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Notes and Sources for Evil Geniuses: the Unmaking of America: a Recent History
Notes and Sources for Evil Geniuses: The Unmaking of America: A Recent History Introduction xiv “If infectious greed is the virus” Kurt Andersen, “City of Schemes,” The New York Times, Oct. 6, 2002. xvi “run of pedal-to-the-medal hypercapitalism” Kurt Andersen, “American Roulette,” New York, December 22, 2006. xx “People of the same trade” Adam Smith, The Wealth of Nations, ed. Andrew Skinner, 1776 (London: Penguin, 1999) Book I, Chapter X. Chapter 1 4 “The discovery of America offered” Alexis de Tocqueville, Democracy In America, trans. Arthur Goldhammer (New York: Library of America, 2012), Book One, Introductory Chapter. 4 “A new science of politics” Tocqueville, Democracy In America, Book One, Introductory Chapter. 4 “The inhabitants of the United States” Tocqueville, Democracy In America, Book One, Chapter XVIII. 5 “there was virtually no economic growth” Robert J Gordon. “Is US economic growth over? Faltering innovation confronts the six headwinds.” Policy Insight No. 63. Centre for Economic Policy Research, September, 2012. --Thomas Piketty, “World Growth from the Antiquity (growth rate per period),” Quandl. 6 each citizen’s share of the economy Richard H. Steckel, “A History of the Standard of Living in the United States,” in EH.net (Economic History Association, 2020). --Andrew McAfee and Erik Brynjolfsson, The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies (New York: W.W. Norton, 2016), p. 98. 6 “Constant revolutionizing of production” Friedrich Engels and Karl Marx, Manifesto of the Communist Party (Moscow: Progress Publishers, 1969), Chapter I. 7 from the early 1840s to 1860 Tomas Nonnenmacher, “History of the U.S. -
American Political Thought: Readings and Materials Keith E. Whittington
American Political Thought: Readings and Materials Keith E. Whittington Index of Materials for Companion Website 2. The Colonial Era, Before 1776 II. Democracy and Liberty John Adams, Letter to James Sullivan (1776) John Cotton, The Bloudy Tenent Washed and Made White (1647) John Cotton, Letter to Lord Say and Seal (1636) Jacob Duche, The Duty of Standing Fast in Our Spiritual and Temporal Liberties (1775) Massachusetts Body of Liberties (1641) James Otis, Rights of the British Colony Asserted and Proved (1764) Elisha Williams, The Essential Rights and Liberties of Protestants (1744) Roger Williams, The Bloudy Tenent Yet More Bloudy (1652) John Winthrop, Arbitrary Government Described (1644) John Winthrop, A Defense of an Order of Court (1637) John Winthrop, Defense of the Negative Vote (1643) III. Citizenship and Community Agreement among the Settlers of Exeter, New Hampshire (1639) Combination of the Inhabitants of the Piscataqua River for Government (1641) Robert Cushman, The Sin and Danger of Self-Love (1621) Fundamental Agreement, or Original Constitution of the Colony of New Haven (1639) Fundamental Orders of Connecticut (1639) Patrick Henry, Give Me Liberty Speech (1775) William Livingston, “The Vanity of Birth and Titles” (1753) Oath of a Freeman in Massachusetts Bay (1632) Thomas Tryon, The Planter’s Speech to His Neighbors and Countrymen (1684) IV. Equality and Status Address of the Mechanics of New York City (1776) Jonathan Boucher, Sermon on the Peace (1763) Charles Inglis, The True Interest of America (1776) William Knox, Three Tracts Respecting the Conversion (1768) William Byrd, Letter to Lord Egmont (1736) Samuel Sewall, The Selling of Joseph (1700) John Saffin, A Brief and Candid Answer (1701) John Woolman Some Considerations on Keeping Negroes (1762) V. -
Biographies BIOGRAPHIES 327
