The Economics Of New Goods

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The Economics Of New Goods

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Author : Timothy F. Bresnahan
language : en
Publisher: University of Chicago Press
Release Date : 2008-04-15

The Economics Of New Goods written by Timothy F. Bresnahan and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04-15 with Business & Economics categories.

New goods are at the heart of economic progress. The eleven essays in this volume include historical treatments of new goods and their diffusion; practical exercises in measurement addressed to recent and ongoing innovations; and real-world methods of devising quantitative adjustments for quality change. The lead article in Part I contains a striking analysis of the history of light over two millenia. Other essays in Part I develop new price indexes for automobiles back to 1906; trace the role of the air conditioner in the development of the American south; and treat the germ theory of disease as an economic innovation. In Part II essays measure the economic impact of more recent innovations, including anti-ulcer drugs, new breakfast cereals, and computers. Part III explores methods and defects in the treatment of quality change in the official price data of the United States, Canada, and Japan. This pathbreaking volume will interest anyone who studies economic growth, productivity, and the American standard of living.

A New Approach To The Economics Of Public Goods

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Author : Thomas Laudal
language : en
Publisher: Routledge
Release Date : 2019-08-28

A New Approach To The Economics Of Public Goods written by Thomas Laudal and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-28 with Business & Economics categories.

Public goods are typically defined only in reference to the good itself but, as this book argues, the public goods can be better understood if contextual variables are incorporated. This book discusses the production and provision of public goods. It asserts that changes related to public goods are better understood if the category of goods are not decided solely by the properties of the good itself. We also need to focus on how the enabled utility of a good is influenced by the production and the provision of the good. The book opens with a brief introduction to common conceptions of public goods and a review of the existing literature - highlighting the limitations of current definitions of public goods. It presents a new multi-layered approach to public goods. This has implications for the discourse on public goods and for our understanding of the societal and environmental impact of public goods. The implications are illustrated in several areas; public goods in ancient history, privatization, innovation, competitiveness and prices, democracy and political standards, and economic growth. The book provides a provocative argument for a new way to analyze public goods which will appeal to scholars and students interested in the economic analysis of public goods, arguments regarding the privatizing or nationalizing of production and services, and method of modelling and measuring sustainable business activities.

The Microeconomics Of Product Innovation

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Author : Paul Stoneman
language : en
Publisher: Oxford University Press
Release Date : 2018-02-22

The Microeconomics Of Product Innovation written by Paul Stoneman and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-22 with Business & Economics categories.

Economics has not given sufficient attention to the microeconomic analysis of innovation and technological change. Counteracting this imbalance, The Microeconomics of Product Innovation considers how the use of economic analysis can guide and inform the search for insight in the generation and adoption of new products synonymously labelled product innovation. Written in an accessible tone and restricting its analysis to the use of microeconomics, this book encompasses the definition of product innovation. It explores means of measurement and revealed patterns of the extent of product innovation; the economic analysis of the forces driving the demand for, the supply of, and incentives to generate new products; empirical evidence upon the determinants of the extent of product innovation; the diffusion of product innovations; product innovation and firm performance; price measurement under product innovation; product innovation and welfare; and public policy and product innovation.

New Goods Old Theory And The Welfare Costs Of Trade Restrictions

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Author : Paul Michael Romer
language : en
Publisher:
Release Date : 1993

New Goods Old Theory And The Welfare Costs Of Trade Restrictions written by Paul Michael Romer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Monopolies categories.

The typical economic model implicitly assumes that the set of goods in an economy never changes. As a result, the predicted efficiency loss from a tariff is small, on the order of the square of the tariff rate. If we loosen this assumption and assume that international trade can bring new goods into an economy, the fraction of national income lost when a tariff is imposed can be much larger, as much as two times the tariff rate. Much of this paper is devoted to explaining why this seemingly small change in the assumptions of a model can have such important positive and normative implications. The paper also asks why the implications of new goods have not been more extensively explored, especially given that the basic economic issues were identified more than 150 years ago. The mathematical difficulty of modeling new goods has no doubt been part of the problem. An equally, if not more important stumbling block has been the deep philosophical resistance that humans feel toward the unavoidable logical consequence of assuming that genuinely new things can happen at every juncture: the world as we know it is the result of a long string of chance outcomes.

The Economics Of Digital Transformation

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Author : Katarzyna Śledziewska
language : en
Publisher: Routledge
Release Date : 2021-08-01

The Economics Of Digital Transformation written by Katarzyna Śledziewska and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-01 with Business & Economics categories.

