At a time when the United States faces tremendous pressure from global competition, and the voices of external customers are growing louder and stronger, the quest for quality has never been more urgent. The very survival of organizations is acutely in jeopardy. The notion of quality has gone from being a socially provocative one to being a deliberate strategy for long-term viability. In t…
The rise of the quality profession as a specialty within business coincided with the increased complexity of business enterprises. In simpler times, when goods and services were provided by individual artisans, elaborate quality systems were unnecessary. An individual producer could simply compare customer requirements to his or her work and estimate its value. The rise of complex and larg…
Econometric modelling has long been an integral part of the academic and policy- making scene in Singapore and has contributed in important ways to enhancing our understanding of key relationships and interlinkages in the economy. This in turn has formed the basis for deeper and more valuable discussions of macroeconomic policy issues. Indeed, the practice of econometric modelling has evolved …
The present book is the outcome from the third European Meeting of Applied Evolutionary Economics (EMAEE) which took place in April 2003 at the University of Augsburg. The conference was entitled as this volume ‘Applied Evolutionary Economics and the Knowledge-based Economies’. The different contributions of this book are a selection of conference papers and deal with various aspects of kno…
We have entered a new era in the evolution of organizational life in which all of us can be agents capable of transforming the direction and flow of events. The immense forces of the technological, societal, and global changes resulted in a variety of new terms and labels that attempted to capture the changing work-life reality: post-industrial society, the information revolution, the postc…
This book is a volume in the Econometric Exercises series. It teaches principles of Bayesian econometrics by posing a series of theoretical and applied questions, and providing detailed solutions to those questions. This text is primarily suitable for graduate study in economet- rics, though it can be used for advanced undergraduate courses, and should generate interest from students in relat…
The objective of econometrics is to study economic phenomena using statistical observations. Econometrics formalizes the economic theory in the form of relationships (models) whose unknown elements are determined by the available data. Econometrics quantifies and tests economic theories and makes those theories operational through forecasting or simulation of the impact of political or economic…
Energy is today, more than ever, at the core of the world economy and its evolution. One of the major challenges of the century is to generate more energy, to facilitate access to energy and economic development of the poor, but also to manage climate change properly in a perspective of sustainable develop- ment. The growing importance of energy matters in the daily functioning of the world eco…
This book collects a series of essays to celebrate the work of David Hendry: one of the most influential of all modern econometricians. David’s writing has covered many areas of modern econometrics, which brings together insights from economic theory, past empirical evidence, the power of modern computing, and rigorous statistical theory to try to build useful empirically appealing models.…
Social economics is the study, with the methods of economics, of social phenomena in which aggregates affect individual choices.1 Such phenomena include, just to mention a few, social norms and conventions, cultural identities and stereotypes, peer and neighbor- hood effects. A central underpinning of the methods of economics is methodological individualism. In particular, explanations based s…