{"product_id":"economic-theory-and-the-ancient-mediterranean-isbn-9781118627877","title":"Economic Theory and the Ancient Mediterranean","description":"\u003cp\u003e\u003ci\u003eEconomic Theory and the Ancient Mediterranean \u003c\/i\u003epresents a comprehensive introduction to the application of contemporary economic theory to the ancient societies of the Mediterranean Sea from the period of 5000 BCE to 400 CE.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eOffers an accessible presentation of modern economic theory and its relationships to ancient societies\u003c\/li\u003e \u003cli\u003ePresents innovative expositions and applications of economic theory to issues in antiquity not often found in the literature\u003c\/li\u003e \u003cli\u003eFeatures insightful discussions of the relevance of contemporary economic models to various situations in antiquity\u003c\/li\u003e \u003cli\u003eWritten for a broad range of scholars of ancient Mediterranean regions, including archaeologists, ancient historians, and philologists\u003c\/li\u003e \u003c\/ul\u003e  \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003eIntroduction 1\u003c\/p\u003e \u003cp\u003eRationale 1\u003c\/p\u003e \u003cp\u003eOrganization 2\u003c\/p\u003e \u003cp\u003eMethod 3\u003c\/p\u003e \u003cp\u003eReader Outcomes 3\u003c\/p\u003e \u003cp\u003eThemes 4\u003c\/p\u003e \u003cp\u003eRelevance and Applicability 5\u003c\/p\u003e \u003cp\u003eReferences 6\u003c\/p\u003e \u003cp\u003eNotes 6\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 Production 8\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 The Production Function 9\u003c\/p\u003e \u003cp\u003e1.2 The “Law” of Variable Proportions 11\u003c\/p\u003e \u003cp\u003e1.3 Substitution 13\u003c\/p\u003e \u003cp\u003e1.4 Measuring Substitution 15\u003c\/p\u003e \u003cp\u003e1.5 Specific “Functional Forms” for Production Functions 16\u003c\/p\u003e \u003cp\u003e1.6 Attributing Products to Inputs: Distributing Income from Production 17\u003c\/p\u003e \u003cp\u003e1.7 Efficiency and the Choice of How to Produce 18\u003c\/p\u003e \u003cp\u003e1.8 Predictions of Production Theory 1: Input Price Changes 20\u003c\/p\u003e \u003cp\u003e1.9 Predictions of Production Theory 2: Technological Changes 21\u003c\/p\u003e \u003cp\u003e1.10 Stocks and Flows 22\u003c\/p\u003e \u003cp\u003e1.11 The Distribution of Income 23\u003c\/p\u003e \u003cp\u003e1.12 Production Functions in Achaemenid Babylonia 25\u003c\/p\u003e \u003cp\u003eReferences 26\u003c\/p\u003e \u003cp\u003eSuggested Readings 27\u003c\/p\u003e \u003cp\u003eNotes 27\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 Cost and Supply 29\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 The Cost Function 31\u003c\/p\u003e \u003cp\u003e2.2 Short Run and Long Run 32\u003c\/p\u003e \u003cp\u003e2.3 The Relationship between Cost and Production 33\u003c\/p\u003e \u003cp\u003e2.4 Producers’ Objectives 34\u003c\/p\u003e \u003cp\u003e2.5 Supply Curves 35\u003c\/p\u003e \u003cp\u003e2.6 Demands for Factors of Production 40\u003c\/p\u003e \u003cp\u003e2.7 Factor Costs in General:Wages and Rents 41\u003c\/p\u003e \u003cp\u003e2.8 Allocation of Factors across Activities 43\u003c\/p\u003e \u003cp\u003e2.9 Organizing Production:The Firm 43\u003c\/p\u003e \u003cp\u003e2.10 A More General Treatment of Cost Functions 46\u003c\/p\u003e \u003cp\u003e2.11 The Economics of Mycenaean Vases, I: Supply and Cost 47\u003c\/p\u003e \u003cp\u003e2.12 Accounting for Apparent Cost Changes in Minoan Pottery 49\u003c\/p\u003e \u003cp\u003e2.13 Production in an Entire Economy: The Production Possibilities Frontier 50\u003c\/p\u003e \u003cp\u003eReferences 52\u003c\/p\u003e \u003cp\u003eSuggested Readings 53\u003c\/p\u003e \u003cp\u003eNotes 53\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 Consumption 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 Rationality of the Consumer 57\u003c\/p\u003e \u003cp\u003e3.2 The Budget 57\u003c\/p\u003e \u003cp\u003e3.3 Utility and Indifference Curves 58\u003c\/p\u003e \u003cp\u003e3.4 Demand 60\u003c\/p\u003e \u003cp\u003e3.5 Demand Elasticities 63\u003c\/p\u003e \u003cp\u003e3.6 Aggregate Demand 65\u003c\/p\u003e \u003cp\u003e3.7 Evaluating Changes inWellbeing 66\u003c\/p\u003e \u003cp\u003e3.8 Price and Consumption Indexes 70\u003c\/p\u003e \u003cp\u003e3.9 Intertemporal Choice 73\u003c\/p\u003e \u003cp\u003e3.10 Durable Goods and Discrete Choice 75\u003c\/p\u003e \u003cp\u003e3.11 Variety and Differentiated Goods 79\u003c\/p\u003e \u003cp\u003e3.12 Value of Time and Household Production 82\u003c\/p\u003e \u003cp\u003e3.13 Risk, Risk Aversion, and Expected Utility 86\u003c\/p\u003e \u003cp\u003e3.14 Irrational Behavior 88\u003c\/p\u003e \u003cp\u003e3.15 Fixed Prices 90\u003c\/p\u003e \u003cp\u003e3.16 Applying Demand Concepts: Relationships between Housing Consumption, Housing Prices, and Incomes in Pompeii 93\u003c\/p\u003e \u003cp\u003e3.17 The Economics of Mycenaean Vases, II: Demand 96\u003c\/p\u003e \u003cp\u003eReferences 99\u003c\/p\u003e \u003cp\u003eSuggested Readings 99\u003c\/p\u003e \u003cp\u003eNotes 100\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Industry Structure and the Types of Competition 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 Perfect Competition 104\u003c\/p\u003e \u003cp\u003e4.2 Competitive Equilibrium 106\u003c\/p\u003e \u003cp\u003e4.3 Monopoly 108\u003c\/p\u003e \u003cp\u003e4.4 Oligopoly 110\u003c\/p\u003e \u003cp\u003e4.5 Monopolistic Competition 111\u003c\/p\u003e \u003cp\u003e4.6 Contestable Markets 112\u003c\/p\u003e \u003cp\u003e4.7 Buyer’s Power: Monopsony 113\u003c\/p\u003e \u003cp\u003e4.8 The Economics of Mycenaean Vases, III: Industry Structure 114\u003c\/p\u003e \u003cp\u003e4.9 Ancient Monopoly and Oligopoly: Religion and Foreign Trade 115\u003c\/p\u003e \u003cp\u003eReferences 117\u003c\/p\u003e \u003cp\u003eSuggested Readings 118\u003c\/p\u003e \u003cp\u003eNotes 118\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 General Equilibrium 120\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 General Equilibrium as a Fact and as a Model 120\u003c\/p\u003e \u003cp\u003e5.1.1 The facts 121\u003c\/p\u003e \u003cp\u003e5.1.2 The models 121\u003c\/p\u003e \u003cp\u003e5.1.3 The questions 123\u003c\/p\u003e \u003cp\u003e5.2 TheWalrasian Model 124\u003c\/p\u003e \u003cp\u003e5.3 Exchange 127\u003c\/p\u003e \u003cp\u003e5.4 The Two-Sector Model 128\u003c\/p\u003e \u003cp\u003e5.4.1 The basics with the Lerner–Pearce diagram 128\u003c\/p\u003e \u003cp\u003e5.4.2 Growth in factor supplies 130\u003c\/p\u003e \u003cp\u003e5.4.3 Technical change 132\u003c\/p\u003e \u003cp\u003e5.5 Existence and Uniqueness of Equilibrium 133\u003c\/p\u003e \u003cp\u003e5.6 Computable General Equilibrium Models 134\u003c\/p\u003e \u003cp\u003eReferences 136\u003c\/p\u003e \u003cp\u003eSuggested Readings 137\u003c\/p\u003e \u003cp\u003eNotes 