Two Essays On Market Behavior
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| Author | : Reinhard Selten (Economist, Germany) |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 924 |
| Release | : 1999-03-24 |
| Genre | : |
| ISBN | : 9781781008294 |
'These two volumes constitute an impressive collection of selected path-breaking works of Professor Selten. . . . Edward Elgar Publications deserve merit for bringing out most frequently-cited and prominent articles of Professor Selten in a conveniently available package.' - K. Ravikumar, Journal of Scientific and Industrial Research In 1994, the Nobel Prize was awarded to Reinhard Selten, John Nash and John Harsanyi, for pioneering analysis in game theory. Selten was the first to refine the Nash equilibrium concept of non-cooperative games for analysing dynamic strategic interaction and to apply these concepts to analyses of oligopoly.
| Author | : Ward R. Kangas |
| Publisher | : Universal-Publishers |
| Total Pages | : 144 |
| Release | : 1997-10 |
| Genre | : Business & Economics |
| ISBN | : 1581120044 |
Based on data on publicly traded insurance firms, the first essay examines questions about the effect of large catastrophic events on insurance firms. Rather than looking at a single event, thirty catastrophic events were aggregated into quintiles and the cumulative abnormal returns around these events were found to be significantly positive over a 25 day trading window. There is no significant evidence that post-catastrophic stock returns are correlated to the magnitude of the catastrophe. The second essay analyzes the effect of a large land grant university, the University of Illinois, on the State Treasury of Illinois. If the State Treasury were acting as its own agent trying to maximize revenues, would it choose higher education as an investment versus other alternative investments. While it is true the State makes large expenditures for the operations of the University, it is also true that individuals receiving degrees on average receive higher incomes. Taxes or higher incomes offset the cost of operating the University. The study is broken out by the level of student: undergraduate, masters, doctorate, medical professional, and by function of the University. It was found that all levels of education have a positive return not only for the individual, but also for the State Treasury. This is in excess of any non-pecuniary benefits to the State of having a better educated population, or the local taxation effects on the county or city where the campus is located. These returns are found to be higher than other types of investments.
| Author | : American Bar Association. House of Delegates |
| Publisher | : American Bar Association |
| Total Pages | : 216 |
| Release | : 2007 |
| Genre | : Law |
| ISBN | : 9781590318737 |
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
| Author | : Robert Bork |
| Publisher | : |
| Total Pages | : 536 |
| Release | : 2021-02-22 |
| Genre | : |
| ISBN | : 9781736089712 |
The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
| Author | : Morris B. Holbrook |
| Publisher | : SAGE |
| Total Pages | : 433 |
| Release | : 1995-06-09 |
| Genre | : Business & Economics |
| ISBN | : 0803972970 |
"Once again, Morris B. Holbrook has combined insightful commentary on the field of consumer behavior with a readable and enjoyable writing style. A must read for anyone interested in the latest thinking in the field." Ron Hill, Professor and Chair of Marketing, Villanova University "A delightfully idiosyncratic history of consumer research. What enthralled readers will get from his stylish exposition is a socio-psychocultural description of the consumer through the ages, along with a description of attempts to understand the consumer. Scholarly yet readable, Holbrook's history is a classic study of consumerism too. Editor's Choice." --Business Today In recent years, consumer research has emerged as an academic specialty of growing concern to marketing scholars and of increased importance on today's university campuses. Courses on consumer behavior--taught in virtually every academic program of business or management--draw heavily on work by consumer researchers. Despite this wide and growing recognition as an emergent area of study, no book appears to exist on the history, nature, and types of consumer research or on the variegated and often hotly debated issues that surround this field of inquiry. Consumer Research fills this gap by providing an account of the recent historical developments in consumer research and by showing how the evolution of this discipline has affected the research. The author offers a personal and subjective glance at how various changes in the field have come about and how they have shaped studies of consumption. Marketing scholars, graduate students, and upper-level undergraduates concentrating in marketing will find Consumer Research irresistible reading.
