Bøger i The MIT Press serien

The second edition of an essential text on the microeconomic foundations of banking surveys the latest research in banking theory, with new material that covers recent developments in the field.Over the last thirty years, a new paradigm in banking theory has overturned economists' traditional vision of the banking sector. The asymmetric information model, extremely powerful in many areas of economic theory, has proven useful in banking theory both for explaining the role of banks in the economy and for pointing out structural weaknesses in the banking sector that may justify government intervention. In the past, banking courses in most doctoral programs in economics, business, or finance focused either on management or monetary issues and their macroeconomic consequences; a microeconomic theory of banking did not exist because the Arrow-Debreu general equilibrium model of complete contingent markets (the standard reference at the time) was unable to explain the role of banks in the economy. This text provides students with a guide to the microeconomic theory of banking that has emerged since then, examining the main issues and offering the necessary tools for understanding how they have been modeled.This second edition covers the recent dramatic developments in academic research on the microeconomics of banking, with a focus on four important topics: the theory of two-sided markets and its implications for the payment card industry; "non-price competition” and its effect on the competition-stability tradeoff and the entry of new banks; the transmission of monetary policy and the effect on the functioning of the credit market of capital requirements for banks; and the theoretical foundations of banking regulation, which have been clarified, although recent developments in risk modeling have not yet led to a significant parallel development of economic modeling.Praise for the first edition:"The book is a major contribution to the literature on the theory of banking and intermediation. It brings together and synthesizes a broad range of material in an accessible way. I recommend it to all serious scholars and students of the subject. The authors are to be congratulated on a superb achievement."—Franklin Allen, Nippon Life Professor of Finance and Economics, Wharton School, University of Pennsylvania"This book provides the first comprehensive treatment of the microeconomics of banking. It gives an impressive synthesis of an enormous body of research developed over the last twenty years. It is clearly written and apleasure to read. What I found particularly useful is the great effort that Xavier Freixas and Jean-Charles Rochet have taken to systematically integrate the theory of financial intermediation into classical microeconomics and finance theory. This book is likely to become essential reading for all graduate students in economics, business, and finance."—Patrick Bolton, Barbara and David Zalaznick Professor of Business, Columbia University Graduate School of Business"The authors have provided an extremely thorough and up-to-date survey of microeconomic theories of financial intermediation. This work manages to be both rigorous and pleasant to read. Such a book was long overdue and shouldbe required reading for anybody interested in the economics of banking and finance."—Mathias Dewatripont, Professor of Economics, ECARES, Universit

From the New York Times-bestselling author, a new volume on the history of human ingenuity-and its attendant breakthroughs and busts.The world is never finished catching up with Vaclav Smil. In his latest and perhaps most readable book, Invention and Innovation, the prolific author-a favorite of Bill Gates-pens an insightful and fact-filled jaunt through the history of human invention. Impatient with the hype that so often accompanies innovation, Smil offers in this book a clear-eyed corrective to the overpromises that accompany everything from new cures for diseases to AI. He reminds us that even after we go quite far along the invention-development-application trajectory, we may never get anything real to deploy. Or worse, even after we have succeeded by introducing an invention, its future may be marked by underperformance, disappointment, demise, or outright harm.Drawing on his vast breadth of scientific and historical knowledge, Smil explains the difference between invention and innovation, and looks not only at inventions that failed to dominate as promised (such as the airship, nuclear fission, and supersonic flight), but also at those that turned disastrous (leaded gasoline, DDT, and chlorofluorocarbons). And finally, most importantly, he offers a "e;wish list"e; of inventions that we most urgently need to confront the staggering challenges of the twenty-first century.Filled with engaging examples and pragmatic approaches, this book is a sobering account of the folly that so often attends human ingenuity-and how we can, and must, better align our expectations with reality.

The second edition of an innovative undergraduate textbook in Comparative Economic Systems that goes beyond the traditional dichotomies.

Extending the functional language Scheme with logical constructs in order to help the functional programmer think logically and the logic programmer think functionally.

A new edition of the leading text in monetary economics, a comprehensive treatment revised and enhanced with new material reflecting recent advances in the field.

Examines the two-way relationships between the thalamus and the cerebral cortex; with updated material and a new chapter on the link between perception and action.

