Richard J. Zeckhauser's Books

The Patron's Payoff

Conspicuous Commissions in Italian Renaissance Art

By: Jonathan K. Nelson,Richard J. Zeckhauser

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The Patron's Payoff

Conspicuous Commissions in Italian Renaissance Art

By: Jonathan K. Nelson,Richard J. Zeckhauser

An analysis of Italian Renaissance art from the perspective of the patrons who made 'conspicuous commissions', this text builds on three concepts from the economics of information - signaling, signposting, and stretching - to develop a systematic methodology for assessing the meaning of patronage.

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255

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Princeton University Press

Published Date

ISBN 10

0691161941

ISBN 13

9780691161945

Collaborative Governance

Private Roles for Public Goals in Turbulent Times

By: John D. Donahue,Richard J. Zeckhauser

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Collaborative Governance

Private Roles for Public Goals in Turbulent Times

By: John D. Donahue,Richard J. Zeckhauser

How government can forge dynamic public-private partnerships All too often government lacks the skill, the will, and the wallet to meet its missions. Schools fall short of the mark while roads and bridges fall into disrepair. Health care costs too much and delivers too little. Budgets bleed red ink as the cost of services citizens want outstrips the taxes they are willing to pay. Collaborative Governance is the first book to offer solutions by demonstrating how government at every level can engage the private sector to overcome seemingly insurmountable problems and achieve public goals more effectively. John Donahue and Richard Zeckhauser show how the public sector can harness private expertise to bolster productivity, capture information, and augment resources. The authors explain how private engagement in public missions—rightly structured and skillfully managed—is not so much an alternative to government as the way smart government ought to operate. The key is to carefully and strategically grant discretion to private entities, whether for-profit or nonprofit, in ways that simultaneously motivate and empower them to create public value. Drawing on a host of real-world examples-including charter schools, job training, and the resurrection of New York's Central Park—they show how, when, and why collaboration works, and also under what circumstances it doesn't. Collaborative Governance reveals how the collaborative approach can be used to tap the resourcefulness and entrepreneurship of the private sector, and improvise fresh, flexible solutions to today's most pressing public challenges.

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320

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Princeton University Press

Published Date

ISBN 10

0691156301

ISBN 13

9780691156309

Demographic Dimensions of the New Republic

American Interregional Migration, Vital Statistics and Manumissions 1800-1860

By: Peter D. McClelland,Richard J. Zeckhauser

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Demographic Dimensions of the New Republic

American Interregional Migration, Vital Statistics and Manumissions 1800-1860

By: Peter D. McClelland,Richard J. Zeckhauser

A comprehensive analysis of American vital statistics and migration patterns up to the Civil War.

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Page Count

244

Publisher

Cambridge University Press

Published Date

ISBN 10

0521522366

ISBN 13

9780521522366

Saving the Mail

How to Solve the Problems of the U.S. Postal Service

By: Rick Geddes

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Saving the Mail

How to Solve the Problems of the U.S. Postal Service

By: Rick Geddes

A comprehensive overview of the U.S. Postal Service, its organization, and its performance since its creation by the 1970 Postal Reorganization Act.

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184

Publisher

American Enterprise Institute

Published Date

ISBN 10

0844741809

ISBN 13

9780844741802

Going Broke by Degree

Why College Costs Too Much

By: Richard K. Vedder

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Going Broke by Degree

Why College Costs Too Much

By: Richard K. Vedder

Economist Richard Vedder examines the causes of the college tuition crisis and explores ways to reverse this alarming trend.

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296

Publisher

American Enterprise Institute

Published Date

ISBN 10

0844741973

ISBN 13

9780844741970

The Dragon and the Eagle

By: Karen Eggleston,John D. Donahue,Richard J. Zeckhauser

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The Dragon and the Eagle

By: Karen Eggleston,John D. Donahue,Richard J. Zeckhauser

This comparative study allows decision-makers to understand and use public-private collaboration to achieve governance goals.

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241

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Cambridge University Press

Published Date

ISBN 10

1108837077

ISBN 13

9781108837071

Risks in Renaissance Art

Production, Purchase, and Reception

By: Jonathan K. Nelson,Richard J. Zeckhauser

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Risks in Renaissance Art

Production, Purchase, and Reception

By: Jonathan K. Nelson,Richard J. Zeckhauser

This Element represents the first systematic study of the risks borne by those who produced, commissioned, and purchased art, across Renaissance Europe. It employs a new methodology, built around concepts from risk analysis and decision theory. The Element classifies scores of documented examples of losses into 'production risks', which arise from the conception of a work of art until its final placement, and 'reception risks', when a patron, a buyer, or viewer finds a work displeasing, inappropriate, or offensive. Significant risks must be tamed before players undertake transactions. The Element discusses risk-taming mechanisms operating society-wide: extensive communication flows, social capital, and trust, and the measures individual participants took to reduce the likelihood and consequences of losses. Those mechanisms were employed in both the patronage-based system and the modern open markets, which predominated respectively in Southern and Northern Europe.

