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.
I have been pleased with the favourable reception of the first edition of this book and I am grateful to have the opportunity to prepare this second edition. In this revised and enlarged edition I corrected some misprints and errors that occurred in the first edition (fortunately I didn't find too many) and I added a large number of notes that give the reader an impression of what kind of results have been obtained since the first edition was printed and that give an indication of the direction the subject is taking. Many of the notes discuss (or refer to papers discussing) applications of the refinements that are considered. Of course, it is the quantity and the quality of the insights and the applications that lend the refinements their validity. Although the guide to the applications is far from complete, the notes certainly allow the reader to form a good judgement of which refinements have really yielded new insights. Hence, as in the first edition, I will refrain from speculating on which refinements of Nash equilibria will survive in the long run. To defend this position let me also cite Binmore [1990] who compares writing about refinements to the Herculean task of defeating the nine-headed Hydra which grew too heads for each that was struck off. It is a pleasure to have the opportunity to thank my secretary, Marjoleine de Wit, who skilfully and, as always, cheerfully typed the manuscript and did the proofreading.
Traditionally resources for R and D projects are allocated via planning and budgeting procedures, evaluation methods and hierarchical decision-committees. This book presents resource allocation via internal markets as an alternative to such hierarchical decision procedures. Internal R and D markets can help to overcome the weaknesses of traditional hierarchical structures, since they are characterised by short communication and decision procedures and thus contribute to the reduction of information asymmetries.
Protein synthesis is a fundamental aspect of gene expression across kingdoms. The regulation of translation is important for many biological processes including cell fate determination, development, and growth and is especially crucial to maintain cellular homeostasis during cellular stress and virus infection. Misregulation of protein translation can contribute to diseases such as diabetes, cancer, and neurodegenerative diseases. In this chapter, we highlight the basic understanding of eukaryotic translation and the major regulations that control biological events. We focus on signaling pathways that regulate overall protein synthesis and also mechanisms that control translation of specific mRNAs such as cis-acting elements within the 5' and 3 untranslated regions (UTR). Understanding these mechanisms provide insights into the fundamental gene regulations that may provide new targets for combating disease and virus infections.
An essential guide for everyone who provides care for a person with Alzheimer's disease or other dementias Practical. Easy to read. Comprehensive. Encouraging. Accurate. All of these words describe this indispensable book that belongs in the hands of all family members and other caretakers of people who have been diagnosed with Alzheimer's disease or other dementias. Dr. Eric Pfeiffer, a physician who has devoted thirty years to patients suffering from all forms of dementia, here distills the wisdom of those years for the benefit of caregivers confronting some of life's most challenging days. Dr. Pfeiffer's genuine compassion and wise advice are certain not only to reduce caregiver stress but also to improve the patient's quality of life. In these pages are specific tips for all stages of caregiving, from the initial realization of the problem through mild, moderate, and severe stages of dementia, and even beyond, when a caregiver begins to resume a full life after the patient's death. Dr. Pfeiffer identifies specific problems and provides practical solutions. He explains the importance of support groups and many other means of dealing with stressful days. For experienced caregivers and those new to the challenges, this book will be a profoundly useful guide to coping successfully.
A leading innovation scholar explains the growing phenomenon and impact of free innovation, in which innovations developed by consumers and given away “for free.” In this book, Eric von Hippel, author of the influential Democratizing Innovation, integrates new theory and research findings into the framework of a “free innovation paradigm.” Free innovation, as he defines it, involves innovations developed by consumers who are self-rewarded for their efforts, and who give their designs away “for free.” It is an inherently simple grassroots innovation process, unencumbered by compensated transactions and intellectual property rights. Free innovation is already widespread in national economies and is steadily increasing in both scale and scope. Today, tens of millions of consumers are collectively spending tens of billions of dollars annually on innovation development. However, because free innovations are developed during consumers' unpaid, discretionary time and are given away rather than sold, their collective impact and value have until very recently been hidden from view. This has caused researchers, governments, and firms to focus too much on the Schumpeterian idea of innovation as a producer-dominated activity. Free innovation has both advantages and drawbacks. Because free innovators are self-rewarded by such factors as personal utility, learning, and fun, they often pioneer new areas before producers see commercial potential. At the same time, because they give away their innovations, free innovators generally have very little incentive to invest in diffusing what they create, which reduces the social value of their efforts. The best solution, von Hippel and his colleagues argue, is a division of labor between free innovators and producers, enabling each to do what they do best. The result will be both increased producer profits and increased social welfare—a gain for all.
