Political Economy of City Sizes and Formation
... local governments. A fundamental result will be that unconstrained developer formation of new cities can be sufficient to force existing selforganized cities to efficient sizes. In Section 4, we turn to typical situations in many countries, both developed Že.g., the United States and UK. and undevel ...
... local governments. A fundamental result will be that unconstrained developer formation of new cities can be sufficient to force existing selforganized cities to efficient sizes. In Section 4, we turn to typical situations in many countries, both developed Že.g., the United States and UK. and undevel ...
Homo Economicus Goes to War - UCLA Division of Social Sciences
... presumption is that wars start with the decision of rebels and the analysis abstracts from much of state policy and from state violence. There is no discussion of where the ‘‘players’’ come from other than as the product of relevant economistic calculations, to be discussed below. While in some mode ...
... presumption is that wars start with the decision of rebels and the analysis abstracts from much of state policy and from state violence. There is no discussion of where the ‘‘players’’ come from other than as the product of relevant economistic calculations, to be discussed below. While in some mode ...
THE CONCEPTUALIZATION OF `TRUST` IN ECONOMIC THOUGHT
... When a transaction between two parties recurs frequently, the two parties can construct a special governance structure for the transaction, even if the governance structures are costly, since the cost of the structure can be amortised over many transactions. But when the transaction is a one-time-o ...
... When a transaction between two parties recurs frequently, the two parties can construct a special governance structure for the transaction, even if the governance structures are costly, since the cost of the structure can be amortised over many transactions. But when the transaction is a one-time-o ...
Dr Phillip Toner - Productivity Commission
... Adam Smith, the pursuit of individual self-interest is transformed into an overall harmony of interests across society. Central to neoliberal public policy is substantially reducing the ‘size of the state’ or, where state activities are in the nature of a ‘public good’, have them subject to competit ...
... Adam Smith, the pursuit of individual self-interest is transformed into an overall harmony of interests across society. Central to neoliberal public policy is substantially reducing the ‘size of the state’ or, where state activities are in the nature of a ‘public good’, have them subject to competit ...
Economy as Religion
... least. All of the concepts involved can mean several different things, and it is of great importance to clarify what is meant by each of them. The quotes I have used in the introduction all have different meanings implied, and can be interpreted for example in the following manner: First, the South ...
... least. All of the concepts involved can mean several different things, and it is of great importance to clarify what is meant by each of them. The quotes I have used in the introduction all have different meanings implied, and can be interpreted for example in the following manner: First, the South ...
Globalization and the Dynamics of Regulatory
... Modelling is a mechanism whereby regulatory change is achieved through a process of observational learning (Braithwaite and Drahos 2000). The widespread use of modelling shows that convergence of de facto standards of practice (if not de jure laws and regulations) is perhaps more likely to occur thr ...
... Modelling is a mechanism whereby regulatory change is achieved through a process of observational learning (Braithwaite and Drahos 2000). The widespread use of modelling shows that convergence of de facto standards of practice (if not de jure laws and regulations) is perhaps more likely to occur thr ...
Document
... Since b appears wherever a does, if there were a minimum-cost solution with b > 1, we could replace b by 1 and a by ab, and the cost would lower. ...
... Since b appears wherever a does, if there were a minimum-cost solution with b > 1, we could replace b by 1 and a by ab, and the cost would lower. ...
Microeconomics
Microeconomics (from Greek prefix mikro- meaning ""small"") is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources. Typically, it applies to markets where goods or services are bought and sold. Microeconomics examines how these decisions and behaviors affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the quantity supplied and quantity demanded of goods and services.This is in contrast to macroeconomics, which involves the ""sum total of economic activity, dealing with the issues of growth, inflation, and unemployment."" Microeconomics also deals with the effects of national economic policies (such as changing taxation levels) on the aforementioned aspects of the economy. Particularly in the wake of the Lucas critique, much of modern macroeconomic theory has been built upon 'microfoundations'—i.e. based upon basic assumptions about micro-level behavior.One of the goals of microeconomics is to analyze market mechanisms that establish relative prices amongst goods and services and allocation of limited resources amongst many alternative uses. Microeconomics also analyzes market failure, where markets fail to produce efficient results, and describes the theoretical conditions needed for perfect competition. Significant fields of study in microeconomics include general equilibrium, markets under asymmetric information, choice under uncertainty and economic applications of game theory. Also considered is the elasticity of products within the market system.