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Bayesian Implementation In Transferable Utility Environments And Other Essays In Microeconomic Theory
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Book Synopsis Bayesian Implementation in Transferable Utility Environments, and Other Essays in Microeconomic Theory by : Chad Hogan
Download or read book Bayesian Implementation in Transferable Utility Environments, and Other Essays in Microeconomic Theory written by Chad Hogan and published by . This book was released on 2001 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bayesian Implementation by : Thomas R. Palfrey
Download or read book Bayesian Implementation written by Thomas R. Palfrey and published by CRC Press. This book was released on 2020-08-26 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: The implementation problem lies at the heart of a theory of institutions. Simply stated, the aim of implementation theory is to investigate in a rigorous way the relationships between outcomes in a society and how those outcomes arise. The first part of "Bayesian Implementation" presents a basic model of the Bayesian implementation problem and summarizes and explains recent developments in this branch of implementation theory. Substantive problems of interest such as public goods provision, auctions and bargaining are special cases of the model, and these are addressed in subsequent chapters.
Book Synopsis Essays on Applied Microeconomic Theory by : Gabriel Alberto Martinez Roa
Download or read book Essays on Applied Microeconomic Theory written by Gabriel Alberto Martinez Roa and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1: Bayesian Persuasion in the Digital Age In digital platforms, agents have vast access to information, but the quality of it is unclear. This paper studies the impact of uncertainty about the quality of information as a Bayesian persuasion game with multiple senders. The model innovates by assuming the receiver samples only a small subset of the information available and whose quality uncertainty is endogenous. The receiver knows the signals chosen by each sender but randomly observes the realization of only one such signal. In equilibrium, senders can pool their signals, so the receiver is uncertain about the informativeness of the message received. Since pooling is prevalent, each sender chooses a signal to affect the average correlation between messages and states of the world. Thus, the strategies of other senders constrain each sender's ability to design information and may incentivize a sender to provide more or less information compared to the single-sender information design benchmark. The model suggests policies to improve the quality of the information on platforms such as social media. Chapter 2: Dynamic Trading in Decentralized Markets (with Marzena Rostek) Most financial assets are traded in multiple venues. We study a model of imperfectly competitive trading where agents have multiple opportunities to trade risky assets. We consider decentralized markets: the market comprises coexisting exchanges, each defined by a subset of traders and assets. We characterize the equilibrium dynamics of prices, trades, and price impact. Markets with the same prices, allocations, and price impact may differ in their dynamic efficiency properties depending on traders' participation in different exchanges. We provide necessary and sufficient conditions - based on trader participation alone - for markets to be dynamically efficient as trading becomes frequent. Decentralized markets for a single asset (or, more generally, standardized assets) are always dynamically efficient. For assets traded at low frequencies, even markets that are not dynamically efficient can give rise to higher total welfare than the centralized market. Increasing trading frequency can lower welfare due to the interaction of price impact and market incompleteness (i.e., limited participation in the exchanges). Chapter 3: Games among Groups (with Marzena Rostek and Ji Hee Yoon) In many social interactions, externalities and peer effects apply to groups rather than all agents. We model noncooperative games among a finite number of players who interact through any number of groups (a hypergraph). Groups endogenously change how the players value the interaction and contribute to it. Interaction through groups can realize a surplus that cannot be attained by a single group among the same players. Private clubs (interactions among some agents) can increase welfare if they are exclusive and not too prevalent. Different group interactions enhance equilibrium surplus through externality vs. risk-sharing motives.
Book Synopsis Allowing Others to Learn by : Vinit K. Jagdish
Download or read book Allowing Others to Learn written by Vinit K. Jagdish and published by . This book was released on 2005 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bayesian Implementation by : Thomas R. Palfrey
Download or read book Bayesian Implementation written by Thomas R. Palfrey and published by . This book was released on 1993 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis American Doctoral Dissertations by :
Download or read book American Doctoral Dissertations written by and published by . This book was released on 2000 with total page 816 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Twenty Lectures on Algorithmic Game Theory by : Tim Roughgarden
Download or read book Twenty Lectures on Algorithmic Game Theory written by Tim Roughgarden and published by Cambridge University Press. This book was released on 2016-08-30 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Computer science and economics have engaged in a lively interaction over the past fifteen years, resulting in the new field of algorithmic game theory. Many problems that are central to modern computer science, ranging from resource allocation in large networks to online advertising, involve interactions between multiple self-interested parties. Economics and game theory offer a host of useful models and definitions to reason about such problems. The flow of ideas also travels in the other direction, and concepts from computer science are increasingly important in economics. This book grew out of the author's Stanford University course on algorithmic game theory, and aims to give students and other newcomers a quick and accessible introduction to many of the most important concepts in the field. The book also includes case studies on online advertising, wireless spectrum auctions, kidney exchange, and network management.