An investigation into how machines and living creatures fly, and of the similarities between butterflies and Boeings, paper airplanes and plovers.From the smallest gnat to the largest aircraft, all things that fly obey the same aerodynamic principles. In The Simple Science of Flight, Henk Tennekes investigates just how machines and creatures fly: what size wings they need, how much energy is required for their journeys, how they cross deserts and oceans, how they take off, climb, and soar. Fascinated by the similarities between nature and technology, Tennekes offers an introduction to flight that teaches by association. Swans and Boeings differ in numerous ways, but they follow the same aerodynamic principles. Biological evolution and its technical counterpart exhibit exciting parallels. What makes some airplanes successful and others misfits? Why does the Boeing 747 endure but the Concorde now seem a fluke? Tennekes explains the science of flight through comparisons, examples, equations, and anecdotes. The new edition of this popular book has been thoroughly revised and much expanded. Highlights of the new material include a description of the incredible performance of bar-tailed godwits (7,000 miles nonstop from Alaska to New Zealand), an analysis of the convergence of modern jetliners (from both Boeing and Airbus), a discussion of the metabolization of energy featuring Lance Armstrong, a novel treatment of the aerodynamics of drag and trailing vortices, and an emphasis throughout on evolution, in nature and in engineering. Tennekes draws on new evidence on bird migration, new wind-tunnel studies, and data on new airliners. And his analysis of the relative efficiency of planes, trains, and automobiles is newly relevant. (On a cost-per-seat scale, a 747 is more efficient than a passenger car.)

An examination of the fundamental role cybernetics played in the birth of cognitive science and the light this sheds on current controversies.

Autobiographical accounts by twenty-three Nobel laureates give a picture of the richness of contemporary economic thought and insights into the creative process.

Dr. Smil is the world's authority on nitrogenous fertilizer.The industrial synthesis of ammonia from nitrogen and hydrogen has been of greater fundamental importance to the modern world than the invention of the airplane, nuclear energy, space flight, or television. The expansion of the world's population from 1.6 billion people in 1900 to today's six billion would not have been possible without the synthesis of ammonia.In Enriching the Earth, Vaclav Smil begins with a discussion of nitrogen's unique status in the biosphere, its role in crop production, and traditional means of supplying the nutrient. He then looks at various attempts to expand natural nitrogen flows through mineral and synthetic fertilizers. The core of the book is a detailed narrative of the discovery of ammonia synthesis by Fritz Haber—a discovery scientists had sought for over one hundred years—and its commercialization by Carl Bosch and the chemical company BASF. Smil also examines the emergence of the large-scale nitrogen fertilizer industry and analyzes the extent of global dependence on the Haber-Bosch process and its biospheric consequences. Finally, it looks at the role of nitrogen in civilization and, in a sad coda, describes the lives of Fritz Haber and Carl Bosch after the discovery of ammonia synthesis.

A concise and nontechnical but challenging introductory text that emphasizes fundamental concepts and real-world applications.

A presentation of circuit synthesis and circuit simulation using VHDL (including VHDL 2008), with an emphasis on design examples and laboratory exercises.

A comprehensive introduction to colorimetry from a conceptual perspective.Color for the Sciences is the first book on colorimetry to offer an account that emphasizes conceptual and formal issues rather than applications. Jan Koenderink's introductory text treats colorimetry—literally, "color measurement”—as a science, freeing the topic from the usual fixation on conventional praxis and how to get the "right” result. Readers of Color for the Sciences will learn to rethink concepts from the roots in order to reach a broader, conceptual understanding.After a brief account of the history of the discipline (beginning with Isaac Newton) and a chapter titled "Colorimetry for Dummies,” the heart of the book covers the main topics in colorimetry, including the space of beams, achromatic beams, edge colors, optimum colors, color atlases, and spectra. Other chapters cover more specialized topics, including implementations, metrics pioneered by Schrödinger and Helmholtz, and extended color space.Color for the Sciences can be used as a reference for professionals or in a formal introductory course on colorimetry. It will be especially useful both for those working with color in a scientific or engineering context who find the standard texts lacking and for professionals and students in image engineering, computer graphics, and computer science. Each chapter ends with exercises, many of which are open-ended, suggesting ways to explore the topic further, and can be developed into research projects. The text and notes contain numerous suggestions for demonstration experiments and individual explorations. The book is self-contained, with formal methods explained in appendixes when necessary.

A new edition of a textbook that provides students with a deep, working understanding of the essential concepts of programming languages, completely revised, with significant new material.This book provides students with a deep, working understanding of the essential concepts of programming languages. Most of these essentials relate to the semantics, or meaning, of program elements, and the text uses interpreters (short programs that directly analyze an abstract representation of the program text) to express the semantics of many essential language elements in a way that is both clear and executable. The approach is both analytical and hands-on. The book provides views of programming languages using widely varying levels of abstraction, maintaining a clear connection between the high-level and low-level views. Exercises are a vital part of the text and are scattered throughout; the text explains the key concepts, and the exercises explore alternative designs and other issues. The complete Scheme code for all the interpreters and analyzers in the book can be found online through The MIT Press web site. For this new edition, each chapter has been revised and many new exercises have been added. Significant additions have been made to the text, including completely new chapters on modules and continuation-passing style. Essentials of Programming Languages can be used for both graduate and undergraduate courses, and for continuing education courses for programmers.

