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Monopsony in Motion
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 Motion stands 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 Motion will 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.
eBook
The Physics of Foraging
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.
eBook
Strichartz Estimates and the Cauchy Problem for the Gravity Water Waves Equations
This memoir is devoted to the proof of a well-posedness result for the gravity water waves equations, in arbitrary dimension and in
fluid domains with general bottoms, when the initial velocity field is not necessarily Lipschitz. Moreover, for two-dimensional waves,
we can consider solutions such that the curvature of the initial free surface does not belong to
The
proof is entirely based on the Eulerian formulation of the water waves equations, using microlocal analysis to obtain sharp Sobolev and
Hölder estimates. We first prove tame estimates in Sobolev spaces depending linearly on Hölder norms and then we use the dispersive
properties of the water-waves system, namely Strichartz estimates, to control these Hölder norms.
eBook
Secular Cycles
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. Secular Cycles elaborates and expands upon the demographic-structural theory first advanced by Jack Goldstone, which provides an explanation of long-term oscillations. This book tests that theory's specific and quantitative predictions by tracing the dynamics of population numbers, prices and real wages, elite numbers and incomes, state finances, and sociopolitical instability. Turchin and Nefedov study societies in England, France, and Russia during the medieval and early modern periods, and look back at the Roman Republic and Empire. Incorporating theoretical and quantitative history, the authors examine a specific model of historical change and, more generally, investigate the utility of the dynamical systems approach in historical applications. An indispensable and groundbreaking resource for a wide variety of social scientists, Secular Cycles will interest practitioners of economic history, historical sociology, complexity studies, and demography.
eBook
Forecasting in financial and sports gambling markets : adaptive drift modeling
\"This book discusses cointegrated time series associated with financial and sports gambling markets are analyzed in terms of time-varying parameter models. Modeling premises are that present and past disequilibria--shocks both within and between time series--may affect subsequent changes and rates of these changes within individual series and sufficiently large shocks may disrupt/alter model structure such that resulting forecasts may be temporarily unreliable. Reduced forecasting equations are in terms of higher order ARMA models that are not limited to bilinear processes. Sports forecasting models based on public information are usually more effective--in terms of profitable trading/wagering strategies--than those for the financial sector for two reasons: insider information is less prevalent, and modeling is simplified since lagged shocks associated with the gambling lines/spreads are known--in contrast with financial modeling where there are no comparable gambling shocks, only unknown, lagged statistical shocks in terms of MA variables. Forecasting is illustrated for NFL and NBA playoff games. In financial markets, cointegration is discussed in terms of candlestick chart variants with modeling illustrations given in terms of recent Google price changes. Chapter coverage includes candlestick charts, higher order ARMA processes in financial markets, the effects of gambling shocks in sports gambling markets, cointegrated time series with model drift, modeling volatility, and the promotion of financial and mathematical literacy\"--Provided by publisher.
Book
Global Regularity for 2d Water Waves with Surface Tension
We consider the full irrotational water waves system with surface tension and no gravity in dimension two (the capillary waves
system), and prove global regularity and modified scattering for suitably small and localized perturbations of a flat interface. An
important point of our analysis is to develop a sufficiently robust method, based on energy estimates and dispersive analysis, which
allows us to deal simultaneously with strong singularities arising from time resonances in the applications of the normal form method
and with nonlinear scattering. As a result, we are able to consider a suitable class of perturbations with finite energy, but no other
momentum conditions.
Part of our analysis relies on a new treatment of the Dirichlet-Neumann operator in dimension two which is
of independent interest. As a consequence, the results in this paper are self-contained.
eBook