The Limits Of Organization By Kenneth J Arrow
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The Limits Of Organization
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Author : Kenneth J. Arrow
language : en
Publisher: W. W. Norton & Company
Release Date : 1974-02-17
The Limits Of Organization written by Kenneth J. Arrow and has been published by W. W. Norton & Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974-02-17 with Business & Economics categories.
The tension between what we wish for and what we can get, between values and opportunities, exists even at the purely individual level. A hermit on a mountain may value warm clothing and yet be hard-pressed to make it from the leaves, bark, or skins he can find. But when many people are competing with each other for satisfaction of their wants, learning how to exploit what is available becomes more difficult. In this volume, Nobel Laureate Kenneth J. Arrow analyzes why - and how - human beings organize their common lives to overcome the basic economic problem: the allocation of scarce resources. The price system is one means of organizing society to mediate competition, and Arrow analyzes its successes and failures. Alternative modes of achieving efficient allocation of resources are explored: government, the internal organization of the firm, and the 'invisible institutions' of ethical and moral principles. Professor Arrow shows how these systems create channels to make decisions, and discusses the costs of information acquisition and retrieval. He investigates the factors determining which potential decision variables are recognized as such. Finally, he argues that organizations must achieve some balance between the power of the decision makers and their obligation to those who carry out their decisions - between authority and responsibility.
The Arrow Impossibility Theorem
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Author : Eric Maskin
language : en
Publisher: Columbia University Press
Release Date : 2014-07-08
The Arrow Impossibility Theorem written by Eric Maskin and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-08 with Business & Economics categories.
Kenneth Arrow's pathbreaking Òimpossibility theoremÓ was a watershed in the history of welfare economics, voting theory, and collective choice, demonstrating that there is no voting rule that satisfies the four desirable axioms of decisiveness, consensus, nondictatorship, and independence. In this book, Amartya Sen and Eric Maskin explore the implications of ArrowÕs theorem. Sen considers its ongoing utility, exploring the theoremÕs value and limitations in relation to recent research on social reasoning, while Maskin discusses how to design a voting rule that gets us closer to the idealÑgiven that achieving the ideal is impossible. The volume also contains a contextual introduction by social choice scholar Prasanta K. Pattanaik and commentaries from Joseph E. Stiglitz and Kenneth Arrow himself, as well as essays by Sen and Maskin outlining the mathematical proof and framework behind their assertions.
Creating A Learning Society
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Author : Joseph E. Stiglitz
language : en
Publisher: Columbia University Press
Release Date : 2015-10-06
Creating A Learning Society written by Joseph E. Stiglitz and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-06 with Business & Economics categories.
“A superb new understanding of the dynamic economy as a learning society, one that goes well beyond the usual treatment of education, training, and R&D.”—Robert Kuttner, author of The Stakes: 2020 and the Survival of American Democracy Since its publication Creating a Learning Society has served as an effective tool for those who advocate government policies to advance science and technology. It shows persuasively how enormous increases in our standard of living have been the result of learning how to learn, and it explains how advanced and developing countries alike can model a new learning economy on this example. Creating a Learning Society: Reader’s Edition uses accessible language to focus on the work’s central message and policy prescriptions. As the book makes clear, creating a learning society requires good governmental policy in trade, industry, intellectual property, and other important areas. The text’s central thesis—that every policy affects learning—is critical for governments unaware of the innovative ways they can propel their economies forward. “Profound and dazzling. In their new book, Joseph E. Stiglitz and Bruce C. Greenwald study the human wish to learn and our ability to learn and so uncover the processes that relate the institutions we devise and the accompanying processes that drive the production, dissemination, and use of knowledge . . . This is social science at its best.”—Partha Dasgupta, University of Cambridge “An impressive tour de force, from the theory of the firm all the way to long-term development, guided by the focus on knowledge and learning . . . This is an ambitious book with far-reaching policy implications.”—Giovanni Dosi, director, Institute of Economics, Scuola Superiore Sant’Anna “[A] sweeping work of macroeconomic theory.”—Harvard Business Review
The Rate And Direction Of Inventive Activity
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Author : National Bureau of Economic Research
language : en
Publisher: Princeton University Press
Release Date : 2015-12-08
The Rate And Direction Of Inventive Activity written by National Bureau of Economic Research and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-08 with Political Science categories.
The papers here range from description and analysis of how our political economy allocates its inventive effort, to studies of the decision making process in specific industrial laboratories. Originally published in 1962. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Social Choice And Multicriterion Decision Making
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Author : Kenneth Joseph Arrow
language : en
Publisher: Mit Press
Release Date : 1986
Social Choice And Multicriterion Decision Making written by Kenneth Joseph Arrow and has been published by Mit Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Business & Economics categories.
A study of the industrial outranking problem, one of the major outstanding problems of current operations research and managerial decision-making.
Arrow And The Foundations Of The Theory Of Economic Policy
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Author : George R. Feiwel
language : en
Publisher: Palgrave Macmillan
Release Date : 2014-01-14
Arrow And The Foundations Of The Theory Of Economic Policy written by George R. Feiwel and has been published by Palgrave Macmillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-14 with Business & Economics categories.
Issues In Contemporary Macroeconomics And Distribution
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Author : George R. Feiwel
language : en
Publisher: SUNY Press
Release Date : 1985-01-01
Issues In Contemporary Macroeconomics And Distribution written by George R. Feiwel and has been published by SUNY Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985-01-01 with Business & Economics categories.