Biographies BIOGRAPHIES 327 ALDRICH, John Herbert Articles 1. “A method of scaling with applications to the 1968 and 1972 U.S. presidential elections.” American Political Born Science Review, 11(March):1977 (with Richard September 24, 1947, Pittsburgh, Pennsylvania, USA McKelvey). Current Position 2. “The dilemma of a paretian liberal: some consequences Pfizer-Pratt University Professor of Political Science, Duke of Sen’s theorem,” and “Liberal games: further thoughts University, Durham, North Carolina, 1997–. on social choice and game theory.” Public Choice, 30(Summer):1977. Degrees 3. “Electoral choice in 1972: a test of some theorems of B.A., Allegheny College, 1969; M.A., Ph.D., University of the spatial model of electoral competition.” Journal of Rochester, 1971, 1975. Mathematical Sociology, 5:1977. 4. “A dynamic model of presidential nomination Offices and Honors campaigns.” American Political Science Review, Co-Editor, American Journal of Political Science, 14(September):1980. 1985–1988 (with John L. Sullivan). 5. “A spatial model with party activists: implications for President, Southern Political Science Association, electoral dynamics,” and “rejoinder.” Public Choice, 1988–1989. 41:1983. Fellow, Center for Advanced Study in the Behavioral 6. “A downsian spatial model with party activism.” Sciences, 1989–1990. American Political Science Review, 17(December):1983. Fellow, Bellagio Center, 2002. 7. “Southern parties in state and nation.” Journal of Heinz Eulau Award (best article in the American Political Politics, August:2000. Science Review), 1990 (with Eugene Borgida and John L. 8. “Challenges to the American two-party system: Sullivan). evidence from the 1968, 1980, 1992, and 1996 presi- Gladys Kammerer Award (best book on U.S. -
Consumers' Surplus 1506 26
Consumers’ surplus when individuals lack integrated preferences: a development of some ideas from Dupuit Robert Sugden School of Economics, University of East Anglia Norwich NR4 7TJ, United Kingdom [email protected] 25 June 2015 Abstract: In modern economics, consumers’ surplus is understood as the sum of individuals’ compensating variations, defined by reference to well-behaved preferences. If individuals lack integrated preferences, as behavioural economics suggests they often do, consumers’ surplus cannot be defined. However, Dupuit – the earliest theorist of consumers’ surplus – did not assume integrated preferences. His concept of consumers’ surplus can be interpreted in terms of the maximum yield of discriminatory prices. In principle, this can be measured without making assumptions about preferences, but (contrary to what Dupuit apparently thought) is not in general equal to the area under the observed demand curve. Keywords : consumers’ surplus, price discrimination, integrated preferences, Dupuit Acknowledgements : This paper was presented at the conference of the European Society for History of Economic Thought, Lausanne, May 2014. I thank participants at this conference and three anonymous referees for their comments. My work was supported by the Economic and Social Research Council through the Network for Integrated Behavioural Science (grant reference ES/K002201/1). 1 ‘Hence the saying which we shall often repeat because it is often forgotten: the only real utility is that which people are willing to pay for’ (Jules Dupuit, 1844/ 1952, p. 262). Consumers’ surplus is one of the most important theoretical constructs in applied welfare economics. It plays an essential part in normative economic analyses of competition policy, of price regulation for natural monopolies, and of public provision of non-marketed goods such as road space, flood protection and free health care. -
The Law and Economics of Price Discrimination in Modern Economies: Time for Reconciliation?