This textbook presents 122 exercises on industrial organization with detailed answer keys. While most textbooks on industrial organization focus on theory and empirical findings, this textbook offers practical examples and exercises helping predict firm behaviour in different industries. The book emphasizes the game-theoretic tools used in each type of exercise, so students can systematically apply them to other markets, forms of competition, or information environments where firms, consumers, and regulating agencies interact. The book begins with examples that analyse different models of firm behavior and interaction; starting with monopoly and moving through the Cournot model of simultaneous quantity competition, the Bertrand model simultaneous price competition, and sequential competition. The following chapters apply game-theoretic tools to situations of increasing complexity: regulation; R&D incentives; mergers and collusion; bundling incentives; incomplete information, signalling, and competition; networks and switching costs. In addition to providing algebraic simplifications, some chapters also offer the unique feature of worked exercises based on published journal articles by leading scholars in the field. Finally, exercises are ranked according to their difficulty, with a letter (A-C) next to the exercise number, which allows students to pace their studies and instructors to structure their classes accordingly. Providing a rigorous, yet practical introduction to the field of industrial organization, this textbook is appropriate for advanced undergraduate and graduate students in economics and finance.
The first book devoted entirely to B2B social marketing B2B markets are fundamentally different from consumer markets. Decisions are made on value, not impulse. Buying cycles are complex, often with many stakeholders involved. Relationships and support are critical. Bet-the-business decisions demand discipline, knowledge, and lots of information. This hands-on guide covers topics unique to this segment, including cost justification, prospecting and lead generation, matching tools to the sales funnel, building, B2B search engine optimization, social media monitoring, social media policy development, long-term client relationships, gaining stakeholder support, building a more transparent organization, and what's coming next. Features plentiful examples, case studies, and best practices Focuses on the channels that are most effective for B2B marketers Builds on the authors' more than 30 years of combined experience in the new media/social media space, as well as two previous successful books Leverage the vast business-to-business potential of Facebook, LinkedIn, Twitter, and many other social media platforms today with Social Marketing to the Business Customer!
The role of the U.S. Supreme Court in the aftermath of the 2000 presidential election raised questions in the minds of many Americans about the relationships between judges and political influence; the following years saw equally heated debates over the appropriate role of political ideology in selecting federal judges. Legal scholars have always debated these questions—asking, in effect, how much judicial systems operate on merit and principle and how much they are shaped by politics. The Japanese Constitution, like many others, requires that all judges be "independent in the exercise of their conscience and bound only by this Constitution and its laws." Consistent with this requirement, Japanese courts have long enjoyed a reputation for vigilant independence—an idea challenged only occasionally, and most often anecdotally. But in this book, J. Mark Ramseyer and Eric B. Rasmusen use the latest statistical techniques to examine whether that reputation always holds up to scrutiny—whether, and to what extent, the careers of lower court judges can be manipulated to political advantage. On the basis of careful econometric analysis of career data for hundreds of judges, Ramseyer and Rasmusen find that Japanese politics do influence judicial careers, discreetly and indirectly: judges who decide politically charged cases in ways favored by the ruling party enjoy better careers after their decisions than might otherwise be expected, while dissenting judges are more likely to find their careers hampered by assignments to less desirable positions. Ramseyer and Rasmusen's sophisticated yet accessible analysis has much to offer anyone interested in either judicial independence or the application of econometric techniques in the social sciences.
The Scooter Bible is an entertaining, colorful, and authoritative history of the little motorbikes that could. Beginning with the first motor scooter in 1902, Eric Dregni is your guide to everything from the postwar American scooter boom to the golden age of Italian and European scooters, the rise of Mod scooter culture in England . . . right up to modern electric scooters. Today, nostalgia for vintage Vespas, Piaggios, Cushmans, Lambrettas, and other top brands drive a new thirst for retro-inspired scooters in showrooms around the world. This revised and updated edition of The Scooter Bible brings the story up to date with the drive for zero emissions via electric vehicles. Throughout, author Eric Dregni offers you a wealth of imagery: historic black-and-white photos, evocative period advertisements, manufacturer photos, and more—over 500 images! Along the way, he also shows you scooter evolution, changing technologies, and scooter appearances in popular culture. And as the most comprehensive scooter book ever, The Scooter Bible also includes the world’s most exhaustive encyclopedia of scooter brands, from Puddlejumper to Piaggio, Ducati to Doodlebug, and Zündapp Bella to Genuine Stella. The Scooter Bible is all you need before kick-starting your scooter engine to life and praying for ever more speed. Indeed, scooters are mechanical marvels on two wheels. Streamlined spuds. Mutant oddballs of Jet Age styling gone berserk. Innovative inventions shoehorned like sardines into miniaturized monocoque bodies. Engineering and styling enigmas (the stranger the better). They are the weird and the wonderful. And they are all here in The Scooter Bible.
