15. Epilog; Notes; Appendix physics and financial mathematics. A. Sources of information; Appendix B. Major reduction by control variates; 23. Finite Contents: Foreword; Preface; 1. Synopsis; games of chance; Appendix C. Supplementary difference methods; 24. Finite difference Part I. Fundamental Concepts of Finance: data; Glossary; References; Index. methods for the Black–Scholes PDE. 2. Introduction to finance; 3. Derivative 2004 247 x 174 mm 296pp 120 exercises 2004 228 x 152 mm 634pp securities; Part II. Systems with finite 94 line diagrams 106 tables 95 figures 0 521 83612 3 Hardback £35.00 number of degrees of freedom: 0 521 83884 3 Hardback £50.00 4. Hamiltonians and stock options; 5. Path 0 521 54757 1 Paperback £24.99 integrals and stock options; 6. Stochastic Financial Derivatives interest rates’ Hamiltonians and path Pricing, Applications, and integrals; Part III. Quantum Field Theory of Rethinking Pension Mathematics Interest Rates Models: 7. Quantum field Reform theory of forward interest rates; 8. Empirical Jamil Baz Franco Modigliani Deutsche Bank, London forward interest rates and field theory models; 9. Field theory of derivatives and and Arun Muralidhar and George Chacko Mcube Investment Technologies Harvard Business School hedging of treasury bonds; 10. Field theory Hamiltonian of forward interest rates; A unique presentation of both academic This book is a graduate level manual on 11. Conclusions; A. Mathematical and practical aspects of managing the pricing of financial derivatives. It background; Brief glossary of financial pension funds to clarify the global debate allows the reader with basic knowledge terms; Brief glossary of physics terms; List on social security. The authors establish of finance, calculus, and probability and of main symbols. the basic choices in designating any statistics to understand the most 2004 247 x 174 mm 332pp 5 tables system to help policy makers achieve their powerful tools in applied finance. The 48 figures 0 521 84045 7 Hardback £45.00 many objectives. Successful reforms three-fold focus is on equity derivatives, depend on financial innovation to interest rate markets, and the mitigate key risks and innovations are mathematics of pricing. These concepts discussed which demonstrate how are applied in turn to the valuation of pension reform choices affect the conventional and more specialized cases achievement of retirement objectives. An such as equity derivatives, government examination of some proposed hybrid bonds, corporate bonds, swaps, caps, options shows how the beneficial and swaptions. features of these hybrids can be captured ‘Jamil Baz and Geroge Chacko have through good design in a single fund. written an invaluable book that 2004 228 x 152 mm 266pp combines the technical and the 45 line diagrams 39 tables practical aspects of derivatives pricing, 0 521 83411 2 Hardback £45.00 interest rate models, and pricing complex financial instruments in a 22 Public Economics and Political Economy

GRADUATE TEXTBOOK Public FORTHCOMING The Concepts and Social Security Reform Practice of Economics and Financial and Political Issues in Mathematical Finance International Perspective Political Edited by Robin Brooks Mark S. Joshi Royal Bank of Scotland and Assaf Razin Economy Tel-Aviv University For those starting out as practitioners of As population aging has become mathematical finance, this is an ideal increasingly acute in many countries, the introduction. It provides the reader with NEW debate over how to reform often a clear understanding of the intuition The Economic creaking public pension systems has behind derivatives pricing, how models Implications of Aging gathered momentum. This volume are implemented, and how they are Societies focuses on the underlying economic used and adapted in practice. The Costs of Living Happily Ever issues of the debate. It begins by Contents: Preface; 1. Risk; 2. Pricing After examining the rationale behind why methodologies and arbitrage; 3. Trees and Steven A. Nyce public pension systems were introduced option pricing; 4. Practicalities; 5. The Ito Watson Wyatt Worldwide, Washington DC calculus; 6. Risk neutrality and martingale originally, then systematically examines and Sylvester J. Schieber measures; 7. The practical pricing of a different aspects of reforming these Watson Wyatt Worldwide, Washington DC European option; 8. Continuous barrier systems. It covers the fiscal options; 9. Multi-look exotic options; This book describes current trends in repercussions of reform, the implications 10. Static replication; 11. Multiple sources birth rates, longevity and labor force of the baby boom on asset returns in of risk; 12. Options with early exercise participation and their implications for the years ahead, the political economy features; 13. Interest rate derivatives; various societies’ economic prosperity. of the reform process, and finally the 14. The pricing of exotic interest rate The study projects a future with too risk-sharing implications that are derivatives; 15. Incomplete markets and few workers, too many retirees and inherent in reform. jump-diffusion processes; 16. Stochastic possibly not enough economic goods 2005 228 x 152 mm 360pp volatility; 17. Variance gamma models; and services to satisfy the aspirations 43 line diagrams 73 tables 18. Smile dynamics and the pricing of exotic of the citizenry in many developed 0 521 84495 9 Hardback c. £45.00 options; Appendix A. Financial and Publication May 2005 mathematical jargon; Appendix B. Computer economies. It raises profound questions projects; Appendix C. Elements of about labor participation and probability theory; Appendix D. Hints and productivity, the cross-border flow of NEW answers to questions; Bibliography; Index. capital, the globalization of labor Imagined Economies Mathematics, Finance and Risk, 1 markets, the financial viability of social The Sources of Russian 2003 247 x 174 mm 492pp insurance programs, and the ways Regionalism 78 line diagrams 150 exercises economic output is shared between 0 521 82355 2 Hardback £33.00 Yoshiko M. Herrera working-age and retiree populations. Harvard University, Massachusetts 2005 228 x 152 mm 408pp 33 line diagrams 33 tables This book analyzes the economic bases 0 521 85153 X Hardback £45.00 of regional sovereignty movements in 0 521 61724 3 Paperback £18.99 the Russian Federation from Publication March 2005 1990–1993. The analysis is based on an original data set of Russian sovereignty NEW movements, and also includes two case studies on Sverdlovsk and Samara Europe and the Politics oblasts. The author employs a variety of of Capabilities methods including quantitative Edited by Robert Salais statistical analysis and systematic and Robert Villeneuve qualitative content analysis of local Focusing on the building of social newspapers. The book addresses the Europe, this book breaks with the sterile literature on both nationalism and debate between advocates of market- political economy and provides a novel based solutions and their opponents analytic framework for explaining the (the supporters of traditional welfare origin of economic interests and the states) and develops another political development of sovereignty movements. framework, ‘the capability approach’. Cambridge Studies in Comparative Politics 2005 228 x 152 mm 312pp Taking inspiration from the work of 4 line diagrams 37 tables 3 maps Amartya Sen, this book focuses on the 0 521 82736 1 Hardback £45.00 effective freedom people need to Publication February 2005 achieve their goals in life and work. The result of ongoing collaboration between researchers and social actors, it will appeal to social scientists, students, policy makers and all those concerned with the building of Europe. 2005 228 x 152 mm 328pp 10 tables 10 graphs 3 figures 0 521 83604 2 Hardback £50.00 Public Economics and Political Economy 23

From Elections to Investing in Human FORTHCOMING Democracy Capital The Political Economy Building Accountable A Capital Markets Approach to Government in Hungary and Student Funding of Poland’s Transition New Firms and Reform Poland Miguel Palacios Lleras Governments Susan Rose-Ackerman University of Virginia Yale University, Connecticut Foreword by Nicholas Barr John E. Jackson University of Michigan, Ann Arbor The transition to democracy in Central London School of Economics and Political Science Jacek Klich and Eastern Europe is not complete. The Jagiellonian University, Krakow ‘Miguel Palacios Lleras has written the process by which governments make and Krystyna Poznanska policy is often closed and difficult to authoritative work on the revolution that is underway to integrate human Warsaw School of Economics penetrate. Frequently, only a few capital into our financial system. The In the time span of a two-term US insiders are consulted and short time book makes the dimensions of this presidency, Poland went from an limits and bureaucratic resistance make revolution clear, and provides real authoritarian one-party state with a the process opaque to ordinary citizens. impetus and inspiration to propel it to faltering centrally planned economy to Drawing on interviews with key officials the next level in the future. The results become a relatively stable multiparty and private sector activists, this book for our society and our lives will be democracy and a market economy with documents existing problems with the profound.’ Robert J. Schiller, Stanley B. Resor Professor of one of the highest GDP growth rates in policymaking processes in Hungary and Economics at Yale University Europe. Using detailed economic, survey Poland and argues for reforms that will ‘Little can be more important to the and voting data, this book looks to the enhance the accountability of all welfare of our civilization than finding high rate of creation and growth of new, democracies in the region. ways to match educational domestically owned firms from 2005 228 x 152 mm 272pp 15 tables opportunities to human capability. Too 0 521 84383 9 Hardback c. £35.00 1990–1997 to explain these successes. It often, human resources are is the only book that integrates both Publication May 2005 squandered by failure to make these opportunities available to deserving economic and political analyses and data. Political Economy of Institutions and FORTHCOMING but poorly financed individuals. Investing in Human Capital describes Decisions an exciting remedy: equity investments 2005 228 x 152 mm 272pp The Market for Force 14 line diagrams 69 tables in the fruits of educational investment. The Consequences of Privatizing 0 521 83895 9 Hardback c. £45.00 Security Although this idea is not new, it is Publication July 2005 Deborah D. Avant virtually untried and this book more George Washington University, Washington DC than any other shows in detail how to turn it into a successful reality.’ FORTHCOMING The legitimate use of force is generally Mark Rubinstein, Paul Stephens Professor of presumed to be the realm of the state. Applied Investment Analysis, Haas School of Social Movements and However, the flourishing role of the Business, University of California, Berkeley Organization Theory private sector in security over the last 2004 228 x 152 mm 248pp 22 line diagrams 24 tables Edited by Gerald Davis twenty years has brought this into 0 521 82840 6 Hardback £30.00 University of Michigan, Ann Arbor question. In this book Deborah Avant Doug McAdam examines the privatization of security Center for Advanced Study in the Behavioral and its impact on the control of force. NEW IN PAPERBACK Sciences, Stanford, California She describes the growth of private W. Richard Scott Selling China Stanford University, California security companies, explains how the Foreign Direct Investment and Mayer Zald industry works, and describes its range During the Reform Era University of Michigan, Ann Arbor of customers – including states, non- Yasheng Huang government organisations and Massachusetts Institute of Technology Although the fields of organization theory and social movement theory have long commercial transnational corporations. The book is about China’s integration in been viewed as belonging to different She charts the inevitable trade-offs that the world economy. It proposes a worlds, recent events have intervened, the market for force imposes on the radically different perspective on this reminding us that organizations are states, firms and people wishing to topic. Most economists view China’s becoming more movement-like – more control it, suggests a new way to think large foreign direct investment (FDI) volatile and politicized – while about the control of force, and offers a inflows as a result of China’s economic movements are more likely to borrow model of institutional analysis that success. This book views the same strategies from organizations. Scholars draws on both economic and phenomenon as a function of the who have focused primarily on structure sociological reasoning. The book imperfections in the Chinese economic and stability have much to learn from contains case studies drawn from the system. It uses economic theory to colleagues who have focused on turmoil US and Europe as well as Africa and the explain FDI to a greater extent than and conflict – and vice versa. The topics Middle East. previous studies. The book also presents covered range from globalization and 2005 228 x 152 mm 320pp 7 tables comparative FDI data of a number 1 figure transnational social movement countries while most the previous 0 521 85026 6 Hardback c. £40.00 organizations to community recycling 0 521 61535 6 Paperback c. £16.99 studies only contained data on China. programs. Publication May 2005 Cambridge Modern China Series Cambridge Studies in Contentious Politics 2005 228 x 152 mm 408pp 0 521 60886 4 Paperback £16.99 2005 228 x 152 mm 432pp Publication February 2005 16 line diagrams 23 tables 0 521 83949 1 Hardback c. £45.00 0 521 54836 5 Paperback c. £19.99 Publication June 2005

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Business Politics and How Australia NEW the State in Twentieth- Compares Russia in the 21st Century Latin America Rodney Tiffen University of Sydney Century Ben Ross Schneider The Prodigal Superpower Northwestern University, Illinois and Ross Gittins Steven Rosefielde Schneider’s book is the first How Australia Compares is a reference University of North Carolina, Chapel Hill work which assesses the nation with its systematically comparative and This book demonstrates Russia’s broader group of peers. In an accessible historical analysis of the incorporation intention to re-emerge as a full-fledged format it compares and contrasts of business into politics in Latin superpower before 2010 that would Australia over 17 core aspects of America. It examines business challenge America and China and economic, political and social life with organizing and political activity over the potentially threaten a new arms race. 18 leading first-world countries. last century, considering why business Contrary to conventional wisdom, this ended up better organized in Chile, 2004 246 x 190 mm 294pp 394 tables 0 521 83578 X Hardback £50.00 goal is easily within the Kremlin’s grasp, Colombia, and Mexico than in Argentina but the cost to the Russian people and and Brazil. global security would be immense. A 2004 228 x 152 mm 336pp 6 tables NEW TEXTBOOK sophisticated strategy is proposed to 0 521 83651 4 Hardback £45.00 0 521 54500 5 Paperback £18.99 A Course in Public dissuade President Vladimir Putin from Economics pursuing this destabilizing course. The cold war image of the Soviet Union is NEW John Leach exposed as a statistical illusion. A McMaster University, Ontario critique of American foreign Doing Business in the This textbook in public economics Middle East policymaking is also provided. explores the government’s role in the 2005 228 x 152 mm 272pp Politics and Economic Crisis in economy. It is intended for third or 7 line diagrams 19 tables Jordan and Kuwait fourth year undergraduate students and 0 521 83678 6 Hardback £40.00 Pete W. Moore first year graduate students. The core 0 521 54529 3 Paperback £15.99 Publication February 2005 University of Miami topics covered include markets, Pete Moore’s book is the first to examine externalities, public goods, imperfect relations between state authority and competition, asymmetric information TEXTBOOK elite business representation in the and efficiency, and asymmetric Public Finance and Middle East. By considering the Kuwait information and income redistribution. and Jordan cases, he examines why A knowledge of intermediate Public Policy organised business in Kuwait has been microeconomics and basic calculus is Responsibilities and Limitations of Government able to coordinate policy reform with assumed. Each chapter contains state officials, while their Jordanian exercises at the end, whose solutions Arye L. Hillman Bar-Ilan University, Israel counterparts have generally failed, are available to instructors. despite similar fiscal crises. The author This textbook systematically sets forth Contents: Part I. Markets; Part II. concludes that unleashing the private the basic issues involved in public Externalities; Part III. Public Goods; sector alone is insufficient to change finance and public policy. The ten Part IV. Imperfect Competition; current political and economic specific areas covered are markets and Part V.Taxation and Efficiency; arrangements when established political property, collective benefits, voting on Part VI. Asymmetric Information and infrastructures remain in place. public speaking, market corrections, Efficiency; Part VII. Asymmetric Cambridge Middle East Studies, 20 social justice, political processes and Information and Income Redistribution. 2004 228 x 152 mm 228pp 10 tables redistribution, taxation, user pricing, 0 521 83955 6 Hardback £45.00 2004 228 x 152 mm 434pp 59 line diagrams 3 tables public policy for welfare issues, and the 0 521 82877 5 Hardback £80.00 question of how much government is Australia’s Money 0 521 53567 0 Paperback £30.00 needed in the modern state. Mandarins Contents: 1. Markets and property; The Reserve Bank and the 2. Collective benefits; 3. Voting and public goods; 4. Market corrections; 5. Social Politics of Money insurance and social justice; 6. Politics and Stephen Bell redistribution; 7. Taxation; 8. User pricing; University of Queensland 9. Health, education, and retirement; Australia’s Money Mandarins lets the 10. How much government? key players speak for themselves and 2003 253 x 177 mm 780pp tells the story of monetary policy and 136 line diagrams 42 tables the political role of the Reserve Bank of 0 521 80641 0 Hardback £90.00 0 521 00114 5 Paperback £33.00 Australia over the past two decades. It discusses how the bank has been used as a ‘political football’, describes the conflicts with the government and the Department of Treasury, and how the bank got used to the rough and tumble of politics and managed to assert a level of independence in the 1990s. 2004 228 x 152 mm 248pp 0 521 83990 4 Hardback £45.00 Financial Economics 21

