This book is Volume I of a two-volume set on antitrust policy, analyzing the economic efficiency and moral desirability of various tests for antitrust legality, including those promulgated by US and EU antitrust law. The overall study consists of three parts. Part I (Chapters 1-8) introduces...

Die Soziale Marktwirtschaft war nach dem 2. Weltkrieg die Grundlage für den Wirtschaftsaufschwung und das Wirtschaftswunder in Deutschland. Sie ist heute als Wirtschaftsmodell weltweit anerkannt und erfolgreich. 70 Jahre später ist die Welt jedoch eine andere. Globalisierung, Digitalisierung,...

This book develops John Rawls’s theory of justice by adding reality-based analyses. This is accomplished by answering the question of who makes rules and how, and by providing new answers to three of today’s most practical and critical issues. The question of who and how makes rules is...

This book provides a study of the forces underlying the development of economic thought at Cambridge University during the late nineteenth century and the first half of the twentieth century. The primary lens it uses to do so is an examination of how Arthur Cecil Pigou’s thinking, heavily...

In Lieu of an Introduction: How I Remember Leonid Hurwicz -- Institution Design: Technical Change and the Decentralization Penalty -- Fundamental Theory of Institutions: a Lecture in Honor of Leo Hurwicz -- The Hurwicz Program, Past and Suggestions for the Future -- Social Networks from a...

Part 1. Introduction -- Chapter 1. The Relevance of Richard Easterlin’s Groundbreaking Work. A Historical Perspective (Mariano Rojas) -- Part 2. Income and Happiness -- Chapter 2. The Easterlin Paradox Revisited: Who is Right? (Maarten Vendrik) -- Chapter 3. Relative Income, Subjective...

Introduction to The General Theory of Second Best, Its Central Implications, and the Appropriate Way to Respond to It -- The Economics Profession’s Responses to The General Theory of Second Best: Descriptions and Critiques -- The Concept of “the Impact of a Choice (or Natural Event) on...

1. Introduction -- 2. Current state of understanding: What does economics say about the economic elite? -- 3. Wealth’s vista. Trends in Wealth and the Rise of the Billionaire -- 4. The Rise of the Dual Economy – Wealth and Inequality -- 5. Sources of Great Fortunes in the World -- 6. Conclusion.

Introduction -- Part I: First Lessons -- Measuring Happiness -- Does Money Make People Happy? -- How Does Health Affect Happiness? -- Family Life and Happiness -- How Can I Increase My Happiness? -- Part II: Next Lessons -- Can Government Increase My Happiness: Transition Countries -- Can...

A Brief History of Social Choice and Welfare Theory -- Kenneth J. Arrow -- John C. Harsanyi -- Paul A. Samuelson -- Amartya K. Sen -- Salvador Barberà -- John Broome -- Gabrielle Demange -- David Donaldson -- Peter C. Fishburn -- Allan Gibbard -- Peter J. Hammond -- Prasanta K. Pattanaik --...