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The theory of the firm microeconomics with endogenous
enterprises firms markets and organizations 1st Edition
Daniel F Spulber Digital Instant Download
Author(s): Daniel F Spulber
ISBN(s): 9780521736602, 0521736609
Edition: 1
File Details: PDF, 3.82 MB
Year: 2009
Language: english
 THE THEORY OF THE FIRM: MICROECONOMICS WITH
ENDOGENOUS ENTREPRENEURS, FIRMS, MARKETS, AND
ORGANIZATIONS

The Theory of the Firm presents a path-breaking general framework for

understanding the economics of the firm. The book addresses why firms
exist, how firms are established, and what contributions firms make to the
economy. The book presents a new theoretical analysis of the foundations
of microeconomics that makes institutions endogenous. Entrepreneurs
play a central economic role by establishing firms. In turn, firms create and
operate markets and organizations. The book provides innovative models
of economic equilibrium that endogenously determine the structure and
function of economic institutions. The book proposes an “intermedia-
tion hypothesis” – the establishment of firms depends on the effects of
transaction costs and on the extent of the market.

Daniel F. Spulber is the Elinor Hobbs Distinguished Professor of Interna-

tional Business and Professor of Management Strategy at Northwestern
University’s Kellogg School of Management and the founder of Kellogg’s
International Business and Markets Program. He is the founding editor of
the Journal of Economics and Management Strategy. His current research
is in the areas of entrepreneurship, international economics, economics
of organizations, industrial organization, management strategy, and law.
Spulber is the author of 11 books, including Networks in Telecommunica-
tions: Economics and Law (with Christopher Yoo, 2009), Global Competi-
tive Strategy (2007), Market Microstructure: Intermediaries and the Theory
of the Firm (1999), and Deregulatory Takings and the Regulatory Contract:
The Competitive Transformation of Network Industries in the United States
(with J. Gregory Sidak, 1997), all from Cambridge University Press, and
Management Strategy (2004), The Market Makers (1998), and Regulation
and Markets (1989), from other publishers.
 The Theory of the Firm
Microeconomics with Endogenous
Entrepreneurs, Firms, Markets, and
Organizations

Daniel F. Spulber
Northwestern University
 CAMBRIDGE UNIVERSITY PRESS
Cambridge, New York, Melbourne, Madrid, Cape Town, Singapore, São Paulo, Delhi

Cambridge University Press

32 Avenue of the Americas, New York, NY 10013-2473, USA
[Link]
Information on this title: [Link]/9780521736602

© Daniel F. Spulber 2009

This publication is in copyright. Subject to statutory exception

and to the provisions of relevant collective licensing agreements,
no reproduction of any part may take place without the written
permission of Cambridge University Press.

First published 2009

Printed in the United States of America

A catalog record for this publication is available from the British Library

Library of Congress Cataloging in Publication data

Spulber, Daniel F.
The theory of the firm : microeconomics with endogenous entrepreneurs,
firms, markets, and organizations / Daniel F. Spulber.
p. cm.
Includes bibliographical references and index.
ISBN 978-0-521-51738-6 (hbk.) – ISBN 978-0-521-73660-2 (pbk.)
1. Industrial organization (Economic theory) I. Title.
HD2326.S723 2009
338.501 – dc22 2008039228

ISBN 978-0-521-51738-6 hardback

ISBN 978-0-521-73660-2 paperback

Cambridge University Press has no responsibility for the persistence or

accuracy of URLs for external or third-party Internet Web sites referred to in
this publication and does not guarantee that any content on such Web sites is,
or will remain, accurate or appropriate. Information regarding prices, travel
timetables, and other factual information given in this work are correct at
the time of first printing, but Cambridge University Press does not guarantee
the accuracy of such information thereafter.
 Contents

Preface and Acknowledgments page ix

Introduction 1

PART I. THE THEORY OF THE FIRM

1 The Consumer 11
1.1 The Intermediation Hypothesis and the Scope of the Firm 12
1.2 Consumer Characteristics 26
1.3 Consumer Cooperation and Transaction Benefits 28
1.4 Consumer Coordination and Transaction Costs 35
1.5 Consumer Organizations and the Separation Criterion 40
1.6 Conclusions 61

2 The Firm 63
2.1 The Separation Criterion 64
2.2 Firms Create and Manage Markets 76
2.3 Firms Create and Manage Organizations 88
2.4 The Development of the Firm 102
2.5 The Social, Legal, and Political Context of the Firm 117
2.6 Conclusions 123

3 The Separation of Consumer Objectives and Firm Objectives 125

3.1 The Neoclassical Separation Theorem 127
3.2 The Separation Theorem with Price-Setting Firms 132
3.3 The Fisher Separation Theorem 136
3.4 The Fisher Separation Theorem with Price-Setting Firms 142
3.5 Conclusions 147

v
vi Contents

PART II. THE ENTREPRENEUR IN EQUILIBRIUM

4 The Entrepreneur 151

4.1 A Dynamic Theory of the Entrepreneur 153
4.2 The Entrepreneur’s Decisions and the Foundational
Shift 163
4.3 Type I Competition: Competition among
Entrepreneurs 175
4.4 Type II Competition: Competition between Entrepreneurs
and Consumer Organizations 177
4.5 Type III Competition: Competition between Entrepreneurs
and Established Firms 179
4.6 The Classical Theory of the Entrepreneur 186
4.7 Conclusions 196

5 Competition among Entrepreneurs 197

5.1 Set-Up Costs 198
5.2 Investment 205
5.3 Time Preferences 212
5.4 Risky Projects 214
5.5 Risk Aversion 219
5.6 Endowments and Incentives for Effort 223
5.7 Conclusions 226

PART III. HUMAN CAPITAL, FINANCIAL CAPITAL, AND

THE ORGANIZATION OF THE FIRM

6 Human Capital and the Organization of the Firm 231

6.1 The Worker Cooperative versus the Firm 232
6.2 Hiring Workers with Diverse Abilities 237
6.3 Hiring with Moral Hazard in Teams 242
6.4 Market Contracts versus Organizational Contracts 247
6.5 Hiring by the Firm versus a Cooperative with Open
Membership 256
6.6 Conclusions 262

7 Financial Capital and the Organization of the Firm 263

7.1 The Basic Model 264
7.2 The Corporation in Equilibrium 268
7.3 The Partnership in Equilibrium 276
7.4 Market Equilibrium and Organizational Form 283
7.5 Conclusions 290
 Contents vii

PART IV. INTERMEDIATION BY THE FIRM

8 The Firm as Intermediary in the Pure-Exchange Economy 295

8.1 The Firm and Money 296
8.2 The Firm and the Absence of a Double Coincidence
of Wants 302
8.3 The Firm and Market Clearing 308
8.4 The Firm and Time 310
8.5 The Firm and Distance 315
8.6 The Firm and Risk 322
8.7 Conclusions 328

9 The Firm versus Free Riding 329

9.1 The Firm and Economies of Scale 331
9.2 The Firm and Public Goods 347
9.3 The Firm and Common-Property Resources 355
9.4 Conclusions 362

PART V. MARKET MAKING BY THE FIRM

10 The Firm Creates Markets 367

10.1 Market Making and Matchmaking by the Firm:
Overview 368
10.2 Market Making by the Firm versus Consumer Search 380
10.3 Matchmaking by the Firm versus Consumer Search 388
10.4 Competition between Market-Making Firms 391
10.5 Competition between Market-Making Firms:
Characterization of Equilibrium 404
10.6 Conclusions 415

11 The Firm in the Market for Contracts 417

11.1 Contracts and Incentives to Invest: Firms Create
Markets 419
11.2 Moral Hazard: Firm Management of Tournaments
versus Bilateral Agency Contracts 440
11.3 Adverse Selection: The Firm Monitors Performance 447
11.4 Adverse Selection: The Firm Certifies Quality 451
11.5 Conclusions 456