| Author | : R. F. Ellen |
| Publisher | : Berghahn Books |
| Total Pages | : 260 |
| Release | : 2006 |
| Genre | : Literary Collections |
| ISBN | : 9781845450175 |
Classification, as an object of recent anthropological scrutiny came to prominence during the 1960s, exemplified in the British (constructionist) tradition by the writings of Mary Douglas, and in the American ethno-semantics (cognitive) tradition by the likes of Harold Conklin and Brent Berlin. At the time, these approaches seemed by turns to contradict each other, or even to exist in parallel universes. However, over the last 30 years we have witnessed both a renewed interest in classification studies as well as a cross-fertilization of these once antagonistic approaches. These essays by one of leading scholars in this field bring together a body of influential and inter-linked work which attempts to bridge the divide between cultural and cognitive studies of classification, and which develops a more embedded and processual approach. In particular, the essays focus on people's categorization of natural kinds as a means through which to obtain an understanding of how classifying behavior in general works, engaging with the ideas of both anthropologists and psychologists. The theoretical background is set out in an entirely new and substantial introduction, which also provides a comprehensive and systematic review of developments in cognitive and social anthropology since 1960 as these have impacted on classification studies. In short, it constitutes a useful and approachable introduction to its subject.
| Author | : Robert Epstein |
| Publisher | : Praeger |
| Total Pages | : 388 |
| Release | : 1996-01-30 |
| Genre | : Psychology |
| ISBN | : |
This diverse set of essays traces Epstein's experimental and theoretical work over a 15 year period. Four of the essays were coauthored by the eminent psychologist B.F. Skinner. The book demonstrates how the scientific study of behavior can increase our understanding and effectiveness in many domains: creativity and innovation, parenting, artificial intelligence, self-improvement, and even world peace. Reviewers have praised the volume as an impressive effort by one of America's most notable psychologists. Epstein's goals in writing this book were (a) to present some relatively interesting papers that can stand alone and (b) to organize and edit them so that sections have some integrity and so that the overall volume paints a fairly consistent picture of his evolving views on cognition, creativity, and behavior. Parts I and II focus on generativity research and theory and on some Columban (pigeon) simulations of human behavior, and Part III includes some related laboratory studies. Part IV is concerned with efforts to create a comprehensive science of behavior, and Part V includes essays about Skinner, one of the principle architects of behaviorism. Part VI includes forays into artifical intelligence, child rearing, categorization research, and other topics, and Part VII takes the volume to some uncertain reflections on growing older, and to a modest proposal for a day of world peace.
| Author | : James Eric Gunderson |
| Publisher | : |
| Total Pages | : 336 |
| Release | : 2004 |
| Genre | : |
| ISBN | : |
| Author | : Richard H. Thaler |
| Publisher | : W. W. Norton & Company |
| Total Pages | : 502 |
| Release | : 2015-05-11 |
| Genre | : Business & Economics |
| ISBN | : 0393246779 |
Winner of the Nobel Prize in Economics Get ready to change the way you think about economics. Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world. Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments. Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber. Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining. Shortlisted for the Financial Times & McKinsey Business Book of the Year Award
| Author | : Mark William Jenkins |
| Publisher | : Stanford University |
| Total Pages | : 135 |
| Release | : 2009 |
| Genre | : |
| ISBN | : |
This dissertation studies the organization of consumer credit markets using a rich and novel dataset from a large subprime auto lender. Its primary goal is to develop empirical methods for analyzing markets with asymmetric information and to use these methods to better understand the behavior of subprime borrowers and lenders. The first chapter quantifies the importance of adverse selection and moral hazard in the subprime auto loan market and shows how different loan contract terms serve to mitigate these distinct information problems. The second chapter examines the impact of centralized credit scoring on lending outcomes, including the distribution of performance across dealerships within the firm. The third chapter studies borrower repayment behavior and quantifies the impact of ex post moral hazard on interest rates and the costs of default. Collectively, the three chapters provide a better understanding of the functioning of markets for subprime credit in the U.S. They also provide unique empirical evidence on the importance of asymmetric information and the value of screening, monitoring, and contract design in consumer credit markets in general.
