This is a paperback edition of a major contribution to the field, first published in hard covers in 1977. The book outlines a general theory of rational behaviour consisting of individual decision theory, ethics, and game theory as its main branches. Decision theory deals with a rational pursuit of individual utility; ethics with a rational pursuit of the common interests of society; and game theory with an interaction of two or more rational individuals, each pursuing his own interests in a rational manner.
Is libertarianism a progressive doctrine, or a reactionary one? Does libertarianism promise to liberate the poor and the marginalized from the yoke of state oppression, or does talk of "equal liberty" obscure the ways in which libertarian doctrines serve the interests of the rich and powerful? Through an examination of the history of libertarianism, this book argues that the answer is (and always has been): both. In this book we explore the neglected 19th century roots of libertarianism to show that it emerged first as a radical and progressive doctrine. Libertarianism took a conservative turn in the 20th century primarily as a reaction against the rise of state socialism. Now, with international communism no longer a threat, libertarianism is in the midst of an identity crisis, with progressive and reactionary elements struggling to claim the doctrine as their own, most notably on issues of race. This book tells the history of libertarianism through an examination of six defining themes: private property, skepticism of authority, free markets, individualism, spontaneous order, and individual liberty. In doing so, it reveals that history to be longer, wider, and considerably more diverse than is commonly believed. It is a history full of internal tensions, idiosyncratic personalities, and surprising arguments. It is a history of the men (and sometimes women) who called themselves: The Individualists"--
This authoritative dictionary covers all aspects of economics including theory, policy, and applied micro and macroeconomics on a global scale. An essential book for professional economists as well as for students and teachers of economics, business, and finance.
The economics of search is a prominent component of economic theory, and it has a richness and elegance that underpins a host of practical applications. In this book Brian and John McCall present a comprehensive overview of the economic theory of search, from the classical model of job search formulated 40 years ago to the recent developments in eq
John Mills provides a critical survey of the way economics has developed. He argues that the main goal of economics ought to be to show how to achieve a combination of economic growth, full employment, low inflation, avoidance of extreme poverty and sustainability. That it has failed to do so is neither inevitable nor accidental. It has failed because of a combination of intellectual error and the effects of social and political pressure, which Mills claims could and should have been avoided.
Happiness and the law the two concepts seem to have little to do with one another. To some people, they may even seem diametrically opposed. Yet, one of the things that laws strive to do is improve the quality of people s lives. John Bronsteen and his coauthors draw on new research on happiness from psychology, economics, and neuroscience to understand the law s effects on peoplewhether they make them happy or unhappyand how good the law is at predicting these effects. Happiness research has shown that people can adapt to some things but not to others; that people often err in predicting what will make them happy; and that money affects most people s happiness less than is assumed. Using such insights, the authors consider the effects of legal policies and regulations, criminal punishments, and civil lawsuits on how people experience their lives. The results are exciting and often counterintuitive. The findings of hedonic psychology indicate, for example, a need to rethink our current understandings of imprisonment and monetary fines. Most broadly, the book proposes a comprehensive approach to human welfare to assess the good and bad consequences of laws and policies. This approach, well-being analysis, is far superior to the strictly economically based cost-benefit analyses which currently dominate how we evaluate public policy. The study of happiness is the next step in the evolution from traditional economic analysis of the law to a behavioral approach. "Happiness and the Law" will serve as the definitive, yet accessible, guide to understanding this new paradigm.
Palestinian Resistance: Organization of a Nationalist Movement presents the Palestinian conflict as a consequence of the emergence of Arab and Jewish nationalism in the 19th century. This book discusses the variables that intersect to produce Resistance politics. Organized into 11 chapters, this book begins with an overview of the increasing threat to international stability of Middle Eastern conflicts in terms of global impact and military destructiveness. This text then examines the emergence of Palestinian nationalism that is connected with the appearance and growth of the Palestinian Resistance Movement. Other chapters consider the more complex relationships that developed over time between the various guerilla groups and established Arab governments. This book discusses as well the importance of the ANM in providing an infrastructure of political and logistic support that extend throughout the Arab world. The final chapter deals with the concept of protracted social conflict. This book is a valuable resource for politicians, teachers, and students.