12 Conclusion 458
12.1 The Firm 458
12.2 The Entrepreneur 460
viii Contents

12.3 The Intermediation Hypothesis 462

12.4 Markets and Organizations 463

References 465
Author Index 503
Subject Index 511
 Preface and Acknowledgments

This book presents a general theory of the firm. The Theory of the Firm seeks
to explain (1) why firms exist, (2) how firms are established, and (3) what firms
contribute to the economy. The book addresses the foundations of microeconomics
by making institutions endogenous. In the models presented in the book, the
following are endogenous: entrepreneurs, firms, markets, and organizations.
The general theory of the firm begins with the individual consumer. The charac-
teristics of consumers are the theory’s exogenous data. Consumers can do practically
anything without firms. Consumers can produce goods and services by operating
technology. Consumers can transact directly with each other through bilateral
exchange. Finally, consumers can form organizations such as clubs, buyers’ coop-
eratives, workers’ cooperatives, and basic partnerships.
The firm is an economic institution that differs fundamentally from a consumer
organization. This book introduces a new definition of the firm that is highly useful
in developing the theory: The firm is a transaction institution whose objectives are
separate from those of its owners. Consumer organizations such as clubs and basic
partnerships are not firms. The objectives of consumer organizations cannot be
separated from those of their owners.
Why do firms exist? The Theory of the Firm shows that firms exist only when they
improve the efficiency of economic transactions. The efficiency of firms is compared
to the alternative of direct exchange between consumers. Direct exchange between
consumers involves search, bargaining, barter, and contracts. Direct exchange
between consumers also can involve forming consumer organizations. To be eco-
nomically viable, firms must improve on the efficiency of what consumers can
achieve without firms.
How are firms established? Individual consumers can choose to become
entrepreneurs and establish firms. The Theory of the Firm thus makes the
entrepreneur endogenous in microeconomics. Because entrepreneurs establish
firms, the firm also is endogenous in microeconomics. Entrepreneurs and firms
arise based on the underlying characteristics of consumers who possess the judg-
ment, knowledge, skills, and technology that are needed to set up a firm. Individuals
ix
x Preface and Acknowledgments

provide the effort, investment, and planning that are needed to start up a business.
If firms will enhance economic efficiency, entrepreneurs can earn a return from
establishing a firm.
What do firms contribute to the economy? Firms are institutions that coordi-
nate transactions by acting as intermediaries. Among the many instruments that
firms use to coordinate transactions are two major ones. First, firms intermediate
exchange by creating and operating markets. This makes markets endogenous in
the theory of the firm. Firms create markets by marketing and selling goods and
services, by setting up facilities such as stores and Web sites, and by arranging
exchanges for commodities and financial assets. Firms adjust prices to balance their
purchases and sales and thereby clear markets. Second, firms create and manage
organizations that employ personnel and financial capital; intermediate transac-
tions; internally allocate capital, labor, and resources, and carry out production.
This makes organizations endogenous in the theory of the firm.
The theory of the firm constitutes a unified field with its own set of questions.
The analysis departs from the neoclassical general equilibrium framework that takes
both firms and markets as given exogenously and that does not consider either
entrepreneurs or organizations. The theory of the firm incorporates advances
in the study of firms from industrial organization, contract theory, game theory,
law and economics, institutional economics, the economics of organizations, and
finance.
The general theory of the firm is not based on a specific “silver bullet” theory of
why firms exist. The general theory of the firm includes the full range of transaction
costs, including the absence of a double coincidence of wants, communication costs,
search costs, bargaining costs, moral hazard, adverse selection, contracting costs,
and free riding.
Microeconomics seeks to address the purpose and functions of firms, mar-
kets, and organizations. Understanding why firms exist, how firms are established,
and what firms contribute to the economy is essential to this task. The framework
develops some critical empirical implications that require further investigation. In
addition, the general theory of the firm helps to understand management decision
making. The field of management strategy seeks to develop policies for man-
agers, which require a framework that can evaluate the effectiveness of alternative
strategies.
A general theory of the firm also is useful for teaching economics. Economics
courses, including principles of economics, intermediate microeconomics, and
graduate microeconomics, rarely mention entrepreneurship. In the neoclassical
economics course, firms and markets are given exogenously. Firms lack an explicit
organizational structure and are fully described by their production technology.
Markets are operated by an invisible hand. Students are often perplexed, because
firms are said to be price-takers and yet, at the same time, firms often are said to
adjust prices in response to surpluses or shortages, an obvious contradiction to
price-taking behavior. The theory of the firm contributes to teaching economics
Other documents randomly have
different content
King Kojong of the Late Yi Dynasty of Korea

Paul Georg von Mollendorff in the Costume

of Korean Nobility, 1882-1885
Von Möllendorff's Residence at Pakdong in Seoul
Paul Georg von Mòllendorfjal theAge of Tìvelve

Von Móllendorff as German Vice-Consul at

Tientsin in 1879
Von Mollendorjf in China, sometime after returning
from Korea in 1885

Von Möllendorjf's Grave at a Cemetery in Shanghai

 Ch. 

 One of them opened his sack to give his donkey fodder at the
lodging place and he saw his money put on top of his load.
 He said to his brothers, “My money has been returned. Look, it is on
top of my load.” Their hearts quaked. Each one looked astonished at
his brother and said, “What is this that God has done to us?”
 They came to their father Jacob in the land of Canaan and they
recounted to him everything that had happened to them and said to
him,
 “The man, the lord of the land, spoke with us harshly. He considered
us spies of the land.
 We said to him, ‘We are upright; we are not spies.
 We are twelve brothers, sons of our father, but one is no longer. The
youngest is with our father today in the land of Canaan.’
 The man, the lord of the land, said to us, ‘By this I will know that you
are upright: leave one of your brothers with me. Take the produce for
the famished of your households and go.
 Then bring your youngest brother to me and I will know that you are
not spies, but that you are upright. I will give back your brother to
you and you can do business in the land.’”
 When they were emptying their sacks, there was the money-bag of
each of them on top of their load. They and their father looked at
their money-bags and became afraid.
 Their father Jacob said to them, “You have left me destitute. Joseph
is no longer. Simeon is no longer. You will take Benjamin. All these
things end badly for me.”
 Rubel said to his father, “You can put to death my two sons if I do
not bring him back to you. Hand him over to me and I will return
him to you.”
 He said, “My son will not go down with you for his brother is dead.
He alone remains for his mother. 1 Misfortune could happen to him
on the way that you are going and you will bring down my old age in
misery to Sheol.”

1 Absent in the MT.


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 Ch. 

 Joseph said to them, “It is as I said to you. You are spies.

 You will be put to the test in this way: not 1 on Pharaoh’s life you will
not leave here unless your youngest brother comes here.
 Send one of you and let him bring your brother. But you remain
imprisoned. Then your words will be tested as to whether you have
spoken 2 truly, if not, on Pharaoh’s life, 3 you are spies.”
 He put them in prison for three days.
 On the third day Joseph said to them, “Do this and you will live. I
fear God.
 If you are upright, let one of your brothers remain in your
imprisonment, but you go and bring back the produce for the
famished in your households.
 Bring your youngest brother to me and your words will be confirmed
and you will not die.” They did accordingly.
 They said to one another, “We are truly guilty over our brother for
we saw his anguish when he pleaded with us but we did not listen to
him. This is why this distress has befallen us.”
 Rubel answered and said to them, “Did I not say to you, ‘Do not sin
against the youth’? But you did not listen and now his blood is
avenged.”
 They did not know that Joseph was listening because the translator
was standing between them.
 He turned away from them and wept. Then he returned to them and
spoke with them. He took Simeon from among them and bound him
before their eyes.
 As they filled their containers with produce, Joseph gave orders to
put back the money of each man in his sack and to give them
provisions for the journey. They did so for them.
 They loaded their produce on their donkeys and departed.
 

