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Economics As A Coordination Problem
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Book Synopsis Economics as a Coordination Problem by : Gerald P. O'Driscoll
Download or read book Economics as a Coordination Problem written by Gerald P. O'Driscoll and published by Kansas City, Kan. : Sheed Andrews and McMeel. This book was released on 1977 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: A revision of the author's thesis, University of California at Los Angeles. Includes index. Bibliography: p. 158-167.
Book Synopsis Problems of Coordination in Economic Activity by : James W. Friedman
Download or read book Problems of Coordination in Economic Activity written by James W. Friedman and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coordination is extremely important in economic, political, and social life. The concept of economic equilibrium is based on the coordination of producers and consumers in buying and selling. This book reviews the topic of coordination from an economic, theoretical standpoint. The aim of this volume is twofold: first, the book contributes to the ongoing research on the economics of coordination; and second, it disseminates results and encourages interest in the topic. The volume contains original research on coordination including general game-theoretic questions, particular coordination issues within specific fields of economics (i.e. industrial organization, international trade, and macroeconomics), and experimental research.
Book Synopsis ECONOMICS AS A COORDINATION PROBLEM : THE CONTRIB. OF FRIEDRICH A. HAYEK by : Gerald P. O'Driscoll
Download or read book ECONOMICS AS A COORDINATION PROBLEM : THE CONTRIB. OF FRIEDRICH A. HAYEK written by Gerald P. O'Driscoll and published by . This book was released on 1977 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Behavioural and Experimental Economics by : Steven Durlauf
Download or read book Behavioural and Experimental Economics written by Steven Durlauf and published by Springer. This book was released on 2016-04-30 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
Book Synopsis Problems of Coordination in Economic Activity by : James W Friedman
Download or read book Problems of Coordination in Economic Activity written by James W Friedman and published by . This book was released on 1993-12-31 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economy of Chaos by : Zbigniew Hockuba
Download or read book Economy of Chaos written by Zbigniew Hockuba and published by . This book was released on 1994 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Complex Economics written by Alan Kirman and published by Routledge. This book was released on 2010-09-13 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic crisis is also a crisis for economic theory. Most analyses of the evolution of the crisis invoke three themes, contagion, networks and trust, yet none of these play a major role in standard macroeconomic models. What is needed is a theory in which these aspects are central. The direct interaction between individuals, firms and banks does not simply produce imperfections in the functioning of the economy but is the very basis of the functioning of a modern economy. This book suggests a way of analysing the economy which takes this point of view. The economy should be considered as a complex adaptive system in which the agents constantly react to, influence and are influenced by, the other individuals in the economy. In such systems which are familiar from statistical physics and biology for example, the behaviour of the aggregate cannot be deduced from the behaviour of the average, or "representative" individual. Just as the organised activity of an ants’ nest cannot be understood from the behaviour of a "representative ant" so macroeconomic phenomena should not be assimilated to those associated with the "representative agent". This book provides examples where this can clearly be seen. The examples range from Schelling’s model of segregation, to contributions to public goods, the evolution of buyer seller relations in fish markets, to financial models based on the foraging behaviour of ants. The message of the book is that coordination rather than efficiency is the central problem in economics. How do the myriads of individual choices and decisions come to be coordinated? How does the economy or a market, "self organise" and how does this sometimes result in major upheavals, or to use the phrase from physics, "phase transitions"? The sort of system described in this book is not in equilibrium in the standard sense, it is constantly changing and moving from state to state and its very structure is always being modified. The economy is not a ship sailing on a well-defined trajectory which occasionally gets knocked off course. It is more like the slime described in the book "emergence", constantly reorganising itself so as to slide collectively in directions which are neither understood nor necessarily desired by its components.
Book Synopsis Money, Coordination, and Prices by : S. G. van der Lecq
Download or read book Money, Coordination, and Prices written by S. G. van der Lecq and published by Edward Elgar Publishing. This book was released on 2000-01-01 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study presents a view of the economy, and how to model it, in which the current "ideal" of isolated agents coordinated by clearing markets is replaced by an open system in which money, trust, conventions and institutions all play their part in the system's coordination.