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202

Publisher

Cambridge University Press

Published Date

ISBN 10

1009402501

ISBN 13

9781009402507

The Road to Renewal

Private Investment in U.S. Transportation Infrastructure

By: R. Richard Geddes

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The Road to Renewal

Private Investment in U.S. Transportation Infrastructure

By: R. Richard Geddes

In The Road to Renewal: Private Investment in U.S. Transportation Infrastructure, R. Richard Geddes surveys the current state of the American transportation system and finds that, like the roads themselves, the existing policy approach is in desperate need of repair. Drawing on the basic economic principles behind supply, demand, competition, and incentives, Geddes argues that a shift toward increased use of public-private partnerships (PPPs)--contractual agreements between public agencies and private parties that allow private participation in the design, construction, operation, and delivery of transportation facilities--could significantly improve the quality of America's transportation infrastructure. By learning to see themselves as customers and investors--rather than mere users--of roads and highways, Americans should expect to receive a reasonable return on their investment: thorough, effective maintenance of America's transportation infrastructure. The Road to Renewal shows how incorporating increased private participation can halt the deterioration of America's transportation system and become the foundation for a safer, more efficient transportation future."--P. [4] of cover.

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205

Publisher

Government Institutes

Published Date

ISBN 10

0844743461

ISBN 13

9780844743462

The Declining Work and Welfare of People with Disabilities

What Went Wrong and a Strategy for Change

By: Richard V. Burkhauser,Mary Daly

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The Declining Work and Welfare of People with Disabilities

What Went Wrong and a Strategy for Change

By: Richard V. Burkhauser,Mary Daly

The U.S. disability insurance system is an important part of the federal social safety net; it provides financial protection to working-age Americans who have illnesses, injuries, or conditions that render them unable to work as they did before becoming disabled or that prevent them from adjusting to other work. An examination of the workings of the system, however, raises deep concerns about its financial stability and effectiveness. Disability rolls are rising, household income for the disabled is stagnant, and employment rates among people with disabilities are at an all-time low. Mary Daly and Richard Burkhauser contend that these outcomes are not inevitable; rather, they are reflections of the incentives built into public policies targeted at those with disabilities, namely the SSDI, SSI-disabled adults, and SSI-disabled children benefit programs. The Declining Work and Welfare of People with Disabilities considers how policies could be changed to improve the well-being of people with disabilities and to control the unsustainable growth in program costs.

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Page Count

170

Publisher

AEI Press

Published Date

ISBN 10

0844772178

ISBN 13

9780844772172

The Productivity of Health Care and Pharmaceuticals

An International Comparison

By: H. E. Frech,Richard D. Miller (Jr.)

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The Productivity of Health Care and Pharmaceuticals

An International Comparison

By: H. E. Frech,Richard D. Miller (Jr.)

This volume contradicts the commonly-held belief that, among rich countries, the marginal return from pharmaceutical consumption is negligible.

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116

Publisher

American Enterprise Institute

Published Date

ISBN 10

0844771244

ISBN 13

9780844771243

The Sugar Masters

Planters and Slaves in Louisiana's Cane World, 1820--1860

By: Richard Follett

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The Sugar Masters

Planters and Slaves in Louisiana's Cane World, 1820--1860

By: Richard Follett

Focusing on the master-slave relationship in Louisiana's antebellum sugarcane country, The Sugar Masters explores how a modern, capitalist mind-set among planters meshed with old-style paternalistic attitudes to create one of the South's most insidiously oppressive labor systems. As author Richard Follett vividly demonstrates, the agricultural paradise of Louisiana's thriving sugarcane fields came at an unconscionable cost to slaves. Thanks to technological and business innovations, sugar planters stood as models of capitalist entrepreneurship by midcentury. But above all, labor management was the secret to their impressive success. Follett explains how in exchange for increased productivity and efficiency they offered their slaves a range of incentives, such as greater autonomy, improved accommodations, and even financial remuneration. These material gains, however, were only short term. According to Follett, many of Louisiana's sugar elite presented their incentives with a "facade of paternal reciprocity" that seemingly bound the slaves' interests to the apparent goodwill of the masters, but in fact, the owners sought to control every aspect of the slaves's lives, from reproduction to discretionary income. Slaves responded to this display of paternalism by trying to enhance their rights under bondage, but the constant bargaining process invariably led to compromises on their part, and the grueling production pace never relented. The only respite from their masters' demands lay in fashioning their own society, including outlets for religion, leisure, and trade. Until recently, scholars have viewed planters as either paternalistic lords who eschewed marketplace values or as entrepreneurs driven to business success. Follett offers a new view of the sugar masters as embracing both the capitalist market and a social ideology based on hierarchy, honor, and paternalism. His stunning synthesis of empirical research, demographics study, and social and cultural history sets a new standard for this subject.

