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Institutions, Equilibria and Efficiency: Essays in Honor of Birgit Grodal
Competition and efficiency is at the core of economic theory. This volume collects papers of leading scholars, which extend the conventional general equilibrium model in important ways: Efficiency and price regulation are studied when markets are incomplete and existence of equilibria in such settings is proven under very general preference assumptions. The model is extended to include geographical location choice, a commodity space incorporating manufacturing imprecision and preferences for club-membership, schools and firms.
Foundations for Local Governance : Decentralization in Comparative Perspective
Various forms of decentralization are recently pursued in the world, including developing countries. However, there has not been a coherent framework to access these intended outcomes generated by decentralization measures implemented in Asian and African countries. This book provides such a framework based on comparative analyses of different experiences of decentralization measures in six developing countries, where the policy rationale to “bring services closer to people” originated in different socio-political backgrounds. Although decentralization measures are potentially useful for attaining both political democratization and economic efficiency, what is often packaged under the umbrella of “decentralization” needs to be disaggregated analytically. Successful reforms need coherent approaches in which a range of stakeholders would become willing to share responsibilities and resources in order to achieve the ultimate outcome of poverty reduction in the developing countries.
Economics, Sustainability, and Natural Resources: Economics of Sustainable Forest Management
The economics of sustainability is much more complex than the neoclassical (Newtonian) economic approach to economic efficiency. Forest resources provide the ideal starting point for the economic analysis of sustainability. This book provides a systematic critique of neoclassical economic approaches and their limitations with respect to sustainability. Leading economists from different streams of economics discuss key economic aspects of sustainability and sustainable forest management including complexity, ethical issues, consumer choice theory, intergenerational equity, non-convexities, and multiple equilibria. This is the book which integrates different streams of economics – complexity theory, behavioral economics, post-Keynesian consumer choice theory, social choice theory, and non-convexities – and suggests the main features of Post-Newtonian economics.
Manufacturing Execution Systems - MES
The production plants of today develop into modern service centers. Economic efficiency of modern added value is not a property of products alone but of the process. Decisive potential in business now is a question of process capability, rather than production capability. Process capability in business requires real-time systems for optimization. Business-IT needs to be developed from telecommunications and ERP to real time services, which are not offered by the prevailing ERP systems. Today, only modern Manufacturing Execution Systems (MES) offer real-time applications. They generate current as well as historic mappings of production facilities and thus they can be used as basis for optimizations. It is important to map the supply chain in real time. Increasing complexity in production requires an integrated view of the production and service facilities: detailed scheduling, status collection, quality, performance analysis, tracing of material and so on have to be recorded and displayed in an integrated way.