This important book and its companion volume, Issues in Contemporary Microeconomics and Welfare, capture and convey the spirit, fundamental issues, underlying tensions, rich variety, accomplishments, and failures in contemporary economics. It presents economics as a dynamic subject, showing its strengths and limitations, exploring alternative approaches, and tracing the sources of differences. The essays include original contributions by the theorists themselves; major interpretations, reflections, and assessments by leading economists, and evaluations of particular areas by rising young scholars.
The Limits Of Market Organization
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Author : Richard R. Nelson
language : en
Publisher: Russell Sage Foundation
Release Date : 2005-03-24
The Limits Of Market Organization written by Richard R. Nelson and has been published by Russell Sage Foundation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-03-24 with Business & Economics categories.
The last quarter century has seen a broad, but qualified, belief in the efficacy of market organization slide into an unyielding dogma that the market, as unconstrained as possible, is the best way to govern virtually all economic activity. However, unrestricted markets can often lead to gross inequalities in access to important resources, the creation of monopolies, and other negative effects that require regulation or public subsidies to remedy. In The Limits of Market Organization, editor Richard Nelson and a group of economic experts take a more sophisticated look at the public/private debate, noting where markets are useful, where they can be effective only if augmented by non-market mechanisms, and where they are simply inappropriate. The Limits of Market Organization examines the appropriateness of markets in four areas where support for privatization varies widely: human services, public utilities, science and technology, and activities where market involvement is altogether inappropriate. Richard Murnane makes the case that a social interest in providing equal access to high quality education means that for school voucher plans to be effective, substantial government oversight is necessary. Federal involvement in a transcontinental railroad system was initially applauded, but recent financial troubles at Amtrak have prompted many to call for privatization of the rails. Yet contributor Elliot Sclar argues that public subsidies are the only way to maintain this vital part of the American transportation infrastructure. While market principles can promote competition and foster innovation, applying them in certain areas can actually stifle progress. Nelson argues that aggressive patenting has hindered scientific research by restricting access to tools and processes that could be used to generate new findings. He suggests that some kind of exception to patent law should be made for scientists who seek to build off of patented findings and then put their research results into the public domain. In other spheres, market organization is altogether unsuitable. Legal expert Richard Briffault looks at one such example—the democratic political process—and profiles the successes and failures of campaign finance reform in preventing parties from buying political influence. This important volume shows that market organization has its virtues, but also its drawbacks. Just as regulation can be over-applied, so too can market principles. The Limits of Market Organization encourages readers to think more discriminately about the march toward privatization, and to remember the importance of public institutions.
What Money Can T Buy
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Author : Michael J. Sandel
language : en
Publisher: Farrar, Straus and Giroux
Release Date : 2012-04-24
What Money Can T Buy written by Michael J. Sandel and has been published by Farrar, Straus and Giroux this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-24 with Philosophy categories.
Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay? In What Money Can't Buy, Michael J. Sandel takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets? In recent decades, market values have crowded out nonmarket norms in almost every aspect of life—medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, Sandel argues, we have drifted from having a market economy to being a market society. Is this where we want to be?In his New York Times bestseller Justice, Sandel showed himself to be a master at illuminating, with clarity and verve, the hard moral questions we confront in our everyday lives. Now, in What Money Can't Buy, he provokes an essential discussion that we, in our market-driven age, need to have: What is the proper role of markets in a democratic society—and how can we protect the moral and civic goods that markets don't honor and that money can't buy?
The State Of Economics The State Of The World
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Author : Kaushik Basu
language : en
Publisher: MIT Press
Release Date : 2020-01-07
The State Of Economics The State Of The World written by Kaushik Basu and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-07 with Business & Economics categories.
Leading economists address the ongoing challenges to economics in theory and practice in a time of political and economic crises. More than a decade of financial crises, sovereign debt problems, political conflict, and rising xenophobia and protectionism has left the global economy unsettled and the ability of economics as a discipline to account for episodes of volatility uncertain. In this book, leading economists consider the state of their discipline in a world of ongoing economic and political crises. The book begins with three sweeping essays by Nobel laureates Kenneth Arrow (in one of his last published works), Amartya Sen, and Joseph Stiglitz that offer a summary of the theoretical foundations of modern economics—the twin pillars of general equilibrium theory and welfare economics. Contributors then turn to macroeconomic stabilization and growth and, finally, new areas of research that depart from traditional theory, methodology, and concerns: climate change, behavioral economics, and evolutionary game theory. The 2019 Nobel Prize laureates, Abhijit Banerjee, Esther Duflo, and Michael Kremer, contribute a paper on the use of randomized control trials indevelopment economics. Contributors Philippe Aghion, Ingela Alger, Kenneth Arrow, Abhijit Banerjee, Kaushik Basu, Lawrence Blume, Guillermo Calvo, Francesco Caselli, Asli Demirgüç-Kunt, Shantayanan Devarajan, Esther Duflo, Samuel Fankhauser, James Foster, Varun Gauri, Xavier Gine, Gäel Giraud, Gita Gopinath, Robert Hockett, Karla Hoff, Ravi Kanbur, Aart Kraay, Michael Kremer, David McKenzie, Célestin Monga, Maurice Obstfeld, Hamid Rashid, Martin Ravallion, Amartya Sen, Luis Servén, Hyun Song Shin, Nicholas Stern, Joseph Stiglitz, Cass Sunstein, Michael Toman, Jörgen Weibull