137\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Public Economics 139\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 Government in the Economy: Scope of Activities, Modern and Ancient 139\u003c\/p\u003e \u003cp\u003e6.2 Private Goods, Public Goods, and Externalities 141\u003c\/p\u003e \u003cp\u003e6.2.1 Private goods 141\u003c\/p\u003e \u003cp\u003e6.2.2 Public goods 142\u003c\/p\u003e \u003cp\u003e6.2.3 Externalities 143\u003c\/p\u003e \u003cp\u003e6.3 Raising Revenue 149\u003c\/p\u003e \u003cp\u003e6.3.1 Taxation 1: rationales and instruments 149\u003c\/p\u003e \u003cp\u003e6.3.2 Taxation 2: effects of taxes 154\u003c\/p\u003e \u003cp\u003e6.3.3 Taxation 3: tax incidence (who really pays?) 165\u003c\/p\u003e \u003cp\u003e6.3.4 Taxation 4: optimal tax systems 169\u003c\/p\u003e \u003cp\u003e6.3.5 Other revenue sources 173\u003c\/p\u003e \u003cp\u003e6.4 TheTheory of Second Best 174\u003c\/p\u003e \u003cp\u003e6.5 Government Productive Activities 175\u003c\/p\u003e \u003cp\u003e6.5.1 Public production and pricing 175\u003c\/p\u003e \u003cp\u003e6.5.2 The supply of public goods and social choice mechanisms 181\u003c\/p\u003e \u003cp\u003e6.5.3 Public investment and cost–benefit analysis 186\u003c\/p\u003e \u003cp\u003e6.6 Regulation of Private Economic Activities 191\u003c\/p\u003e \u003cp\u003e6.6.1 Rent seeking 192\u003c\/p\u003e \u003cp\u003e6.6.2 The costs of regulation: the Averch–Johnson effect 193\u003c\/p\u003e \u003cp\u003e6.7 The Behavior of Government and Government Agencies 194\u003c\/p\u003e \u003cp\u003e6.7.1 Theories of government 194\u003c\/p\u003e \u003cp\u003e6.7.2 Theories of bureaucracy 195\u003c\/p\u003e \u003cp\u003e6.7.3 Levels of government 196\u003c\/p\u003e \u003cp\u003e6.8 Suggestions for Using the Material of this Chapter 196\u003c\/p\u003e \u003cp\u003eReferences 197\u003c\/p\u003e \u003cp\u003eSuggested Readings 199\u003c\/p\u003e \u003cp\u003eNotes 199\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 The Economics of Information and Risk 202\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Risk 202\u003c\/p\u003e \u003cp\u003e7.1.1 The ubiquity of risky decisions 203\u003c\/p\u003e \u003cp\u003e7.1.2 Concepts and measurement 205\u003c\/p\u003e \u003cp\u003e7.1.3 Risk and behavior: expected utility 209\u003c\/p\u003e \u003cp\u003e7.1.4 Risk versus uncertainty: the substance of probabilities 215\u003c\/p\u003e \u003cp\u003e7.2 Information and Learning 217\u003c\/p\u003e \u003cp\u003e7.2.1 The structure of information 217\u003c\/p\u003e \u003cp\u003e7.2.2 Learning as Bayesian updating 218\u003c\/p\u003e \u003cp\u003e7.2.3 Experts and groups 223\u003c\/p\u003e \u003cp\u003e7.3 Dealing with Nature’s Uncertainty 225\u003c\/p\u003e \u003cp\u003e7.3.1 Contingent markets 225\u003c\/p\u003e \u003cp\u003e7.3.2 Portfolios and diversification 230\u003c\/p\u003e \u003cp\u003e7.4 Behavioral Uncertainty 235\u003c\/p\u003e \u003cp\u003e7.4.1 Asymmetric information: problems and solutions 236\u003c\/p\u003e \u003cp\u003e7.4.2 Strategic behavior 242\u003c\/p\u003e \u003cp\u003e7.5 Expectations 246\u003c\/p\u003e \u003cp\u003e7.5.1 The role of expectations in resource-allocation decisions 247\u003c\/p\u003e \u003cp\u003e7.5.2 Adaptive models of expectations 247\u003c\/p\u003e \u003cp\u003e7.5.3 The rational expectations hypothesis 249\u003c\/p\u003e \u003cp\u003e7.6 Competitive Behavior under Uncertainty 252\u003c\/p\u003e \u003cp\u003e7.6.1 Production behavior 