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Sanam: Unrealistic Profits, Unreliable
Results: Rethinking Stockpiling Behavio

Unrealistic Profits, Unreliable Results: Rethinking Stockpiling Behavior in Consumption Tax Models

A collection of eye-opening natural experiments, showing how economists uncover cause-and-effect relationships and reveal insights about our world. Does having a daughter change how a congressperson votes? How did a nineteenth-century doctor help discover germs? Is it better to go first or second in a penalty shootout? Why don’t diplomats pay their parking tickets? Do leaders really matter? These are all questions economists ask. Some of these questions are serious, others less consequential. But all are interesting—and can be answered by way of the natural experiment. A natural experiment is an event in the real world that neatly divides people into a treatment and control group—and it is one of the greatest tools in the economist’s toolkit. In Daughters, Diplomats, and Death, Patrick Gourley discusses why and how economists have leveraged this powerful method to answer questions that were long thought unanswerable. In the vein of Freakonomics, Nudge, and The Tipping Point, the book takes the reader on a lively and engaging tour of some of the most fascinating natural experiments, explaining how they work, how they help social scientists answer questions, and what conclusions they reached. The experiments illuminate a wide range of timely issues in health, education, reproductive issues, and the environment, lending rich and much-needed nuance to the complex debates that shape today’s headlines.

How Economists Use Natural Experiments to Decipher Our World

Daughters, Diplomats, and Death

A fascinating deep dive into the dynamic interplay between culture, economics, institutions, and human prosperity. In Pathway to Change, Naci Mocan investigates the economic origins of current cultural beliefs, attitudes, and behaviors, highlighting the lasting impact of historical agricultural practices and ecological conditions. He shows that cultural traits evolve in response to external shocks—such as exposure to violence, changes in institutional quality, and the laws and law enforcement—and argues that culture and institutions influence each other: culture shapes the functioning of institutions, while institutions also mold cultural norms. As a result, the success of institutional reforms depends heavily on the cultural context in which they are implemented. Drawing on research from various fields—including economics, evolutionary biology, psychology, linguistics, neuroscience, philosophy, anthropology, and political science—the author describes how cultural attributes such as trust, honesty, patience, preference for leisure, morality, individualism, and proclivity for violence shape economic outcomes and individual well-being. The book presents evidence on both intergenerational transmission of culture and horizontal transmission within the members of the same generation. It also describes how culture can be shaped and transformed, emphasizing the roles of media, education, laws and law enforcement, and role models. Finally, the book recommends that undesirable cultural attributes that are detrimental to our well-being, determined by scientific criteria, should be modified, and offers policy tools that can be deployed for cultural change.

Culture, Economics, Human Progress, and Prosperity

Pathway to Change

This book provides essential insights into national income accounting, balance of payments, foreign exchange markets, money supply and demand, and monetary policy principles.Econometrician Edward E. Ghartey begins the book by covering national income accounting and balance of payments. Chapters take readers through the foreign-exchange market and rational expectations, covering functions of money, monetary aggregates, and the determinants of money supply and demand. The text delves into the microeconomic foundations of money demand in developing countries, including an applied study using real data. It addresses the limitations of traditional IS-LM models and introduces a new aggregate demand curve using the Taylor principle. The book further explores the Phillips curve, and Okun’s law to derive aggregate supply curve; and the effects of monetary policy in open economies.Readers will gain a thorough understanding of complex economic concepts and models, including the development of new theoretical frameworks. The book provides practical examples and data analysis, making it a valuable resource for students and professionals seeking to deepen their knowledge of macroeconomics and monetary policy. It also includes discussions on exchange rate regimes, monetary policy interventions, and the role of central banks, offering insights into both theoretical and applied aspects of economics.Edward E. Ghartey
 &nbsp;is Professor Emeritus at The University of West Indies, Mona. His research is focused on macroeconomic issues, including economic policy, exchange rates, inflation, fiscal deficit, and stabilization problems in developing countries.

Exploring Developing Economies

International Macroeconomics and Finance

How to Win a Trade War

Translational Systems Sciences

This book is an ambitious research work that incorporates recent findings on communication and knowledge in organizations and includes contributions from global researchers. It brings together researchers from various countries who are active in this field and describes research on communication and knowledge that considers the development of ICT under the positivist paradigm (Part I) as well as research on communication and knowledge that focuses on language under the interpretivist paradigm (Part II). By approaching research on communication and knowledge in organizations using these two paradigms, this book presents a clear and energetic overview of the characteristics of both.

Approaches from Positivist and Interpretivist Paradigms

Communication and Knowledge in Organizations

The Role of Defensive Expectations

The Human Nature of Inflation

Ökonomie der Versöhnung

A provocative exposé of how our attention, behavior, and desires have been co-opted by the “choice box”—a curated set of options that offer a false sense of agency while funneling us down pre-determined paths controlled by a select few Choice boxes are all around us, but chances are you’ve never noticed them. Every time you click on a recommended video, rate an Uber driver, run a Google search, or invest in your 401k, you may think you’re the one calling the shots—but in reality, you’re limited to making the choices that a corporation wants you to make. Today, structured decision-making governs our lives to such an extent that we hardly see it at all. But who designs these choices, and whose interests do they serve? In Choose Your Own Captivity, historian Eli Cook introduces readers to the choice architects who first built these boxes and trapped us inside—from the maze-building eugenicist who invented the multiple-choice test to the marketing gurus who sold off our supermarket shelves to a few ultra-processed food giants. In less than a generation, architects like these have transformed a handful of online platforms into the richest businesses in the world. And by determining our options, controlling our actions, and even shaping our identities, they have laid the groundwork&nbsp;for the winner-takes-all game of digital capitalism that dominates us today. In a society built around the promise of free choice and personal responsibility, Cook argues, these hidden architects might just have the greatest power of all. A propulsive and vivid history, Choose Your Own Captivity opens readers’ eyes to the immense power of the choice box—and how to escape it.

How Corporations Built Our Choices and Sold Our Freedom

Choose Your Own Captivity

Palgrave Studies in Public Debt, Spending, and Revenue

This book examines the interplay of professional norms and political accountability in the process of making decisions about whether, how, and how much debt state and local governments should incur. The careful analysis of accountability in actual decisions, focusing particularly on whether and how individual and collective decision-making behavior responds to general (stipulated) norms and situational (negotiated) expectations in their broader social contexts, is a familiar approach in the study of management and public organizations generally, but has not been extensively applied to this area of public financial decision making. Political economists, especially those identified with the public-choice approach, have done extensive macro-level normative and theoretical analysis of public debt, but not in an empirically rich fashion. This book therefore constitutes a missing link that uses analyses of selected cases to advance conceptual understandings of organizational accountability spaces in general, and decisions to incur public indebtedness and the implications of those decisions specifically, by examining the intersection of the macro, meso, and micro levels of expectations for and practices of public financial decision making.

Unrealistic Profits, Unreliable Results: Rethinking Stockpiling Behavior in Consumption Tax Models

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