Background
Schmalensee, Richard Lee was born on February 16, 1944 in Belleville, Illinois, United States. Son of Fred and Marjorie June (Veigel) Schmalensee.
(This is a reproduction of a book published before 1923. T...)
This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.
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( Get ready to change the way you think about economics. ...)
Get ready to change the way you think about economics. Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans―predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth―and change the way we think about economics, ourselves, and our world. Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments. Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber. Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining.
http://www.amazon.com/gp/product/0393080943/?tag=2022091-20
(Markets for Clean Air provides a comprehensive, in-depth ...)
Markets for Clean Air provides a comprehensive, in-depth description and evaluation of the first three years' experience with the U.S. Acid Rain Program. This environmental control program is the world's first large-scale use of a tradable emission permit system for achieving environmental goals. The book analyzes the behavior and performance of the market for emissions permits, called allowances in the Acid Rain Program, and quantifies emission reductions, compliance costs, and cost savings associated with the trading program. The book also includes chapters on the historical context in which this pioneering program developed and the political economy of allowance allocations.
http://www.amazon.com/gp/product/0521660831/?tag=2022091-20
( Software platforms are the invisible engines that have ...)
Software platforms are the invisible engines that have created, touched, or transformed nearly every major industry for the past quarter century. They power everything from mobile phones and automobile navigation systems to search engines and web portals. They have been the source of enormous value to consumers and helped some entrepreneurs build great fortunes. And they are likely to drive change that will dwarf the business and technology revolution we have seen to this point. Invisible Engines examines the business dynamics and strategies used by firms that recognize the transformative power unleashed by this new revolution -- a revolution that will change both new and old industries. The authors argue that in order to understand the successes of software platforms, we must first understand their role as a technological meeting ground where application developers and end users converge. Apple, Microsoft, and Google, for example, charge developers little or nothing for using their platforms and make most of their money from end users; Sony PlayStation and other game consoles, by contrast, subsidize users and make more money from developers, who pay royalties for access to the code they need to write games. More applications attract more users, and more users attract more applications. And more applications and more users lead to more profits. Invisible Engines explores this story through the lens of the companies that have mastered this platform-balancing act. It offers detailed studies of the personal computer, video game console, personal digital assistant, smart mobile phone, and digital media software platform industries, focusing on the business decisions made by industry players to drive profits and stay a step ahead of the competition. Shorter discussions of Internet-based software platforms provide an important glimpse into a future in which the way we buy, pay, watch, listen, learn, and communicate will change forever. An electronic version of this book is available under a Creative Commons license.
http://www.amazon.com/gp/product/0262550687/?tag=2022091-20
(In an economy where markets, consumers, and technology ar...)
In an economy where markets, consumers, and technology are ever-changing and increasingly interdependent, economic catalysts businesses that bring together a number of groups who need each other and make it easy for them to work together are essential. Think of the credit card industry. This trillion dollar industry brings merchants and consumers together. Google creates value for its customers, and makes billions for itself, by bringing searchers and advertisers together. Companies that do this right and transform their pricing practices, incentive plans, and organizational structures are today's power brokers. Of course, catalysts have been around as long as marketplaces. But now, more than ever, they drive the economy. Doing business in this world isn t for the faint of heart but Catalyst Code maps it out, showing where the opportunities and pitfalls lie.
http://www.amazon.com/gp/product/1422101991/?tag=2022091-20
(This book was originally published prior to 1923, and rep...)
This book was originally published prior to 1923, and represents a reproduction of an important historical work, maintaining the same format as the original work. While some publishers have opted to apply OCR (optical character recognition) technology to the process, we believe this leads to sub-optimal results (frequent typographical errors, strange characters and confusing formatting) and does not adequately preserve the historical character of the original artifact. We believe this work is culturally important in its original archival form. While we strive to adequately clean and digitally enhance the original work, there are occasionally instances where imperfections such as blurred or missing pages, poor pictures or errant marks may have been introduced due to either the quality of the original work or the scanning process itself. Despite these occasional imperfections, we have brought it back into print as part of our ongoing global book preservation commitment, providing customers with access to the best possible historical reprints. We appreciate your understanding of these occasional imperfections, and sincerely hope you enjoy seeing the book in a format as close as possible to that intended by the original publisher.
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( In Defense of Monopoly offers an unconventional but emp...)