Book Synopsis Coordination Games by : Russell Cooper
Download or read book Coordination Games written by Russell Cooper and published by Cambridge University Press. This book was released on 1999-02-28 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume studies the implications of macroeconomic complementarities for aggregate behaviour. Topics include: economies with production complementarities; search models; imperfectly competitive product markets; and the role of government in resolving and creating coordination problems.
Author :Newman, Geoffrey Publisher :Department of Economics, University of British Columbia ISBN 13 : Total Pages :30 pages Book Rating :4.:/5 (256 download)
Book Synopsis Economic Growth as a Coordination Problem by : Newman, Geoffrey
Download or read book Economic Growth as a Coordination Problem written by Newman, Geoffrey and published by Department of Economics, University of British Columbia. This book was released on 1994 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book F. A. Hayek written by Peter J. Boettke and published by Springer. This book was released on 2018-09-05 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the life and work of Austrian-British economist, political economist, and social philosopher, Friedrich Hayek. Set within a context of the recent financial crisis, alongside the renewed interest in Hayek and the Hayek-Keynes debate, the book introduces the main themes of Hayek’s thought. These include the division of knowledge, the importance of rules, the problems with planning and economic management, and the role of constitutional constraints in enabling the emergence of unplanned order in the market by limiting the perverse incentives and distortions in information often associated with political discretion. Key to understanding Hayek's development as a thinker is his emphasis on the knowledge problem that economic decision makers face and how alternative institutional arrangements either hinder or assist them in overcoming that epistemic dilemma. Hayek saw order emerging from individual action and responsibility under the appropriate institutional order that itself emerges from actors discovering new and better ways to coordinate their behavior. This book will be of interest to all those keen to gain a deeper understanding of this great 20th century thinker in economics.
Book Synopsis Possessive Individualism by : Daniel W. Bromley
Download or read book Possessive Individualism written by Daniel W. Bromley and published by Oxford University Press, USA. This book was released on 2019-11 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anxiety and alienation threaten modern democracies. Political anger runs rampant in the United States, Britain voted to leave the European Union, authoritarian governments control several European countries, and millions of desperate migrants are streaming north out of the Middle East, Africa, and Latin America. Many people blame stagnant household incomes and economic inequality. However, Possessive Individualism argues that the origins of world disorder are in the failure of the Enlightenment to anticipate the acquisitive individual as a creature of global capitalism. Daniel Bromley provides a fundamental critique of contemporary capitalism to explain why the world now finds itself in widespread disorder. Capitalism's basic flaw, he argues, is "possessive individualism." Glorification of the rational individual motivated by acquisitiveness prevents the adoption of necessary government programs that would ease the economic burden on beleaguered households. Meanwhile, possessive individualism enables managerial capitalism-controlled by the "one percent"-to suppress wages and salaries, embrace automation, and move jobs overseas. Capitalism is no longer an engine of improved livelihoods and social hope. Drawing on evolutionary institutional economics and political theory this book offers two remedies to the crisis of modern capitalism. Escape from the crisis requires that the isolated acquisitive individual rediscovers a sense of loyalty to others-as neighbors, as colleagues, and as participants in the shared social process of living. Escape also requires that the private firm be reimagined as a public trust in which the economic well-being of employees becomes a central part of its purpose. In the absence of these dual transformations, capitalism as we know it cannot endure.
Book Synopsis The Handbook of Organizational Economics by : Robert S. Gibbons
Download or read book The Handbook of Organizational Economics written by Robert S. Gibbons and published by Princeton University Press. This book was released on 2013 with total page 1248 pages. Available in PDF, EPUB and Kindle. Book excerpt: (E-book available via MyiLibrary) In even the most market-oriented economies, most economic transactions occur not in markets but inside managed organizations, particularly business firms. Organizational economics seeks to understand the nature and workings of such organizations and their impact on economic performance. The Handbook of Organizational Economics surveys the major theories, evidence, and methods used in the field. It displays the breadth of topics in organizational economics, including the roles of individuals and groups in organizations, organizational structures and processes, the boundaries of the firm, contracts between and within firms, and more.