1 The Peshiṭta adds the negator. See the Introduction: Divergent Readings.
2 Absent in the MT.
3 The Peshiṭta has an awkward translation because Joseph swears on Pharaoh’s life,

as if Pharaoh were a god. See the Introduction: Divergent Readings.


 ŏ ł Ņ
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Ɖ 
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ŏ ł Ņň ŏ ň œ ò ł ł Ņ ň ŏœ ł ň Ņ œ ŏ œ ň
.ķĭƦ œ ô ƌĥťƣň Ŵò Ƥŏ ū ŔŅ ƧĥķŴ  ƕƢ  ƘŔ ĪIJĬô Ŵ əŶ  Ƨķĥĭ :ķĭŁƢ Ɖ  ĥ ŦƦƣŴ  Ơ Ũ ķĥ
Ņ Ņ œ Ņ ŏ ň Ō ł
.ƎƀƉ Ō ŴòɖŦ
ł Ʀ Ŕ Ɔ  Ł :ťƀƣŴ  ũŶ Ŕ Ʀƀ Ŕ Ũňœ ķŴƌŏĥ ƁƉĿĥ  ĭ ŵſ 
ł Ņ Ō Ņ ł œ ň ł ŏ
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 ſķĭ  ųɝƢ  Ɖĥ ł ĭň Ÿɖ 
ŏ ł ł ŏ ł ň ň
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ł ł
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ŏ Ņ ł ł Ņ ŏ ŏ Ŕ Ŷŏ Ƨłĭ Ĵ
:ķĭŁŴŔ ÿ Ɖŏ Ł Ŕ ƧĭķŴ  ÿ Ƅŏ œ ɛò ˁ  ł ƉƎ ň ÿ ƍƊ Ņ ò ſĬł Ʀ Ŕ ňƌĭ
 :IJô ŁŔŴÿ Ņ ÿɝ ĭƦÿ œ ÿſĥŧ ĿŴ  ÿ ƕĮķŴÿ ƃŴ 
.ťƍŅƃłŔĬŅ ĭô űŔũƕ łŔ ĭł
ŏ ł ł
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Ņ ň ŏ Ņ
Ǝÿƀł Ƈƕ ŒŁŔ ŁŔ ĥť  ÿƌŅ Ĭƈ Ņ ÿźƉ ň :IJųô ÿƀƍƖ Ņ Ɗƣ
ł ƧĭƎ  ÿƆŦ ł ĭŅĬ ƚ
ô  Ŕ Ƥł ƃłœƦ Ŕ Ɖ ň űŔƃłœ :ųƤň ƙŔ ƌłĪŔ
Ņ
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 :ťÿƀˁ
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ň Ŕ Ŀť Ņ ĭł Ūƃ 
ŏ ł
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ň ł ŏ ŌƕűŔŅſ Ņ
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 Ŕ ƏŴ ô  ƧķŴ  ÿÿƌŏ Ĭĭ ň ŭƃ 
.ķĭĬŏ Ʀ Ŕ ƍƀŅ ŨłŔ
ň ł
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.ķĭųŏ ƀòɫł ŌƖɝĬ  ƢƏĥ ň ĭł :ķŴƖƊ ŏ ƤƆķĭ ň ŏ Ɖ
ųƍ ň
Ƣÿũł Ŕ ū  œ ķĭųŏ ÿƙƐ œ ƃňŔ ŴÿƄŏ Ŕ Ƙų Ņœ Ɗ ł Ɔĭł :ŧ ĿŴ Ņ ÿũƕķĭ ŏŔ ųŏ ÿƀò ɧłŤƉ Ņ ŴÿłƇƉĭł ƚ  Ŕ ƏŴ ň łſ űŔƠł ƘŔ ĭł ųƃ 
ŏ Ņ ł ň ł ň ł œ
.ťƍŅƃł Ŕ Ĭķĭ
Ņ ųɝ ŏ ĭô űŔũƕ łŔ ĭł :ťŶĿĭ Ņ Ƨŧ  ĪňŔĭò Į ķĭųɝĵ ŏ œ ƊƆ
Ʀ  ĭ :ųƠƐ  Ũ
łŅ œ ň łƕķĭĬĿŴ
. ƎƉ  Ł ƎƉ  Ŵô ƆĮĥł ĭň :ķĭĬŏ ǔƊŶƈ ň ŏ ũƕ ŏ Ŕ Ŵô ƇƠƣ ł ĭł Ŵƃ 


52 2. Biomass—a resource for environmental bioremediation and bioenergy

TABLE 2.9 SWOT analysis of biorefineries processes (de Jong et al., 2009).
Strengths Weaknesses

• adds value to the sustainable use of biomass • broad undefined and unclassified area
• maximizes biomass conversion efficiency—minimizing • needs involvement of stakeholders from different market
raw material requirements sectors (agro, energy, chemical, etc.) over the full
• produces a spectrum of bio-based products (food, feed, biomass value chain
materials, chemicals) and bioenergy (fuels, power, and/or • most promising biorefinery processes/concepts not clear
heat) feeding the full bio-based economy • most promising biomass value chains, including
• strong knowledge of infrastructure available to tackle any current/future market volumes/prices, not clear
nontechnical and technical issues potentially hindering • still at a stage of studying and concept development
the deployment trajectory instead of real market implementation
• is not new, and in some market sectors (food, paper, etc.) • variability of quality and energy density of biomass
it is common practice

Opportunities Threats
• make a significant contribution to sustainable • biorefinery is seen as hype that still has to prove its
development benefits in the real market
• challenging national, European and global policy goals— • economic change and drop in fossil fuel prices
international focus on sustainable use of biomass for the • fast implementation of other renewable energy
production of bioenergy technologies filling market needs
• biomass availability is limited so the raw material should • no level playing field concerning bio-based products and
be used as efficiently as possible—that is, development of bioenergy (assessed to a higher standard)
multipurpose biorefineries in a framework of scarce raw • global, national and regional availability and
materials and energy contractibility of raw materials (e.g., climate change,
• international development of a portfolio of biorefinery policies, and logistics)
concepts, including designing technical processes • high investment capital for pilot and demonstration
• strengthening of the economic position of various market initiatives difficult to find, and existing industrial
sectors (e.g., agriculture, forestry, chemical, and energy) infrastructure is not depreciated yet
• fluctuating (long-term) governmental policies
• questioning of food/feed/fuels (land use competition)
and sustainability of biomass production
• goals of end users often focused upon single product

Reproduced with the permission of IEA Bioenergy Task Leader, Dr. Ed de Jong.

action and/or importance in time (agricultural because these systems are characterized by
development, raw material costs, production some particularities that need to be considered
scale, competing markets evolution, their in evaluating the processes on an LCA basis
demands and access, waste recovery and recy- and to ensure correct results in terms of eco-
cling alternatives, storage and production costs, efficiency (e.g., sometimes it is not obvious
distribution costs, etc.), which could be associ- which product should be the main output)
ated with the components of a complex system (Hong Chua and Steinmuller, 2010; Laser et al.,
with various boundaries (Fig. 2.17) (Demirbas, 2009). Further the system boundaries could be
2010; Kim and Dale,2005). different if the biorefineries are nonintegrated
Life Cycle Assessment (LCA) is an espe- or integrated and this can determine the selec-
cially useful tool to investigate the envi- tion of system boundaries, which could also
ronmental performance of product and/or affect the eco-efficiency results, while alloca-
technologies. The problem to be solved in tion issues in particular are both important
the case of biorefineries is not a simple one, and somewhat controversial (Fig. 2.12). A very

Recent Developments in Bioenergy Research

 2.9 Biorefinery eco-efficiency 53
FIGURE 2.16 Integration of eco-
nomic analysis and environmental
impact for eco-efficiency. Abiotic
resources depletion potential (ADP),
Global warming potential (GWP),
Ozone layer depletion potential (ODP),
Photochemical oxidation potential
(POCP), Human toxicity potential
(HTP), Ecological toxicity potential
(ETP), Acidification potential (AP),
Eutrophication potential (EP), Net
Present Value (NPV), Internal Rate of
Return (IRR).

