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137169 results in Economics

Page 2 of 6859

The Price of Happiness
  • Behavioral Economics and Willingness to Pay
  • Cass R. Sunstein
  • Coming soon
  • Expected online publication date:
    August 2026
    Print publication:
    31 August 2026
  • People often 'miswant.' They buy goods that do not make them happy and refuse to buy goods that would make their lives better. In The Price of Happiness, Cass R. Sunstein focuses on people's 'willingness to pay,' which is the foundation for free markets. He argues that willingness to pay deserves respect, and high honors in the annals of history, when buyers know what they are getting. It's when buyers lack information, or suffer from behavioral biases, that they might miswant. Special conundrums also arise when we try to monetize goods we don't normally consider in monetary terms, like pristine areas, human dignity, and social media. Exploring behavioral biases and their effect on human welfare, Sunstein shows how behavioral economics can be used to increase human happiness.
Understanding the Dynamics of Inequality for Growth and Development

Understanding the Dynamics of Inequality for Growth and Development
  • Sanghamitra Bandyopadhyay
  • Coming soon
  • Expected online publication date:
    August 2026
    Print publication:
    31 August 2026
  • Inequality and its evolution over time are increasingly important subjects within the social sciences, particularly in the field of political economy. This Element identifies for the first time which inequality measures are best suited to capture the dynamics of inequality. The author generates a dataset of twelve types of inequality measures for 108 years across 34 countries using mortality distributions. When modelling inequality as a fractionally integrated process and using a Vector Autoregression approach, they find that mean-independent inequality measures are more suited to dynamic studies. In contrast, however, mean-dependent measures are unsuitable for dynamic studies. They suggest that no inequality measure should be used for dynamic purposes without rigorously testing its suitability. Tests of temporal normality and volatility serve as excellent "marker" tests of whether a chosen inequality measure is suitable for dynamic contexts. This title is also available as Open Access on Cambridge Core.

Does Court-Ordered Community Service Work?
  • Evidence from a Case Study
  • Rebecca Nesbit, Su Young Choi, Jody Clay-Warner
  • Coming soon
  • Expected online publication date:
    August 2026
    Print publication:
    31 August 2026
  • Based on interviews with thirty-one managers in community organizations and thirty-four court-ordered community service workers (CSWs) in Georgia, this Element asks whether community service programs are likely to achieve their stated goals of restitution, cost savings, and rehabilitation and what conditions support or undermine success. While some individuals perceive a benefit, these programs often shift costs to under-resourced nonprofits, impose administrative burdens, and fail to foster meaningful community connection or long-term rehabilitative outcomes. The Element indicates that cost savings are illusory, restitution is weakened by supervision demands, and rehabilitation is inconsistent across participants. For community service to realize its restorative potential, it must be restructured across the criminal legal system with attention to organizational capacity, both of probation offices and the community organizations working with CSWs. This title is also available as Open Access on Cambridge Core.

Financial Enterprise Risk Management
  • 3rd edition
  • Paul Sweeting
  • Coming soon
  • Expected online publication date:
    August 2026
    Print publication:
    31 August 2026
  • This comprehensive yet accessible guide to enterprise risk management for financial institutions contains all the tools needed to build and maintain an ERM framework. It discusses the internal and external contexts within which risk management must be carried out, and it covers a range of qualitative and quantitative techniques that can be used to identify, model and measure risks. This third edition has been thoroughly revised and updated to reflect new regulations and legislation. It includes additional detail on machine learning, a new section on vine copulas, and significantly expanded information on sustainability. A range of new case studies include Theranos and FTX. Suitable as a course book or for self-study, this book forms part of the core reading for the Institute and Faculty of Actuaries' examination in enterprise risk management.
Making Sense of Economic Change

Making Sense of Economic Change
  • Intentionality, Action Plans, and Evolution
  • Félix-Fernando Muñoz
  • Coming soon
  • Expected online publication date:
    July 2026
    Print publication:
    31 August 2026
  • Intentionality is a key constituent of human action in a world of pervasive uncertainty and provisional knowledge. Intentionality provides meaning to the action plans of the agents that interact within a socioeconomic system. Social interaction produces orders that, although more than the sum of individual actions, acquire direction imprinted by the intentional content and structure of the courses of action of the individuals and organizations that interact within the system. Although many of the consequences of interaction may be unintended and even opposite to agents' intentions, the evolution of the system is not entirely blind. Explaining why and how this can be so is the purpose of this Element.
Administration and Human Rights

