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Organization with Incomplete Information

Name: Organization with Incomplete Information
Brand: Cambridge University Press
SKU: 02020696
Price: 55.89 EUR
Availability: InStock
Author: Mukul Majumdar
ISBN: 9780521084666

Essays in Economic Analysis: A Tribute to Roy Radner

Mukul Majumdar

Lingua

Inglese

Libro In brossura

Codice Libristo: 02020696

Casa editrice Cambridge University Press, ottobre 2008

There have been systematic attempts over the last twenty-five years to explore the implications of d... Descrizione completa

Codice Libristo: 02020696

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55.89 €

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There have been systematic attempts over the last twenty-five years to explore the implications of decision making with incomplete information and to model an 'economic man' as an information-processing organism. These efforts are associated with the work of Roy Radner, who joins other analysts in this collection to offer accessible overviews of the existing literature on topics such as Walrasian equilibrium with incomplete markets, rational expectations equilibrium, learning, Markovian games, dynamic game-theoretic models of organization, and experimental work on mechanism selection. Some essays also take up relatively new themes related to bounded rationality, complexity of decisions, and economic survival. The collection overall introduces models that add to the toolbox of economists, expand the boundaries of economic analysis, and enrich our understanding of the inefficiencies and complexities of organizational design in the presence of uncertainty.