GRADUATE TEXTBOOK GRADUATE TEXTBOOK TEXTBOOK Theory of Financial Capital Budgeting A Course in Financial Risk and Derivative Financial Appraisal of Calculus Investment Projects Pricing Alison Etheridge Don Dayananda From Statistical Physics to Risk University of Oxford Central Queensland University Management A text for first courses in financial Richard Irons Second edition Central Queensland University calculus; lots of examples and Jean-Philippe Bouchaud Steve Harrison exercises. Centre Commissariat à l’Energie Atomique University of Queensland Contents: Preface; 1. Single period models; (CEA), Saclay John Herbohn 2. Binomial trees and discrete parameter and Marc Potters University of Queensland martingales; 3. Brownian motion; Capital Fund Management and Patrick Rowland 4. Stochastic calculus; 5. The Black-Scholes Contents: 1. Probability theory: basic Curtin University of Technology, Perth model; 6. Different payoffs; 7. Bigger notions; 2. Maximum and addition of models; Bibliography and further reading; Contents: 1. Capital budgeting: an random variables; 3. Continuous time limit, Notation; Index. overview; 2. Project cash flows; 3. Ito calculus and path integrals; 4. Analysis 2002 228 x 152 mm 204pp 138 exercises Forecasting cash flows: overview, of empirical data; 5. Financial products and 14 figures quantitative techniques, approaches; 4. financial markets; 6. Statistics of real prices: 0 521 81385 9 Hardback £65.00 Forecasting cash flows: qualitative methods; basic results; 7. Non-linear correlations and 0 521 89077 2 Paperback £23.99 5. Essential Formulae in project appraisal; 6. volatility fluctuation; 8. Skewness and price- Project analysis under certainty; 7. Project volatility correlations; 9. Cross-correlations; appraisal under risk; TEXTBOOK 10. Risk measures; 11. Extreme correlations 8. Sensitivity and break-even analysis; and variety; 12. Optimal portfolios; 13. 9. Simulation concepts and methods; Introductory Futures and options: fundamental concepts; 10. Case study in financial modelling and Econometrics for 14. Options: hedging and residual risk; 15. simulation of a forestry investment; Options: the role of drift and correlations; Finance 11. Resource constraints and linear 16. Options: the Black and Scholes model; Chris Brooks programming; 12. More advanced linear 17. Options: some more specific problems; Cass Business School, City University programming concepts and methods; 18. Options: minimum variance Monte 13. Financial modelling case study in The best-selling introductory Carlo; 19. The yield curve; forestry project evaluation; 14. Property econometrics book for finance students. 20. Simple mechanisms for anomalous price investment analysis; 15. Forecasting and The approach adopted is data and statistics. analysing risks in property investments; 16. 2003 247 x 174 mm 400pp problem driven, giving students the Multinational corporations and International 94 line diagrams 18 tables skills to estimate and interpret models, 0 521 81916 4 Hardback £45.00 Project appraisal; Appendix A: Answers to while having an intuitive grasp of the review questions. underlying theoretical concepts. The 2002 247 x 174 mm 342pp 85 tables book assumes no prior knowledge of TEXTBOOK 26 figures 0 521 81782 X Hardback £70.00 econometrics, and covers important Principles of Financial 0 521 52098 3 Paperback £27.00 modern topics. Economics Contents: 1. Introduction; 2. Econometric Stephen F. LeRoy Dynamics of Markets packages for modelling financial data; 3. A brief overview of the classical linear University of California, Santa Barbara Econophysics and Finance regression model; 4. Further issues with and Jan Werner Joseph L. McCauley University of Minnesota the classical linear regression model; University of Houston 5. Univariate time series modelling and This graduate-level introduction links This text introduces a new empirically- forecasting; 6. Multivariate modelling; financial economics with equilibrium based model of financial market 7. Modelling long-run relationships in theory and emphasises two-date models. dynamics that explains volatility, prices finance; 8. Modelling volatility and Contents: Part I. Equilibrium and options correctly and clarifies the correlation; 9. Modelling regime shifts; Arbitrage; Part II. Valuation; instability of financial markets. The 10. Simulation methods; 11. Conducting empirical research in finance; Part III. Risk; Part IV. Optimal Portfolios; emphasis is on understanding how real 12. Conclusions: recent and future Part V. Equilibrium Prices and markets behave, not how they developments in the modelling of financial Allocations; Part VI. Mean-Variance hypothetically ‘should’ behave. time series; References; Appendix. Review Models; Part VII. Multidate Models. 2004 247 x 174 mm 226pp of matrix algebra, calculus, and probability 2001 253 x 177 mm 300pp 22 line diagrams 1 half-tone theory; Statistical tables. 0 521 82447 8 Hardback £45.00 19 line diagrams 2002 247 x 174 mm 728pp 57 tables 0 521 58434 5 Hardback £50.00 67 figures 0 521 58605 4 Paperback £19.99 0 521 79018 2 Hardback £80.00 0 521 79367 X Paperback £30.00

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TEXTBOOK FORTHCOMING NEW Public Choice III Social Choice and the Macrojustice Third edition Mathematics of The Political Economy of Dennis C. Mueller Manipulation Fairness Universität Wien, Austria Serge-Christophe Kolm Alan D. Taylor Ecole des Hautes Etudes en Sciences Sociales, Contents: Part I. Origins of the State; Union College, New York Paris Part II. Public Choice in a Direct Honesty in voting, it turns out, is not Democracy; Part III. Public Choice in The main features of the just society, as always the best policy. This is a book for they would be chosen by the a Representative Democracy; mathematicians, political scientists, Part IV.Applications and Testing; unanimous, impartial and fully informed economists and philosophers who want judgment of its members, present a Part V. Normative public choice; to understand the sense in which it is Part VI. What Have We Learned?. remarkable and simple meaningful impossible to devise a reasonable structure. In this society, individuals’ ‘Like all the others, this volume will voting system in which voters can never freedom is fully respected, and overall become the first point of reference – gain by submitting a disingenuous redistribution amounts to an equal the ‘bible’ – for all scholars in the field, ballot. With the exception of the last both the experts and the more casual sharing of individuals’ different earnings samplers. It represents an amazing chapter, the book is completely self- obtained by the same limited effort, even more extraordinary than contained, and requires no prerequisites ‘equalization labour’. This also amounts the earlier versions. The profession is except a willingness to follow rigorous to general balanced reciprocity, where deeply in Mueller’s debt.’ mathematical arguments. each individual yields to each other the Geoffrey Brennan, Australian National University Outlooks proceeds of the same labour. The 2003 228 x 152 mm 788pp 2005 228 x 152 mm 192pp concept of equalization labour is a 120 line diagrams 75 tables 3 line diagrams 80 exercises 0 521 81546 0 Hardback £90.00 0 521 81052 3 Hardback £40.00 measure of the degree of community, 0 521 89475 1 Paperback £33.00 0 521 00883 2 Paperback £14.99 solidarity, reciprocity, redistribution, and Publication May 2005 equalization of the society under consideration. It is determined by a TEXTBOOK The Search for number of methods presented in this The Dynamics of American Political study, which also emphasizes the Coercion rationality, meanings, properties, and American Foreign Policy and the Development ways of practical implementation of this Limits of Military Might Karen Orren optimum distribution. This result is Daniel L. Byman University of California, Los Angeles compared with the various distributive and Matthew C. Waxman and Stephen Skowronek principles found in practice and in Yale University, Connecticut This book examines why some attempts political, philosophical, and economic A justification for studying politics to strong-arm an adversary work while thinking, with the conclusion that most historically, not only for what it reveals others do not. have their proper specific scope of about the roots of contemporary application. The analytical presentation Contents: 1. Introduction; Part I. Coercive political affairs but what it teaches of the social ethics of economics is Strategy Making: 2. The theory of coercion; about politics as an ongoing activity in 3. Coercive Mechanisms; 4. Coercive particularly enlightening. time, anytime. The authors survey past instruments; Part II. The Context of Coercion 2005 228 x 152 mm 512pp 5 line diagrams Today: 5. Domestic politics and coercion; and current scholarship, attempting to outline a course of study for the future. 0 521 83503 8 Hardback £70.00 6. Coercion and coalitions; 7. Humanitarian Publication February 2005 coercion and non-state actors; 8. Weapons 2004 228 x 152 mm 246pp of mass destruction and US coercion; 0 521 83894 0 Hardback £45.00 Part III. The Future of US Coercion. 0 521 54764 4 Paperback £16.99 Free Market RAND Studies in Policy Analysis Democracy and the 2002 228 x 152 mm 298pp Holding China 3 line diagrams 2 tables Chilean and Mexican 0 521 80991 6 Hardback £50.00 Together Countryside 0 521 00780 1 Paperback £23.99 Diversity and National Marcus J. Kurtz Integration in the Post-Deng Era Ohio State University Edited by Barry J. Naughton University of California, San Diego This book examines the relationship and Dali L. Yang between free markets and democracy. It University of Chicago demonstrates how the implementation Despite predictions of collapse, China of even very painful free market has sustained unity and gained economic reforms in Chile and Mexico international stature since the have helped to consolidate democratic Tiananmen crisis of 1989. This volume politics without at the same time addresses the ‘fragmentation/ engendering a backlash against either disintegration thesis’ and examines the reform or democratization. 2004 228 x 152 mm 264pp 22 tables sources and dynamics of China’s 0 521 82737 X Hardback £45.00 resilience. Through theoretically informed empirical studies, the authors consider key institutions for political integration and economic governance. 2004 228 x 152 mm 316pp 10 line diagrams 35 tables 1 map 0 521 83730 8 Hardback £45.00 Visit our website at www.cambridge.org 26 Law and Economics

The Politics of High- Law and FORTHCOMING Tech Growth Intellectual Property Developmental Network States Economics Economic and Legal Dimensions in the Global Economy of Rights and Remedies Sean O’Riain Roger D. Blair National University of Ireland, Maynooth GRADUATE TEXTBOOK University of Florida The book provides a detailed study of Law in a Market and Thomas F. Cotter the software industry in Ireland, of the Context University of Florida state policies that promoted it, the An Introduction to Market Intellectual property refers to exclusive political institutions which made that Concepts in Legal Reasoning rights in, among other things, inventions possible and of how similar institutions Robin Paul Malloy (patents), works of authorship have been central to other high tech Syracuse University, New York (copyright), and source-identifying regions in Taiwan, Israel and elsewhere. ‘In Law in a Market Context, Robin Paul symbols (trademarks). Intellectual Structural Analysis in the Social Sciences, 23 Malloy has effected an important, property law is generally viewed as a 2004 228 x 152 mm 288pp innovative, and thorough means for inducing the optimal supply 7 line diagrams 27 tables reinterpretation of the dominant model 0 521 83073 7 Hardback £45.00 of inventions, works, and symbols. of law and economics by ‘reframing’ Economics provides some useful tools the market and exchange processes in for determining whether the legal rules The Rational Design terms of creativity, discovery, and community. As someone who writes in at issue are more or less likely to of International the areas of critical race and feminist achieve this goal. This book in particular Institutions theory, I find Malloy’s approach to be addresses the law and economics of a Edited by Barbara Koremenos particularly useful because it provides variety of topics that have been University of California, Los Angeles critical scholars who are concerned underanalyzed in the existing literature. Charles Lipson with issues of social justice and 2005 228 x 152 mm 312pp University of Chicago equality with a new and theoretically 17 line diagrams 1 table sophisticated way to understand and 0 521 83316 7 Hardback c. £40.00 and Duncan Snidal reckon with the market. Law in a 0 521 54067 4 Paperback c. £16.99 University of Chicago Market Context should find its way on Publication May 2005 International institutions vary widely in to every critical scholar’s reading list.’ terms of key institutional features such Professor Emily Houh, University of Cincinnati, FORTHCOMING as membership, scope, and flexibility. USA This books argues that this is so Contents: Preface; Acknowledgements; International Public because international actors are goal- Notes on citations; Table of cases; Goods and Transfer of Introduction; 1. Understanding the seeking agents who make specific Technology Under A institutional design choices to solve the contested meaning of markets; 2. The law and market economy framework; 3. Market particular cooperation problems they Globalized Intellectual concepts of exchange; 4. Additional Property Regime face in different issue-areas. economic concepts for law and market International Organization economy; 5. The not-for-profit exchange Edited by Keith Maskus 2004 228 x 152 mm 364pp context; 6. Parting thoughts; Index. University of Colorado, Boulder 0 521 53358 9 Paperback £21.99 2004 228 x 152 mm 280pp and Jerome H. Reichman 0 521 81624 6 Hardback £45.00 Duke University, North Carolina Global Collective 0 521 01655 X Paperback £16.99 Distinguished economists, political Action scientists, and legal experts discuss the FORTHCOMING implications of the increasingly Todd Sandler globalized protection of intellectual University of Southern California Regulatory Bargaining property rights for the ability of Why has the global community been and Public Law countries to provide their citizens with successful in correcting some recent Jim Rossi such important public goods as basic large-scale problems, but not others? This Florida State University research, education, public health, and book discusses challenges drawn from In this book, Professor Rossi explores environmental protection. This is the the fields of global health, security, the the promise and role of public law for first book to assess the public processes environment, and governance. The deregulated network industries, such as and inputs that an emerging analysis reaches from antibiotic-resistant electric power and telecommunications. transnational system of innovation will microbes to greenhouse gases, from civil Leading media accounts blame need to promote technical progress, wars to international terrorism, from deregulated markets for failures in economic growth and welfare for all polluted urban atmospheres to the depths competitive restructuring policies. In participants. of outer space. In the process, the reader contrast, the author argues that 2005 228 x 152 mm 650pp 9 tables learns what ties together seemingly governmental institutions, often 16 figures different problems, and what 0 521 84196 8 Hardback c. £130.00 influenced by private stakeholders, share distinguishes seemingly similar concerns. 0 521 60302 1 Paperback c. £45.00 blame for the defects in deregulated Publication May 2005 The book is intended for a wide audience markets in the United States. drawn from the social and policy sciences. 2005 228 x 152 mm 272pp 2004 228 x 152 mm 314pp 0 521 83892 4 Hardback c. £35.00 20 line diagrams 22 tables Publication July 2005 0 521 83477 5 Hardback £40.00 0 521 54254 5 Paperback £17.99 Industrial Organization and Labour Economics 27