252\u003c\/p\u003e \u003cp\u003e7.6.2 Search problems 253\u003c\/p\u003e \u003cp\u003e7.7 Suggestions for Using the Material of this Chapter 253\u003c\/p\u003e \u003cp\u003eReferences 254\u003c\/p\u003e \u003cp\u003eSuggested Readings 255\u003c\/p\u003e \u003cp\u003eNotes 255\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Capital 258\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 The Substance and Concepts of Capital 258\u003c\/p\u003e \u003cp\u003e8.1.1 Capital as stuff 259\u003c\/p\u003e \u003cp\u003e8.1.2 Capital in the production function 262\u003c\/p\u003e \u003cp\u003e8.1.3 Stocks, flows, and accumulation 263\u003c\/p\u003e \u003cp\u003e8.1.4 Prices and values 264\u003c\/p\u003e \u003cp\u003e8.1.5 Temporal aspects of capital 265\u003c\/p\u003e \u003cp\u003e8.1.6 Measuring capital 268\u003c\/p\u003e \u003cp\u003e8.1.7 The labor theory of value 269\u003c\/p\u003e \u003cp\u003e8.2 Quasi-Rents 270\u003c\/p\u003e \u003cp\u003e8.3 Interest Rates 272\u003c\/p\u003e \u003cp\u003e8.4 TheTheory of Capital 276\u003c\/p\u003e \u003cp\u003e8.4.1 Present and future consumption, investment, and capital accumulation 276\u003c\/p\u003e \u003cp\u003e8.4.2 Demand for and supply of capital: flows and stocks 279\u003c\/p\u003e \u003cp\u003e8.4.3 Capital richness and interest rates 283\u003c\/p\u003e \u003cp\u003e8.5 Use of Capital by Firms 284\u003c\/p\u003e \u003cp\u003e8.5.1 Investment 284\u003c\/p\u003e \u003cp\u003e8.5.2 Maintenance 287\u003c\/p\u003e \u003cp\u003e8.5.3 Scrapping and replacement 289\u003c\/p\u003e \u003cp\u003e8.6 Consumption and Saving 290\u003c\/p\u003e \u003cp\u003e8.6.1 Intertemporal utility maximization 290\u003c\/p\u003e \u003cp\u003e8.6.2 Hypotheses about consumption 291\u003c\/p\u003e \u003cp\u003e8.6.3 Individual and aggregate savings 294\u003c\/p\u003e \u003cp\u003e8.7 Capital Formation 294\u003c\/p\u003e \u003cp\u003e8.8 Suggestions for Using the Material of this Chapter 296\u003c\/p\u003e \u003cp\u003eReferences 297\u003c\/p\u003e \u003cp\u003eSuggested Readings 298\u003c\/p\u003e \u003cp\u003eNotes 298\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Money and Banking 301\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 The Services of Money 302\u003c\/p\u003e \u003cp\u003e9.1.1 Money as a medium of exchange 302\u003c\/p\u003e \u003cp\u003e9.1.2 Money as a store of value 302\u003c\/p\u003e \u003cp\u003e9.1.3 Money as a unit of account 303\u003c\/p\u003e \u003cp\u003e9.1.4 Stability of value 303\u003c\/p\u003e \u003cp\u003e9.1.5 Monetization prior to currency 303\u003c\/p\u003e \u003cp\u003e9.2 The Types of Money 304\u003c\/p\u003e \u003cp\u003e9.2.1 Commodity money 304\u003c\/p\u003e \u003cp\u003e9.2.2 Credit money 304\u003c\/p\u003e \u003cp\u003e9.2.3 One special case of credit money: bank money 305\u003c\/p\u003e \u003cp\u003e9.3 Some Preliminary Concepts 305\u003c\/p\u003e \u003cp\u003e9.3.1 The price level 305\u003c\/p\u003e \u003cp\u003e9.3.2 Inflation 306\u003c\/p\u003e \u003cp\u003e9.3.3 “Nominal” versus “real” distinctions 307\u003c\/p\u003e \u003cp\u003e9.3.4 What people in antiquity knew 309\u003c\/p\u003e \u003cp\u003e9.4 The Demand for Money 309\u003c\/p\u003e \u003cp\u003e9.4.1 Measuring money 310\u003c\/p\u003e \u003cp\u003e9.4.2 The distinctiveness of the demand for money 311\u003c\/p\u003e \u003cp\u003e9.4.3 Monetary theory and macroeconomics for ancient economies?! 