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304

Publisher

LSU Press

Published Date

ISBN 10

0807132470

ISBN 13

9780807132470

Radical Business Ethics

By: Richard L. Lippke

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Radical Business Ethics

By: Richard L. Lippke

Arguing against most scholars of business ethics who have articulated a set of moral principles and applied them to problems faced by business people, Richard Lippke steers away from offering moral directives. In Radical Business Ethics, he develops a more comprehensive perspective on business issues that is tied to larger questions of social justice. Analyzing a select group of timely issues such as advertising, employee privacy, and insider trading in the context of debates about the nature of the just society, Lippke argues that the most plausible theory of justice is one whose implications are highly critical of many features of advanced capitalist societies. Radical Business Ethics will be an eye-opening book for students and scholars of ethics, and anyone interested in the role business plays in a just society.

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224

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Rowman & Littlefield

Published Date

ISBN 10

0847680703

ISBN 13

9780847680702

Targeting in Social Programs

Avoiding Bad Bets, Removing Bad Apples

By: Peter H. Schuck,Richard J. Zeckhauser

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Targeting in Social Programs

Avoiding Bad Bets, Removing Bad Apples

By: Peter H. Schuck,Richard J. Zeckhauser

Should chronically disruptive students be allowed to remain in public schools? Should nonagenarians receive costly medical care at taxpayer expense? Who should be first in line for kidney transplants—the relatively healthy or the severely ill? In T argeting in Social Programs , Peter H. Schuck and Richard J. Zeckhauser provide a rigorous framework for analyzing these and other difficult choices. Many government policies seek to help unfortunate, often low-income individuals—in other words, "bad draws." These efforts are frequently undermined by poor targeting, however. In particular, when two groups of bad draws—"bad bets" and "bad apples"—are included in social welfare programs, bad policies are likely to result. Many politicians and policymakers prefer to sweep this problem under the rug. But the costs of this silence are high. Allocating resources to bad bets and bad apples does more than waste money—it also makes it harder to achieve substantive goals, such as the creation of safe and effective schools. And perhaps most important, it erodes support for public programs on which many good bets and good apples rely. By training a spotlight on these issues, Schuck and Zeckhauser take a first step toward much-needed reforms. They dissect the challenges involved in defining bad bets and bad apples and discuss the safeguards that any classification process must provide. They also examine three areas where bad apples and bad bets loom large—public schools, public housing, and medical care—and propose policy changes that could reduce the problems these two groups pose. This provocative book does not offer easy answers, but it raises questions that no one with an interest in policy effectiveness can afford to ignore. By turns incisive and probing, Bad Draws will generate vigorous debate.

