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William C. Strange
This research review discusses some of the most essential papers encompassing agglomeration economies. Agglomeration economies are manifested in cities and industry clusters shaping the neighborhoods and the regions that contain them. The review analyses econometric methods and data improvements, geographic scales at which agglomeration economies operate, micro-neighborhoods and mega-regions. The author also uncovers the forces driving the field including labor markets, input markets and dynamic phenomena such as innovation, technology change and growth.
Dean V. Williamson
Do institutions matter in economic theory? Or is the economic analysis of institutions a distraction from the most important action? Indeed, does Vernon Smith’s notion of the “institution-free core” of formal economic theory encompass that most important action? To explore this question, this book opens with an informal tour of the economics of system design out of which an economics of adaptation ultimately emerged. The book then offers explorations, via the application of the economics of adaptation in both law and economics relating to how parties manage relationships within the firm, within the context of long-term contracts, and, most vividly, within the context of antitrust conspiracy.