TEXTBOOK Social Citizenship and The Economics of Antitrust Law Workfare in the United Contracts Economic Theory and Common States and Western Theories and Applications Law Evolution Europe Edited by Eric Brousseau Université de Paris XI Keith N. Hylton The Paradox of Inclusion Boston University and Jean-Michel Glachant Joel F. Handler Université de Paris XI This book is an effort to consolidate University of California, Los Angeles A comprehensive and up-to-date several different perspectives on This book compares workfare policies in synthesis of the economic analysis of antitrust law. the United States and Western Europe contracts, written by leading ‘… this book is, quite simply, the best I that are aimed at the ‘workless’ international scholars. The book offers a have ever encountered to deal with US population. The Europeans maintain unique combination of theoretical and law. It is, in a nutshell, superb, and I that workfare is the best method of applied economics along with insights wish it had been published six months bringing the socially excluded back into ago.’ from law and management sciences, mainstream society. Although there are European Competition Law Review appealing to scholars, graduate students differences in terms of ideology and 2003 228 x 152 mm 430pp and practitioners in economics, practice, Joel F. Handler argues that 14 line diagrams management and law. 0 521 79031 X Hardback £60.00 there are also significant similarities, 0 521 79378 5 Paperback £22.99 2002 228 x 152 mm 600pp especially field-level practices that serve 7 line diagrams 16 tables 5 graphs to exclude the most vulnerable. The 0 521 81490 1 Hardback £75.00 Security Rights in author examines strategies for reform 0 521 89313 5 Paperback £28.00 Movable Property in and concludes with an argument for a basic income guarantee. European Private Law Cambridge Studies in Law and Society Industrial Edited by Eva-Maria Kieninger 2004 228 x 152 mm 330pp Bayerische-Julius-Maximilians-Universität 0 521 83370 1 Hardback £55.00 Würzburg, Germany 0 521 54153 0 Paperback £19.99 Organization Assisted by Michele Graziadei George L. Gretton and Labour FORTHCOMING Cornelius G. van der Merwe Economics and Matthias E. Storme The Regulation of Surveys the law relating to secured International Financial transactions in all member states of the Markets FORTHCOMING EU. Following the Trento ‘Common Perspectives for Reform The Economics of Core’ approach, the national reports are Edited by Rainer Grote Mobile centered around 15 hypotheticals Max-Planck-Institut für ausländisches dealing with the most important issues. öffentliches Recht und Völkerrecht, Germany Telecommunications Each case is followed by a comparative and Thilo Marauhn Harald Gruber Justus-Liebig-Universität Giessen, Germany European Investment Bank summary. A general report evaluates the possibilities of European harmonisation. International financial relations are This research-based survey offers a The Common Core of European Private Law increasingly important for both global comprehensive economic analysis of the 2004 228 x 152 mm 826pp and national economies. These relations main determinants of growth in the 0 521 83967 X Hardback £95.00 are at present primarily governed by mobile telecommunications industry. market forces with little international Detailed country studies provide The Impact of regulatory interference. Collaborators empirical evidence for the development consider this absence of regulation. Of of the main themes. International Law on interest to scholars and practitioners ‘This book is a valuable contribution to International involved with comparative public law, increasing the understanding of the Cooperation constitutional economics and financial development of mobile Theoretical Perspectives regulation. communications. It will be a useful Edited by Eyal Benvenisti 2005 228 x 152 mm 288pp reference for policy makers, industry Tel-Aviv University 0 521 83144 X Hardback c. £45.00 players, academics and anyone Publication September 2005 interested in the economic and Moshe Hirsch underpinnings of the pervasive mobile Hebrew University of Jerusalem phenomenon.’ This book explores the influences Dr Sam Paltridge, Directorate for Science, international norms and international Technology and Industry, OECD institutions have over the incentives of ‘Harald Gruber has combined economic states to cooperate on issues such as theory and empirical evidence with environment and trade. Contributors real-world telecom know-how to adopt two different approaches in produce an outstanding book. This is the first authoritative and examining this question and suggest comprehensive study of mobile ways for enhancing states’ incentives to telephony. It deserves to be widely cooperate through the design of norms read by scholars and business people and institutions. with an interest in this exciting 2004 228 x 152 mm 330pp 6 figures industry.’ 0 521 83554 2 Hardback £55.00 Tommaso M. Valletti, Tanaka Business School, Imperial College London

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‘Technological changes in the Sectoral Systems of Technology, Television, telecommunications sector have made feasible a transition from a policy of Innovation and Competition regulating monopoly to one of Concepts, Issues and Analyses of The Politics of Digital TV regulating competition, through Six Major Sectors in Europe Jeffrey A. Hart allocation of property rights in the Edited by Franco Malerba Indiana University spectrum, as a policy to obtain good Università Commerciale Luigi Bocconi, Milan In the late 1980s and 1990s, the market performance. Mobile This volume provides a novel way of advanced industrial countries considered telecommunications is on the frontier examining innovation in sectors by replacing the existing analog television of this transition, and The Economics of Mobile Telecommunications proposing the framework of sectoral infrastructure with a new digital one. documents and analyzes the systems of innovation. It analyses the Hart’s book shows how nationalism and technological and institutional factors innovation process, the factors affecting regionalism produced incompatible that determine performance in this innovation, the changing boundaries standards in the US, Japan and Europe, industry. It will be an invaluable and transformation of sectors, and the and led to missed opportunities in contribution to the literature.’ determinants of the innovation developing new technologies. Stephen Martin, Krannert School of performance of firms and countries in 2004 228 x 152 mm 262pp Management, Purdue University different sectors. 0 521 82624 1 Hardback £40.00 2005 228 x 152 mm 370pp 51 tables 47 figures 2004 228 x 152 mm 536pp 28 tables 0 521 84327 8 Hardback c. £45.00 7 graphs 3 figures Regulation and Publication May 2005 0 521 83321 3 Hardback £60.00 Entry into Telecommunications NEW The Economics of Self-Employment and Markets A Sociology of Work in Entrepreneurship Paul de Bijl Japan Ministry of Finance, The Hague Simon C. Parker and Martin Peitz Ross Mouer University of Durham Monash University, Victoria Deutsche Forschungsgemeinschaft and Hirosuke Kawanishi Simon C. Parker provides a timely and ‘Paul de Bijl and Martin Peitz Waseda University, Japan comprehensive overview of self- substantially expand our A comprehensive survey of the employment and entrepreneurship in our understanding of corporate strategies modern economy. Bringing together and and regulatory trade-offs in the relationship between work and society telecommunications industry. Using a in Japan explores the context for assessing the large and disparate literature on the subject, he explores key rigorous analytical framework, they individual choices about work. These guide us through the early issues in the field and provides an up-to- include the structuring of labour liberalization stage toward markets, social policy and the influences date overview of new research findings. competition in a mature market. This 2004 228 x 152 mm 342pp 8 tables of globalization. The book affords insightful and comprehensive book is 6 graphs essential reading for all academics, penetrating insights into Japanese 0 521 82813 9 Hardback £45.00 consultants and industry professionals society and challenges current thinking concerned with telecommunications.’ on the subject. Jean Tirole, University of Toulouse Contemporary Japanese Society Employment Policy ‘In summary, this well-written and 2005 228 x 152 mm 323pp 56 tables and the Regulation of logically organized book provides 7 figures 0 521 65120 4 Hardback £40.00 Part-time Work in the many useful insights for policymakers, 0 521 65845 4 Paperback £18.99 European Union industry consultants, and academics Publication April 2005 A Comparative Analysis alike. Although the formal analysis abstracts from many issues of Edited by Silvana Sciarra substantial practical importance, the Università degli Studi, Florence The Economics of models analyzed in the book (and the Paul Davies Overtime Working additional simulations that readers can London School of Economics and Political explore on their own) are unusually Robert A. Hart Science rich and capture many essential University of Stirling and Mark Freedland features of regulation and competition Numerous individuals throughout University of Oxford in network industries.’ international labour markets work hours Part-time work has been the fastest David Sappington, Journal of Economic in excess of their standard contractual growing of all forms of ‘non-standard’ Literature hours. Professor Hart presents the first work. All Member States of the 2003 228 x 152 mm 288pp 1 line diagram 48 tables 35 graphs comprehensive economic evaluation of European Union have given increasing 0 521 80837 5 Hardback £50.00 this phenomenon, examining theoretical, attention to its regulation over the past empirical and policy aspects of overtime quarter century. This book examines the hours and pay, including comparison of influence of European Community rules international evidence from the United and procedures on the development by States, Western Europe and Japan. Member States of their policies towards 2004 228 x 152 mm 180pp 12 tables part-time working. It consists of an 38 graphs analysis of the relevant EU rules, a 0 521 80142 7 Hardback £45.00 0 521 80528 7 Paperback c. £21.99 consideration of the national policies and the impact upon them of the EU provisions, and a suggested framework for the identification of these influences. 2004 228 x 152 mm 386pp 8 tables 3 graphs 0 521 84002 3 Hardback £55.00 Business and Management 29

NEW • Dedicated web site providing answers FORTHCOMING to discussion questions, extra data, A Concise Handbook executive summaries International Business of Movie Industry Contents: 1. Introduction; 2. Regional and Government Economics multinationals: the data; 3. Two regional Relations in the 21st Edited by Charles C. Moul strategy frameworks; 4. Regional and global Century strategies of multinational enterprises; Washington University, St Louis Edited by Robert Grosse 5. Retail multinationals; 6. Banking This volume offers a broad overview of Thunderbird American Graduate School of multinationals; 7. Pharmaceutical and International Management, Arizona what is known and what remains to be chemical multinationals; 8. Automobile learned about the movie industry from a multinationals; 9. Profits of leading This book offers an outlook on relations variety of perspectives. Questions multinational enterprises; 10. Analysis of between national governments and include: What factors affect a movie’s the regional and global strategies of large multinational companies that provides theatrical run? How does the theatrical firms; 11. Regional multinationals and broad coverage of the key issues likely run affect the demand for video? What government policy; 12. Regional to determine that relationship in the types of movies are most profitable? multinationals: the new research agenda; new century. From the perspective of How informative are movie accounting Appendix A; References; Index. the company decision maker concerned figures? What theaters have the most 2005 247 x 174 mm 288pp 51 tables with national regulation, to the host 18 figures appeal to consumers? By answering 0 521 84265 4 Hardback £45.00 government policymaker in an emerging these questions and suggesting many 0 521 60361 7 Paperback £19.99 market, to the home government others, this short handbook helps the policymaker in a Triad country, each reader reach a deeper understanding of dimension is considered and analyzed in FORTHCOMING the economics of movies. light of the others. As well, additional 2005 228 x 152 mm 224pp The Rise of Spanish stakeholders such as labor groups are 30 line diagrams 16 tables discussed and their impacts on the 0 521 84384 7 Hardback £25.00 Multinationals Publication April 2005 European Business in the Global relationship are evaluated. Economy 2005 228 x 152 mm 544pp Mauro Guillén 0 521 85002 9 Hardback c. £30.00 Publication July 2005 Wharton School, University of Pennsylvania Business and Since 1992, Spanish companies in a Management variety of industries have acquired a FORTHCOMING TEXTBOOK prominent presence in the global Managerial Economics economy, especially in Latin America A Problem-Solving Approach HIGHLIGHT and Europe. Mauro Guillén offers not Nick Wilkinson only an explanation of why this has NEW GRADUATE TEXTBOOK Richmond: The American International University happened, but also an assessment of in London The Regional the economic, financial, political and This textbook covers all the main aspects Multinationals social consequences for Spain and for of managerial economics: the theory of MNEs and ‘Global’ Strategic Europe. Concludes with the argument the firm; demand theory and estimation; Management that the Spanish multinational firms production and cost theory and Alan Rugman ought to consolidate their European estimation; market structure and pricing; Indiana University and University of Oxford positions through mergers and game theory; investment analysis and Many firms label themselves ‘global’ but acquisitions, perhaps as a springboard government policy. It includes numerous very few can back this up with to further expansion in North America and extensive case studies, as well as worldwide sales and operations. The and Asia. review questions and problem-solving Regional Multinationals authoritatively 2005 228 x 152 mm 268pp sections, providing the reader with an shows that most multinationals are in 14 colour plates 8 figures 0 521 84721 4 Hardback c. £35.00 understanding of how the relevant fact strongly regional and that only a Publication June 2005 principles can be applied to real-life tiny percentage of the world’s top 500 situations involving managerial decision- companies sell the same product and making. This book will be invaluable to deliver the same services globally. business and economics students at Rugman exposes the facts behind the both undergraduate and graduate levels. popular myths of doing business ‘A thoughtful and well-written text globally, explores a variety of regional which explains key concepts in a models and offers an authoritative rigorous and accessible way. A agenda for future business strategy. An particular strength is the rich essential resource for academics and collection of applications and case advanced students in management. studies which demonstrate the value of the economic approach to many • Detailed international cases include management problems and decisions. Starbucks, McDonald’s, Nike, Wal- The well-designed solved problems Mart, Carrefour, Volkswagen, Toyota, demonstrate how the analytical Honda, IBM, Canon, Coca-Cola, techniques can be applied and will be Flextronics, LVMH particularly valuable in helping students to connect theory with • Unrivalled access to data from a practice and to solve problems for range of industries including health themselves. A very useful addition to care, banking and financial services, the field.’ professional services, manufacturing Martin Carter, Leeds University Business School