312\u003c\/p\u003e \u003cp\u003e9.4.4 The neoclassical quantity theory 313\u003c\/p\u003e \u003cp\u003e9.4.5 Keynesian monetary theory 315\u003c\/p\u003e \u003cp\u003e9.4.6 The contemporary synthesis 317\u003c\/p\u003e \u003cp\u003e9.5 The Supply of Money 318\u003c\/p\u003e \u003cp\u003e9.5.1 Supply of a commodity money 320\u003c\/p\u003e \u003cp\u003e9.5.2 Creation of money by banks 323\u003c\/p\u003e \u003cp\u003e9.5.3 The banking firm 328\u003c\/p\u003e \u003cp\u003e9.5.4 Financial intermediation 332\u003c\/p\u003e \u003cp\u003e9.5.5 Exogeneity \/ endogeneity of money supply and foreign exchange 335\u003c\/p\u003e \u003cp\u003e9.5.6 Seigniorage: making money by issuing money 336\u003c\/p\u003e \u003cp\u003e9.5.7 Bimetallism 337\u003c\/p\u003e \u003cp\u003e9.6 Inflation 337\u003c\/p\u003e \u003cp\u003e9.6.1 Causes of inflation 338\u003c\/p\u003e \u003cp\u003e9.6.2 Mechanisms of inflation 339\u003c\/p\u003e \u003cp\u003e9.6.3 Consequences of inflation 340\u003c\/p\u003e \u003cp\u003e9.7 Monetary Policy 342\u003c\/p\u003e \u003cp\u003e9.7.1 The players and their motives 342\u003c\/p\u003e \u003cp\u003e9.7.2 Choice of monetary standard 343\u003c\/p\u003e \u003cp\u003e9.7.3 Influencing the supply of money 343\u003c\/p\u003e \u003cp\u003e9.7.4 Influencing the demand for money 345\u003c\/p\u003e \u003cp\u003e9.7.5 International monetary policies 345\u003c\/p\u003e \u003cp\u003e9.8 Suggestions for Using the Material of this Chapter 345\u003c\/p\u003e \u003cp\u003eReferences 345\u003c\/p\u003e \u003cp\u003eSuggested Readings 347\u003c\/p\u003e \u003cp\u003eNotes 347\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Labor 350\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10.1 Applying Contemporary Labor Models to Ancient Behavior and Institutions 350\u003c\/p\u003e \u003cp\u003e10.2 Human Capital 353\u003c\/p\u003e \u003cp\u003e10.2.1 Investment in human capital 354\u003c\/p\u003e \u003cp\u003e10.2.2 Health 356\u003c\/p\u003e \u003cp\u003e10.2.3 Guilds, occupational licensing, and entry restriction 356\u003c\/p\u003e \u003cp\u003e10.3 Labor Supply 357\u003c\/p\u003e \u003cp\u003e10.3.1 Utility analysis of individual and family labor supply 357\u003c\/p\u003e \u003cp\u003e10.3.2 Lifecycle \/ dynamic labor supply 364\u003c\/p\u003e \u003cp\u003e10.3.3 Supply of labor to activities 368\u003c\/p\u003e \u003cp\u003e10.3.4 Household production 369\u003c\/p\u003e \u003cp\u003e10.4 Labor Demand 375\u003c\/p\u003e \u003cp\u003e10.4.1 The productive enterprise’s demand for labor 376\u003c\/p\u003e \u003cp\u003e10.4.2 Derived demand 379\u003c\/p\u003e \u003cp\u003e10.5 Labor Contracts 384\u003c\/p\u003e \u003cp\u003e10.5.1 Information problems and incentives 384\u003c\/p\u003e \u003cp\u003e10.5.2 The basis of pay 385\u003c\/p\u003e \u003cp\u003e10.5.3 Sequencing of pay 387\u003c\/p\u003e \u003cp\u003e10.5.4 Compensating differentials in wages 387\u003c\/p\u003e \u003cp\u003e10.6 Migration 391\u003c\/p\u003e \u003cp\u003e10.6.1 Economic incentives for migration 392\u003c\/p\u003e \u003cp\u003e10.6.2 Consequences of migration 394\u003c\/p\u003e \u003cp\u003e10.6.3 Refugee migration 396\u003c\/p\u003e \u003cp\u003e10.6.4 Equilibrating migration flows when the wage rate doesn’t adjust 396\u003c\/p\u003e \u003cp\u003e10.7 Families 398\u003c\/p\u003e \u003cp\u003e10.7.1 Marriage 398\u003c\/p\u003e \u003cp\u003e10.7.2 Intrafamily resource allocation 405\u003c\/p\u003e \u003cp\u003e10.7.3 Children and the economics of fertility and child mortality 412\u003c\/p\u003e \u003cp\u003e10.8 