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186

Publisher

Rowman & Littlefield

Published Date

ISBN 10

0815778791

ISBN 13

9780815778790

The Early Admissions Game

By: Christopher. Avery,Andrew. Fairbanks,Richard J. Zeckhauser

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The Early Admissions Game

By: Christopher. Avery,Andrew. Fairbanks,Richard J. Zeckhauser

Each year, hundreds of thousands of high school seniors compete in a game they'll play only once, whose rules they do not fully understand, yet whose consequences are enormous. The game is college admissions, and applying early to an elite school is one way to win. But the early admissions process is enigmatic and flawed. It can easily lead students toward hasty or misinformed decisions. This book--based on the careful examination of more than 500,000 college applications to fourteen elite colleges, and hundreds of interviews with students, counselors, and admissions officers--provides an extraordinarily thorough analysis of early admissions. In clear language it details the advantages and pitfalls of applying early as it provides a map for students and parents to navigate the process. Unlike college admissions guides, The Early Admissions Game reveals the realities of early applications, how they work and what effects they have. The authors frankly assess early applications. Applying early is not for everyone, but it will improve--sometimes double, even triple--the chances of being admitted to a prestigious college. An early decision program can greatly enhance a college's reputation by skewing statistics, such as selectivity, average SAT scores, or percentage of admitted applicants who matriculate. But these gains come at the expense of distorting applicants' decisions and providing disparate treatment of students who apply early and regular admissions. The system, in short, is unfair, and the authors make recommendations for improvement. The Early Admissions Game is sure to be the definitive work on the subject. It is must reading for admissions officers, guidance counselors, and high school seniors and their parents. Table of Contents: Introduction: Joining the Game 1. The History of Early Admissions 2. The State of the Game 3. Martian Blackjack: What Do Applicants Understand about Early Admissions? 4. The Innocents Abroad: The Admissions Voyage 5. The Truth about Early Applications 6. The Game Revealed: Strategies of Colleges, Counselors, and Applicants 7. Advice to Applicants Conclusion: The Essence of the Game and Some Possible Reforms Appendix A: Median SAT-1 Scores and Early Application Programs at Various Colleges Appendix B: Data Sources Appendix C: Interview Formats Acknowledgments Tables and Figures Index Reviews of this book: Applying to an elite college through an early-admissions program can improve students' chances of getting in by as much as 50 percent over their odds during the regular admissions cycle, a difference that is the equivalent of scoring 100 points higher on the SAT...Based on an analysis of admission data at top colleges, as well as interviews with over 400 college freshmen [The Early Admissions Game] challenges the official line of college admissions deans, who have long held that applying early does not give prospective students an advantage over regular applicants. But the research confirms what many high-school counselors already suspected, and it is likely to fuel debate over whether early-admissions programs favor wealthy and well-connected students and should be eliminated or reformed. --Jeffrey R. Young, Chronicle of Higher Education Reviews of this book: [This] important contribution to the college-admissions process should reduce the general anxiety that pervades today's transition to college and, in particular, help level the playing field for students who lack access to adequate college counseling. The book may also prompt needed reform of contemporary admissions practices...The authors' goal...deserves acclaim for helping inner-city and rural students and those in other understaffed districts to pursue admission on a much more even footing...There is a wealth of information in this well-organized, clearly-written book which will enable students to make better college choices. --William R. Fitzsimmons, Harvard Magazine Reviews of this book: Readers seeking solid information about elite colleges will find The Early Admissions Game refreshingly frank. Other readers concerned about restoring some equity to the process will also appreciate the book's generosity of spirit and suggestions for reform. The authors present a devastating portrait of elite college admissions--and early admissions in particular--as an elaborate and complicated "game"...[where the winners] tend to be privileged students who have access to highly skilled counselors with information pipelines to elite college admissions offices. --Peter Sacks, The Nation Reviews of this book: Avery and his colleagues describe college admissions as a casino on Mars: you have to guess the rules of the game you are playing, and the rules can change while you are playing it...[Their chief finding] is that applying early significantly increases the chances of acceptance...Colleges argue that the early-admissions pool is stronger than the regular pool...[but the authors] dispute that claim...The Early Admissions Game is intended as an exposÃ©, for high-school students and their parents, of the realities of college admissions, but it is also a protest against the practice of early admissions. The authors believe that these programs benefit privileged students...[and] cheat disadvantaged students. --Louis Menand, The New Yorker Researching and applying to colleges is a demanding, confusing, and stressful time for both students and parents. This book provides context and guidance to admissions professionals, to college counselors, and to families as they confront today's highly competitive, and often controversial, college admissions scene. It offers an insightful and authoritative explanation of the strategic choices that await those seeking to enroll at the nation's leading colleges and universities. It can help a student decide whether, when and why to apply early. Most important, it can give applicants the confidence to focus less on the "game" and more on the truly critical factors in choosing a college: the level of intellectual challenge and vitality in the curriculum, the strength and accessibility of the faculty, and the student's individual sense of fit with a particular campus environment and culture. --Nancy Vickers, President, Bryn Mawr College The Early Admissions Game explains clearly and comprehensively the many forces that have made early applications a prominent - and much misunderstood - feature in the high-pressure arena of college admissions. The authors clear away the hype and speculation, then offer refreshingly sane, sensible guidance that will greatly help students make intelligent decisions about their college applications. --William D. Wharton, Headmaster, Commonwealth School, Boston Avery, Fairbanks, and Zeckhauser offer clear and compelling evidence that the college admissions process needs repair. Their findings have already inspired steps toward reform. --Richard Levin, President, Yale University This is an exceptionally interesting and intelligent book-one with real 'news' to report. The authors present their important findings with great clarity. I expect that this volume will have a significant and favorable impact on policy discussion of early admission programs at elite colleges. --Michael McPherson, President, Macalester College Anyone involved in the college admissions process -- students and parents, counselors and admissions officers, top officials at high schools and at colleges -- should read this important book. It will help them achieve their objectives. The authors also present a number of suggestions for reforms in the admissions system that are worthy of debate across American higher education. --Lawrence H. Summers, President, Harvard University