Visit our website at www.cambridge.org 30 Business and Management

“This is an exhaustive study of FORTHCOMING Global IT Outsourcing managerial economics with well- Software Development across chosen case studies and clear Corporate Integrity Borders explanations from an experienced Rethinking Organizational Ethics Sundeep Sahay teacher.” and Leadership Universitetet i Oslo John Mark, King’s College London Marvin T. Brown Brian Nicholson Contents: Part I. Introduction: 1. Nature, University of San Francisco University of Manchester scope and methods of managerial What do corporations look like when and S. Krishna economics; 2. Theory of the firm; they have integrity, and how can we Indian Institute of Management, Bangalore Part II. Demand Analysis: 3. Demand theory; 4. Demand estimation; Part III. Production move more companies in that direction? This book offers key insights into how to and Cost Analysis: 5. Production theory; Corporate Integrity offers timely, manage software development across 6. Cost theory; 7. Cost estimation; practical yet reflective insights into international boundaries. Based on a Part IV. Strategy Analysis: 8. Market integrity from the perspectives of series of case studies looking at structure and pricing; 9. Game theory; organizational design, communication, relationships between firms from North 10. Pricing strategy; 11. Investment analysis; working relationships, and leadership America, the UK, Japan and Korea with 12. Government and managerial policy. style. Cultural, interpersonal, Indian software houses, the authors 2005 247 x 174 mm 560pp 85 figures organizational, civic and environmental offer constructive advice on how to 0 521 81993 8 Hardback c. £70.00 contexts are brought together, showing 0 521 52625 6 Paperback c. £30.00 manage GSAs more effectively. Publication May 2005 how businesses can create 2003 247 x 174 mm 282pp 5 figures communication patterns enabling 0 521 81604 1 Hardback £45.00 responsible approaches. Essential FORTHCOMING reading for business professionals, The INSEAD-Wharton Performance at the executives and graduate students Alliance on Globalizing Limit looking for practical and reflective expertise on how business can be Strategies for Building Business Lessons from Formula Successful Global Businesses One Racing organised for integrity and purpose as well as effectiveness. Edited by Hubert Gatignon Mark Jenkins INSEAD, Fontainebleau University of Nottingham 2005 228 x 152 mm 200pp 31 figures 0 521 84481 9 Hardback c. £50.00 and John R. Kimberly Ken Pasternak 0 521 60657 8 Paperback c. £19.99 Wharton School, University of Pennsylvania and Richard West Publication April 2005 With Robert E. Gunther This is a book for managers, consultants Gunther Communications and students of business and NEW The INSEAD-Wharton Alliance examines management who are seeking to the forces that are driving firms to understand and improve the The Outsourcing globalize, the consequences – positive performance of their organization. We Process and negative – that accompany use Formula 1 motorsport as an example Strategies for Evaluation and increasing globalization, and their of how business can achieve optimal Management managerial and political implications. performance at all levels – individual, Ronan McIvor Written by experts from both INSEAD team, partnership and organisation. The University of Ulster and Wharton, it offers a timely, non- book describes many of the challenges Outsourcing has become one of the key partisan treatment of these increasingly facing Formula 1 teams and illustrates drivers to improved competitiveness for important issues. these through concepts and case studies organisations, especially in regions • First time that world-class experts to provide an overall understanding of where labour costs are high. This book from the renowned INSEAD-Wharton performance at the limit. provides a framework for an up-to-date Alliance combine on this important 2005 228 x 152 mm 224pp 16 half-tones understanding of the outsourcing contemporary subject 16 colour plates 5 tables 10 figures process. It integrates a number of 0 521 84400 2 Hardback c. £25.00 • Controversial, central topic for contemporary outsourcing topics, Publication July 2005 managers as well as business including benchmarking, buyer-supplier professors and graduate students relationships, organisational behaviour, competitor analysis and technology • Covers the key debates over influences. The author starts by globalization in key management providing guidelines as to when fields and also offers practical angle outsourcing is appropriate and what its of what globalizing means for implications will be before moving on to business in practice explain how outsourcing is 2004 228 x 152 mm 474pp 15 tables 20 graphs 14 figures implemented. Ideal for use by 0 521 83571 2 Hardback £25.00 postgraduate students, researchers and industry managers. 2005 247 x 174 mm 310pp 31 line diagrams 27 tables 0 521 84411 8 Hardback c. £40.00 Publication April 2005 Business and Management 31

NEW NEW ‘The health care sector of the developed world’s economies has The Entrepreneurial The New Community become one of the most significant in Shift Firm terms of both cost and human benefits Americanization in European created. The authors have done an Takeshi Inagami excellent job of providing a clear High-Technology Management University of Tokyo understanding of the basic industry Education and D. Hugh Whittaker platforms that create both the product Robert R. Locke Doshisha Business School innovation and their associated benefits University of Hawaii, Manoa Following the troubled 1990s, Whittaker and costs. The book also provides and Katja E. Schöne and Inagami explore the changes in valuable insights as to how the diverse This is a provocative and intelligent employment practices, corporate segments converge to create the study of management education in the governance and management priorities, rapidly changing health care experience impacting both patients and payors.’ light of high technology entrepreneurial drawing on rich original data and James Vincent, Chairman and CEO (ret.), Biogen developments in the wider business providing in-depth analysis of Hitachi, a ‘All sectors of the healthcare products context. Original in concept, and leading electric company and enterprise industry are not the same. The Business containing new research data, the book group. Ideal reading for readers looking of Healthcare Innovation provides an is of interest to academics, students and for fresh perspectives on the future of interesting primer on the various practitioners. Japanese business. product categories while framing key 2004 228 x 152 mm 264pp 16 tables 2005 228 x 152 mm 294pp 29 tables questions regarding the future 2 figures 16 figures evolution of this fascinating industry.’ 0 521 84010 4 Hardback £45.00 0 521 84370 7 Hardback £45.00 Arthur D. Collins, Jr., Chairman & Chief Executive Officer, Medtronic, Inc. ‘This book presents a concise analysis NEW FORTHCOMING of the factors influencing innovation in The Economics of The Business of the health supplier sector. It is highly recommended for programs in health Franchising Healthcare Innovation services management and will also be Roger D. Blair Edited by Lawton Robert Burns of interest to health care executives University of Florida University of Pennsylvania seeking to obtain a deeper and Francine Lafontaine The Business of Healthcare Innovation is understanding of the supplier side of University of Michigan, Ann Arbor the first wide-ranging analysis of business the industry.’ It describes both how and why Stephen M. Shortell, Ph.D., Dean, School of trends in the manufacturing segment of Public Health, UC – Berkeley franchising works. It also analyses the the health care industry, focusing on the 2005 246 x 189 mm 300pp 126 figures economic tensions that contribute to key but often neglected role of the 0 521 83898 3 Hardback c. £50.00 conflict in the franchisor-franchisee ‘producers’ in health systems. Professors 0 521 54768 7 Paperback c. £20.00 relationship. The book includes a great of the Wharton School and industry Publication August 2005 deal of empirical evidence on executives provide a detailed overview of franchising not available anywhere else. the pharmaceutical, biotechnology, Time for a Model The economic analysis of the franchisor- genomics/proteomics, medical device and franchisee relationship begins with the Change information technology sectors. This book Re-engineering the Global observation that for franchisors, will be essential reading for students and Automotive Industry franchising is a contractual alternative researchers in the field of health Graeme P. Maxton to vertical integration. Subsequently, management, and of great interest to and John Wormald various sources of tension between strategy scholars, industry practitioners franchisors and franchisees are and management consultants. This book is about a great industry that affects us all, detailing its development examined in turn, including issues ‘Never has the need for a reasoned related to product quality control, tying analysis of the business of healthcare and how it works today, what it arrangements, pricing, location and innovation been greater. The costs of contributes to society and what it costs. territories, advertising, and termination innovation have been escalating steadily The authors make wide-ranging and renewals. for decades and the willingness and recommendations for changes which 2005 228 x 152 mm 344pp ability of society to fund ongoing must be made within the industry, both 16 line diagrams 31 tables innovation is under strain. At the same to safeguard future prosperity and to 0 521 77252 4 Hardback £25.00 time, as healthcare becomes increasingly satisfy its many stakeholders. Taking a Publication June 2005 complex those participating – basic and discovery scientists, product developers, holistic view rather than a single-issue providers, and those involved in approach, and enjoying privileged regulating, managing and funding the access to data from the best-known system – become more specialized and firms, the book offers new and practical find it harder to understand the industry insights into the future of this vital yet as a whole. Yet the components of the often embattled business. system are not independent of one 2004 247 x 174 mm 294pp 1 half-tone another and we ignore the inter- 192 figures relationships at our peril. This badly 0 521 83715 4 Hardback £25.00 needed volume will be a compelling read for those directly involved in healthcare, for students aspiring to enter the system, and for the rest of us who one way or another collide with the system more often than we might like.’ Dr. Peter A. Tollman, Vice President and Director, The Boston Consulting Group

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NEW TEXTBOOK The Role of Business in NEW Economic Policy in the Fostering Peaceful Conflicts of Interest Age of Globalization Societies Challenges and Solutions in Business, Law, Medicine, and Nicola Acocella Timothy L. Fort Università degli Studi di Roma ‘La Sapienza’, University of Michigan, Ann Arbor Public Policy Italy and Cindy A. Schipani Edited by Don A. Moore University of Michigan, Ann Arbor Carnegie Mellon University, Pennsylvania In this textbook, Professor Nicola Daylian M. Cain Acocella analyses both the principles A fresh approach to understanding Carnegie Mellon University, Pennsylvania and techniques of public intervention in business in its social context. In contrast to the assumptions behind anti- George Loewenstein the global economy. This book is aimed Carnegie Mellon University, Pennsylvania at students who have completed an globalization protests, the book contends that businesses which and Max Bazerman introductory course in micro and Harvard University, Massachusetts macroeconomics. embrace their role in the community, work across cultures, promote economic This collection explores the subject of Contents: Preface; List of symbols; development and invite external conflicts of interest. It investigates how 1. Introduction; Part I. The Market, Efficiency to manage conflicts of interest, how and Equity: 2. Market failures: evaluation of their affairs can in fact they can affect well-meaning microeconomic aspects; 3. Market failures: foster a peaceful society. macroeconomic aspects; Part II. Normative 2004 228 x 152 mm 244pp 5 tables professionals, and how they can limit and Positive Theory of Economic Policy: 0 521 83262 4 Hardback £40.00 the effectiveness of corporate boards, 4. The normative theory of economic policy; undermine professional ethics, and 5. Government failures: elements of a corrupt expert opinion. Legal and policy TEXTBOOK positive theory of economic policy; Part III. responses are considered, some of Microeconomic Policies: 6. Property rights, Performance and which (e.g., disclosure) are shown to corporate governance and public Rewards Management backfire and even fail. The results offer enterprises; 7. Competition policies. Policies An Introduction to the Theory a sobering prognosis for professional for externalities and public goods; and Practice of Strategic ethics and for anyone who relies on 8. Industrial and regional policies. Remuneration Management professionals who have conflicts of Redistributive policies; 9. Social choice and cost-benefit analysis; John Shields interest. Part IV. Macroeconomic Policies: University of Sydney 2005 228 x 152 mm 312pp 10. Macroeconomic schemes of analysis in Performance and Rewards Management 10 line diagrams 12 tables 0 521 84439 8 Hardback £40.00 an open economy; 11. Macroeconomic critically examines contemporary theory Publication May 2005 objectives and monetary policy; and practice in these central fields of 12. Macroeconomic objectives and fiscal human resource management (HRM), policy; 13. Incomes and price policies; providing a comprehensive overview of TEXTBOOK 14. Balance of payments policies; 15. Trade the key concepts and topics. The book policies: free trade and protectionism; Quantitative Models in Part V. Private and Public Institutions in encourages students to form a critical Marketing Research understanding of the debates it raises by an International Setting: 16. Monetary Philip Hans Franses systems and exchange rate regimes; providing an overview of the alternatives. Erasmus Universiteit Rotterdam 17. Development and trade organisations; Contents: Part I. Conceptual and Richard Paap 18. Regional public institutions: the Foundations; Part II. Performance Erasmus Universiteit Rotterdam European Union; Part VI. Globalisation and Management Methods and Processes; the Quest for a New Institutional Setting: Presents the most important and 19. The internationalisation of private Part III. Building Base Pay; practically relevant quantitative models institutions: the globalisation of markets Part IV. Rewarding Performance; used for marketing research. and production; 20. The challenges of Part V. Integration and Evaluation. Contents: 1. Introduction and outline of globalisation for public policies; List of 2003 250 x 176 mm 320pp the book; 2. Features of marketing research references; List of boxes; Author index; 0 521 82046 4 Hardback c. £30.00 data; 3. A continuous dependent variable; Subject index. 4. A binomial dependent variable; 5. An 2005 247 x 174 mm 537pp 33 tables GRADUATE TEXTBOOK unordered-multinomial dependent variable; 54 figures 6. An ordered-multinomial dependent 0 521 83282 9 Hardback £50.00 Strategy and variable; 7. A limited dependent variable; 0 521 54038 0 Paperback £24.99 8. A duration dependent variable; Appendix. Publication February 2005 Organization Realizing Strategic Management 2001 247 x 174 mm 220pp 25 tables 28 figures Loizos Heracleous 0 521 80166 4 Hardback £40.00 University of Oxford Loizos Heracleous offers a fresh approach to established ideas of strategic management, emphasising the importance of organisational culture in realising strategy in such areas as corporate governance and the impact of the Internet. The strong applied orientation makes this book ideal for MBA students, researchers and the more thoughtful practitioner. 2003 228 x 152 mm 252pp 18 line diagrams 17 tables 0 521 81261 5 Hardback £50.00 0 521 01194 9 Paperback £18.99 Economic History 33

