Investment under Uncertainty or International Law in the 21st Century

Investment under Uncertainty

Author: Avinash K Dixit

How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending.

This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.

Books about economics: Guinness or Pancake Handbook

International Law in the 21st Century: Rules for Global Governance

Author: Christopher C Joyner

In the first truly new international law text in years, Christopher C. Joyner offers a critical assessment of international legal rules in the early st century as they are applied by governments to the real world. Looking at concepts and principles, processes, and critical problems, Joyner steers clear of an old-time case method approach, preferring to treat issues thematically. He shows the challenges of international law in terms of peace, security, human rights, the environment, and economic justice. Particular features of the book include engaging vignettes, clearly defined key terms, and special coverage of emerging topics including common spaces international criminal law rules, norms, and regimes and trade relations and commercial exchange. Through it all, Joyner maintains an intent focus on the role of the individual in the evolving international legal order.

Table of Contents:

1	The nature of international legal rules	3
2	The international legal community	23
3	The state	41
4	The individual	61
5	International organizations	85
6	Agreements and disputes	105
7	International criminal law	133
8	Use of force law	161
9	International environmental law	197
10	Global commons law	223
11	International economic law	253
12	Looking back to see ahead : globalization and challenges to the international legal order	287