Offers advice on practical living during old age, and includes tips on where to retire, maintaining physical and mental health, protecting financial assets, and maintaining independence.
What is the nature of representation? Why do some legislators pursue their own policy agendas while others only vote according to the wishes of a majority in their district? In The Movers and the Shirkers, Eric M. Uslaner sheds new light on these intriguing questions. Uslaner demonstrates that current notions of representation are too narrow and that members of Congress pursue their own policy agendas as well as represent their constituents' interests. Uslaner explains that most senators do not choose between their ideal policies or their constituency preferences because voters usually elect public officials who are in tune with their beliefs. Moreover, because the constituency is a complex group, some of whom are more critical to a legislator than others, the legislator is able to form alliances with those who support his or her policy preferences. In short, the author argues that politics is both local and ideological. This work illuminates one of the central issues of representative democracy and will appeal to those who study or follow legislative politics as well as those interested in democratic theory.
We propose a theory to explain why, and under what circumstances, a politician gives up rent and delegates policy tasks to an independent agency. We apply this theory to monetary policy by extending a standard dynamic "New-Keynesian" stochastic general equilibrium model. This model gives a new theory of central bank independence that is unrelated to the standard inflation bias problem. We derive several new predictions and show that they are consistent with the data. Finally, we show that while instrument independence of the central bank is desirable, goal independence is not.
Vietnam still haunts the American conscience. Not only did nearly 58,000 Americans die there, but--by some estimates--1.5 million veterans returned with war-induced Post-Traumatic Stress Disorder (PTSD). This psychological syndrome, responsible for anxiety, depression, and a wide array of social pathologies, has never before been placed in historical context. Eric Dean does just that as he relates the psychological problems of veterans of the Vietnam War to the mental and readjustment problems experienced by veterans of the Civil War. Employing a multidisciplinary approach that merges military, medical, and social history, Dean draws on individual case analyses and quantitative methods to trace the reactions of Civil War veterans to combat and death. He seeks to determine whether exuberant parades in the North and sectional adulation in the South helped to wash away memories of violence for the Civil War veteran. His extensive study reveals that Civil War veterans experienced severe persistent psychological problems such as depression, anxiety, and flashbacks with resulting behaviors such as suicide, alcoholism, and domestic violence. By comparing Civil War and Vietnam veterans, Dean demonstrates that Vietnam vets did not suffer exceptionally in the number and degree of their psychiatric illnesses. The politics and culture of the times, Dean argues, were responsible for the claims of singularity for the suffering Vietnam veterans as well as for the development of the modern concept of PTSD. This remarkable and moving book uncovers a hidden chapter of Civil War history and gives new meaning to the Vietnam War.
First published in 1949 (this edition in 1968), this book is a dictionary of the past, exploring the language of the criminal and near-criminal worlds. It includes entries from Australia, New Zealand, Canada and South Africa, as well as from Britain and America and offers a fascinating and unique study of language. The book provides an invaluable insight into social history, with the British vocabulary dating back to the 16th century and the American to the late 18th century. Each entry comes complete with the approximate date of origin, the etymology for each word, and a note of the milieu in which the expression arose.
Kenneth J. Arrow's pathbreaking "impossibility theorem" was a watershed innovation 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 Eric Maskin and Amartya Sen explore the implications of Arrow's theorem. Sen considers its ongoing utility, exploring the theorem's value and limitations in relation to recent research on social reasoning, and Maskin discusses how to design a voting rule that gets us closer to the ideal—given the impossibility of achieving the ideal. The volume also contains a contextual introduction by social choice scholar Prasanta K. Pattanaik and commentaries from Joseph E. Stiglitz and Kenneth J. Arrow himself, as well as essays by Maskin, Dasgupta, and Sen outlining the mathematical proof and framework behind their assertions.
The study provides an overview of the Norwegian national innovation system with a special focus on SMEs and their use of the intellectual property system. The study provides valuable empirical data on patent and trademark applications by size, location and sector. The methodology and analysis used in the study and its conclusions and recommendations, while focusing on the Norwegian situation, will be of great interest to all those concerned with ensuring that SMEs are able to make the most effective use of the tools available to them through the intellectual property system.
This set reissues important selected works by Eric Partridge, covering the period from 1933 to 1968. Together, the books look at many and diverse aspects of language, focusing in particular on English. Included in the collection are a variety of insightful dictionaries and reference works that showcase some of Partridge’s best work. The books are creative, as well as practical, and will provide enjoyable reading for both scholars and the more general reader, who has an interest in language and linguistics.
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