In Defense of Monopoly offers an unconventional but empirically grounded argument in favor of market monopolies. Authors McKenzie and Lee claim that conventional, static models exaggerate the harm done by real-world monopolies, and they show why some degree of monopoly presence is necessary to maximize the improvement of human welfare over time. Inspired by Joseph Schumpeter's suggestion that market imperfections can drive an economy's long-term progress, In Defense of Monopoly defies conventional assumptions to show readers why an economic system's failure to efficiently allocate its resources is actually a necessary precondition for maximizing the system's long-term performance: the perfectly fluid, competitive economy idealized by most economists is decidedly inferior to one characterized by market entry and exit restrictions or costs. An economy is not a board game in which players compete for a limited number of properties, nor is it much like the kind of blackboard games that economists use to develop their monopoly models. As McKenzie and Lee demonstrate, the creation of goods and services in the real world requires not only competition but the prospect of gains beyond a normal competitive rate of return.
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(Dornbusch, Fischer, and Startz has been a long-standing, ...)
Dornbusch, Fischer, and Startz has been a long-standing, leading intermediate macroeconomic theory text since its introduction in 1978. This revision retains most of the text's traditional features, including a middle-of-the-road approach and very current research, while updating and simplifying the exposition. A balanced approach explains both the potential and limitations of economic policy. Macroeconomics employs a model-based approach to macroeconomic analysis and demonstrates how various models are connected with the goal of giving students the capacity to analyze current economic issues in the context of an economic frame of reference. The only pre-requisite continues to be principles of economics.
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(ECONOMICS: PRIVATE AND PUBLIC CHOICE, Fifteenth Edition, ...)
ECONOMICS: PRIVATE AND PUBLIC CHOICE, Fifteenth Edition, reflects current economic conditions, enabling you to apply economic concepts to the real world. The up-to-date text includes analysis and explanation of measures of economic activity in today's market. It also includes highlights of the recession of 2008-2009, and an in-depth look at the lives and contributions of notable economists. ECONOMICS: PRIVATE AND PUBLIC CHOICE dispels common economic myths. The text uses the "invisible hand" metaphor to explain economic theory, demonstrating how it works to stimulate the economy. The fifteenth edition includes online learning solutions to improve your learning outcomes. Graphing tutorials and videos embedded within the interactive reader support your classroom work and improve your performance.
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(In "Whatever Happened to Penny Candy?" Richard Maybury us...)
In "Whatever Happened to Penny Candy?" Richard Maybury uses historical events from Ancient Rome to explain economic principles. This clearly written book about economics is a remarkably easy and fun explanation of investment cycles, velocity, business cycles, recessions, inflation, the demand for money and more. Essential for every student, businessperson and investor. Recommended by the late William Simon, former U.S. Treasury Secretary. It is also on many recommended reading lists. "Whatever Happened to Penny Candy?" can be used for courses in Economics, Business, Finance, Government and Ancient Rome. To improve the student's learning experience, also purchase the student study guide for "Whatever Happened to Penny Candy?" titled "A Bluestocking Guide: Economics" also available through Amazon. Table of Contents for "Whatever Happened to Penny Candy?" Acknowledgements Beyond the Basics Author's Disclosure Preface Note to Reader A Note About Economics Smart 1. Money: Coins and Paper 2. Tanstaafl, The Romans, and Us 3. Inflation 4. Dollars, Money, and Legal Tender 5. Revolutions, Elections, and Printing Presses Big Mac Index 6. Wages, Prices, Spirals, and Controls 7. Wallpaper, Wheelbarrows, and Recessions Boom and Bust Cycle Since the Civil War 8. Fast Money History Repeats 9. Getting Rich Quick 10. The Boom and Bust Cycle 11. How Much is a Trillion? The Roaring 90s Federal Debt Chart 12. What's So Bad About the Federal Debt? An Interesting Exercise One Reason Governments Spend So Much 13. Summary What Happened in 2008? The Unknown Shakeout 14. Where Do We Go From Here? 15. Natural Law and Economic Prosperity Nations and Legal Systems Appendix Excerpt from The Long Winter Sutter's Fort Trade Store Sign Comparison of Law Chart Distilled Wisdom The Truth About Inflation The Oil Myth Measures of Money Supply Supply of Dollars Chart Real Wages Real Wages Chart How to Invest in Gold and Silver Resources Movies and Documentaries Internet Addresses Financial Newsletters Bibliography and Recommended Reading Glossary Index About Richard J. Maybury Bluestocking Press Books for Further Study (also available through Amazon) "Economics: A Free Market Reader" contains articles by noted economists that expand on the concepts presented in "Penny Candy." Study questions/answers included. "Capitalism for Kids" explains the philosophy of entrepreneurship. Excellent information for both kids and adults. Includes a test to help kids determine if they have the personality to become an entrepreneur. "Common Sense Business for Kids" explains common sense strategies behind basic business principles. Gems of wisdom for the businessperson (young or experienced) conveyed through real-life stories and anecdotes. Though written with young people in mind, this book is engaging and beneficial for adults as well. "Whatever Happened to Justice?" explains the common law model. Maybury says, "In my opinion, you and your family and friends will avoid a lot of trouble, and find success of every kind easier to achieve, if you adopt these two models, Austrian economics and common law. 'Penny Candy' explains the Economic model. Now, read 'Justice' for the Legal model. Underlying common law are two basic rules: 1) do all that you agreed to do and 2) do not encroach on other persons or their property."
