Discovering Prices

Download or read book Discovering Prices written by Paul Milgrom and published by Columbia University Press. This book was released on 2017-05-23 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith’s famous concept of an invisible hand, which guides markets and renders regulation or interference largely unnecessary. Yet for many markets, prices alone are not enough to guide feasible and efficient outcomes, and regulation alone is not enough, either. Consider air traffic control at major airports. While prices could encourage airlines to take off and land at less congested times, prices alone do just part of the job; an air traffic control system is still indispensable to avoid disastrous consequences. With just an air traffic controller, however, limited resources can be wasted or poorly used. What’s needed in this and many other real-world cases is an auction system that can effectively reveal prices while still maintaining enough direct control to ensure that complex constraints are satisfied. In Discovering Prices, Paul Milgrom—the world’s most frequently cited academic expert on auction design—describes how auctions can be used to discover prices and guide efficient resource allocations, even when resources are diverse, constraints are critical, and market-clearing prices may not even exist. Economists have long understood that externalities and market power both necessitate market organization. In this book, Milgrom introduces complex constraints as another reason for market design. Both lively and technical, Milgrom roots his new theories in real-world examples (including the ambitious U.S. incentive auction of radio frequencies, whose design he led) and provides economists with crucial new tools for dealing with the world’s growing complex resource-allocation problems.

Download or read book High Price written by Carl Hart and published by Harper Collins. This book was released on 2013-06-11 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: High Price is the harrowing and inspiring memoir of neuroscientist Carl Hart, a man who grew up in one of Miami’s toughest neighborhoods and, determined to make a difference as an adult, tirelessly applies his scientific training to help save real lives. Young Carl didn't see the value of school, studying just enough to keep him on the basketball team. Today, he is a cutting-edge neuroscientist—Columbia University’s first tenured African American professor in the sciences—whose landmark, controversial research is redefining our understanding of addiction. In this provocative and eye-opening memoir, Dr. Carl Hart recalls his journey of self-discovery, how he escaped a life of crime and drugs and avoided becoming one of the crack addicts he now studies. Interweaving past and present, Hart goes beyond the hype as he examines the relationship between drugs and pleasure, choice, and motivation, both in the brain and in society. His findings shed new light on common ideas about race, poverty, and drugs, and explain why current policies are failing.

Download or read book Values-Driven Leadership written by Aubrey Malphurs and published by Baker Books. This book was released on 2004-08-01 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the core values of your ministry? Values-Driven Leadership is a pioneering work designed to help church and parachurch leaders understand the cutting-edge concept of organizational core values. Every ministry organization has a set of core values that guides what the ministry seeks to accomplish. Understanding and implementing these core values is key to a high-performing ministry. In this revised edition, Aubrey Malphurs offers important insights on new research in the field of leadership and delineates techniques for implementing those insights in practical ways. After exploring the concepts in Values-Driven Leadership, you'll be able to take concrete steps to write your ministry's values in a credo or values statement and focus in on your mission. This edition includes - Helpful discussion questions - Core values audits - A readiness-for-change inventory to help you and your ministry identify areas in need of attention - The latest research on values - New insights into the differences between values and beliefs. This is a useful book for individuals, boards, committees, and leadership teams.

Download or read book Market Design written by Guillaume Haeringer and published by MIT Press. This book was released on 2018-03-02 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: A broad overview of market mechanisms, with an emphasis on the interplay between theory and real-life applications; examples range from eBay auctions to school choice. This book offers an introduction to market design, providing students with a broad overview of issues related to the design and analysis of market mechanisms. It defines a market as a demand and a supply, without specifying a price system or mechanism. This allows the text to analyze a broad set of situations—including such unconventional markets as college admissions and organ donation—and forces readers to pay attention to details that might otherwise be overlooked. Students often complain that microeconomics is too abstract and disconnected from reality; the study of market design shows how theory can help solve existing, real-life problems. The book focuses on the interplay between theory and applications. To keep the text as accessible as possible, special effort has been made to minimize formal description of the models while emphasizing the intuitive, with detailed explanations and resolution of examples. Appendixes offer general reviews of elements of game theory and mechanism design that are related to the themes explored in the book, presenting the basic concepts with as many explanations and illustrations as possible. The book covers topics including the basics of simple auctions; eBay auctions; Vickrey–Clarke–Groves auctions; keyword auctions, with examples from Google and Facebook; spectrum auctions; financial markets, with discussions of treasury auctions and IPOs; trading on the stock market; the basic matching model; medical match; assignment problems; probabilistic assignments; school choice; course allocation, with examples from Harvard and Wharton; and kidney exchange.

Download or read book Pivot to the Future written by Omar Abbosh and published by PublicAffairs. This book was released on 2019-04-23 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: The proven, effective strategy for reinventing your business in the age of ever-present disruption Disruption by digital technologies? That's not a new story. But what is new is the "wise pivot," a replicable strategy for harnessing disruption to survive, grow, and be relevant to the future. It's a strategy for perpetual reinvention across the old, now, and new elements of any business. Rapid recent advances in technology are forcing leaders in every business to rethink long-held beliefs about how to adapt to emerging technologies and new markets. What has become abundantly clear: in the digital age, conventional wisdom about business transformation no longer works, if it ever did. Based on Accenture's own experience of reinventing itself in the face of disruption, the company's real world client work, and a rigorous two-year study of thousands of businesses across 30 industries, Pivot to the Future reveals methodical and bold moves for finding and releasing new sources of trapped value-unlocked by bridging the gap between what is technologically possible and how technologies are being used. The freed value enables companies to simultaneously reinvent their legacy, and current and new businesses. Pivot to the Future is for leaders who seek to turn the existential threats of today and tomorrow into sustainable growth, with the courage to understand that a wise pivot strategy is not a one-time event, but a commitment to a future of perpetual reinvention, where one pivot is followed by the next and the next.

Download or read book Life Reimagined written by Richard J. Leider and published by Berrett-Koehler Publishers. This book was released on 2013-10-01 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide to successfully navigating big life changes faced during middle age and later. Are you at a point in your life where you're asking, “What’s next?” You’ve finished one chapter and you have yet to write the next one. Many of us face these transitions at midlife, but they can happen at any point. It’s a time full of enormous potential, and it defines a whole new phase of life. It’s called Life Reimagined. Here is your map to guide you in this new life phase. You can use the powerful practices and insights to help you uncover your own special gifts, connect with people who can support you, and explore new directions. You’ll be inspired by meeting ordinary people who have reimagined their lives in extraordinary ways. You’ll also read the stories of pioneers of the Life Reimagined movement such as Jane Pauley, James Brown, and Emilio Estefan. They show us that this journey of discovery can help us find fulfillment in surprising new places. One of the profound truths that underlies this book is the liberating notion that each of us is “an experiment of one,” free to find our own path in this new phase of our lives. No old rules, no outdated societal norms, no boundaries of convention or expectation. Let Life Reimagined help you discover your new life possibilities! Winner of the 2014 Silver Nautilus Award

Download or read book Putting Auction Theory to Work written by Paul Milgrom and published by Cambridge University Press. This book was released on 2004-01-12 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.