The standard rules of probability can be interpreted as uniquely valid principles in logic. In this book, E. T. Jaynes dispels the imaginary distinction between 'probability theory' and 'statistical inference', leaving a logical unity and simplicity, which provides greater technical power and flexibility in applications. This book goes beyond the conventional mathematics of probability theory, viewing the subject in a wider context. New results are discussed, along with applications of probability theory to a wide variety of problems in physics, mathematics, economics, chemistry and biology. It contains many exercises and problems, and is suitable for use as a textbook on graduate level courses involving data analysis. The material is aimed at readers who are already familiar with applied mathematics at an advanced undergraduate level or higher. The book will be of interest to scientists working in any area where inference from incomplete information is necessary.
In this book the author examines and ultimately rejects the conventional economic view that workers who have more dangerous jobs accept their risks voluntarily and are compensated through higher wages. In doing so, he attacks widely used techniques for assigning a monetary value to human life for cost-benefit analysis and other purposes. Arguments are drawn from the history of occupational safety and health, econometric analysis of wage and risk data, and formal models of the labour market. In place of the conventional view, Peter Dorman proposes a view based on new work in decision theory (thick rationality) and the theory of repeated games. These insights are combined with comparative policy analysis to support an approach to risk that promotes both regulatory effectiveness and democratic values. Despite its technical content, the book is written in highly accessible style, and is concerned with matters of general interest in the development of critical social science.
Fossil fuels are a finite resource, and their continued use as the world's dominant energy supply is damaging the environment. Future use of alternative methods of energy supply is inescapable, and this book explores the historical origins, technical features, marketability, and environmental impacts of the complete range of sustainable energy technologies: solar, biomass, wind, hydropower, geothermal power, ocean-energy sources, solar-derived hydrogen fuel, and energy storage. The aim is to inform policy analysts and decision makers of the options available for sustainable energy production. The book is therefore written so as to be accessible to an audience from a broad range of backgrounds and scientific training. It will also be a valuable supplementary text for advanced courses in environmental studies, energy economics and policy, and engineering.
Written in an appealing and informal style, this text is a self-contained second course on mathematical methods dealing with topics in linear algebra and multivariate calculus that can be applied to statistics, operations research, computer science, econometrics and mathematical economics. The prerequisites are elementary courses in linear algebra and calculus, but the author has maintained a balance between a rigorous theoretical and a cookbook approach, giving concrete and geometric explanations, so that the material will be accessible to students who have not studied mathematics in depth. Indeed, as much of the material is normally available only in technical textbooks, this book will have wide appeal to students whose interest is in application rather than theory. The book is amply supplied with examples and exercises: complete solutions to a large proportion of these are provided.
Innovation Policy in a Global Economy concludes the successful sequence of books on Globalisation and Technology edited by Daniele Archibugi and Jonathan Michie, following Technology, Globalisation and Economic Performance (Cambridge University Press, 1997) and Trade, Growth and Technical Change (Cambridge University Press, 1998). This final volume argues that the opportunities offered by globalisation will only be fully realised by organisations which have developed institutions that allow for the transfer, absorption, and use of knowledge. Innovation Policy in a Global Economy is relevant for graduate and undergraduate courses in management and business, economics, geography, international political economy, and innovation and technology studies. Presenting original theoretical and empirical research by leading international experts in an accessible style, Innovation Policy will be vital reading for researchers and students and of use to public policy professionals.
Economic Principles of Law, first published in 2007, applies economics to the doctrines, rules and remedies of the common law. In plain English and using non-technical analysis, it offers an introduction and exposition of the 'economic approach' to law - one of the most exciting and vibrant fields of legal scholarship and applied economics. Beginning with a brief history of the field, it sets out the basic economic concepts useful to lawyers, and applies these to assess the core areas of the common law - property, contract, tort and crime - with particular emphasis on their doctrinal structure and remedies. This is done using leading cases drawn from the birthplace of the common law (England & Wales) and other common law jurisdictions. The book serves as a primer to the wider use of economics which has become increasingly important for law students, lawyers, legislators, regulators and those concerned with our legal system generally.
The Road to Monetary Union analyses in non-technical language the process leading to adoption of a common currency for the European Union. The monetary union process involved different issues at different times and the contemporary global background mattered. The Element explains why monetary union was attempted and failed in the 1970s, and why the process was restarted in 1979, accelerated after 1992 and completed for a core group of EU members in 1999. It analyzes connections between eurozone membership and Greece's sovereign debt crisis. It concludes with analysis of how the eurozone works today and with discussion of its prospects for the 2020s. The approach is primarily economic, while acknowledging the role of politics (timing) and history (path dependence). A theme is to challenge simplistic ideas (e.g. that the euro has failed) with fuller analysis of competing pressures to shape the nature of monetary union.
