The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set …, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they …’s characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences …

The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set …, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they …’s characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences …

In the last decade, behavioral economics, borrowing from psychology and sociology to explain decisions inconsistent … with traditional economics, has revolutionized the way economists view the world. But despite this general success … interest policymakers, sociologists, and psychologists as well as economists.<p> Contributors include Ian Ayres, B. Douglas …

people find better solutions than brilliant individuals working alone? And why are the best group decisions and predictions …

attention to the inherent limits of economists' knowledge, they introduce a new approach to economic analysis: Imperfect … Knowledge Economics (IKE). IKE rejects exact quantitative predictions of individual decisions and market outcomes in favor of … ground for IKE, this book sheds new light on exchange-rate and risk-premium movements, which have confounded conventional …

Economists seem to be everywhere in the media these days. But what exactly do today's economists do? What and how are … students--the next generation of elite economists--colorfully and frankly describe what they think of their field and what … inside look at the making of economists will interest anyone who wants to better understand the economics profession. …

around the world? This book explains how politics shapes corporate governance--how managers, shareholders, and workers jockey … distinct groups: diffuse shareholding by external investors who pick a board that monitors the managers, and concentrated … blockholding by insiders who monitor managers directly. Examining the political coalitions that form among or across management …

only a textbook but also a useful introduction to laboratory methods for professional economists. The emphasis is on …, bargaining, provision of public goods, experimental games, and decision making under uncertainty. The book also contains …

providing insurance against lifetime uncertainty. The terms of these contracts depend on the information available to insurance …

The standard theory of decision making under uncertainty advises the decision maker to form a statistical model linking … outcomes to decisions and then to choose the optimal distribution of outcomes. This assumes that the decision maker trusts the …