Scholarship Repository University of Minnesota Law School Articles Faculty Scholarship 2010 The Law and Economics of Price Discrimination in Modern Economies: Time for Reconciliation? Daniel J. Gifford University of Minnesota Law School, [email protected] Robert T. Kudrle University of Minnesota Hubert Humphrey Institute of Public Affairs, [email protected] Follow this and additional works at: https://scholarship.law.umn.edu/faculty_articles Part of the Law Commons Recommended Citation Daniel J. Gifford and Robert T. Kudrle, The Law and Economics of Price Discrimination in Modern Economies: Time for Reconciliation?, 43 U.C. DAVIS L. REV. 1235 (2010), available at https://scholarship.law.umn.edu/faculty_articles/358. This Article is brought to you for free and open access by the University of Minnesota Law School. It has been accepted for inclusion in the Faculty Scholarship collection by an authorized administrator of the Scholarship Repository. For more information, please contact [email protected]. The Law and Economics of Price Discrimination in Modern Economies: Time for Reconciliation? Daniel J. Gifford* Robert T. Kudrle** TABLE OF CONTENTS INTRODUCTION: LAWS TARGETING PRICE DISCRIMINATION .............. 1237 1. ECONOMIC CONCEPTIONS OF PRICE DISCRIMINATION: A BRIEF R EVIEW ..................................................................... 1239 A. Price Discrimination,Defined .......................................... 1239 B. Arbitrage,Market Power, and PriceDiscrimination ........ 1243 C. Price DiscriminationInvolving the Rates -
Friedrich A. Von Hayek Papers, Date (Inclusive): 1906-2005 Collection Number: 86002 Creator: Hayek, Friedrich A
http://oac.cdlib.org/findaid/ark:/13030/kt3v19n8zw No online items Register of the Friedrich A. von Hayek Papers Processed by Linda Bernard and David Jacobs Hoover Institution Archives Stanford University Stanford, California 94305-6010 Phone: (650) 723-3563 Fax: (650) 725-3445 Email: [email protected] © 1998, 2003, 2011 Hoover Institution Archives. All rights reserved. Register of the Friedrich A. von 86002 1 Hayek Papers Register of the Friedrich A. von Hayek Papers Hoover Institution Archives Stanford University Stanford, California Contact Information Hoover Institution Archives Stanford University Stanford, California 94305-6010 Phone: (650) 723-3563 Fax: (650) 725-3445 Email: [email protected] Processed by: Linda Bernard and David Jacobs Date Completed: 1998, 2000, 2011 Encoded by: James Lake, ByteManagers using OAC finding aid conversion service specifications, and Elizabeth Phillips © 2011 Hoover Institution Archives. All rights reserved. Descriptive Summary Title: Friedrich A. von Hayek papers, Date (inclusive): 1906-2005 Collection number: 86002 Creator: Hayek, Friedrich A. von (Friedrich August), 1899-1992. Extent: 139 manuscript boxes, 8 oversize boxes, 23 card file boxes, 5 envelopes, 2 audio tapes, 16 videotape cassettes, digital files(66 linear feet) Repository: Hoover Institution Archives Stanford, California 94305-6010 Abstract: Diaries, correspondence, speeches and writings, notes, conference papers, conference programs, printed matter, sound recordings, and photographs, relating to laissez-faire economics and associated concepts of liberty, and especially to activities of the Mont Pèlerin Society. Most of collection also available on microfilm (91 reels). Sound use copies of sound recordings available. Physical Location: Hoover Institution Archives Language: English and German. Access Collection is open for research. -
Did Constitutions Matter During the American Civil War?