This volume is one of the most remarkable works in the history of economic thought. Its principal significance rests in its argument that economic theory, however technical or pragmatic, is necessaril
Knoop (economics, Cornell College) goes beyond the technical in this accessible account of how financial markets and institutions affect modern macroeconomics. He introduces the basics of financial ma
Twelve chapters cover a wide variety of topics, including finance, contracts, political risk insurance, legal issues, economics, and technical cooperation. All treatment of these subjects focuses on c
Natural law ethics centres on the idea that ethical norms derive from human nature. The field has seen a remarkable revival since the millennium, with new work in Aristotelian metaphysics complementing innovative applied work in bioethics, economics and political theory. Starting with three chapters on the history of natural law ethics, this volume moves on to various twentieth-century theoretical innovations in the tradition, and then to natural law as embedded in the three Abrahamic faiths. It closes with sections on applied natural law ethics and the challenges and prospects for natural law ethics in the twenty-first century. Uniquely interdisciplinary and written without technical jargon, the book will be of great interest to students and researchers in philosophy, theology, political theory and economics. They will find this the go-to resource for cutting-edge thinking in natural law ethics.
Writing for students and teachers of college level courses on cost-benefit analysis, Quah (economics, Nanyang Technical U.-Singapore) and Singapore economist Toh present examples to illustrate the rea
Natural law ethics centres on the idea that ethical norms derive from human nature. The field has seen a remarkable revival since the millennium, with new work in Aristotelian metaphysics complementing innovative applied work in bioethics, economics and political theory. Starting with three chapters on the history of natural law ethics, this volume moves on to various twentieth-century theoretical innovations in the tradition, and then to natural law as embedded in the three Abrahamic faiths. It closes with sections on applied natural law ethics and the challenges and prospects for natural law ethics in the twenty-first century. Uniquely interdisciplinary and written without technical jargon, the book will be of great interest to students and researchers in philosophy, theology, political theory and economics. They will find this the go-to resource for cutting-edge thinking in natural law ethics.
This book offers an up-to-date, comprehensive coverage of stochastic dominance and its related concepts in a unified framework. A method for ordering probability distributions, stochastic dominance has grown in importance recently as a way to measure comparisons in welfare economics, inequality studies, health economics, insurance wages, and trade patterns. Whang pays particular attention to inferential methods and applications, citing and summarizing various empirical studies in order to relate the econometric methods with real applications and using computer codes to enable the practical implementation of these methods. Intuitive explanations throughout the book ensure that readers understand the basic technical tools of stochastic dominance.
With its intuitive yet rigorous approach to machine learning, this text provides students with the fundamental knowledge and practical tools needed to conduct research and build data-driven products. The authors prioritize geometric intuition and algorithmic thinking, and include detail on all the essential mathematical prerequisites, to offer a fresh and accessible way to learn. Practical applications are emphasized, with examples from disciplines including computer vision, natural language processing, economics, neuroscience, recommender systems, physics, and biology. Over 300 color illustrations are included and have been meticulously designed to enable an intuitive grasp of technical concepts, and over 100 in-depth coding exercises (in Python) provide a real understanding of crucial machine learning algorithms. A suite of online resources including sample code, data sets, interactive lecture slides, and a solutions manual are provided online, making this an ideal text both for grad
Over five decades of economic and technical assistance to the countries of Africa and the Middle East have failed to improve the life prospects for over 1.4 billion people who remain vulnerable. Billi
Over five decades of economic and technical assistance to the countries of Africa and the Middle East have failed to improve the life prospects for over 1.4 billion people who remain vulnerable. Billi
Now revised and updated and containing several entirely new chapters, this book provides a comprehensive introduction to political philosophy. It discusses historical and contemporary figures and covers a vast range of topics and debates, including immigration, war, national and global economics, the ethical and political implications of climate change, and the persistence of racial oppression and injustice. It also presents accessible, non-technical discussions of perfectionism, utilitarianism, theories of the social contract, and the Marxian tradition of social criticism. Real-life examples introduce students to ways of using philosophical reflection and debates, and open up new perspectives on politics and political issues. Throughout, this book challenges readers to think critically about political arguments and institutions that they might otherwise take for granted. It will be a vital and provocative resource for any student of philosophy or political science.
This book deals with the prime movers of socio-economic development, innovations and technical change, their origins, forms and effects. It contains a set of closely related chapters, some of which ha
