Richard E. Caves Book order (chronological)

The third edition incorporates the many additions to our knowledge of multinationals accumulated in research appearing in the past decade. It shows how economic analysis can explain multinationals' activity patterns and how economics can shed conceptual light on problems of business policies and managerial decisions arising in practice.

To explain the logic of these arrangements, the author draws on the analytical resources of industrial economics and the theory of contracts. He addresses the winner-take-all character of many creative activities that brings wealth and renown to some artists while dooming others to frustration; why the "option" form of contract is so prevalent; and why even savvy producers get sucked into making "ten-ton turkeys" such as "Heaven's Gate".

This new edition of World Trade and Payments retains those features that have made it such a highly respected and successful text. Once again it offers clear coverage of sophisticated models supported by the latest empirical research, all made easily understandable by a wealth of issues and applications. In addition, new theoretical developments have been incorporated to keep the text up-to-date. The balanced coverage of trade and finance features updated material on the multinational enterprise, the political economy of trade controls, the outcome of the Uruguay Round of international tariff negotiations, and the new World Trade Organization. Also, there are entirely new discussions on the Eastern European economies in transition, trade policies, and the development of newly industrialized countries.