DID CONSTITUTIONS MATTER DURING THE AMERICAN CIVIL WAR? SUKRIT SABHLOK Monash University, Australia Abstract: The question of why the Confederate States of America lost the American Civil War has been extensively discussed, with scholars such as Frank Owsley and David Donald arguing that constitutional text and philosophy – and a preference for local over central government action – constrained the CSA’s options and therefore prospects for victory. While Owsley and Donald’s portrayal of a government hindered by constitutional fidelity has been countered by Richard Beringer, Herman Hattaway and William Still, who have pointed out that the Confederate government grew in size and scope during the war in spite of apparent legal restrictions, there has been limited examination of the factual basis underlying the thesis that constitutions functioned as a restraint. This paper addresses the US Constitution and the Confederate Constitutions (provisional and final) with special attention to how certain provisions and interpretive actions may have constrained the central government in the realm of economic policy. I find that both documents were not clearly relevant due to being inconsistently obeyed. The Confederacy disregarded provisions relating to fiscal, monetary and trade policy, even though it is likely that adhering to its Constitution in these areas could have strengthened its position and allowed it to supply its armies more adequately. It is likely that non-constitutional discretionary factors primarily account for the Confederacy’s defeat. I INTRODUCTION Now, our Constitution is new; it has gone through no perils to test and try its strength and capacity for the work it was intended to perform. -
Space, Railways, and Market Structures1
Space, Railways, and Market Structures1 In Memory of Héctor Grupe By Manuel Fernández López Institute of Economic Research (University of Buenos Aires), CONICET, and National Academy of Economic Sciences 1. Introduction The market demand for a good descends when its price increases. This is a plain fact, observable in the real world. However the same fact may mean different things for the seller, according to the number of other competitors operating in the market. When the number is high, and thus small the part of total production under control of an individual business, any seller may change its own supply without altering the market price. If he supplies more, this doesn't cause the market price to be diminished. Any individual supplier, at the market price, may throw on the market at the same price all the units supplied, whatever the quantity. Selling one unit more accrues to him an additional gross revenue (i.e. “marginal revenue”) equal to the price (or unit revenue). His profit is increased whenever the selling of one unit more causes a cost-increase which is less than the increase of gross revenue: that is, when marginal cost is less than the market price. On the contrary, when the share of the individual seller in the market supply is significant, an increase of his individual supply is perceived by the market as a greater supply, and thus the market price decreases. All the more when the seller is just one (a monopoly) for the whole market. In such a case, the market demand is also the monopolist's unit or average revenue. -
Jules Dupuit and the Railroads: What Is the Role of the State? Philippe Poinsot
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Archive Ouverte en Sciences de l'Information et de la Communication Jules Dupuit and the railroads: what is the role of the State? Philippe Poinsot To cite this version: Philippe Poinsot. Jules Dupuit and the railroads: what is the role of the State?. Journal of the History of Economic Thought, Informa UK (Taylor & Francis), 2016, 38 (2), 10.1017/S1053837216000080. hal-01383443 HAL Id: hal-01383443 https://hal.archives-ouvertes.fr/hal-01383443 Submitted on 22 Aug 2019 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. JULES DUPUIT AND THE RAILROADS: WHAT IS THE ROLE OF THE STATE? ABSTRACT The emergence of railroads in France in the nineteenth century gave rise to new debates on analytical issues. The focus of interest lay in the fact that they are natural monopolies. In this paper, I focus on Jules Dupuit’s work on the operations of the railroad sector. Curiously, he seemed to have defended two contrasting positions, opening the way for debate among com- mentators: on the one hand, he claimed that unlimited competition is the most efficient way to operate in the railroad sector; on the other, he stated that State management was the best way to run the railroads. -
The Economics of E-Commerce and Technology