Creating a Learning Economic FIRST IN NEW SERIES Culture Private and Public Strategy, Technology, and History Practice Enterprise in Europe Energy, Telecommunications and Edited by Marcia L. Conner Transport, 1830–1990 University of Virginia FORTHCOMING and James G. Clawson Robert Millward University of Virginia Central Bank University of Manchester Creating a Learning Culture is for Cooperation at the This is the first comparative history of business leaders and educators seeking Bank for International the economic organisation of energy, innovative approaches to cultural Settlements, telecommunications and transport in transformation, putting learning at the 1930–1973 Europe. It examines the role played by center of their corporate strategy. private and public enterprise in the Gianni Toniolo construction and operation of these Chapters on strategy, practice, and Università degli Studi di Roma ‘Tor Vergata’ sectors from the arrival of the railways technology demonstrate how to achieve With Piet Clement swift returns and lasting results by in the 1830s to the eve of privatisation The Bank for International Settlements, encouraging learning at all levels of the in the 1980s. It argues that the driving established in Basel (Switzerland) in organization day-to-day. forces in changes in economic 1930, is the oldest among today’s 2004 228 x 152 mm 374pp organisation were economic and 3 line diagrams 4 tables 16 figures international economic institutions. The technological rather than ideological 0 521 83017 6 Hardback £65.00 book explores the history over time of a factors and traces their influence in 0 521 53717 7 Paperback £22.99 small group of international civil shaping the pattern of regulation and servants and central bankers and of the ownership of these key sectors of Rethinking failures and successes in cooperating to modern economies. produce a stable and efficient system of Cambridge Studies in Economic History – Performance international payments through the end Second Series Measurement of the Bretton Woods agreements. It 2005 228 x 152 mm 354pp 33 tables Beyond the Balanced Scorecard shows both the great potential 18 figures 1 map Marshall W. Meyer 0 521 83524 0 Hardback c. £50.00 advantages of multilateral monetary Publication June 2005 Wharton School, University of Pennsylvania cooperation and the enormous A major new study by a leading difficulties met even by people of good- management scholar from top-ranked will in its achievement. NEW Wharton School of Business on Studies in Macroeconomic History France in Crisis problems of performance measurement 2005 228 x 152 mm 704pp Welfare, Inequality, and 7 line diagrams 32 half-tones 5 tables systems. Highlights particular Globalization since 1980 0 521 84551 3 Hardback c. £60.00 shortcomings of the widely adopted Publication June 2005 Timothy B. Smith ‘balanced scorecard’ technique. Outlines Queen’s University, Ontario an alternative approach capturing European Integration, France is in crisis. In this provocative fundamentals of firm performance. new book, Timothy Smith argues that Essential reading for management 1950–2003 the French economic and social model is faculty, MBA students and thoughtful Superstate or New Market collapsing inward on itself, the result of practitioners. Economy? good intentions, bad policies, and ‘This book is a must-buy for any senior John Gillingham vested interests who employ the University of Missouri, St Louis managers of service firms that aspire rhetoric of ‘solidarity’ and the specter of to have their companies survive and ‘… as close to gripping as an academic globalization to prevent change. prosper even as competition inevitably history of European integration is ever Professor Smith makes frequent increases.’ likely to get … The fact that Professor Ian MacMillan, Wharton School of Gillingham hails from the United comparisons with the USA, UK, Canada, Management, University of Pennsylvania States should not fool readers into Scandinavia, Germany and the 2003 228 x 152 mm 216pp expecting a dispassionate analysis of Netherlands and argues that change 53 line diagrams 4 tables the EU, past, present and future. The need not follow the inegalitarian US or 0 521 81243 7 Hardback £25.00 book will prove stimulating to all British paths but instead can lead to a followers of EU affairs’ more equal society. Eurobusiness 2004 228 x 152 mm 308pp 25 tables ‘The great virtue of Mr Gillingham’s 0 521 84414 2 Hardback £40.00 book is that, unlike many other works 0 521 60520 2 Paperback £15.99 on the subject, it describes European Union developments against the background of the European political economy. Although Mr Gillingham has strong views, his main concern is to record and explain events’ Samuel Brittan 2003 228 x 152 mm 608pp 0 521 81317 4 Hardback £47.50 0 521 01262 7 Paperback £17.99

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NEW NEW Federal Taxation in Money and the Rise of Leviathans America Multinational Corporations and A Short History the Modern Papacy Second edition Financing the Vatican, 1850–1950 the New Global History Edited by Alfred D. Chandler, Jr W. Elliot Brownlee John F. Pollard University of California, Santa Barbara University of Cambridge Harvard University, Massachusetts and Bruce Mazlish This brief survey is the first This is a pioneering study of the Massachusetts Institute of Technology comprehensive historical overview of finances and financiers of the Vatican the US federal tax systems published between 1850 and 1950. Dr Pollard Leviathans is a ground-breaking since 1967. Brownlee describes the five charts the Papacy’s gradual exploration of multinational principal stages of federal taxation in transformation into a major financial corporations and differs from other relation to the crises that led to their power and the conflicts this produced books on the subject by offering the adoption. Now in a new edition, both with the Church’s social teaching reader a totally global perspective of Brownlee extends his coverage to the and then with the Allies during World multinationals. Written by experts on present. War II. various aspects of the history, Woodrow Wilson Center Press 2005 228 x 152 mm 286pp 15 half-tones development, cultural and social 2004 228 x 152 mm 304pp 0 521 81204 6 Hardback £48.00 implications of the multinational corporation, the book paints a 0 521 83665 4 Hardback £40.00 compelling and coherent picture of the FORTHCOMING way these businesses affect almost all NEW An Economic History areas of our existence. As we might expect, the multinational company is Trade in Classical of South Africa Antiquity Conquest, Discrimination and shown to play a major role in the Development globalization that is reshaping so much Neville Morley University of Bristol Charles H. Feinstein of our lives. University of Oxford 2005 228 x 152 mm 272pp This book explores the long-disputed 2 line diagrams 19 tables role of trade in classical antiquity. It This is the first economic history of 0 521 84061 9 Hardback £45.00 examines how trade underpinned South Africa in over sixty years. It 0 521 54993 0 Paperback £15.99 Athenian and Roman power by examines five hundred years of South Publication March 2005 supplying cities, armies and the African economic history from the years dominant elite. It also provides a new preceding European settlements in NEW perspective on the significance of 1652 through to the post-Apartheid ancient trade by exploring its ecological era. Special attention is given to the An Economic History and cultural implications. processes by which the black population of Imperial Key Themes in Ancient History were deprived of their land, and to the Madagascar, 2005 228 x 152 mm 220pp methods by which they were induced to 1750–1895 0 521 63279 X Hardback c. £40.00 supply labour for white farms, mines The Rise and Fall of an Island 0 521 63416 4 Paperback c. £15.99 and factories. This book will be essential Empire Publication September 2005 reading for students in economics, Gwyn Campbell African history, imperial history and McGill University, Montréal TEXTBOOK politics. The first comprehensive economic 2005 228 x 152 mm 322pp 47 tables The French Economy in history of pre-colonial Madagascar, this 16 figures 5 maps the Twentieth Century 0 521 85091 6 Hardback c. £45.00 study examines the island’s role from 0 521 61641 7 Paperback c. £19.99 1750 to 1895 in the context of a Jean-Pierre Dormois Université de Strasbourg II (Sciences Humaines) Publication June 2005 burgeoning international economy and the rise of modern European Contents: 1. The end of French imperialism. The book reveals the exceptionalism; 2. French economic performance in international perspective; attempt of the Merina of the Central 3. France and the wider world; Highlands to found an island empire 4. The changing guises of Colbertism; and build economic and military 5. The institutions of French capitalism; strength to challenge British and French 6. Labour: the French at work; 7. Tilling and pretensions in the region. grazing: lifeblood or strain?; African Studies, 106 8. Industrialisation, de-industrialisation, 2005 228 x 152 mm 448pp post-industrialisation; Conclusion. 27 line diagrams 10 half-tones 38 tables New Studies in Economic and Social History, 10 maps 49 0 521 83935 1 Hardback £55.00 2004 216 x 138 mm 174pp 1 half-tone Publication April 2005 39 tables 11 graphs 0 521 66092 0 Hardback £27.50 0 521 66787 9 Paperback £9.99 Economic History 35

FORTHCOMING The Cambridge TEXTBOOK A History of Central Economic History of Making History Count Banking in Great Modern Britain A Primer in Quantitative Britain and the United Volume 2: Economic Maturity, 1860–1939 Methods for Historians Edited by Roderick Floud Charles H. Feinstein States London Metropolitan University University of Oxford John H. Wood and Paul Johnson and Mark Thomas Wake Forest University, North Carolina London School of Economics and Political University of Virginia Central banks have always played key Science Contents: Part I. Elementary Statistical roles in the monetary system, even 2004 247 x 174 mm 572pp 96 tables Analysis: 1. Introduction; 2. Descriptive 39 graphs statistics; 3. Correlation; 4. Simple linear before Keynesian ideas of manipulative 0 521 82037 5 Hardback £70.00 regression; Part II. Samples and Inductive government policies became 0 521 52737 6 Paperback £24.99 fashionable among economists. This Statistics: 5. Standard errors and confidence book shows that important continuities intervals; 6. Hypothesis testing; 7. Non- The Cambridge parametric tests; Part III. Multiple Linear in central bankers’ behavior – response Regression: 8. Multiple relationships; to incentives, desire for financial Economic History of 9. The classical linear regression model; stability, and susceptibility to Modern Britain 10. Dummy variables and lagged values; government pressures – go a long way Volume 3: Structural Change and Growth, Part IV. Further Topics in Regression toward understanding them, from their 1939-2000 Analysis: 11. Violating the assumptions of beginnings in the Bank of England in Edited by Roderick Floud the classical model; 12. Non-linear models 1694 and the first Bank of the United London Metropolitan University and functional forms; 13. Logit, probit, and States in 1791, to the present Bank and and Paul Johnson tobit models; Part V. Specifying and Federal Reserve. London School of Economics and Political Interpreting Models: Four Case Studies: 14. Case studies 1 and 2: unemployment in Studies in Macroeconomic History Science Britain and emigration from Ireland; 2005 228 x 152 mm 424pp 2004 247 x 174 mm 494pp 67 tables 17 line diagrams 7 tables 53 graphs 1 figure 5 maps 15. Case studies 3 and 4: the Old Poor Law 0 521 85013 4 Hardback c. £50.00 0 521 82038 3 Hardback £70.00 in England and leaving home in the United Publication July 2005 0 521 52738 4 Paperback £24.99 States, 1850–60; Appendix A. The four data sets; Appendix B. Index numbers; Index. 2002 247 x 174 mm 570pp 1 table TEXTBOOK THREE VOLUME SET 142 figures 0 521 80663 1 Hardback £65.00 The Cambridge The Cambridge 0 521 00137 4 Paperback £21.99 Economic History of Economic History of Modern Britain Modern Britain FORTHCOMING Edited by Roderick Floud Edited by Roderick Floud London Metropolitan University London Metropolitan University Private and Public and Paul Johnson and Paul Johnson Enterprise in Europe London School of Economics and Political London School of Economics and Political Energy, Telecommunications and Science Science Transport, 1830–1990 2004 1360pp 239 tables 120 graphs 2004 1360pp 239 tables 120 graphs 5 figures Robert Millward 5 figures University of Manchester 0 521 83498 8 3 Volume Hardback Set 0 521 83498 8 3 Volume Hardback Set £180.00 £180.00 This is the first comparative history of 0 521 53932 3 3 Volume Paperback Set 0 521 53932 3 3 Volume Paperback Set the economic organisation of energy, £65.00 £65.00 telecommunications and transport in Europe. It examines the role played by The Cambridge TEXTBOOK private and public enterprise in their Economic History of The Unbound construction and operation from the arrival of the railways in the 1830s to Modern Britain Prometheus the eve of privatisation in the 1980s. Volume 1: Industrialisation, 1700–1860 Technological Change and Cambridge Studies in Economic History – Edited by Roderick Floud Industrial Development in Second Series London Metropolitan University Western Europe from 1750 to 2005 228 x 152 mm 354pp 33 tables and Paul Johnson the Present 18 figures 1 map London School of Economics and Political Second edition 0 521 83524 0 Hardback c. £50.00 Publication June 2005 Science David S. Landes 2004 247 x 174 mm 556pp 76 tables Harvard University, Massachusetts 28 graphs 4 figures 0 521 82036 7 Hardback £70.00 Contents: Preface to the new edition; 0 521 52736 8 Paperback £24.99 Preface to the original edition; 1. Introduction; 2. The industrial revolution in Britain; 3. Continental emulation; 4. Closing the gap; 5. Short breath and second wind; 6. The interwar years; 7. Reconstruction and growth since 1945; 8. Conclusion; 9. Epilogue; Index. 2003 216 x 138 mm 588pp 0 521 82666 7 Hardback £50.00 0 521 53402 X Paperback £19.99

