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Essays In The Economics Of Uncertainty
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Book Synopsis Essays in the Economics of Uncertainty by : Jean-Jacques Laffont
Download or read book Essays in the Economics of Uncertainty written by Jean-Jacques Laffont and published by Harvard University Press. This book was released on 1980 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: These three elegant essays develop principles central to the understanding of the diverse ways in which imperfect information affects the distribution of resources, incentives, and the evaluation of economic policy. The first concerns the special role that information plays in the allocation process when it is possible to improve accuracy through private investment. The common practice of hiring "experts" whose information is presumably much better than their clients' is analyzed. Issues of cooperative behavior when potential group members possess diverse pieces of information are addressed. Emphasis is placed on the adaptation of the "core" concept from game theory to the resource allocation model with differential information. The second essay deals with the extent to which agents can influence the random events they face. This is known as moral hazard, and in its presence there is a potential inefficiency in the economic system. Two special models are studied: the role of moral hazard in a monetary economy, and the role of an outside adjudicatory agency that has the power to enforce fines and compensation. The final essay discusses the problem of certainty equivalence in economic policy. Conditions under which a full stochastic optimization can be calculated by solving a related, much simpler "certainty equivalence" problem are developed. The reduction in the complexity of calculation involved is very great compared with the potential loss of efficiency.
Book Synopsis Essays in the Economics of Uncertainty by : Mark Joseph Machina
Download or read book Essays in the Economics of Uncertainty written by Mark Joseph Machina and published by . This book was released on 1979 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Economic Decisions Under Uncertainty by : Jacques Drèze
Download or read book Essays on Economic Decisions Under Uncertainty written by Jacques Drèze and published by CUP Archive. This book was released on 1990-05-25 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professor Dreze is a highly respected mathematical economist and econometrician. This book brings together some of his major contributions to the economic theory of decision making under uncertainty, and also several essays. These include an important essay on 'Decision theory under moral hazard and state dependent preferences' that significantly extends modern theory, and which provides rigorous foundations for subsequent chapters. Topics covered within the theory include decision theory, market allocation and prices, consumer decisions, theory of the firm, labour contracts, and public decisions.
Book Synopsis Uncertainty and Economic Evolution by : John L. Lott Jr.
Download or read book Uncertainty and Economic Evolution written by John L. Lott Jr. and published by Routledge. This book was released on 2005-06-23 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of the firm has recently undergone a dramatic transformation, drawing heavily on the pathbreaking work of Armen Alchian. This volume explores his contribution to the debate, including essays by Harold Demetz, Ben Klein, Jerry Jordan and Art Devany.
Book Synopsis Essays in the Economics of Uncertainty by : Oliver D. Hart
Download or read book Essays in the Economics of Uncertainty written by Oliver D. Hart and published by . This book was released on 1974 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in the Economics of Uncertainty by : Michel Demers
Download or read book Essays in the Economics of Uncertainty written by Michel Demers and published by . This book was released on 1985 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of the Economics of Risk and Uncertainty by : Mark Machina
Download or read book Handbook of the Economics of Risk and Uncertainty written by Mark Machina and published by Newnes. This book was released on 2013-11-14 with total page 897 pages. Available in PDF, EPUB and Kindle. Book excerpt: The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance Divides coverage between theoretical, empirical, and experimental findings Makes the economics of risk and uncertainty accessible to scholars in fields outside economics
Book Synopsis Essays on Economic Behavior Under Uncertainty by : Michael Balch
Download or read book Essays on Economic Behavior Under Uncertainty written by Michael Balch and published by North-Holland. This book was released on 1974 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in the Economics of Uncertainty by : Oliver Simon d'Arcy Hart
Download or read book Essays in the Economics of Uncertainty written by Oliver Simon d'Arcy Hart and published by . This book was released on 1974 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays in the Economics of Uncertainty by : David Aaron Sykes
Download or read book Three Essays in the Economics of Uncertainty written by David Aaron Sykes and published by . This book was released on 1984 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on the Economics of Uncertainty by : Adam Szeidl
Download or read book Essays on the Economics of Uncertainty written by Adam Szeidl and published by . This book was released on 2004 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Two Essays in Economics of Uncertainty by : Gautam Bhattacharya
Download or read book Two Essays in Economics of Uncertainty written by Gautam Bhattacharya and published by . This book was released on 1980 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Markets, Information and Uncertainty by : Kenneth Joseph Arrow
Download or read book Markets, Information and Uncertainty written by Kenneth Joseph Arrow and published by Cambridge University Press. This book was released on 1999-01-28 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading theorists offer insights on the role of uncertainty and information in the market.
Book Synopsis Risk, Uncertainty and Profit by : Frank H. Knight
Download or read book Risk, Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Book Synopsis Four Essays in Economics of Uncertainty by : Yves Michel Balcer
Download or read book Four Essays in Economics of Uncertainty written by Yves Michel Balcer and published by . This book was released on 1980 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on the Economics of Uncertainty by : Robert Alexander Sproule
Download or read book Essays on the Economics of Uncertainty written by Robert Alexander Sproule and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in Economics Under Uncertainty by :
Download or read book Essays in Economics Under Uncertainty written by and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