Book Synopsis Political Game Theory by : Nolan McCarty
Download or read book Political Game Theory written by Nolan McCarty and published by Cambridge University Press. This book was released on 2014-10-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Political Game Theory is a self-contained introduction to game theory and its applications to political science. The book presents choice theory, social choice theory, static and dynamic games of complete information, static and dynamic games of incomplete information, repeated games, bargaining theory, mechanism design and a mathematical appendix covering, logic, real analysis, calculus and probability theory. The methods employed have many applications in various disciplines including comparative politics, international relations and American politics. Political Game Theory is tailored to students without extensive backgrounds in mathematics, and traditional economics, however there are also many special sections that present technical material that will appeal to more advanced students. A large number of exercises are also provided to practice the skills and techniques discussed.
Book Synopsis Microeconometrics by : A. Colin Cameron
Download or read book Microeconometrics written by A. Colin Cameron and published by Cambridge University Press. This book was released on 2005-05-09 with total page 1058 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the most comprehensive treatment to date of microeconometrics, the analysis of individual-level data on the economic behavior of individuals or firms using regression methods for cross section and panel data. The book is oriented to the practitioner. A basic understanding of the linear regression model with matrix algebra is assumed. The text can be used for a microeconometrics course, typically a second-year economics PhD course; for data-oriented applied microeconometrics field courses; and as a reference work for graduate students and applied researchers who wish to fill in gaps in their toolkit. Distinguishing features of the book include emphasis on nonlinear models and robust inference, simulation-based estimation, and problems of complex survey data. The book makes frequent use of numerical examples based on generated data to illustrate the key models and methods. More substantially, it systematically integrates into the text empirical illustrations based on seven large and exceptionally rich data sets.
Book Synopsis The Measurement of Environmental and Resource Values by : A. Myrick Freeman
Download or read book The Measurement of Environmental and Resource Values written by A. Myrick Freeman and published by Resources for the Future. This book was released on 2003 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: Non-market valuation is becoming increasingly accepted as an evaluative tool of economics related to environmental and resource protection. Freeman (economics, Bowdoin College) presents an overview of the literature, introducing the principal methods and techniques of resource valuation. Chapters cover the measurement of welfare changes, revealed and stated preference models, nonuse models, aggregation of values across time, environmental quality as factor input, longevity and health valuation, property value models, hedonic wage models, and recreational uses of natural resource systems. Annotation (c)2003 Book News, Inc., Portland, OR (booknews.com).
Book Synopsis Matching with Transfers by : Pierre-André Chiappori
Download or read book Matching with Transfers written by Pierre-André Chiappori and published by Princeton University Press. This book was released on 2020-05-26 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past few decades, matching models, which use mathematical frameworks to analyze allocation mechanisms for heterogeneous products and individuals, have attracted renewed attention in both theoretical and applied economics. These models have been used in many contexts, from labor markets to organ donations, but recent work has tended to focus on "nontransferable" cases rather than matching models with transfers. In this important book, Pierre-André Chiappori fills a gap in the literature by presenting a clear and elegant overview of matching with transfers and provides a set of tools that enable the analysis of matching patterns in equilibrium, as well as a series of extensions. He then applies these tools to the field of family economics and shows how analysis of matching patterns and of the incentives thus generated can contribute to our understanding of long-term economic trends, including inequality and the demand for higher education.
Book Synopsis Welfare Economics and Social Choice Theory by : Allan M. Feldman
Download or read book Welfare Economics and Social Choice Theory written by Allan M. Feldman and published by Springer Science & Business Media. This book was released on 2006-06-14 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the main topics of welfare economics — general equilibrium models of exchange and production, Pareto optimality, un certainty, externalities and public goods — and some of the major topics of social choice theory — compensation criteria, fairness, voting. Arrow's Theorem, and the theory of implementation. The underlying question is this: "Is a particular economic or voting mechanism good or bad for society?" Welfare economics is mainly about whether the market mechanism is good or bad; social choice is largely about whether voting mechanisms, or other more abstract mechanisms, can improve upon the results of the market. This second edition updates the material of the first, written by Allan Feldman. It incorporates new sections to existing first-edition chapters, and it includes several new ones. Chapters 4, 6, 11, 15 and 16 are new, added in this edition. The first edition of the book grew out of an undergraduate welfare economics course at Brown University. The book is intended for the undergraduate student who has some prior familiarity with microeconomics. However, the book is also useful for graduate students and professionals, economists and non-economists, who want an overview of welfare and social choice results unburdened by detail and mathematical complexity. Welfare economics and social choice both probably suffer from ex cessively technical treatments in professional journals and monographs.
