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Individual and Collective Rationality

Leif Lewin

in Self-Interest and Public Interest in Western Politics

Published in print:
1991
Published Online:
November 2003
ISBN:
9780198277255
eISBN:
9780191599774
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198277253.003.0005
Subject:
Political Science, Comparative Politics

The final chapter of the book draws conclusions and implications from the evidence presented in previous chapters that public interest seems to be of greater importance in democratic politics than ... More


Designing Student Loans

Nicholas Barr

in The Welfare State as Piggy Bank: Information, Risk, Uncertainty, and the Role of the State

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199246595
eISBN:
9780191595936
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199246599.003.0012
Subject:
Economics and Finance, Public and Welfare

Imperfect information, risk, and uncertainty create capital market imperfections. As a result, conventional loans, i.e. mortgage‐type loans, are both inefficient and inequitable. Income‐contingent ... More


Introduction: Traders, Markets, and Social Science

Mark Fenton-O'Creevy, Nigel Nicholson, Emma Soane, and Paul Willman

in Traders: Risks, Decisions, and Management in Financial Markets

Published in print:
2004
Published Online:
October 2011
ISBN:
9780199269488
eISBN:
9780191699405
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199269488.003.0001
Subject:
Business and Management, Finance, Accounting, and Banking, Organization Studies

Professional traders utilize market imperfections through lower transaction costs, access to privileged information, critical mass, or proprietary knowledge and models. To be able to understand the ... More


The Regulated Common Property

Jean‐Marie Baland and Jean‐Philippe Platteau

in Halting Degradation of Natural Resources: Is There a Role for Rural Communities?

Published in print:
2000
Published Online:
January 2005
ISBN:
9780198290612
eISBN:
9780191601613
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198290616.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter analyses the regulated common property regime, wherein human groups impose sufficient discipline upon their members to save common property resources from destruction or degradation. It ... More


Interlinkage of Transactions and Rural Development

Pranab Bardhan and Christopher Udry

in Development Microeconomics

Published in print:
1999
Published Online:
November 2003
ISBN:
9780198773719
eISBN:
9780191595929
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198773714.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

Studies the economics behind the agrarian institutional arrangement of interlinked transactions. First, a model of credit‐labour interlinkage in which a landlord‐employer provides a loan to a peasant ... More


Causes and Lessons of the Mexican Peso Crisis

Griffith-Jones Stephany

in Short-Term Capital Flows and Economic Crises

Published in print:
2001
Published Online:
October 2011
ISBN:
9780198296867
eISBN:
9780191685286
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198296867.003.0007
Subject:
Economics and Finance, Development, Growth, and Environmental, Macro- and Monetary Economics

The Managing Director of the IMF deemed the crisis faced by the Mexican peso in December 1994 as the ‘first major crisis of the 21st century’. Analyzing the Mexican peso crisis reveals that it was ... More


Risk and Welfare, I: Private and Social Profitability

G. B. Richardson

in Information and Investment: A Study in the Working of the Competitive Economy

Published in print:
1997
Published Online:
November 2003
ISBN:
9780198292432
eISBN:
9780191596810
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198292430.003.0010
Subject:
Economics and Finance, Microeconomics

Consideration is given to how the response of individual firms to risk affects resource allocation in the economy as a whole. The private and social costs of over‐ and under‐investment are discussed. ... More


An Approach to Applied Welfare Economics

Raaj K. Sah and Joseph E. Stiglitz

in Peasants versus City-Dwellers: Taxation and the Burden of Economic Development

Published in print:
2002
Published Online:
January 2005
ISBN:
9780199253579
eISBN:
9780191601682
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199253579.003.0003
Subject:
Economics and Finance, Development, Growth, and Environmental

One of the contributions of this book is to use and develop the principles of modern public finance for the analysis of LDCs (less developed countries). This is done by borrowing from two ... More


Expectations, Asset Prices, and Monetary Policy: The Role of Learning

Simon Gilchrist and Masashi Saito

in Asset Prices and Monetary Policy

Published in print:
2008
Published Online:
February 2013
ISBN:
9780226092119
eISBN:
9780226092126
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226092126.003.0003
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter considers the design of monetary policy rule in an environment where both the private sector and the monetary authority learn about the trend growth rate of technology. In the presence ... More


What’s Blocking Innovation in Legacy Sectors?

William B. Bonvillian and Charles Weiss

in Technological Innovation in Legacy Sectors

Published in print:
2015
Published Online:
August 2015
ISBN:
9780199374519
eISBN:
9780199374540
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199374519.003.0005
Subject:
Economics and Finance, Microeconomics

Legacy sector paradigms share common features: perverse subsidies, prices, and price structures that neglect externalities; institutions that favor existing technology and discourage new entrants; ... More


Six US Legacy Sectors: Energy, the Grid, Buildings, Air and Auto Transport, and Manufacturing

William B. Bonvillian and Charles Weiss

in Technological Innovation in Legacy Sectors

Published in print:
2015
Published Online:
August 2015
ISBN:
9780199374519
eISBN:
9780199374540
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199374519.003.0006
Subject:
Economics and Finance, Microeconomics

In US industrial sectors any paradigm-inconsistent innovation faces a nonlevel playing field. Fossil fuels deliver cost-effective, reliable energy. As a result, change drivers are environmental and ... More


Staying Informed: The Risks of Poor Information in Atlantic World Trade

Jeremy Baskes

in Staying Afloat: Risk and Uncertainty in Spanish Atlantic World Trade, 1760-1820

Published in print:
2013
Published Online:
January 2014
ISBN:
9780804785426
eISBN:
9780804786355
Item type:
chapter
Publisher:
Stanford University Press
DOI:
10.11126/stanford/9780804785426.003.0002
Subject:
History, Latin American History

Chapter 2 explores the dissemination of mercantile information in the Spanish Atlantic world. Correspondence between trusted merchants and agents played an enormously important role in governing ... More


Theoretical Implications

Alex Bryson, Richard Freeman, Claudio Lucifora, Michele Pellizzari, and Virginie Pérotin

in Executive Remuneration and Employee Performance-Related Pay: A Transatlantic Perspective

Published in print:
2013
Published Online:
May 2013
ISBN:
9780199669806
eISBN:
9780191749407
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199669806.003.0013
Subject:
Economics and Finance, Macro- and Monetary Economics

Compensation systems based on employee performance are seen as a way to correct some of the imperfections in labour, product, and capital markets that affect the employment relationship. By ... More


Liquidity Constraints

Tullio Jappelli and Luigi Pistaferri

in The Economics of Consumption: Theory and Evidence

Published in print:
2017
Published Online:
October 2017
ISBN:
9780199383146
eISBN:
9780199383160
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199383146.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

The theory of intertemporal choice that we have developed so far assumes that there are no imperfections in the credit market. The ability to borrow and save as much as needed—imposing only the ... More


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