Administration and Human Rights

The Financial Drivers of Populism in Europe
  • Luigi Guiso, Massimo Morelli, Tommaso Sonno, Helios Herrera
  • Coming soon
  • Expected online publication date:
    July 2026
    Print publication:
    31 July 2026
  • This Element argues that the 2008 financial crisis marked a turning point for populism in Europe by extending economic insecurity to the middle class. As insecurity spread, trust in institutions and markets declined, bringing a large new group of disillusioned voters into the political arena. The authors show that this expansion of middle-class anxiety accounts for a substantial share of the rise in populist voting. The political impact was strongest in countries with limited fiscal space, where governments lacked credible tools to cushion economic losses. As voters' demand for protection grew, both new and established parties adjusted their platforms, with populist and protectionist positions becoming more prominent. Using a novel empirical strategy based on differences in occupational exposure to financial constraints, the authors identify the causal effect of crisis-driven insecurity and explain why populism has persisted in European politics. This title is also available as Open Access on Cambridge Core.

Tools of Trust
  • Business Forecasting in the Twentieth Century
  • Laetitia Lenel
  • Coming soon
  • Expected online publication date:
    July 2026
    Print publication:
    31 July 2026
  • How is it possible that economists generally fail to foresee recession, yet forecasting has never lost its appeal and importance? Using a combination of published scientific and technical literature, newspaper articles as well as archival material from thirty-three research sites in six countries, Tools of Trust looks for an answer to this question. It tells the history of business forecasting in the twentieth century, tracing the emergence and fundamental transformations of forecasting techniques and their role in economic and political decision-making. It investigates how the role of business forecasting has changed and how this has transformed economic and political decision-making. Offering a nuanced understanding of the crucial role forecasting plays in managing economic uncertainty, this book examines how unforeseen economic crises have paradoxically reinforced the importance of forecasting, turning it into an indispensable tool to reduce economic uncertainty and stabilize the capitalist order.

Dig, Baby, Dig!

Macroeconomic Modeling
  • A Gentle Introduction to DSGE Models
  • Mario Solis-Garcia
  • Coming soon
  • Expected online publication date:
    July 2026
    Print publication:
    31 July 2026
  • Bridging the gap between undergraduate and graduate macroeconomics, this book approaches DSGE models from a unified perspective based on the concept of competitive equilibrium (CE) and the equivalent social planner problem (SPP). Equilibrium conditions derived from a CE are used to motivate the methods that solve the models. A guided focus on Dynare enables students to solve problems while avoiding the typical pitfalls associated with the software. The approach is 'we have a need and here's a tool that solves it' instead of 'here's a tool and let's look for an application.' It is consistent with current practices: define an equilibrium, characterize its solution, find its steady state, approximate the equilibrium conditions, and solve for its policy functions. This book is for the student who wants to follow current macroeconomic research and build on that to gain a competitive edge in creating and solving empirical models with real-world applicability.

Jobless Growth and the New Great Transformation
  • A Data Driven Analysis
  • Mauro Gallegati, Enzo Valentini, Fabiano Compagnucci, Andrea Gentili
  • Coming soon
  • Expected online publication date:
    July 2026
    Print publication:
    31 July 2026
  • Technological change and innovation have long fueled economic growth and employment. Yet, in recent decades, productivity gains have increasingly failed to translate into more jobs and higher wages. Jobless Growth and the New Great Transformation investigates this apparent paradox, by examining the theoretical and empirical evidence about the relationship between innovation and structural change. It combines rigorous and cutting-edge data analysis with EU case studies to reveal how recent technological breakthroughs, far from driving shared prosperity, have slowed growth, widened spatial divides and fueled societal polarization, partly due to excessive confidence in market deregulation. Drawing on data-driven analyses, the book explains why impacts of innovation vary so widely between regions and how history, institutions, and policy-not just market forces-determine who benefits from technological advances and who is left behind.

Why Europe?
  • The Great Divergence and the West's Rise to Global Predominance
  • Philip T. Hoffman
  • Coming soon
  • Expected online publication date:
    July 2026
    Print publication:
    31 July 2026
  • Economic growth transformed the world. It freed us from a world where nearly everyone was mired in poverty and half of all children died before reaching adulthood. However, these benefits have not been felt everywhere, nor by everyone. In this groundbreaking new account of the divergence between east and west, Philip T. Hoffman uncovers the ultimate causes of economic growth and the reasons why it originated in seventeenth-century western Europe. He examines the relative impacts of a wide range of economic, political, and social factors, from high wages, cheap capital, and financial institutions to political fragmentation, porous borders, and interstate warfare. Through accessible economic principles and fascinating case studies, he demonstrates why growth began in Britain, why it spread so unevenly elsewhere, and why inequality inhibits growth.

