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Few forms of market exchange intrigue economists as do auctions, whose theoretical and practical implications are enormous. John Kagel and Dan Levin, complementing their own distinguished research with papers written with other specialists, provide a new focus on common value auctions and the "e;winner's curse."e; In such auctions the value of each item is about the same to all bidders, but different bidders have different information about the underlying value. Virtually all auctions have a common value element; among the burgeoning modern-day examples are those organized by Internet companies such as eBay. Winners end up cursing when they realize that they won because their estimates were overly optimistic, which led them to bid too much and lose money as a result. The authors first unveil a fresh survey of experimental data on the winner's curse. Melding theory with the econometric analysis of field data, they assess the design of government auctions, such as the spectrum rights (air wave) auctions that continue to be conducted around the world. The remaining chapters gauge the impact on sellers' revenue of the type of auction used and of inside information, show how bidders learn to avoid the winner's curse, and present comparisons of sophisticated bidders with college sophomores, the usual guinea pigs used in laboratory experiments. Appendixes refine theoretical arguments and, in some cases, present entirely new data. This book is an invaluable, impeccably up-to-date resource on how auctions work--and how to make them work.

Edward Lear, known as an author of nonsense verse, was also an artist and natural history illustrator.

The Great Divergence brings new insight to one of the classic questions of history: Why did sustained industrial growth begin in Northwest Europe, despite surprising similarities between advanced areas of Europe and East Asia? As Ken Pomeranz shows, as recently as 1750, parallels between these two parts of the world were very high in life expectancy, consumption, product and factor markets, and the strategies of households. Perhaps most surprisingly, Pomeranz demonstrates that the Chinese and Japanese cores were no worse off ecologically than Western Europe. Core areas throughout the eighteenth-century Old World faced comparable local shortages of land-intensive products, shortages that were only partly resolved by trade. Pomeranz argues that Europe's nineteenth-century divergence from the Old World owes much to the fortunate location of coal, which substituted for timber. This made Europe's failure to use its land intensively much less of a problem, while allowing growth in energy-intensive industries. Another crucial difference that he notes has to do with trade. Fortuitous global conjunctures made the Americas a greater source of needed primary products for Europe than any Asian periphery. This allowed Northwest Europe to grow dramatically in population, specialize further in manufactures, and remove labor from the land, using increased imports rather than maximizing yields. Together, coal and the New World allowed Europe to grow along resource-intensive, labor-saving paths. Meanwhile, Asia hit a cul-de-sac. Although the East Asian hinterlands boomed after 1750, both in population and in manufacturing, this growth prevented these peripheral regions from exporting vital resources to the cloth-producing Yangzi Delta. As a result, growth in the core of East Asia's economy essentially stopped, and what growth did exist was forced along labor-intensive, resource-saving paths--paths Europe could have been forced down, too, had it not been for favorable resource stocks from underground and overseas.

Taking readers into the homes of middle-class families to reveal the hidden consequences of student debt and the ways that financing college has transformed family life, the author describes the profound moral conflicts for parents take on enormous debts and gamble on an investment that might not pay off.

A leading historian reconstructs the forgotten history of medieval AfricaFrom the birth of Islam in the seventh century to the voyages of European exploration in the fifteenth, Africa was at the center of a vibrant exchange of goods and ideas. It was an African golden age in which places like Ghana, Nubia, and Zimbabwe became the crossroads of civilizations, and where African royals, thinkers, and artists played celebrated roles in the globalized world of the Middle Ages. The Golden Rhinoceros brings this unsung era marvelously to life, taking readers from the Sahara and the Nile River Valley to the Ethiopian highlands and southern Africa.Drawing on fragmented written sources as well as his many years of experience as an archaeologist, Francois-Xavier Fauvelle painstakingly reconstructs an African past that is too often denied its place in history-but no longer. He looks at ruined cities found in the mangrove, exquisite pieces of art, rare artifacts like the golden rhinoceros of Mapungubwe, ancient maps, and accounts left by geographers and travelers-remarkable discoveries that shed critical light on political and architectural achievements, trade, religious beliefs, diplomatic episodes, and individual lives.A book that finally recognizes Africa's important role in the Middle Ages, The Golden Rhinoceros also provides a window into the historian's craft. Fauvelle carefully pieces together the written and archaeological evidence to tell an unforgettable story that is at once sensitive to Africa's rich social diversity and alert to the trajectories that connected Africa with the wider Muslim and Christian worlds.

How did Britain transform itself from a nation of workhouses to one that became a model for the modern welfare state? The Winding Road to the Welfare State investigates the evolution of living standards and welfare policies in Britain from the 1830s to 1950 and provides insights into how British working-class households coped with economic insecurity. George Boyer examines the retrenchment in Victorian poor relief, the Liberal Welfare Reforms, and the beginnings of the postwar welfare state, and he describes how workers altered spending and saving methods based on changing government policies.From the cutting back of the Poor Law after 1834 to Parliament's abrupt about-face in 1906 with the adoption of the Liberal Welfare Reforms, Boyer offers new explanations for oscillations in Britain's social policies and how these shaped worker well-being. The Poor Law's increasing stinginess led skilled manual workers to adopt self-help strategies, but this was not a feasible option for low-skilled workers, many of whom continued to rely on the Poor Law into old age. In contrast, the Liberal Welfare Reforms were a major watershed, marking the end of seven decades of declining support for the needy. Concluding with the Beveridge Report and Labour's social policies in the late 1940s, Boyer shows how the Liberal Welfare Reforms laid the foundations for a national social safety net.A sweeping look at economic pressures after the Industrial Revolution, The Winding Road to the Welfare State illustrates how British welfare policy waxed and waned over the course of a century.

