Books in the The MIT Press series

A comprehensive introduction to contract theory, emphasizing common themes and methodologies as well as applications in key areas.Despite the vast research literature on topics relating to contract theory, only a few of the field's core ideas are covered in microeconomics textbooks. This long-awaited book fills the need for a comprehensive textbook on contract theory suitable for use at the graduate and advanced undergraduate levels. It covers the areas of agency theory, information economics, and organization theory, highlighting common themes and methodologies and presenting the main ideas in an accessible way. It also presents many applications in all areas of economics, especially labor economics, industrial organization, and corporate finance. The book emphasizes applications rather than general theorems while providing self-contained, intuitive treatment of the simple models analyzed. In this way, it can also serve as a reference for researchers interested in building contract-theoretic models in applied contexts.The book covers all the major topics in contract theory taught in most graduate courses. It begins by discussing such basic ideas in incentive and information theory as screening, signaling, and moral hazard. Subsequent sections treat multilateral contracting with private information or hidden actions, covering auction theory, bilateral trade under private information, and the theory of the internal organization of firms; long-term contracts with private information or hidden actions; and incomplete contracts, the theory of ownership and control, and contracting with externalities. Each chapter ends with a guide to the relevant literature. Exercises appear in a separate chapter at the end of the book.

How we experience space by listening: the concepts of aural architecture, with examples ranging from Gothic cathedrals to surround sound home theater.We experience spaces not only by seeing but also by listening. We can navigate a room in the dark, and "hear" the emptiness of a house without furniture. Our experience of music in a concert hall depends on whether we sit in the front row or under the balcony. The unique acoustics of religious spaces acquire symbolic meaning. Social relationships are strongly influenced by the way that space changes sound. In Spaces Speak, Are You Listening?, Barry Blesser and Linda-Ruth Salter examine auditory spatial awareness: experiencing space by attentive listening. Every environment has an aural architecture.The audible attributes of physical space have always contributed to the fabric of human culture, as demonstrated by prehistoric multimedia cave paintings, classical Greek open-air theaters, Gothic cathedrals, acoustic geography of French villages, modern music reproduction, and virtual spaces in home theaters. Auditory spatial awareness is a prism that reveals a culture's attitudes toward hearing and space. Some listeners can learn to "see" objects with their ears, but even without training, we can all hear spatial geometry such as an open door or low ceiling.Integrating contributions from a wide range of disciplines—including architecture, music, acoustics, evolution, anthropology, cognitive psychology, audio engineering, and many others—Spaces Speak, Are You Listening? establishes the concepts and language of aural architecture. These concepts provide an interdisciplinary guide for anyone interested in gaining a better understanding of how space enhances our well-being. Aural architecture is not the exclusive domain of specialists. Accidentally or intentionally, we all function as aural architects.

An introduction to advanced topics in microeconomics that emphasizes the intuition behind assumptions and results, providing examples that show how to apply theory to practice.This textbook offers an introduction to advanced microeconomic theory that emphasizes the intuition behind mathematical assumptions, providing step-by-step examples that show how to apply theoretical models. It covers standard topics such as preference relations, demand theory and applications, producer theory, choice under uncertainty, partial and general equilibrium, monopoly, game theory and imperfect competition, externalities and public goods, and contract theory; but its intuitive and application-oriented approach provides students with a bridge to more technical topics. The book can be used by advanced undergraduates as well as Masters students in economics, finance, and public policy, and by PhD students in programs with an applied focus.The text connects each topic with recent findings in behavioral and experimental economics, and discusses these results in context, within the appropriate chapter. Step-by-step examples appear immediately after the main theoretical findings, and end-of chapter exercises help students understand how to approach similar exercises on their own. An appendix reviews basic mathematical concepts. A separate workbook, Practice Exercises for Advanced Microeconomic Theory, offers solutions to selected problems with detailed explanations. The textbook and workbook together help students improve both their theoretical and practical preparation in advanced microeconomics.

An account of the significant though gradual, uneven, disconnected, ad hoc, and pragmatic innovations in global financial governance and developmental finance induced by the global financial crisis.

Botanical encounters in the rainforest: trees that walk, a leaf as big as an awning, a plant that dances.This Atlas invites the reader to tour the farthest reaches of the rainforest in search of exotic—poetic—plant life. Guided in these botanical encounters by Francis Hallé, who has spent forty years in pursuit of the strange and beautiful plant specimens of the rainforest, the reader discovers a plant with just one solitary, monumental leaf; an invasive hyacinth; a tree that walks; a parasitic laurel; and a dancing vine. Further explorations reveal the Rafflesia arnoldii, the biggest flower in the world, with a crown of stamens and pistils the color of rotten meat that exude the stench of garbage in the summer sun; underground trees with leaves that form a carpet on the ground above them; and the biggest tree in Africa, which can reach seventy meters (more tha 200 feet) in height, with a four-meter (about 13 feet) diameter. Hallé's drawings, many in color, provide a witty accompaniment. Like any good tour guide, Hallé tells stories to illustrate his facts. Readers learn about, among other things, Queen Victoria's rubber tree; legends of the moabi tree (for example, that powder from the bark confers invisibility); a flower that absorbs energy from a tree; plants that imitate other plants; a tree that rains; and a fern that clones itself. Hallé's drawings represent an investment in time that returns a dividend of wonder more satisfying than the ephemeral thrill afforded by the photograph. The Atlas of Poetic Botany allows us to be amazed by forms of life that seem as strange as visitors from another planet.

The daughter of French psychoanalyst Jacques Lacan tries to make sense of her relationship with her father."When I was born, my father was already no longer there.” Sibylle Lacan's memoir of her father, the influential French psychoanalyst Jacques Lacan, is told through fragmentary, elliptical episodes, and describes a figure who had defined himself to her as much by his absence as by his presence. Sibylle was the second daughter and unhappy last child of Lacan's first marriage: the fruit of despair ("some will say of desire, but I do not believe them”). Lacan abandoned his old family for a new one: a new partner, Sylvia Bataille (the wife of Georges Bataille), and another daughter, born a few months after Sibylle. For years, this daughter, Judith, was the only publicly recognized child of Lacan—even if, due to French law, she lacked his name. In one sense, then, A Father presents the voice of one who, while bearing his name, had been erased. If Jacques Lacan had described the word as a "presence made of absence,” Sibylle Lacan here turns to the language of the memoir as a means of piecing together the presence of a man who had entered her life in absence, and in his passing, finished in it. In its interplay of absence, naming, and the despair engendered by both, A Father ultimately poses an essential question: what is a father? This first-person account offers both a riposte and a complement to the concept (and the name) of the father as Lacan had defined him in his work, and raises difficult issues about the influence biography can have on theory—and vice versa—and the sometimes yawning divide that can open up between theory and the lives we lead.