Recent years have seen the development of new theories of market failure based on asymmetric information and network effects. According to the new paradigm, we can expect substantial failure in the markets for labor, credit, insurance, software, new technologies and even used cars, to give but a...

The book reprints the main articles from the 1972 volume Explorations in the Theory of Anarchy, and contains a response to each chapter, as well as new comments by Gordon Tullock, James Buchanan, Jeffrey Rogers Hummel and Peter Boettke. The younger economists are notably less pessimistic about...

This book focuses on arrangements for redistributing consumption opportunities over the life cycle and for providing compensation for income losses or large expenditures due to reasons such as illness and unemployment. After extensive coverage of the nature of inequalities in income and wealth...

In this innovative book the author examines the link between environmental, trade and industrial policies within an interregional setting. He models how regional governments, using tax rates on real capital and pollutant emissions, determine policies to favour their residents in terms of the...

This book brings together John Creedy's most important essays on the history of economic analysis. The book contributes to our understanding of the development of economics by looking at the subject and some of its major players including Pareto, Edgeworth, Marshall and Wicksell, from an...

Contingent Valuation and Endangered Species provides a comprehensive and rigorous examination of the contingent valuation method as applied to the profound social problem of biodiversity conservation. The contingent valuation method allows the explicit identification and valuation of the non-use...

In this book, internationally renowned scholars, including two Nobel Laureates, have been drawn together to celebrate Arnold Heertje's rich contribution to the field of economics. Their essays reflect his influence in the areas of economic theory and policy. In particular, they follow in the...

Economic and Monetary Union in Europe brings together contributions from leading specialists which explain and evaluate the most important implications of economic and monetary union. The book examines theoretical aspects of monetary integration, illustrates the historical lessons to be learned...

Monetary History, Exchange Rates and Financial Markets is an impressive collection of original papers in honour of Charles Goodhart's outstanding contribution to monetary economics and policy. Charles Goodhart has written extensively on many of these topics and has become synonymous with his...

Recurrent instability has characterized the global financial system since the 1980s, eventually leading to the current global financial crisis. This instability and the resultant disruptions - sovereign debt defaults, exchange rate misalignments, financial market illiquidity and asset price...