A leading environmental thinker explores how people might begin to heal their fractured and contentious relationship with the land and with each other. From the coalfields of Appalachia and the tobacco fields of the Carolinas to the public lands of the West, Purdy shows how the land has always united and divided Americans.

Taking readers from the rainforests of Paraguay to the streets of Tokyo, Mattern draws on historical, scientific, and cultural research to reveal how perceptions of menopause developed from prehistory to today. She goes on to introduce new ways of understanding life beyond fertility.

The Islamic State has stunned the world with its savagery, destructiveness, and military and recruiting successes. What explains the rise of ISIS, and what does it portend for the future of the Middle East? In this book, one of the world's leading authorities on political Islam and jihadism sheds new light on these questions. Moving beyond journalistic accounts, Fawaz Gerges provides a clear and compelling explanation of the deeper conditions that fuel ISIS. This unique history shows how decades of dictatorship, poverty, and rising sectarianism in the Middle East, exacerbated by foreign intervention, led to the rise and growth of ISISand why addressing those problems is the only way to ensure its end. An authoritative introduction to arguably the most important conflict in the world today, this is an essential book for anyone seeking a deeper understanding of the social turmoil and political violence ravaging the Arab-Islamic world.

Acclaimed literary historian Schmidt provides a unique meditation on the rediscovery of Gilgamesh and its profound influence on poets today. He describes how the poem is a work in progress even now, an undertaking that has drawn on the talents and obsessions of an unlikely cast of characters, from archaeologists and museum curators to tomb raiders and jihadis.

Shedding critical new light on the diverse forms of Puritan belief and practice in England, Scotland, and New England, Hall provides a multifaceted account of a cultural movement that judged the Protestant reforms of Elizabeth's reign to be unfinished.

"In this book the visual artist Natalie Frank interprets eight tales by Madame d'Aulnoy, a seventeenth-century French pioneer of the fairy-tale genre. D'Aulnoy is thought to have influenced the development of the literary fairy tale in France and beyond. The tales were written as entertainment for the salons of the time: many contain subtle criticisms of French royalty and aristocrats as well as of enforced social and sexual roles. Her work has been translated into English in the past, but rarely outside of anthologies that include other authors. Frank chose to make d'Aulnoy's tales the subject of this book because "many of her heroines' journeys and conflicts have not changed," she writes. "A suitor's arrogance can destroy happiness; the power of kindness and wiliness, combined with perseverance, triumphs; jealousy poisons families and separates lovers." Frank is deeply interested in the role of women in fairy tales. D'Aulnoy, she says, used her talent to both imagine and inhabit worlds in which women could exercise agency. Aiming to "bridge the gap between fine art and illustration," Frank brings a striking, distinctive style to d'Aulnoy's tales through an integration of art and text. Allegorical, energetic, sometimes grotesque, Frank's art is the focus of this book, accompanied by contemporary English translations of the tales by Jack Zipes, a renowned expert on fairy tales. The book also includes a short essay by the artist on her approach to illustrating the tales, and a general introduction to d'Aulnoy and her work by Zipes"--

Focusing on the years 1980-2015, Brint details the trajectory of American universities, which was influenced by evolving standards of disciplinary professionalism, market-driven partnerships, and the goal of social inclusion.

Turkish republicanism is commonly thought to have originated with Mustafa Kemal Ataturk and the founding of modern Turkey in 1923, and understood exclusively in terms of Kemalist ideals, characterized by the principles of secularism, nationalism, statism, and populism. Banu Turnaoglu challenges this view, showing how Turkish republicanism represents the outcome of centuries of intellectual dispute in Turkey over Islamic and liberal conceptions of republicanism, culminating in the victory of Kemalism in the republic's formative period.Drawing on a wealth of rare archival material, Turnaoglu presents the first complete history of republican thinking in Turkey from the birth of the Ottoman state to the founding of the modern republic. She shows how the Kemalists wrote Turkish history from their own perspective, presenting their own version of republicanism as inevitable while disregarding the contributions of competing visions. Turnaoglu demonstrates how republicanism has roots outside the Western political experience, broadening our understanding of intellectual history. She reveals how the current crises in Turkish politics-including the Kurdish Question, democratic instability, the rise of radical Islam, and right-wing Turkish nationalism-arise from intellectual tensions left unresolved by Kemalist ideology.A breathtaking work of scholarship, The Formation of Turkish Republicanism offers a strikingly new narrative of the evolution and shaping of modern Turkey.

The first book to comprehensively explore the cognitive foundations of human spatial navigationHumans possess a range of navigation and orientation abilities, from the ordinary to the extraordinary. All of us must move from one location to the next, following habitual routes and avoiding getting lost. While there is more to learn about how the brain underlies our ability to navigate, neuroscience and psychology have begun to converge on some important answers. In Human Spatial Navigation, four leading expertstackle fundamental and unique issues to produce the first book-length investigation into this subject. Opening with the vivid story of Puluwat sailors who navigate in the open ocean with no mechanical aids, the authors begin by dissecting the behavioral basis of human spatial navigation. They then focus on its neural basis, describing neural recordings, brain imaging experiments, and patient studies. Recent advances give unprecedented insights into what is known about the cognitive map and the neural systems that facilitate navigation. The authors discuss how aging and diseases can impede navigation, and they introduce cutting-edge network models that show how the brain can act as a highly integrated system underlying spatial navigation. Throughout, the authors touch on fascinating examples of able navigators, from the Inuit of northern Canada to London taxi drivers, and they provide a critical lens into previous navigation research, which has primarily focused on other species, such as rodents. An ideal book for students and researchers seeking an accessible introduction to this important topic, Human Spatial Navigation offers a rich look into spatial memory and the neuroscientific foundations for how we make our way in the world.