FIGURE 2.17 Boundaries of an integrated biorefinery system (Kim and Dale, 2005). Source: Reproduced with the permis-
sion of the author of PowerPoint presentation, Prof. Bruce E. Dale.

common approach considers that all biomass is manipulation of data and opportunities for sys-
local, since this could improve the selection of tem integration and waste utilization could be
crops and cropping systems for local biorefi- better exploited (Kim and Dale, 2005). The func-
neries, reduces opportunities for agenda-driven tional unit could be chosen as unit area of land

Recent Developments in Bioenergy Research

TABLE 2.10 Main eco-efficiency indicators for biorefineries (Hong Chua and Steinmuller, 2010; Pereira et al., 2018; Silalertruksa et al., 2015).

Eco-efficiency
indicators Equation Terms

Overall
P
Biorefinery energy EETEC;i 5 PRi = TECi 5 PRi =ðRECI 1 RECII 1 RECIII 1 NRECI 1 NRECII 1 NRECIII Þ PRi , total profit from all productions sold (country
consumption (EETEC,i) currency)
P
Biorefinery material EETMC;i 5 PRi = TMCi 5 PRi =ðRMCI 1 RMCII 1 RMCIII 1 NRMCI 1 NRMCII 1 NRMCIII Þ NRECi , total nonrenewable energy consumption of
consumption (EETMC,i) biorefinery
P
Biorefinery GHG EEGHG;i 5 PRi = GHGi 5 PRi =ðGHGI 1 GHGII 1 GHGIII Þ RECi , total renewable energy consumptio
emissions (EEGHG,i)
P
Biorefinery EEAP;i 5 PRi = APi 5 PRi =ðAPI 1 APII 1 APIII Þ n of biorefinery (megajoules)
acidification emissions
(EEAP,i)
P
Biorefinery EEEP;i 5 PRi = EPi 5 PRi =ðEPI 1 EPII 1 EPIII Þ RMCi , total renewable material consumption of
eutrophication biorefinery (kg)
emissions (EEEP,i)
NRMCi , total nonrenewable material consumption of
biorefinery (kg)

GHGi , total greenhouse gas emissions of biorefinery

(kg)

APi , total acidification emissions of biorefinery (kg)

EPi , total eutrophication emissions of biorefinery (kg)

Energy consumption
P
Total energy EETEC;ij 5 PRij = TECij 5 PRij =ðRECI 1RECII 1RECIII 1NRECI 1NRECII 1NRECIII Þj PRij , allocated profit from productions sold (country
consumption (EETEC;ij) currency)
P
Nonrenewable energy EENRE;ij 5 PRij = NRECij 5 PRij =ðNRECI 1NRECII 1NRECIII Þj NRECij , allocated nonrenewable energy consumption
consumption (EENRE;ij) associated with the production of bioproduct from
  feedstock and biorefinery integration levels
Renewable energy EEREC;ij 5 EETEC 1=EETEC 2 1=EENRE 3 100%
(Megajoules)
consumption rate
(EEREC;ij) RECij , allocated renewable energy consumption
associated with the production of bioproduct and
biorefinery integration levels (Megajoules)
Material consumption
P
Total material EETMC;ij 5 PRij = TMCij 5 PRij =ðRMCI 1RMCII 1RMCIII 1NRMCI 1NRMCII 1NRMCIII Þj PRij , allocated profit from productions sold (country
consumption currency)
(EETMC;ij)
P
Nonrenewable EENRM;ij 5 PRij = NRMCij 5 PRij =ðNRMCI 1NRMCII 1NRMCIII Þj RMCij , allocated renewable materials consumption
material consumption associated with the production of bioproduct and
(EENRM;ij) biorefinery integration levels (kg)
 
Renewable material EERMC;ij 5 EETMC 1=EETMC 2 1=EENRM 3 100% NRMCij , allocated nonrenewable materials
consumption rate consumption associated with the production of
(EERMC;ij) bioproduct and biorefinery integration levels (kg)

Greenhouse gases
P
Greenhouse gas EEGHG;ij 5 PRij = GHGij 5 PRij =ðGHGI 1GHGII 1GHGIII Þj PRij , allocated profit from productions sold (country
emissions (EEGHG) currency)

GHGij , allocated greenhouse gas emissions associated

with the production of bioproduct and biorefinery
integration levels (kg)

Acidification potential
P
Acidification EEAP;ij 5 PRij = APij 5 PRij =ðAPI 1APII 1APIII Þj PRij , allocated profit from productions sold (country
emissions (EEAP) currency)

APij , allocated acidification emissions associated with

the production of bioproduct and biorefinery
integration levels (kg SO2 equivalent)

Eutrophication potential
P
Eutrophication EEEP;ij 5 PRij = EPij 5 PRij =ðEPI 1EPII 1EPIII Þj PRij , allocated profit from productions sold (country
emissions (EEEP) currency)

EPij , allocated eutrophication emissions associated with

the production of bioproduct and biorefinery
integration levels (kg PO4 equivalent)

Notations i refer to the level of integrations of the biorefinery; j refers to the product from the refinery.
56 2. Biomass—a resource for environmental bioremediation and bioenergy

allocated for crop biomass for a certain time Moreover, biorefineries could compete with
period, since cropping systems play an impor- food requirements and needs, which would
tant role in the environmental performance of limit the land allocated to biomass for biorefi-
bio-based products, while impacts assessment neries. As a result, the future of biorefineries
could address global warming potential, non- should consider the use of nonedible biomass
renewable energy, crude oil consumption, and the advanced processing of biomass waste,
water use, acidification, eutrophication, biode- and land which could not normally be used for
gradability, less toxicity, etc. (Demirbas, 2010; agriculture. This type of land could be used for
Laser et al., 2009). In their study, Hong Chua microalgae cultures or renewable plants. Other
and Steinmuller (2010) have identified the fol- sources of raw material for biorefineries could
lowing main environmental influences for a be found on waste from the food industry and
biorefinery: energy consumption, material con- urban organic waste. The processing of this raw
sumption, GHG emissions, acidification, and matter can be successfully and eco-efficiently
eutrophication. The eco-efficiency indicators carried out through the development of enzy-
used to account for these environmental influ- matic systems and engineered microorganisms
ences are as shown in Table 2.10. capable of separating useful compounds from
waste.
The development of these technologies
2.10 Concluding remarks and should also consider the important issue of
perspectives costs, since, currently, oil-based refineries offer
more cost-effective solutions at the expense of
Bioresource use in the forms of new and environmental degradation and pollution.
waste biomass is a great opportunity for both
environmental bioremediation and biorefinery,
and a challenge for the future, since it offers Acknowledgments
the chance of replacing fossil fuels for the This work was supported by the two grants of the
production of energy carriers, materials and Romanian National Authority for Scientific Research,
specialty chemicals and diminishing the mar- CNCS
UEFISCDI, project number PN-II-ID-PCE-2011-3-
ket pressure and environmental impacts in an 0559, Contract 265/2011, and project number PN-III-P4-ID-
almost carbon neutral way. PCE-2016-0683, Contract nr. 65/12.07.2017.
Environmental bioremediation by using
living plants (for phytoremediation), micro-
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Demirbas, A., 2010. Biorefineries: For Biomass Upgrading recalcitrant biomass and integration options for lignocel-
Facilities. Springer, Dordrecht, Heidelberg-London- lulosic sugars from Catchlight Energy’s sugar process
New York. (CLE Sugar). Biotechnol. Biofuels. 6, 10. Available from:
de Sa, D.O.J., 2004. Applied Technology and Instrumentation [Link]
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primary measures for tar elimination in biomass gasifi- and its bioremediation. Eng. Life Sci. 5, 497
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de Wild, R.J., 2011. Biomass Pyrolysis for Chemicals (PhD ation. In: Fulekar, M.H. (Ed.), Bioremediation
Thesis). Rijksu University Groningen, The Netherlands. Technology Recent Advances. Springer Nature,
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Dodson, J.R., Parker, H.L., Munoz Garcia, A., Hicken, A., I. (Ed.), Sustainable Energy in the Built Environment -
Asemave, K., Farmer, T.J., et al., 2015. Bioderived mate- Steps Towards nZEB. Springer International Publishing,
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for remediation of heavy metals: current status and Eco-Efficiency Indicators for a Biorefinery. Energy
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in Stenungsund. Research Project Report, Department Hughes, W., Larson, E., 1998. Effect of fuel moisture con-
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Haq, F., Butt, M., Ali, H., Chaudhary, H.J., 2016. Huijser, S., 2009. Synthesis and Characterization of
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Recent Developments in Bioenergy Research