For monthly email alerts visit www.cambridge.org/eservices 36 Economic Development and Growth

rigorous and thoughtful analysis of Contents: 1. Developing countries and the Economic these crucial issues, which takes concept of development; 2. Development of account of the practicalities of policy the international economic order, Development and delivery in developing countries.’ 1450–2000; 3. Growth and stagnation: Professor Nicholas H. Stern, FBA 2nd Permanent theories and experiences; 4. Technology and and Growth Secretary, HM Treasury and Head of the UK development; 5. Population and Government Economic Service development; 6. Health, health care and Federico Caffe Lectures development; 7. Education and HIGHLIGHT 2005 216 x 138 mm 250pp 9 graphs development; 8. Economic development, 0 521 84018 X Hardback c. £50.00 structural transformation and primary Regulation and 0 521 54948 5 Paperback c. £18.99 exports; 9. Industrial development; Publication March 2005 Development 10. Agricultural development and rural Jean-Jacques Laffont development; 11. State formation and In Regulation and Development Jean- NEW TEXTBOOK political aspects of development; Jacques Laffont provides the first 12. Cultural dimensions of development; The Dynamics of 13. The international economic and political theoretical analysis of regulation of Socio-Economic order since 1945; 14. Foreign aid and public services for developing countries. development. He shows how the debate between Development An Introduction 2005 247 x 174 mm 745pp 75 tables price-cap regulation and cost of service 20 graphs regulation is affected by the Adam Szirmai 0 521 81763 3 Hardback £60.00 characteristics of less developed Technische Universiteit Eindhoven, 0 521 52084 3 Paperback £30.00 Holland countries (LDCs) and offers a positive www.dynamicsofdevelopment.com theory of privatization that stresses the Why are poor countries poor role of corruption. Based on and rich countries rich? How are wealth and poverty related to changes in World Cities beyond organization theory and history, and the West using simple empirical tests wherever nutrition, health, life expectancy, education, population growth and Globalization, Development and possible, Professor Laffont offers a Inequality comprehensive evaluation of the politics? This modern, non-technical introduction to development economics Edited by Josef Gugler different ways to organize the University of Connecticut regulatory institutions and opens up a takes a quantitative and comparative This book provides the first dedicated rich new research agenda for approach to contemporary debates, study of major cities in countries outside development studies. examining historical, institutional, demographic, sociological, political, the industrialized West. The contributors ‘In this impressive manuscript, Jean compare their histories, their present Jacques Laffont shows why the cultural and ecological factors. Chapters regulation of infrastructure services is contain comparative statistics from positions in the world, and the problems crucial to achieve equitable and twenty-nine developing countries. they face. This book provides an original sustainable expansion of infrastructure Assuming no prior knowledge of perspective on world cities and the services in the poorest countries of the economics the book is suited for use in impact of globalization upon them. world. This new book by one of the inter-disciplinary development studies 2004 228 x 152 mm 412pp 29 tables fathers of the modern theory of programmes and economics courses, 12 figures 23 maps 0 521 83003 6 Hardback £45.00 regulation offers a huge first step and will interest practitioners pursuing towards a theory of regulation of 0 521 53685 5 Paperback £19.99 network industries for developing careers in developing countries. countries and provides preliminary ‘The Szirmai text offers a scholarly and empirical tests of this theory. It opens comprehensive treatment of Discipline and a huge new research agenda for development economics that is Development academics and helps practitioners accessible to a wide range of social Middle Classes and Prosperity in improve their ability to provide science and development studies East Asia and Latin America effective policy advice. It is a required students. Its treatment of health Diane E. Davis reading for anyone claiming to care for issues, education policy, and rural Massachusetts Institute of Technology the effectiveness of the delivery of development, along with its public services in developing comprehensive data tables, are South Korea’s and Taiwan’s economic countries.’ unsurpassed in the development successes and Argentina’s and Mexico’s Antonio Estache, Senior Economic Advisor, The economics field.’ relative ‘failures’ are compared through World Bank Kenneth A. Reinert, Associate Professor of Public examination of their rural middle classes ‘The weak performance of public Policy, George Mason University and disciplinary capacities. Can utilities and infrastructure in ‘This monumental study is historically disciplining continue in a context where developing countries has been a grounded, balanced, nuanced, rigorous, globalization squeezes middle classes eclectic, and reader-friendly. All serious serious drain on resources, a drag on and frees capitalists from state and growth and an obstacle to poverty scholars and practitioners of economic reduction. The factors behind this weak development will want to have a copy social contracts? performance are also those which limit on their shelves. The volume is ideally 2004 228 x 152 mm 436pp 6 tables the ability to regulate private suited as a text for a development 0 521 80748 4 Hardback £55.00 0 521 00208 7 Paperback £19.95 monopolies in an effective and fair economics course.’ way. Thus understanding the problems Hal Hill, H. W. Arndt, Professor of Southeast of regulation and development is Asian Economies, Australian National University fundamental to policies shaping growth and poverty reduction. This book, by one of the most distinguished economic theorists of our time, is of great importance in providing a Economic Systems 37

FORTHCOMING Economic TEXTBOOK Seeing the State Economic Transition in Governance and Systems Central and Eastern Governmentality in India Europe Stuart Corbridge Planting the Seeds London School of Economics and Political NEW Science Economic Systems of Daniel Gros Glyn Williams Centre for European Policy Studies (CEPS), Brussels Keele University Foraging, Agricultural and Alfred Steinherr Manoj Srivastava and Industrial Freie Universität Bozen, Bolzano London School of Economics and Political Societies Science Analysing the problems facing transition Frederic L. Pryor and Rene Veron Swarthmore College, Pennsylvania countries in Central and Eastern Europe, University of Guelph, Ontario this book describes the legacy of the Frederic L. Pryor uses a multidisciplinary central planners and the need for How do poor people in India approach drawing from economics, radical reforms. It documents the understand and make use of the state anthropology, statistics, and history to successes and failures, and indicates in their daily lives? The authors consider examine large samples of foraging how the EU could help the poor key debates in development studies on (hunting, gathering and fishing), performers through inclusion in a participation and good governance to agricultural, and industrial societies. He continent-wide integrated economic answer these questions. They study the isolates their economic systems, area. extent to which poorer people can explores why certain societies or nations engage the political process as citizens. have one system rather than another, Contents: Introduction; Part I. The Rise and Contemporary South Asia, 10 examines the impact of these economic Decline of Communism: An Overview: 2005 228 x 152 mm 320pp 16 tables 1. From pre-war Russia to the fall of 9 figures systems on their welfare and studies Communism; 2. The obsession with growth; 0 521 83479 1 Hardback c. £40.00 development and change of these Part II. Transition: 1990–2000: 3. Transition: 0 521 54255 3 Paperback c. £18.99 economic systems. No other book on the job; 4. Transition: ten years later; Publication August 2005 the market presents such a broad 5. Transition: unfinished business; framework for understanding economic Part III: Extreme Cases for Reform: Scope Building High-Tech systems or provides such evidence on for Disagreements: 6. German unification: both preindustrial and industrial an example of big-bang reform; Clusters 7. The disintegration of the Soviet Union; Silicon Valley and Beyond economic systems. 2005 228 x 152 mm 328pp 8. Russia: after a lost decade Phoenix rises Edited by Timothy Bresnahan 2 line diagrams 23 tables from the ashes?; Part IV.The New Europe Stanford University, California 0 521 84904 7 Hardback £40.00 from the Atlantic to the Urals: 9. Eastern and Alfonso Gambardella 0 521 61347 7 Paperback £17.99 enlargement; 10. Saving the Balkans; Università degli Studi, Pisa Publication February 2005 11. The outlook; Bibliography. The contributors study how centers of 2004 247 x 174 mm 374pp 11 half-tones 22 tables 22 graphs 4 maps industrial and technological innovation Postwar Migration in 0 521 82638 1 Hardback £65.00 such as Silicon Valley get started. They Southern Europe, 0 521 53379 1 Paperback £23.99 show that the key public and business policy elements of starting up a cluster 1950-2000 are common across many regions, An Economic Analysis countries, and time periods. Alessandra Venturini Università degli Studi di Torino, Italy 2004 228 x 152 mm 382pp 41 line diagrams 62 tables 2 maps This book analyzes the Southern 0 521 82722 1 Hardback £55.00 European migration case using an economic approach. It combines a theoretical and an empirical approach on the fundamental migration issues – the decision to migrate, effects on the country of departure and country of destination, and the effectiveness of policies in managing migration. 2004 228 x 152 mm 300pp 25 line diagrams 38 tables 0 521 64040 7 Hardback £60.00

Visit our website at www.cambridge.org 38 Environmental and Resource Economics

Environmental HIGHLIGHT HIGHLIGHT Natural Resources and Corporate and Resource Economic Environmentalism and Economics Development Public Policy Edward B. Barbier Thomas P. Lyon University of Wyoming Indiana University HIGHLIGHT Natural Resources and Economic and John W. Maxwell FORTHCOMING TEXTBOOK Development explores a key paradox: Indiana University This is the first book to provide a hard- Ecological Economics why is natural resource exploitation not yielding greater benefits to the poor headed economic view of the voluntary An Introduction economies of Africa, Asia and Latin approaches to environmental issues, Michael Common especially toxic chemicals, waste University of Strathclyde America? Edward B. Barbier examines this paradox through historical disposal and global warming, that have and Sigrid Stagl University of Leeds examples, current theories and models, become prominent in recent years. empirical analysis of land degradation Rigorous analysis is illustrated with Taking as its starting point the and water use, and country case- numerous case studies drawn from the interdependence of the economy and studies. He models an alternative US, Europe, and Japan, while technical the natural environment, this book explanation, the frontier expansion details are relegated to appendices, and provides a comprehensive introduction hypothesis, and proposes policy and each chapter highlights implications for to the emerging field of ecological institutional reforms necessary for corporate strategy and public policy. economics. The authors, who have successful resource-based development ‘This book is the best example of how written extensively on the economics of in developing countries. serious economic theory can be used to sustainability, build on insights from tackle many practical and relevant both mainstream economics and ‘Much of the development economics community still seems unconvinced environmental problems. The authors do ecological sciences. Assuming no prior that natural resource conservation has not only adopt the usual regulators’ knowledge of economics, this textbook much to do with lifting the poor out of viewpoint, whose goal is to correct is well suited for use on interdisciplinary poverty. In a fine selection of case market imperfections. In addition, this environmental science and management studies and rigorous arguments, Ed book pays a lot of attention to business courses. It has extensive student-friendly Barbier shows that they could not be incentives and to how free markets can profitably adopt self-regulation features including discussion questions more mistaken. Few writers can compete with Barbier’s authority in measures. As a consequence a wide and exercises, keyword highlighting, range of policy strategies emerges. This real-world illustrations, further reading this area – he commands respect for his combination of field experience, book is a valuable reading for both and website addresses. sound theory and applied analysis. This private and public decision makers.’ ‘…This text brings environmental is a volume to pore over and digest, Carlo Carraro, Professor of Economics, University of Venice and Research Director Fondazione ENI economics into the twenty-first century but not at leisure. The problems are E Mattei, Venice and will be the standard in the field urgent and Barbier points the way to for years to come.’ their solution.’ ‘A common joke has economists saying, John Gowdy, Professor of Economics, Rensselaer David Pearce, Emeritus Professor of ‘It works in practice, but will it work in Polytechnic Institute Environmental Economics, University College theory?’ Lyon and Maxwell are ‘Environmental economics has existed London uncommonly inquisitive economists who as a powerful discipline for nearly 50 Contents: Preface; 1. Natural resources set about in this fine book to show what years. Ecological economics borrows and developing countries: an overview; is happening in the practice of corporate environmental behavior and how that heavily from it, and overlaps it 2. Natural resource-based economic squares with the predictions of the significantly. But there are development in history; 3. Does natural theory they quite usefully develop. differences… Anyone wanting an resource dependence hinder economic Anyone interested in serious thinking explanation and exploration of these development?; 4. Frontier expansion and about ‘corporate social responsibility’ differences in a lucid and informative economic development; 5. Explaining land will benefit from their treatment.’ manner will want to own Mick use change in developing countries; Common and Sigrid Stagl’s textbook. It Paul R Portney, President, Resources for the 6. The economics of land conversion; Future is a very fine introduction.’ 7. Does water availability constrain ‘Drawing on game theory and classical David Pearce, Emeritus Professor of economic development? 8. Rural poverty Environmental Economics, University College economic models of regulation, Lyon and resource degradation; 9. Can frontier- London and Maxwell advance our understanding based development be successful?; of the relationships among companies, Contents: 1. What is ecological 10. Policies for sustainable resource-based economics?; Part I. Interdependent Systems: governments, and environmental development in poor economies. activists that shape the environmental 2. The environment; 3. The economy in the 2005 228 x 152 mm 300pp 30 tables environment; 4. How we got here; behavior of firms. Their book is critical 25 figures reading for environmentalists, Part II. Economic Activity: 5. Economic 0 521 82313 7 Hardback c. £45.00 government officials, and scholars who accounting; 6. Economic growth and human Publication August 2005 need to understand why hard-nosed well-being; 7. Economic growth and the managers might practice corporate environment; 8. Exchange and markets; environmentalism, and whether society 9. Limits to markets; Part III. Governance: at large actually benefits from that 10. Determining policy objectives; 11. Policy behavior.’ instruments; Part IV.The International Forest Reinhardt, John D. Black Professor of Dimension: 12. A world of nation states; Business Administration, Harvard Business School 13. Climate change; 14. Biodiversity loss. 2004 228 x 152 mm 306pp 6 tables 2005 247 x 174 mm 650pp 78 tables 18 graphs 114 graphs 22 figures 0 521 81947 4 Hardback £45.00 0 521 81645 9 Hardback c. £60.00 0 521 01670 3 Paperback c. £30.00 Publication August 2005 Environmental and Resource Economics 39