Author :Walter and Rockwell Llewe Block, Jr Publisher :Legare Street Press ISBN 13 :9781021238054 Total Pages :0 pages Book Rating :4.2/5 (38 download)
Book Synopsis Man, Economy, And Liberty by : Walter and Rockwell Llewe Block, Jr
Download or read book Man, Economy, And Liberty written by Walter and Rockwell Llewe Block, Jr and published by Legare Street Press. This book was released on 2023-07-18 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays pays tribute to the pioneering economist and political philosopher Murray N. Rothbard. From his contributions to the Austrian school of economics to his revolutionary ideas on liberty and individualism, the authors examine and extend Rothbard's legacy. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Book Synopsis Governing the Commons by : Elinor Ostrom
Download or read book Governing the Commons written by Elinor Ostrom and published by Cambridge University Press. This book was released on 2015-09-23 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tackles one of the most enduring and contentious issues of positive political economy: common pool resource management.
Book Synopsis The Strategy of Conflict by : Thomas C. Schelling
Download or read book The Strategy of Conflict written by Thomas C. Schelling and published by Harvard University Press. This book was released on 1980 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzes the nature of international disagreements and conflict resolution in terms of game theory and non-zero-sum games.
Book Synopsis Theory and Practice in Policy Analysis by : M. Granger Morgan
Download or read book Theory and Practice in Policy Analysis written by M. Granger Morgan and published by Cambridge University Press. This book was released on 2017-10-12 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many books instruct readers on how to use the tools of policy analysis. This book is different. Its primary focus is on helping readers to look critically at the strengths, limitations, and the underlying assumptions analysts make when they use standard tools or problem framings. Using examples, many of which involve issues in science and technology, the book exposes readers to some of the critical issues of taste, professional responsibility, ethics, and values that are associated with policy analysis and research. Topics covered include policy problems formulated in terms of utility maximization such as benefit-cost, decision, and multi-attribute analysis, issues in the valuation of intangibles, uncertainty in policy analysis, selected topics in risk analysis and communication, limitations and alternatives to the paradigm of utility maximization, issues in behavioral decision theory, issues related to organizations and multiple agents, and selected topics in policy advice and policy analysis for government.
Book Synopsis Essays on Game Theory by : The late John F. Nash
Download or read book Essays on Game Theory written by The late John F. Nash and published by Edward Elgar Publishing. This book was released on 1996-01-01 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This short volume is very welcome . . . Most importantly, on pages 32-33, the volume reprints as an appendix to the journal article based on Nash's Princeton doctoral dissertation on non-cooperative games a section of the thesis on "motivation and interpretation" that was omitted from the article. An editorial note remarks mildly that "The missing section is of considerable interest". This section, not available in any other published source, makes the present volume indispensable for research libraries . . . Nash's Essays on Game Theory, dating from his years as a Princeton graduate student . . . has a lasting impact on economics and related fields unmatched by any series of articles written in such a brief time . . . To economists, his name will always bring to mind his game theory papers of the early 1950s. It is good to have these conveniently reprinted in this volume.' - Robert W. Dimand, The Economic Journal 'The news that John Nash was to share the 1994 Nobel Prize for Economics with John Harsanyi and Reinhard Selten was doubly welcome. It signalled not only that the brilliant achievements of his youth were to be recognized in a manner consistent with their significance, but that the long illness that clouded his later years had fallen into remission. I hope that this collection of his economic papers will serve as another reminder that John Nash has rejoined the intellectual community to which he has contributed so much.' - From the introduction by Ken Binmore Essays on Game Theory is a unique collection of seven of John Nash's essays which highlight his pioneering contribution to game theory in economics. Featuring a comprehensive introduction by Ken Binmore which explains and summarizes John Nash's achievements in the field of non-cooperative and cooperative game theory, this book will be an indispensable reference for scholars and will be welcomed by those with an interest in game theory and its applications to the social sciences.