The unprecedented Covid-19 crisis revealed the scale and scope of a new type of economy taking shape in front of our very eyes: the digital economy. This book presents a concise theoretical and conceptual framework for a more nuanced analysis of the economic and sociological impacts of the technological disruption that is taking place in the markets of goods and services, labour markets, and the global economy more generally. This interdisciplinary work is a must for researchers and students from economics, business, and other social science majors who seek an overview of the main digital economy concepts and research. Its down-to-earth approach and communicative style will also speak to businesses practitioners who want to understand the ongoing digital disruption of the market rules and emergence of the new digital business models. The book refers to academic insights from economics and sociology while giving numerous empirical examples drawn from basic and applied research and business. It addresses several burning issues: how are digital processes transforming traditional business models? Does intelligent automation threaten our jobs? Are we reaching the end of globalisation as we know it? How can we best prepare ourselves and our children for the digitally transformed world? The book will help the reader gain a better understanding of the mechanisms behind the digital transformation, something that is essential in order to not only reap the plentiful opportunities being created by the digital economy but also to avoid its many pitfalls. Chapters 1, 3 and 5 of this book are available for free in PDF format as Open Access from the individual product page at www.routledge.com. They have been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

Quality Measurement In Economics

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Author : Steven Payson
language : en
Publisher:
Release Date : 1994

Quality Measurement In Economics written by Steven Payson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Quality of products categories.

The Economic Theory Of Price Indices

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Author : Franklin M. Fisher
language : en
Publisher: Academic Press
Release Date : 2014-05-10

The Economic Theory Of Price Indices written by Franklin M. Fisher and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-10 with Business & Economics categories.

The Economic Theory of Price Indices: Two Essays on the Effects of Taste, Quality, and Technological Change is concerned with the effects of consumer taste, product quality, and technological change on price indices. Special attention is paid on technological change in the simple two-sector production model of Rybczynski and Uzawa. The effects of the general case of changing factor supplies and factor-augmenting change on the real national output deflator are also examined. Comprised of two essays, this book begins with an analysis of the pure theory of the true cost-of-living index, which may be considered as an idealization of indices like the consumer price index and others of that type. The essay explores how the true cost-of-living index is affected by changes in consumer taste, quality changes in purchased goods, and the introduction of new goods into the market place. The second essay deals with the pure theory of the national output deflator and provides a foundation for the measurement of real national output (or product). It shows that the usual inequalities relating Paasche and Laspeyres to the true index are reversed (from what they are in cost-of-living theory) for the case of production. It also assesses the implications of changing production possibilities caused by technological change or a change in factor supplies. This monograph will be a useful resource for mathematicians, economists, and others interested in economic theory and mathematical economics.

Managing New Product Development And Innovation

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Author : Hariolf Grupp
language : en
Publisher: Edward Elgar Publishing
Release Date : 2001

Managing New Product Development And Innovation written by Hariolf Grupp and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Benchmarking categories.

The volume features a selection of practical microeconomic tools for managing new product development and innovation. By quantifying product features and evaluating the costs and market value of improving each, a simple yet powerful conceptual framework is created. Using this framework, creative business models can be built, along with innovative products, services and processes that achieve marketplace success.

Labor Credit And Goods Markets

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Author : Nicolas Petrosky-Nadeau
language : en
Publisher: MIT Press
Release Date : 2017-11-10

Labor Credit And Goods Markets written by Nicolas Petrosky-Nadeau and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-10 with Business & Economics categories.

An integrated framework to study the theoretical and quantitative properties of economies with frictions in labor, financial, and goods markets. This book offers an integrated framework to study the theoretical and quantitative properties of economies with frictions in multiple markets. Building on analyses of markets with frictions by 2010 Nobel laureates Peter A. Diamond, Dale T. Mortensen, and Christopher A. Pissarides, which provided a new theoretical approach to search markets, the book applies this new paradigm to labor, finance, and goods markets. It shows, in particular, how frictions in different markets interact with each other. The book first covers the main developments in the analysis of the labor market in the presence of frictions, offering a systematic analysis of the dynamics of this environment and explaining the notion of macroeconomic volatility. Then, building on the generality and simplicity of the search analysis, the book adapts it to other markets, developing the tools and concepts to analyze friction in these markets. The book goes beyond the traditional general equilibrium analysis of markets, which is often frictionless. It begins with the standard analysis of a single market, and then sequentially integrates more markets into the analysis, progressing from labor to financial to goods markets. Along the way, the book provides a number of useful results and insights, including the existence of a direct link between search frictions and the degree of volatility in the economy.

Price Expectations In Goods And Financial Markets

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Author : François Gardes
language : en
Publisher: Edward Elgar Publishing
Release Date : 2000

Price Expectations In Goods And Financial Markets written by François Gardes and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.

Economists and scholars in related fields discuss the concept of rationality of expectations from both a theoretical and an empirical point of view, and at both individual and collective levels. Concerning the first aspect, the book focuses on how agents collect and process information and how market opinion is formed. Concerning the second aspect, it presents studies based on individual price expectations and on the consensus revealed by survey data. Contributors analyze price expectations in a variety of markets, periods, and countries, paying special attention to financial markets which have represented the main field of study over the last ten years. Annotation copyrighted by Book News Inc., Portland, OR