_II Entrepreneurship Development

6. Highly Optimistic: Successful entrepreneur is always optimistic about

his future and he is never disturbed by the present problems. He always
expects a favourable situation for his business and hence he is able to run his
business successfully in the midst of temporary hurdles. He does not allow the
past to obsess him.
7. Keen Foresight: An entrepreneur must have keen foresight to
predict the future business environment. He has the capacity to visualise the
likely changes to take place in the market, customer's attitude, technologi<;:al
developments, Government's policy etc., and take timely actions accordingly.
8. Planning and Organising Ability: An entrepreneur is a firm believer
in planning and systematic work. Above all, he must have the ability to bring
together all scattered resources required for starting up a new venture.
9. Innovativeness: When all is said and done, innovation becomes a
different task. One should be always innovative to satisfy the varying demands
of customers. For this purpose, the entrepreneur should initiate research and
innovative activities to produce new goods and services. It is a never ending
process.
10. RiSk-taking: An entrepreneur is not a gambler and hence he should
not assume high risk. However, he must love a moderate risk situation, high
enough to be exciting, but with a fairly reasonable chance to win.
11. Secrecy Maintenance: A successful entrepreneur must be capable
of maintaining and guarding all his business secrets. Leakage of business
secrets to trade competitors will definitely lead to the downfall of his business.
Hence, he should be very careful in selecting his subordinates.
12. Maintenance of Public Relations: The extent of maintenance of
public relations or human relations has a vital role to play on the success or
failure of an entrepreneur. A successful entrepreneur must have cordial
relations with his customers to gain their continued patronage and support.
He must also maintain good relations with his employees with a view to
motivating them to higher levels of efficiency. Similarly, he must maintain good
relations with his suppliers, creditors and the community at large so that he
may succeed in his ventures.
13. Communication Skill: Communication skill is the secret of the
success of most entrepreneurs. Good communication skill enables them to
put their points across effectively and with clarity and thereby helps them to
win customers.

Functions of an Entrepreneur
An entrepreneur is an agent who buys various factors of production with
a view to combining them into a finished product which can be sold in the
market. While doing so, he has to perform the following basic functions:
 Enterpreneu( , 11_
1. Risk Assumption Function
2. Business Decision-making Function
3. Managerial Function
4. Function of Innovation
1. Risk Assumption Function: An entrepreneur has to necessarily act
as a 'risk-bearing' agent of production since he has to bear a greater amount
of uncertainties in business. The term uncertainty refers to more than an
ordinary risk. Ordinary risk can be measured and insured whereas risk due to
uncertainty cannot be insured and it is incalculable also. For instance, risks
due to the possibility of changes in the taste of customers, change in fashion
and technique of production, new inventions etc. cannot be ensured, But, an
entrepreneur has to undertake and face such uncertainties. The
entrepreneur assumes this risk and tries to reduce these uncertainties by his
initiative, skill and admirable ability.
2. Decision-making Function: From the very inception of the business
till its development, an entrepreneur has to take decisions at various stages.
He has to decide the nature and type of goods to be produced, the size of the
business, its location, technique of production etc. A successful entrepreneur
is one who takes sound decisions at the appropriate time so that his business
may succeed.
3. Managerial Function: An entrepreneur has to perform the
managerial functions also. Managerial functions are nothing but functions of
coordination, organisation and supervision. An entrepreneur is one who
combines the land of one, the labour of another and the capital of yet another,
and, thus, produces a product. While undertaking an enterprise, he has to
perform all managerial functions starting with planning and ending with
controlling.
4. Function of Innovation: Innovation is an important function of an
entrepreneur, In this context, one should know the distinction between an
investor and an innovator. The person who discovers new methods, new
materials and machines is called an inventor. But, the person who utilises
these inventions so as to make new combinations of products is called an
innovator. Innovation is a never ending process and in fact it is an ongoing
function. Thus, an entrepreneur has to be always on the lookout to introduce
a new product or a new production technology or open a new market hitherto
untapped or discover a new source of supply of new material. Innovators are
always successful in their ventures.

Entrepreneur vs. Manager

Many people are of the view that the terms entrepreneur and manager
mean the same. It is a wrong notion since one can find a lot of differences
between these two as given below:
II'1II11 EntrepreneurshIp Development

Entrepreneur Manager
1. Owner: An entrepreneur is owner i. Servant: A manager is acting in the
of the enterprise which he the capacity of a servant in the
establishes himself. enterprise.
2. Profit: The reward for an 2. Salary: The reward for a manager
entrepreneur is profit which is is salary and his salary is highly
uncertain. certain and fixed.
3. Full risk bearing: As a owner, the 3. No risk bearing: As a servant, the
entrepreneur has to bear all manager need not bear any risk and
uncertainties involved in running risks involved in the enterprise.
the business.
4. All functions: An entrepreneur has 4. Managerial functions only: A
to perform many functions in order manager renders only the
to run the enterprise successfully. managerial services in an enterprise.
5. Innovator: An entrepreneur mainly 5. Executor: A manager mainly acts as
acts as an innovator and prepares an executor of plans prepared by
plans for execution. the entrepreneur.

Entrepreneur vs. Intrapreneur

In recent times, a new brand of corporate entrepreneurs called
"intrapreneurs" has come into picture. Since they emerge within the frontiers
of ary existing e'nterprise, they are ~lIed intrapreneurs. "In" refers to "within."
In big organisations, the top executives with entrepreneurial talents are
encouraged to generate new ideas and then convert them into products through
research and development carried out within the organisation itself. If the
talent inside an organisation is regarded, the entrepreneur could avoid
stagnation and decline in his enterprise.
This concept of intrapreneurship has gailJed much popularity in
developed countries like America. If the managements are not receptive to
their new ideas, they tend to leave their parent organisation and start
-ventures of their own. When Steve Wozniak could not get his dream of making
a small computer fulfilled at Hewlett Packard, he left that popular company. He
then teamed up with Steve. Jobs to form Apple Computers which has
subsequently become a very prestigious organisation. It is found that many of
such intrapreneurs have become exceedingly successful in their ventures to
the extent of even causing a threat to their parent organisation. Generally,
intrapreneurs breed new and innovative ideas to the entrepreneurs who
inaugurate new products.
Companies should provide intrapreneurs with adequate financial
resources and freedom so that their ideas can be developed. Hence, selected
top executives should be given a status within the organisation similar to that
of an entrepreneur in the society. What drives talent within an organisation is
 EnterpleneUl 11_
not monetary gain, but, a deep desire of personal achievement. Thus, an
intrepreneur is an individual, who perform~ all the duties of an entrepreneu'r,
but within an established organisation. Most often, he belongs to the family
member of the founder.
The diff,erences that exist between these two types of business leaders
are given below:

Entrepreneur Intrapreneur
1. Independent: An entrepreneur is an 1. Dependent: On the other hand an ,
independent person in his business intrapreneur is completely depend- .
operations. ing on the entrepreneur for everything
in the organisation. He cannot take
any decision by himself.
2. Need not be highly educated: It is 2. Highly educated: An intrapreneur
not necessary that an entrepreneur enters into an existing organisation
should have a high education. He can with a high education and qualifica-
learn everything by experience pro- tion. He is indeed a business
vided he has the basic qualities of a specialist in the chosen field.
successful entrepreneur.
3. Fund raising: An entrepreneur him- 3. No fund raising: An intrapreneur is
self raises funds necessary for start- completely free from the botheration
ing and establishing his enterprise. of raising funds.
4. Risk bearing: An entrepreneur has 4. No risk bearing: An intrapreneur
to bear all the risks involved in the need not bear any risk involved in the
business by himself. business.
5. Routine work: An entrepreneur is 5. Specialist: An intrapreneur acts as
more concerned with doing routine a specialist in his chosen field and
work and sometimes he may not serves as an outside professional.
know the important details of his own
business.
6. Operation from outside: An entrepre- 6. Operation from inside: But, an
neur always operates from outside. intrapreneur operates from within the
The owner is different and the enter- organisation itself. He is a part and
prise he owns is different. parcel of the organisation.
7. Strong authoritarian: Generally, an 7. Less authoritarian: On the contrary,
entrepreneur operates with a strong intrapreneur is less authoritarian. He
authoritarian back-up. is more "adaptable" in the
organisation.

Entrepreneur vs. Copl'eneul'

An entrepreneur is an individual person who sets up his or her own
business or industrial undertaking with a view to making profit. But, when a
married couple share ownership, commitment and responsibility for a
business, they are called "Copreneurs." The concept of married couples working
_II Entrepreneurship Development

together in a business is as old as the family itself. In recent times, there is a

steady rise in the number of copreneurial ventures all over the world. It has
been proved that marital satisfaction increases when both husband and wife
are emotionally supportive of each others career. '

