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9780262012058

Economics for an Imperfect World : Essays in Honor of Joseph E. Stiglitz

by
  • ISBN13:

    9780262012058

  • ISBN10:

    0262012057

  • Format: Hardcover
  • Copyright: 2003-11-01
  • Publisher: Mit Pr
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List Price: $13.75

Summary

Throughout Joseph Stiglitz's long and distinguished career in economics, the focus has been on the real world, with all of its imperfections. His 2001 Nobel Prize recognized his pioneering research in imperfect information; his work in other areas, including macroeconomics, public economics, and development economics, has been just as influential. This volume, a collection of essays written to mark Stiglitz's sixtieth birthday, reflects the wide-ranging influence of "Stiglitzian" economics. The many distinguished contributors are his teachers, students, and coauthors; their participation testifies to the personal and professional impact of Joseph Stiglitz's contributions to contemporary economic thought.

Table of Contents

Introductionp. 1
Joseph E. Stiglitz and Economics for an Imperfect Worldp. 3
Imperfect Information
A Small Pearl for Doctor Stiglitz's Sixtieth Birthday: When Risk Averters Positively Relish "Excess Volatility"p. 11
On the Role of Good Faith in Insurance Contractingp. 17
Markets under Stress: The Case of Extreme Event Insurancep. 35
Per-Mile Premiums for Auto Insurancep. 53
Capital Adequacy Regulation: In Search of a Rationalep. 83
Learning Revisitedp. 111
Regulating Nonlinear Environmental Systems under Knightian Uncertaintyp. 127
Conflicting Preferences and Voluntary Restrictions on Choicesp. 145
Punctuality: A Cultural Trait as Equilibriump. 163
A Few Righteous Men: Imperfect Information, Quit-for-Tat, and Critical Mass in the Dynamics of Cooperationp. 183
Market Structure, Organizational Structure, and R&D Diversityp. 195
Patent Oppositionsp. 221
The Economics of Vertical Restraintsp. 247
Macroeconomics, Public Economics, and Development
Stumbling toward a Macroeconomics of the Medium Runp. 271
Waiting for Workp. 283
Welfare Economics in Imperfect Economiesp. 299
Optimality or Sustainability?p. 331
Labor Market Flexibility and the Welfare Statep. 349
The Fiscal Politics of Big Governments: Do Coalitions Matter?p. 367
Indirect Taxation and Redistribution: The Scope of the Atkinson-Stiglitz Theoremp. 387
Optimum Income Taxation When Earnings Are Imperfectly Correlated with Productivityp. 405
Can Government Collect Resources without Hurting Investors? Taxation of Returns from Assetsp. 419
Reforming the Taxation of Human Capital: A Modest Proposal for Promoting Economic Growthp. 439
Birth, Recoveries, Vaccinations, and Externalitiesp. 469
The Road Less Traveled: Oligopoly and Competition Policy in General Equilibriump. 485
Trade, Geography, and Monopolistic Competition: Theory and an Application to Spatial Inequalities in Developing Countriesp. 501
Public Policy for Growth and Poverty Reductionp. 519
Risk, Reform, and Privatizationp. 535
Can Privatization Come Too Soon? Politics after the Big Bang in Post-Communist Societiesp. 549
Appendixp. 567
Information and the Change in the Paradigm in Economicsp. 569
Bibliographyp. 641
Indexp. 683
Table of Contents provided by Publisher. All Rights Reserved.

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