Studies in Resource Allocation Processes

Name: Studies in Resource Allocation Processes
Brand: Cambridge University Press
SKU: 9780521215220
Price: 66136 HUF
Availability: InStock

Szerző: Kenneth J. ArrowLeonid Hurwicz

Nyelv:

Kötés: Kemény kötésű

Kiadó: Cambridge University Press

Elérhetőség: Beszállítói készleten

Küldés 9-15 napon belül

66 136 Ft

One of the central questions of economics relates to the coordination of individual units within a l...

Információk a könyvről

Szerző

Kenneth J. ArrowLeonid Hurwicz

Nyelv

Angol

Kötés

Könyv - Kemény kötésű

Kiadva

1977

oldal

500

EAN

9780521215220

ISBN

0521215226

Enbook ID

02025663

Kiadó

Cambridge University Press

Súly

866

Méretek

160 x 235 x 30

Teljes leírás

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.

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