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Schmalensee, Richard Lee was born on February 16, 1944 in Belleville, Illinois, United States. Son of Fred and Marjorie June (Veigel) Schmalensee.
Bachelor of Science, Massachusetts Institute of Technology, 1965. Doctor of Philosophy in economics, Massachusetts Institute of Technology, 1970.
Assistant professor economics University California, San Diego, 1970—1974, associate professor economics, 1974—1977. Instructor Sloan School Management, Massachusetts Institute of Technology, Cambridge, Massachusetts, 1967—1969, assistant professor, 1970, associate professor applied economics, 1977-1979, professor, since 1979, professor department economics, since 1986, Gordon Y Billard Professor of Economics and Management, 1988-1999, deputy dean, 1996—1998, interim dean, 1998, dean, 1998—2000, John C Head III Dean, 2001—2007, dean emeritus, since 2007, Howard W. Johnson professor applied economics, since 2007. Director Center for Energy and Environmental Policy Research Massachusetts Institute of Technology, 1991-1999, since 2008.
Visiting professor Harvard Business School, 1985—1986, University Louvain, Belgium, 1985, visiting associate professor, research fellow, Belgium, 1973—1974. Visiting scholar department economics Harvard University, 1980—1981. Editorial board Journal of Economics and Management Strategy, 1992—1998.
Associate editor International Journal Industrial Organization, 1982—1989, Journal Economic Perspectives, 1992—1998. Board editors American Economic Review, 1982—1986. Associate editor Journal Industrial Economics, 1977—1981, board editors, 1981—1989.
Founding editor Regulation of Economic Activity, 1978—1989, co-editor, since 1989. Member President's Council Economic Advisers, 1989—1991. Board directors American Council for Capital Formation Center for Policy Research, since 1991, environmental policy fellow, 1997—1998.
Research associate National Bureau Economic Research, since 1992. International Research Fellow Kiel Institute World Economics, since 2001. Special consultant Nordic Educational Research Association Economic Consultant, 1981—1989, 1991—2004.
Board directors International Securities Exchange, 2000—2009, International Data Group, since 2004. Director LECG, LLC, since 2004. Editor chief Competition Policy International, 2005—2008, chairman editorial board, since 2009.
(In an economy where markets, consumers, and technology ar...)
(This book was originally published prior to 1923, and rep...)
(ECONOMICS: PRIVATE AND PUBLIC CHOICE, Fifteenth Edition, ...)
( Software platforms are the invisible engines that have ...)
(Dornbusch, Fischer, and Startz has been a long-standing, ...)
(Markets for Clean Air provides a comprehensive, in-depth ...)
(In "Whatever Happened to Penny Candy?" Richard Maybury us...)
( In Defense of Monopoly offers an unconventional but emp...)
(This is a reproduction of a book published before 1923. T...)
( Get ready to change the way you think about economics. ...)
(Book by Schmalensee, Richard L.)
(Lang:- eng, Pages 154. Reprinted in 2015 with the help of...)
(1st edition)
Author: The Economics of Advertising, 1972, Applied Microeconomics, 1973, The Control of Natural Monopolies, 1979. Co-author: An Introduction to Applied Macroeconomics, 1973, Markets for Power, 1983, Economics, 1988, Paying with Plastic, 1999, Markets for Clean Air, 2000, Did Microsoft Harm Consumers? Two Opposing Views, 2000, Paying With Plastic, 2nd edition, 2005, Invisible Engines, 2005, Catalyst Code, 2007. Co-editor: The Empirical Renaissance in Industrial Economics, 1987, Handbook of Industrial Organization, 1989, Management: Inventing and Delivering Its Future, 2003.
I began my career thinking of myself as a microeconomist interested in lots of things. And I worked on lots of things, from macroeconomic modelling to cost/benefit analysis. Over time, my interests have focussed more sharply on industrial economics, though I still shop around to some extent.
In industrial economics, two principal themes of my work have been, in retrospect, the power of theory to illuminate market reality, and the importance of nonprice competition in modern markets. I continue to enjoy using a variety of techniques to explore a variety of problems, and I remain committed to the proposition that economics is concerned with understanding the world as it is.
Fellow: American Association for the Advancement of Science, Econometric Society. Member: International Academy Management, American Economic Association (nominating committee 1987, executive committee 1993-1995, member Government rels commission since 2009).
Married Edeth Diane Hawk, August 19, 1967. Children: Alexander Clayton, Nicholas Hawk.