Monopsony in motion Manning, Alan; Manning, Alan
2003., 20131203, 2013, 2003, 2003-01-01, 20030101
eBook
What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to ...the standard model of perfect competition.Monopsony in Motionstands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption.
The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the "free" market can no longer be sustained as an ideal and labor economists need to be more open-minded in their evaluation of labor market policies.Monopsony in Motionwill represent for some a new fundamental text in the advanced study of labor economics, and for others, an invaluable alternative perspective that henceforth must be taken into account in any serious consideration of the subject.
Many historical processes exhibit recurrent patterns of change. Century-long periods of population expansion come before long periods of stagnation and decline; the dynamics of prices mirror ...population oscillations; and states go through strong expansionist phases followed by periods of state failure, endemic sociopolitical instability, and territorial loss. Peter Turchin and Sergey Nefedov explore the dynamics and causal connections between such demographic, economic, and political variables in agrarian societies and offer detailed explanations for these long-term oscillations--what the authors call secular cycles.
The field of financial mathematics has developed tremendously over the past thirty years, and the underlying models that have taken shape in interest rate markets and bond markets, being much richer ...in structure than equity-derivative models, are particularly fascinating and complex. This book introduces the tools required for the arbitrage-free modelling of the dynamics of these markets. Andrew Cairns addresses not only seminal works but also modern developments. Refreshingly broad in scope, covering numerical methods, credit risk, and descriptive models, and with an approachable sequence of opening chapters, Interest Rate Models will make readers--be they graduate students, academics, or practitioners--confident enough to develop their own interest rate models or to price nonstandard derivatives using existing models.
The mathematical chapters begin with the simple binomial model that introduces many core ideas. But the main chapters work their way systematically through all of the main developments in continuous-time interest rate modelling. The book describes fully the broad range of approaches to interest rate modelling: short-rate models, no-arbitrage models, the Heath-Jarrow-Morton framework, multifactor models, forward measures, positive-interest models, and market models. Later chapters cover some related topics, including numerical methods, credit risk, and model calibration. Significantly, the book develops the martingale approach to bond pricing in detail, concentrating on risk-neutral pricing, before later exploring recent advances in interest rate modelling where different pricing measures are important.
The Physics of Foraging Viswanathan, Gandhimohan. M.; da Luz, Marcos G. E.; Raposo, Ernesto P. ...
06/2011
eBook, Book
Do the movements of animals, including humans, follow patterns that can be described quantitatively by simple laws of motion? If so, then why? These questions have attracted the attention of ...scientists in many disciplines, and stimulated debates ranging from ecological matters to queries such as 'how can there be free will if one follows a law of motion?' This is the first book on this rapidly evolving subject, introducing random searches and foraging in a way that can be understood by readers without a previous background on the subject. It reviews theory as well as experiment, addresses open problems and perspectives, and discusses applications ranging from the colonization of Madagascar by Austronesians to the diffusion of genetically modified crops. The book will interest physicists working in the field of anomalous diffusion and movement ecology as well as ecologists already familiar with the concepts and methods of statistical physics.
The book describes an integrated theory that links estuary shape to tidal hydraulics, tidal mixing and salt intrusion. The shape of an alluvial estuary is characterised by exponentially varying width ...and the absence of bottom slope. This topography is closely related to tidal parameters, hydraulic parameters and parameters that describe 1-dimensional mixing and salt intrusion. Starting from the fundamental equations for conservation of mass and momentum, analytical equations are derived that relate the topography to tidal parameters (tidal excursion, phase lag, tidal damping, tidal amplification), wave celerity, lateral and vertical mixing and salt intrusion. The book presents a review of the state of the art, a comprehensive theoretical background and ample case illustrations from all over the world. It provides tools with which human interference in estuary dynamics can be described and predicted, resulting from, for instance: upstream fresh water abstraction, dredging, climate change or sea-level rise. In describing the interactions between tide, topography, water quality and river discharge, it provides useful information for hydraulic engineers, morphologists, ecologists and people concerned with water quality in alluvial estuaries. Although the book can be used as a text book, it is mainly a monograph aimed at graduate students and researchers.* Provides new integrated theory for tidal hydraulics, tidal mixing and salt intrusion in alluvial estuaries * Presents a consistent set of analytical equations to compute tidal movement, tidal mixing and salt intrusion, derived from the fundamental laws of conservation of mass and momentum * Serves as a practical guide with many illustrations of applications in real estuaries
This book provides a comprehensive and systematic approach to understanding GARCH time series models and their applications whilst presenting the most advanced results concerning the theory and ...practical aspects of GARCH. The probability structure of standard GARCH models is studied in detail as well as statistical inference such as identification, estimation and tests. The book also provides coverage of several extensions such as asymmetric and multivariate models and looks at financial applications.Key features:Provides up-to-date coverage of the current research in the probability, statistics and econometric theory of GARCH models.Numerous illustrations and applications to real financial series are provided.Supporting website featuring R codes, Fortran programs and data sets.Presents a large collection of problems and exercises.This authoritative, state-of-the-art reference is ideal for graduate students, researchers and practitioners in business and finance seeking to broaden their skills of understanding of econometric time series models.
