How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
W. Arthur Lewis was one of the foremost intellectuals, economists, and political activists of the twentieth century. In this book, the first intellectual biography of Lewis, Robert Tignor traces Lewis's life from its beginnings on the small island of St. Lucia to Lewis's arrival at Princeton University in the early 1960s. A chronicle of Lewis's unfailing efforts to promote racial justice and decolonization, it provides a history of development economics as seen through the life of one of its most important founders. If there were a record for the number of "firsts" achieved by one man during his lifetime, Lewis would be a contender. He was the first black professor in a British university and also at Princeton University and the first person of African descent to win a Nobel Prize in a field other than literature or peace. His writings, which included his book The Theory of Economic Growth, were among the first to describe the field of development economics. Quickly gaining the attention of the leadership of colonized territories, he helped develop blueprints for the changing relationship between the former colonies and their former rulers. He made significant contributions to Ghana's quest for economic growth and the West Indies' desire to create a first-class institution of higher learning serving all of the Anglophone territories in the Caribbean. This book, based on Lewis's personal papers, provides a new view of this renowned economist and his impact on economic growth in the twentieth century. It will intrigue not only students of development economics but also anyone interested in colonialism and decolonization, and justice for the poor in third-world countries.
A major task of our time is to ensure adequate food supplies for the world's current population (now nearing 7 billion) in a sustainable way while protecting the vital functions and biological diversity of the global environment. The task of providing for a growing population is likely to be even more difficult in view of actual and potential changes in climatic conditions due to global warming, and as the population continues to grow. Current projections suggest that the world's temperatures will rise 1.8-4.0 by 2100 and population may reach 8 billion by the year 2025 and some 9 billion by mid-century, after which it may stabilize. This book addresses these critical issues by presenting the science needed not only to understand climate change effects on crops but also to adapt current agricultural systems, particularly in regard to genetics, to the changing conditions. Crop Adaptation to Climate Change covers a spectrum of issues related to both crops and climatic conditions. The first two sections provide a foundation on the factors involved in climate stress, assessing current climate change by region and covering crop physiological responses to these changes. The third and final section contains chapters focused on specific crops and the current research to improve their genetic adaptation to climate change. Written by an international team of authors, Crop Adaptation to Climate Change is a timely look at the potentially serious consequences of climate change for our global food supply, and is an essential resource for academics, researchers and professionals in the fields of crop science, agronomy, plant physiology and molecular biology; crop consultants and breeders; as well as climate and food scientists.
Boasting a worldwide reputation as the leading text in allergy and immunology, Middleton's Allergy continues its steadfast tradition of providing comprehensive coverage of state-of-the-art basic science, as well as authoritative guidance on the clinical concepts of day-to-day diagnosis and management of allergic disorders. Offering timely information that’s suited for clinicians and researchers alike, Middleton’s is a user-friendly and versatile source for the knowledge you need to provide optimal care to your patients! "A valuable source of reference and pre-sifted information ...the editors are to be commending in keeping the book up-to-date and clinically valuable." Reviewed by: Imnunology News, March 2015 Stay on top of continuous new developments in clinical allergy and immunology through online access to the Expert Consult site, which will feature regular updates as well as the fully searchable contents. Find all of the information you need quickly and easily with a glossary of allergy and immunology terms; highlighted key points for each chapter; hundreds of crystal-clear images with a full-color format, and access to relevant websites. Apply the latest scientific knowledge and clinical applications with new chapters on Innate and Adaptive Immunity, Immune Tolerance, Immunobiology of IgE and Its Receptors, Resolution of Allergic Inflammation, and Particulate and Allergen Interactions, plus sweeping updates throughout. Take full advantage of the major advances in asthma pathogenesis and management with significant updates on diagnosis, treatment, and special aspects of asthma. Obtain the best results from the newest therapeutics for allergic and immunologic diseases through an expanded discussion of immunotherapy that includes new chapters on Sublingual Immunotherapy, Biologics and Immunosuppressives in Asthma, and Alternative and Complementary Therapies.
Complex problem solving is the core skill for 21st Century Teams Complex problem solving is at the very top of the list of essential skills for career progression in the modern world. But how problem solving is taught in our schools, universities, businesses and organizations comes up short. In Bulletproof Problem Solving: The One Skill That Changes Everything you’ll learn the seven-step systematic approach to creative problem solving developed in top consulting firms that will work in any field or industry, turning you into a highly sought-after bulletproof problem solver who can tackle challenges that others balk at. The problem-solving technique outlined in this book is based on a highly visual, logic-tree method that can be applied to everything from everyday decisions to strategic issues in business to global social challenges. The authors, with decades of experience at McKinsey and Company, provide 30 detailed, real-world examples, so you can see exactly how the technique works in action. With this bulletproof approach to defining, unpacking, understanding, and ultimately solving problems, you’ll have a personal superpower for developing compelling solutions in your workplace. Discover the time-tested 7-step technique to problem solving that top consulting professionals employ Learn how a simple visual system can help you break down and understand the component parts of even the most complex problems Build team brainstorming techniques that fight cognitive bias, streamline workplanning, and speed solutions Know when and how to employ modern analytic tools and techniques from machine learning to game theory Learn how to structure and communicate your findings to convince audiences and compel action The secrets revealed in Bulletproof Problem Solving will transform the way you approach problems and take you to the next level of business and personal success.
The authors examine the role of the law in developing large financial markets necessary for national economic success. They discuss the basic foundational law of contracts, property and tort, corporate law, and securities law, providing both a broad theoretical and empirical case for its value in financial markets.
The volume is concerned exclusively with all the binary species formed between the elements silicon and fluorine such as SiF, SiF2, SiF3, SiF4, and Sif62-. Most of the volume, i.e. 144 pages, is devoted to the description of the well known physical and chemical properties of the SiF4 as well as to its preparation. This is followed in length by the report on SiF2 with its interesting chemistry, along with a section on the diatomic radical SiF. Species with fivefold and sixfold coordination of silicon are exemplified by SiF5- and by the well known SiF62-. Interestingly, the detailed models for describing the bonding situation in both ions are still a matter of discussion. While for Si2F6 most of the basic data are known, information on the chemical and physical properties of the higher members of the acylic perfluorosilanes, SinF2n+2, is scarce. All available information on the unstable cyclic perfluorosilanes of composition (SiF2)n and some even more exotic species is also included.
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