Kategoria BISAC: Business & Economics >> Economics - Microeconomics

Real exchange rate changes - resulting either from shifts in nominal exchange rates or increases in costs that are asymmetric across countries - are the primary focus of this text. The book shows how exchange rates and local production costs are passed through into import prices. It is found both analytically and empirically for OECD countries that pass-through is incomplete and the degree of pass-through depends on country and industry characteristics such as production share, market structure, product attributes and demand features. The book also investigates the implications of exchange...

Classical microeconomics is intended to explain how a price system is able to coordinate the economic agents. But even if it can be extended to incomplete information and externalities, it remains grounded on very heroic assumptions. Agents are endowed with a very strong rationality, equilibrium is stated without a concrete process to achieve it, market is the unique institution considered. Evolutionary microeconomics is aimed at bypassing these limitations by considering a dynamic approach, however not biologically oriented. Agents have local information and bounded rationality, they are...

Democracy is for everybody, not just a majority. This book describes the voting procedures by which majority rule may be replaced by a more consensual system of governance. In a word, such an inclusive polity can be achieved by asking the voters or, more usually, their representatives in councils and parliaments, to state their preferences, so to facilitate the identification of that option which gains the highest average preference score. The first part of the book describes three different voting procedures, the Modified Borda Count, the Quota Borda System and the Matrix Vote, and gives...

Interest in, and acknowledgement of, the value of culture and cultural goods is increasing world-wide. So too is interest in valuing the arts so that efficient funding decisions can be made by government and private sponsors. "Measuring the Value of Culture" documents the use of methods used to put a price on cultural goods, including theatre, heritage, cultural events like arts festivals, museums, archaelogical sites and libraries. The methods discussed include economic impact studies, which use market data, as well as non-market valuation techniques like willingness to pay methods and...