A classic examination of superb design through the centuries.Widely regarded as a classic in the field, Experiencing Architecture explores the history and promise of good design. Generously illustrated with historical examples of designing excellence—ranging from teacups, riding boots, and golf balls to the villas of Palladio and the fish-feeding pavilion of Beijing's Winter Palace—Rasmussen's accessible guide invites us to appreciate architecture not only as a profession, but as an art that shapes everyday experience.In the past, Rasmussen argues, architecture was not just an individual pursuit, but a community undertaking. Dwellings were built with a natural feeling for place, materials and use, resulting in "a remarkably suitable comeliness.” While we cannot return to a former age, Rasmussen notes, we can still design spaces that are beautiful and useful by seeking to understand architecture as an art form that must be experienced. An understanding of good design comes not only from one's professional experience of architecture as an abstract, individual pursuit, but also from one's shared, everyday experience of architecture in real time—its particular use of light, color, shape, scale, texture, rhythm and sound. Experiencing Architecture reminds us of what good architectural design has accomplished over time, what it can accomplish still, and why it is worth pursuing. Wide-ranging and approachable, it is for anyone who has ever wondered "what instrument the architect plays on.”

Photographs by one of French cinema's most influential and enigmatic artists.Any new film and any new book by French filmmaker Chris Marker is an event. Marker gave film lovers one of their most memorable experiences with La Jetée (1962)—a time-travel montage set after a nuclear war that inspired Terry Gilliam's Twelve Monkeys (1995). His still camerawork is not as well known, but Marker has been taking photographs as long as he has been making films. Staring Back presents 200 black-and-white photographs from Marker's personal archives, taken from 1952 to 2006. Some of the photographs are related to his classic films (which include Le Jetée, Sans Soleil, ¡Cuba Si!, and The Case of the Grinning Cat), others are portraits of famous faces (Simone Signoret, Akira Kurosawa), but most are pictures of people Marker has encountered as he has traveled the world (an extra who appeared in Kurosawa's Ran, a woman seen on a street in Siberia). The central section of the book contains a series of photographs documenting political protests Marker has witnessed, including the march on the Pentagon in 1967, the events of May 1968 in Paris, and the tumultuous 2006 demonstrations protesting the French government's proposed employment policies. The photographs are accompanied by several unpublished texts by Marker, including the English language text of The Case of the Grinning Cat and Marker's annotations for some of the photos. The book—which appears in conjunction with an exhibition at the Wexner Center for the Arts at The Ohio State University—also includes essays by Wexner Center curator Bill Horrigan and art historian Molly Nesbit.

A comprehensive and authoritative overview of current research, major theoretical perspectives, and new research directions in the study of science, technology, and society.

This is the essential companion to the second edition of Jeffrey Wooldridge's widely used graduate econometrics text. The text provides an intuitive but rigorous treatment of two state-of-the-art methods used in contemporary microeconomic research. The numerous end-of-chapter exercises are an important component of the book, encouraging the student to use and extend the analytic methods presented in the book. This manual contains advice for answering selected problems, new examples, and supplementary materials designed by the author, which work together to enhance the benefits of the text. Users of the textbook will find the manual a necessary adjunct to the book.

A substantially revised and updated new edition of the leading text on business and government, with new material reflecting recent theoretical and methodological advances; includes further coverage of the Microsoft antitrust case, the deregulation of telecommunications and electric power, and new environmental regulations.

In this candid and witty autobiography, Nobel laureate Herbert A. Simon looks at his distinguished and varied career, continually asking himself whether (and how) what he learned as a scientist helps to explain other aspects of his life.A brilliant polymath in an age of increasing specialization, Simon is one of those rare scholars whose work defines fields of inquiry. Crossing disciplinary lines in half a dozen fields, Simon's story encompasses an explosion in the information sciences, the transformation of psychology by the information-processing paradigm, and the use of computer simulation for modeling the behavior of highly complex systems.Simon's theory of bounded rationality led to a Nobel Prize in economics, and his work on building machines that think—based on the notion that human intelligence is the rule-governed manipulation of symbols—laid conceptual foundations for the new cognitive science. Subsequently, contrasting metaphors of the maze (Simon's view) and of the mind (neural nets) have dominated the artificial intelligence debate.There is also a warm account of his successful marriage and of an unconsummated love affair, letters to his children, columns, a short story, and political and personal intrigue in academe.