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Page Count

204

Publisher

Harvard University Press

Published Date

ISBN 10

0674016203

ISBN 13

9780674016200

Bureaucrats, Politics And the Environment

By: Richard W. Waterman,Amelia A. Rouse,Robert Wright

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Bureaucrats, Politics And the Environment

By: Richard W. Waterman,Amelia A. Rouse,Robert Wright

The bureaucracy in the United States has a hand in almost all aspects of our lives, from the water we drink to the parts in our cars. For a force so influential and pervasive, however, this body of all nonelective government officials remains an enigmatic, impersonal entity. The literature of bureaucratic theory is rife with contradictions and mysteries. Bureaucrats, Politics, and the Environment attempts to clarify some of these problems. The authors surveyed the workers at two agencies: enforcement personnel from the U.S. Environmental Protection Agency, and employees of the New Mexico Environment Department. By examining what they think about politics, the environment, their budgets, and the other institutions and agencies with which they interact, this work puts a face on the bureaucracy and provides an explanation for its actions.

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Page Count

184

Publisher

University of Pittsburgh Pre

Published Date

ISBN 10

0822972514

ISBN 13

9780822972518

The Known, the Unknown, and the Unknowable in Financial Risk Management

Measurement and Theory Advancing Practice

By: Francis X. Diebold,Neil A. Doherty,Richard J. Herring

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The Known, the Unknown, and the Unknowable in Financial Risk Management

Measurement and Theory Advancing Practice

By: Francis X. Diebold,Neil A. Doherty,Richard J. Herring

A clear understanding of what we know, don't know, and can't know should guide any reasonable approach to managing financial risk, yet the most widely used measure in finance today--Value at Risk, or VaR--reduces these risks to a single number, creating a false sense of security among risk managers, executives, and regulators. This book introduces a more realistic and holistic framework called KuU --the K nown, the u nknown, and the U nknowable--that enables one to conceptualize the different kinds of financial risks and design effective strategies for managing them. Bringing together contributions by leaders in finance and economics, this book pushes toward robustifying policies, portfolios, contracts, and organizations to a wide variety of KuU risks. Along the way, the strengths and limitations of "quantitative" risk management are revealed. In addition to the editors, the contributors are Ashok Bardhan, Dan Borge, Charles N. Bralver, Riccardo Colacito, Robert H. Edelstein, Robert F. Engle, Charles A. E. Goodhart, Clive W. J. Granger, Paul R. Kleindorfer, Donald L. Kohn, Howard Kunreuther, Andrew Kuritzkes, Robert H. Litzenberger, Benoit B. Mandelbrot, David M. Modest, Alex Muermann, Mark V. Pauly, Til Schuermann, Kenneth E. Scott, Nassim Nicholas Taleb, and Richard J. Zeckhauser. Introduces a new risk-management paradigm Features contributions by leaders in finance and economics Demonstrates how "killer risks" are often more economic than statistical, and crucially linked to incentives Shows how to invest and design policies amid financial uncertainty

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Page Count

392

Publisher

Princeton University Press

Published Date

ISBN 10

0691128839

ISBN 13

9780691128832

Organizations and Organizing

Rational, Natural and Open Systems Perspectives

By: W Richard Scott,Gerald F. Davis

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Organizations and Organizing

Rational, Natural and Open Systems Perspectives

By: W Richard Scott,Gerald F. Davis

This broad, balanced introduction to organizational studies enables the reader to compare and contrast different approaches to the study of organizations. This book is a valuable tool for the reader, as we are all intertwined with organizations in one form or another. Numerous other disciplines besides sociology are addressed in this book, including economics, political science, strategy and management theory. Topic areas discussed in this book are the importance of organizations; defining organizations; organizations as rational, natural, and open systems; environments, strategies, and structures of organizations; and organizations and society. For those employed in fields where knowledge of organizational theory is necessary, including sociology, anthropology, cognitive psychology, industrial engineering, managers in corporations and international business, and business strategists.

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Page Count

464

Publisher

Routledge

Published Date

ISBN 10

1317345924

ISBN 13

9781317345923

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