Classification/Types of Entrepreneurs
There are various ways by which entrepreneurs have been classified.
Different authorities have classified entrepreneurs differently at different times.
The most popular classification has been given by Clarence Danhof on the
basis of his study of the American agriculture. According to him an
entrepreneur may be classified as follows:
1. Innovative Entrepreneur
2. Adoptive or Imitative Entrepreneur
3. Fabian Entrepreneur
4. Drone Entrepreneur
1. Innovative Entrepreneur: An innovative entrepreneur is one who is
able to foresee potentially viable and profitable opportunities through
innovation. This type of entrepreneur is highly motivated and talented and
"innovation" is his key function. According to Peter F. Drucker an innovating
entrepreneur is one "who always searches for change, responds to it, and
exploits it as an opportunity." He creates new values or increases the value of
what already exists.
An innovative entrepreneur may exhibit his talents of innovation in any
one of the following forms:
(a) Introduction of a new product or introduction of a new quality of an
existing product.
(b) Introduction of a new method of production.
(c) Opening of a new market.
(d) Discovery of a new source of supply of raw materials or semi·
finished goods. '
(e) Reorganisation of the enterprise so as to achieve monopoly or to
break up the monopoly position.
One should not confuse the terms 'innovator' and 'inventor' at this
juncture. An entrepreneur is not an inventor. An inventor discovers new
methods and new materials. But an innovator commercialises these
inventions to produce new and better goods. Thus, an innovating
entrepreneur implements the inventor's ideas.
2. Adoptive or Imitative Entrepreneur: Imitative entrepreneur is one
who is ready to adopt the successful innovations already inaugurated by
innovating entrepreneurs. In other words, an imitative entrepre~eur does not
 Enterpreneur . 11_
innovate anything by himself, but, he only imitates techniques and
technologies innovated by others. He follows the innovators after carefully
observing how the latter fare and to what extent their innovation has caught
the imagination of the society. For example, the Cochin Shipyard has been
constructed by using the innovative technology provided by the Mitsubishi
Heavy Industries Ltd. of Japan.
This type of entrepreneur has a vital role to play in developing countries.
Innovative entrepreneurs are scarce in developing countries. To add fuel to
fire, there is also a problem of scarcity of capital and skilled labour in these
countries, which hinder innovative entrepreneurship. In this context, the
imitative entrepreneur fills up this gap very admirably by simply imitating the
technology, skill and technique already developed by innovative
entrepreneurs in developed countries. Hence, developing countries need
imitators who are responsible for the development of their countries with the
limited resources available in these countries.
3. Fabian Entrepreneur: Fabian entrepreneur is one who adopts a
great caution and scepticism in introducing any change in the business.
Normally, he has neither the will to introduce any new changes nor the desire
to adopt new methods. He is ready to imitate only when it becomes perfectly
clear that failure to do so would definitely result in heavy loss for him. He is
dominated more by customs, religions, traditions and past practices and he is
not ready to take any risk at all.
4. Drone Entrepreneur: Drone entrepreneur is one who blindly follows
the traditional methods of production even when it causes loss to him. He is
not prepared to introduce any change under any circumstances in the method
of production he has already introduced. He continues to carry out his
business in the traditional way even when he suffers losses. For example, the
coir industry in Kerala is dominated by drone entrepreneurs .
.Cole's Classification
Arthur H. Cole classifies entrepreneurs as follOWS:
1. Empirical Entrepreneur
2. .Rational Entrepreneur and
3. Cognitive Entrepreneur
1. Empirical Entrepreneur: An empirical entrepreneur is one who never
introduces anything revolutionary in his method of production or business. He
simply follows the [Link] of rule of thumb. He is similar to a drone
entrepreneur.
2. Rational Entrepreneur: A rational entrepreneur is one who is ready
to introduce even revolutionary changes on the basis of the general economic
conditions prevailing in that area. He takes rational decisions by himself
depending upon the situation.
Genes: A Very Short Introduction
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AGRICULTURE Paul Brassley and THE AMERICAN REVOLUTION
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ALEXANDER THE GREAT AMERICAN SLAVERY
Hugh Bowden Heather Andrea Williams
ALGEBRA Peter M. Higgins THE AMERICAN SOUTH
AMERICAN BUSINESS HISTORY Charles Reagan Wilson
Walter A. Friedman THE AMERICAN WEST
AMERICAN CULTURAL HISTORY Stephen Aron
Eric Avila AMERICAN WOMEN’S HISTORY
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Andrew Preston AMPHIBIANS T. S. Kemp
AMERICAN HISTORY Paul S. Boyer ANAESTHESIA Aidan O’Donnell
ANALYTIC PHILOSOPHY ASTROPHYSICS James Binney
Michael Beaney ATHEISM Julian Baggini
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ANCIENT EGYPT Ian Shaw JANE AUSTEN Tom Keymer
ANCIENT EGYPTIAN ART AND AUSTRALIA Kenneth Morgan
ARCHITECTURE Christina Riggs AUTISM Uta Frith
ANCIENT GREECE Paul Cartledge AUTOBIOGRAPHY Laura Marcus
ANCIENT GREEK AND ROMAN THE AVANT GARDE
SCIENCE Liba Taub David Cottington
THE ANCIENT NEAR EAST THE AZTECS Davíd Carrasco
Amanda H. Podany BABYLONIA Trevor Bryce
ANCIENT PHILOSOPHY Julia Annas BACTERIA Sebastian G. B. Amyes
ANCIENT WARFARE BANKING John Goddard and
Harry Sidebottom John O. S. Wilson
ANGELS David Albert Jones BARTHES Jonathan Culler
ANGLICANISM Mark Chapman THE BEATS David Sterritt
THE ANGLO-SAXON AGE John Blair BEAUTY Roger Scruton
ANIMAL BEHAVIOUR LUDWIG VAN BEETHOVEN
Tristram D. Wyatt Mark Evan Bonds
THE ANIMAL KINGDOM BEHAVIOURAL ECONOMICS
Peter Holland Michelle Baddeley
ANIMAL RIGHTS David DeGrazia BESTSELLERS John Sutherland
ANSELM Thomas Williams THE BIBLE John Riches
THE ANTARCTIC Klaus Dodds BIBLICAL ARCHAEOLOGY
ANTHROPOCENE Erle C. Ellis Eric H. Cline
ANTISEMITISM Steven Beller BIG DATA Dawn E. Holmes
ANXIETY Daniel Freeman and BIOCHEMISTRY Mark Lorch
Jason Freeman BIOGEOGRAPHY Mark V. Lomolino
THE APOCRYPHAL BIOGRAPHY Hermione Lee
GOSPELS Paul Foster BIOMETRICS Michael Fairhurst
APPLIED MATHEMATICS ELIZABETH BISHOP
Alain Goriely Jonathan F. S. Post
THOMAS AQUINAS Fergus Kerr BLACK HOLES Katherine Blundell
ARBITRATION Thomas Schultz and BLASPHEMY Yvonne Sherwood
Thomas Grant BLOOD Chris Cooper
ARCHAEOLOGY Paul Bahn THE BLUES Elijah Wald
ARCHITECTURE Andrew Ballantyne THE BODY Chris Shilling
THE ARCTIC Klaus Dodds and THE BOHEMIANS David Weir
Jamie Woodward NIELS BOHR J. L. Heilbron
HANNAH ARENDT Dana Villa THE BOOK OF COMMON PRAYER
ARISTOCRACY William Doyle Brian Cummings
ARISTOTLE Jonathan Barnes THE BOOK OF MORMON
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ART THEORY Cynthia Freeland BORDERS Alexander C. Diener and
ARTIFICIAL INTELLIGENCE Joshua Hagen
Margaret A. Boden THE BRAIN Michael O'Shea
ASIAN AMERICAN HISTORY BRANDING Robert Jones
Madeline Y. Hsu THE BRICS Andrew F. Cooper
ASTROBIOLOGY David C. Catling BRITISH CINEMA Charles Barr
THE BRITISH CONSTITUTION COGNITIVE BEHAVIOURAL
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BUDDHA Michael Carrithers THE COLD WAR Robert J. McMahon
BUDDHISM Damien Keown COLONIAL AMERICA Alan Taylor
BUDDHIST ETHICS Damien Keown COLONIAL LATIN AMERICAN
BYZANTIUM Peter Sarris LITERATURE Rolena Adorno
CALVINISM Jon Balserak COMBINATORICS Robin Wilson
ALBERT CAMUS Oliver Gloag COMEDY Matthew Bevis
CANADA Donald Wright COMMUNISM Leslie Holmes
CANCER Nicholas James COMPARATIVE LITERATURE
CAPITALISM James Fulcher Ben Hutchinson
CATHOLICISM Gerald O’Collins COMPETITION AND ANTITRUST
CAUSATION Stephen Mumford and LAW Ariel Ezrachi
Rani Lill Anjum COMPLEXITY John H. Holland
THE CELL Terence Allen and THE COMPUTER Darrel Ince
Graham Cowling COMPUTER SCIENCE
THE CELTS Barry Cunliffe Subrata Dasgupta
CHAOS Leonard Smith CONCENTRATION CAMPS