Labor and the Family Enterprise 414\u003c\/p\u003e \u003cp\u003e10.8.1 The farm family household and the separability of production decisions from consumption decisions 415\u003c\/p\u003e \u003cp\u003e10.8.2 Effects of missing markets on labor allocation 418\u003c\/p\u003e \u003cp\u003e10.8.3 Restrictions on household activities 420\u003c\/p\u003e \u003cp\u003e10.8.4 Implications of the family farm model 422\u003c\/p\u003e \u003cp\u003e10.9 Slavery 423\u003c\/p\u003e \u003cp\u003e10.9.1 The supply of slaves 424\u003c\/p\u003e \u003cp\u003e10.9.2 The demand for slaves 426\u003c\/p\u003e \u003cp\u003e10.9.3 Investment in slaves 427\u003c\/p\u003e \u003cp\u003e10.9.4 Market consequences of slaves 427\u003c\/p\u003e \u003cp\u003e10.9.5 Slaves’ incentives 427\u003c\/p\u003e \u003cp\u003e10.10 Suggestions for Using the Material of this Chapter 428\u003c\/p\u003e \u003cp\u003eReferences 429\u003c\/p\u003e \u003cp\u003eSuggested Readings 432\u003c\/p\u003e \u003cp\u003eNotes 433\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11 Land and Location 440\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e11.1 The Special Characteristics of Land 440\u003c\/p\u003e \u003cp\u003e11.2 Land as a Factor of Production 441\u003c\/p\u003e \u003cp\u003e11.2.1 Supply 441\u003c\/p\u003e \u003cp\u003e11.2.2 Demand 441\u003c\/p\u003e \u003cp\u003e11.3 The Location of Land Uses 442\u003c\/p\u003e \u003cp\u003e11.3.1 TheThünen model 442\u003c\/p\u003e \u003cp\u003e11.3.2 The bid-rent function 447\u003c\/p\u003e \u003cp\u003e11.3.3 Equilibrium in a region 450\u003c\/p\u003e \u003cp\u003e11.3.4 Modifying the social context 451\u003c\/p\u003e \u003cp\u003e11.4 The Location of Production Facilities 452\u003c\/p\u003e \u003cp\u003e11.4.1 Individual facilities 452\u003c\/p\u003e \u003cp\u003e11.4.2 Industries 455\u003c\/p\u003e \u003cp\u003e11.5 Consumption and the Location of Marketing 457\u003c\/p\u003e \u003cp\u003e11.5.1 The structure of transportation costs 457\u003c\/p\u003e \u003cp\u003e11.5.2 The shopping tradeoff: frequency versus storage 458\u003c\/p\u003e \u003cp\u003e11.5.3 Aggregate demand in a spatial market 460\u003c\/p\u003e \u003cp\u003e11.5.4 Hierarchies of marketplaces: central place theory 461\u003c\/p\u003e \u003cp\u003e11.5.5 Periodic markets 462\u003c\/p\u003e \u003cp\u003e11.6 Transportation 463\u003c\/p\u003e \u003cp\u003e11.6.1 Infrastructure 463\u003c\/p\u003e \u003cp\u003e11.6.2 Equipment 465\u003c\/p\u003e \u003cp\u003e11.6.3 Pricing of transportation services 465\u003c\/p\u003e \u003cp\u003e11.7 Suggestions for Using the Material of this Chapter 467\u003c\/p\u003e \u003cp\u003eReferences 468\u003c\/p\u003e \u003cp\u003eSuggested Readings 469\u003c\/p\u003e \u003cp\u003eNotes 470\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12 Cities 472\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e12.1 Cities and their Analysis, Modern and Ancient 472\u003c\/p\u003e \u003cp\u003e12.1.1 Classifying cities 472\u003c\/p\u003e \u003cp\u003e12.1.2 Characteristics of cities 473\u003c\/p\u003e \u003cp\u003e12.1.3 What goes on in cities 473\u003c\/p\u003e \u003cp\u003e12.1.4 Ancient observations and contemporary analytical emphases 474\u003c\/p\u003e \u003cp\u003e12.2 Economies of Cities 475\u003c\/p\u003e \u003cp\u003e12.2.1 Scale economies in production 475\u003c\/p\u003e \u003cp\u003e12.2.2 Externalities 477\u003c\/p\u003e \u003cp\u003e12.2.3 Types of production 477\u003c\/p\u003e \u003cp\u003e12.3 Housing 479\u003c\/p\u003e \u003cp\u003e12.3.1 The Special Characteristics of Housing 479\u003c\/p\u003e \u003cp\u003e12.3.2 Housing supply 480\u003c\/p\u003e \u003cp\u003e12.3.3 Housing demand 481\u003c\/p\u003e \u003cp\u003e12.4 Urban Spatial Structure 482\u003c\/p\u003e \u003cp\u003e12.4.1 The monocentric city model 483\u003c\/p\u003e \u003cp\u003e12.4.2 Multiple categories of residents 488\u003c\/p\u003e \u003cp\u003e12.4.3 Working at home 489\u003c\/p\u003e \u003cp\u003e12.4.4 Endogenous centers 490\u003c\/p\u003e \u003cp\u003e12.4.5 Density gradients and the ancient city 491\u003c\/p\u003e \u003cp\u003e12.4.6 Wage differentials across cities 491\u003c\/p\u003e \u003cp\u003e12.5 Systems of Cities 492\u003c\/p\u003e \u003cp\u003e12.5.1 Production and consumption within any city 493\u003c\/p\u003e \u003cp\u003e12.5.2 Different types of cities 497\u003c\/p\u003e \u003cp\u003e12.5.3 The city size distribution and its responses to various changes 499\u003c\/p\u003e \u003cp\u003e12.6 Urban Finance 503\u003c\/p\u003e \u003cp\u003e12.6.1 Local public goods 504\u003c\/p\u003e \u003cp\u003e12.6.2 What to supply and how much 505\u003c\/p\u003e \u003cp\u003e12.6.3 Raising revenue 506\u003c\/p\u003e \u003cp\u003e12.7 Suggestions for Using the Material of this Chapter 507\u003c\/p\u003e \u003cp\u003eReferences 508\u003c\/p\u003e \u003cp\u003eSuggested Readings 510\u003c\/p\u003e \u003cp\u003eNotes 511\u003c\/p\u003e \u003cp\u003e\u003cb\u003e13 Natural Resources 516\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e13.1 Exhaustible Resources 517\u003c\/p\u003e \u003cp\u003e13.1.1 The theory of optimal depletion 517\u003c\/p\u003e \u003cp\u003e13.1.2 Different deposits 520\u003c\/p\u003e \u003cp\u003e13.1.3 Uncertainty 521\u003c\/p\u003e \u003cp\u003e13.1.4 Exploration 521\u003c\/p\u003e \u003cp\u003e13.1.5 Monopoly 523\u003c\/p\u003e \u003cp\u003e13.2 Renewable Resources 524\u003c\/p\u003e \u003cp\u003e13.2.1 Biological growth 524\u003c\/p\u003e \u003cp\u003e13.2.2 Harvesting 525\u003c\/p\u003e \u003cp\u003e13.2.3 The theory of optimal use 527\u003c\/p\u003e \u003cp\u003e13.2.4 Open access and the fishery 528\u003c\/p\u003e \u003cp\u003e13.3 Resource Scarcity 531\u003c\/p\u003e \u003cp\u003e13.4 The Ancient Mining-Forestry Complex 531\u003c\/p\u003e \u003cp\u003e13.5 Suggestions for Using the Material of this Chapter 532\u003c\/p\u003e \u003cp\u003eReferences 533\u003c\/p\u003e \u003cp\u003eSuggested Readings 533\u003c\/p\u003e \u003cp\u003eNotes 533\u003c\/p\u003e \u003cp\u003e\u003cb\u003e14 Growth 535\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e14.1 Introduction 535\u003c\/p\u003e \u003cp\u003e14.1.1 Economic growth: delimiting the scope 535\u003c\/p\u003e \u003cp\u003e14.1.2 Growth in antiquity: is there anything to explain? 536\u003c\/p\u003e \u003cp\u003e14.2 Essential Concepts 536\u003c\/p\u003e \u003cp\u003e14.2.1 Production functions again 536\u003c\/p\u003e \u003cp\u003e14.2.2 Technical change 537\u003c\/p\u003e \u003cp\u003e14.2.3 Growth versus development 537\u003c\/p\u003e \u003cp\u003e14.3 Neoclassical GrowthTheory 538\u003c\/p\u003e \u003cp\u003e14.3.1 The Solow model 538\u003c\/p\u003e \u003cp\u003e14.3.2 Technology and growth in the Solow model 541\u003c\/p\u003e \u003cp\u003e14.3.3 Endogenizing technical change 543\u003c\/p\u003e \u003cp\u003e14.3.4 Extent of the market, division of labor, and productivity 545\u003c\/p\u003e \u003cp\u003e14.4 Structural Change 