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Economics, Mathematical --- Brownian motion processes --- 330.0151 --- Wiener processes --- Brownian movements --- Fluctuations (Physics) --- Markov processes --- Economics --- Mathematical economics --- Econometrics --- Mathematics --- Methodology --- Brownian motion processes. --- Economics, Mathematical. --- Mathématiques économiques --- Mouvement brownien, processus de --- Probabilités

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How can property rights be protected and contracts be enforced in countries where the rule of law is ineffective or absent? How can firms from advanced market economies do business in such circumstances? In Lawlessness and Economics, Avinash Dixit examines the theory of private institutions that transcend or supplement weak economic governance from the state. In much of the world and through much of history, private mechanisms--such as long-term relationships, arbitration, social networks to disseminate information and norms to impose sanctions, and for-profit enforcement services--have grown up in place of formal, state-governed institutions. Even in countries with strong legal systems, many of these mechanisms continue under the shadow of the law. Numerous case studies and empirical investigations have demonstrated the variety, importance, and merits, and drawbacks of such institutions. This book builds on these studies and constructs a toolkit of theoretical models to analyze them. The models shed new conceptual light on the different modes of governance, and deepen our understanding of the interaction of the alternative institutions with each other and with the government's law. For example, one model explains the limit on the size of social networks and illuminates problems in the transition to more formal legal systems as economies grow beyond this limit. Other models explain why for-profit enforcement is inefficient. The models also help us understand why state law dovetails with some non-state institutions and collides with others. This can help less-developed countries and transition economies devise better processes for the introduction or reform of their formal legal systems.

Economic policy --- Corporate governance --- Contracts --- Right of property --- Corporation law --- Business enterprises --- International Cooperation --- Law and legislation --- Developing countries --- Contracts. --- Corporate governance. --- Corporation law. --- Economic policy. --- International cooperation. --- Right of property. --- Law and legislation. --- Economic analysis of law --- Economic order --- Politique économique --- Gouvernement d'entreprise --- Contrats --- Droit de propriété --- Sociétés --- Entreprises --- Coopération internationale --- Droit --- Pays en développement --- Business organizations --- Businesses --- Companies --- Enterprises --- Firms --- Organizations, Business --- Business --- Company law --- Corporate law --- Corporations --- Law, Corporation --- Trusts, Industrial --- Commercial law --- Ownership of property --- Private ownership of property, Right of --- Private property, Right of --- Property, Right of --- Property rights --- Right of private ownership of property --- Right of private property --- Right to property --- Civil rights --- Property --- Agreements --- Contract law --- Contractual limitations --- Limitations, Contractual --- Legal instruments --- Obligations (Law) --- Juristic acts --- Liberty of contract --- Third parties (Law) --- Governance, Corporate --- Industrial management --- Directors of corporations --- Cooperation, International --- Global governance --- Institutions, International --- Interdependence of nations --- International institutions --- World order --- Cooperation --- International relations --- International organization --- Economic nationalism --- Economic planning --- National planning --- State planning --- Economics --- Planning --- National security --- Social policy --- Law --- International cooperation --- 330.1 --- Ea1 --- 330.52 --- AA / International- internationaal --- 338.22 --- 338.22 Economische organisatieleer. Economisch beleid. Economische politiek --- Economische organisatieleer. Economisch beleid. Economische politiek --- Liberaal systeem. Neo-liberalisme. Theorie van de onderhandeling --- Business enterprises - Law and legislation --- Corporate governance - Developing countries --- Contracts - Developing countries --- Right of property - Developing countries --- Corporation law - Developing countries --- Business enterprises - Law and legislation - Developing countries --- Developing countries - Economic policy

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This book expounds trade theory emphasizing that a trading equilibrium is general rather than partial, and is often best modelled using dual or envelope functions. This yields a compact treatment of standard theory, clarifies some errors and confusions, and produces some new departures. In particular, the book (i) gives unified treatments of comparative statics and welfare, (ii) sheds new light on the factor-price equalization issue, (iii) treats the modern specific-factor model in parallel with the usual Heckscher-Ohlin one, (iv) analyses the balance of payments in general equilibrium with flexible and fixed prices, (v) studies imperfect competition and intra-industry trade.

International trade --- Mathematical models. --- 339.5 --- AA / International- internationaal --- 382.10 --- Buitenlandse handel. Internationale handel. Ruilvoet --- Theorieën van internationale en interregionale handel: algemeenheden. Comparatieve voordelen --- 339.5 Buitenlandse handel. Internationale handel. Ruilvoet --- Mathematical models --- International economic relations --- Economics --- Equilibrium (Economics) --- Economie politique --- Equilibre (Economie politique) --- Relations économiques internationales --- Business, Economy and Management --- International trade - Mathematical models