Enterprise and Integration
  • Big Business and the Making of the Single European Market
  • Grace Ballor
  • Coming soon
  • Expected online publication date:
    July 2026
    Print publication:
    31 July 2026
  • In post-Brexit Europe, it has never been more important to understand who benefits from the European Union and its Single Market. In this innovative approach to the history of European integration, Grace Ballor reconstructs the creation of the Single Market in the 1980s and 1990s through the lens of multinational business. She both shows how policymakers viewed big business as an ally in market integration and uncovers the diverse responses of European companies, ranging from enthusiastic support for the market to opposition to its attendant social and environmental policies. Drawing on institutional and corporate archives and interviews with key policymakers and business leaders, Ballor demonstrates how businesses adapted their strategies to the new realities of integration and how these adaptations in turn shaped international markets. This is essential reading for anyone wishing to make sense of contemporary European economics and the complex relationships between business and policymaking, economy and society.
The Mathematisation of Economics

The Mathematisation of Economics
  • A Twentieth-Century History
  • Marcel Boumans
  • Coming soon
  • Expected online publication date:
    July 2026
    Print publication:
    31 July 2026

Governing Corporate Knowledge Commons
  • Edited by David Gindis
  • Coming soon
  • Expected online publication date:
    July 2026
    Print publication:
    31 July 2026
  • Human interactions, in any group or social setting, rely on and generate shared knowledge and social understandings. These shared intellectual resources are just as important to the efficient operation of markets and organizations as are their shared legal and material infrastructures. Governing Corporate Knowledge Commons focuses on the formal and informal arrangements that govern the creation and community management of intellectual resources within and across organizational boundaries. It demonstrates how the Governing Knowledge Commons (GKC) framework can be fruitfully combined with existing theoretical work on firms and corporate governance found in economics, management, and sociology. The volume also proposes a new set of case studies, ranging from old industrial enterprises to modern venture capital, investor alliances, and decentralized autonomous organizations. Chapters explore the benefits of participatory approaches to the management of genomic or financial data, online gaming communities, and organic waste. This title is also available as open access on Cambridge Core.

  • 3 - Thinking Like an Economist and Brexit

  • Beatrice Magistro, Northeastern University
  • Book:
    Who Thinks Like an Economist?
    Published online:
    11 May 2026
    Print publication:
    25 June 2026, pp 54-68

  • Summary

    Chapter 3 examines how the Economist Mental Model (EMM) influenced voting behavior in the 2016 Brexit referendum. Using British Election Study data, the chapter shows that individuals with higher economic knowledge – a proxy for the EMM – were 11 percentage points more likely to vote than those with lower economic knowledge – a proxy for Alternative Mental Models. The effect of economic knowledge on Brexit preferences is comparable in size to established predictors like income and regional exposure to globalization, underscoring its importance. Robustness checks confirm the relationship remains strong after accounting for media consumption patterns. Moreover, EMM-oriented individuals also favor other welfare-enhancing policies, such as free trade and immigration, yet do not differ from others on noneconomic social issues like LGBTQ+ rights. Thus, economic reasoning specifically shapes economic policy preferences, rather than reflecting broader ideological leanings.

  • 5 - Thinking Like an Economist and Time Preferences

  • Beatrice Magistro, Northeastern University
  • Book:
    Who Thinks Like an Economist?
    Published online:
    11 May 2026
    Print publication:
    25 June 2026, pp 91-100

  • Summary

    Chapter 5 investigates whether learning economic concepts can make people more patient, rather than simply attracting already patient students to economics. Building on the link between economic knowledge and lower discount rates identified in Chapter 4, it proposes that understanding ideas like compound interest and the time value of money reduces subjective discount rates (SDRs), fostering greater willingness to accept short-term costs for future benefits. Using a classroom experiment at the University of Washington, the chapter finds that undergraduates who received economics instruction had significantly lower SDRs by the semester’s end, while those enrolled in political science classes showed no similar change. Furthermore, both groups exhibited comparable SDRs at the start, ruling out self-selection of inherently more patient individuals into economics. These findings underscore a causal relationship between economic education and time preferences, with implications for public policy and intertemporal decision-making on issues ranging from retirement planning to climate change.

Page 2 of 6859