The bicycle is almost unique among human-powered machines in that it uses human muscles in a near-optimum way. This new edition of the bible of bicycle builders and bicyclists provides just about everything you could want to know about the history of bicycles, how human beings propel them, what makes them go faster, and what keeps them from going even faster. The scientific and engineering information is of interest not only to designers and builders of bicycles and other human-powered vehicles but also to competitive cyclists, bicycle commuters, and recreational cyclists. The third edition begins with a brief history of bicycles and bicycling that demolishes many widespread myths. This edition includes information on recent experiments and achievements in human-powered transportation, including the "e;ultimate human- powered vehicle,"e; in which a supine rider in a streamlined enclosure steers by looking at a television screen connected to a small camera in the nose, reaching speeds of around 80 miles per hour. It contains completely new chapters on aerodynamics, unusual human-powered machines for use on land and in water and air, human physiology, and the future of bicycling. This edition also provides updated information on rolling drag, transmission of power from rider to wheels, braking, heat management, steering and stability, power and speed, and materials. It contains many new illustrations.

The French Riviera as Eden and muse for modern artists.The French Riviera has been a fabled resort for more than a century. As an enclave for the rich and famous, as well as a scenic tourist spot, it represents all that is beautiful and amusing. But for many of the twentieth century's finest painters, sculptors, photographers, and architects it has been much more: a place of potent myth and extraordinary creativity. Picasso, Matisse, Beckmann, Brancusi, Lartigue, Le Corbusier, and Eileen Gray, among many others, were inspired to create some of their greatest work on the Cote d'Azur.This study examines the impact of modernity and the artistic imagination on an idyllic landscape. Touching on the issues of pleasure and escape, work and leisure, and desire and ecstasy, Making Paradise offers a fresh look at the Cote d'Azur and its historical significance as a site for modernist innovation from 1890 to the present. Beginning with the neoimpressionists, moving to the Fauves, and ending with such contemporary artists as David Hockney and Faith Ringgold, the book examines the splendid light and terrain of the southeastern coast of France and the region's influence on the artists who worked and played there. Like the book, the exhibition it accompanies features unexpected juxtapostitions: masterworks by Bonnard and Picasso with the photographs of Lartigue and Model; the villas of Le Corbusier, Gray, and Mallet-Stevens with designs for the Ballets Russes de Monte Carlo; and ceramics of Picasso with the found-object constructions of the Ecole de Nice of the early 1960s.Copublished with the AXA Gallery, New York.Exhibition informationAXA GalleryNew York, New YorkApril 26-July 14, 2001

This revised edition of Taylor's classic work on the internal-combustion engine incorporates changes and additions in engine design and control that have been brought on by the world petroleum crisis, the subsequent emphasis on fuel economy, and the legal restraints on air pollution.

Continuing his exploration of the organization of complexity and the science of design, this new edition of Herbert Simon's classic work on artificial intelligence adds a chapter that sorts out the current themes and tools--chaos, adaptive systems, genetic algorithms--for analyzing complexity and complex systems.

The notion that "thinking about computing is one of the most exciting things the human mind can do" sets both The Little Schemer (formerly known as The Little LISPer) and its new companion volume, The Seasoned Schemer, apart from other books on LISP. The authors' enthusiasm for their subject is compelling as they present abstract concepts in a humorous and easy-to-grasp fashion. Together, these books will open new doors of thought to anyone who wants to find out what computing is really about. The Little Schemer introduces computing as an extension of arithmetic and algebra; things that everyone studies in grade school and high school. It introduces programs as recursive functions and briefly discusses the limits of what computers can do. The authors use the programming language Scheme, and interesting foods to illustrate these abstract ideas. The Seasoned Schemer informs the reader about additional dimensions of computing: functions as values, change of state, and exceptional cases. The Little LISPer has been a popular introduction to LISP for many years. It had appeared in French and Japanese. The Little Schemer and The Seasoned Schemer are worthy successors and will prove equally popular as textbooks for Scheme courses as well as companion texts for any complete introductory course in Computer Science.

Foundations of International Macroeconomics is an innovative text that offers the first integrative modern treatment of the core issues in open economy macroeconomics and finance. With its clear and accessible style, it is suitable for first-year graduate macroeconomics courses as well as graduate courses in international macroeconomics and finance. Each chapter incorporates an extensive and eclectic array of empirical evidence. For the beginning student, these examples provide motivation and aid in understanding the practical value of the economic models developed. For advanced researchers, they highlight key insights and conundrums in the field.Topic coverage includes intertemporal consumption and investment theory, government spending and budget deficits, finance theory and asset pricing, the implications of (and problems inherent in) international capital market integration, growth, inflation and seignorage, policy credibility, real and nominal exchange rate determination, and many interesting special topics such as speculative attacks, target exchange rate zones, and parallels between immigration and capital mobility. Most main results are derived both for the small country and world economy cases. The first seven chapters cover models of the real economy, while the final three chapters incorporate the economy's monetary side, including an innovative approach to bridging the usual chasm between real and monetary models.