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Stud in Resource Allocation Process - Tapa blanda

Arrow, Kenneth J.

 
9780521034005: Stud in Resource Allocation Process
Tapa blanda
ISBN 10: 0521034000 ISBN 13: 9780521034005
Editorial: Cambridge University Press, 2008

Sinopsis

This volume examines how resources are allocated in an economic system where decision-making is decentralized.

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Reseña del editor

One of the central questions of economics relates to the coordination of individual units within a large organization to achieve the central objectives of that organization. This book examines the problems involved in allocating resources in an economic system where decision-making is decentralized into the hands of individuals and individual enterprises. The decisions made by these economic agents must be coordinated because the input decisions of some must eventually equal the output decisions of others. Coordination arises naturally out of the mathematical theory of optimization but there is still the question of how it can be achieved in practice with dispersed knowledge. The essays here explore the many facets of this problem. Nine papers are grouped under the title 'Economies with a single maximand'. They include papers on static and dynamic optimization, decentralization within firms, and nonconvexities in optimizing problems. Fourteen papers are concerned with 'Economies with multiple objectives'. Among the topics covered here are stability of competitive equilibrium, stability in oligopology, and dynamic shortages. The final part of the book includes three papers on informational efficiency and informationally decentralized systems. Leonid Hurwitcz is the Nobel Prize Winner 2007 for The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, along with colleagues Eric Maskin and Roger Myerson, for his work on the effectiveness of markets.

Product Description

Book by None

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Editorial
Cambridge University Press
Año de publicación
2008
Idioma
Inglés
ISBN 10 
0521034000
ISBN 13 
9780521034005
Encuadernación
Tapa blanda
Número de páginas
500
Contacto del fabricante
no disponible
Persona responsable
gpsr@libri.de
gpsr@libri.de

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