Book Synopsis Knowledge and Coordination by : Daniel B. Klein
Download or read book Knowledge and Coordination written by Daniel B. Klein and published by Oxford University Press. This book was released on 2012-01-27 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adam Smith and Friedrich Hayek saw the liberty principle as focal and accorded it strong presumption, but their wisdom invokes how little we can know. In Knowledge and Coordination, Daniel Klein re-examines the elements of economic liberalism. He interprets Hayek's notion of spontaneous order from the aestheticized perspective of a Smithian spectator, real or imagined. Klein addresses issues economists have had surrounding the notion of coordination by distinguishing the concatenate coordination of Hayek, Ronald Coase, and Michael Polanyi from the mutual coordination of Thomas Schelling and game theory. Clarifying the meaning of cooperation, he resolves debates over whether entrepreneurial innovation enhances or upsets coordination, and thus interprets entrepreneurship in terms of discovery or new knowledge. Beyond information, knowledge entails interpretation and judgment, emergent from tacit reaches of the "society of mind," itself embedded in actual society. Rejecting homo economicus in favor of the "deepself," Klein offers a distinctive formulation of knowledge economics, entailing asymmetric interpretation, judgment, entrepreneurship, error, and correction-and kinds of discovery-which all serve the cause of liberty. This richness of knowledge joins agent and analyst, and meaningful theory depends on tacit affinities between the two. Knowledge and Coordination highlights the recurring connections to underlying purposes and sensibilities, of analysts as well as agents. Behind economic talk of market communication and social error and correction lies Klein's Smithian allegory, with the allegorical spectator representing a conception of the social. Knowledge and Coordination instructs us to declare such allegory. Knowledge and Coordination is an authoritative take on how, by confessing the looseness of its judgments and the by-and-large status of its claims, laissez-faire liberalism makes its economic doctrines more robust and its presumption of liberty more viable.
Book Synopsis Game Theory and the Law by : Douglas G. Baird
Download or read book Game Theory and the Law written by Douglas G. Baird and published by Harvard University Press. This book was released on 1994 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first to apply the tools of game theory and information economics to advance our understanding of how laws work. Organized around the major solution concepts of game theory, it shows how such well known games as the prisoner's dilemma, the battle of the sexes, beer-quiche, and the Rubinstein bargaining game can illuminate many different kinds of legal problems. Game Theory and the Law highlights the basic mechanisms at work and lays out a natural progression in the sophistication of the game concepts and legal problems considered.
Book Synopsis The Economics of Organization and Coordination by : Peter-J. Jost
Download or read book The Economics of Organization and Coordination written by Peter-J. Jost and published by Edward Elgar Publishing. This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive economic approach for the analysis of organizational structure. It considers the parallels of coordination within firms, coordination between firms and market coordination and offers an economic analysis of the advantages and disadvantages of various instruments of coordination. Looking at examples in the practical world, it provides individual concepts and insights on an economic approach to organization. The book first presents an overall framework of economic organization and its architecture. It then analyzes non-hierarchical coordination mechanisms, and the structure of hierarchical coordination before addressing the choice of a suitable organizational structure. The book will be useful for students of economic and social sciences, with an emphasis on organization and personnel, as well as practitioners in organization and management. Contents: Preface Part I: Organizations and the Role of Coordination 1. Economic Organizations and their Architecture 2. The Analysis of the Coordination Problem Part II: Coordinating Economic Activities: From Markets to Hierarchies 3. The Efficiency of Markets 4. The Analysis of Transactions Part III: Hierarchies as a Coordination Mechanism 5. Basic Forms of Hierarchical Coordination 6. Organizational Structures Bibliography Index
Book Synopsis The Economics of Ignorance and Coordination by : Thierry Aimar
Download or read book The Economics of Ignorance and Coordination written by Thierry Aimar and published by Edward Elgar Publishing. This book was released on 2014-05-14 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book clarifies the specific nature of the Austrian theory and restores the unity and open-mindedness of the Austrian school in general. The intention is not to offer a collection of different or parallel ideas, but rather to retrace, from a pedagogic