Over a distinguished academic career, the Canadian philosopher and scholar John Woods has written on a rich variety of topics central to contemporary philosophy. These include the history and philosophy of logic, deviant logics, inductive and abductive reasoning, informal reasoning, fallacy theory, the logic of fiction, epistemology, and abortion and euthanasia. Not only has Woods' work been significant in itself, it has also stimulated others working in these fields. Mistakes of Reason is a tribute to Woods and contains twenty-six new essays by leading Canadian and international philosophers. The essays are accompanied by commentaries by Woods himself, creating a unique dialogue between Woods and his colleagues. Editors Kent A. Peacock and Andrew D. Irvine have grouped the works under the themes of Reality, Knowledge, Logic and Language, Reasoning, and Values. The essays evaluate Woods' work and celebrate the generous contribution that he has made to Canada's intellectual development over the past forty years.
A groundbreaking examination of a central question in international relations: Do states act rationally? To understand world politics, you need to understand how states think. Are states rational? Much of international relations theory assumes that they are. But many scholars believe that political leaders rarely act rationally. The issue is crucial for both the study and practice of international politics, for only if states are rational can scholars and policymakers understand and predict their behavior. John J. Mearsheimer and Sebastian Rosato argue that rational decisions in international politics rest on credible theories about how the world works and emerge from deliberative decision‑making processes. Using these criteria, they conclude that most states are rational most of the time, even if they are not always successful. Mearsheimer and Rosato make the case for their position, examining whether past and present world leaders, including George W. Bush and Vladimir Putin, have acted rationally in the context of momentous historical events, including both world wars, the Cold War, and the post-Cold War era. By examining this fundamental concept in a novel and comprehensive manner, Mearsheimer and Rosato show how leaders think, and how to make policy for dealing with other states.
God and Morality evaluates the ethical theories of four principle philosophers, Aristotle, Duns Scotus, Kant, and R.M. Hare. Uses their thinking as the basis for telling the story of the history and development of ethical thought more broadly Focuses specifically on their writings on virtue, will, duty, and consequence Concentrates on the theistic beliefs to highlight continuity of philosophical thought
In this book, John P. Burkett presents microeconomics as an evolving science, interacting with mathematics, psychology, and other disciplines and offering solutions to a growing range of practical problems. The book shows how early contributors such as Xenophon, Ibn Khaldun, and David Hume posed the normative and positive questions central to microeconomics. It expounds constrained optimization techniques, as developed by economists and mathematicians from Daniel Bernoulli to Leonid Kantorovich, emphasizing their value in deriving norms of rational behavior and testable hypotheses about typical behavior. Applying these techniques, the book introduces partial equilibrium analysis of particular markets and general equilibrium analysis of market economies. The book both explains how laboratory and field experiments are used in testing economic hypotheses and provides materials for classroom experiments. It gives extensive and innovative coverage of recent findings in cognitive psychology and behavioral economics, which not only document behavior inconsistent with some traditional theories, but also advance positive theories with superior predictive power.
When John Nash won the Nobel prize in economics in 1994, many people were surprised to learn that he was alive and well. Since then, Sylvia Nasar's celebrated biography A Beautiful Mind, the basis of a new major motion picture, has revealed the man. The Essential John Nash reveals his work--in his own words. This book presents, for the first time, the full range of Nash's diverse contributions not only to game theory, for which he received the Nobel, but to pure mathematics--from Riemannian geometry and partial differential equations--in which he commands even greater acclaim among academics. Included are nine of Nash's most influential papers, most of them written over the decade beginning in 1949. From 1959 until his astonishing remission three decades later, the man behind the concepts "Nash equilibrium" and "Nash bargaining"--concepts that today pervade not only economics but nuclear strategy and contract talks in major league sports--had lived in the shadow of a condition diagnosed as paranoid schizophrenia. In the introduction to this book, Nasar recounts how Nash had, by the age of thirty, gone from being a wunderkind at Princeton and a rising mathematical star at MIT to the depths of mental illness. In his preface, Harold Kuhn offers personal insights on his longtime friend and colleague; and in introductions to several of Nash's papers, he provides scholarly context. In an afterword, Nash describes his current work, and he discusses an error in one of his papers. A photo essay chronicles Nash's career from his student days in Princeton to the present. Also included are Nash's Nobel citation and autobiography. The Essential John Nash makes it plain why one of Nash's colleagues termed his style of intellectual inquiry as "like lightning striking." All those inspired by Nash's dazzling ideas will welcome this unprecedented opportunity to trace these ideas back to the exceptional mind they came from.
Words That Bind presents a careful and nuanced treatment of constitutional interpretation and judicial review. By bringing constitutional theory and contemporary political philosophy to bear on each other, John Arthur illuminates these topics as no other recent author has.