Research on the spatial aspects of economic activity has flourished over the past decade due to the emergence of new theory, new data, and an intense interest on the part of policymakers, especially ...in Europe but increasingly in North America and elsewhere as well. However, these efforts--collectively known as the "new economic geography"--have devoted little attention to the policy implications of the new theory.
Mathematical modeling is critical to our understanding of how infectious diseases spread at the individual and population levels. This book gives readers the necessary skills to correctly formulate ...and analyze mathematical models in infectious disease epidemiology, and is the first treatment of the subject to integrate deterministic and stochastic models and methods.
Mathematical Tools for Understanding Infectious Disease Dynamicsfully explains how to translate biological assumptions into mathematics to construct useful and consistent models, and how to use the biological interpretation and mathematical reasoning to analyze these models. It shows how to relate models to data through statistical inference, and how to gain important insights into infectious disease dynamics by translating mathematical results back to biology. This comprehensive and accessible book also features numerous detailed exercises throughout; full elaborations to all exercises are provided.
Covers the latest research in mathematical modeling of infectious disease epidemiologyIntegrates deterministic and stochastic approachesTeaches skills in model construction, analysis, inference, and interpretationFeatures numerous exercises and their detailed elaborationsMotivated by real-world applications throughout
Everyday we face decisions that carry an element of risk and uncertainty. The ability to analyze, predict, and prepare for the level of risk entailed by these decisions is, therefore, one of the most ...constant and vital skills needed for analysts, scientists and managers. Risk analysis can be defined as a systematic use of information to identify hazards, threats and opportunities, as well as their causes and consequences, and then express risk. In order to successfully develop such a systematic use of information, those analyzing the risk need to understand the fundamental concepts of risk analysis and be proficient in a variety of methods and techniques. Risk Analysis adopts a practical, predictive approach and guides the reader through a number of applications. Risk Analysis: Provides an accessible and concise guide to performing risk analysis in a wide variety of fields, with minimal prior knowledge required. Adopts a broad perspective on risk, with focus on predictions and highlighting uncertainties beyond expected values and probabilities, allowing a more flexible approach than traditional statistical analysis. Acknowledges that expected values and probabilities could produce poor predictions - surprises may occur. Emphasizes the planning and use of risk analyses, rather than just the risk analysis methods and techniques, including the statistical analysis tools. Features many real-life case studies from a variety of applications and practical industry problems, including areas such as security, business and economy, transport, oil & gas and ICT (Information and Communication Technology). Forms an ideal companion volume to Aven's previous Wiley text Foundations of Risk Analysis. Professor Aven's previous book Foundations of Risk Analysis presented and discussed several risk analysis approaches and recommended a predictive approach. This new
text expands upon this predictive approach, exploring further the risk analysis principles, concepts, methods and models in an applied format. This book provides a useful and practical guide to decision-making, aimed at professionals within the risk analysis and risk management field.
Mechanistic home range analysis Moorcroft, Paul; Lewis, Mark A
2006, 2006., 20131031, 2013, 2006-01-01, Volume:
43
eBook, Book
Spatial patterns of movement are fundamental to the ecology of animal populations, influencing their social organization, mating systems, demography, and the spatial distribution of prey and ...competitors. However, our ability to understand the causes and consequences of animal home range patterns has been limited by the descriptive nature of the statistical models used to analyze them. InMechanistic Home Range Analysis, Paul Moorcroft and Mark Lewis develop a radically new framework for studying animal home range patterns based on the analysis of correlated random work models for individual movement behavior. They use this framework to develop a series of mechanistic home range models for carnivore populations.
The authors' analysis illustrates how, in contrast to traditional statistical home range models that merely describe pattern, mechanistic home range models can be used to discover the underlying ecological determinants of home range patterns observed in populations, make accurate predictions about how spatial distributions of home ranges will change following environmental or demographic disturbance, and analyze the functional significance of the movement strategies of individuals that give rise to observed patterns of space use.
By providing researchers and graduate students of ecology and wildlife biology with a more illuminating way to analyze animal movement,Mechanistic Home Range Analysiswill be an indispensable reference for years to come.
