The New Palgrave

Dictionary of Economics
Second Edition
Edited by Lawrence E. Blume
and Steven N. Durlauf

The definitive resource for a new

generation of economists

• 5.8 million words

• 1,500+ contributors
• 1,750+ articles
• 7,680 pages
• 8 print volumes
• 1 dynamic online resource

Publishing May 2008 in print and online

www.dictionaryofeconomics.com
 Following its original publication in 1987, The New Palgrave Dictionary
of Economics has become established as the leading reference work for
economists in all spheres of the discipline. R. H. Inglis Palgrave described his
work as ‘an almost unique example of economic cooperation’ and this single

The New
resource featured original articles from key economic thinkers including Milton
Friedman, Paul Samuelson, James Buchanan, Kenneth Boulding, George Stigler,
James Tobin, Kenneth Arrow, John Kenneth Galbraith, and Murray N. Rothbard.
Palgrave A new edition
Dictionary of The past two decades, however, have seen many changes in the world and
particularly in the field of economics and so in 2008 Palgrave Macmillan is

Economics
proud to publish a new edition of the Dictionary of Economics which reflects
the current state of the discipline and features contributions from today’s
leading economists.
This new edition features over 1000 new or heavily revised articles and includes:
• signed articles by over 1,500 eminent contributors providing a
current overview of economics
• many individual classic essays of enduring importance from the
previous edition
• topics placed in their historical perspective, indicating likely future
trends as well as describing the contemporary situation
New or expanded areas include:
• experimental and behavioural economics
• game theory
• international economics
• technological change and growth
• labour economics
Published in eight print volumes and for the first time in online format, this second
edition is the definitive resource for a new generation of economists.
‘This will be the
standard reference The New Palgrave Dictionary of Economics is an essential reference resource for:
work on economics until • university and college libraries and departments of business,
well into the next century.’ finance and economics
• public reference libraries
- The World Economy • professional business and financial experts
• government bodies
• research organizations
A dynamic online resource
The online edition of The New Palgrave Dictionary of Economics contains the full text of
the 8 volume print edition. In addition, the online Dictionary is a dynamic resource for
economists which:
• allows remote access to members of subscribing institutions
• offers excellent search and browse facilities, both full text and advanced, which
make it possible to explore the Dictionary with great speed and ease
• contains hyperlinked cross-references within articles, making it an indispensable
tool for researchers and students
• features carefully selected and maintained links to related sites, sources of further
information and bibliographical citations
• incorporates quarterly additions, updates and corrections

Perform a quick search for articles by article title,

article author or subject area

Use the advanced search function for more

detailed searching

All visitors can view the full text of a sample article

Recommend the Dictionary to a colleague

Add a link to the Dictionary to your desktop for

fast access

Find out more about the Dictionary - its history,

editors and contributors

Find out about the latest updates to the site and

read recent reviews

A range of materials to aid lecturers and students

when using the Dictionary

User guides, help sheets, tutorials available to

ensure users get the most from the Dictionary
Quick Search is available on
every webpage

Articles can be printed easily

See when articles were last

updated and by whom

Link to contributor
biography and other
articles by this contributor

Hyperlinked tables of contents

make it possible to browse long
articles with ease

Links to related articles

to aid research

Comprehensive bibliographic
references throughout

Citation information
easily available

www.dictionaryofeconomics.com
Economics publishing at About the Editors
LAWRENCE E. BLUME,
Professor of Economics,

Palgrave Macmillan Cornell University, USA

Palgrave Macmillan’s longstanding reputation as one of the most influential

publishers in economics was established with works such as R.H.Inglis
Palgrave’s Dictionary of Political Economy (1894-9) and the complete works
STEVEN N. DURLAUF,
of John Maynard Keynes, including The General Theory of Employment, Interest Kenneth J. Arrow
and Money (1936). Professor of Economics,
University of Wisconsin
Today, Palgrave Macmillan continues to publish authoritative and innovative at Madison, USA
resources in this field, working with many influential partners, including
organizations such as the World Economic Forum, the United Nations
Development Programme and the World Bank.
Advisory Editors
International in scope, products range from core textbooks to authored KENNETH J. ARROW Stanford University,
works and edited collections for research level. The New Palgrave Dictionary Emeritus Professor of Economics, USA
SIR TONY ATKINSON Warden, Nuffield College,
of Economics, 2nd Edition is the cornerstone in a new era of growth in our
University of Oxford, UK
economics publishing that reflects our commitment to higher education, RICHARD BLUNDELL Professor of Economics,
academic scholarship and cutting-edge electronic publishing. For more University College London, UK
WILLIAM BROCK Professor of Economics,
information visit www.palgrave.com/economics. University of Wisconsin, USA
PARTHA DASGUPTA Professor of Economics,
University of Cambridge, UK
PETER DIAMOND Institute Professor,
Massachusetts Institute of Technology, USA
ROGER GUESNERIE Delta, PARIS-Jourdan, France
JAMES HECKMAN Professor in Economics,
University of Chicago, USA
ELHANAN HELPMAN Professor of International Trade,
Harvard University, USA
TAKATOSHI ITO Professor of Economics,
University of Tokyo, Japan
ANDREU MAS-COLLEL Societat de la Informació, Spain
PETER PHILLIPS Sterling Professor of Economics

www.dictionaryofeconomics.com & Professor of Statistics, Yale University, USA

THOMAS SARGENT WR Berkley Professor,
New York University, USA
Visit the Dictionary of Economics pre-publication PETER TEMIN Economics Professor,
site today to preview the original, unedited version Massachusetts Institute of Technology, USA

of selected articles and to find out more about

the new edition and its editorial team. To view a comprehensive list of
contributors and headwords, visit
www.dictionaryofeconomics.com.
Associate Editors The New Palgrave Dictionary of Economics, 2nd edition
ROGER BACKHOUSE, Professor of the History and Print ISBN: 978-0-333-78676-5
Philosophy of Economics, University of Birmingham, UK
Methodology and History of Economic Thought Pre-publication price: £1,360 (valid until publication, thereafter £1,600)
MARK BILS, Professor of Economics, University
of Rochester, USA
Macroeconomics, Applied Price Theory How to ensure your library has complete access to
MOSHE BUCHINSKY, Professor of Economics, University
of California, Los Angeles, USA Microeconomics/
The New Palgrave Dictionary of Economics
Microeconometrics, Mathematical and Quantitative
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GREGORY CLARK, Professor of Economics, University of Recommend to your Library!
California, Davis, USA
Economic History The New Palgrave Dictionary of Economics provides an essential reference resource for
CATHERINE ECKEL, Professor of Economics and Political you and your students. Recommend to your library now and your librarian will be able to
Economy, University of Texas at Dallas, USA
Design of Experiments and Behavioural Economics
purchase the 8 volume set at a reduced price of £1,360 (RRP £1,600).
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University of Jerusalem, Israel
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of Michigan Economics Department, USA
Public Economics Librarians - please provide your name, address and email or telephone number in all
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correspondence.
Tufts University, USA
Urban & Rural Economics and Economic Geography Ask your librarian to request a free online trial
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University, USA Why not see for yourself how valuable the online Dictionary is for you and your students?
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University of Washington, USA
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Statistical Decision Theory
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