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Reviews the book, `Papers in Experimental Economics,' by Vernon L. Smith. Collection of papers on experimental economics between 1962 and 1990; Father of modern experimental economics; History of the study of Economics under controlled conditions.

Reviews the book 'Marchés, Capital et Incertitude,' edited by M. Boiteux, Th. de Montbrial, and B. Munier.

Reviews the book 'International Economic Policy Research: Papers and Proceedings of a Colloquium Held in a Washington, D.C. October 3-4, 1980.'

Reviews the book 'Toward A New World Trade Policy: The Maidenhead Papers,' edited by Fred C. Bergsten.

Reviews the book 'Industrial Management: East and West,' edited by Aubrey Silberston and Francis Seton.

Reviews the book 'Direct Western Investment in East Europe,' by Iancu Spigler.

There are situations in which implicit logrolling is possible among several issues. It has been shown by ANTHONY DOWNS that in such a situation the opposition party can always win elections in a two-party system by putting together in its platform alternatives out of these issues preferred by different minorities, provided the governing party has to announce its platform first. The political system is unstable, since the party in power will be beaten irrespective of the policies selected. It is proved in the paper that the system can be stabilized if some of the respective minorities form interest groups. In this case the parties' platforms have to follow the wishes of the interest groups favouring their members to the disadvantage of unorganised voters. Parties are powerless and the same platform will be selected as long as the parameters of the system are unchanged. [ABSTRACT FROM AUTHOR]

Reviews the book `Gesammelte wirtschraftswissenschaftliche Abhandlungen: Mit einer Einleitung uber Leben und Werk H. von Stackelbergs von Hans Moller,' (Collected Economic Papers, two volumes) by Heinrich Freiherr von Stackelberg.

Reviews the book 'Current Issues in Commercial Policy and Diplomacy. Papers of the Third Annual Conference of the International Economics Study Group,' edited by John Black and Brian Hindley.