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Future Design
This book discusses imaginary future generations and how current decision-making will influence those future generations. Markets and democracies focus on the present and therefore tend to make us forget that we are living in the present, with ancestors preceding and descendants succeeding us. Markets are excellent devices to equate supply and demand in the short term, but not for allocating resources between current and future generations, since future generations do not exist yet. Democracy is also not “applicable” for future generations, since citizens vote for candidates who will serve members of their, i.e., the current, generation. In order to overcome these shortcomings, the authors discusses imaginary future generations and future ministries in the context of current decision-making in fields such as the environment, urban management, forestry, water management, and finance. The idea of imaginary future generations comes from the Native American Iroquois, who had strong norms that compelled them to incorporate the interests of people seven generations ahead when making decisions.
Experimental Business Research
Volumes II and III of Experimental Business Research include original papers that were presented at the Second Asian Conference on Experimental Business Research held at the Hong Kong University of Science and Technology (HKUST) on December 16-19, 2003. The conference was organized by the Center for Experimental Business Research (cEBR) at HKUST and was chaired by Professors Amnon Rapoport and Rami Zwick. Experimental Business Research adopts laboratory based experimental economics methods to study an array of business and policy issues spanning the entire business domain including accounting, economics, finance, information systems, marketing and management and policy. "Experimental economi...
A Philosophy of Need
Appeals to 'need' are everywhere. This seminal volume introduces the concept as a vital component in the business of living.
The Handbook of Experimental Economics
This book, which comprises eight chapters, presents a comprehensive critical survey of the results and methods of laboratory experiments in economics. The first chapter provides an introduction to experimental economics as a whole, with the remaining chapters providing surveys by leading practitioners in areas of economics that have seen a concentration of experiments: public goods, coordination problems, bargaining, industrial organization, asset markets, auctions, and individual decision making. The work aims both to help specialists set an agenda for future research and to provide nonspecialists with a critical review of work completed to date. Its focus is on elucidating the role of expe...
Markets, Games, and Organizations
We are pleased to help celebrate Roy Radner's 75th birthday, by issuing in one volume the papers that originally appeared in his honor in two special issues of Review of Economic Design (Vol. 6/2 and 6/3-4, 2001). Through his truly original ideas and lucid writing, Roy has influenced and guided the theory community for decades. Many colleagues and students have found their own work shaped and improved by Roy's wide-ranging curiosity, his encouragement, and his keen insights. In soliciting contributions to the Review of Economic Design Radner issues, we decided to approach his former students at the University of California, Berke ley, his former post-doctoral fellows at Bell Laboratories, and his published co authors. We express our sincere apology to any potential authors who fit these categories and whom we may have unintentionally failed to approach. Our job as editors of the Review of Economic Design Radner issues turned out to be easy, thanks to the enthusiastic response we received from authors and the quality of their submissions.
Phenomenology and Future Generations
In the face of widespread environmental and social destabilization and growing uncertainty about the future of humanity, this collection of essays brings the philosophical tradition of phenomenology to the question of relations between generations to examine our ethical, political, and environmental obligations to future people. Emphasizing phenomenology's rich reflections on the role of time in the constitution of the social-historical world and its relation to the environment, the essays interweave the central themes of mortality, natality, generativity, and amor mundi to build vital bridges between new developments in both eco- and critical phenomenology and important work in intergenerational ethics. Together, the chapters reevaluate the traditional scope and foundational concepts of environmental ethics and social justice, paving the way for a revised understanding of intergenerational responsibilities, culminating in the key insight that future people are of us. The result is an invaluable conceptual toolkit for phenomenologists, ethicists, theorists, students, and activists concerned with environmental justice and climate ethics.
Understanding Institutional Diversity
The analysis of how institutions are formed, how they operate and change, and how they influence behavior in society has become a major subject of inquiry in politics, sociology, and economics. A leader in applying game theory to the understanding of institutional analysis, Elinor Ostrom provides in this book a coherent method for undertaking the analysis of diverse economic, political, and social institutions. Understanding Institutional Diversity explains the Institutional Analysis and Development (IAD) framework, which enables a scholar to choose the most relevant level of interaction for a particular question. This framework examines the arena within which interactions occur, the rules e...
Oligopoly, Auctions and Market Quality
This book provides an economic analysis of various aspects of ‘market quality’, a new concept which emerged in the 21st century, using the tools of ‘oligopoly theory’ and ‘auction theory’ that evolved over the 19th and 20th centuries. In the economics literature the link between the theories of oligopoly and auctions with market quality remains largely unexplored. This book attempts to forge such a link as it brings together relevant theoretical results in the literature on these topics under a unified framework. While the book is mainly theoretical in nature, it also discusses some specific issues related to the problems of market quality in emerging economies like India. Illust...
Behavioral Decision Theory
This book is the second edition of Behavioral Decision Theory, published in 2014. The main approach and structure of this book have been retained in the new edition. However, this second edition provides a fresh overview of the idea of behavioral decision theory and related research findings such as theoretical and empirical discoveries of preference formation, time discounting, social interaction, and social decision making. The book covers a wide range from classical to relatively recent major studies concerning behavioral decision theory, which, in brief, is a general term for descriptive theories to explain the psychological knowledge related to people’s decision-making behavior. It is...
Consistency, Choice, and Rationality
In Consistency, Choice, and Rationality, economic theorists Walter Bossert and Kotaro Suzumura present a thorough mathematical treatment of Suzumura consistency, an alternative to established coherence properties such as transitivity, quasi-transitivity, or acyclicity. Applications in individual and social choice theory, fields important not only to economics but also to philosophy and political science, are discussed. Specifically, the authors explore topics such as rational choice and revealed preference theory, and collective decision making in an atemporal framework as well as in an intergenerational setting.