GEOFFREY CHAUCER David Wallace Dan Stone
CHEMISTRY Peter Atkins CONDENSED MATTER PHYSICS
CHILD PSYCHOLOGY Usha Goswami Ross H. McKenzie
CHILDREN’S LITERATURE CONFUCIANISM Daniel K. Gardner
Kimberley Reynolds THE CONQUISTADORS
CHINESE LITERATURE Sabina Knight Matthew Restall and
CHOICE THEORY Michael Allingham Felipe Fernández-Armesto
CHRISTIAN ART Beth Williamson CONSCIENCE Paul Strohm
CHRISTIAN ETHICS D. Stephen Long CONSCIOUSNESS Susan Blackmore
CHRISTIANITY Linda Woodhead CONTEMPORARY ART
CIRCADIAN RHYTHMS Julian Stallabrass
Russell Foster and Leon Kreitzman CONTEMPORARY FICTION
CITIZENSHIP Richard Bellamy Robert Eaglestone
CITY PLANNING Carl Abbott CONTINENTAL PHILOSOPHY
CIVIL ENGINEERING Simon Critchley
David Muir Wood COPERNICUS Owen Gingerich
THE CIVIL RIGHTS MOVEMENT CORAL REEFS Charles Sheppard
Thomas C. Holt CORPORATE SOCIAL
CLASSICAL LITERATURE RESPONSIBILITY Jeremy Moon
William Allan CORRUPTION Leslie Holmes
CLASSICAL MYTHOLOGY COSMOLOGY Peter Coles
Helen Morales COUNTRY MUSIC Richard Carlin
CLASSICS Mary Beard and CREATIVITY Vlad Glăveanu
John Henderson CRIME FICTION Richard Bradford
CLAUSEWITZ Michael Howard CRIMINAL JUSTICE
CLIMATE Mark Maslin Julian V. Roberts
CLIMATE CHANGE Mark Maslin CRIMINOLOGY Tim Newburn
CLINICAL PSYCHOLOGY CRITICAL THEORY
Susan Llewelyn and Katie Stephen Eric Bronner
Aafjes-van Doorn THE CRUSADES Christopher Tyerman
CRYPTOGRAPHY Fred Piper and EMOTION Dylan Evans
Sean Murphy EMPIRE Stephen Howe
CRYSTALLOGRAPHY A. M. Glazer EMPLOYMENT LAW David Cabrelli
THE CULTURAL REVOLUTION ENERGY SYSTEMS Nick Jenkins
Richard Curt Kraus ENGELS Terrell Carver
DADA AND SURREALISM ENGINEERING David Blockley
David Hopkins THE ENGLISH LANGUAGE
DANTE Peter Hainsworth and Simon Horobin
David Robey ENGLISH LITERATURE Jonathan Bate
DARWIN Jonathan Howard THE ENLIGHTENMENT
THE DEAD SEA SCROLLS John Robertson
Timothy H. Lim ENTREPRENEURSHIP Paul Westhead
DECADENCE David Weir and Mike Wright
DECOLONIZATION Dane Kennedy ENVIRONMENTAL
DEMENTIA Kathleen Taylor ECONOMICS Stephen Smith
DEMOCRACY Naomi Zack ENVIRONMENTAL ETHICS
DEMOGRAPHY Sarah Harper Robin Attfield
DEPRESSION Jan Scott and ENVIRONMENTAL LAW
Mary Jane Tacchi Elizabeth Fisher
DERRIDA Simon Glendinning ENVIRONMENTAL POLITICS
DESCARTES Tom Sorell Andrew Dobson
DESERTS Nick Middleton ENZYMES Paul Engel
DESIGN John Heskett EPICUREANISM Catherine Wilson
DEVELOPMENT Ian Goldin EPIDEMIOLOGY Rodolfo Saracci
DEVELOPMENTAL BIOLOGY ETHICS Simon Blackburn
Lewis Wolpert ETHNOMUSICOLOGY Timothy Rice
THE DEVIL Darren Oldridge THE ETRUSCANS Christopher Smith
DIASPORA Kevin Kenny EUGENICS Philippa Levine
CHARLES DICKENS Jenny Hartley THE EUROPEAN UNION
DICTIONARIES Lynda Mugglestone Simon Usherwood and John Pinder
DINOSAURS David Norman EUROPEAN UNION LAW
DIPLOMATIC HISTORY Anthony Arnull
Joseph M. Siracusa EVANGELICALISM
DOCUMENTARY FILM John G. Stackhouse Jr.
Patricia Aufderheide EVIL Luke Russell
DREAMING J. Allan Hobson EVOLUTION Brian and
DRUGS Les Iversen Deborah Charlesworth
DRUIDS Barry Cunliffe EXISTENTIALISM Thomas Flynn
DYNASTY Jeroen Duindam EXPLORATION Stewart A. Weaver
DYSLEXIA Margaret J. Snowling EXTINCTION Paul B. Wignall
EARLY MUSIC Thomas Forrest Kelly THE EYE Michael Land
THE EARTH Martin Redfern FAIRY TALE Marina Warner
EARTH SYSTEM SCIENCE Tim Lenton FAMILY LAW Jonathan Herring
ECOLOGY Jaboury Ghazoul MICHAEL FARADAY
ECONOMICS Partha Dasgupta Frank A. J. L. James
EDUCATION Gary Thomas FASCISM Kevin Passmore
EGYPTIAN MYTH Geraldine Pinch FASHION Rebecca Arnold
EIGHTEENTH‑CENTURY BRITAIN FEDERALISM Mark J. Rozell and
Paul Langford Clyde Wilcox
THE ELEMENTS Philip Ball FEMINISM Margaret Walters
FILM Michael Wood GLOBAL ECONOMIC HISTORY
FILM MUSIC Kathryn Kalinak Robert C. Allen
FILM NOIR James Naremore GLOBAL ISLAM Nile Green
FIRE Andrew C. Scott GLOBALIZATION Manfred B. Steger
THE FIRST WORLD WAR GOD John Bowker
Michael Howard GÖDEL’S THEOREM A. W. Moore
FLUID MECHANICS Eric Lauga GOETHE Ritchie Robertson
FOLK MUSIC Mark Slobin THE GOTHIC Nick Groom
FOOD John Krebs GOVERNANCE Mark Bevir
FORENSIC PSYCHOLOGY GRAVITY Timothy Clifton
David Canter THE GREAT DEPRESSION AND
FORENSIC SCIENCE Jim Fraser THE NEW DEAL Eric Rauchway
FORESTS Jaboury Ghazoul HABEAS CORPUS Amanda L. Tyler
FOSSILS Keith Thomson HABERMAS James Gordon Finlayson
FOUCAULT Gary Gutting THE HABSBURG EMPIRE Martyn Rady
THE FOUNDING FATHERS HAPPINESS Daniel M. Haybron
R. B. Bernstein THE HARLEM RENAISSANCE
FRACTALS Kenneth Falconer Cheryl A. Wall
FREE SPEECH Nigel Warburton THE HEBREW BIBLE AS
FREE WILL Thomas Pink LITERATURE Tod Linafelt
FREEMASONRY Andreas Önnerfors HEGEL Peter Singer
FRENCH LITERATURE John D. Lyons HEIDEGGER Michael Inwood
FRENCH PHILOSOPHY THE HELLENISTIC AGE
Stephen Gaukroger and Knox Peden Peter Thonemann
THE FRENCH REVOLUTION HEREDITY John Waller
William Doyle HERMENEUTICS Jens Zimmermann
FREUD Anthony Storr HERODOTUS Jennifer T. Roberts
FUNDAMENTALISM Malise Ruthven HIEROGLYPHS Penelope Wilson
FUNGI Nicholas P. Money HINDUISM Kim Knott
THE FUTURE Jennifer M. Gidley HISTORY John H. Arnold
GALAXIES John Gribbin THE HISTORY OF ASTRONOMY
GALILEO Stillman Drake Michael Hoskin
GAME THEORY Ken Binmore THE HISTORY OF CHEMISTRY
GANDHI Bhikhu Parekh William H. Brock
GARDEN HISTORY Gordon Campbell THE HISTORY OF CHILDHOOD
GENES Jonathan Slack James Marten
GENIUS Andrew Robinson THE HISTORY OF CINEMA
GENOMICS John Archibald Geoffrey Nowell-Smith
GEOGRAPHY John Matthews and THE HISTORY OF COMPUTING
David Herbert Doron Swade
GEOLOGY Jan Zalasiewicz THE HISTORY OF EMOTIONS
GEOMETRY Maciej Dunajski Thomas Dixon
GEOPHYSICS William Lowrie THE HISTORY OF LIFE
GEOPOLITICS Klaus Dodds Michael Benton
GERMAN LITERATURE Nicholas Boyle THE HISTORY OF MATHEMATICS
GERMAN PHILOSOPHY Jacqueline Stedall
Andrew Bowie THE HISTORY OF MEDICINE
THE GHETTO Bryan Cheyette William Bynum
GLACIATION David J. A. Evans THE HISTORY OF PHYSICS
GLOBAL CATASTROPHES Bill McGuire J. L. Heilbron
THE HISTORY OF POLITICAL INSECTS Simon Leather
THOUGHT Richard Whatmore IRAN Ali M. Ansari
THE HISTORY OF TIME ISLAM Malise Ruthven
Leofranc Holford‑Strevens ISLAMIC HISTORY Adam Silverstein
HIV AND AIDS Alan Whiteside ISLAMIC LAW Mashood A. Baderin
HOBBES Richard Tuck ISOTOPES Rob Ellam
HOLLYWOOD Peter Decherney ITALIAN LITERATURE
THE HOLY ROMAN EMPIRE Peter Hainsworth and David Robey
Joachim Whaley HENRY JAMES Susan L. Mizruchi
HOME Michael Allen Fox JAPANESE LITERATURE Alan Tansman
HOMER Barbara Graziosi JESUS Richard Bauckham
HORMONES Martin Luck JEWISH HISTORY David N. Myers
HORROR Darryl Jones JEWISH LITERATURE Ilan Stavans
HUMAN ANATOMY Leslie Klenerman JOURNALISM Ian Hargreaves
HUMAN EVOLUTION Bernard Wood JAMES JOYCE Colin MacCabe
HUMAN PHYSIOLOGY JUDAISM Norman Solomon
Jamie A. Davies JUNG Anthony Stevens
HUMAN RESOURCE THE JURY Renée Lettow Lerner
MANAGEMENT Adrian Wilkinson KABBALAH Joseph Dan
HUMAN RIGHTS Andrew Clapham KAFKA Ritchie Robertson
HUMANISM Stephen Law KANT Roger Scruton
HUME James A. Harris KEYNES Robert Skidelsky
HUMOUR Noël Carroll KIERKEGAARD Patrick Gardiner
THE ICE AGE Jamie Woodward KNOWLEDGE Jennifer Nagel
IDENTITY Florian Coulmas THE KORAN Michael Cook
IDEOLOGY Michael Freeden KOREA Michael J. Seth
THE IMMUNE SYSTEM LAKES Warwick F. Vincent
Paul Klenerman LANDSCAPE ARCHITECTURE
INDIAN CINEMA Ian H. Thompson
Ashish Rajadhyaksha LANDSCAPES AND
INDIAN PHILOSOPHY Sue Hamilton GEOMORPHOLOGY
THE INDUSTRIAL REVOLUTION Andrew Goudie and Heather Viles
Robert C. Allen LANGUAGES Stephen R. Anderson
INFECTIOUS DISEASE Marta L. Wayne LATE ANTIQUITY Gillian Clark
and Benjamin M. Bolker LAW Raymond Wacks
INFINITY Ian Stewart THE LAWS OF THERMODYNAMICS
INFORMATION Luciano Floridi Peter Atkins
INNOVATION Mark Dodgson and LEADERSHIP Keith Grint
David Gann LEARNING Mark Haselgrove
INTELLECTUAL PROPERTY LEIBNIZ Maria Rosa Antognazza
Siva Vaidhyanathan C. S. LEWIS James Como
INTELLIGENCE Ian J. Deary LIBERALISM Michael Freeden
INTERNATIONAL LAW LIGHT Ian Walmsley
Vaughan Lowe LINCOLN Allen C. Guelzo
INTERNATIONAL MIGRATION LINGUISTICS Peter Matthews
Khalid Koser LITERARY THEORY Jonathan Culler
INTERNATIONAL RELATIONS LOCKE John Dunn
Christian Reus-Smit LOGIC Graham Priest
INTERNATIONAL SECURITY LOVE Ronald de Sousa
Christopher S. Browning MARTIN LUTHER Scott H. Hendrix
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