NEW IN PAPERBACK NEW NEW TEXTBOOK Applied Environmental Price, Principle, and Primer on Climate Economics the Environment Change and A GIS Approach to Cost-benefit Mark Sagoff Sustainable Analysis University of Maryland, College Park Development Ian J. Bateman Sagoff has written a provocative book Facts, Policy Analysis and University of East Anglia about the contribution economics can Applications Andrew A. Lovett make to environmental policy. He University of East Anglia Mohan Munasinghe argues that economics can be helpful in and Julii S. Brainard and Rob Swart designing institutions and processes University of East Anglia Contents: Foreword; Acknowledgements; through which people can settle 1. Climate change: scientific background One of the first books to demonstrate environmental disputes. However, the power of Geographical Information and introduction; 2. Future scenarios of economic analysis fails completely when development and climate change; Systems (GIS) applied to environmental it attempts to attach value to 3. Framework for making development economics problems. The authors show environmental goods. His conclusion is more sustainable: concepts and analytical how GIS can be used to model complex that environmental policy turns on tools; 4. Making development more real world interactions between the principles that are best identified and sustainable; 5. Adaptation to climate environment and the economy, making applied through political processes. change: concepts, approaches and linkages possible a more sophisticated evaluation Written with verve and fluency, this with wider sustainable development issues; of the costs and benefits of 6. Vulnerability, impacts and adaptation by book will be eagerly sought out by sectors and systems; 7. Vulnerability, environmental policies than students and professionals in conventional cost-benefit techniques impacts and adaptation by geographic environmental policy and informed region; 8. Mitigating climate change: allow. Using an extended case study of general readers. concepts and linkages with sustainable a land use change problem, the authors 2004 228 x 152 mm 294pp development; 9. Mitigating measures: develop an innovative methodology that 0 521 83723 5 Hardback £40.00 technologies, practices, barriers and policy has important applications to 0 521 54596 X Paperback £17.99 instruments; 10. Assessment of mitigation economists, environmental managers costs and benefits; 11. Climate change and and regional planners. sustainable development: a synthesis; Index. NEW GRADUATE TEXTBOOK May 2005 247 x 174 mm 358 pages 2005 247 x 174 mm 464pp 35 line diagrams 67 tables Risks and Decisions for 70 line diagrams 41 tables 0521671582 Paperback c.£24.99 0 521 81066 3 Hardback £60.00 Conservation and 0 521 00888 3 Paperback £30.00 Environmental Publication March 2005 FORTHCOMING Management Emissions Trading for Mark Burgman TEXTBOOK University of Melbourne Climate Policy Global Warming US and European Perspectives Describes how to conduct a complete The Complete Briefing environmental risk assessment for Edited by Bernd Hansjürgens Third edition Martin Luther-Universität Halle-Wittenburg, students, researchers and professionals Germany John Houghton in ecology, conservation and resource Intergovernmental Panel on Climate Change Bringing together economists, political management. Contents: Introduction to the first edition; scientists and lawyers, this book Contents: Preface; Acknowledgements; Introduction to the second edition; provides a description, analysis and 1. Values, history and perception; 2. Kinds Introduction to the third edition; 1. Global evaluation of emissions trading as an of uncertainty; 3. Conventions and the risk warming and climate change; 2. The instrument to control greenhouse gases. management cycle; 4. Experts, stakeholders Greenhouse effect; 3. The Greenhouse The authors analyse theoretical aspects and elicitation; 5. Conceptual models and Gases; 4. Climates of the past; 5. Modelling of regulatory instruments for climate hazard assessment; 6. Risk ranking; the climate; 6. Climate change for the policy, provide an overview of US 7. Ecotoxicology; 8. Logic trees and twenty-first century and beyond; 7. The decisions; 9. Defining and eliciting intervals; experience with market-based impacts of climate change; 8. Why should 10. Monte Carlo; 11. Inference, decisions, we be concerned?; 9. Weighing the instruments, draw lessons from existing monitoring and updating; 12. Decisions and trading schemes, and discuss options for uncertainty; 10. Strategy for action to slow risk management; References; Index. and stabilize climate change; 11. Energy emissions trading in climate policy. One Ecology, Biodiversity and Conservation and transport for the future; 12. The Global of the first books to offer a systematic 2005 228 x 152 mm 464pp Village; Glossary; Index. comparison of US and European 111 line diagrams 1 half-tone 50 tables 2004 247 x 174 mm 382pp experiences of emissions trading, it will 0 521 83534 8 Hardback £70.00 101 line diagrams 21 tables 80 exercises 0 521 54301 0 Paperback £35.00 0 521 81762 5 Hardback £50.00 be essential reading for all those Publication February 2005 concerned with climate policy. 0 521 52874 7 Paperback £24.99 Contributors: Bernd Hansjürgens, Thomas Sterner, Mark Hammar, Carolyn Fischer, Reimund Schwarze, Robert N. Stavins, A. Denny Ellerman, Charles D. Kolstad, Richard D. Morgenstern, Mikael Skou Andersen, Gert Tinggaard Svendsen, Peter Zapfel, Michael Rodi, Sven Bode 2005 228 x 152 mm 235pp 15 tables 8 figures 0 521 84872 5 Hardback c. £45.00 Publication August 2005 For monthly email alerts visit www.cambridge.org/eservices 40 Regional Economics/Journals

TEXTBOOK Regional Journals Resource Economics Jon M. Conrad Economics Cornell University, New York JOURNAL

The book covers basic concepts, shows TEXTBOOK Economics and how to set up spreadsheets to solve Philosophy dynamic allocation problems, and An Introduction to Editors: Luc Bovens presents economic models for fisheries, Geographical London School of Economics forestry, nonrenewable resources, stock Economics and Peter Vallentyne pollutants, option value, and sustainable Trade, Location and Growth University of Missouri development. Steven Brakman The disciplines of economics and 2000 228 x 152 mm 223pp Rijksuniversiteit Groningen, The Netherlands philosophy each possess their own 22 line diagrams 1 half-tone 36 tables Harry Garretsen 0 521 64012 1 Hardback £50.00 special analytical methods, whose Katholieke Universiteit Nijmegen, The 0 521 64974 9 Paperback £18.99 combination is powerful and fruitful. Netherlands Each discipline can be enriched by the and Charles van Marrewijk other. Economics and Philosophy aims Spatial Ecological- An integrated, non-mathematical, first- to promote their mutual enrichment by Economic Analysis for principles textbook presenting publishing articles and book reviews in Wetland Management geographical economics to advanced all areas linking these subjects. Topics Modelling and Scenario students. Never avoiding advanced include the methodology and Evaluation of Land Use concepts, its emphasis is on examples, epistemology of economics, the Jeroen C. J. M. van den Bergh diagrams, and empirical evidence, foundations of decision theory and Vrije Universiteit, Amsterdam making it the ideal starting point before game theory, the nature of rational Aat Barendregt delving into monographic and journal choice, ethical issues in economics, the Universiteit Utrecht, The Netherlands material. use of economic techniques in ethical and Alison J. Gilbert Contents: 1. A first look at geography, theory, and many other subjects. 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A C Donaldson, David J...... 7 Abadir, Karim M...... 6 C++ Design Patterns and Derivatives Dopfer, Kurt ...... 3 Acocella, Nicola...... 32 Pricing ...... 9 Dormois, Jean-Pierre ...... 34 Adam Smith's Moral Philosophy...... 3 Cain, Daylian M...... 32 Dowrick, Steve...... 16 Advances in Economics and Econometrics. Cambridge Economic History of Modern Dunkerley, James ...... 44 10 Britain, The ...... 34 Dynamic Macroeconomic Analysis ...... 15 Advances in Economics and Econometrics: Cameron, A. Colin...... 4 Dynamics of Coercion, The ...... 25 Theory and Applications ...... 7 Cammack, Paul...... 44 Dynamics of Deforestation and Economic Aggoun, Lakhdar ...... 10 Campbell, Gwyn ...... 34 Growth in the Brazilian Amazon, The..40 Agriculture and the New Trade Agenda .18 Capital Budgeting...... 21 Dynamics of Markets ...... 21 Altug, Sumru ...... 15 Caputo, Michael R...... 9 Dynamics of Socio-Economic Development, Analysis of Panel Data ...... 8 Carroll, R. J...... 10 The...... 36 Andersen, Lykke E...... 40 Cassis, Youssef...... 43 Andrews, Donald W. K...... 5 Central Bank Cooperation at the Bank for E Ansari, Sarah ...... 43 International Settlements, 1930–1973 Easterlin, Richard A...... 2 Antitrust Law...... 27 ...... 33 Ecological Economics...... 38 Aoki, Masanao ...... 5, 9 Chacko, George ...... 20 Ecological Inference...... 12 Applied Choice Analysis...... 8 Chadha, Jagjit S...... 15 Econometric Analysis of Seasonal Time Applied Environmental Economics...... 39 Chamley, Christophe P...... 1 Series, The...... 7 Applied Time Series Econometrics...... 6 Champ, Bruce...... 16 Econometric Foundations ...... 5 Apt, Krzysztof ...... 10 Chandler, Jr, Alfred D...... 34 Econometric Theory...... 40 Armitage, Seth...... 19 Chang, Fwu-Ranq...... 12 Econometrics of Qualitative Dependent Asymptotic Statistics...... 12 China Quarterly, The ...... 44 Variables...... 7 Atack, Jeremy ...... 42 Clapham, Christopher ...... 43 Economic Analysis of Social Common Australia's Money Mandarins...... 24 Clawson, James G...... 33 Capital...... 2 Avant, Deborah D...... 23 Clement, Piet...... 33 Economic Dynamics ...... 11 Common, Michael...... 38 Economic Growth and Macroeconomic B Competition Policy...... 14 Dynamics...... 16 Concepts and Practice of Mathematical Baaquie, Belal E...... 20 Economic History of Imperial Madagascar, Finance, The...... 22 Bailey, Roy...... 18 1750–1895, An ...... 34 Concise Handbook of Movie Industry Barbanel, Julius B...... 9 Economic History of South Africa, An ....34 Economics, A...... 29 Barbier, Edward B...... 38 Economic Implications of Aging Societies, Concise Introduction to Econometrics, A 4 Barendregt, Aat ...... 40 The...... 22 Conflicts of Interest...... 32 Barnett, William A...... 41 Economic Policy in the Age of Conner, Marcia L...... 33 Barr, Nicholas ...... 32 Globalisation ...... 32 Conrad, Jon M...... 40 Bateman, J...... 39 Economic Systems of Foraging, Agricultura Convex Optimization...... 10 Baz, Jamil ...... 20 and Industrial Societies ...... 37 Corbridge, Stuart ...... 37 Bazerman, Max...... 32 Economic Transition in Central and Eastern Corporate Environmentalism and Public Beetsma, R...... 16 Europe...... 37 Policy...... 38 Bell, Stephen ...... 24 Economics and Philosophy...... 40 Corporate Integrity...... 30 Benvenisti, Eyal...... 27 Economics and Politics of Trade Blocs, The. Cost of Capital, The ...... 19 Bidard, Christian...... 4 ...... 18 Cotter, Thomas F...... 26 Bierens, Herman J...... 6 Economics and Social Interaction ...... 3 Course in Financial Calculus, A...... 21 Blackorby, Charles...... 7 Economics and the Theory of Games.....15 Course in Public Economics, A...... 24 Blair, Roger D...... 26, 31 Economics of Contracts, The...... 27 Creating a Learning Culture...... 33 Bossert, Walter ...... 7 Economics of Exchange Rates, The ...... 16 Bouchaud, Jean-Philippe...... 21 Economics of Financial Markets, The...... 18 Bovens, Luc ...... 40 D Economics of Franchising, The ...... 31 Box-Steffensmeier, Janet M...... 13 Data Envelopment Analysis ...... 12 Economics of Information Technology, The. Boyd, Stephen ...... 10 Davies, Paul ...... 28 13 Brakman, Steven...... 40 Davis, Diane E...... 36 Economics of Mobile Telecommunications, Brainard. S. Julii ...... 39 Davis, Gerald ...... 23 The...... 27 Bresnahan, Timothy...... 37 Davis, Timothy S...... 3 Economics of Network Industries, The ...15 Brix, Anders ...... 19 Davison, A. C...... 10 Economics of Overtime Working, The.....28 Brooks, Chris ...... 21 Dayananda, Don...... 21 Economics of Self-Employment and Brooks, Robin ...... 22 de Bijl, Paul ...... 28 Entrepreneurship, The...... 28 Brousseau, Eric ...... 27 Deflation ...... 16 Elliott, Robert J...... 10 Brown, Marvin T...... 30 Demange, Gabrielle ...... 14 Emissions Trading for Climate Policy...... 39 Brown, J. R...... 42 Deutch, John M...... 1 Employment Policy and the Regulation of Brownlee, W. Elliot...... 34 Dewatripont, Mathias ...... 7 Part-time Work in the European Union ... Building a Dynamic Europe ...... 17 Dickson, David C. M...... 10 ...... 28 Building High-Tech Clusters ...... 37 Dietzenbacher, Erik ...... 4 Entertainment Industry Economics...... 20 Burdekin, Richard C. K...... 16 Dijk, Dick van ...... 5 Entrepreneurial Shift, The ...... 31 Burgman, Mark...... 39 Discipline and Development...... 36 Environmental and Development Burns, Lawton Robert ...... 31 Discrete Choice Methods with Simulation.. Economics ...... 42 Business of Healthcare Innovation, The..31 15 Essays in Econometrics...... 8 Business Politics and the State in Dispute Settlement in the World Trade Etheridge, Alison...... 21 Twentieth-Century Latin America...... 24 Organization...... 18 Europe and the Politics of Capabilities ..22 Byman, Daniel L...... 25 Doha and Beyond...... 18 European Integration, 1950–2003 ...... 33 Doing Business in the Middle East ...... 24 European Review of Economic History...43 Evensky, Jerry...... 3