Ends of Enlightenment explores three realms of eighteenth-century European innovation that remain active in the twenty-first century: the realist novel, philosophical thought, and the physical sciences, especially human anatomy. The European Enlightenment was a state of being, a personal stance, and an orientation to the world. Ways of probing experience and knowledge in the novel and in the visual arts were interleaved with methods of experimentation in science and philosophy. This book's fresh perspective considers the novel as an art but also as a force in thinking. The critical distance afforded by a view back across the centuries allows Bender to redefine such novelists as Defoe, Fielding, Goldsmith, Godwin, and Laclos by placing them along philosophers and scientists like Newton, Locke, and Hume but also alongside engravings by Hogarth and by anatomist William Hunter. His book probes the kinship among realism, hypothesis, and scientific fact, defining in the process the rhetorical basis of public communication during the Enlightenment.
John von Neumann was perhaps the most influential mathematician of the twentieth century. Not only did he contribute to almost all branches of mathematics, he created new fields and was a pioneering influence in the development of computer science. During and after World War II, he was a much sought-after technical advisor. He served as a member of the Scientific Advisory Committee at the Ballistic Research Laboratories, the Navy Bureau of Ordinance, and the Armed Forces Special Weapons Project. He was a consultant to the Los Alamos Scientific Laboratory and was appointed by U.S. President Dwight D. Eisenhower to the Atomic Energy Commission. He received the Albert Einstein Commemorative Award, the Enrico Fermi Award, and the Medal of Freedom. This collection of about 150 of von Neumann's letters to colleagues, friends, government officials, and others illustrates both his brilliance and his strong sense of responsibility. It is the first substantial collection of his letters, giving a rare inside glimpse of his thinking on mathematics, physics, computer science, science management, education, consulting, politics, and war. With an introductory chapter describing the many aspects of von Neumann's scientific, political, and social activities, this book makes great reading. Readers of quite diverse backgrounds will be fascinated by this first-hand look at one of the towering figures of twentieth century science. Also of interest and available from the AMS is John von Neumann: The Scientific Genius Who Pioneered the Modern Computer, Game Theory, Nuclear Deterrence, and Much More. Information for our distributors: Copublished with the London Mathematical Society beginning with volume 4. Members of the LMS may order directly from the AMS at the AMS member price. The LMS is registered with the Charity Commissioners.
Theories of explanation in the social sciences vacillate between holism and individualism. Wettersten contends that this has been a consequence of theories of rationality which assume that rationality requires coherent theories to be shown to be true. Rejecting these traditional assumptions about rationality Wettersten claims that the traditional explanations of rationality have placed unrealistic demands on both individuals and institutions. Analysing the theories of Weber and Popper, Wettersten shows that Popper made considerable progress in the theory of rationality, but ultimately stayed too close to the ideas of Hayek, he explains how this dilemma leads to difficulties in economics, anthropology, sociology, ethics and political theory, and constructs an alternative theory that rationality is critical problem-solving in institutional contexts. Wettersten contends that 'the critical consideration of theories followed by their improvement' dispenses with the need for justification and sees rationality as a social phenomena with an institutional basis. The main social advantages this view offers is that the degree of rationality individuals achieve may be increased by institutional reform without moralizing and that we can explain how institutions steer events insofar as we understand how they determine the problems which individuals seek to solve. It is argued that the central moral advantage of this view is that rationality is shown to be Spinozistic in the sense that it is natural and furthers morality and peace of mind.
Drawing on the resources of the world's premier news organization, it provides readers with a wealth of data about the United States and the world - in a readable and more easily accessible form than other fact finders.
When von Neumann's and Morgenstern's Theory of Games and Economic Behavior appeared in 1944, one thought that a complete theory of strategic social behavior had appeared out of nowhere. However, game theory has, to this very day, remained a fast-growing assemblage of models which have gradually been united in a new social theory - a theory that is far from being completed even after recent advances in game theory, as evidenced by the work of the three Nobel Prize winners, John F. Nash, John C. Harsanyi, and Reinhard Selten. Two of them, Harsanyi and Selten, have contributed important articles to the present volume. This book leaves no doubt that the game-theoretical models are on the right track to becoming a respectable new theory, just like the great theories of the twentieth century originated from formerly separate models which merged in the course of decades. For social scientists, the age of great discover ies is not over. The recent advances of today's game theory surpass by far the results of traditional game theory. For example, modem game theory has a new empirical and social foundation, namely, societal experiences; this has changed its methods, its "rationality. " Morgenstern (I worked together with him for four years) dreamed of an encompassing theory of social behavior. With the inclusion of the concept of evolution in mathematical form, this dream will become true. Perhaps the new foundation will even lead to a new name, "conflict theory" instead of "game theory.
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