546\u003c\/p\u003e \u003cp\u003e14.4.1 Sectoral concepts as organizing devices 546\u003c\/p\u003e \u003cp\u003e14.4.2 A two-sector model of an economy 548\u003c\/p\u003e \u003cp\u003e14.4.3 Some stylized facts 549\u003c\/p\u003e \u003cp\u003e14.5 Institutions 551\u003c\/p\u003e \u003cp\u003e14.5.1 Property rights 552\u003c\/p\u003e \u003cp\u003e14.5.2 Governments 552\u003c\/p\u003e \u003cp\u003e14.5.3 Stability and change 553\u003c\/p\u003e \u003cp\u003e14.6 Studying Economic Growth in Antiquity 553\u003c\/p\u003e \u003cp\u003e14.6.1 What there is to explain 554\u003c\/p\u003e \u003cp\u003e14.6.2 Organizing inquiry about economic growth with the help of growth theory 554\u003c\/p\u003e \u003cp\u003e14.6.3 Studying episodes of growth following declines: beyond growth theory 557\u003c\/p\u003e \u003cp\u003e14.6.4 Summary 559\u003c\/p\u003e \u003cp\u003e14.7 Suggestions for Using the Material of this Chapter 559\u003c\/p\u003e \u003cp\u003e14.7.1 Evidence of growth 559\u003c\/p\u003e \u003cp\u003e14.7.2 Sectoral structure 561\u003c\/p\u003e \u003cp\u003eReferences 561\u003c\/p\u003e \u003cp\u003eSuggested Readings 564\u003c\/p\u003e \u003cp\u003eNotes 564\u003c\/p\u003e \u003cp\u003eIndex 569\u003c\/p\u003e \u003cp\u003e\"It is a majestic manual on economics...covering basically the full spectrum of standard economic theory. ...[T]he book is a powerful, even if advanced tool, to develop an understanding of economic theories.\" \u003ci\u003e(Nordicum-Mediterraneum, 1 January 2015)\u003c\/i\u003e\u003c\/p\u003e  \u003cb\u003eDonald W. Jones\u003c\/b\u003e is Adjunct Professor of Classics, University of Tennessee, and is also an economic consultant involved with demand forecasting and energy economics.  He is the author of \u003ci\u003eExternal Relations of Early Iron Age Crete, 1100-600 B.C.\u003c\/i\u003e (2000) and co-editor of \u003ci\u003eMeasuring the Full Costs and Benefits of Transpiration\u003c\/i\u003e (1997).  \u003cp\u003e\u003ci\u003eEconomic Theory and the Ancient Mediterranean\u003c\/i\u003e presents a comprehensive introduction to the application of contemporary economic theory to the various societies populating the ancient regions surrounding the Mediterranean Sea from 5000 BCE to 400 CE.\u003c\/p\u003e \u003cp\u003eWritten for a broad range of scholars, this accessible reference provides an explanation of the core principles of economic theory and then goes on to address a variety of interrelated research topics in the economies of ancient Mediterranean societies. Throughout the text, examples from the literature vividly demonstrate the relevance of current economic models in the study of antiquity  through implicit and explicit application—not just within Mediterranean societies, but throughout the ancient world.\u003c\/p\u003e \u003cp\u003eInnovative and thought-provoking, \u003ci\u003eEconomic Theory and the Ancient Mediterranean\u003c\/i\u003e offers enlightening insights into the relevance of contemporary economic models to a broad range of research topics relating to the study of antiquity.\u003c\/p\u003e","brand":"Wiley-Blackwell","offers":[{"title":"Default Title","offer_id":47989101986021,"sku":"NP9781118627877","price":231.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118627877.jpg?v=1761782804","url":"https:\/\/k12savings.com\/es\/products\/economic-theory-and-the-ancient-mediterranean-isbn-9781118627877","provider":"K12savings","version":"1.0","type":"link"}