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With the growing popularity of apps such as Uber and Airbnb, there has been a keen interest in the rise of the sharing economy. Michael C. Munger brings these new trends in the economy down to earth by focusing on their relation to the fundamental economic concept of transaction costs. In doing so Munger brings a fresh perspective on the 'sharing economy' in clear and engaging writing that is accessible to both general and specialist readers. He shows how, for the first time, entrepreneurs can sell reductions in transaction costs, rather than reductions in the costs of the products themselves. He predicts that smartphones will be used to commodify excess capacity, and reaches the controversial conclusion that a basic income will be required as a consequence of this new 'transaction costs revolution'.

With the growing popularity of apps such as Uber and Airbnb, there has been a keen interest in the rise of the sharing economy. Michael C. Munger brings these new trends in the economy down to earth by focusing on their relation to the fundamental economic concept of transaction costs. In doing so Munger brings a fresh perspective on the 'sharing economy' in clear and engaging writing that is accessible to both general and specialist readers. He shows how, for the first time, entrepreneurs can sell reductions in transaction costs, rather than reductions in the costs of the products themselves. He predicts that smartphones will be used to commodify excess capacity, and reaches the controversial conclusion that a basic income will be required as a consequence of this new 'transaction costs revolution'.

This book is an introduction to the logic and analytics of group choice. To understand how political institutions work, it is important to isolate what citizens - as individuals and as members of society - actually want. This book develops a means of 'representing' the preferences of citizens so that institutions can be studied more carefully. This is the first book to integrate the classical problem of constitutions with modern spatial theory, connecting Aristotle and Montesquieu with Arrow and Buchanan.

This book is an introduction to the logic and analytics of group choice. To understand how political institutions work, it is important to isolate what citizens - as individuals and as members of society - actually want. This book develops a means of 'representing' the preferences of citizens so that institutions can be studied more carefully. This is the first book to integrate the classical problem of constitutions with modern spatial theory, connecting Aristotle and Montesquieu with Arrow and Buchanan.

This readable and comprehensive introduction to the principles of public-policy analysis is the first book to integrate the tools students need to analyze policies with the common sense they need to

A pioneering effort to integrate ideology with formal political theory.

The only book on the market to include classical and contemporary readings from key authors in Philosophy, Politics, and Economics (PPE), this unique anthology provides a comprehensive overview of the

Prediction has a venerable tradition among economists. In Economic Possibilities for Our Grandchildren,” John Maynard Keynes, the well known classical economist,even as the Great Depression was unfold