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Allocation, Information and Markets : New Palgrave - John Eatwell

Allocation, Information and Markets

New Palgrave

By: John Eatwell (Editor), Murray Milgate (Editor), Peter Newman (Editor)

Paperback Published: 15th October 1989
ISBN: 9780333495391
Number Of Pages: 310

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This is an extract from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This volume concentrates on the topic of allocation information and markets. The foundations of most of neoclassical economics can be seen to be the concept of competitive equilibrium, which stems from the interaction of an economy-wide system of markets. In the 1950s, the Arrow-Debreu model of general equilibrium provided a new point of departure for such analyses and led naturally to an examination of the assumptions lying behind them, in particular to questions of how information and allocation interact. These essays aim to demonstrate how economists currently formulate and seek to answer these questions.

Efficient Allocation; S.Reiter - Adverse Selection; C.Wilson - Asymmetric Information; A.Postlewaite - Auctions; V.L.Smith - Bidding; R.Wilson - The Coase Theorem; R.D.Cooter - Decentralization; E.Malinvaud - Economic Organization and Transaction Costs; S.N.S.Cheung - Exchange; R.Wilson - Experimental Methods in Economics; V.L.Smith - Externalities; J.-J.Laffont - Fraud; E.Karni - Hidden Actions, Moral Hazard and Contract Theory; R.Guesnerie - Implicit Contracts; C.Azariadis - Incentive Compatibility; J.O.Ledyard - Incentive Contracts; E.P.Lazear - Incomplete Contracts; O.Hart - Incomplete Markets; C.Wilson - Market Failure; J.O.Ledyard - Mechanism Design; R.B.Myerson - Moral Hazard; Y.Kotowitz - Natural Selection and Evolution; S.G.Winter - Organization Theory; T.Marschak - Perfectly and Imperfectly Competitive Markets; J.Roberts - Principal and Agent; J.E.Stiglitz - Public Goods; A.Sandmo - Revelation of Preferences; J.-J.Laffont - Search Theory; P.Diamond - Signalling; J.G.Riley - Teams; R.Radner

ISBN: 9780333495391
ISBN-10: 033349539X
Series: New Palgrave
Audience: General
Format: Paperback
Language: English
Number Of Pages: 310
Published: 15th October 1989
Country of Publication: GB
Dimensions (cm): 23.39 x 15.6  x 1.73
Weight (kg): 0.45
Edition Number: 10