The Economics of E-commerce and Technology Monetization: Prices and Advertising 1 10/13/2016 The Stages of Buying (The Marketing Funnel) Marketing Other Networks • Content • Broadcast of premium Funnel content on multiple • SEO, SEM, display, platforms Awareness email and word-of- mouth • Synchronized marketing campaigns Company X leverages its • Frequency of • Mass media Lower Familiarity user visits (pull) Broadcast relationships frequency (push) with content providers to • Rise of third-party reviews • Participation in target a community features • Comments / message high-value Opinion boards • Brand affiliation user • Content / brand Consideration affinity Consumer Value of Value Company X network is • Typically lose the user • Company X can comprised of and data at this juncture capitalize on and high-value Intent as users exit the network influence intent users with expressed • Company X can intent Shopping facilitate process Higher Purchase 2 10/13/2016 Basic Monopoly Pricing 3 10/13/2016 Monopoly Pricing: Recap Constant marginal cost, c. Firm chooses quantity to maximize profits (q) q(p(q) c) First-order condition MR(q) c Inverse elasticity rule p c 1 p dq where e p e q dp 4 10/13/2016 Multi-product monopolist Microsoft sells XBox and Halo If sell separately optimal prices pX=300, pH=50. But they sell both: how should they price them? Walmart sells Xbox and PS3 If sell separately optimal prices pX=300, pPS=400. But they sell both: how should they price? Economist sells print and online editions How should they price? 5 10/13/2016 Multi-product monopolist Firm chooses (q1,q2) to maximize (q1,q2 ) q1( p1(q1,q2 ) c1) q2 ( p2 (q1,q2 ) c2 ) Inverse elasticity rule for p1 p c 1 ( p c )q p dq 1 1 2 2 2 e where e 1 2 12 12 p1 e11 p1q1e11 q2 dp1 Substitutes: e12<0 Negative externality so increase p1. -
United States Competition Policy in Crisis: 1890-1955 Herbert Hovenkamp
University of Minnesota Law School Scholarship Repository Minnesota Law Review 2009 United States Competition Policy in Crisis: 1890-1955 Herbert Hovenkamp Follow this and additional works at: https://scholarship.law.umn.edu/mlr Part of the Law Commons Recommended Citation Hovenkamp, Herbert, "United States Competition Policy in Crisis: 1890-1955" (2009). Minnesota Law Review. 483. https://scholarship.law.umn.edu/mlr/483 This Article is brought to you for free and open access by the University of Minnesota Law School. It has been accepted for inclusion in Minnesota Law Review collection by an authorized administrator of the Scholarship Repository. For more information, please contact [email protected]. Article United States Competition Policy in Crisis: 1890-1955 Herbert Hovenkampt INTRODUCTION: HISTORICAL EXPLANATION AND THE MARGINALIST REVOLUTION The history of legal policy toward the economy in the United States has emphasized interest group clashes that led to regula- tory legislation.' This is also true of the history of competition policy. 2 Many historians see regulatory history as little more than a political process in which well-organized, dominant interest groups obtain political advantage and protect their particular in- dustry from competition, typically at the expense of consumers.3 t Ben V. & Dorothy Willie Professor, University of Iowa College of Law. Thanks to Christina Bohannan for commenting on a draft. Copyright 0 2009 by Herbert Hovenkamp. 1. See, e.g., WILLIAM J. NOVAK, THE PEOPLE'S WELFARE: LAW AND REGULA- TION IN NINETEENTH-CENTURY AMERICA 83-84 (1996); THE REGULATED ECONO- MY: A HISTORICAL APPROACH TO POLITICAL ECONOMY 12-22 (Claudia Goldin & Gary D. -
Competitive Screening Under Heterogeneous Information
Competitive Screening under Heterogeneous Information Daniel Garrett⇤ Renato Gomes† Lucas Maestri‡ First Version: November, 2013. This Version: April, 2016. Abstract We build a theory of second-degree price discrimination under imperfect competition that allows us to study the substitutive role of prices and qualities in increasing sales. A key feature of our model is that consumers are heterogeneously informed about the o↵ers available in the market, which leads to dispersion over price-quality menus in equilibrium. While firms are ex- ante identical, their menus are ordered so that more generous menus leave more surplus uniformly over consumer types. We generate empirical predictions by exploring the e↵ects of changes in market fundamentals on the distribution of surplus across types, and pricing across products. For instance, more competition may raise prices for low-quality goods; yet, consumers are better o↵, as the qualities they receive also increase. The predictions of our model illuminate empirical findings in many markets, such as those for cell phone plans, yellow-pages advertising, cable TV and air travel. JEL Classification: D82 Keywords: competition, screening, heterogeneous information, price discrimination, adverse selection ⇤Toulouse School of Economics, University of Toulouse Capitole, [email protected]. †Toulouse School of Economics, University of Toulouse Capitole (CNRS), [email protected]. ‡Getulio Vargas Foundation (EPGE), [email protected]. 1 Introduction Price discrimination through menus of products, exhibiting di↵erent combinations of quality and price, is a widespread practice across many industries. Examples include flight tickets with di↵erent terms and conditions, cell phone plans with increasing usage allowances, and television subscriptions in basic and premium versions.