Inframarginal Economics
Inframarginal Economics

Author: Xiaokai Yang

Publisher: World Scientific

Published: 2009

Total Pages: 924

ISBN-13: 9812389288

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This monograph resurrects the spirit of classical economic thinking on network effects of division of labor and general equilibrium mechanisms that simultaneously determine the interdependent benefits of specialization and the number of participants in the network of division of labor (extent of the market) in a modern body of inframarginal economics. Inframarginal economics applies inframarginal analysis (nonclassical mathematical programming which allows corner solution) to studies of network effects of division of labor, individuals' networking decisions in choosing their levels of specialization, mechanisms that endogenously determine the network size and pattern of division of labor, increasing returns, and the relationship between transaction costs, evolution in institutions, property rights, contracts, organization, and the network size and pattern of division of labor. Here, inframarginal analysis is total cost-benefit analysis across different network patterns of trade and division of labor in addition to marginal analysis of resource allocation for a given pattern of organization. It provides an overarching framework that encompasses many areas of the discipline that have customarily been treated as separate branches. These include microeconomics, macroeconomics, development economics, international economics, urban economics, growth theory, industrial organization. applications of game theory in economics, economics of property rights, economics of transaction costs, economics of institutions and contracts, economics of organization, managerial economics, theory of hierarchy, new theory of the firm, theory of money, theory of insurance, theory of the network and reliability, and so on.

Inframarginal Contributions To Development Economics
Inframarginal Contributions To Development Economics

Author: Christis G Tombazos

Publisher: World Scientific

Published: 2006-10-09

Total Pages: 564

ISBN-13: 9814478601

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The core of classical economic analysis represented by William Petty and Adam Smith concentrated on the field of development economics. This classical footing of the study of development is different from the neoclassical perspective in two important respects: (a) it focuses on division of labor as the driving force of development, and (b) it emphasizes the role of the market (the “invisible hand”) in exploiting productivity gains that are derived from division of labor. However these aspects have received little attention in the body of literature that represents the modern field of development economics — which largely represents the neoclassical application of marginalism. A notable exception is research that utilizes inframarginal analysis of individuals' networking decisions in an attempt to formalize the classical mechanisms that drive division of labor. This book is a first attempt to collect relevant key contributions and is intended for active researchers in the field of development economics.

Inframarginal Economics
Inframarginal Economics

Author: Xiaokai Yang

Publisher: World Scientific

Published: 2009

Total Pages: 924

ISBN-13: 9812837922

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This research monograph provides systematic and comprehensive materials for applying inframarginal analysis to study a wide range of economic phenomena. The analysis is based on a new overarching framework to resurrect the classical notion of division of labor and specialization, which is an essential source of increasing a nation''s wealth. The framework absorbs many classical and neo-classical insights in a general equilibrium analysis and explains many micro- and macro-phenomena. Many areas of the discipline that have been customarily treated as separate branches can now be analyzed systematically within this integrated framework. These include, for example, micro-economics; macro-economics; development economics; international economics; urban economics; growth theory; industrial organization; applications of game theory in economics; economics of property rights; economics of transaction costs; economics of institutions and contract; economics of organization; economics of states; managerial economics; theory of hierarchy; new theory of the firm; theory of money; theory of insurance; theory of network and reliability.

An Inframarginal Approach To Trade Theory
An Inframarginal Approach To Trade Theory

Author: Xiaokai Yang

Publisher: World Scientific

Published: 2005-03-08

Total Pages: 539

ISBN-13: 9814482226

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Inframarginal analysis represents a methodology that extends marginal analysis, using non-classical mathematical programming, in efforts to investigate corner solutions and indivisibilities. As such this approach has been used to reintroduce classical insights regarding the division of labor and economic organization to the mainstream of economic inquiry. One of the most prolific and useful relevant applications of inframarginal analysis concerns the area of international trade theory. The ensuing field of study has attracted considerable — and rapidly expanding — interest in recent years. Yet, little has been done by way of organizing the accumulated knowledge in a single volume. This book fills that gap by collecting key articles that mark distinct stages in the evolution of research in the area of inframarginal applications to trade theory. In this context the volume represents an excellent introduction of this novel and exciting field of study to the new researcher, and an invaluable source of reference to those seasoned in inframarginal applications to trade theory.

The Economics of E-Commerce and Networking Decisions
The Economics of E-Commerce and Networking Decisions

Author: Y. Ng

Publisher: Springer

Published: 2003-12-19

Total Pages: 338

ISBN-13: 1403938377

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This volume is a collection of selected papers using the framework of inframarginal analysis of the division of labour held at Monash University on 6-7 July 2001. This framework, pioneered mainly by Professor Xiaokai Yang, (with joint researches involving all the three editors and many of the authors), has been recommended by Professor James Buchanan (Nobel Laureate in Economics) as the most important analysis in economics in the world today.

Preface to
Preface to

Author: Xiaokai Yang

Publisher:

Published: 2010

Total Pages: 0

ISBN-13:

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This research monograph provides systematic and comprehensive materials for applying inframarginal analysis to study a wide range of economic phenomena. The analysis is based on a new overarching framework to resurrect the classical notion of division of labor and specialization, which is an essential source of increasing a nation's wealth. The framework absorbs many classical and neo-classical insights in a general equilibrium analysis and explains many micro- and macro-phenomena. Many areas of the discipline that have been customarily treated as separate branches can now be analyzed systematically within this integrated framework. These include, for example, micro-economics; macro-economics; development economics; international economics; urban economics; growth theory; industrial organization; applications of game theory in economics; economics of property rights; economics of transaction costs; economics of institutions and contract; economics of organization; economics of states; managerial economics; theory of hierarchy; new theory of the firm; theory of money; theory of insurance; theory of network and reliability.

'Preface To' Inframarginal Contributions to Development Economics
'Preface To' Inframarginal Contributions to Development Economics

Author: Christis Tombazos

Publisher:

Published: 2009

Total Pages: 0

ISBN-13:

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The core of classical economic analysis represented by William Petty and Adam Smith concentrated on the field of development economics. This classical footing of the study of development is different from the neoclassical perspective in two important respects: (a) it focuses on division of labor as the driving force of development, and (b) it emphasizes the role of the market (the “invisible hand”) in exploiting productivity gains that are derived from division of labor. However these aspects have received little attention in the body of literature that represents the modern field of development economics - which largely represents the neoclassical application of marginalism. A notable exception is research that utilizes inframarginal analysis of individuals' networking decisions in an attempt to formalize the classical mechanisms that drive division of labor. This book is a first attempt to collect relevant key contributions and is intended for active researchers in the field of development economics.