Visit our website at www.cambridge.org 46 Author and Title Index

Event History Modeling...... 13 H J Evolutionary Foundations of Economics, Haberman, Steven ...... 42 Jackson, John E...... 23 The...... 3 Handler, Joel F...... 27 Japan's Network Economy ...... 17 Hansen, Lars Peter ...... 7 Jenkins, Mark...... 30 F Hansjürgens, Bernd...... 39 Jewson, Stephen...... 19 Farrell, Joseph...... 13 Harley, C. Knick...... 42 Johnson, Paul...... 35, 48, 49 Favero, C...... 16 Harrison, Steve ...... 21 Jones, Bradford S...... 13 Federal Taxation in America...... 34 Hart, Jeffrey A...... 28 Jones, Brendan ...... 44 Feinstein, Charles H...... 44, 35 Hart, Robert A...... 28 Jonung, Lars ...... 15 Financial Derivatives ...... 20 Harvey, Andrew...... 12 Joshi, Mark S...... 9, 22 Financial History Review ...... 43 Hensher, David A...... 8 Journal of Advertising Research...... 42 Floud, Roderick...... 35 Heracleous, Loizos ...... 32 Journal of Economic History, The ...... 42 Fort, Timothy L...... 32 Herbohn, John ...... 21 Journal of Institutional Economics ...... 41 Foundations of Dynamic Economic Analysis Herrera, Yoshiko M...... 22 Jounral of Latin American Studies...... 44 9 Higham, Desmond ...... 20 Journal of Modern African Studies, The 43 France in Crisis ...... 33 Hillman, Arye L...... 24 Journal of Pension Economics and Frankel, Jeffery A...... 22 Hirsch, Moshe...... 27 Finance...... 42 Franses, Philip Hans ...... 4, 5, 32 Hirshleifer, David...... 14 Journal of Public Policy ...... 42 Free Market Democracy and the Chilean Hirshleifer, Jack...... 14 Journal of Southeast Asian Studies...... 44 and Mexican Countryside...... 25 History of Central Banking in Great Britain Journal of the Royal Asiatic Society ...... 43 Freedland, Mark...... 28 and the United States, A ...... 35 Judge, George G...... 5 Freeman, Scott...... 16 Hodgson, Geofffrey M...... 41 French Economy in the Twentieth Century, Holding China Together ...... 25 K The...... 34 Honohan, Patrick ...... 19 Houghton, John ...... 39 Kawanishi, Hirosuke...... 28 From Elections to Democracy ...... 23 Kehoe, Timothy J...... 14 Frontiers in Applied General Equilibrium How Australia Compares...... 24 Hsiao, Cheng ...... 8 Kelbert, Michael...... 10 Modeling ...... 14 Khalil, Elias L...... 41 Fuente, Angel de la...... 12 Huang, Yasheng...... 23 Hughes Parry, Trevor...... 4 Kieninger, Eva-Maria...... 27 Huizinga, Harry...... 15 Kim, In-Moo ...... 7 G Hylton, Keith N...... 27 Kimberly, John R...... 30 Gambardella, Alfonso...... 37 King, Gary ...... 12 Gambling in America ...... 18 Klassen, Paul B...... 7 Garretsen, Harry ...... 40 I Klich, Jacek...... 23 Gatignon, Hubert...... 30 Identification and Inference for Koenker, Roger...... 7 Geometry of Efficient Fair Division, The....9 Econometric Models...... 5 Kolm, Serge-Christophe...... 25 Gerlach, Michael L...... 17 Imagined Economies...... 22 Koopman, Siem Jan ...... 12 Ghysels, Eric ...... 7, 8 IMF and its Critics, The...... 18 Koremenos, Barbara...... 26 Gilbert, Alison J...... 40 Impact of International Law on Kover, Arthur J...... 42 Gilbert, Christopher L...... 18 International Cooperation, The ...... 27 Krätzig, Markus ...... 6 Gillingham, John...... 23 Inagami, T...... 31 Krishna, Pravin...... 18 Gittins, Ross ...... 24 Information Efficiency in Financial and Krishna, S...... 30 Glachant, Jean-Michel...... 27 Betting Markets ...... 19 Kurtz, Marcus J...... 25 Glazer, Amihai ...... 14 Ingco, Merlinda D...... 18 Global Capital Markets ...... 17 INSEAD-Wharton Alliance on Globalizing, L Global Collective Action...... 26 The...... 30 Insurance Risk and Ruin...... 10 Laeven, Luc...... 19 Global Crises, Global Solutions...... 1 Laffont, Jean-Jacques...... 36 Global IT Outsourcing ...... 30 Intellectual Property...... 26 International Business and Government Lafontaine, Francine...... 31 Global Warming...... 39 Lahr, Michael L...... 4 Globalization and the International Relations in the 21st Century ...... 29 International Public Goods and Transfer of Landes, David S...... 34 Financial System ...... 17 Langlois, Richard N...... 41 Gordon, Robert J...... 16 Technology Under A Globalized Intellectual Property Regime...... 26 Law in a Market Context ...... 26 Gourieroux, Christian...... 7 Leach, John ...... 24 Granger, Clive W. J...... 40 Internationalisation of Asset Ownership in Europe, The...... 15 LeRoy, Stephen F...... 21 Graziadei, Michele ...... 27 Lester, Richard K...... 1 Greene, William H...... 8 Introduction to Economic Dynamics, An ...... 11 Leviathans ...... 34 Greenwald, Bruce ...... 17 Lincoln, James R...... 17 Gretton, George L...... 27 Introduction to Financial Option Valuation, An ...... 20 Lines, Marji...... 11 Grinols, Earl L...... 18 Lipson, Charles ...... 26 Gros, Daniel...... 37 Introduction to Geographical Economics, An ...... 40 Lleras, Miguel Palacios ...... 23 Grosse, Robert...... 29 Locke, Robert R...... 31 Grote, Rainer ...... 27 Introduction to the Mathematical and Statistical Foundations of Econometrics 6 Lockhart, Bruce...... 44 Group Formation in Economics...... 14 Loewenstein, George ...... 32 Gruber, Harald ...... 27 Introductory Econometrics for Finance...21 Investing in Human Capital...... 23 Lomborg, Bjørn...... 1 Gual, Jordi...... 17 Lovett, A. Andrew ...... 39 Gugler, Josef...... 36 Irons, Richard...... 21 Irwin, Douglas A...... 41 Lütkepohl, Helmut...... 6 Gui, Benedetto ...... 3 Lyon, Thomas P...... 38 Guillén, Mauro...... 29 Isard, Peter ...... 17 Gunther, Robert E...... 30 Author and Title Index 47

M Nooteboom, Bart...... 41 Regional Multinationals, The ...... 29 Maas, Harro...... 4 Nyce, Steven A...... 22 Regulation and Development...... 36 Macroeconomic Dynamics...... 41 Regulation and Entry into Macroeconomics in Emerging Markets ..17 O Telecommunications Markets...... 28 Regulation of International Financial Macrojustice...... 25 O'Riain, Sean...... 26 Maddala, G. S...... 7 Markets, The ...... 27 O”Rourke, Kevin H...... 43 Regulatory Bargaining and Public Law ..26 Magnus, Jan ...... 6 Obstfeld, Maurice ...... 17 Making History Count...... 35 Reichman, Jerome H...... 26 Orren, Karen...... 25 Reis, Eustaquio J...... 40 Making Technology Work...... 1 Orszag, J. Michael...... 42 Malerba, Franco...... 28 Reluctant Economist, The ...... 2 Osborn, Denise R...... 7 Resource Economics ...... 40 Malloy, Robin Paul...... 26 Outsourcing Process, The...... 30 Malthus, T. R...... 5 Rethinking Pension Reform ...... 29 Managerial Economics...... 29 Rethinking Performance Measurement ..33 Marauhn, Thilo...... 27 P Ricardo's Macroeconomics...... 3 Market for Force, The ...... 23 Paap, Richard...... 32 Rise of Spanish Multinationals, The ...... 29 Marrewijk, Charles van ...... 40 Pagano, Ugo...... 41 Risk and Reason...... 1 Maskus , Keith...... 26 Palm, Franz C...... 5 Risks and Decisions for Conservation and Mathematical Methods and Models for Palmeter, David...... 18 Environmental Management ...... 39 Economists ...... 12 Parker, Simon C...... 28 Ritschl, Albrecht...... 43 Matrix Algebra...... 6 Pasternak, Ken...... 30 Role of Business in Fostering Peaceful Mavroidis, Petros C...... 18 Peitz, Martin ...... 28 Societies, The ...... 32 Maxton, Graeme P...... 31 Performance and Rewards Management32 Roncaglia, Alessandro...... 2 Maxwell, John W...... 38 Performance at the Limit...... 30 Rose, John M...... 11 Mazlish, Bruce ...... 34 Phillips, Peter C...... 40 Rose, Richard...... 42 McAdam, Doug ...... 23 Pitchford, Rohan...... 16 Rose-Ackerman, Susan...... 23 McCauley, Joseph L...... 21 Political Economy of Poland's Transition, Rosefielde, Steven...... 24 McIvor, Ronan...... 30 The...... 23 Rosen, Ori...... 12 Measure Theory and Filtering ...... 10 Politics of High-Tech Growth, The...... 26 Ross, Duncan...... 43 Medio, Alfredo...... 11 Pollard, David ...... 34 Ross, Sheldon M...... 41 Meyer, Marshall W...... 33 Pollard, John F...... 11 Rossi, Jim ...... 26 Microeconometrics...... 4 Poole, Keith T...... 12 Rowland, Patrick...... 21 Milevsky, Moshe ...... 42 Population Issues in Social Choice Theory, Rugman, Alan M...... 29 Milgrom, Paul ...... 13 Welfare Economics, and Ethics ...... 7 Ruppert, David...... 10 Miller, Douglas J...... 5 Postwar Migration in Southern Europe, Russia in the 21st Century ...... 24 Millward, Robert...... 33, 35 1950–2000 ...... 37 Missale, A...... 16 Potters, Marc ...... 21 S Mittelhammer, Ron C...... 5 Poznanska, Krystyna ...... 23 Sagoff, Mark...... 39 Modeling Aggregate Behavior and Price, Principle, and the Environment.....39 Sahay, Sundeep ...... 30 Fluctuations in Economics ...... 5 Price Theory and Applications...... 14 Salais, Robert...... 22 Modeling Monetary Economies ...... 16 Prices, Reproduction, Scarcity ...... 4 Samuelson, Paul A...... 2 Modigliani, Franco ...... 20 Primer on Climate Change and Sandler, Todd ...... 26 Monetary Policy, Fiscal Policies and Labour Sustainable Development...... 39 Sarno, Lucio...... 16 Markets ...... 16 Principles of Constraint Programming....10 Schieber, Sylvester J...... 22 Money and the Rise of the Modern Papacy Principles of Financial Economics ...... 21 Schipani, Cindy A...... 32 34 Private and Public Enterprise in Europe 33, Schneider, Ben Ross ...... 24 Montiel, Peter J...... 17 35 Schöne, Katja E...... 31 Moore, Don A...... 32 Probability and Statistics by Example.....10 Sciarra, Silvana ...... 28 Moore, Mike ...... 18 Probability in the Engineering and Scott, W. Richard...... 23 Moore, Pete W...... 24 Information Sciences...... 41 Search for American Political Development, Morley, Neville...... 34 Productivity Growth, Inflation, and The...... 25 Motta, Massimo ...... 14 Unemployment ...... 16 Sectoral Systems of Innovation...... 28 Mouer, Ross...... 28 Pryor, Frederic L...... 37 Security Rights in Movable Property in Moul, Charles C...... 29 Public Choice III...... 25 European Private Law ...... 27 Mueller, Dennis C...... 25 Public Finance and Public Policy...... 24 Seeing the State ...... 37 Munasinghe, Mohan...... 39 Pullen, John...... 4 Selling China ...... 23 Muralidhar, Arun...... 20 Putting Auction Theory to Work...... 13 Semiparametric Regression ...... 10 Muscatelli, V.A...... 16 Semiparametric Regression for the Applied Q Econometrician ...... 7 N Quantile Regression...... 7 Shapiro, Carl...... 13 Natale, P...... 16 Quantitative Models in Marketing Shephard, Neil...... 12 Natural Resources and Economic Research...... 32 Shields, John...... 32 Development ...... 38 Quantum Finance ...... 20 Shone, Ronald ...... 11 Naughton, Barry J...... 25 Shy, Oz ...... 15 New Community Firm, The ...... 31 Sieder, Rachel ...... 44 R Siklos, Pierre L...... 16 New Frontiers in Economics ...... 2 Ramrattan, Lall ...... 2 Nicholson, Brian ...... 30 Skeptical Environmentalist, The ...... 1 Rational Design of International Skowronek, Stephen ...... 25 Nolan, Charles...... 15 Institutions, The...... 26 Non-Linear Time Series Models in Smith, Timothy B...... 33 Rational Herds...... 1 Snidal, Duncan ...... 26 Empirical Finance...... 5 Ray, Subhash C...... 12 Nonlinear Dynamics...... 11 Social Choice and the Mathematics of Razin, Assaf...... 22 Manipulation ...... 25

For monthly email alerts visit www.cambridge.org/eservices 48 Author and Title Index

Social Citizenship and Workfare in the V United States and Western Europe .....27 Vallentyne, Peter ...... 40 Social Movements and Organization van den Bergh, Jeroen C. J. M...... 40 Theory ...... 23 van der Merwe, Cornelius G...... 27 Social Security Reform...... 22 van der Vaart, A. W...... 12 Sociology of Work in Japan, A ...... 28 Vandenberghe, Lieven...... 10 Solow, Robert M...... 23 Varian, Hal R...... 13 Spatial Ecological-Economic Analysis for Vaughan Williams, Leighton ...... 19 Wetland Management ...... 40 Vega-Redondo, Fernando...... 15 Spatial Models of Parliamentary Voting .12 Venturini, Alessandra ...... 37 Srinivasan, T. N...... 14 Veron, Rene...... 37 Srivastava, Manoj ...... 37 Villeneuve, Robert...... 22 Stagl, Sigrid ...... 38 Vines, David...... 18 State Space and Unobserved Component Vogel, Harold L...... 20 Models ...... 12 Statistical Models ...... 10 Statistics, Econometrics and Forecasting..6 W Steinherr, Alfred ...... 37 Wand, M. P...... 10 Stiglitz, Joseph...... 17 Wassily Leontief and Input-Output Stochastic Optimization in Continuous Economics ...... 4 Time ...... 12 Watson, Mark...... 8 Stock, James H...... 5 Watson, Mark W...... 8 Storme, Matthias E...... 27 Waxman, Matthew C...... 25 Strategy and Organization ...... 32 Wealth of Ideas, The ...... 2 Strauss, Julia...... 44 Weather Derivative Valuation ...... 19 Structural Econometric Time Series Analysis Weighing the Odds...... 11 Approach, The...... 5 Weinhold, Diana...... 40 Sugden, Robert...... 3 Weiman, David ...... 43 Suhov, Yuri...... 10 Werner, Jan...... 21 Sunstein, Cass R...... 1 West, Richard ...... 30 Swanson, Norman R...... 8 Whalley, John ...... 14 Swart, Rob...... 39 Whittaker, D. Hugh...... 31 Systemic Financial Crises...... 19 Wilkinson, Nick...... 29 Szenberg, Michael ...... 2 William Stanley Jevons and the Making of Szirmai, Adam...... 36 Modern Economics...... 4 Williams, David...... 11 Williams, Glyn...... 51 T Winters, L. Alan ...... 18 T. R. Malthus...... 4 Wood, John H...... 35 Tanner, Martin A...... 12 Wooders, Myrna ...... 14 Taylor, Alan D...... 25 World Cities beyond the West ...... 36 Taylor, Alan M...... 17 World Trade Review ...... 41 Taylor, Mark P...... 16 World Without Walls, A ...... 18 Technology, Television, and Competition28 Wormald, John ...... 31 Theory of Financial Risk and Derivative Wunder, Sven...... 40 Pricing ...... 21 Thomas, Mark...... 35 Tiffen, Rodney...... 24 Time for a Model Change ...... 31 X Tirelli, P...... 16 Xepapadeas, Anastasios...... 42 Toniolo, Gianni ...... 33 Towards a New Paradigm in Monetary Y Economics ...... 17 Yang, Dali L...... 25 Trade in Classical Antiquity...... 34 Yatchew, Adonis ...... 7 Train, Kenneth E...... 11 Trivedi, Pravin ...... 4 Turnovsky, Stephen J...... 16, 23 Z Zald, Mayer ...... 23 U Zellner, Arnold...... 5, 6 Ziehmann, Christine...... 19 Unbound Prometheus, The ...... 35 Unit Roots, Cointegration, and Structural Change...... 7 User's Guide to Measure Theoretic Probability, A...... 11 Uzawa, Hirofumi...... 2 Customer Services Cambridge University Press Bookshop Booksellers Cambridge University Press Bookshop For order processing and customer service, please contact: occupies the historic site of 1 Trinity UK and Europe International Street, Cambridge CB2 1SZ, where the complete range of titles is on sale. Catherine Atkins Phone + 44 (0)1223 325566 Sophie Ailyati- Phone + 44 (0)1223 325577 Fax + 44 (0)1223 325959 Singleton Fax + 44 (0)1223 325151 Bookshop Manager: Cathy Ashbee Email [email protected] Email [email protected] Phone + 44 (0)1223 333333 or [email protected] Fax + 44 (0)1223 332954 Your telephone call may be monitored for training purposes. Email [email protected] Account-holding booksellers can order online at www.cambridge.org/booksellers or at www.PubEasy.com

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