Topic
Managerial economics
About: Managerial economics is a research topic. Over the lifetime, 1524 publications have been published within this topic receiving 83965 citations.
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01 Jan 2009
TL;DR: In this paper, the authors present four rules for maximizing profits in a transparent manner in the context of power nodes in the 21st century legal marketplace. But they do not discuss how to use these rules to improve the performance of the power nodes.
Abstract: INTRODUCTION I. THE KEY TO PROFIT POWER 1. The Power Node Strategy II. UNDERSTANDING THE TRANSPARENT ECONOMY 2. The Star Driver: The Vanishing Cost of Information 3. The Two Faces of Transparency: Two Inevitable Trends 4. The Economics of Perfect Information and Why Classic Economic Models Fail in Transparency 5. The New Paradigm: Powerlaw Economics III. HOW TRANSPARENCY ALTERS THE BUILDING BLOCKS OF EXTRAORDINARY PROFITS 6. Answering the Four Strategic Questions in Transparency 7. Ownership Focused on Power Nodes 8. The 21st Century Firm 9. 3-Dimensional Competition 10. Strategies for Powerlaw Marketplaces IV. THE FOUR RULES FOR MAXIMIZING PROFITS IN TRANSPARENCY 11. From the Four Questions to the Four Rules V. POWER NODES: TRANSPARENCY'S COMPETITIVE WEAPONS 12. Managing the Power Nodes 13. The 12 Power Nodes VI. THE FOUR RULES METHOD FOR MAXIMIZING PROFITS 14. The Four Rules-Templates and How to Use Them 15. Rule #1: Power Node Evaluation and Action Plan Templates 16. Rule #2: 21st Century Business Model Evaluation and Action Plan Templates 17. Rule #3: 3-D Competition Evaluation and Action Plan Templates 18. Rule #4: Powerlaw Marketplace Evaluation and Action Plan Templates VII. STRATEGIES FOR INVESTORS 19. The Four Rules Method: Added Value for Investors VIII. CONCLUSION 20. On Gaining Perspective GLOSSARY BIBLIOGRAPHY NOTES
6 citations
TL;DR: In this article, the authors identify correlation between mass education and complexity of rationality in financial economics and find that high cumulative level of knowledge in society might have an influence on complexity and difficulty on country's economic system, especially regarding behavior economics approach.
6 citations
6 citations
01 Nov 2003
TL;DR: The theory of second best as discussed by the authors states that if all of the distortions in the economy cannot be eliminated, all bets are off, and that eliminating or reducing another distortion might raise welfare, but can just as easily reduce welfare.
Abstract: The theory of the second best states that if all of the distortions in the economy cannot be eliminated, all bets are off. Eliminating or reducing another distortion might raise welfare, but can just as easily reduce welfare. For example, Samuelson recognized that the optimal quantity of a public good would not be characterized by the Samuelson condition if the public good were financed through distortionary taxation. This condition assumes that expanded provision of public goods is costly to consumers only in that it requires scarce resources to be transferred from the production of other goods. However, if the production of public goods is financed through distortionary taxation, providing more public goods is also costly because it increases the amount of revenue that the government must raise, and hence increases the deadweight loss of the tax system. The optimal quantity of a public good when taxes are distortionary is generally (but not always) smaller than that dictated by the Samuelson condition. This chapter looks at two important illustrations of the theory of the second best: the design of the tax system, and the pricing of goods produced by a regulated or government-owned monopoly. OPTIMAL TAXATION Every tax system that raises a significant amount of revenue will impose a deadweight loss upon the economy. The system that raises the required revenue with the smallest deadweight loss is said to be “optimal.”
6 citations