You might also like

More about Institutions, Equilibria and Efficiency

• Book details
• Synopsis
• Trending among others

You get 406 loyalty points

Book synopsis

Competition and efficiency is at the core of economic theory. This volume collects papers of leading scholars,which extend the conventional general equilibrium model in important ways: Efficiency and price regulation are studied when markets are incomplete and existence of equilibria in such settings is proven under very general preference assumptions. The model is extended to include geographical location choice, a commodity space incorporating manufacturing imprecision and preferences for club-membership, schools and firms. Inefficiencies arising from household externalities or group membership are evaluated. Core equivalence is shown for bargaining economies. The theory of risk aversion is extended and the relation between risk taking and wealth is experimentally investigated. Other topics include determinacy in OLG with cash-in-advance constraints, income distribution and democracy in OLG, learning in OLG and in games, optimal pricing of derivative securities, the impact of heterogeneity at the individual level for aggregate consumption, and adaptive contracting in view of uncertainty.

Book details

Book category Books in English Economics, finance, business & management Economics Economic theory & philosophy

• Full title: Institutions, Equilibria and Efficiency
• Subtitle: Essays in Honor of Birgit Grodal
• Author: Christian Schultz, Karl Vind
• Language: English
• Binding: Hardback
• Number of pages: 384
• EAN: 9783540281603
• ISBN: 3540281606
• ID: 01560957
• Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
• Weight: 1620 g
• Dimensions: 235 × 155 × 27 mm
• Date of publishing: 13. February 2006

Trending among others

---

---

---